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Royal Dutch/Shell to merge

From our October 2004 Shell News Archive

Royal Dutch/Shell to merge

Netherlands HQ ‘not a victory for the Dutch’: “Yet Shell’s governance scheme wasn’t without a few surprises, chiefly that the headquarters will be based in The Hague, Netherlands along with two of the group’s three main businesses.”

By Emily Church,

Oct. 28, 2004

LONDON (CBS.MW) — Oil major Royal Dutch Shell on Wednesday said it plans to merge its Dutch and U.K. companies, breaking close to a hundred year tradition as a dual Anglo-Dutch group.

The move was expected and follows shareholder outrage after a shock downgrade of proven oil reserves in January. Yet Shell’s governance scheme wasn’t without a few surprises, chiefly that the headquarters will be based in The Hague, Netherlands along with two of the group’s three main businesses. read more

ROYAL DUTCH SHELL ROBBERS AND RASCALS

FROM OUR SEPT 2005 SHELL NEWS ARCHIVE

ROYAL DUTCH SHELL ROBBERS AND RASCALS

“…Shell shareholders have to foot the bill for lawyers fees run up in the course of defending fat cat crooks, such as Sir Phillip Watts, the disgraced former Group Chairman of the Royal Dutch Shell Group. Sir Phillip ended up with a $18 million USD pension pot AND with all his ongoing legal fees being paid by Shell shareholders. This was after he had LIED AND COVERED UP THE TRUTH ABOUT SHELL’S RESERVES, AND IN THE PROCESS, DESTROYED SHELL’S REPUTATION”

By Alfred Donovan: Monday 12 Sept 2005

The press is having a field day in devising colourful headlines about the scandal ridden Royal Dutch Shell Group. An article in “The Sunday Times” yesterday had a story under the headline: “Shell move robs UK investors”. It reported on the horrendous tax implications for UK Royal Dutch shareholders resulting from the recent Royal Dutch/Shell unification and the dubious way in which Shell has dealt with the controversy thus far.

Yesterdays “Independent on Sunday” used the term “Clever Rascals” about Shell in a headline relating to the Sakhalin project in Russia and the potential ramifications in respect of the critically endangered western grey whale. For the record, the Encarta Online Dictionary definition of a “rascal” is: “dishonest person: somebody, especially a man, who is dishonest or otherwise unethical”. read more

Shell still wrestling with its moment of shame

FROM OUR AUGUST 2004 SHELL NEWS ARCHIVE

The Independent: Shell still wrestling with its moment of shame

“Shell is bluntly accused of making false and misleading statements about its oil reserves over a five-year period, of doing so despite internal warnings that the statements were false”

JEREMY WARNER

United Kingdom; Aug 25, 2004

SHELL CAN only hope that yesterday’s parallel statements from the Financial Services Authority and the US Securities and Exchange Commission on the reserving debacle that threatened to engulf the company earlier this year finally closes the chapter on one of the darkest and most disreputable periods in its history.

The statements themselves make humiliating reading for a company that invests so heavily in public trust. Where once you could be sure of Shell, there seems very little you can be sure of now. Shell is bluntly accused of making false and misleading statements about its oil reserves over a five-year period, of doing so despite internal warnings that the statements were false, and then of blithely failing to correct the misleading impression given. read more

An oil giant’s road from Rajasthan to ruin

 FROM OUR AUGUST 2004 SHELL NEWS ARCHIVE…

Michael Harrison’s Outlook: An oil giant’s road from Rajasthan to ruin

“Shell, by contrast, has endured the most humiliating, torrid and damaging period in its 100-year history. It is hard to think of a more spectacular fall from grace or a more abject example of management failure.”: “The deeper it dug itself into this hole, the more Shell was forced to lie” 

Fortunes; Failure; Scramble

14 August 2004

It is a long way from the arid deserts of Rajasthan to the Shell Centre on London’s South Bank. But two events this week provide a link.

One was the announcement by Cairn Energy that it had made yet another significant oil discovery in a region of India hitherto better known for its sumptuous pink palaces and backpacking tourists. The other was the disclosure that Shell’s former head of exploration and production, Walter van de Vijver, is to receive a £2.5m pay-off after being sacked for his part in the company’s reserves scandal. read more

Shell loses Royal Dutch Shell PLC Domain Name Battle

FROM OUR AUGUST 2005 SHELL NEWS ARCHIVE…

ShellNews.net: Shell loses Royal Dutch Shell PLC Domain Name Battle

As a result of their gross incompetence this *scandal ridden multinational finds itself in a highly embarrassing position. It has publicly laid claim to the domain name and will consequently suffer a considerable loss of face with its shareholders, the public and its competitors, as a result of the unanimous verdict.

Friday 12 August 2005: 01.35am ET

Unanimous verdict against Shell in Royal Dutch Shell PLC Domain Name proceedings

By John Donovan

A three person administrative panel appointed under the auspices of the World Intellectual Property Organisation has given a unanimous decision in favour of ShellNews.net website owner, Alfred Donovan, in respect of three Shell related domain names, including www.royaldutchshellplc.com

The WIPO decision document: http://arbiter.wipo.int/domains/decisions/html/2005/d2005-0538.html read more

Shell News Archive Saturday 17 December 2005

Shell News Archive Saturday 17 December 2005

 
The Scotsman: Shell in North Sea cuts after tax hike: “ENERGY giant Shell has slashed investment in its future North Sea drilling programmes by a third – less than two weeks after Chancellor Gordon Brown levied his controversial tax hike on fuel production.”: Saturday 17 December 2005: READ

 

Gulf Times: Shell will settle rest of buyout: The proposed buyout price of 52.21 euros a share, which Royal Dutch Petroleum shareholders approved at an extraordinary shareholders meeting in The Hague yesterday, is still subject to arbitration by the Court of Appeals in Amsterdam sometime next year, Shell said in a statement.”: “The court is expected to rule on the case later in 2006.”: Published: Saturday, 17 December, 2005, 09:18 AM Doha Time: READ read more

Shell News Archive Friday 16 December 2005

Shell News Archive Friday 16 December 2005

Friends of the Earth: Shell accused of contempt of court over continued illegal gas flaring: “The ruling recognizes that gas flaring is a serious human rights violation”; Friday December 16, 2005: READ

 

Green Consumer Guide: Rare whales face oil project threat: “It is a scandal that UK taxpayers’ money is being earmarked for a scheme that will lead to a massive increase in climate changing gases and which could push the Western Gray Whale into extinction. The EBRD should completely review its funding policies. Public money should be spent on projects that will protect the environment – not ones that destroy it.”: Friday 16 December 2005: READ read more

Shell News Archive Monday 12 December 2005

Shell News Archive Monday 12 December 2005

REUTERS: Hedge fund challenges Royal Dutch Shell in court: “The merger was aimed at restoring confidence in Shell after a damaging reserve-overbooking scandal last year which was partly blamed on the group’s complicated dual management and ownership.”: “Dutch corporate law experts said if the court ruled in favour of Trafalgar, Shell might be forced to abandon the planned internal merger and go for a Dutch statutory squeeze out to obtain the remaining minority shares in Royal Dutch.”: Mon Dec 12, 2005: READ read more

Shell News Archive Sunday 13 November 2005

Shell News Archive Sunday 13 November 2005

Sunday Business Post (Ireland): Cassells meets Shell and Mayo protesters to seek mediation: Shell mediator Peter Cassells held his first informal meetings with Shell management and action group Shell to Sea last week, The Sunday Business Post has learned.”: Cassells travelled to Mayo last Tuesday evening to meet Shell management and the five local men who spent 90 days in prison for refusing to undertake not to obstruct the Shell pipeline.”: Sunday 13 November 2005: READ

Sunday Business Post (Ireland): Shell strike could hit oil supply: “More than a quarter of Ireland’s total oil supply could be affected by a planned strike at Irish Shell next week, The Sunday Business Post has learned.”: Sunday 13 November 2005: READ read more

ROYAL DUTCH SHELL NEWS SATURDAY 5 NOVEMBER 2005

ROYAL DUTCH SHELL NEWS SATURDAY 5 NOVEMBER 2005

Daily Telegraph: Resistance pays off for Shell rebels: “Rebel Shell shareholders who refused to accept the terms of the the oil company’s restructuring, because it left them with big tax bills, look to have been rewarded for their resistance.”: “More than 1,000 British shareholders who accepted the terms are now considering suing Shell to claw back the money to pay the tax bill.”: Saturday 5 November 2005: READ

BBC Monitoring Service – UK: Amnesty International blames violence in troubled Nigerian region on oil firms: “Amnesty International has indicted the Shell Petroleum Development Company of Nigeria and Chevron Nigeria Limited for continued outbreak of violence in oil-rich Niger/Delta area.”: Posted Saturday 5 November 2005: READ read more

Edelman, Burson land global deals with unified Shell

PRWeek: Edelman, Burson land global deals with unified Shell

“ Burson, meanwhile, is to promote the new corporate entity – created earlier this year from the merger of Shell Transport & Trading and Royal Dutch Petroleum – to shareholders, media, NGOs, and government agencies worldwide.”

Monday 3 October 2005

Ian Hall 3 Oct 2005

LONDON: Edelman and Burson-Marsteller have emerged triumphant in two hotly contested agency competitions. Each firm has secured a major piece of global business for the newly unified oil and gas group, Royal Dutch Shell.

Edelman will promote Shell’s retail business across up to 17 markets, pushing everything from branded products to its sponsorships in areas such as motor racing.

The agency’s London office will spearhead work on the account, bringing in annual fees understood to be worth more than $3 million. read more

Fidelity shows Shell how giants can care for small investors

Daily Telegraph: Fidelity shows Shell how giants can care for small investors

“Any complacency about rising standards in the City would, however, be misplaced. Shell’s half-hearted climbdown this week demonstrates that many boardroom fat cats continue to regard individual shareholders with disdain.”

(Filed: 24/09/2005)

By Ian Cowie, Personal Finance Editor

Small investors are often treated shabbily by big institutions but, as our award-winning consumer champion Jessica Gorst-Williams observes, “sometimes the power of the press can help.” Her painstaking work reminds us that there is more to journalism than persecuting drug-addled pop stars and their model girlfriends.

Any complacency about rising standards in the City would, however, be misplaced. Shell’s half-hearted climbdown this week demonstrates that many boardroom fat cats continue to regard individual shareholders with disdain. read more

Shell finally does the decent thing

Daily Telegraph: Shell finally does the decent thing

“Shell performed an embarrassing U-turn this week and offered new tax-free merger terms to British investors in Royal Dutch Petroleum who were refusing to agree to the unification with Shell Transport & Trading. However, Shell is risking the wrath of British shareholders in Royal Dutch who accepted the terms of the deal”: (Filed: 24/09/2005)

The petroleum giant finally does the decent thing over punitive merger terms, reports Christopher Hope

Shell performed an embarrassing U-turn this week and offered new tax-free merger terms to British investors in Royal Dutch Petroleum who were refusing to agree to the unification with Shell Transport & Trading.

However, Shell is risking the wrath of British shareholders in Royal Dutch who accepted the terms of the deal and have been left with a multi-million pound tax bill. Shell said it believed it was not “appropriate” to compensate them. read more

Efforts to boost crude output hit by soaring costs

The Guardian (UK): Efforts to boost crude output hit by soaring costs

“The situation is particularly acute for Shell, whose 2004 annus horribilis of reserve downgrades has left it under extra pressure to rebuild its asset base quickly.”

Thursday September 22, 2005

Shortages of equipment and skilled staff have added to years of underinvestment

Terry Macalister

A severe shortage of rigs, vessels and people threatens to drive up further the price of oil and is making it harder for producers to secure the future supplies needed to meet soaring energy demand.

Costs across the industry have risen sharply as oil companies compete with each other to grab every available piece of equipment to keep future drilling programmes on track. Rig hire rates have more than trebled. read more

Royal Dutch Shell look to complete unification of UK and Dutch arms

ABC Money.co.uk: Royal Dutch Shell look to complete unification of UK and Dutch arms

“Following the reserves overbooking scandal last year, Royal Dutch Shell had opted to unify its UK and Dutch arms in a bid to restore confidence in the company.”

Thursday 22 Sept 2005

LONDON – Oil giant Royal Dutch Shell has announced that it plans to by out the remaining shares that it does not already own in its Royal Dutch arm thereby taking the final steps towards the unification of its UK and Dutch arms in July.

Currently, Royal Dutch Shell holds 98.5 percent of the erstwhile Royal Dutch. After its merger with Britain’s Shell Transport and Trading in July, the firm said yesterday that the remaining shareholders have the option of either taking cash or equivalent new shares of the merged entity. read more

Shelling out at last

The Times: Shelling out at last

“SHELL’S chief executive, Jeroen van der Veer, should be after the head of whoever was responsible for making him look mean and insensitive when, it now transpires, this could have been avoided.”

Wednesday 21 September 2005

SHELL’S chief executive, Jeroen van der Veer, should be after the head of whoever was responsible for making him look mean and insensitive when, it now transpires, this could have been avoided.

For months Shell contended that it could do nothing to help UK investors in Royal Dutch who were to be saddled with extra tax bills because of the group’s restructuring.

Now, after the majority had accepted their unhappy fate, a remedy has been found. This-is good news for the few who held out, but not good enough for a business that should have its share of clever accountants. read more