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Posts from ‘August, 2005’

Storm over the oil industry

Financial Times: Storm over the oil industry In one company, Shell, the recruitment problems go all the way to the top: analysts think that Europe’s second biggest energy group – which had a reputation as a training ground for the industry’s brightest – lacks qualified candidates eventually to fill top rank posts such as chief […]

U.S. District Judge John Bissell approved a $90 million settlement for Shell employees

New Jersey Law Journal: U.S. “District Judge John Bissell in Newark, N.J., approved a $90 million settlement for current and former employees of Royal Dutch Shell, who had alleged that Shell violated its fiduciary duty by misstating oil reserve totals, causing its stock to nosedive. The settlement, in “In re Royal Dutch/Shell Transport ERISA Litigation, […]

Pricing pressure builds as oil majors count the cost of Katrina

Financial Times: Pricing pressure builds as oil majors count the cost of Katrina “The Mars platform, one of the Gulf’s biggest producers of oil and gas, has sustained some damage, Royal Dutch Shell, the operator, said. But not only production wells have been affected. Exploration rigs, of which there are almost no spares available worldwide […]

Shell U.S. Capline Oil Pipeline Shut After Hurricane

BLOOMBERG: Shell U.S. Capline Oil Pipeline Shut After Hurricane “The Capline pipeline transports up to 1.2 million barrels a day of crude oil from the Gulf of Mexico and imported from overseas. It runs more than 650 miles (1,040 kilometers) from St, James, Louisiana to Patoka, Illinois, according to Shell.” Wednesday 31 August 2005 Aug. […]

Tougher teeth needed

Financial Times: Tougher teeth needed “Why should Royal Dutch/Shell have been hit for £17m for market abuse while the largest fine for mis-selling was a mere £1.9m handed out to Lloyds TSB for the precipice bonds affair?” Wednesday 31 August 2005 By Martin Dickson Published: August 31 2005 The Financial Services Authority barks a lot […]

Rossport Five could face jail until October

The Mayo News Online (Ireland): Rossport Five could face jail until October “The legal teams are talking, and are in continual contact, but there is little point calling for dialogue when one party are being extremist and are not going to give anything. Shell will not vacate the injunction because they wish to have recourse […]

Shell settles Class Action Lawsuit and undertakes ethics makeover

Royal Dutch Shell settles Class Action Lawsuit and undertakes ethics makeover Wednesday 31 August 2005: 20.00 ET By John Donovan Shell today announced that a settlement has been reached with plaintiffs in a shareholder derivative actions arising out of Shell’s 2004 reserves recategorisation – the Shell reserves scandal. The action alleged that named individual defendants […]

ROYAL DUTCH SHELL NEWS HEADLINES AUGUST 2005

ROYAL DUTCH SHELL PLC NEWS HEADLINES AUGUST 2005 ShellNews.net: Royal Dutch Shell settles another US Class Action Lawsuit and undertakes ethics makeover: Wednesday 31 August 2005: 20.00 ET: READ The Mayo News Online (Ireland: Rossport Five could face jail until October: “The legal teams are talking, and are in continual contact, but there is little […]

Shell Causes Earthquakes in the Netherlands

FROM OUR AUGUST 2005 SHELL NEWS ARCHIVE BLOOMBERG: Shell Causes Earthquakes in the Netherlands “Northern Netherlands Trembles as Gas Extraction Triggers Quakes”: The entire area is sinking… Posted 30 August 2005 Northern Netherlands Trembles as Gas Extraction Triggers Quakes Aug. 29 (Bloomberg) — Arie de Langen says he never thought he’d have to worry about earthquakes […]

MLNG signs gas deals with 3 firms

News Straits Times (Malaysia): MLNG signs gas deals with 3 firms “At the signing, Petronas was represented by its vice president of exploration and production business Abdullah Karim… Sarawak Shell by Shell Malaysia chairman Datuk Jonathan Chadwick” Tuesday 30 August 2005 MALAYSIA Liquefied Natural Gas Sdn Bhd (MLNG), the owner and operator of the country’s […]

Reuters: Shell says Mars platform damaged after Katrina

Reuters: Shell says Mars platform damaged after Katrina Tuesday 30 August 2005 Tue Aug 30, 2005 10:25 AM BST LONDON (Reuters) – Royal Dutch Shell said an aerial inspection of its Mars platform in the Gulf of Mexico indicated some damage to its upper deck following the passing of Hurricane Katrina. “A fixed-wing reconnaissance flight […]

SOLAR SHELL ENTERS INDONESIAN MARKET FOR SOLAR ENERGY

Asia Pulse: SOLAR SHELL ENTERS INDONESIAN MARKET FOR SOLAR ENERGY TUESDAY Aug 30, 2005 JAKARTA, Aug 30 Asia Pulse – Solar Shell has sounded out the market of solar energy in Indonesia by opening its marketing office in Jakarta, chief of Indonesia Shell group Bob Moran said in a press release here on Monday. “I […]

Irish Times: Jailed Mayo men accuse Shell of ‘vindictiveness’

Irish Times: Jailed Mayo men accuse Shell of ‘vindictiveness’ “In turning down a request from Mayo County Council to with-draw the restraining injunction against the men, Shell said such a move would undermine the entire legal basis for the onshore pipeline. A Shell spokesman said yesterday that setting aside the injunction was not a realistic […]

Another Storm Casualty: Oil Prices

The New York Times: Another Storm Casualty: Oil Prices “Shell, the company with the largest operations in the Gulf of Mexico, also said yesterday that it would dispatch an aircraft to review the status of its assets in the area.” By JAD MOUAWAD and SIMON ROMERO Published: August 30, 2005 The region that produces and […]