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May 11th, 2005:

Venezuela To Bill Oil Firms 4 Yrs Of Back Taxes: Official

May 11th, 2005
by John Donovan.
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THE WALL STREET JOURNAL: Venezuela To Bill Oil Firms 4 Yrs Of Back Taxes: Official

Posted 11 May 05

DOW JONES NEWSWIRES

CARACAS — Venezuela will charge oil firms four years of back taxes on some operations as the government clamps down on the oil industry, a tax official said Tuesday.

Venezuela has been investigating 32 operating agreements with private oil firms for months, claiming they have not been paying enough taxes. Last month, the Seniat tax office raised the income tax rate on the projects to 50% from 34%, saying the oil firms were paying a cheap industrial rate under dodgy contracts signed in the 1990s. read more

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Shell To Work With Ukraine Naftogaz On Gas Exploration

May 11th, 2005
by John Donovan.
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THE WALL STREET JOURNAL: Shell To Work With Ukraine Naftogaz On Gas Exploration

11 May 2005

DOW JONES NEWSWIRES

LONDON — Royal Dutch/Shell (RD, SC) Tuesday struck a cooperation agreement to explore potential gas resources with Ukrainian national gas company Naftogaz Ukrainy (NGAZ.YY) in the Dniepr-Donets basin.

A person close to Shell said the deal, the first of its kind in Ukraine for an international oil major, could help the Anglo-Dutch company gets a foothold into the country’s hydrocarbons reserves.

The companies have agreed to cooperate in technical studies covering an agreed area of joint interest of over 30,000 square kilometers, with the potential for further enlargement, Shell said in a statement. read more

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The Washington Times: Ukraine natural gas exploration with Shell

May 11th, 2005
by John Donovan.
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The Washington Times: Ukraine natural gas exploration with Shell

11 May 2005

London, England, (UPI) — London-based Shell Exploration and a Ukrainian gas company Tuesday announced an agreement to explore and produce natural gas.

Naftogaz Ukrainy and the subsidiary of the Anglo-Dutch oil giant Royal Dutch Shell will conduct studies in the Dniepr-Donets Basin in northeastern Ukraine.

Shell Exploration said the basin “contains significant remaining undiscovered resources of natural gas. The recovery of these undiscovered resources is subject to considerable technological challenges and dependant on the application of modern insights and technology.” read more

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Shell pressed to take new faces aboard

May 11th, 2005
by John Donovan.
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London Evening Standard: Shell pressed to take new faces aboard

Posted 11 May 2005

James Rossiter, Evening Standard

F&C ASSET Management, one of Britain’s most powerful institutional investors, wants fresh blood brought on to the board of oil major Shell.

The call from F&C, which manages £125bn of funds, coincides with its new campaign for public companies to claw back bonuses paid to staff based on error-strewn accounts.

F&C corporate governance chief Karina Litvack and director Richard Singleton, who have dubbed their campaign Take the Money and Run, are encouraging companies ‘to write into contracts a degree of personal liability for fraudulent or negligent behaviour’. read more

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Iran Officials Say Shell Still After Key Oil Field Deal

May 11th, 2005
by John Donovan.
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iWon.com: Iran Officials Say Shell Still After Key Oil Field Deal

Posted 11 May 05

LONDON -(Dow Jones)- Only days after appearing to bow to intense U.S. pressure to withdraw from their reported talks with Iran on a petrochemicals deal, executives from Royal Dutch/Shell Group (RD,SC) are due in Tehran – this time to negotiate a role in one of the country’s largest oil developments, senior Iranian oil officials said Tuesday.

The officials said their upcoming talks with the Anglo-Dutch oil major will include its possible participation in the giant onshore Yadavaran oil structure. read more

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AFX Asia (Focus): Hong Kong’s Towngas in JV deal with Shell (China) in Hangzhou

May 11th, 2005
by John Donovan.
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AFX Asia (Focus): Hong Kong’s Towngas in JV deal with Shell (China) in Hangzhou

11 May 2005

HONG KONG (AFX) – Hong Kong and China Gas Co Ltd (Towngas) said it has entered into an agreement with Shell (China) Ltd and local operator Hangzhou Gas to build a natural gas facility in Hangzhou.

In a statement, Towngas said it and partners Shell and Hangzhou Gas (Group) will set up a new joint venture which will construct a 117-kilometer pipeline and two natural gas city gate stations in Hangzhou.

The companies will spend a combined 750 mln yuan for the project, the statement said. read more

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THE TIMES (UK): Need to Know: Global Business Briefing: Natural Resources

May 11th, 2005
by John Donovan.
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THE TIMES (UK): Need to Know: Global Business Briefing: Natural Resources

By Neelam Verjee and Joe Bolger

May 11, 2005

Natural Resources

Down 0.4%

Royal Dutch/Shell, the Anglo-Dutch oil group, has signed an exploration deal with Naftogaz of Ukraine to explore 30,000 sq km within the Dniepr-Donets basin.

BG Group, which said that first-quarter pre-tax profits were up 30 per cent to £438 million, accelerated the development of its Egyptian liquefied natural gas business after confirming that the first cargo shipments should be three months ahead of schedule.

Harmony Gold Mining is free to pursue its hostile $4.2 billion (£2.2 billion) takeover of Gold Fields, its larger rival, after South Africa’s competition tribunal approved the bid. read more

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Big is beautiful in a world of scarce energy resources

May 11th, 2005
by John Donovan.
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THE TIMES (UK): Big is beautiful in a world of scarce energy resources

“Together, BP and Shell have invested about $1 billion in solar cells, but it remains a fringe activity, an inefficient technology that loses money.”

European Briefing

By Carl Mortished

May 11, 2005

IF YOU want energy, think big. Think about power stations, oil platforms, a continent criss-crossed with pipelines, convoys of supertankers plying the oceans. If you like alternatives, think of a forest of windmills crowning every hill or a blanket of solar panels eclipsing French vineyards.

Whatever your preference, there is no avoiding the need for scale, huge scale. Our energy requirement is enormous and growing. Over the next 25 years the International Energy Agency reckons that the world will need 60 per cent more energy than is consumed today and the IEA estimates the need for an investment of $16 trillion (£8,500 billion) to make it happen. read more

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The Guardian: Rapid return to nuclear power ruled out

May 11th, 2005
by John Donovan.
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The Guardian (UK): Rapid return to nuclear power ruled out

Paul Brown, environment correspondent

Wednesday May 11, 2005

The government’s main scientific adviser on energy policy yesterday ruled out an immediate return to nuclear power.

Sir David King, the government’s chief scientist in charge of energy research and development, said speculation that nuclear power would make a comeback was premature.

“The British government viewpoint is that we must focus on renewables and energy efficiency, both clear winners in increasing the security of supply.” read more

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Daily Telegraph (UK): BG (aka Bid Gossip) is not likely to be gobbled up soon

May 11th, 2005
by John Donovan.
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Daily Telegraph (UK): BG (aka Bid Gossip) is not likely to be gobbled up soon

The Questor column

Edited by Philip Aldrick (Filed: 11/05/2005)

The thing about being a little fish in a big pond is that you either grow to fill it or get gobbled up by a bigger one. It’s an intriguing position for BG Group, the former exploration arm of British Gas that’s swimming with sharks such as BP and Shell.

Nicknamed Bid Gossip by some for the persistent takeover rumours, it is also growing rapidly. Yesterday’s first-quarter results showed production at 486,000 barrels of oil a day. BG plans to increase that to 580,000 by the end of next year. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Guardian (UK): Gas price fuels 44% BG profits rise

May 11th, 2005
by John Donovan.
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The Guardian (UK): Gas price fuels 44% BG profits rise

Terry Macalister

Wednesday May 11, 2005

BG, the gas exploration and production group, reported a 44% increase in first quarter profits yesterday, partly on the back of higher gas prices, but dismissed suggestions that it was responsible for soaring domestic energy costs.

Frank Chapman, chief executive of BG, warned that gas prices for retail and industrial customers in Britain would remain high for the foreseeable future as imports gradually took over from North Sea supplies.

Centrica, the energy supplier, which like BG was spun out of the old British Gas, upset consumer groups on Monday when it said that it could be forced to increase domestic fuel prices later this year – on top of the two rises it introduced in 2004. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Light sweet temptation: “What next for BG?”

May 11th, 2005
by John Donovan.
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Financial Times: Light sweet temptation: “What next for BG?”

Published: May 11 2005

What next for BG? That might seem like a churlish question, given the gas group’s excellent first quarter results. But it is also a valid one. A 44 per cent rise in profits mirrors the success of BP and Shell. Its two larger rivals, however, could not match a 7 per cent year-on-year increase in production. No wonder this medium-sized company trades on a par with the super-majors at a multiple of 7.2 times debt-adjusted cash flow for 2006.

Yet these results barely registered on BG’s share price yesterday. Success to date has been due largely to flawless exploitation of BG’s pre-demerger legacy of large-scale assets. It remains committed to an organic growth strategy. No-one doubts BG’s technical expertise – just look at the Manatee discovery in Trinidad. It has bought up new acreage from Brazil to Canada. Early signs are encouraging. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Qatar Hopes For Big Payoff From `Green’ Diesel Investment

May 11th, 2005
by John Donovan.
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THE WALL STREET JOURNAL: Qatar Hopes For Big Payoff From `Green’ Diesel Investment

11 May 05

DOW JONES NEWSWIRES

RAS LAFFAN INDUSTRIAL CITY, Qatar (AP)–The rat’s nest of pipes and columns snaking across the desert harbors a secret process that will use cobalt to turn natural gas into a powerful, clean-burning diesel fuel.

By next year, rulers of this tiny desert sheikdom hope, these gas-to-liquids (GTL) reactors under construction will bring in billions of dollars while clearing big city smog belched by trucks and buses.

Petroleum experts who have sniffed vials of gin-clear GTL diesel speak of it with reverence. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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