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Posts from ‘June, 2005’

Shell symmetry

Financial Times: Shell symmetry Thursday 30 June 2005 By Clay Harris Next only to chairman Lord Oxburgh, Peter Voser, Shell’s chief financial officer, deftly carried much of the burden at Tuesday’s marathon session that approved the unification of its Dutch and UK arms. His brief ranged far beyond financial matters, reflecting his operational experience not […]

Enjoy a free trip and get to ask Shell a question: By Sir Mark Moody-Stuart

Financial Times: Enjoy a free trip and get to ask Shell a question: By Sir Mark Moody-Stuart Thursday 30 June 2005 From Sir Mark Moody-Stuart. Sir, Attending my last annual meeting of Shell as a director, I was interested to note that almost half of the 20 or so questions asked came from individuals from […]

Irish Times: Statement: Shell E&P Ireland Limited

Irish Times: Statement: Shell E&P Ireland Limited Thursday Jun 30, 2005 “While the developments are most unfortunate, Shell E & P Ireland Limited has undertaken numerous efforts to meet with and reach agreement with this small number of landowners for access arrangements, however, the landowners in question have been unwilling to meet with us. “The […]

Business World: Five Mayo men jailed over Shell pipeline

Business World: Five Mayo men jailed over Shell pipeline Thursday, June 30 (BizWorld) Five local residents from north Mayo have been jailed by the High Court for obstructing the construction of a gas pipeline in the area. The men were judged to have breached court orders barring them from impeding the construction of the pipeline […]

Irish Independent: Shell-shocked five jailed for obstructing new gas pipeline

Irish Independent: Shell-shocked five jailed for obstructing new gas pipeline “FIVE men were jailed indefinitely yesterday…” Thursday Jun 30, 2005 FIVE men were jailed indefinitely yesterday when they refused to stop breaching a court order restraining the obstruction of works for construction of the Corrib gas pipeline through some of their lands at Rossport, Co […]

No Criminal Charges for Shell over Oil Reserves

The Scotsman: No Criminal Charges for Shell over Oil Reserves “The prosecutor also cited the fine by the SEC for violations of reporting, record-keeping and anti-trust rules.”: “Any further penalties “would likely have a severe and unintended disproportionate economic impact upon thousands of innocent Shell employees,” Mr Kelley said.” Thursday 30 June 2005 By David […]

Shell Won’t Face Criminal Charges In Reserves Probe

THE WALL STREET JOURNAL: Shell Won’t Face Criminal Charges In Reserves Probe Thursday 30 June 2005 By KARA SCANNELL Staff Reporter of THE WALL STREET JOURNAL June 30, 2005; Page B2 Federal prosecutors said they won’t criminally charge Royal Dutch/Shell Group in a probe of its overstatement of energy reserves, citing the oil titan’s cooperation. […]

THE NEW YORK TIMES: U.S. Won’t Prosecute Shell Over Reserves

THE NEW YORK TIMES: U.S. Won’t Prosecute Shell Over Reserves Thursday 30 June 2005 By BLOOMBERG NEWS Published: June 30, 2005 The Royal Dutch/Shell Group, Europe’s second-largest oil company, will not be prosecuted for overstating its oil and gas reserves, a United States attorney in New York said yesterday. The Royal Dutch Petroleum Company and […]

Royal Dutch/Shell will not be prosecuted for overstatement

Financial Times: Royal Dutch/Shell will not be prosecuted for overstatement “Shell self-reported the material mis-statements of its proved oil and gas reserves to the public,” US Attorney David Kelley said, in explaining the decision to go easy on the company.: Thursday 30 June 2005 By Sheila McNulty in Houston Royal Dutch/Shell will not be prosecuted […]

Shell evades US prosecution for overstatement

Financial Times: Shell evades US prosecution for overstatement Thursday 30 June 2005 By Sheila McNulty in Houston The US government said on Wednesday that it would not prosecute Royal Dutch/Shell for overstating its proved oil and gas reserves for 2002 and prior years by about 23 per cent. The decision eases fears that Shell, which […]

Ireland Online: Taoiseach admits Shell protestors jailing ‘regrettable’

Ireland Online: Taoiseach admits Shell protestors jailing ‘regrettable’ Thursday 30 June 2005 The jailing of five Co Mayo men for blocking work on a Shell gas pipeline is regrettable, but the court’s decision must be respected, Taoiseach Bertie Ahern said today. Mr Ahern added an independent report on the safety of the project, commissioned by […]

BBC NEWS: Shell escapes charges on reserves

BBC NEWS: Shell escapes charges on reserves “US prosecutors have decided not to take Royal Dutch Shell to court for overstating its oil reserves by 4.47 billion barrels, the company has said.” Thursday 30 June 2005 US prosecutors have decided not to take Royal Dutch Shell to court for overstating its oil reserves by 4.47 […]

ROYAL DUTCH SHELL NEWS HEADLINES JUNE 2005

ROYAL DUTCH SHELL PLC NEWS HEADLINES JUNE 2005 Wednesday, 1 June 2005 The Independent (UK): Shell opens talks about a return to Nigeria’s troubled Ogoni region: “More than 12 years since it fled the Nigerian region of Ogoni in fear at the growing violence towards its operations from the local population, oil giant Shell has […]

The Guardian: Shell escapes charges over reserves reporting

The Guardian (UK): Shell escapes charges over reserves reporting Mark Tran Thursday June 30, 2005 Shell escaped criminal charges in the US today after a federal prosecutor decided that bringing the Anglo-Dutch oil giant to court over last year’s reserves scandal would not be in the public interest. US lawyer David Kelley said yesterday that […]

The passing of national champions

Financial Times: The passing of national champions “Senior figures from the company even had to approach Queen Beatrix of the Netherlands, to gain her royal assent for the move. It is believed to be the first time the Dutch royal monicker has been applied to a UK-listed company.” Wednesday 29 June 2005 By Thomas Catan, […]

Global village

Financial Times: Global village “A Shell annual meeting is a snapshot of globalisation and of the reach of a multinational company.” By Clay Harris Published: June 29 2005 A Shell annual meeting is a snapshot of globalisation and of the reach of a multinational company. From Sakhalin and São Paulo, Nigeria and the Philippines, Durban […]

Royal birth

Financial Times: Observer: Royal birth “It was not only a newborn Royal Dutch Shell that those in The Hague welcomed yesterday.”: Wednesday 29 June 2005 Published: June 29 2005 It was not only a newborn Royal Dutch Shell that those in The Hague welcomed yesterday. Down the road from the theatre where Royal Dutch shareholders […]

It doesn’t add up

Financial Times: Observer: It doesn’t add up “Even the commemorative mug given to shareholders as they left the meeting was a collector’s item of inaccuracy. Shell Transport and Trading’s lifetime was given as 1907-2005. In fact, it was born in 1897.” Wednesday 29 June 2005 Published: June 29 2005 Shell demonstrated an admirable candour by […]

The Guardian (UK): Rowdy meeting ends Shell’s 100-year split

The Guardian (UK): Rowdy meeting ends Shell’s 100-year split Terry Macalister Wednesday June 29, 2005 Shell shareholders voted by over 97% yesterday to end 100 years of dual company structure by merging the British and Dutch arms of the oil group into a £125bn business. But the Shell board suffered a turbulent time at the […]

The Guardian (UK): Good and bad news in shares switch

The Guardian (UK): Good and bad news in shares switch “From July 20, the new Royal Dutch Shell plc will start to trade…” Terry Macalister Wednesday June 29, 2005 The massive shake-up agreed by Shell yesterday will bring significant changes for individual shareholders, not least the possibility of a further rise in the value of […]

Watchdog fines Citigroup £14m

The Guardian (UK): Watchdog fines Citigroup £14m “This is the second largest financial punishment handed out by the City regulator after oil company Shell was fined £17m last year.”: Jill Treanor Wednesday June 29, 2005 Citigroup has been ordered to pay almost £14m to the Financial Services Authority as the penalty for a controversial trade […]

Lloyds List: Unified Shell group gives greater growth potential

Lloyds List: Unified Shell group gives greater growth potential “Royal Dutch Shell is set to be reborn on July 20″ Wednesday 29 June 2005 Shareholders of Shell and Royal Dutch Petroleum approve joint structure, writes Martyn Wingrove SHAREHOLDERS of Shell and Royal Dutch Petroleum approved plans to unify the corporate structure of the group, ending […]

At a stroke, Shell opens new chapter

Financial Times: At a stroke, Shell opens new chapter “The oblique stroke will not disappear from Royal Dutch/Shell until next month, when the High Court is due to approve the scheme of arrangement that unifies the two groups.” Wednesday 29 June 2005 By Clay Harris Published: June 29 2005 Shareholders in Shell Transport and Trading […]

Shell to consider acquisitions under $9bn

Financial Times: Shell to consider acquisitions under $9bn Wednesday 29 June 2005 By James Boxell and Thomas Catan in London and Ian Bickerton in Scheveningen Royal Dutch/Shell is understood to be considering acquisitions worth up to $9bn (£4.9bn) in the immediate aftermath of the historic unification of its Dutch and British holding companies. Shareholders brought […]

Renewed takeover talk fuels big rises at Shell and BG

THE TIMES (UK): Renewed takeover talk fuels big rises at Shell and BG “…the recent surge in Shell also rekindled talk that the company may use the strength of its paper to mount a takeover of BG, its oft-mooted target.”: Wednesday June 29, 2005 TAKEOVER favourite BG Group surged to a record high on the […]

Shell ends era of dual ownership

THE TIMES (UK): Shell ends era of dual ownership Wednesday June 29, 2005 By Peter Klinger ROYAL DUTCH SHELL shareholders voted overwhelmingly yesterday in favour of plans to scrap the oil and gas giant’s dual-ownership structure, closing a century-old chapter in British corporate history. The restructuring, supported by massive majorities at shareholder meetings in London […]

Shell will grow from familiar roots

THE TIMES (UK): Shell will grow from familiar roots “After the merger, Shell’s seat of power moves to The Hague. This should not be surprising, given that the mistakes of the past decade were mainly the fault of deluded or inadequate British executives…” Wednesday 29 June 2005 By Carl Mortished LIKE KIDS on a see-saw, […]

Shell mugs up on its history and pours oil on troubled waters: Shell merger approved amid fury over tax bill

Daily Telegraph (UK): Shell mugs up on its history and pours oil on troubled waters: Shell merger approved amid fury over tax bill “No wonder private shareholders are cross. They have been treated shabbily, particularly since they are long-term investors who stood by the company during its crisis when it lost one in four of […]

Daily Telegraph: Shell merger approved amid fury over tax bill

Daily Telegraph: Shell merger approved amid fury over tax bill Wednesday 29 June 2005 By Christopher Hope, Business Correspondent (Filed: 29/06/2005) Shell yesterday came under fire from British shareholders who are nursing a £77m tax bill as a result of the merger of its British and Dutch companies into a £100billion oil and gas giant. […]

Daily Telegraph: Shell’s unification puts funds firmly in the ‘buy’ camp

Daily Telegraph (UK): Shell’s unification puts funds firmly in the ‘buy’ camp Wednesday 29 June 2005 Market report By Caroline Muspratt (Filed: 29/06/2005) The decision by Anglo-Dutch oil giant Shell to unify its dual structure sent waves through the stock market as traders said funds would have to buy into the stock to adjust the […]

Daily Telegraph (UK): Shell’s London dungeon

Daily Telegraph (UK): Shell’s London dungeon Wednesday 29 June 2005 City diary Edited by Sophie Brodie (Filed: 29/06/2005) Shell’s three and a half hour long session (one agm, one court meeting and an egm), which consigned its Transport and Trading arm to history, seemed too much for Lord Oxburgh. At one point, he introduced non-exec […]

Daily Mail: United Shell aiming for a brighter future

Daily Mail (UK): United Shell aiming for a brighter future “But it is also due to hopes that Shell, under the leadership of Dutchman Jeroen van der Veer, has transformed itself and that its new ‘one board, one chief executive’ structure will lift its performance and banish last year’s reserves scandal to a painful memory.” […]

Ireland Online: Shell seeking to jail five anti-pipeline protestors in Mayo

Ireland Online: Shell seeking to jail five anti-pipeline protestors in Mayo “The global oil firm Shell is due to take High Court action today in an effort to have five people jailed for protesting against a controversial pipeline in Co Mayo.”: Wednesday 29 June 2005 29/06/2005 – 08:02:56 The global oil firm Shell is due […]

Shell makes historic leap to unified structure, but will it do any good? It’s a tough call

The Independent (UK): Jeremy Warner’s Outlook: Shell makes historic leap to unified structure, but will it do any good? It’s a tough call Wednesday 29 June 2005 Shareholders duly voted through proposals to get rid of Shell’s dual domicile and capital structure yesterday, but if you can fully get your head around the supposedly simpler […]

Unified Royal Dutch Shell steers clear of mega-mergers

The Independent (UK): Unified Royal Dutch Shell steers clear of mega-mergers By Michael Harrison, Business Editor 29 June 2005 Shell appeared to rule out any major takeovers at current oil prices yesterday as the company’s shareholders voted to end 100 years of tradition by unifying its UK and Dutch halves. Speaking after shareholders in London […]

FINAL SHELL TRANSPORT AGM started and ended to refrain of Bing Crosby crooning: You can be sure of Shell

ARTICLE FROM OUR 2005 SHELL NEWS ARCHIVE (MICHAEL HOLLIDAY VERSION OF THE SHELL SONG) ShellNews.net: The Shell Transport FINAL AGM resulting from the reserves scandal, started and ended to the refrain of Bing Crosby crooning: “You can be sure of Shell”: Wednesday 29 June 2005 By John Donovan Editor, ShellNews.net Shell’s marathon AGM was held […]

Stars aligning for Royal Dutch Shell

MarketWatch.com: Stars aligning for Royal Dutch Shell Tuesday 28 June 2005 Rising crude price, index reweighting giving a boost By Steve Goldstein, MarketWatch LONDON (MarketWatch) — For a company recovering from a scandal surrounding its overstatement of proven oil reserves, the stars could hardly be aligning better for Royal Dutch Shell. Shell (RD: news, chart, […]

Financial Times: Much agonising over what to do

Financial Times: Much agonising over what to do Tuesday 28 June 2005 The shareholder base of Royal Dutch and Shell Transport and Trading is so varied that investors inevitably disagree on whether the restructuring marks the end or the beginning of reform for the group, writes Sundeep Tucker. At the height of the scandal last […]

Shell prepares for the next merger round

Financial Times: Shell prepares for the next merger round “The reserves debacle had seriously dented shareholder confidence” Tuesday 28 June 2005 By Ian Bickerton, James Boxell, Thomas Catan and Henry Tricks On the top floor of London’s towering Shell Centre, a cavernous boardroom looms over the Houses of Parliament, filled with high-backed chairs and rows […]

Shell merger poses new risk

Financial Times: Shell merger poses new risk Tuesday 28 June 2005 By Paul Betts Royal Dutch/Shell is expected to approve on Tuesday a corporate revolution by merging its two separately quoted arms into a single company headquartered in the Netherlands with its primary listing in London. This is likely to double the Anglo-Dutch major’s weighting […]