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MARCH 2005 ROYAL DUTCH SHELL NEWS HEADLINES

MARCH 2005 ROYAL DUTCH SHELL NEWS HEADLINES

Tuesday, 1 March 2005

THE LONDON TIMES: Need to Know: “Shell signed its second agreement with Qatar’s government in two days…” (ShellNews.net) 1 March 05

FINANCIAL TIMES: Shell cements its position with LNG deal: “Royal Dutch/Shell’s signing of a $7bn (£3.65bn) liquefied natural gas deal with Qatar this week cements its position as global leader in liquefied natural gas – the boom area of energy investment – and will boost its flagging oil and gas reserves.”: “Despite Shell’s conservative assumption on oil prices, worries remain that companies are taking big risks when investing billions in LNG plants, ships and pipelines.” (ShellNews.net) 1 March 05

AFX Europe (Focus): Malaysia’s PM says Petronas sure oil area belongs to country – report: “Prime Minister Abdullah Ahmad Badawi says national oil company Petroliam Nasional Bhd is certain the area near Sipadan island, where it granted an oil exploration concession to Royal Dutch/Shell Group, belongs to Malaysia…”: “Indonesian Foreign Ministry spokesman Marty Natalegawa was quoted by Agence France-Presse as saying: “In our view, the granting of the concession is an inappropriate and unlawful act.” (ShellNews.net) 1 March 05

THE NEW YORK TIMES: Investment in Qatari Gas Signals Approval: “Tiny Qatar… sits on a bubble containing 10 percent of the world’s known gas reserves…”: “The $6 billion venture with Shell will bring 8.6 million tons a year to U.S. and European markets beginning as early as 2010.”(ShellNews.net) Posted 1 March 05

Stuff.co.nz (New Zealand): Pohokura gas deal made in good faith, says Shell: “Energy giant Shell is defending itself against claims that it misled the Commerce Commission over its plans to sell gas from the Pohokura gasfield. The commission is poised to revoke its decision to allow Shell, Todd Energy and European company OMV to jointly market and sell gas from the Taranaki offshore field.” (ShellNews.net) 1 March 05

Express Newsline (India): Shell and Qatar Gas Deal Could be Important for Energy Needs: “Shell went some way to replenishing its tapering reserves as it has signed a £3bn gas deal with the government of Qatar.” (ShellNews.net) 1 March 05

Wednesday, 2 March 2005

Reuters: Shell Canada Buys Offshore Newfoundland Rights: “Shell Canada Ltd. marked its exploration return to offshore Newfoundland on Wednesday by acquiring a 20 percent interest in eight exploration licenses in the Orphan Basin” (ShellNews.net) 2 March 05

THE WALL STREET JOURNAL: Shell Canada Acquires Expl Rights In Orphan Basin Offshore Newfoundland: “Shell Canada Ltd. (SHC.T) has acquired a 20% stake in eight exploration licenses in the Orphan Basin in the deepwater region offshore Newfoundland and Labrador.” (ShellNews.net) 2 March 05

The Globe & Mail: Diversity efforts paying off: Shell CFO By VIRGINIA GALT: “There has never been a better time for Canadian women in business, says Shell Canada chief financial officer Cathy Williams, who early in her career actually received coaching on how to deal with “male chauvinist pigs.” (ShellNews.net) Posted 2 March 05

FINANCIAL TIMES: Drought ends for Africa’s ‘unbankable’: “…for a few, help is now available in the form of a $5m Uganda “energy fund” set up by the Shell Foundation, the charitable arm of Royal Dutch/Shell. The fund was launched in 2003 as a pilot scheme to assist small and medium-sized enterprises in the east African nation, part of Shell’s plan to move away from traditional corporate philanthropy.” (ShellNews.net) 2 March 05

THE LONDON TIMES: Going Dutch: “Shell may be envious of the smooth transition at Reed as it hunts for a new chairman. In that case, given the determination for a fresh approach and the fact that the chief executive is Dutch, it may be that any other nationality, apart from Dutch or British, is required” (ShellNews.net) 2 March 05

THE WALL STREET JOURNAL: Traders Predict Large Market In Trading Carbon Credits: “…more companies have begun regularly trading in the last few weeks, mostly big power companies, said Garth Edward of Shell Trading, a division of Royal/Dutch Shell (RD). “Now we have a real market,” he said” (ShellNews.net) 2 March 05

Daily Times (Pakistan): Shell Pakistan to introduce new petrol blend: “This new Shell Petrol helps provide better fuel economy, engine cleanliness and reduced friction in the engine,” (ShellNews.net) 2 March 05

Thursday, 3 March 2005

Lloyds List: Shake-up at Shell marks changing tide in LPG business (ShellNews.net) 3 March 05

DAILY TELEGRAPH (UK): Too busy to see the oncoming train: “More than 30 years ago, the people at Royal Dutch Shell planned not only what they needed to accomplish but also what might happen in the future. They ran the only energy company that was ready to deal with what we know as Opec. Their plans enabled them to be prepared when the price of crude oil skyrocketed. They were thinking in terms far longer than the literal tomorrow. Unfortunately, this ability within Shell appears to have disappeared.” (ShellNews.net) 3 March 05

AFX Asia (Focus): China to become a net naphtha importer this year – report: “The new demand will be met mostly by domestic refineries. But Royal Dutch/Shell’s local ethylene venture — CNOOC and Shell Petrochemicals Co Ltd — is slated to begin operations in the fourth quarter this year…” (ShellNews.net) 3 March 05

DAILY TELEGRAPH (UK): Schumacher plays a cautionary tune: “The Australian audience, invited by sponsors Shell, were already reeling from the champion’s confession that he had little chance of winning a race he had claimed in four of the past five seasons.”: “In return for their millions, Shell Australia get first crack at Schumacher at the start of the season” (ShellNews.net) 3 March 05

Friday, 4 March 2005

FINANCIAL TIMES: Malaysia seeks end to dispute on oil with Indonesia: “Malaysia said yesterday it would seek talks to end a dispute with Indonesia over potentially oil-rich waters off Borneo after Jakarta took the unusual step of sending warships to the area.”: “Malaysia and Indonesia claim sovereignty over the waters in the Sulawesi Sea. The dispute has been stoked by a decision last month by Petronas, the Malaysian state oil group, to award exploration rights to Shell, the Anglo-Dutch oil group.” (ShellNews.net) 4 March 05

Expansion: Repsol’s Shell Gas purchase approved (Bruselas autoriza a Repsol Butano la compra de Shell Gas): “Spanish petrochemicals group Repsol YPF yesterday received the authorisation of the European Commission to acquire Shell Gas, the Portuguese LPG division of UK oil group Shell…” (ShellNews.net) 4 March 05

FINANCIAL TIMES: Majors covet Unocal while wary of China: “Cnooc’s interest has prompted a number of large international rivals – including Royal Dutch/Shell, BP, Eni, ChevronTexaco and a handful of US “independents” – to consider making offers of their own…” (ShellNews.net) 4 March 05

THE WALL STREET JOURNAL: FERC OKs $4M Settlement With Coral Energy: “The Federal Energy Regulatory Commission Thursday approved a $4 million settlement with Royal Dutch/Shell Group affiliate Coral Energy Resources L.P. that resolves an investigation into whether a trader at the company provided inaccurate information…”: “This settlement sends an important message to the industry,” said FERC Chairman Patrick Wood, III in a statement. “We expect the companies we regulate to be completely forthright and honest in their dealings with the Commission.” (ShellNews.net) Posted 4 March 05

THE WALL STREET JOURNAL: EU OKs Repsol Buy Of Shell LPG Operations In Portugal: “The European Union Commission Thursday cleared Spanish oil giant Repsol YPF SA’s acquisition of Shell Transport & Trading Co. PLC’s Portuguese liquid petroleum gas operations” (ShellNews.net) Posted 4 March 05

THE WALL STREET JOURNAL: Nigerian Pres: Oil Block Licensing To Be Held In July: “The president’s comments came against the background of increasing protests by communities in oil producing regions demanding a bigger share of oil profits. Operations of oil majors including local units of Royal Dutch Shell, ChevronTexaco, have been disrupted by these protests, sometimes leading to shut-in of production.” (ShellNews.net) Posted 4 March 05

Saturday, 5 March 2005

THE LONDON TIMES: Can Shell’s Canadian sands yield more oil than the Saudi deserts?: “Transforming black sand into oil is costly and dirty, but there is plenty of it about” (ShellNews.net) 5 March 05

THE LONDON TIMES: High crude price props up this costly process: “The Athabasca sands could restore Shell’s reserves, so it must be galling that not a single one of Shell’s six billion barrels in Northern Alberta features in Shell’s statement of reserves. The US Securities and Exchange Commission refuses to consider the deposits as oil reserves…” (ShellNews.net) 5 March 05

THE LONDON TIMES: China woos chief sitting on black goldmine: “He has a standing invitation to Beijing where a Chinese oil company is anxious to talk to him about a parcel of land in the middle of the world’s largest petroleum resource: the Athabasca oil sands.”: “…Neil Camarta, head of Shell’s Athabasca Oil Sands Project, is looking slightly nervous.” (ShellNews.net) 5 March 05

Sunday, 6 March 2005

THE SUNDAY POST (IRELAND): Shell threat of court action over disputed Corrib pipeline: “Shell E&P Ireland has threatened High Court action against residents of Co Mayo if they continue to block access to private property near the route of the Corrib natural gas pipeline.” (ShellNews.net) 6 March 05

THE SUNDAY TIMES (UK): Fuel of the future is just past Woolies: Britain’s first filling station for hydrogen, the new ‘wonder alternative’ to petrol, is about to open, writes Emma Smith of The Sunday Times: “In Britain, Shell is going head to head with BP with its own plans for a chain of hydrogen filling stations. “We would hope to move quickly from isolated projects to building up the first network of hydrogen filling stations, to serve one large urban area, perhaps in London, Birmingham or Manchester by 2007,” says Jeremy Bentham, who runs Shell’s hydrogen division.” (ShellNews.net) 6 March 05

The Observer (UK): The vocal minority sceptical of the threat of global warming are now targeting the UK, writes Conal Walsh: “…BP and Shell, the UK’s two oil giants, have been quicker than their US counterparts to accept that greenhouse gases come from burning fossil fuels…” (ShellNews.net) 6 March 05

The Observer (UK): Time for a commercial break: As the (charitable) Shell Foundation puts it in an important position paper this week, ‘in theory, practice and common sense, most routes out of poverty for poor people start with enterprise’ (ShellNews.net) 6 March 05

FINANCIAL TIMES: Shell muscles in on energy’s wild frontier: “… as Shell struggles to regain its footing after last year’s reserves scandal, it is eager to show that the Alberta oil sands, which by some estimates contain as much oil as Saudi Arabia, are as viable as conventional sources of oil such as drilling in the North Sea.” (ShellNews.net) Posted 6 March 05

Monday, 7 March 2005

Asia News: Yahoo: Shell buys 30 pct stake in Egypt W. Desert blocks (ShellNews.net) Posted 7 March 05

FINANCIAL TIMES: Chevron starts takeover talks with Unocal: “Chevron’s fresh position as a front-runner to buy Unocal could spur other suitors, such as CNOOC, Royal Dutch/Shell, BP, or others, to make last-ditch counter-offers.” (ShellNews.net) 7 March 05

AFX Europe (Focus): Indonesia urges Unocal to proceed with Ambalat oil block exploration – report: “The government is asking Unocal Indonesia Ventures Ltd to proceed with exploration activities in the Ambalat oil and gas block although the area is under territorial dispute with Malaysia”: “Tension emerged between Indonesia and Malaysia after the latter’s state oil company Petronas granted energy giant Shell a concession in the Ambalat area on February 16.” (ShellNews.net) 7 March 05

Tuesday, 8 March 2005

THE WALL STREET JOURNAL: Thousands Flee Nigerian Violence Over Oil Revenues: “…the fighting was over who should receive benefits from Royal Dutch/Shell…” (ShellNews.net) 8 March 05

THE SCOTSMAN:Shell Plans Unmanned Petrol Stations(ShellNews.net) 8 March 05

THE WALL STREET JOURNAL: Shell’s Draugen May Be Shut Rest Of Wk-Norway Govt (ShellNews.net) 8 march 05

BLOOMBERG: Shell Final Audit Shows 2002 Reserves Overstated 41% (Update2): “Royal Dutch/Shell Group, Europe’s second-largest oil company, reported its oil and gas reserves as of 2002 had been overstated by 41 percent, the culmination of five cuts that led to investor lawsuits, the loss of three senior executives and more than $150 million of fines.”: “The U.S. Justice Department is conducting a criminal inquiry of the matter. Shell last year lost its AAA credit ratings because of the reserves restatements.” (ShellNews.net) Posted 8 March 05

THE WALL STREET JOURNAL: Malaysia, Indonesia To Settle Oil Dispute Peacefully: “The leaders of Malaysia and Indonesia agreed Monday to diplomatically resolve a growing dispute over an offshore oil field in an area where both countries have sent warships and planes in recent days.”: “The latest problems with the oil field began when Malaysia’s national oil company, Petronas, awarded production-sharing contracts in February to two of Shell’s Malaysian units and to Petronas Carigali Sdn. Bhd. for two deep-water blocks.” (ShellNews.net) Posted 8 March 05

The Guardian (UK): Investors challenge Shell chief’s pay: “Investors are thought to be anxious not to exert too much pressure on Shell, which has worked hard to repair its relationship with shareholders after last year’s reserving scandal.” (ShellNews.net) 8 March 05

THE TIMES (LONDON): A charter for Africa’s barefoot entrepreneurs: “Enterprise Solutions to Poverty*, the short report by the Shell Foundation, should be required reading in Downing Street.” (ShellNews.net) 8 March 05

Wednesday, 9 March 2005

Western People (Ireland): Gloves to come off as Shell take on objectors: “The gloves are about to come off as Shell prepares to take on local objectors in the battle for the Bellanaboy refinery. The giant international corporation will resort to the courts to overcome a small group of objectors.” (ShellNews.net) 9 March 05

Western People (Ireland): Corrib Gas: the dashed hopes and the lowered expectations: “Last week Shell employees sought to enter on lands where they knew from previous experience… that they would not be welcome.”: “…despite the presence of gardai access to the lands was denied. Shell will now go to the High Court to seek an injunction against the objectors.” (ShellNews.net) 9 March 05

Asia Pulse: SHELL SUSPECTED OF ILLEGALLY USING AMBALAT OIL DATA: “Dutch oil giant Shell, which is in the center of tense border dispute between Indonesia and Malaysia, is suspected to have illegally used data about the oil potential of Ambalat…”: “”If Shell bought the oil block offered by Malaysia based on the same data it is tantamount to stealing data…” (ShellNews.net) 9 March 05

BBC Monitoring Service: Deputy PM urges Malaysians not to retaliate after Indonesian demos: “…demonstrations by Indonesians who went overboard in opposing Malaysia’s award of oil and gas concessions in two blocks in the Sulawesi Sea to Shell” (ShellNews.net) 9 March 05

The Guardian (UK): BP pays Browne £5.6m for success: “BP has run into trouble with major investors over its future remuneration proposals for Lord Browne and fellow directors. The oil company watered down plans that will be put to all shareholders at this year’s annual meeting. Shell has run into similar opposition and revised its proposals as the Guardian revealed yesterday.” (ShellNews.net) 9 March 05

Daily Telegraph (UK): Oil profits return to investors: “The Scottish oil services company said companies like BP and Shell were using the high oil price to return billions to shareholders in dividends and share buybacks, rather than increasing spending on exploration and production.” (ShellNews.net) 9 March 05

FINANCIAL TIMES: Iran plans oil reforms to attract greater investment: “The oil ministry is also in talks with Italy’s ENI over phase 12, and Spain’s Repsol and Royal/Dutch Shell over phase 13. “….Shell or Total would draw up the master plan for the Yadavaran oil field in south-west Iran, which has reported reserves of 15bn barrels and will be developed by China’s Sinopec.” (ShellNews.net) 9 March 05

Thursday, 10 March 2005

London Evening Standard: Shell ready to return to India: “SHELL is eyeing a return to India just three years after deciding to quit and selling the field that transformed Cairn Energy for loose change.”: “Cairn paid it just $20m (£10.4m) to take control of a block in Rajasthan. Within two years it was announcing one of the biggest discoveries in the country! One billion barrels of oil. The find came just days after Shell’s devastating reserves crisis broke.” (ShellNews.net) Posted 10 March 05

FINANCIAL TIMES: Kirchner tells Argentines to boycott Shell: “Néstor Kirchner, Argentina’s president, on Thursday launched the fiercest attack yet on an internationally owned company, urging his country’s 36m people to boycott Royal Dutch/Shell, the Anglo-Dutch oil producer” (ShellNews.net) 10 March 05

Yahoo! News: Argentine president calls for boycott of Shell after company hikes prices: “As the president called for the boycott, some 300 militants who support him blocked traffic outside the Shell’s Buenos Aires offices and threatened to blockade all of the Anglo-Dutch company’s gasoline stations in Argentina…” (ShellNews.net) 10 March 05

Reuters: President tells Argentines to boycott Shell (ShellNews.net) 10 March 05

THE WALL STREET JOURNAL: Argentina’s Kirchner Urges Citizens To Boycott Shell Oil: “A day after criticizing the local unit of the Royal Dutch/Shell Group (RD, SC) for raising prices, Argentine President Nestor Kirchner urged citizens to boycott the company” (ShellNews.net) 10 March 05

FINANCIAL TIMES: Wild moose chase: “Chief Jim Boucher has a canny way of keeping Shell on its toes over an oil project near his tribal lands on the Athabasca river in northern Canada.” (ShellNews.net) 10 March 05

FINANCIAL TIMES: DEBATE RUMBLES ON OVER CALCULATION OF PROVED RESERVES:BP had said… it replaced 78 per cent under the same Securities and Exchange Commission rules… Using the same guidelines, Royal Dutch/Shell replaced 15-25 per cent of its used reserves.” (ShellNews.net) 10 March 05

Asia Pulse: INDONESIAN PARLIAMENT TO SUMMON PETRONAS AND SHELL OVER AMBALAT (ShellNews.net) 10 March 05

BLOOMBERG: Shell May Shut Philippine Refinery, Citing Poor Profitability (ShellNews.net) 10 March 05

stuff.co.nz: Petrol price rise likely to pay for oil reserves – Shell (ShellNews.net) 10 March 05

AFX Asia (Focus): Shell unit, partners want to further explore area in western Philippines (ShellNews.net) 10 March 05

FINANCIAL TIMES: Long arm of the US regulator: “After corporate scandals and onerous new corporate governance rules, the US Securities and Exchange Commission is showing its teeth far beyond American shores.”: “SEC investigations into TV Azteca in Mexico, Ahold and Royal Dutch/Shell in the Netherlands, Spiegel in Germany and Vivendi in France, among others, have left executives in no doubt that the US regulator recognises no geographical boundaries” (ShellNews.net) 10 March 05

Friday, 11 March 2005

Reuters: Shell sells Australian oil fields (ShellNews.net) 11 March 2005

Irish Times: Leave to seek orders against gas field given: “An environmentalist was given leave by the High Court yesterday to seek orders next week against Shell and another company, Lennon Quarries Ltd, requiring them to cease all works on the site of the proposed Corrib gas field…”: “He wants a declaration that all works carried out by Shell at Bellynagelly South are unauthorised, unlawful and in breach of planning permission.” (ShellNews.net) 11 March 05

khaleejtimes.com: Shell to invest $12b in Gulf in eight years: “Ron van der Berg, Shell’s Regional Chief Executive Officer, exploration and production, said the new investment underscored Shell’s long-term commitment to the region. “We are committed to the development of long term partnerships with governments and their national oil companies in this region,” he said.” (ShellNews.net) 11 March 05

Lloyds List: When the publicising of a product was something of which you could be sure: “Long before the giants of Madison Avenue made a virtue of brand association, ‘You can be sure of Shell’ had entered the national consciousness.” (ShellNews.net) 11 March 05

National Post (Canada): Computer Modelling Group and Shell Exploration join forces on software projects (ShellNews.net) Posted 11 March 05

inq7.net: Shell’s consortium eyes Palawan oil contract: ” A CONSORTIUM composed of Shell Philippines Exploration BV, South China Resources Inc. and the Kuwait Foreign Petroleum Exploration Corp. (Kufpec) has applied for a contract to explore for oil and gas in northeast Palawan province” (ShellNews.net) 11 March 05

Saturday, 12 March 2005

THE WALL STREET JOURNAL: Argentina Pres’s Shell Bashing Raises Eyebrows: A day after urging Argentina’s citizens to boycott the local unit of Royal Dutch/Shell Group (RD) for announcing plans to raise gasoline prices, President Nestor Kirchner called the company “one of the 10 worst” worldwide (ShellNews.net) Posted 12 March 05

MoneyPlans.net: INDONESIAN PARLIAMENT TO SUMMON PETRONAS AND SHELL OVER AMBALAT: “Petronas has awarded Shell the Ambalat and East Ambalat blocks which are within the Indonesian territory, legislator Ransom Siagian said here yesterday. Ransom said the granting of the concession by Petronas is an insult to the country…” (ShellNews.net) 12 March 05

Sunday, 13 March 2005

The Observer: Shell caves in to Russian pressure on Sakhalin project: “Gazprom, the recently nationalised Russian gas giant, is about to muscle in on Shell’s $12 billion pipeline Sakhalin-2 oil and gas project.”: “; the deal would see Shell lose majority control of Sakhalin-2.” (ShellNews.net) 13 March 05

THE SUNDAY TIMES (UK): Labour rejects gift of £500,000: “THE Labour party has secretly rejected a £500,000 gift because of concerns about the donation from a lobbyist with a colourful client list.”: “Other clients named include… Shell, the oil firm investigated and fined for misstating its reserves; and BAE Systems, which is being probed over allegations that it bribed Saudi royals and politicians to win valuable defence contracts.” (ShellNews.net) 13 March 05

THE SUNDAY TIMES (UK): Funds that prove ethics and investment can mix: “CERTAIN companies attract the wrath of the socially aware. Nestlé, Nike, Barclays bank, Coca-Cola and Shell are among the global brands that have suffered from organised consumer backlashes.” (ShellNews.net) 13 March 05

The Observer: Don’t go giving them money: Businesss is the key to beating global poverty, but we’re talking so much more than handouts, writes Simon Caulkin: “…Tony Blair’s Commission for Africa proposes yet another attack on the development conundrum, the Shell Foundation, an independent charity funded by the Shell group, is taking a rather different line…” (ShellNews.net) 13 March 05

The Narco News Bulletin: Argentina’s President Calls for Boycott of Shell over price rise: “Members of the unemployed movement picketed outside Shell headquarters in Buenos Aires…” (ShellNews.net) 13 March 05

Monday, 14 March 2005

Belfast Telegraph (Northern Ireland): Shell shock as Fortune poll reports: “Fortune magazine’s latest annual poll to find the world’s most admired companies shows several high-profile companies have fallen from grace. The All-Star list no longer includes Royal Dutch/Shell, which significantly overstated its oil and gas reserves, or Merck, which recalled its US$$2.5bn blockbuster painkiller Vioxx. (ShellNews.net) 14 March 05

Reuters: Shell denies Sakhalin swap deal: “Shell has dismissed media reports that it has agreed to swap 7 percent of the Sakhalin-2 project in Russia’s Far East for the interests of Gazprom in the vast Shtokman Arctic gas field” (ShellNews.net) 14 March 05

MOSNEWS: Shell Dismisses Report of Swapping Sakhalin-2 Shares with Gazprom (ShellNews.net) 14 March 05

Tempo Interactive (Indonesia): Shell to Clarify Ambalat Case This Week (ShellNews.net) 14 March 05

AFX NEWS: Shell fuel sales in Argentina down 50-60 pct due to boycott: “Sales at Royal Dutch/Shell Group petrol stations have fallen by 50-60 pct since Thursday, when the Argentine government called for the boycott of its products…” (ShellNews.net) 14 March 05

Financial Times: Kirchner’s folly: “Mr Kirchner’s decision to order a boycott of Shell has sent out exactly the wrong signal to the private sector” (ShellNews.net) 14 March 05

THE LONDON TIMES: Argentina declares war on oil giants: “…called on Argentines not to buy anything from Shell, “not even a can of oil”: “Militant groups of the unemployed, piqueteros or pickets, responded to Señor Kirchner’s call by setting up protest lines outside Shell service stations in an attempt to enforce the ban. Shell has more than 900 stations in Argentina” (ShellNews.net) 14 March 05

THE WALL STREET JOURNAL: Argentine Leader Turns Inflation Ire Toward Shell: “A day after urging citizens to boycott the local unit of Royal Dutch/Shell Group for announcing plans to raise gasoline prices, Argentine President Néstor Kirchner called the company “one of the 10 worst” world-wide” (ShellNews.net) 14 March 05

Tuesday, 15 March 2005

The Guardian (UK): BG reserves targeted: “The broker reckoned BG could also be a tempting target for Shell…” (ShellNews.net) 15 March 05

THE LONDON TIMES: Need to Know: “Sales at Royal Dutch/Shell’s petrol stations in Argentina have reportedly fallen by 70 per cent since Thursday, when Argentina’s Government called for a boycott of its products because of the group’s decision to raise prices.” (ShellNews.net) 15 March 05

Lloyds List: New Phoenix oil find set to be satellite of Nelson platform: Royal Dutch/Shell is already making plans for its recent discovery in the central sector, writes Martyn Wingrove: “ROYAL Dutch/Shell has discovered oil in the UK central North Sea…” (ShellNews.net) 15 March 05

Lloyds List: Shell adds to investment in Gulf region: Projects are seen as long-term commitment to the region, writes Shirish Nadkarni in Dubai: “ROYAL Dutch/Shell is to invest $12bn in the Persian Gulf region over the next eight years in various oil and gas projects. This would be in addition to the $2.6bn it has already invested over the past five years.” (ShellNews.net) 15 March 05

Lloyds List: Paladin buys into Laminaria field: “SHELL has sold its stake in the Laminaria-Corallina oil fields and the Northern Endeavour production ship off northwest Australia to London-based independent Paladin Resources and Woodside Energy in a $140m deal.” (ShellNews.net) 15 March 05

Irish Times: New review of Corrib pipeline project ordered on safety issues: “Minister for Communications Noel Dempsey has ordered a new review of Shell E&P Ireland’s plans for the Corrib gas pipeline in north Mayo on public safety grounds. The development comes as a High Court hearing into the company’s legal action against landowners in north Mayo was adjourned yesterday until Friday.” (ShellNews.net) 15 March 05

FINANCIAL TIMES: BP and Kuwait seek China investments: “BP is in competition with consortia led by ChevronTexaco and Royal Dutch/ Shell.” (ShellNews.net) 15 March 05

Wednesday, 16 March 2005

THE INDEPENDENT (UK): Market Report: Concern over sliding sales hits Morrisons: “Meanwhile, punters piled into BG Group, which stood at the top of the blue-chip gainers’ list. Its shares rose8.25p to 422.25p, as rumours of a bid for the gas group once again did the rounds of City dealing rooms. According to yesterday’s speculation, an oil major, possibly Shell, is looking to buy the company. BG is, by industry standards, something of a minnow, but boasts expensive reserves.” (ShellNews.net) 16 March 05

DAILY TELEGRAPH (UK): Market report: “Away from the races, the bets are riding on bid targets: “Traders were busy speculating which company would be the next bid target yesterday, with some placing their bets on BG…”: “The chatter pushed BG up 8¼ to an all-time high of 422¼p on renewed speculation that Shell, 1½ higher at 493p, may be considering an offer.” (ShellNews.net) 16 March 05

THE LONDON TIMES: Wm Morrison leads fallers on fears of sales slowdown: “The FTSE 100 put on 8¼p at 422¼p, led by BG Group, up a further 8¼p at 422¼p on revived hopes that its strong reserve base will make it a target for the likes of Shell…” (ShellNews.net) 16 March 05

THE GUARDIAN (UK): ASK KATHLEEN: Can a firm debit us without providing a service?: “Shell Gas stopped delivering gas to us in April last year and still has £231.44 we paid to the company in monthly installments by direct debit. We cancelled the direct debit in October 2004 and have made numerous phone calls and written two letters but, despite all kinds of promises, have not had our money returned” (ShellNews.net) Posted 16 March 05

THE WALL STREET JOURNAL: Tokyo Gas Exec: Gazprom Leads On Sakhalin II Stake Talk: “On Monday, Shell said it was in talks with Gazprom, but also other companies to sell a stake in the $12 billion project.” (ShellNews.net) Posted 16 March 05

allAfrica.com: Ijaw $1.5bn Lawsuit Against Shell Suffers Setback (ShellNews.net) 16 March 05

Thursday, 17 March 2005

Houston Chronicle: Shell proposes dropping stock options for executives: “Shell has been under heavy scrutiny since it admitted last year it had overstated its proven oil reserves and reduced the figure several times”: “The oil reserves scandal cost the company almost $150 million in fines imposed by U.S. and British regulators and led to the sacking of three senior executives.” (ShellNews.net) 17 March 05

The Scotsman: Shell Directors Lose Stock-Option Grants: “overshadowed by the fifth downgrade to the company’s oil and gas reserves of 10%, or 1.4 billion barrels. In addition, Shell said it only replaced between 15% and 25% of oil used in 2004. The string of reserves downgrades sparked the biggest crisis in the company’s history, leading to the departure of three senior executives, regulatory fines and prompting moves to merge Shell’s UK and Dutch parent firms after nearly 100 years of separate operations.” (ShellNews.net) 17 March 05

Reuters: Shell sets tougher executive remuneration policies: “Oil major Royal Dutch/Shell has announced more stringent remuneration policies for executives, as it continues to try to win back investor confidence after a reserves scandal last year” (ShellNews.net) 17 March 05

THE WALL STREET JOURNAL: Royal Dutch Shell To Revise Directors Renumerations (ShellNews.net) 17 March 05

Reuters: Shipping law may hit Shell’s LNG plan: “The Indian unit of Royal Dutch/Shell plans to commission its liquefied natural gas (LNG) terminal next month but is concerned Indian shipping rules may hurt its operations, government and company officials said” (ShellNews.net) 17 March 05

Los Angeles Times: Shell Oil’s Bakersfield Refinery, Once Set to Close, Changes Hands: “Shell Oil Co. has quietly handed its Bakersfield refinery, once slated for closure, to new owner Flying J Inc., a Utah truck stop operator.” (ShellNews.net) 17 March 05

FINANCIAL TIMES: Advancing payments may affect oil companies’ cash flow: “While not entirely happy about another clever tax grab by the Treasury yesterday, oil companies put on a brave face over the decision to bring forward their tax payments on North Sea revenues.”: “Royal Dutch/Shell said: “We pay the same amount of tax, all it means is we pay it sooner.” (ShellNews.net) 17 March 05

The Guardian (UK): Clawback reaped from booming oil sector: “Oil companies were hit by a £1.1bn tax surprise yesterday…”: “Shell, which produces 22% of North Sea output along with its partners, played down the impact of the changes.”: “…consumers are angered by firms such as Shell which made a £9.4bn profit.” (ShellNews.net) 17 March 05

DAILY TELEGRAPH (UK): Oil Tax: Revenue takes a dip in North Sea: “This will allow HM Treasury to collect £1.1 billion extra in tax before April 5, 2006 as most large oil companies, such as Shell and BP, have December 31 year ends.” (ShellNews.net) 17 March 05

Irish Independent: Bid to halt gas works adjourned: “AN application by environmentalist Peter Sweetman for an order to stop works on a proposed terminus for the Shell gasfield on the Mayo coast was adjourned in the High Court yesterday until April 4.” (ShellNews.net) 17 March 05

THE WALL STREET JOURNAL: Flying J Closes Deal To Purchase Shell Calif Refinery: “Flying J Inc., completed its purchase of the Bakersfield, Calif., refinery from Shell Oil Corp. on Wednesday, according to a Shell spokesman (ShellNews.net) Posted 17 March 05

PoliticsNI.com, Ireland: How can we be sure of Shell ask Greens: “The High Court today ruled that Shell must permit an independent inspection of its Bellanaboy gas terminal site.”: ““It is remarkable that Shell refused the application for a site visit; one wonders what they have to hide. Global corporations such as Shell have a particular responsibility to apply the best codes of corporate governance. That responsibility starts with them being fully open and transparent in their dealings with the public.” “Thankfully the High Court refused Shell’s arguments…” (ShellNews.net) Posted 17 March 05

Yahoo! News: Shell and Motiva Join American Red Cross’ Circle of Humanitarians: Shell’s and Motiva’s Donation to Tsunami Relief Efforts Is Largest of Any Houston Company: Press Release Source: Shell Oil Company (ShellNews.net) Posted 17 March 05

Friday, 18 March 2005

THE NEW YORK TIMES: Judge Fines Motiva $10M in Tank Explosion: “Motiva, a joint supply venture between Shell and Saudi Refining…”: “…pleaded no contest to state charges of criminally negligent homicide…”: “The company… has paid more than $60 million to settle lawsuits”: “It is still the subject of a federal lawsuit…” (ShellNews.net) Posted 18 March 05

expatica.com: Shell stock options for executives: “Shell… had an “annus horribilis” in 2004 as it was forced to downgrade its estimate of oil reserves on several occasions. The scandal cost chairman Sir Philip Watts and other executives their jobs.” (ShellNews.net) Posted 18 March 05

FINANCIAL TIMES: Shell to pay in restricted shares: “Royal Dutch/Shell has announced details of new executive pay plans designed to motivate senior management after a year of turmoil in which it cut its proved oil and gas reserves by almost a third and parted company with its three top executives.” (ShellNews.net) 18 March 05

The Guardian (UK): Shell to drop options for directors : “Shell failed to give any details of a possible rise in basic pay for the new chief executive Jeroen van der Veer, who was appointed after last year’s reserving scandal.” (ShellNews.net) 18 March 05

THE LONDON TIMES: Chiefs at Shell must eclipse rivals to win shares: “After a year of turmoil in which three directors lost their jobs over the misreporting of reserves, Shell is keen to link reward to performance. Sir Philip Watts, the former chairman and managing director, received £1 million in severance pay after his dismissal over the reserves scandal.” (ShellNews.net) 18 March 05

DAILY TELEGRAPH (UK): Shell bosses face shares shake-up (ShellNews.net) 18 March 05

FINANCIAL TIMES: Deal signed to expose bribery: Sir Mark Moody-Stuart, chairman of the mining company Anglo-American… criticised the International Monetary Fund and the World Bank for not taking more of a direct role in auditing revenues.” (ShellNews.net) Posted 18 March 05 (PLUS RELATED COMMENTARY BY THE PUBLISHER OF THIS WEBSITE: “Sir Mark Moody-Stuart once again displays breathtaking hypocrisy on the subject of bribery…”)

CBS MarketWatch: Shell refining unit to pay $10 million: “The fine stems from an incident on July 17, 2001 when 415,000-gallon tank exploded, spewing spent sulfuric acid, which contains flammable hydrocarbons, into the air. One worker was killed and many others were injured. The waste spilled into the Delaware River and killed thousands of fish and crabs.”: “The Justice Department noted that the $10 million criminal environmental fine is the largest in Delaware history.” (ShellNews.net) 18 March 05

Saturday, 19 March 2005

Salon.com: Running on empty: The leading energy analysts who foretold Enron’s demise have an alarming new claim: The world’s major oil companies are almost tapped out.: “A spokesman for Royal Dutch/Shell in London was similarly coy, saying in an e-mail that the company had “no comment” on Herold’s projection” (ShellNews.net) Posted 19 march 05

DAILY TELEGRAPH (UK): Education: Lesson Plans: Business studies: QUESTION: 1. Memos are just one form of communication within a business. What other forms of communication are used by businesses, and what are the advantages and disadvantages of each? Featured Article: “Memos expose Shell’s years of lying (ShellNews.net) 19 March 05

Irish Times: Shell seeks stop to gas pipeline protests: “An application by a Shell company for orders restraining five Co Mayo people from interfering with the construction of a gas pipeline from the Corrib gas field across their lands has opened before the president of the High Court. A similar order is also sought against an environmentalist, Peter Sweetman.” (ShellNews.net) 19 March 05

Irish Independent: Shell takes land owners to court in dispute over gas pipeline: “OIL giant Shell has begun a High Court action against a number of landowners who have tried to stop the company laying a gas pipeline on their lands. The application by Shell E & P Ireland Ltd for orders restraining six people from interfering with the construction of the pipeline…” (ShellNews.net) 19 March 05

Petroleum News: Shell exec: Atlantic Canada LNG projects face tough hurdle: “A Shell executive cooled some of the growing optimism for Canada’s first two liquefied natural gas projects…” (ShellNews.net) Posted 19 March 05

THE WALL STREET JOURNAL: Defense Contracts Announced Friday: “Royal Dutch/Shell (RD) Shell Oil Products U.S. unit received a $472.9 million economic price adjustment contract for JP-5 and JP-8 jet fuel for the Defense Energy Support Center.” (ShellNews.net) Posted 19 March 05

The Guardian (UK): Cornelia Dibua, who works at Shell’s HQ in London, talks to Miles Brignall: “…my official title is group reporting business analyst for oil products and my principal role is help to assemble the annual report.”: “Given what has happened in recent years and new stories that emerged about the way the company represented its untapped oil reserves, it’s certainly a high profile role within the company.” (ShellNews.net) 19 March 05

Business Times (Malaysia): Shell ops will boost rentals in Miri: “RENTALS for houses in Miri, especially in the higher-end category, are expected to jump significantly this year after the area was designated as Shell Group’s Asia Pacific exploration hub and Shell Malaysia’s upstream base. The status is expected to see an influx of Shell Malaysia staff and contractors into Miri.” (ShellNews.net) 19 March 05

Sunday, 20 March 2005

The Observer (UK): Britain honours hanged hero as legal war rages on: “In the US courts he is pursuing a legal action against Shell, accusing the oil giant of aiding and abetting the torture and murder of Saro-Wiwa and other members of the Ogoni tribe…” (ShellNews.net) 20 March 05

The Observer (UK): Trouble in the pipeline: Nick Mathiason on how Shell’s controversial Pacific island project has very shaky foundations: “It is the world’s most expensive oil and gas pipeline. Costing over $12 billion…”: “With its reserves dwindling, Shell, which controls 55 per cent of the project, is hoping to get lenders to back it this year. The project is already $2bn over budget and every delay risks escalating costs.” (ShellNews.net) 20 March 05

emptywells.com: US: In the grip of oil – Coming to terms with the new realities of supply, pricing:Extremists have warned for years of an impending economic disaster due to the end of oil; the movement is dubbed “Peak Oil.” It posits that one day all the oil in the world will be depleted, prices will soar and disaster will ensue. And many are saying that day has come.” (ShellNews.net) Posted 20 March 05

newsday.com: Number of N.J. gas stations has tumbled 24 percent: “After the 2001 Chevron-Texaco merger, the new company was forced by the federal government to divest itself of thousands of Texaco stations owned by a joint venture between Texaco and Shell. They now operate as Shell stations, although some have been closed down and boarded up.” (ShellNews.net) Posted 20 March 05

Monday, 21 March 2005

Corporate Board Member Magazine (March/April 2005 issue): Shell Rebuilds Itself: “Investors are still divided about the culpability of Shell’s directors in the reserves debacle.”: “The stock price plummeted—losing some $22 billion in value at its nadir—and the bond-rating agencies stripped Shell of its triple-A rating. Class-action suits were springing up in the U.S. like poisonous toadstools.”: “…Lord Oxburgh conceded that Shell executives had been “economic with what they passed on to the board. Evidence of just how “economic” Watts & Co. had been soon began to mount…”: “The Shell board recognized that its top priority was restoring the company’s reputation…”: “William S. Lerach—the California corporate scourge whose law firm brought a consolidated U.S. class-action suit on behalf of shareholders against Shell, its executives, and its directors for mismanagement and fraud—judges the reforms timid and inadequate” (ShellNews.net) 21 March 05

AFX Europe (Focus): Shell looks to supply LNG to Chinese oil firms: “Royal Dutch/Shell Group said it wants to supply liquefied natural gas (LNG) to China’s oil majors in an effort to secure a share of the country’s growing and lucrative market.” (ShellNews.net) 21 March 05

menareport.com (Middle East): Iraq plans to raise oil output to 6 million bpd: “The Iraqi oil ministry discusses with Shell financing the construction of oil refinery in Baghdad to meet the current demand for oil products.” (ShellNews.net) Posted 21 March 05

Daily News (Sri Lanka): Shell helps dealers rebuild their livelihood in tsunami affected areas (ShellNews.net) Posted 21 March 05

Tuesday, 22 March 2005

allAfrica.com: Shell Makes New Oil Discovery in Bonga Field(ShellNews.net) 22 March 05

FINANCIAL TIMES: Nigerian oil unions prepare to strike: “Two main unions said they would give the state energy company, NNPC, and Royal Dutch/Shell, Nigeria’s biggest oil producer, two weeks after the initial strike to stop job cuts made without consulting the unions, or they could strike again.” (ShellNews.net) 22 March 05

adweek.com: Shell Revises Media Review Timetable: “NEW YORK Shell Group said it has revised the timetable for final presentations and a decision in the review for its $240 million global media account.” (ShellNews.net) Posted 22 March 05

Bloomberg: Shell, India Fuel Sellers May Spend $1 Bln on Outlets (ShellNews.net) 22 March 05

AFX Europe (Focus): Royal Dutch/Shell, Kuwait Petroleum in global strategic partnership: “”This strategic partnership will seek opportunities around the world for leveraging Shell’s global downstream experience with Kuwait’s hydrocarbon resources and growing downstream investments,” said Rob Routs, Shell Executive Director Downstream.” (ShellNews.net) 22 March 05

Reuters: Shell, Kuwait sign pact to seek China, India deals: “KPI said it hoped the deal could pave the way for new refineries to handle heavy Kuwaiti crude, something which would ease a key bottleneck in the global oil market.” (ShellNews.net) 22 March 05

THE WALL STREET JOURNAL: Shell Strikes Downstream Alliance With Kuwait: “A Shell spokeswoman said the two partners will explore future opportunities within the whole downstream value chain, from refining crude to retail fuel sales. (ShellNews.net) 22 March 05

Business Wire: Datawave Completes Roll-Out of Posa Technology to Shell Stores Across Canada: “This technology allows the stores sell a wide range of prepaid products, including long distance and cellular time” (ShellNews.net) 22 March 05

THE WALL STREET JOURNAL: U.K. Fund Managers Beef Up Shell Stakes Ahead of Reshuffling: “Shell was wrestling with a drawn-out accounting scandal, and its share price languished. But since Shell announced a restructuring in late October, the Anglo-Dutch oil giant has handily outdistanced rival BP. Are investors buying Shell’s turnaround story? Maybe not. (ShellNews.net) Posted 22 March 05

THE WALL STREET JOURNAL: Oil Fuels Unrest in Nigeria: “The demonstration forced Royal Dutch/Shell Group to evacuate staff and shut down production for a month, knocking out 10% of the company’s oil output in the country.” (ShellNews.net) Posted 22 March 05

THE WALL STREET JOURNAL: Argentina Esso, Shell See Sales Down After Price Hikes: “The Argentine units of Royal Dutch/Shell Group… have seen pump sales drop 38%… since the companies raised prices earlier this month.” (ShellNews.net) Posted 22 March 05

Business World: Shell takes Mayo landowners to court: “The case began on Friday and will resume on Wednesday of this week”: (ShellNews.net) Posted 22 March 05

ABC.net (Australia): Tainted fuel leaves PNG air passengers grounded: “Their major fuel supplier, Shell PNG, says the most recent shipment of fuel did not pass international aviation gas standards.” (ShellNews.net) 22 March 05

The National (Papua New Guinea): Shell announces contingency plan: “Shell commercial manager Peter Walsh said yesterday that the diversion would only be able to supply aviation fuel for up to 20 days. The shortage issue however will not affect any other fuels supplied by Shell, the company said.”  (ShellNews.net) 22 March 05

Reuters: Tax hike could halt Nigerian oil projects – Shell: “A proposed hike in Nigerian oil taxes could halt new offshore oil projects just as the country is trying to attract new investors, Royal Dutch/Shell said on Monday.” (ShellNews.net) Posted 22 March 05

Wednesday, 23 March 2005

TomDispatch.com: The Energy Crunch to Come, Soaring Oil Profits, Declining Discoveries, and Danger Signs: “Royal Dutch/Shell, already reeling from admissions last year that it had over-stated its oil and natural gas reserves by 20%, recently lowered its estimated holdings by another 10%, bringing its net loss to the equivalent of 5.3 billion barrels of oil. Even more worrisome, Shell announced in February that it had replaced only about 45-55% of the oil and gas it produced in 2004, an unexpectedly disappointing figure.” (ShellNews.net) 23 March 05

THE WALL STREET JOURNAL: Shell and Kuwait Team Up to Focus On India, China (ShellNews.net) 23 March 05

FINANCIAL TIMES: Shell is following BP with Kuwait Petroleum venture: “BP leads one of the consortia while Shell is part of a rival bidding team led by ExxonMobil. ChevronTexaco leads the third consortium.” (ShellNews.net) 23 March 05

The Guardian (UK): Fight to the death: As the 10th anniversary of the execution of Ken Saro-Wiwa approaches, William Boyd remembers a courageous friend and fellow writer who took on Shell and the Nigerian government: “He became a David who challenged two redoubtable Goliaths: a multinational oil company and a corrupt military regime”: “He built a case against Shell and the Nigerian government that was impossible to refute (ShellNews.net) 23 March 05

Thursday, 24 March 2005

AME Info (United Arab Emirates): Shell corporate brand launch: “Shell International is launching its corporate brand campaign in Dubai in collaboration with CNBC Europe and The Wall Street Journal…” (ShellNews.net) 24 March 05

Business Times (Malaysia): Shell to add high-value IT services: “THE Royal Dutch/Shell group plans to include several new high-value information technology (IT) services to Cyberjaya-based Shell Information Technology International Sdn Bhd (SITI) this year…” (ShellNews.net) 24 March 05

THE INDEPENDENT (UK): How ethical is that job?: “Take a company such as Shell. The Brent Spar fiasco [in which Shell was forced to back down from dumping an oil storage platform at sea] made a major dent in its reputation. Such companies realise that reputation rather than share price is what will attract the brightest talent.” (ShellNews.net) 24 March 05

DAILY TELEGRAPH (UK): MPs call on oil majors to share profits in ‘fuel poverty’ fight: Big oil companies should either donate some of their record profits to help combat fuel poverty or face a windfall tax, a select committee of MPs said yesterday.: “BP and Shell recently announced combined profits of £18billion for 2004.” (ShellNews.net) 24 March 05

THE INDEPENDENT (UK): MPs blame DTI ministers for gas shortages: “The committee said it had found no evidence of gas producers colluding with one another or withholding supplies to drive up prices. It also ruled out a windfall tax on North Sea oil companies but said companies such as BP and Shell, should consider “jumping before they are pushed” by providing financial support for those hit hardest by rising domestic fuel bills.” (ShellNews.net) 24 March 05

Lloyds List: Chartering club fixes Norway rigs: “OIL companies operating in Norway have formed a drilling rig chartering club, fixing three rigs on long-term contracts totalling $473m.”: “…Norsk Hydro, Shell and Eni.” (ShellNews.net) 24 March 05

THE STANDARD (CHINA): Crash fears as oil minnows swim into big money pond: “Make way for the black gold rush … “ (ShellNews.net) 24 March 05

fromthewilderness.com: “THE FIRE IS NO LONGER ON ITS WAY – IT HAS BEGUN”: “Royal Dutch/Shell Group on 5 February 2005 cut its 2002 published estimate of its total oil and gas holdings by one-third. It reduced its 2003 estimate of oil reserves by 1.4 billion barrels, or 9.8 per cent, and admitted that two-thirds of its listed prospective wells in 2004 were in fact dry holes. Shell has been fined $US151.5 million for misleading stock markets. The US justice department is undertaking a criminal investigation. Given that company value is directly related to oil reserves, it is not surprising that Shell has lost its top-tier credit rating.” (ShellNews.net) Posted 24 March 05

The National (Papua New Guinea): Napanap fuel shipment contaminated, says Shell: “SHELL has announced that a shipment of jet fuel from the InterOil owned Napanapa oil refinery was contaminated and samples have been sent to Australia for testing.” (ShellNews.net) 24 March 05

GOOD FRIDAY, 25 March 2005

Journal-News.com (Ohio): County signs off on $10M Shell settlement: “…the county’s claim contends the defendants knew the pipes were unsuitable for water service, misrepresented the quality of the piping, violated expressed and implied warranties, committed fraud, engaged in deceptive trade practices, and created a public nuisance” (ShellNews.net) 25 March 05

THE GLOBE & MAIL (CANADA): Shell eyes $17-billion expansion: “Shell Canada Ltd. and its partners are in talks about spending $17-billion over the next decade to triple production at their oil sands project” (ShellNews.net) 25 March 05

The Independent (United Kingdom): THE INVESTMENT COLUMN: Cairn to reward long-term investors: “Cairn has had an extraordinary few years, buying a block of land in north- western India from Shell and then discovering it was sitting on at least a billion barrels.” (ShellNews.net) 25 March 05

THE INDEPENDENT (UK): Business Analysis: BP faces litigation risk after massive refinery fire: “BP AT FOREFRONT OF PLANS TO DRILL IN ARCTIC WILDLIFE SANCTUARY: “If drilling does start, participants in the project – which could include Exxon Mobil, ConocoPhillips, Royal Dutch/Shell and ChevronTexaco as well as BP – are likely to face environmental protests. Barbara Boxer, the liberal California Senator, has already threatened to organise a boycott.” (ShellNews.net) 25 March 05

BLOOMBERG: Shell Canada, Oil-Sands Partners May Spend C$17 Bln: “Shell Canada Ltd. and its partners in an Alberta oil-sands venture may spend as much as C$17 billion ($14 billion) in the next decade to double production.” (ShellNews.net) Posted 25 March 05

Saturday, 26 March 2005

FINANCIAL TIMES: Oil in troubled waters: The Shell report, by WAC Global Services, a group of conflict management specialists, says earnings from oil theft have made it possible for militias to buy thousands of weapons, including former Soviet-type small arms, rocket launchers and possibly short-range missiles. Unrest in the Delta could force the company out of onshore production by 2008 unless it was prepared to violate its business principles, the report concludes. “It is clear that [Shell] is part of Niger Delta conflict dynamics and that its social licence to operate is fast eroding,” the report says.” (ShellNews.net) 26 March 05

Sunday, 27 March 2005

THE MIAMI HERALD: Shell grows oil venture: Alberta has two thirds as much oil as Saudi Arabia, and in an era of high prices, Shell Canada and its partners are ready to expand their operations in the region. (ShellNews.net) Posted 27 March 05

THE NEW YORK TIMES: What Happens Once the Oil Runs Out? “I used to work with Mr. Hubbert at Shell Oil, and my own independent research places the peak of world oil production late this year or early in 2006.” (ShellNews.net) Posted 27 March 05

THE SUNDAY TELEGRAPH (UK): Bidders balk at First Calgary price tag: “Ten of the world’s largest energy groups, including Shell and Total, are studying information about First Calgary ahead of a mid-April deadline to submit binding offers.” (ShellNews.net) 27 March 05

THE SUNDAY TIMES (UK): Investors cash in on oil price boom: Crude is trading at record levels, but some experts say it could be time to bank profits, writes David Budworth.: “…could the oil boom be a bubble that is about to burst? (ShellNews.net) 27 March 05

The Arizona Republic: Companies champ at Iraqi oil bits: Fertile ground for expansion, new contracts: “The world’s three biggest integrated oil companies – BP PLC, ExxonMobil Corp. and Royal Dutch/Shell Group of Cos. – recently struck cooperation or training deals with Iraq.” (ShellNews.net) 27 March 05

Monday, 28 March 2005

BBC Monitoring Service (UK): Libya to announce oil investment projects: “The study of the results and phases of negotiation aimed at reaching a gas development agreement with “Shell” also started” (ShellNews.net) 28 March 05

InstitutionalInvestor.com: Shell To Hire First External Managers (ShellNews.net) 28 March 05

The Indianapolis Star: To be candid, station has you on camera: Bobby Key’s Shell station is equipped with 48 cameras to deter gasoline theft and catch people who drive off without paying. Images are displayed on three computer screens. “I would not be in business without the system,” Key said.: “At his Cloverdale operation, there are 64 of them.” (ShellNews.net) 28 March 05

Tuesday, 29 March 2005

allAfrica.com: Shell Decries New PSC Tax Hike: “A proposed hike in Nigerian oil taxes could halt new offshore oil projects just as the country is trying to attract new investors, Shell has declared.” (ShellNews.net) 29 March 05

FINANCIAL TIMES: Depleted talent reserves threaten oil companies: “Royal Dutch/Shell, hoping to recruit 1,000 engineers this year to help it escape its reserves crisis, has recently returned to the university careers circuit after abandoning it some years ago.” (ShellNews.net) 29 March 05

AFX Europe (Focus): Australia’s North West Shelf gas project receives boost from gas discovery (ShellNews.net) 29 March 05

Wednesday, 30 March 2005

BBC NEWS: Shell guilty over gas leak deaths: “Oil giants Shell has admitted three charges over the deaths of two workers in the North Sea two years ago.” (ShellNews.net) 30 March 05

THE NEW YORK TIMES: Shell to Reroute Pipelines in Project: “Royal Dutch/Shell said Wednesday it would reroute planned pipelines at its oil and gas project off the Russian Pacific island of Sakhalin, bowing to environmentalists’ demands who said the pipelines passed too close to the feeding grounds of the endangered gray whale” (ShellNews.net) 30 March 05

FINANCIAL TIMES: Shell re-routes pipeline for sake of whales: “Royal Dutch/Shell has been forced to re-route a pipeline on its $12bn Sakhalin 2 project in eastern Russia because it threatened the survival of the western grey whale.” (ShellNews.net) 30 March 05

THE NEW YORK TIMES: GM in Fuel Cell Deal with Energy Dept.: “In a separate commercial agreement, Shell Hydrogen, LLC will support GM by setting up five hydrogen refueling stations in Washington, D.C., New York City, between Washington D.C. and New York and in California.” (ShellNews.net) 30 March 05

FINANCIAL TIMES: CNOOC head admits to delays in LNG projects: “The company also said yesterday that there was no longer a timetable for closing a deal with the Australian Gorgon venture – controlled by a consortium of ChevronTexaco, Shell and ExxonMobil – to supply its LNG terminal in Shanghai.” (ShellNews.net) 30 March 05

Borneo Bulletin: ‘Life After Shell Workshop’ (ShellNews.net) 30 March 05

Thursday, 31 March 2005

CNN: Shell pumps twice as much as it finds (ShellNews.net) 31 March 05

Friends of the Earth: Shell’s new Sakhalin II pipeline route still puts whales at risk (ShellNews.net) 31 March 05

THE SCOTSMAN: Inquiry call as Shell admits safety breach in which two died: “Shell admitted the amended charges at Stonehaven Sheriff Court yesterday.”: “A spokesman said the firm had pleaded guilty to three amended charges under the Health and Safety at Work Act in relation to the incident. He said the company could not give out any further details as legal proceedings were ongoing.” (ShellNews.net) 31 March 05

THE SCOTSMAN: Shell Confirms Position on Reserves: “Oil giant Shell revealed the extent of its declining reserves today after replacing only 19% of the oil that was pumped out of the ground in 2004.” (ShellNews.net) 31 March 05

Business Week: Shell reveals reserves fell last year: “The Royal Dutch/Shell Group of Cos., still recovering from a scandal that forced it to drastically reduce the level of its proven reserves, revealed Thursday that its oil and gas reserves fell by a further billion barrels last year.” (ShellNews.net) 31 March

LONDON EVENING STANDARD: Shell denies Improper deals’ sacking report(ShellNews.net) 31 March 05

London Evening Standard: Shell reveals new fall in reserves: “OIL AND gas reserves have fallen by a further billion barrels at Anglo-Dutch giant Shell…”: “Shell today published a mammoth 264-page document filed with US regulators which confirms what analysts feared – the group replaced only 19% of its production last year with new fields.” (ShellNews.net) 31 March 05

THE WALL STREET JOURNAL: Shell Lent Former Directors $12M For Legal Costs In 04: “Royal Dutch/Shell said in a filing released Thursday it was in settlement talks on some of the class action litigation unleashed after it was forced to reclassify its oil reserves” (ShellNews.net) 31 March 05

Forbes: Shell Reports 11.9 Billion-Barrel Reserves: “Shell, which paid US$150 million in fines to British and U.S. regulators over the reserves scandal, also said its reserve replacement ratio – or how much oil it replaces for that pulled from the ground – was 19 percent for 2004…”: “Rivals such as Britain’s BP PLC and U.S. giant Exxon Mobil Corp. have reserves replacement ratios of more than 100 percent.” (ShellNews.net) 31 March 05

THE WALL STREET JOURNAL: Shell Says Reserve Replacement Ratio Was 49% In 04: “In addition, with the filing of the 2004 annual report on Form 20-F, Shell said it remains on schedule with the timetable for the proposals to shareholders for the unification of the Royal Dutch/Shell Group of Companies under a single parent company, Royal Dutch Shell plc.” (ShellNews.net) 31 March 05

FT.com: London climbs as Shell reiterates targets: “Back in London, shares in Shell were 1.1 per cent higher at 481p after the Anglo Dutch oil giant reiterated its target to replace 100 per cent of the oil it intends to pump between 2004 and 2008 with proven reserves of fresh supplies.” (ShellNews.net) 31 March 05

The Guardian: Shell reroutes Sakhalin pipeline to avoid feeding ground: “Shell has admitted the need to move the route of Sakhalin II, but unless it moves the oil platform, the future of the western grey whale is still in jeopardy,” said Nick Rau, Friends of the Earth’s oil campaigner.” (ShellNews.net) 31 March 05

AFX Europe (Focus): Royal Dutch/Shell says 2004 net income was 18.2 bln usd under US GAAP rules: “The group also said its Reserve Replacement Ratio (RRR), excluding the impact of divestments and year-end pricing and including associates, was 49 pct, within the 45-55 pct range provided on Feb 3.” (ShellNews.net) 31 March 05

Daily Telegraph (UK): Shell reroutes pipelines for rare whales: “Environmentalist groups attacked the decision, saying that moving the pipeline would not be enough to safeguard the whales.” (ShellNews.net) 31 March 05

THE INDEPENDENT (UK): Shell changes oil pipe route to avoid endangered whales: “But Friends of the Earth said the proposed location of the drilling platform was too close to the feeding ground and would disrupt the western grey whales.” (ShellNews.net) 31 March 05

THE LONDON TIMES: What it’s like working for … Shell?: Working at the oil giant can be pressured and tough, but hard work buys goodwill and flexibility (ShellNews.net) March 31, 2005

THE WALL STREET JOURNAL: UPDATE: US DOE Secy Sees No Quick Answer To High Oil Prices: “…Shell Hydrogen LLC will set up five hydrogen-refueling stations in Washington, New York, California and along the Eastern seaboard.”  (ShellNews.net) Posted 31 March 05

THE WALL STREET JOURNAL: Nigerian Oil Strike Threat Only A Whimper: “Nigeria’s oil unions – which once sent world oil prices soaring with the mere threat of a strike – now admit they muster at best only feeble resistance to the oil companies.” (ShellNews.net) Posted 31 March 05

newratings.com: Shell Finances Not Hit By Whale Diversion (ShellNews.net) Posted 31 March 05

Daily Express (Sabah, Malaysia) Results alone are no guarantee: Shell MD: “Profitability and high returns to stakeholders are among the distinguishing characteristics of high performing companies but results alone are insufficient to maintain a high performance culture, said Chairman of Shell Companies in Malaysia Datuk Jon Chadwick” (ShellNews.net) Posted 31 March 05

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