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DECEMBER 2004 ROYAL DUTCH SHELL NEWS

DECEMBER 2004 ROYAL DUTCH SHELL NEWS

Wednesday 1 December, 2004

Daily Telegraph: Prime Yukos oil field in line for Russian gas bid: “Russia’s massive gas monopoly Gazprom will bid for the prime Siberian oil field of troubled Yukos when a government-ordered fire sale takes place later this month…”: “Other potential bidders are said to include German power supplier E.On, China’s largest oil producer the China National Petroleum Corporation and Anglo-Dutch company Royal Dutch/Shell.” (ShellNews.net) 1 Dec 04

THE WALL STREET JOURNAL: Australia’s Woodside Driven By Renewed Takeover Talk: “Driven by rumors that Royal Dutch/Shell Group may quit its one-third stake in Woodside Petroleum Ltd: analysts speculated Wednesday that a A$16 billion bid for Australia’s biggest energy company could be looming.” (ShellNews.net) 1 Dec 04

Financial Times: Shell probes Nigeria killings allegations: “Shell, which initially said it had no evidence anyone had died in the incident, said it was “concerned” by media reports of the accusations made by local people in the town of Ojobo in the oil-rich Niger Delta.” (ShellNews.net) 1 Dec 04

Financial Times: Reporting is a global matter: By Mark Moody-Stuart: Anew era of corporate reporting moved a step closer last week when the Department of Trade and Industry issued guidelines on how companies should prepare an operating and financial review.”: “The government has rightly listened to business concerns over an unnecessarily legalistic approach and removed the requirement that directors make “due and careful inquiry” in preparing an OFR. That could have led directors… to open themselves to the risk of legal action.” (ShellNews.net) 1 Dec 04

Asia Pulse: SHELL MAY SELL STAKE IN AUSTRALIA’S WOODSIDE PETROLEUM: “The sting would be a third party bid for the whole of Woodside, and RD/Shell cannot be ruled out as a bidder,” Citigroup said.” (ShellNews.net) 1 Dec 04

The Guardian (UK): Calpers chief says corporations were out to get him: “In Britain, the fund has been on the offensive against opaque structures at Shell and opposed the appointment of James Murdoch at BSkyB.” (ShellNews.net) 1 Dec 04

allAfrica.com: We Are Putting a Lot of Money Into Nigeria — Shell MD: “MR. Basil Omiyi needs no introduction having made history as the first African to be appointed Managing Director of Shell Petroleum Development Company (SPDC), a multi-billion dollar business concern with vast interests in the Nigerian upstream oil and gas industry.” (ShellNews.net) Posted 1 Dec 04

Thursday 2 December, 2004

THE WALL STREET JOURNAL: Nigerian Militants Prevent Repairs On Pipeline Leak-Shell: “Militants are stopping Royal Dutch/Shell Group (RD SC) from repairing an 18-inch pipeline in the Niger Delta leaking since Nov. 29, the company’s Nigeria unit said Thursday.” (ShellNews.net) 2 Dec04

ChinaView.cn: Shell reports oil spill in Nigeria’s troubled Niger Delta: “Oil multinational Royal Dutch/Shell said on Thursday an oil leak had occurred in Nigeria’s oil-producing Niger Delta region, but the volume of spill could not be determined as the company’s investigation efforts were frustrated by community militants.”: “The cause of pipeline-vandalism is considered as lack of jobs and poverty among those people whose average income is less than a dollar a day” (ShellNews.net) 2 Dec 04

THE WALL STREET JOURNAL: Woodside Petroleum May Be Takeover Target: Speculation Is That Shell Will Sell Its 34.3% Stake, Possibly to China’s Cnooc: “Shell Australia Chairman Tim Warren has chosen not to comment on the speculation, allowing analysts’ theories to flourish.” (ShellNews.net) 2 Dec 04

THE WALL STREET JOURNAL: Nigeria Lawmakers Threaten Sanctions Over Shell Pollution: “Nigerian lawmakers said Wednesday that they were considering penalties against the local subsidiary of Royal Dutch/Shell Group after the oil giant allegedly rejected a Senate demand to pay $1.5 billion for oil pollution.” (ShellNews.net) Posted 2 Dec 04

The Guardian (UK): Cadbury: Britain’s ‘most admired’: “The award is made after a poll conducted by Nottingham Business School for Management Today magazine.”: “Among those whose respect ratings have plunged are Shell, down from 5th to 64th, and Morrisons, down from 9th to 75th place.” (ShellNews.net) 2 Dec 04

Daily Telegraph (UK): Tesco loses place in admiration stakes: “…Shell slumped from the top ten to 64th place after its fall from grace…” (ShellNews.net) 2 Dec 04

THE WALL STREET JOURNAL: Shell Energy Services CEO Makes Fitness a Priority at Work and Home (ShellNews.net) 2 Dec 04

BBC NEWS: Nigerian senators threaten Shell: “Shell is consulting its lawyers as Nigeria threatens to impose sanctions. Nigeria’s senate is to consider sanctions against Shell for failing to pay a $1.5bn (£775m) pollution penalty. The Dutch and UK oil company had until 23 November to make the payment for environmental damage caused by oil spillage in the Niger Delta region.”: “…the committee was also investigating Shell’s activities in Nigeria in the past four decades, and its impact on the Niger Delta.” (ShellNews.net) 2 Dec 04

allAfrica.com: Auditors Slam N.5bn Suit On Shell: “An accounting firm… has slammed a N500,000,000 suit against Shell Petroleum Development Company Limited (SPDC) over outstanding fees”: “The auditors averred that while the exercise was on, SPDC presented inaccurate data to the consultants…” (ShellNews.net) Posted 2 Dec 04

allAfrica.com: Obasanjo Moves to Reconcile Ogoni, Shell: “President Olusegun Obasanjo yesterday personally led the campaign to reconcile Ogoni people and Shell Petroleum Development Company (SPDC) Limited as part of his efforts to restore peace in the Niger Delta region.” (ShellNews.net) Posted 2 December 04

Friday 3 December, 2004

ShellNews.net: Reply letter from 10 Downing Street (SEE LETTER BELOW): Posted on website 3 Dec 04

ShellNews.net: LETTER FROM ALFRED DONOVAN TO PRIME MINISTER TONY BLAIR REGARDING “CODES OF PRACTICE” GENERALLY AND SHELL’S STATEMENT OF GENERAL BUSINESS PRINCIPLES IN PARTICULAR: “The reserves scandal was of such global magnitude that it has brought about the demise of a great British company, The Shell Transport & Trading Company plc, which, under the recently announced “merger” plan with Royal Dutch Petroleum Company, will cease to exist. The HQ for Royal Dutch Shell plc will be in Holland and the majority of senior management will be Dutch. “Posted 25 Nov 04

iwon.com/Dow Jones Newswires: Shell Resumes Gasoline, Diesel Retail Operations In India – Executive: “The Indian unit of Royal Dutch/Shell Group (RD) has resumed gasoline and diesel retail operations in the country after a gap of nearly three decades.” (ShellNews.net) 3 Dec 04

ThisDayOnline.com (Nigeria): Shell Dares Senate, Says ‘You’re No Court’: “The Committee on Compliance with Senate Resolution had on Wednesday threatened to nationalise the SPDC…”: “In a press statement issued yesterday, Shell said pronouncing judgement and awarding compensation in a matter of disputes between parties was clearly outside the jurisdiction of the National Assembly.”: “SPDC maintains that it is a responsible corporate citizen, and that it has over the years sought to carry out its operations in Nigeria in a responsible manner…” (ShellNews.net) 3 Dec 04

allAfrica.com: MOSOP Hints On Return of Shell to Ogoniland: “PRESIDENT of the Movement for the Survival of the Ogoni People (MOSOP), Mr. Ledum Mitee, says there is the likelihood of Shell and other oil companies resuming work in Ogoni if the process towards that goal is credible. He was reacting to efforts by President Olusegun Obasanjo to reconcile the Ogoni and Shell.” (ShellNews.net) Posted 3 Dec 04

Sify.com (India): Shell begins retailing petrol in India: “”We have commissioned our first retail outlet in Bangalore. We have a licence to set up 2,000 outlets,” Vikram Mehta, Shell India’s Chairman, told reporters on the sidelines of a business conference.” (ShellNews.net) 3 Dec 04

THE TIMES (UK): Tempus: Predictable Reed meets its target but still disappoints: “REED ELSEVIER could teach Royal Dutch/Shell a thing or two. Not only do the English and the Dutch get on just fine at Reed (largely because Sir Crispin Davis, Reed’s chief executive, tells everybody who is boss), but the media and information group is a byword for steady predictability — of the kind once personified by the oily folks at Shell.” (ShellNews.net) 3 Dec 04

AFX Europe (Focus): BHP Billiton will not comment on speculated Woodside ownership change: “Media reports have suggested that the Shell stake may be up for sale but there has been no confirmation by Shell or Woodside.” (ShellNews.net) 3 Dec 04

Saturday 4 December, 2004

ADWEEK.com: ‘Shell Holiday Patrol’ Aims to Pump Up Image: “Shell Oil Products U.S. and its in-house marketing division Motiva Enterprises are testing a customer loyalty program that sends teams of “brand ambassadors” to gas stations and shopping malls in five cities offering gifts, assistance and entertainment, the company said.” (ShellNews.net) Posted 4 Dec 04

THE WALL STREET JOURNAL: ConocoPhillips Drops Controversial Oil Reserves Figure: “In the latest accounting change by a large oil company involving oil reserves, ConocoPhillips (COP) said Friday it will no longer report the average cost of new production to the Securities and Exchange Commission.”: “Several companies have announced accounting changes since the Shell scandal broke.” (ShellNews.net) Posted 4 Dec 04

THE TIMES (UK): Cruel $12 billion hoax on Bhopal victims and BBC: “THE BBC was forced to apologise yesterday after being duped by sophisticated internet hoaxers into reporting that victims of the Bhopal disaster were to receive $12 billion compensation.”: “…previous targets have included the World Trade Organisation (WTO), the Bush campaign, McDonald’s and Shell.” (ShellNews.net) 4 Dec 04

Sunday 5 December, 2004

THE TIMES (UK): Shell chops job change policy: “The generalist-to-specialist move is intended to foster radical cultural change at the embattled oil group, which this year had to cut its proven oil reserves by about a third.” (ShellNews.net) 5 Dec 04

THE NEW YORK TIMES: Floating an Idea: “A recently announced plan to place a floating natural gas depot in the middle of Long Island Sound seemed so nakedly destructive to the environment that we were tempted to hit the pause button on our critical faculties and let this editorial write itself.”: “The group behind the project, Broadwater Energy – a partnership between the TransCanada Corporation of Calgary and Shell U.S. Gas and Power, a Houston-based affiliate of Royal Dutch/Shell – has powerful arguments on its side. Long Island needs energy, which has to come from somewhere.” (ShellNews.net) 5 Dec04

The Observer (UK): Big (and small) will be beautiful next year: “Could 2005 be the year of the large company? A growing number of fund managers think it is time for big companies to make the running and are piling into the likes of Vodafone or Shell in preference to tiddlers such as Thus or Melrose Resources.”: “But beware: Shell’s proposed restructuring means it will jump from 3.6 to 8.6 per cent of the index, which, added to BP’s weighting, would leave oil accounting for more than 18 per cent of the portfolio. That is a heavy exposure to oil.” (ShellNews.net) 5 Dec 04

Sunday Telegraph (UK): FSA steps up inquiry into Shell reserves fiasco: “The FSA has already fined the oil giant £17m for committing market abuse and breaching the listing rules. But it has also said it is continuing its investigation into “other aspects of this matter”.: “In its ruling accompanying the fine, the FSA said Shell’s false or misleading announcements of proved reserves were made despite warnings from 2000 to 2003 that its proved reserves as announced to the market were false.” (ShellNews.net) 5 Dec 04

SCOTLAND ON SUNDAY: Shell in talks to save £220m oil and gas sale (ShellNews.net) 5 Dec 04

agencyfaqs.com (India): Shell returns to fuel retailing: “ANGLO-DUTCH oil major Shell has staged a return to auto fuel retailing in India after a gap of nearly three decades, opening its first petrol pump in Bangalore last week” (ShellNews.net) 5 Dec 04

NEWS.com.au (Australia): Idea works for buddies: “That investment looks set to pay off, and the pair will be named NSW Young Entrepreneurs of the Year at Shell’s Livewire youth business awards tomorrow.”: “WorkBuddy beat a field of eight finalists to win the title, which comes with a trophy and a $7000 cheque from Shell.” (ShellNews.net) 5 Dec 04

Monday 6 December, 2004

Yahoo! Business News: Press Release Source: Shell Oil Products US: All Shell Gasolines Meet ‘Top Tier’ Gasoline Standard Introduced by BMW, General Motors, Honda and Toyota (ShellNews.net) 6 Dec 04

StockWatch.com: Shell Issues Bakersfield Refinery Sales Process Update #2: “Shell Oil Products US today announced that it has reached an agreement with the U.S. Environmental Protection Agency and the Department of Justice on modifications to a consent decree that would allow the Shell Bakersfield Refinery to operate through March 31, 2005” (ShellNews.net) 6 Dec 04

THE WALL STREET JOURNAL: Shell CEO Repeats Review Complete By Yr End – CNBC: “Commenting on recent rumors of a possible mega-merger within the oil industry, van der Veer said the company never comments on speculation but that such talk indicates that Shell’s reputation isn’t yet fully restored following the reserves debacle.” (ShellNews.net) 6 Dec 04

BLOOMBERG: Shell Says Gazprom Enlargement Benefits Russia Energy (Update2): “Royal Dutch/Shell Group’s chief executive said a planned expansion of OAO Gazprom to dominate the energy industry in Russia may benefit Western companies working in the country, the world’s largest oil and gas producer.”: “Shell Chief Executive Officer Jeroen van der Veer said, in an interview today in Paris. Gazprom is “the crown jewel that’s very important for the future of the country.” (ShellNews.net) 6 Dec 04

THE WALL STREET JOURNAL: Shell Confirms 70,000 B/D Nigeria Output Lost On Protest: “A spokesman for Royal Dutch/Shell Group (RD, SC) in Nigeria confirmed Monday that 70,000 barrels a day of oil production had been lost on a protest by community members.”: “The shutdowns could worsen the declining trend in Nigeria’s crude oil production, an oil industry analyst said.” (ShellNews.net) 6 Dec 04

THE WALL STREET JOURNAL: Committee To Consider Demands Of Nigeria Oil Protesters: “Hundreds of protesting villagers from Kula community, including women and children, Sunday invaded two oil pumping facilities owned by Shell in the Ekulama oil fields” (ShellNews.net) 6 Dec 04

THE WALL STREET JOURNAL: Statoil Reviews First Calgary Sale – Source: “Total (TOT), Royal Dutch/Shell (RD) and Houston-based Anadarko Petroleum Corp. (APC) have also shown a preliminary interest in bidding for First Calgary, the Financial Times said. A Statoil spokesman declined to comment. Shell and Total also declined comment.” (ShellNews.net) 6 Dec 04

Daily Telegraph (UK): Shell raids likely to drive up oil prices: “Nigerian rebels yesterday seized three oil platforms operated by Shell and Chevron Texaco, shutting down production of 90,000 barrels of oil a day, the company said.” (ShellNews.net) 6 Dec 04

Asia Pulse (India): ROYAL DUTCH/SHELL TO IMPORT LNG BY FIRST QUARTER OF 2005: “Royal Dutch/Shell on Friday said it will begin importing liquefied natural gas (LNG) at its Hazira terminal in Gujarat by first quarter of 2005 and is looking at sourcing the fuel from Malaysia, Australia, Brunei, Oman or Nigeria…” (ShellNews.net) 6 Dec 04

Financial Times: Statoil eyes potential bid for FCP: “Statoil, the Norwegian energy group, has emerged as a leading contender in the impending auction of First Calgary Petroleums (FCP), a Canadian independent with extensive oil and gas interests in Algeria.”: “Total of France, Royal Dutch/Shell, and Houston-based Anadarko have also expressed preliminary interest in making a bid for FCP, according to people familiar with the matter” (ShellNews.net 6 Dec 04

HOUSTON CHRONICLE: Niger Delta’s oil curse: As U.S. dependence on the country’s petroleum exports grows, the West African nation’s corrupt officials get rich while its poor seethe: “An OPEC member, Nigeria is the world’s seventh-largest oil producer.” (ShellNews.net) 6 Dec 04

HOUSTON CHRONICLE: HIGH COST OF ENERGY: NIGERIA: Politics of oil inflame age-old delta hatreds: Government and militias skirmish over control of vital oil fields: “…lately, oil has infused nearly every fight in the delta, a region that has made Nigeria the fifth-most important source of U.S. petroleum imports.” (ShellNews.net) 6 Dec 04

The Guardian (UK): Nigerian villagers seize Shell oil platforms: “Hundreds of unarmed Nigerian villagers, including women and children, seized three oil platforms operated by Shell and ChevronTexaco yesterday, shutting 90,000 barrels a day of production in a jobs dispute.” (ShellNews.net) 6 Dec 04

BBC News, Lagos: Villagers hold Nigeria oil plants: “Last month, over 80 protesters occupied a rig operated by Shell contractors in neighbouring Delta state and 17 people were injured when soldiers opened fire. Journalists were later shown the graves of seven men who were reportedly shot dead in the incident, but the army denied that anyone was killed.”: “The Delta region holds the bulk of Nigeria oil reserves” (ShellNews.net) 6 Dec 04

Financial Times: FSA seeks news of Shell trio: The FSA has been investigating Shell since it admitted this year that it had overstated its proved oil and gas reserves by 25 per cent. Shell has already been fined £17m by the FSA for market abuse and breaching listing rules as well as $120m (£61.7m) by the US Securities and Exchange Commission.”: “The City watchdog is seeking details of what three former executives said to investors during meetings as part of a continuing probe into events that led to the trio’s resignation.” (ShellNews.net) 6 Dec 04

Stuff.co.nz (New Zealand): Petrol prices drop 5c per litre: “Shell was the first to announce cuts this morning, saying today’s drop, effective at 9am, reflects a drop in world oil prices at the weekend. (ShellNews.net) 6 Dec 04

Tuesday 7 December, 2004

Yahoo! News: Shell to invest millions to open foreign petrol stations in India: “Vikram Singh Mehta, Chairman of the Shell Group of Companies in India, said the firm plans to open 2,000 outlets selling gasoline and diesel under the Shell brand name”: “Mehta said Shell was the largest foreign investor in India, with a stake so far of 850 million dollars.” (ShellNews.net) 7 Dec 04

ArabicNews.com: Shell invests in billions of dollars in the Qatari gas: “The British-Dutch Royal Dutch Shell group announced determination to spend $6 billion for establishing a factory to transform gas into a liquid fuel in Qatar. The group’s executive director Jeroen van der Veer did not specify any time for these investments upon announcing this project in a press conference organized by “Business Week” magazine in Paris.” (ShellNews.net) 7 Dec 04

Los Angeles Times: Pact a Reprieve for Shell Refinery: Pollution limits will be altered so the firm can run the Bakersfield site through March 31 with more time for sale talks. (ShellNews.net) 7 Dec 04

SustainOnline.org: IUCN & Shell collaboration for biodiversity: “Geneva, 6 December 2004 – For over 4 years, Shell and IUCN – The World Conservation Union have been collaborating on a number of biodiversity programs and skillsharing initiatives. This case study highlights progress so far.” (ShellNews.net) 6 Dec 04

THE WALL STREET JOURNAL: Shell Tries To Evacuate Oil Workers As Protests Continue: “Oil operations in the restive Niger Delta are frequently disrupted by violence by aggrieved, impoverished communities that feel cheated out of the oil wealth pumped from their land.” (ShellNews.net) 7 Dec 04

AFX Europe (Focus): Nigerian protest on Royal Dutch/Shell oil flow station ends: “Nigerian protesters have ended their three-day-old occupation of two oil flow stations operated in the Niger Delta by Anglo-Dutch energy giant Royal Dutch/Shell…” (ShellNews.net) 7 Dec 04

Financial Post (Canada): Athabasca project to help Western Oil double production volume in 5 years: “Western Oil Sands holds a 20% stake in the Athabasca Oil Sands Project together with its partners Shell Canada Ltd. and Chevron Canada Ltd. It also has a minority stake in Shell Canada’s Scotford upgrader in Edmonton.” (ShellNews.net) 7 Dec 04

THE WALL STREET JOURNAL: Shell May Decide On New Brazil Oil Production in 2006: “The company will decide at earliest in 2006 whether to start production in the BC-10 exploration block in the Campos Basin off the coast of Rio de Janeiro, the vice president of exploration and production at Shell’s Brazilian unit, John P. Haney said in an interview.” (ShellNews.net) 7 Dec 04

AFX Europe (Focus): Malaysia’s Sapuracrest wins 37.84 mln usd contract from Brunei Shell: “Sapuracrest Petroleum Bhd said it has been awarded a 37.84 mln usd contract to transport and install oil rigs for Brunei Shell Petroleum Co.” (ShellNews.net) 7 Dec 04

Financial Times: Shell opens door to links with Gazprom: “Jeroen van der Veer, chief executive of Royal Dutch/ Shell, has opened the door to future deals with Gazprom, the Russian gas group, by welcoming its rapid expansion into the oil sector.” (ShellNews.net) 7 Dec 04

Financial Times: John Kay: Corporate personality is a reality: “Customers might put their trust in contracts but generally prefer to rely on the reputation of the business and to deal with people they know.”: “The horror of Enron was not just that it was home to some corrupt people but that the environment encouraged their corruption.”: “a personality devoid of moral sense, which is instrumental in its treatment of stakeholders, generally would be diagnosed by psychologists as psychopathic.” (ShellNews.net) Posted 7 Dec 04

AP Worldstream: Fresh unrest in Saudi Arabia, Nigeria push crude prices up as supply fears reappear (ShellNews.net) 7 Dec 04

Reuters: Shell plans to double gas sales: “Our LNG sales will double between now and the end of the decade,” Shell CEO Jeroen van der Veer told a Business Week conference in Paris on Monday.: “Van der Veer said that Shell was planning to take LNG from Nigeria to the U.S. East Coast while supplies from the Sakhalin project in Russia’s Far East will head to the U.S. west coast.” (ShellNews.net) Posted 7 Dec 04

THE NEW YORK TIMES: Oil Cos. Talk to Nigerian Oil Occupiers: “Multinational oil companies began talks with hundreds of Nigerian villagers occupying three oil platforms on Monday in a dispute over jobs which shut 90,000 barrels per day of oil production” (ShellNews.net) Posted 7 Dec 04

Wednesday 8 December, 2004

Western People (Ireland): Corrib group warns Shell of new battle: “After eight long years, one of the most hotly-debated planning cases in Irish history reached its conclusion last month when Shell Ireland Ltd finally go the go-ahead to develop a E500m gas terminal at Bellanaboy, on the North Mayo coastline”: “Although the news seemed to go in favour of Shell Ireland this time, the Western People has learned that the battle is far from over.” (ShellNews.net) 8 Dec 04

AFX Europe (Focus): Shell Canada announces large natural gas find in Alberta: “Royal Dutch/Shell unit Shell Canada announced the discovery of a large natural gas field in Alberta province, western Canada.” (ShellNews.net) 8 Dec 04

Expansion: Spanish competition authorities to hear Shell-Cepsa case (Shell/Cepsa: Competencia recibe el expediente de la operacion): “Spanish competition authorities have taken up the case after it was handed to them by the European Commission on November 24.” (ShellNews.net) 8 Dec 04

Lloyds List: Shell aims to stay at top by doubling sales in LNG sector: “Anglo-Dutch oil major Shell has vowed to protect its leadership in the liquefied natural gas market by doubling sales during the next six years.”: “’We are determined to retain our leadership in the expanding LNG business,’ Mr van der Veer told the European Leadership Forum in Paris. ‘Our LNG sales will double between now and the end of the decade.’ (ShellNews.net) 8 Dec 04

Lloyds List: Shell seeks exemption on LNG to India: “Royal Dutch/Shell is seeking an exemption to the Indian-flag rule on LNG vessel charters for imports to Indian terminals.” (ShellNews.net) 8 Dec 04

Financial Times: Good works in a corporate ghetto: “Christian Aid, in a report published earlier this year (Behind the Mask: The Real Face of Corporate Social Responsibility), describes Shell as being is at the “forefront of CSR” and yet its case studies on Shell and others lead it to conclude that “the corporate world’s commitments to responsible behaviour are not borne out by the experience of many who are supposed to benefit from them” (ShellNews.net) 8 Dec 04

NEW YORK TIMES: Protesters End Siege of Nigerian Platforms: “Hundreds of protesters ended their three-day siege of oil platforms in the oil-rich Niger Delta on Tuesday, paddling away in canoes and boats after Royal Dutch-Shell Cos. and ChevronTexaco Corp. agreed to talks”: “Villagers were protesting what they said was a lack of local benefits from more than four decades of oil drilling around their impoverished community” (ShellNews.net) Posted 8 Dec 04

THE WALL STREET JOURNAL: UPDATE: Protesters End Siege Of Oil Platforms In Nigeria: “Oil operations in the restive Niger Delta are frequently disrupted by protests -some violent -on the part of aggrieved, impoverished communities that feel cheated out of the oil wealth pumped from their land.” (ShellNews.net) Posted 8 Dec 04

Sify.com (India): Shell still in race to buy HPCL: “The Shell Group of companies worldwide would move ‘large amounts of work’ pertaining to Information Technology application service to India…” (ShellNews.net) 8 Dec 04

allAfrica.com: $1.5b Payment: Senate Considers Sanctions Against Shell: “THE Nigerian Senate is considering imposing sanctions against Shell Petroleum Development Company (SPDC) for what it described as the company’s effrontery and its refusal to pay a $1.5bn (about N201 billion) pollution penalty imposed by the upper legislative arm.” (ShellNews.net) Posted 8 Dec 04

allAfrica.com: Ojobo Community, Shell And Claims of Genocide: “…this time around a new lexicon was introduced into the litany of allegations against the companies, including claims and counter claims of sponsored killings and genocide against the people.” (ShellNews.net) Posted 8 Dec 04

Thursday 9 December, 2004

THE WALL STREET JOURNAL: Shell Canada Announces Major Natural Gas Discovery In Central Alberta: “Shell Canada Ltd has made a “major” natural gas discovery on a previously untested structure 30 kilometers southwest of Rocky Mountain House in central Alberta.” (ShellNews.net) Posted 9 Dec 04

THE WASHINGTON POST: Nigeria’s Oil Fuels Anger, Bloodshed In Delta Region, Villagers Reap Few Rewards Despite Surging Profits: “There are seven freshly dug graves in this Niger Delta village. Local leaders say they contain the remains of protesters who died violently last month when they attempted to mount a protest at an oil rig operated by the Shell Petroleum Development Co. of Nigeria, the region’s largest oil firm.”: “Spokesman for Shell and the Nigerian army disputed these accounts…”: “…report, by WAC Global Services, also concluded that Shell was in part responsible for the rampant violence and criminality in the Niger Delta.”: “Caught in the middle of these struggles are people like Gior Neebee, a small woman in her thirties…”: “To her, the oil coursing through the delta has become a curse…”: “Look at the environment I live in… For myself and my children, it’s like the world ended.” (ShellNews.net) 9 Dec 04

THE WALL STREET JOURNAL: Nigerian Villagers Fail To Attend Mtg With Oil Cos Wed: “Villagers were protesting what they said was a lack of local benefits from more than four decades of oil drilling around their impoverished community, Kula.” (ShellNews.net) Posted 9 Dec 04

THE BOSTON GLOBE: Jury rules for franchisees in Shell trial: 8 station operators in Mass. awarded $3.3m in damages: “A federal jury awarded more than $3 million to eight Massachusetts gas station operators after finding Shell Oil Co. used unfair tactics that were effectively intended to drive them out of business.”: “The case was also important to the world’s third-largest oil company, which has agreements with thousands of franchises nationwide.”: “The jury voted yes to the question of whether Shell ”in bad faith” set wholesale gasoline prices ”that were not commercially reasonable,” court documents said.” (ShellNews.net) 9 Dec 04

Telegram.com: Federal jury rules in favor of Shell franchisees, awards $3.3 million: “After a three-week trial, the jury found that Royal Dutch/Shell Group of Companies violated state and federal regulations by raising the price of wholesale gasoline to the dealers and ending a long-standing rent subsidy program. The franchisees sued four years ago, claiming Shell was attempting to drive them out of business so it could operate the stations itself.”; “The jury’s $3.3 million award is likely to grow by millions when interest and attorneys fees are factored in, said the franchisees’ lawyer, Gary Greenburg, who called the verdict a “total victory” for his clients.” (ShellNews.net) 9 Dec 04

BOSTON HERALD: Jury: Shell abused owners: Gas stations `vindicated’ in ploy by big oil company: “We’ve been vindicated,” said Mike Corbett, owner of City Square Shell in Charlestown, a member of a group of area dealers who’ve been battling Shell for more than four years over control of their stations.  “This is big for us. They beat us up for so many years. It was terrible what they did,’‘ he said. (ShellNews.net) 9 Dec 04

TheGlobe&Mail (Canada): Shell makes massive natural gas discovery: Its largest find in Alberta area in nearly 20 years lifts hopes for more giant deposits: “Shell Canada Ltd. has tapped into a massive natural gas reservoir in Western Canada — its largest discovery in the area in nearly two decades — raising hopes that the birthplace of the Canadian oil industry may still contain undiscovered elephant-sized deposits.”: “That is not a major discovery compared with the international efforts of many of the supermajor energy firms, but in Western Canada it is considered enormous…” (ShellNews.net) 9 Dec 04

Financial Times: State-owned groups from countries such as China, Brazil and India are making deals at home and abroad that increase their challenge to the ‘majors’. There could be changes in the way partnerships are built, write James Boxell and Kevin Morrison: “Malcolm Brinded, head of exploration and production at Royal Dutch/Shell, says: “The competitive landscape is changing and the national oil companies will play an important part. There are fewer international companies than a decade ago because of consolidation, but there are new competitors, and we don’t underestimate their capabilities or appetite.” (ShellNews.net) 9 Dec 04

The Guardian (UK): Poor safety of North Sea rigs exposed: “The deteriorating conditions on a Shell platform in the Brent field have been discovered after a series of gas leaks and two fatalities on other installations operated by the company.”: “The Brent problems are particularly disturbing because, although Shell has been through a financial crisis after misreporting the scale of its reserves, it is still regarded as an industry leader in operational matters.” (ShellNews.net) 9 Dec 04

Lloyds List: Dunlin flow resumes: “ROYAL Dutch/Shell has restarted production from its Dunlin platform in the UK northern North Sea after a three-month shutdown due to a gas leak.” (ShellNews.net) 9 Dec 04

BLOOMBERG: Shell Canada Makes `Major’ Gas Discovery in Alberta (Update5): “Shell Canada Ltd., Canada’s fourth- largest oil company, announced a “major” natural-gas discovery in the Rocky Mountain foothills of central Alberta that may boost fuel production and reserves”: “Shell Canada… …said the discovery was one of the biggest in Western Canada in two decades” (ShellNews.net) Posted 9 Dec 04

Reuters: Shell Canada Goes Deep, Makes Alberta Gas Discovery: “Shell Canada Ltd. has made a major gas find in the foothills of western Alberta, a region where it has been active for decades, the country’s No. 2 oil producer and refiner said on Wednesday” (ShellNews.net) Posted 9 Dec 04

allAfrica.com: $100m Claim: Senate Threatens Shell Officials With Arrest: “THE Senate Committee on Downstream Petroleum has threatened legal officials of Shell Petroleum Development Company with arrest should they continue to keep away from defending a $100 million (N13.5 billion) claim made against the multinational by the Ogoni community in Rivers State for a 1993 oil spillage.” (ShellNews.net) Posted 9 Dec 04

ameinfo.com (United Arab Emirates): Shell’s Chairwoman for Egypt to give keynote address at Women in Leadership conference: “Mrs Iman Hill, Chairwoman of Shell Companies in Egypt will deliver the keynote address at the Women in Leadership conference in Dubai next week.” (ShellNews.net) Posted 9 Dec 04

Friday 10 December, 2004

Yahoo!/DOW JONES NEWSWIRES: Shell-Bechtel’s InterGen Sale Gets 6 Bids So Far-Sources: “Over the course of this year, Shell was forced to report that it had overestimated its proven oil reserves by 20%. The company is selling non-core assets like InterGen in order to focus on exploration and production to increase its base of proven reserves.” (ShellNews.net) 10 Dec 04

csnews.com (Convenience Store News): Jury Rules For Massachusetts Franchisees in Shell Trial: “A federal jury awarded more than $3 million to eight Massachusetts gas station operators after finding Shell Oil Co. used unreasonable tactics that were effectively intended to drive them out of business”: “The jury voted yes to the question of whether Shell ”in bad faith” set wholesale gasoline prices ”that were not commercially reasonable,” court documents said.” (ShellNews.net) Posted 10 Dec 04

AFX Europe (Focus): Royal Dutch/Shell confirms northeastern China oil shale reserve deal – report (ShellNews.net) 10 Dec 04

Los Angeles Times: Shell Oil Focuses on 1 Bidder: “The company is negotiating exclusively with an investment firm to sell its Bakersfield refinery, sources say” (ShellNews.net) 10 Dec 04

ChinaView.cn: BEIJING: Royal Dutch/Shell has agreed to set up a joint venture (JV) with the Bureau of Geological Exploration and Mineral Development of Jilin Province, northeast China, to conduct oil shale resource studies.: “China is estimated to have the fourth largest shale deposits in the world at 31.57 billion metric tons, after the United States, Brazil and Russia. (ShellNews.net) 10 Dec 04

Saturday 11 December, 2004

Financial Times: Chinese oil: “China’s three oil majors have a mandate from Beijing to go forth and spend. They also have the cash. The three – CNOOC, PetroChina and Sinopec – have a combined market capitalisation of about $150bn”:   “Potential targets include Royal Dutch/Shell’s 34 per cent stake in Australia’s Woodside Petroleum (ShellNews.net) 11 Dec 04

The Guardian (UK): Is all well with Shell?: Interview Lord Oxburgh, chairman of Shell Transport and Trading: “He accepts that Shell has been through some nasty self-imposed scrapes but also feels that it has been misrepresented by the media and others in the outside world. So much so, he says, that he also began to believe some of the more negative images of the company.” (ShellNews.net) 11 Dec 04

THE TIMES (UK): STOP PRESS: Shell sale pledge (ShellNews.net) 11 Dec 04

THE WALL STREET JOURNAL: Shell Hopes Nigerian Conflict Will Be Resolved By Weekend: “Shell Petroleum Development Company of Nigeria, a unit of Royal Dutch Group (RD,SC), said Friday it was hopeful the dispute between it and one of its host communities that led to the closure of its flow stations would be resolved this week” (ShellNews.net) Posted 11 Dec 04

THE WALL STREET JOURNAL: Shell To Sell Portuguese Unit To Repsol YPF: “Royal Dutch/Shell Group of Companies and Repsol YPF announce Friday the signing of a sale and purchase agreement relating to the divestment of Shell Gas (LPG) business in Portugal” (ShellNews.net) Posted 11 Dec 04

Oil & Gas Journal: Shell Canada discovers natural gas in central Alberta (ShellNews.net) Posted 11 Dec 04

strategiy.com (Middle East): Shell launches next-generation advanced hydraulic oil (ShellNews.net) 11 Dec 04

Sunday 12 December, 2004

THE NEW YORK TIMES: Fuel Cells in the Deep Freeze: “G.M. is also teaming up with Shell Hydrogen to place four refueling “service hubs” around the country, plus a fifth that would be mounted on a mobile platform. A $2 million Shell station is already open and dispensing hydrogen in Washington.” (ShellNews.net) 12 Dec 04

THE NEW YORK TIMES: China’s Splurge on Resources May Not Be a Sign of Strength: “The reason for Chinese anxiety, particularly in energy markets, is that big Western companies are already well established in the richest oil regions and can outdo China’s producers financially. China also sees the American military presence in places like Iraq, Afghanistan and Uzbekistan as part of a drive to control Central Asia’s rich oil reserves. “ (ShellNews.net) 12 Dec 04

THE INDEPENDENT ON SUNDAY (UK): Shut out of the male and pale boardroom: Why are only 1 per cent of senior managers in blue-chip companies from ethnic minorities? Maggie Lee says discrimination in the City is an issue that dare not speak its name: “Ms Bottomley nonetheless believes that it is incumbent upon headhunters to develop networks to find talent. She cites management consultant McKinsey, investment bank Goldman Sachs and oil company Shell as examples of companies that are addressing the issue.” (ShellNews.net) 12 Dec 04

THE INDEPENDENT ON SUNDAY (UK): Business Essentials: ‘Only the very best young trainee is good enough to go into our jam’: “”The Shell Technology Enterprise Programme (www.step.org.uk), supported by the Government’s Small Business Service, helps students gain project-based work experience within the small business sector.” (ShellNews.net) 12 Dec 04

edubourse.com: Shell announces sale of its LPG business in Portugal: Royal Dutch/Shell Group of Companies (Shell) and Repsol YPF announced today the signing of a Sale and Purchase Agreement relating to the divestment of Shell Gas (LPG) business in Portugal.” (ShellNews.net) 12 Dec 04

THE SUNDAY TIMES (UK): The Knowledge: Octane: All you wanted to know about cars but were afraid to ask: “Petrol is classified by its research octane number (RON). In Britain standard unleaded petrol is 95RON. However, some fuels, such as Shell Optimax which is 98RON, have a higher rating and boast increased performance for the car.” (ShellNews.net) 12 Dec 04

Daily Telegraph (UK): City briefs: Aramco leads: “Petroleum Intelligence Weekly has produced a ranking of the world’s top 50 oil companies…” (ShellNews.net) 13 Dec 04

THE TIMES (UK): FSA red faces in splits settlement: “Separately, Sir Philip Watts, former head of Shell, and the FSA have agreed to postpone the hearing of an independent tribunal. Watts and the regulator had asked it to rule on whether Watts was incorrectly identified and prejudiced by the FSA when it published a formal notice fining Shell £17m for misleading the market over the size of its oil reserves.” (ShellNews.net) Posted 13 Dec 04

THE TIMES (UK): Special Report: Who is business champ of 2004? Paul Durman introduces the runners and riders for our prestigious annual award: “Gammell was in the right place again in January when Cairn struck an enormous oil reservoir under the Rajasthan desert in India. As further finds suggested Cairn had stumbled on almost a billion barrels of oil, the company’s shares spurted from about £3 to £15. Shell could only look on in embarrassment: it had sold Gammell the rights to the field for a few million pounds.” (ShellNews.net) Posted 13 Dec 04

THE TIMES (UK): And those who need not apply: “Sir Philip Watts, former chief executive of Shell: For losing 25% of his oil reserves, and his job as well. And for making our business editor tramp round Shell Centre in search of the loo: Judy Boynton, Shell’s former chief financial officer: Couldn’t make the oil giant’s numbers add up. Another casualty of the reserves crisis” (ShellNews.net) Posted 13 Dec 04

Monday 13 December, 2004

Business World: Tullow joint bid for N Sea gas fields? “Tullow Oil is a joint bidder with a US energy firm, according to a weekend report, for 316m euro of North Sea oil assets being sold by Shell and Exxon.” (ShellNews.net) 13 Dec 04

Business Wire: PIW Ranks World’s 50 Top Performing Oil Companies in Latest Annual Standings: “Shell is in a tie for fifth place with BP, due partly to its huge reserves downgrade” (ShellNews.net) 13 Dec 04

Daily Telegraph (UK): City briefs: Aramco leads: “Petroleum Intelligence Weekly has produced a ranking of the world’s top 50 oil companies…” (ShellNews.net) 13 Dec 04

THE TIMES (UK): FSA red faces in splits settlement: “Separately, Sir Philip Watts, former head of Shell, and the FSA have agreed to postpone the hearing of an independent tribunal. Watts and the regulator had asked it to rule on whether Watts was incorrectly identified and prejudiced by the FSA when it published a formal notice fining Shell £17m for misleading the market over the size of its oil reserves.” (ShellNews.net) Posted 13 Dec 04

THE TIMES (UK): Special Report: Who is business champ of 2004? Paul Durman introduces the runners and riders for our prestigious annual award: “Gammell was in the right place again in January when Cairn struck an enormous oil reservoir under the Rajasthan desert in India. As further finds suggested Cairn had stumbled on almost a billion barrels of oil, the company’s shares spurted from about £3 to £15. Shell could only look on in embarrassment: it had sold Gammell the rights to the field for a few million pounds.” (ShellNews.net) Posted 13 Dec 04

THE TIMES (UK): And those who need not apply: “Sir Philip Watts, former chief executive of Shell: For losing 25% of his oil reserves, and his job as well. And for making our business editor tramp round Shell Centre in search of the loo: Judy Boynton, Shell’s former chief financial officer: Couldn’t make the oil giant’s numbers add up. Another casualty of the reserves crisis” (ShellNews.net) Posted 13 Dec 04

Tuesday 14 December, 2004

THE WALL STREET JOURNAL: Shell To Launch New Cracker, Petchem Projs In Singapore: “Royal Dutch/Shell Group (RD) said Tuesday it is going ahead with its planned new ethylene cracker and petrochemical derivatives projects on Bukom Island, Singapore.” (ShellNews.net) Posted 14 Dec 04

THE NEW YORK TIMES: Royal Dutch/Shell to Modify Facilities: “Oil giant Royal Dutch/Shell Group of Cos. will add ethylene cracker and petrochemical derivatives plants at its refining facilities in Singapore, it said Tuesday” (ShellNews.net) 14 Dec 04

BUSINESS REPORT (South Africa): Shell on track for billion-dollar chemical project: “Anglo-Dutch oil giant Royal Dutch/Shell is a step closer to building a proposed chemical project in Singapore that could cost up to one billion US dollars, the company said Tuesday.” (ShellNews.net) 14 Dec 04

allAfrica.com: Shell Plans to Double LNG Sales: “Our LNG sales will double between now and the end of the decade,” Shell chief executive, Jeroen van der Veer said. (ShellNews.net) 14 Dec 04

TheGlobe&Mail.com (Canada): How Shell found more gas: “Advances in three-dimensional seismic technology have allowed Shell Canada Ltd. to penetrate that sound barrier, giving it the tools to pinpoint the massive natural gas discovery it announced last week.” (ShellNews.net) Posted 14 Dec 04

THE WALL STREET JOURNAL: Shell Canada Gives Update On Scotford Upgrader Maintenance: “The upgrader, along with the Muskeg River mine in Alberta, make up the Athabasca Oil Sands Project, a joint venture of Shell Canada (60%), Chevron Canada Ltd. (20% ) and Western Oil Sands L.P. (20%).” (ShellNews.net) Posted 14 Dec 04

London Evening Standard: BP sights on Libya’s oil and gas: “If the talks are successful it will ratchet up BP’s rivalry with Shell, which has a tentative partnership with NOC that could lead to ‘integrated upstream and LNG-export projects’.” (ShellNews.net) Posted 14 Dec 04

Wednesday 15 December, 2004

ShellNews.net: UK Home Secretary resigns after email evidence emerges 15 Dec 04

Financial Times: ChevronTexaco raises its oil planning price to $20-$30: “Royal Dutch/Shell was the first of the super-majors to break ranks on the planning price, because of extreme pressure to rebuild its reserves.” (ShellNews.net) 15 Dec 04

Financial Times: Secret and unreliable world of oil statistics: “It also does not bode well for the longer-term issue facing the industry – the extent of oil and gas reserves.”: “The Royal Dutch/Shell Group debacle, where the oil producer wiped 23 per cent off its oil reserves this year, highlighted the loose interpretation of rules governing energy reserves.” (ShellNews.net) 15 Dec 04

Asia Pulse: SHELL TO CONDUCT RESEARCH ON OIL SHALE IN CHINA: “An official from the Shell (China) Group said that China abounds in oil shale resources as Jilin Province is one of the provinces rich in oil shale reserves in the country, adding that from a long-term point of view, oil shale resources might ease the countrys energy demand to a certain extent and reduce the import of oil.” (ShellNews.net) 15 Dec 04

THE WALL STREET JOURNAL: Versatile Malaysian Refiner Is Starting to Turn Some Heads: “KUALA LUMPUR, Malaysia — Sharply higher oil prices have hit most Asian refiners hard. But Malaysian Shell Refining, a low-profile local subsidiary of the Royal Dutch/Shell Group, is cashing in and rewarding investors.” (ShellNews.net) 15 Dec 04

Financial Times: Caspian oil: Tightening rules of the game: “Kazakhstan is one of the few places in the world open for business to international oil producers seeking to replenish their reserves. For governments increasingly concerned about the security of energy supplies, the republic offers a plentiful source of oil outside the Middle East.”: “Kashagan wells yield poisonous sulphurous gas as well as oil.”: “Kashagan will have two lives spanning 70 years, one for oil and another for gas,” says Martin Ferstl, Shell’s chairman in Kazakhstan. (ShellNews.net) 15 Dec 04

paktribune.com (Pakistan): Govt making efforts for exploiting untapped huge hydrocarbon resources: Jadoon: “Jeroen Van Der Veer appreciated the steps taken by the Government of Pakistan for the investors in the petroleum sector and assured that Shell should continue to play its role for the boosting of petroleum sector ties” (ShellNews.net) Posted 15 Dec 04

Thursday 16 December, 2004

Financial Times: Frank talk at Shell: “Shell needs to draw a line under the booking issue and move on to acquisitions that look its best chance of boosting depleted reserves. Unless it can do so honestly and swiftly, talk of it as a bid target may return.” (ShellNews.net) 16 Dec 04

allAfrica.com: Shell Discontinues Action Against Pengassan, Nupeng: “Shell Petroleum Development Company (SPDC), has withdrawn the two suits it filed at the Federal High Court, Lagos…” (ShellNews.net) 16 Dec 04

Los Angeles Times: Talks on Shell Refinery Sale Break Down: “Shell Oil Co. said Wednesday that talks with the leading bidder for its Bakersfield refinery broke down, reviving the prospect that the plant could shut down next spring and pinch the state’s tight gasoline market.” (ShellNews.net) 16 Dec 04

Financial Times: Shellshocked: “The first necessity for making deep-seated cultural change is realising that you really need to do so, and the message certainly seems to be getting through to the leadership of Royal Dutch/Shell.” (ShellNews.net) 16 Dec 04

PRNewswire: Corporate Generosity Provides Family First Christmas in New Home: “”The generosity shown by Shell and Motiva employees has overwhelmed Janie and Nelda,” said Houston Habitat President Laurence J. Payne.” (ShellNews.net) 16 Dec 04

THE TIMES: Need to Know: Global Business Briefing: “The Salym joint venture of Royal Dutch/Shell, the oil giant, said that it had pumped the first oil from a Siberian field a year ahead of schedule and expected total output to exceed one million barrels next year.” (ShellNews.net) 16 Dec 04

Financial Times: Shell chief says he’s under threat: Jeroen van der Veer, the chief executive of Royal Dutch/Shell, has admitted that his “head is on the block” unless the company gets to grips by the end of the year with the way in which it books its oil and gas reserves. In a private speech delivered to Shell’s 100 most senior executives in the Hague on Wednesday, Mr Van der Veer said the position of Malcolm Brinded, head of the Anglo-Dutch oil giant’s exploration and production division, was similarly under threat. (ShellNews.net) 16 Dec 04

Lloyds List: Oil majors square up for surge in exploration spending in 2005: “Outside North America, Royal Dutch/Shell will have the highest capital expenditure of all the oil majors. The survey estimates Shell has spent $9.35bn this year and will increase this by 3% to $9.67bn. The previously troubled oil group is battling to raise its booked oil and gas reserves by moving forward projects after having to face a scandal this year, lowering estimates of its reserves by a fifth and replacing senior management.” (ShellNews.net) Dec 16, 2004

THE WALL STREET JOURNAL: Shell: Nigeria Community Talks Ongoing; Oil Still Shut In: “Nigerian government officials and Kula community leaders continue talks to end an impasse that forced oil companies to shut in about 120,000 barrels a day of crude oil production, a spokesman for Royal Dutch/Shell Group’s (RD, SC) Nigerian unit said Wednesday.” (ShellNews.net) Posted 16 Dec 04

THE WALL STREET JOURNAL: Shell Couldn’t Reach Terms With Bidder For Refinery: “– Shell Oil said Wednesday it hadn’t reached terms with the leading bidder for its crude oil refinery in Bakersfield, Calif. But state officials are still committed to fostering a sale that will allow continued operation of the refinery.” (ShellNews.net) Posted 16 Dec 04

Yahoo! Business News: Shell Brand Expands in Tulsa, OK, With Conversion of More Than 30 Texaco Stations: Expansion in Oklahoma Market Part of Largest Re-Branding Effort in U.S. History (ShellNews.net) Posted 16 Dec 04

Russian Information Agency Novosti: SHELL’S RUSSIAN UNIT STARTS OIL EXTRACTION IN WESTERN SIBERIA ONE YEAR AHEAD OF SCHEDULE (ShellNews.net) Posted 16 Dec 04

Friday 17 December, 2004

THE WALL STREET JOURNAL: Bid for WMC May Be Canberra’s Next Headache: “Like the takeover battle in 2001 between Shell and Woodside Petroleum Ltd., the latest bid contains myriad potential pitfalls for Mr. Costello and the government. Woodside operates the multibillion-dollar North West Shelf gas project, and Shell is both a partner in the project and Woodside’s single biggest shareholder.” (ShellNews.net) 17 Dec 04

MediaWeek.co.uk: Shell to overhaul global media setup: “Energy giant Shell has revealed it will review its £100m global media account in 2005, with a view to consolidating the entire business into one advertising network.” (ShellNews.net) 17 Dec 04

Daily Telegraph (UK): Investors: We’re glad Shell came clean: “Reflecting on a disastrous year, Mr van der Veer said: “March/April was the nadir, with more debookings, press articles on ‘who knew what’, Shell leaking like a sieve – which still makes me angry – problems with the SEC, annual report delayed, agm delayed, hammering from all the media and financial markets.” (ShellNews.net) 17 Dec 04

Daily Telegraph (UK): Corporate glasnost may be just the remedy to bring Shell in from the cold: Investors: We’re glad Shell came clean: “Mr van der Veer is a revelation for the Kremlinologists who are used to reading between the lines of Shell’s normally turgid corporate utterances. It actually looks as though he means business. At the end of its annus horribilis, Shell appears to have found an executive who grasps the need to change the way things are done there.” (ShellNews.net) 17 Dec 04

THE NEW YORK TIMES: Kremlin Reasserts Hold on Russia’s Oil and Gas: “Sergei Bogdanchikov, who would lead Gazprom’s oil and gas business, said Gazprom wanted to compete with giants like Exxon Mobil, Royal Dutch/Shell and BP.”: “For American consumers and investors, the obituary of Yukos would be a symbol of what Russia can do to companies that have come into such riches that even the Kremlin is envious.” (ShellNews.net) 17 Dec 04

Business Wire: West Africa Breaks Ground on Major Pipeline Project; Nexant Provides Critical Advisory Services to Historic Venture: “The 693-km pipeline will transport natural gas from the Niger Delta in Nigeria”: “The pipeline’s owners/developers are the Nigerian National Petroleum Corporation, ChevronTexaco, Shell, the Volta River Authority of Ghana, Societe Togolaise de Gaz, and Societe Beninoise de Gaz.” (ShellNews.net) 17 Dec 04

The Guardian (UK): ‘Time is running out’: “Certainly businesses and investors are not blind to the opportunities that climate change policies can deliver. A visit to WBCSD’s website (www.wbcsd.ch] shows how its member companies (which include international corporations such as Dow Chemicals, Shell and Coca Cola) are achieving significant business benefits through energy efficient operations and the development of energy-conserving products and services.” (ShellNews.net) Posted 17 Dec 04

The Guardian (UK): My head is on the block, admits Shell chief executive: “Jeroen van der Veer, Shell’s chief executive, has admitted privately that many of his own managers have deep misgivings about the way the company is being run by him and his team.”: “And he admitted that if “I look at what our middle levels think about the company, I’m very concerned”. (ShellNews.net) 17 Dec 04

THE WASHINGTON TIMES: Royal/Dutch Shell CEO frets about reserves: “The company is rechecking the remaining 6 billion barrels and expects to complete the review by the end of the month, he said. But failure to complete the job by then could be severe.” (ShellNews.net) Posted 17 Dec 04

aiada.org: Shell Gasolines Meet ’Top Tier’ Gasoline Standard: “According to Shell, gasoline meeting only minimum requirements can leave harmful deposits on engine parts.” (ShellNews.net) Posted 17 Dec 04

Lloyds List: North Sea oil output slumped to 14-year low in September: “New projects that have come on line this year, including Shell’s Goldeneye gas-condensate project and the imminent start-up of BP’s Clair project should reduce the rate of overall decline in 2005.” (ShellNews.net) 17 Dec 04

Yahoo! Business News: Wood Group Production technology win 10 mln usd Shell contract (ShellNews.net) Posted 17 Dec 04

ameinfo.com (United Arab Emirates): Committee shortlists UAE schools’ proposals for 2005 Shell Better Environment Awards (ShellNews.net) Posted 17 Dec 04

Saturday 18 December, 2004

PRNewswire: STARZ Buying Club Celebrates First Anniversary; Shell-Branded Retail Outlets Enjoy Savings and Efficiencies From Program (ShellNews.net) Posted 18 Dec 04

TMCnet.com: ESRI Reaches Groundbreaking Agreement with Shell (ShellNews.net) Posted 18 Dec 04

The Independent (UK): Cairn shares crash after setback in Rajasthan: “Cairn has enjoyed a meteoric rise since it acquired the Rajasthan exploration rights from Shell for just pounds 7.5m two years ago.” (ShellNews.net) 18 Dec 04

The Guardian (UK): Cairn shares plummet on Indian drilling disappointments and tax disputes: “Even after the fall, Cairn has still trebled in value since January, when it announced the discovery of up to 1bn barrels of oil on acreage bought from Shell for just £7m.” (ShellNews.net) 18 Dec 04

Daily Telegraph (UK): Lucky Cairn finally has a bit of a slip: Cairn alarms investors with poor drilling report (ShellNews.net) 18 Dec 04

THE TIMES (UK): Cairn shares slide on oil tax shock and well warning: “Cairn has made five oil discoveries and one gas find on the Rajasthan block in western India, which it had bought from Shell two years ago for £4 million.” (ShellNews.net) 18 Dec 04

THE TIMES: Italian oil inquiry: “It is understood that the country’s antitrust agency is investigating possible cartel behaviour in the market for aircraft fuel.”: “ENI and the Italian units of Esso and Shell are reportedly under investigation.” (ShellNews.net) 18 Dec 04

Sunday 19 December, 2004

THE SUNDAY TIMES (UK): Quote of the Week: ‘Perhaps some of you have even started taking French lessons’: Jeroen van der Veer, chief executive of Royal Dutch/Shell, refers to rumours of a takeover bid…” (ShellNews.net) 19 Dec 04

THE SUNDAY HERALD (SCOTLAND): Scandal Monger: Blood on the Boardroom Floor: “In a private speech helpfully revealed by the Financial Times the other day, Jeroen Van der Veer, the chief executive of the company, admitted…”: “He also admitted that middle managers had lost faith in the leadership – it was clearly a speech not meant for public consumption when you hear confessions like that.”: “But it is clearly an accurate description of the state of play at Shell. Instead of the shadow left over the company being driven away by the bold moves to change the company’s overwieldy twin board structure, the spectre still very much remains. How much it must have hurt when Brinded had to announce in October that more cuts would be needed.” (ShellNews.net) 19 Dec 04

The Sunday Observer (UK): Think small. Save the world: “The Foundation, an independent body with an endowment of £250 million from Shell, thinks it has an answer: nurturing small enterprise in poor countries”: “What’s in it for Shell? In the first place, nurturing small enterprise develops a local supply base. In South Africa, where black empowerment and entrepreneurship are high on the political agenda, doing business with small black firms may become a regulatory requirement. But the same reasoning applies to any country.” (ShellNews.net) 19 Dec 04

The Sunday Telegraph (UK): Ratcliffe in £2bn bid for Shell plastics: “Jim Ratcliffe, one of Britain’s most successful industrial entrepreneurs, has emerged as a surprise bidder for the Basell plastics business of Shell, which is being sold for about €4bn (£2.1bn).”: “Basell is the world’s largest polypropylene producer, with sales last year of £3.9bn. The sale is the first stage of Shell’s plans to sell assets worth up to $12bn in the wake of its reserves overbooking scandal.” (ShellNews.net) 19 Dec 04

The Sunday Telegraph (UK): The oligarchs battle for oil: “Meanwhile, Sibir Energy also has strong partnerships with Western oil companies. There is a joint venture with BP in Moscow’s petrol stations and a promising joint venture with Shell in the huge Siberian Salym oilfield.” (ShellNews.net) 19 Dec 04

TIMES OF OMAN: Shell Oman unveils plans for key social investment projects: “During the event, Shell also revealed a ‘Shell Traffic Park’ initiative, to be conducted in coordination with the Royal Oman Police and Shell Oman Marketing Company. This initiative will be developed in line with similar schemes developed by Shell in Singapore and Malaysia.” (ShellNews.net) 19 Dec 04

Vanguard (Nigeria): Crude theft is bleeding the economy — Shell: “By the time you put all the figures together, it is colossal”, top spokesperson of the company, Mr Larry Ossai, said in Abuja. He disclosed that Shell alone lost 15 million barrels of production potentials between January and last month, under what he called “opportunity loss”, amounting to as much as $530 million.” (ShellNews.net) Posted 19 Dec 04

Monday 20 December, 2004

Financial Times: Oil in the workings of high finance: “BP, Total and Shell now have trading teams that rival the biggest banks in terms of trader numbers, an ingrained entrepreneurial culture – which causes worries about risk at the credit rating agencies – and highly advanced IT systems. Shell employs 240 oil traders, while BP and Total’s teams are bigger still”: “A very big global oil company is in the physical market all the time and there is an enormous information flow coming out of the business on a physical level on a daily basis. This gives the oil trading divisions an in-built advantage over the market, and they use it.” (ShellNews.net) 20 Dec 04

AFX Europe (Focus): Tullow Oil buys some Shell, ExxonMobil North Sea gas assets for 200 mln stg: “Tullow Oil PLC said it is buying some North Sea gas production assets from Royal Dutch/Shell Group and ExxonMobil Corp for 200 mln stg. The deal covers all Shell’s and ExxonMobil’s producing interests in the Schooner and Ketch gas fields and surrounding acreage.” (ShellNews.net) 20 Dec 04

THE TIMES (UK): Britain looks east for new energy: “CONCERNS over Britain’s dwindling domestic energy supplies have forced politicians and the biggest gas and electricity groups to look east for a new source. Their sights have settled on Russia.

THE WALL STREET JOURNAL: Tullow Oil To Buy Schooner, Ketch Fields Interests: “Tullow Oil, the independent international oil and gas exploration and production company, said Monday that it has entered into agreements with Shell U.K. Limited and Esso Exploration and Production U.K. Limited to purchase their entire producing interests in the Schooner and Ketch gas fields and surrounding acreage.” (ShellNews.net) 20 Dec 04

BARRON’S Online: Eau, Please: Investment firm jousts with Suez to boost values: “Knight Vinke made a name for itself as one of the investors that successfully urged a corporate makeover at Royal Dutch/Shell. But unlike the Anglo/Dutch oil giant, which still is feeling the repercussions of its misstated petroleum reserves, Suez isn’t in crisis.” (ShellNews.net) 20 Dec 04

ChinaView.cn: Nigerian oil communities give Shell ultimatum on road project: “Twelve Nigerian communities in the restive oil-rich Niger Delta region have given oil giant Royal Dutch/Shell up to Dec. 31 to start work on an abandoned road or face a showdown, the News Agency of Nigeria reported Sunday.” (ShellNews.net) Posted 20 Dec 04

ameinfo.com (Middle East): Shell welcomes renewal of Oman concession agreement: The agreements were signed in Muscat on behalf of the Government of Oman by His Excellency Dr Mohamed bin Hamed Al Rumhy, Omani Minister of Oil and Gas, and Malcolm Brinded, Executive Director Exploration and Production of the Royal Dutch/Shell Group of Companies.” (ShellNews.net) Posted 20 Dec 04

bernama.com (Malaysia): Shell Secures Funds To Develop Newly-discovered Oil Fields Off Sabah: “Shell Malaysia has secured the funds it needs to develop two new oil fields discovered off Sabah this year, its Chairman Datuk Jon Chadwick said.” (ShellNews.net) Posted 20 Dec 04

Tuesday 21 December, 2004

THE NEW YORK TIMES: Yukos Auction Deepens Doubts of Investors: “MOSCOW: It took less than six minutes on Sunday to drive Russia back in time.”: “After successfully luring billions of dollars from foreign investors who believed that capitalism was finally making strides in Russia, Moscow switched directions on Sunday with a snap auction to dismantle the oil giant Yukos that set off criticism both at home and abroad.”: “Stanislav A. Belkovsky, president of the National Security Institute in Moscow, said on Monday that it was “just a deal for the redistribution of property by a criminal group with a mission to get control over the basic financial flows of the country, just as in the 1990′s.”: “As for President Vladimir V. Putin, Mr. Belkovsky added, “We should view him this way: as the chief of this criminal group.” (ShellNews.net) 21 Dec 04

Seattle Post Intelligencer: Nigerian white-collar oil workers strike: “Royal/Dutch Shell, representing nearly half of the country’s 2.5 million barrels of daily exports, said its petroleum flowed unabated out of Nigeria.” (ShellNews.net) 21 Dec 04

Financial Times: Dual float for Questair: “Its biggest shareholder after the flotation will be Shell Hydrogen, which is concerned with the commercialisation of hydrogen as a fuel.” (ShellNews.net) 21 Dec 04

Lloyds List: Energy Briefs: “SHELL has started oil production from its West Salym field in Western Siberia, one year ahead of schedule. The Anglo-Dutch oil major has commissioned the central processing facility and export pipeline tied into the Transneft export pipeline system. Shell’s partner in the project is London-listed independent Sibir Energy. Production is expected to peak at 120,000 barrels per day in 2009.” (ShellNews.net) 21 Dec 04

Daily Telegraph (UK): Investors in Sibir agree fee of £15m: “However, Mr Cameron stressed that Mr Tchigirinski’s fee was half the price charged by banks. He said that without the fresh funds Sibir would have had to hand its 50pc stake in the 800m barrel Salym oil fields to Shell. “We had to find $130m to meet our share of the Salym development to avoid dillution by Shell,” Mr Cameron said.” (ShellNews.net) 21 Dec 04

Financial Times: Tullow buys two North Sea gas fields: “Tullow Oil has taken its spending this year to more than $1bn (£514m) with the £200m cash purchase of two North Sea gas fields from Royal Dutch/Shell and ExxonMobil.” (ShellNews.net) 21 Dec 04

THE TIMES (UK): Tullow raises the stakes in battle of oil independents: “Tullow Oil yesterday threw down the gauntlet to Cairn Energy, the incumbent, after spending £200 million buying the Schooner and Ketch North Sea gasfields from Shell and ExxonMobil” (ShellNews.net) 21 Dec 04

Daily Telegraph (UK): Lock in gains at Tullow Oil: “After warning in September that Britain faces a winter of blackouts caused by low gas supplies, Aidan Heavey, the chirpy Irish chief executive of Tullow Oil, decided to make some money from it. Yesterday, he snapped up over 1.1 trillion cubic feet of gas reserves in the North Sea, 28 kilometres off the coast of Lincolnshire, for £200m from Shell and Exxon. (ShellNews.net) 21 Dec 04

The Guardian (UK): Tullow grabs £200m North Sea gas territory: “Tullow Oil has again demonstrated its growing ambitions – this time by scooping up pounds 200m worth of gas fields in the North Sea from Shell and partner ExxonMobil.” (ShellNews.net) 21 Dec 04

DAILY EXPRESS NEWS (Malaysia): Shell ready to develop new oil finds off Sabah: Shell Malaysia has secured the funds it needs to develop two new oil fields discovered off Sabah this year, its Chairman Datuk Jon Chadwick said here Sunday. (ShellNews.net) Posted 21 Dec 04

Wednesday 22 December, 2004

THE GLOBE&MAIL (CANADA): Repairs cut Athabasca oil sands output: “Yesterday, Shell Canada Ltd. and Western Oil Sands Inc., both of Calgary and two of the Athabasca project partners, said one of two RHC trains at the upgrader was moving back toward full production when the tubing leak was detected.” (ShellNews.net) 22 Dec 04

BERNAMA (Malaysia): Shell Malaysia Invests Rm70 Mln Over Past Four Decades: “Shell Malaysia, the country’s largest direct foreign investor, has invested about RM70 billion over the past four decades, according to the “Shell Malaysia Sustainable Development Report 2003.” (ShellNews.net) 22 Dec 04

Financial Times: School for scandal: “…as Royal Dutch/ Shell found with a difficult SEC rule on proved oil reserves, this does not mean a company can do its own thing” (ShellNews.net) 22 Dec 04

Financial Post (Canada): Shell oilsands operation hits new snags: “Shell Canada, which is 78% owned by oil major Royal Dutch/Shell Group, has a 60% stake in the Athabasca project.” (ShellNews.net) 22 Dec 04

Financial Times: Dutch diligence: “Another court ruling is due next month on whether to order an investigation into management at Dutch retailer Ahold following a bookkeeping scandal two years ago – not to mention the ongoing problems at Royal Dutch/Shell. (ShellNews.net) 22 Dec 04

The Independent (UK): Oligarch Bogdanov emerges as buyer of key Yukos subsidiary: “Russia’s 13th richest man, a Kremlin-friendly oligarch known as the “Hermit of Siberia”, emerged yesterday as the most likely buyer of Yukos’ main oil production unit, Yuganskneftegaz.” (ShellNews.net) 22 Dec 04

Daily Telegraph (UK): US issues warning on Yukos sale: “The US yesterday warned Russia that the auction of Yukos’ main oil asset could have a “chilling effect” on foreign investment in Russia.” (ShellNews.net) 22 Dec 04

THE TIMES (UK): We must bow to Gazprom ‘gang’ as West loses its grip on energy: “Does it matter to us if Yukos is expropriated and its oilfields shuffled into the Gazprom portfolio? It matters because the West is losing its grip on the energy business.” (ShellNews.net) 22 Dec 04

THE TIMES (UK): Sibir scents victory in battle with Sibneft: “Sibir’s main focus is the Salym oil joint venture with Shell in western Siberia. The partners hope to extract 600 million barrels of crude oil.” (ShellNews.net) 22 Dec 04

THE TIMES: Russians increase pressure on gas industry: “GAZPROM, the Russian gas giant, has stepped up the pressure on UK producers after agreeing to buy the country’s biggest onshore gas field.” (ShellNews.net) 22 Dec 04

THE WALL STREET JOURNAL: Nigeria Oil Exports Unaffected By Lockout –Traders: “A spokesman for Royal Dutch/Shell Group in London said its Nigerian loadings continued. Shell, the largest oil company in Nigeria, pumps roughly half of the country’s total output of around 2.4 million barrels a day.” (ShellNews.net) Posted 22 Dec 04

THE WALL STREET JOURNAL: FTC: Final OK To Buckeye Partners Buy Of Some Shell Assets: “The Federal Trade Commission Tuesday gave final clearance to Buckeye Partners LP’s (BPL) $517 million purchase of a package of Shell Oil Co.’s pipeline and storage assets.” (ShellNews.net) Posted 22 Dec 04

Thursday 23 December, 2004

Daily Telegraph (UK): City Briefs: Shell move: “Shell yesterday declared that force majeure was in effect on 114,000 barrels a day of Nigerian light crude…” (ShellNews.net) 23 Dec 04

turkishpress.com: Shell and Chevron suspend oil exports of 134,000 bpd from Nigeria: “A Shell spokesman said that the company had declared a “force majeure” to warn clients that it would not be able to meet export contracts from its Bonny terminal” (ShellNews.net) 23 Dec 04

The Kansas City Star: Shell joins clean fuel program: “Shell gasoline is the latest to meet a new fuel standard meant to ensure that engine parts are kept clean. The voluntary standard, called Top Tier, is being pushed by the automakers BMW, Honda, Toyota and General Motors over concerns about an overall decline of cleaning additives in gasoline in the last several years.” (ShellNews.net) 23 Dec 04

THE WALL STREET JOURNAL: Nelson Resources To Buy 50% Of Arman Field: “Nelson said the field is on the Caspian shoreline, 200 kilometers north of Aktau, and is operated by Arman LLP, a joint venture which will be owned 50% by Shell Kazakhstan Development B.V. and 50% by Nelson. Shell will continue to hold operating responsibility for the field.” (ShellNews.net) 23 Dec 04

THE WALL STREET JOURNAL: Shell , Chevron to Cut Deliveries Of Oil Amid Protests in Nigeria: “Royal Dutch/Shell Group said local protests will disrupt about 10% of the company’s Nigerian crude-oil deliveries through February. The move is the latest setback for Shell in strife-torn Nigeria, one of its main sources of oil, and comes amid continuing worry about global supplies.” (ShellNews.net) 23 Dec 04

AFX Europe (Focus): Shell Nigerian oil deliveries to be curtailed: “Royal Dutch/Shell Group said local protests will disrupt about 10 percent of the company’s Nigerian crude-oil deliveries through February…” (ShellNews.net) 23 Dec 04

New Straits Times (Malaysia: No hurdle too big: “THE true grit and determination of several students who excelled in their exams recently resulted in Shell Malaysia rewarding them with scholarships worth RM1 Million.” (ShellNews.net) 23 Dec 04

The Independent (UK): OUTLOOK: FSA fines: “It was the FSA’s seventh fine in as many days and brings the total raised from financial penalties so far this financial year to just over pounds 24m with three months still go. The total has been swollen by the pounds 17m penalty meted out to Shell for not being able to count its oil reserves properly and the increasing number of fines for market abuse.” (ShellNews.net) 23 Dec 04

CBS MarketWatch: Russia-owned Rosneft buys Yukos: Winning bidder’s acquisition called ‘a blow for rule of law’: “Wednesday’s purchase by Russian state-owned gas company Rosneft of BaikalFinans Group, the mysterious entity which unexpectedly won the auction for Yukos’ production unit, was “coordinated by the Kremlin,” according to a Russia expert.” (ShellNews.net) Posted 23 Dec 04

THE WALL STREET JOURNAL: Timeline Seen As Key Downfall To Shell-Kelso Deal – Source: “Shell Oil’s tight timeline for disposing of its Bakersfield, Calif., oil refinery was a key factor driving away a top bidder, a source familiar with the negotiations said Wednesday. Shell was trying to complete the sale quickly, and the potential buyer was not willing to rush the deal, the source said.” (ShellNews.net) Posted 23 Dec 04

THE WALL STREET JOURNAL: Shell Sees Nigeria Protests Cutting Oil Deliveries by 10%: “Royal Dutch/Shell Group said community protests will disrupt about 10% of the oil company’s Nigerian crude-oil deliveries through February. The move is the latest setback for Shell in strife-torn Nigeria, one of its main sources of oil, and comes amid continuing worry about global petroleum supplies.” (ShellNews.net) Posted 23 Dec 04

THE WALL STREET JOURNAL: Shell Brazil President Castelli To Leave Company in Feb.: “The president of the Brazilian unit of Royal Dutch/Shell Group (RD, SC), Aldo Castelli, will leave his post early next year, the company said in a statement. Castelli will go into early retirement on Feb. 15, 2005, and be replaced by Vasco Dias…” (ShellNews.net) Posted 23 Dec 04

THE WALL STREET JOURNAL: Norway’s Gassco Hires Shell To Trade Its C02 Emissions: “Norwegian natural gas infrastructure operator Gassco Wednesday said it has hired Royal Dutch/Shell Group’s (RD, SC) trading arm to trade its carbon dioxide emission allowances” (ShellNews.net) Posted 23 Dec 04

THE WALL STREET JOURNAL: India’s Economic Path May Hinge on Oil Finds: “Mike Watts, Cairn’s exploration director, says India contains good hydrocarbon deposits that have been “missed or written off by the majors.” In 2002, Cairn bought out its then-partner in Mangala, Royal Dutch Shell Group, which wasn’t interested in drilling more wells. A Shell spokesman declined to comment.” (ShellNews.net) Posted 23 Dec 04

THE WALL STREET JOURNAL: ChevronTexaco:Can’t Deliver 20,000 B/D Nigeria Bonny Oil: “Shell declared force majeure effective at midnight local time Thursday (1100 GMT Wednesday) on 114,000 b/d of its Nigerian Bonny Light crude because of production disruptions following villagers’ protests at some of its oil platforms in the Niger Delta.” (ShellNews.net) Posted 23 Dec 04

MarketWire: “Shell Helping Lead the Way to ‘The Hydrogen Economy”: “Shell Hydrogen sees the way to ‘The Hydrogen Economy,” featuring an exclusive interview with Shell Hydrogen’s CEO Jeremy Bentham…” (ShellNews.net) Posted 23 Dec 04

Friday 24 December, 2004

ShellNews.net: LETTER TO THE UK DAILY TELEGRAPH: SHELL TRANSPORT – AN ILL-FATED PREDICTION: “It is interesting as we approach the end of 2004 to review predictions made at the beginning of the year. “: “One of your experts, Andrew Jones, investment director of The David Aaron Partnership chose Shell Transport as his “Top Share”. Of course he did not know that just a few days later news would erupt about a corporate scandal of such magnitude that Shell Transport is now in its death throes and likely to be put out of its misery at its next (and almost certainly final) AGM.”: “Which unfortunate “rising star” is Andrew tipping for 2005?“:  24 Dec 04

ThisIsLondon.com: FSA to probe Cairn shares activity: “Gammell… hit the jackpot in January when Cairn discovered a vast oilfield in north-west India. Gammell paid Shell £10 million for the oilfield, which is now valued in the City at nearly £1.5 billion. (ShellNews.net) Posted 24 Dec 04

THE WALL STREET JOURNAL: Latest Move Seals Gazprom’s Role As Energy Giant: “But Growing Clout, TiesTo Kremlin Stir Concern”: “Other global companies have gotten the message. Royal Dutch/Shell Group, which operates the only big project on the Far East island of Sakhalin without a Russian state company involved, is in active talks to bring Gazprom in as a shareholder. As part of the deal, Shell could work with Gazprom on its Siberian fields.” (ShellNews.net) 24 Dec 04

CNN International.com: Shell cuts Nigerian oil exports: “International oil giant Shell said Thursday it has been forced to suspend some exports of 110,000 barrels a day because of community unrest in the Niger River Delta in Nigeria.”: “Royal Dutch/Shell Group is Nigeria’s top oil producer.” ShellNews.net) Posted 24 Dec 04

The San Diego Union-Tribune: Shell Oil to pay $1 million for cleanup: Contamination runs under stadium property: “Shell Oil has agreed to pay $1 million to the city of San Diego to clean up some of the underground pollution at Qualcomm Stadium”: “Soil and water at the city-owned site have been contaminated by fuel leaking from two tank farms near the stadium, and the city is negotiating with a Houston energy company on cleaning up the problem.”: “Richard Opper, a private attorney the city hired to work on the Qualcomm contamination case, said the gasoline contains a noxious additive that is intended to reduce smog emissions. Methyl tertiary butyl ether, or MTBE, is a carcinogen that seeps through soil more quickly than gasoline and has found its way into groundwater beneath the stadium property, Opper said.” (ShellNews.net) 24 Dec 04

channelnewsasia.com: Oil prices barely move: “Traders also digested news that unrest in the Niger Delta had forced oil giants Shell and ChevronTexaco to suspend exports totalling 134,000 barrels of oil per day from Nigeria, Africa’s largest producer of crude. A Shell spokesman said the company had declared a “force majeure” to warn clients that it would not be able to meet export contracts from its Bonny terminal. ChevronTexaco said it was affected also by the shut down. Nigerian firefighters also battled a pipeline blaze Thursday after an explosion killed at least 26 villagers looting fuel in a fishing community just outside the city of Lagos, police said. Nigeria normally exports around 2.5 million barrels per day, but the wealth generated by the industry has been misused and three-quarters of the 130-million strong population live in abject poverty.” (ShellNews.net) 24 Dec 04

Financial Times: City blows £6m on Christmas parties in spite of flat bonuses: “Even companies such as Shell, the energy group forced to restructure earlier this year, have been hosting parties. Mario Tomkins at Shell said: “The staff at Shell all had an excellent time at Lindley Hall, the venue and food was fantastic and everything was organised perfectly.” (ShellNews.net) 24 Dec 04

Financial Times: Old foes share common ground: “Even Greenpeace – the environmental campaign group that won instant recognition because of its assault on Royal Dutch Shell over the planned sinking of the Brent Spar oil platform nearly a decade ago – speaks a more conciliatory language about business today” (ShellNews.net) 24 Dec 04

Financial Times: MPs attack Xstrata’s WMC bid: “Although the board has rarely opposed foreign takeovers in recent times, the federal government intervened in 2002 and ruled that a full takeover bid from Royal Dutch Shell for Australia’s largest oil and gas producer, Woodside, was against the national interest.” (ShellNews.net) 24 Dec 04

Saturday 25 December, 2004 & Sunday (BOXING DAY), 26 December 2004

A VERY MERRY & SAFE CHRISTMAS TO ALL…

From ShellNews.net

ThisDayOnline.com (Nigeria): Shell Undergoes Major Re-organisation To expand gas supply to NLNG: “Oil giant, Shell Petroleum Development Company (SPDC) has commenced the long-awaited re-organisation, from which the company said, would emerge a new structure from January 1, 2005.” (ShellNews.net) 25 Dec 04

THE NEW YORK TIMES: The Strange Yukos Sale: “Nobody argues that Yukos, a product of the piratical privatizations of the early 1990′s, is an innocent victim. Russia certainly can choose to nationalize the industry. But reversing a piratical privatization through a piratical nationalization only confirms that doing business in Russia remains highly risky.” (ShellNews.net) 25 Dec 04

THE NEW YORK TIMES: Firms Show Oil – For – Food Probe’s Challenges: “The difficulty of finding out who paid kickbacks in the U.N. oil-for-food program is illustrated by two Liechtenstein-based firms, Alcon Petroleum and Fenar Petroleum. Both were set up late in the program — Alcon in 2000, Fenar in 1999 — and almost immediately landed huge contracts to buy oil from Iraq.”: “…major global oil companies which operated only in the early years of the 1996-2003 oil-for-food program bought much less. Shell Oil Corp., for example, took just 0.16 percent ($101 million worth), and BP PLC 0.10 percent ($62 million).” (ShellNews.net) 25 Dec 04

THE TIMES: Who was your business figure of 2004? Times Online gives you the chance to vote for the figure you believe made the biggest impact on business in 2004: “BILL GAMMELL – inspired oilman at Cairn Energy”: “…there is no doubt that it has been the stock of 2004 on the London market, with the scale of the Scottish company’s achievements in buying cheaply under-rated fields in India and making Shell look silly has been one of the business stories of the year.” (ShellNews.net) 25 Dec 04

Sunday (BOXING DAY), 26 December 2004

The Sunday Observer (UK): What will flow after big oil? Shares disappointed this year and the City expects 2005 to be volatile, says Richard Wachman: “Shell, mired in controversy since it admitted that it had been overstating its reserves, could become a turnaround story if management measures up” (ShellNews.net) 26 Dec 04

THE SUNDAY TIMES (UK): Inside the City: Dominic O’Connell: Retailers expect blue Christmas: “Royal Dutch/Shell (445p), which is likely to become the second-ranked company in the FTSE 100 when it lists as a single entity in London early next year, should enjoy a fillip from its continuing restructuring, buthas dropped too many clangers to inspire confidence.” (ShellNews.net) 26 Dec 04

THE SUNDAY TIMES (UK): Focus: Year of the Chinese dragon: The explosive growth of China left its mark on the world. It devoured raw materials, pushing up the price of commodities. And its torrent of exports to America dragged down the value of the dollar.: “Sir Philip Watts began the year as chairman of the world’s 10th-largest company. Then the authorities accused Shell of inflating its oil reserves. Watts took the rap. Today he spends much of his time negotiating with the Financial Services Authority over whether the City regulator unfairly besmirched his name in bringing an action against the company for misleading investors.” (ShellNews.net) 26 Dec 04

THE SUNDAY TIMES (UK): Ireland: Tullow prepares to pour €740m into acquisitions pipeline: “Tullow last week added to its assets in the southern North Sea. It bought 100% of the Ketch gas field and 90.4% of the Schooner gas field for £200m from Shell and ExxonMobil.” (ShellNews.net) 26 Dec 04

Monday, 27 December 2004

Financial Times: Softly, softly on EU convergence, says lawyer: “Scandals such as those at Parmalat, the Italian dairy company that collapsed under €14bn ($19bn) of debt, Ahold, the Dutch retailer, and Royal Dutch/Shell’s reserves debacle have given reforms fresh impetus.(ShellNews.net) 27 Dec 04

Daily Telegraph (UK): Shell taps reserves of humour: “Jeroen van der Veer, Shell chief executive, gave a speech to staff gathered in the canteen for the Christmas lunch on Wednesday: “Enjoy Christmas and take the time to rest and build your reserves in the coming year because Shell will certainly need them.” (ShellNews.net 27 Dec 04

Finance24.com (South Africa): Shell may have to quit Nigeria: “Lagos – Even before last week’s announcement that Shell will fail to meet its Nigerian oil export contracts this month because of local unrest, the troubled Anglo-Dutch energy giant’s operations here were facing mounting pressure from critics ranging from lawmakers to guerrilla leaders.”: “The company “cannot ignore Niger Delta conflicts or its role in exacerbating these… The ‘do-nothing’ option is taken at (Shell’s) peril,” said the report, which was widely leaked to the media.” (ShellNews.net) Posted 27 Dec 04

THE LONDON TIMES: Quiz of the Year: A disgraced lord, a goddess sent to jail and oil that went missing: 13. Name the former Shell chairman who had to resign over the “missing reserves” scandal” (ShellNews.net) 27 Dec 04

BBC Monitoring Service (UK) : Kenya: “Heightened expectation” of new oil discoveries along country’s coast: “In Kenya, oil exploration has recently intensified – nearly 43 years after Royal Dutch/Shell drilled the first ever known trial wells in northern Kenya.” (ShellNews.net) 27 Dec 04

Barron’s Online: Drilling for Value: “An Interview With Kurt Wulff: “Where do you stand in the great debate on oil reserves?”: “Imagine Saudi Arabia and Russia observing the same standards as Royal Dutch Shell.” (ShellNews.net) 27 Dec 04

THE NEW YORK TIMES: Yukos Sale a Mix of Pomp, Bureaucracy (ShellNews.net) Posted 27 Dec 04

Tuesday, 28 December 2004

Financial Times: Shell to pore over oil reserves audit: “Shell was forced to cut its level of proved reserves by 23 per cent this year, which led to the departure of its three top executives, class action lawsuits and investigations by US and UK regulators. The scandal also led to speculation that Shell was a possible takeover target for rivals such as Total of France.”: “Mr Brinded revealed in October that more cuts would be needed an admission that overshadowed the historic merger of Shell’s Dutch and British holding companies. He said 8bn of its 14.35bn barrels of oil and gas reserves had been rechecked and that 900m barrels could be cut from the total. The company has spent the rest of the year re-examining the remaining 6.35bn barrels and warned thatfurther revisions might be made.” (ShellNews.net) 28 Dec 04

The Philippine Star: Shell diversifies crude sources with first order from Russia: “Shell, in its report to Energy Secretary Vincent S. Perez, said some 600,000 barrels of crude oil from Sakhalin, Russia were delivered to its refinery… this month.”: “Russia is the world’s second largest oil exporter, behind only Saudi Arabia.” (ShellNews.net) 28 Dec 04

Yahoo! Business News: Shell subcontractor kidnapped in Nigeria: “…he also criticised Shell, saying that the firm had stirred local resentment by failing to honour two agreements it had signed to provide community investment during the opening of the huge oil field” (ShellNews.net) 28 Dec 04

THE WALL STREET JOURNAL: Croatian Oil Worker Taken Hostage In Oil-Rich S Nigeria: “Armed youths stormed a boat belonging to a Royal Dutch/Shell Groups Co. (RD,SC) contractor in Nigeria’s volatile southern oil region and kidnapped a Croatian crew member, officials said Monday.” (ShellNews.net) Posted 28 Dec 04

Vanguard (Nigeria): Shell, Chevron suspend 134,000 b/d Nigeria oil exports: “Nigeria is Africa’s largest oil producer, with exports of around 2.5 million barrels per day, but the wealth generated by the industry has been misused and three-quarters of the 130-million strong population live in abject poverty.” (ShellNews.net) 28 Dec 04

IranMania.com: Delays in buyback deals, Shell will be fined: “…Iran will fine the oil giant Shell for the delay in implementing projects to develop Soroush and Norouz oilfields.” (ShellNews.net) 28 Dec 04

THE LONDON TIMES: Need to Know: Global Business Briefing 2004: “A year of turmoil for Shell following the disclosure that its oil and gas reserves are overstated by 23 per cent in filings to the US Securities and Exchange Commission”: “Shell agrees to pay a penalty of $125 million to the SEC for violating its reporting rules. It also agrees to pay a record fine of £17 million to the UK Financial Services Authority for market abuse.”: “In November the company takes the unusual step of delaying its annual meeting by two months, amid doubts about its oil reserves.” (ShellNews.net) 28 Dec 04

THE WALL STREET JOURNAL: Tsunami Damage To Energy Facilities Seen Limited So Far: “A Royal Dutch Shell (RD SC) spokesman said he wasn’t aware of any consequences for the oil major’s offshore operations in Malaysia.” (ShellNews.net) Posted 28 Dec 04

Wednesday, 29 December 2004

The Globe&Mail (Canada): Nigerian militants free Shell subcontract worker: “A Croatian subcontractor for oil giant Royal Dutch/Shell Group who was taken hostage by militants in Nigeria’s turbulent oil producing delta was handed over alive yesterday, a government official said.” (ShellNews.net) 28 Dec 04

THE LONDON TIMES: Need to Know: 2004 in review: “Sir Philip Watts, the former chairman of Royal Dutch/Shell, led a string of departures from the Anglo-Dutch oil giant in the wake of news that it had misclassified some 25 per cent of its oil reserves” (ShellNews.net) 29 Dec 04

TheDeal.com: Shell gets U.S. antitrust nod: “U.S. antitrust enforcers on Tuesday, Dec. 28, said they would not oppose a plan by oil major Royal Dutch/Shell Group to move to a unified corporate structure from a century-old dual-ownership system.” (ShellNews.net) Posted 29 Dec 04

Thursday, 30 December 2004

FINANCIAL TIMES: London’s winners and sinners of 2004: “And now the brickbats, where one company stands head and shoulders above the rest: Royal Dutch/Shell. Its oil reserving scandal revealed lying, duplicity, vicious infighting, smugness and incompetence at the very top of the company. Its initially complacent response – dismissing the affair as due to human failings, not structural deficiencies – revealed the depths of its cultural and governance malaise. As the year ends, the company appears to be getting to grips with the degree of change needed. But to it goes the Lombard reflecting glass trophy, the better to see itself.” (ShellNews.net) 30 Dec 04

THE INDEPENDENT (UK): Jeremy Warner’s Outlook: Gaffes, duds and scandal: a year that had it all: “The biggest challenge to Lord Black this year came from Sir Phil Watts, former chairman of Shell, so to him goes the special consolation prize of “Grandest Deception” of the Year for the breathtaking discovery that Shell had been overstating its reserves of oil and natural gas by more than one-fifth. With characteristic arrogance, Sir Phil attempted to pass this off as little more than a bookkeeping error. He even failed to host the press conference at which the disclosure was made, leaving it instead to his head of investor relations to explain events to an incredulous world. For this, he said later, he was “very, very sorry” – not for the deception, you understand, but for his absence from the press conference. One of the characteristics of business leaders who fall from grace is that they can never admit to themselves the game is up. Sir Phil clung grimly to his position for a full two months after the announcement, and even then he had to be fired and given a £1m pay-off to persuade him to leave the building.” (ShellNews.net) 30 Dec 04

Daily Telegraph (UK): City briefs: Shell wins US clearance (ShellNews.net) 30 Dec 04

Oil&Gas Journal: Shell’s Hazira LNG terminal to miss commissioning deadline: “Contractor-generated delays have caused Royal Dutch/Shell Group subsidiary Hazira LNG Private Ltd. to miss commissioning the $680 million LNG receiving terminal at Hazira in Gujarat state by the yearend 2004 deadline” (ShellNews.net) 30 Dec 04

FINANCIAL TIMES: Investors discover they have real power: “…2004 will be chiefly remembered for two extraordinary tussles that pitched City investors at the heart of events. In January, Royal Dutch/Shell alarmed shareholders by revealing that it did not own as much oil and gas as it had indicated. Shareholders soon blamed the disclosure problem on the Anglo-Dutch company’s bureaucratic dual-board structure. The result was another investor scalp. In October, Shell announced it was unifying its board structure and simplifying reporting lines.” (ShellNews.net) Posted 30 Dec 04

The Guardian (UK): This is what they said: “Niall Fitzgerald, chairman of Unilever, on other bosses: “The crooks should be driven out, tried and put in jail. The incompetents should be taken from their responsibilities and allowed to do something else” Shell’s exploration boss Walter van de Vijver to chairman Sir Phil Watts about the company’s stated reserves: “I am becoming sick and tired of lying” (ShellNews.net) 30 Dec 04

The Guardian (UK): Review of the year: Store wars, goose-stepping bosses and a French revolution: “Cairn Energy announced its second oil strike in the Rajasthan district of India. The Mangala field was, as a result, said to be worth $500m (pounds 261m). Not bad, considering Cairn had bought it from Shell just 18 months earlier for a meagre $7m.” (ShellNews.net) 30 Dec 04

Friday, 31 December 2004

The Guardian (UK): Shell hits self-destruct button: “Shell will start the new year with a mountain to climb to re-establish its reputation after the most traumatic period in its 100-year history, with its chairman and two directors axed, legal action against it and condemnation by regulators.”: “An internal inquiry later came up with astonishing evidence that Sir Philip and Mr Van de Vijver were at war for years over the reserves issue. “I’m sick and tired about lying” said Mr Van de Vijver in one email.” (ShellNews.net) 31 Dec 04

THE LONDON TIMES: Half of the FTSE 100 establish relief operations: “Shell is providing free fuel to rescue operations in Thailand and fresh water supplies in parts of Sri Lanka.” (ShellNews.net) 31 Dec 04

THE LONDON TIMES: Tempus Ten end year with a bang despite early jitters: “Shares in BP, the UK’s biggest quoted company, were helped by the rising oil price. Contrasts with the managerial problems at Shell…” (ShellNews.net) 31 Dec 04

THE INDEPENDENT (UK): Year of bids, deals, scandal and sackings: Business quiz of the year: Test your financial recollection of some of 2004′s most memorable moments: “16. Who slipped on an oil slick, but still walked away with £1m?”: “ANSWER: Sir Phil Watts, who was fired from Shell over misreported oil reserves.” (ShellNews.net) 31 Dec 04

Reuters: Nigeria Chief Says Chevron Dispute Over: “Unarmed villagers from the Niger Delta village of Kula besieged three flow stations operated by Chevron and oil giant Royal Dutch Shell on Dec. 5 in a dispute over jobs and development, forcing the multinationals to shut in a total of 120,000 bpd.”: “Sara-Igbe also said his community was in talks with Shell that were expected to lead to the re-opening of Shell’s 100,000 bpd output.” (ShellNews.net) Posted 31 Dec 04

strategiy.com: Shell maps out potential social responsibility partnership for 2005: “In an unprecedented move, representatives of UAE governments, major NGOs and energy giant Shell have agreed to work towards ways of creating tripartite partnerships in sustainable development initiatives.” (ShellNews.net) Posted 31 Dec 04

Borneo Bulletin: Shell staff reported missing in Tsunami tragedy (ShellNews.net) Posted 31 Dec 04

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