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ROYAL DUTCH SHELL GROUP: The Shell Report 2003

ROYAL DUTCH SHELL GROUP: The Shell Report 2003

Published 10/06/2004

Posted 24 June 04

The Royal Dutch/Shell Group of Companies (Shell) published its seventh Shell Report today, following the publication of the Annual Reports and Accounts of Royal Dutch Petroleum Company and the “Shell” Transport and Trading Company, p.l.c. The Shell Report describes Shell’s financial, environmental and social performance in 2003.

“Our belief in the need to live by our business principles and contribute to sustainable development to deliver business value for our shareholders has been strengthened. We remain committed to being transparent and open about our performance, the failures as well as successes, which remain the Shell Report’s main goal,” said Jeroen van der Veer, Chairman of the Committee of Managing Directors of the Royal Dutch/Shell Group of Companies.

The report continues to explore the theme of ‘Meeting the Energy Challenge’ with a focus in 2003 on how to make transport more sustainable.

Mr van der Veer added: “Our biggest contribution to sustainable development comes from helping provide the energy the world needs to develop, which by 2050 could be two to three times more than today, in cleaner and more socially responsible ways.”

“We are working with partners on a wide range of options to tackle the challenge of making transport more sustainable.”

Highlights include:

*Shell sold premium fuels that improve engine performance and reduce emissions in more than 50 countries.

*Shell carried out road trials of Gas to Liquids Transport Fuel in three major cities.

*Shell is the world’s biggest blender of transport biofuels. We have a stake in Iogen Energy, which is building a plant to test new technology to make bioethanol cheaper using waste wood and straw, with carbon emissions 90% lower than for conventional fuels.

*Shell opened the world’s first public hydrogen refuelling station (in Iceland) and three more elsewhere during the year.

*EMBARQ established in 2002 with a grant from the Shell Foundation, to encourage transport solutions in developing world cities integrating technology and planning. It is active in Shanghai, for example, to help plan a system of modern bus networks.

*Participation in the Sustainable Mobility Project run by the World Business Council for Sustainable Development.

*Participation in the Clean Fuels and Vehicles Partnership, led by the UN Environment Programme and the Clean Air Initiatives in Asia and Sub-Saharan Africa.

Additional results for 2003:

*Shell ranked top brand by motorists for the seventh year running.

*Shell ended continuous venting of gas in all oil operations.

*Shell is running Energise energy efficiency programmes at 12 sites.

*Shell paid $165 million in health, safety and environmental fines and settlements.

*Shell improved its overall safety performance.

*Shell invested an estimated $5.2 billion with local contractors and suppliers in developing countries and paid $11.3 billion in royalties and corporate taxes worldwide.

Important parts of the report are independently checked by Shell’s auditors to make sure it is reliable and complete. Panels of external experts and members of communities where we operate gave their independent views of how well Shell has performed.

The Shell Report is distributed to all shareholders and staff and translated into various languages.

The Annual Reports of the Royal Dutch Petroleum Company and the “Shell” Transport and Trading Company, p.l.c., and the Shell Report can be found at the following websites: www.shell.com/annualreports

and www.shell.com/shellreport

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