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May 13th, 2005:

Oil Firms Under The Gun In Revenue-Hungry Venezuela

THE WALL STREET JOURNAL: Oil Firms Under The Gun In Revenue-Hungry Venezuela

Posted 13 May 05

By PETER MILLARD Of DOW JONES NEWSWIRES

CARACAS — Venezuelan President Hugo Chavez, intent on getting more money from the oil industry to finance state programs, has sent private firms scrambling to get a grip on tax policy changes.

Venezuela has been changing the rules on oil taxes since last October, when it abruptly scrapped a royalty tax holiday on four heavy crude projects.

That was just the start. Early this year state-run Petroleos de Venezuela (PVZ.YY) bullied ConocoPhillips (COP) into a royalty rate hike on an eastern oil field, Corocoro. Then the Seniat national tax office reclassified the tax rate for 32 oil service contracts in April, hiking the rate to 50% from the 34% rate in the original contracts. 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.

Hong Kong Standard: Shell, PetroChina gas project revived

Hong Kong Standard: Shell, PetroChina gas project revived

Karen Teo

May 13, 2005

Royal Dutch/Shell still wants to play a big role in China’s gas sector. XINHUA

Failure to invest in PetroChina’s West-to-East gas pipeline megaproject has done nothing to dampen Royal Dutch/Shell’s enthusiasm to participate in other China gas projects.

The supermajor and PetroChina are close to signing a final agreement to jointly develop the Changbei gas field in northwest China’s Ordos Basin, Shell’s first onshore upstream development in the country, sources said. 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.

Shell Solar Gets 1.28 Mln Euro China Solar Power Contract

THE WALL STREET JOURNAL: Shell Solar Gets 1.28 Mln Euro China Solar Power Contract

Posted 13 May 05

DOW JONES NEWSWIRES

BEIJING — Shell Solar GmbH, has won a 1.28 million euro (CNY13.6 million) contract to provide solar power to 12 remote villages in Northwest China’s Qinghai province, the company said Thursday.

The solar photovoltaic unit of Royal Dutch/Shell Group (RD) will install systems producing up to 80 kilowatt peak of electricity for 551 households which up to now haven’t had electricity connections, a Shell statement said.

Installation is scheduled to be completed by the end of 2005, said Shell. 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.

Business Times (Malaysia): Shell unit to prepay outstanding balance of RM1.4b loans

Business Times (Malaysia): Shell unit to prepay outstanding balance of RM1.4b loans 

May 13 2005

SHELL Refining Co Bhd (SRC) said it will use a RM532 million syndicated term loan arranged by Bank of Tokyo-Mitsubishi to prepay outstanding balance of an existing loans of RM1.4 billion.

SRC signed the loan agreement with Bank of Tokyo-Mitsubishi in Kuala Lumpur yesterday.

Shell Malaysia chairman Datuk Jon Chadwick said the new term loan will enable the company take advantage of much more competitive financing rates as well as to improve its capital structure.

“This new term loan facility, which brings materially reduced financing costs and increased profitability to SRC and its shareholders, is testimony to our resolve and focus in achieving an optimal capital and financing structure for the company,” he told newsmen after the signing of the agreement. 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.

Repsol YPF considers joint bid for Royal Dutch Shell gas unit

THE TIMES (UK): Need to Know

May 13, 2005 

Repsol YPF, the Spanish- Argentine oil and gas group, said that it was in talks with private equity companies over a joint bid for the liquefied petroleum gas unit of Royal Dutch/Shell, which could be worth up to €3 billion (£2 billion). 

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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