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JUNE 2004 ROYAL DUTCH SHELL NEWS

JUNE 2004 ROYAL DUTCH SHELL NEWS

Tuesday 1 June, 2004

Business Times Singapore: Ousted Shell chief gets generous pay and option deal Package worth 5.8m, excluding severance deal, says annual report

Daily Telegraph: Highest paid chief executives

The Wall Street Journal: Shell’s Ex-Chairman Got Pay Raise in 2003

The Guardian: Saudi siege fallout threatens oil prices

CNW Telbec (Communiqués de presse): Linda Cook, CEO Of Shell Canada To Receive 2004 ‘Yes She Can’ Award

Wednesday 2 June, 2004

The Boston Herald: Appeals court reinstates gas price-fixing lawsuit against Shell, ChevronTexaco: “SAN FRANCISCO – A federal appeals court on Tuesday reinstated a lawsuit accusing ChevronTexaco Corp. and Shell Oil Co. of operating a price-fixing conspiracy” (ShellNews.net) 2 June 04

DallasNews.com: ChevronTexaco, Shell face price fixing case

Local10.com: Tainted Gas Leads To Class-Action Suit: Federal Lawsuit Filed Against Shell Oil

The Wall Street Journal: Shell Expects New Sakhalin LNG Sales To Japan By Year End

The Wall Street Journal: US Court Reinstates Shell, ChevronTexaco Price Fixing Suit

The Wall Street Journal: Florida Drivers Sue Shell Over High-sulfur Gasoline

The Wall Street Journal: Rival Nigerian Militants Pledge Peace In Niger Delta

The Wall Street Journal: Shell Australia

The Guardian: Shaken expatriates rethink Saudi future

Los Angeles Times: Chevron, Shell to Face Antitrust Trial

Thursday 3 June, 2004

Palm Beach Post: Shell, Texaco pump again as bad gas replaced

Wichita Business Journal: Kansas joins in lawsuit against oil company

The Guardian: Q&A: Oil

Daily Telegraph: Transport doesn’t come much greener than that

The Wall Street Journal: East Timor Dispute Could Hurt Sunrise Gas Plan

Herald Sun News Au: Shell vows to stay on

Daily Telegraph: Oil majors reining in exploration says Expro

The Wall Street Journal: Senator Wyden Maintains Hold On FTC Nominee Over Gas Prices

Friday 4 June, 2004

The Boston Channel.com: Drivers Suing Shell, Texaco, Refinery Over Bad Gas

Geelonginfo.com: Dip in Shell profit

Toronto Star: Shell shells out for tainted gas: Canadians denied help for problem

Sun-Sentinel.com: Attorneys contest gas-gauge Shell ‘restrictions’

The Wall Street Journal: Labor Vows Calmer Waters In Timor Sea Talks

The Age.com.au: Woolworths under the pump

Saturday 5 June, 2004

Globe&Mail.com: Influence doesn’t require power, Shell CEO says

Financial Times: Shell sells Egyptian gas holding

TheAge.com.au: Shell to pay $75,000 over oil spills

The Independent: “Even those clowns at Shell”

The Wall Street Journal: Shell Sells Rosetta Concession Stake In Egypt To Kuwait Foreign Petroleum Exploration Company

The Guardian: Slow starters

BruneiDirect.Com: Special Children Get $14,000 Donation From Brunei Shell

Oil & Gas Journal: Shell, PPM Energy dedicate Colorado Green Wind Power project

Sunday 6 June, 2004 – D Day

The Observer: Whose eyes are on Cairn Energy?

The Observer: West looks to Russia for a crisis solution

Miami Herald Tribune: Station owners facing losses in sales

The Sunday Telegraph: Why liquified natural gas could spell an end to the Age of Oil

Mail on Sunday: Chairman Jeroen van der Veer in frame over Shell scandal – could lead to 20 years in jail

Monday 7 June, 2004

The Wall Street Journal: Woodside Picks Up Momentum As It Prepares to Tap New Fields

pandct.com: Shell and Kuwait Foreign Petroleum Exploration Company announce agreement on Rosetta concession

The Wall Street Journal: UPDATE: East Timor Seeks “Creative” Deal On Timor Gas

Forbes.com: Shell to Keep Oil & Gas Platform Closed

Tuesday 8 June, 2004

The Guardian: Quest for energy is race against time: “I could not believe that the oil companies would stoop to inflating their reserves. I was wrong”

The Independent: Fatter rewards for directors but thin returns for investors: “Sir Philip is now the subject of multiple investors’ lawsuits”.

The Independent: Company chiefs’ pay rises by 20%

Daily Telegraph: City comment: “the invisible man from Shell”

The Times: Need to Know: Global Business Briefing

The Wall Street Journal: Shell To Exit Brazil’s Fuel Distribution Market – Report

The Wall Street Journal: Norway Offers Licenses On Shelf In 18th Round

The Guardian: Break out the bicycles

The Miami Herald: Miami drivers sue Shell, refiner over high-sulfur gas: “will seek more than $100 million in damages from Shell”

Business-Standard.com: Shell to shift IT jobs to India, Malaysia

Wednesday 9 June, 2004

Financial Times: Deep well of troubles in Nigeria  

The Wall Street Journal: Miami Drivers Sue Shell, Refiner Over High-Sulfur Gas

nbc6.net: Another Class-Action Lawsuit Filed Against Shell Over Tainted Gas; “Another day, another lawsuit for Shell Oil”

Thursday 10 June, 2004

The Philippine Star: Police say Shell was real target

nbc6.net: “lawsuit seeks up to $100 million for up to one million drivers”.

ABS-CBNNEWS.com: Shell may miss profit target on soaring costs

FEATURE: SHELL WHISTLEBLOWER No 2: Shell Geologist/insider Dr John Huong, fires a broadside at Royal Dutch Shell

ThisIsLondon.co.uk: US humiliation for oil giant Shell

The Guardian: Calpers demands review at Shell

Los Angeles Times: CalPERS Puts Shell, Disney on Focus List

cnn.com: Royal Dutch/Shell on list for poor financial and corporate governance.

Daily Telegraph: Shell call

The Times: Merrill’s BP downgrade puts a brake on FTSE

CityWire.co.uk: Broker Roundup: Teathers upgrades Shell

The Wall Street Journal: Nigeria Oil Union Claims Strike Halts Oil Output

Bloomberg.com: Shell `Feeds’ Nigeria “violence”, May End Onshore Work

Reuters.co.uk: Shell says it unwittingly fed conflict in Nigeria

Friday 11 June, 2004

Financial Times: Violence ‘may force Shell to quit Nigeria’

The Scotsman: Shell Pledges Future to Conflict-Torn Nigeria

Financial Times: Good to be good

The Guardian: Shell ‘may have to leave Nigeria’

Daily Telegraph: Shell advised to retreat from Nigeria

Daily Telegraph: Memos expose Shell’s years of lying

The Times: Shell ‘may have to abandon Nigeria’

Daily Mail: Shell crisis over Nigeria violence

The Independent: Bribery and corruption put fresh dent in tarnished image of Shell

CNN.com: Shell admits blame in Nigeria: “Royal Dutch/Shell has taken responsibility for contributing to the fighting and corruption in oil-rich Nigeria”.

Local10.com: Gas Company Apologizes; Service Centers To Make Repairs

Saturday 12 June, 2004

Investors.com: $20 million Settlement Announced in Class Action with Shell

aljazeera.net: Shell rejects ‘quitting Nigeria’ rumours

Daily Telegraph: Wall Street Life: Take an oil price over $40 – then quadruple it

Daily Telegraph: The week that was: “Shell is in full damage limitation mode again”

The Guardian: Beyond the bottom line

The Times: Shell’s gas burn-off targets in doubt: “SHELL was last night facing a fresh assault from environmentalists”

The Times: BG’s oil asset sale faces new threat

Financial Times: Shell holds meeting with UK investors

BBC News: Shell admits fuelling corruption

The Scotsman: Shell admits it may have had role in violence

The Wall Street Journal: Kazakh Govt Aims For BG’s Stake In Kashagan

The Wall Street Journal: Halliburton Says SEC Probing Nigerian Venture

The New York Times: An Oil Enigma: Production Falls Even as Reserves Rise

Sunday 13 June, 2004

The Observer: Revealed: How Shell’s desperate thirst for oil is devastating Nigeria

The Observer: Can they be sure of Shell?

The Sunday Telegraph: Shell faces rough ride from investors

The Times-Picayune: A BAD CASE OF GAS: “tainted fuel has been reported in at least four other states and in Canada”.

Reuters: “Leaked” Report says Shell actions feed Nigeria violence: “corporate behaviour of Royal Dutch/Shell in Nigeria feeds a vicious cycle of violence and corruption”

Monday 14 June, 2004

Financial Times: Shell investors threaten to revolt

Financial Times: Investors ‘to embarrass’ Shell board

Financial Times: “Royal Dutch/Shell faces a ‘high intensity conflict’ in Nigeria’s Niger Delta as severe as those in Chechnya and Colombia”

The Wall Street Journal: Nigerian Troops Raid Oil Delta Village; 6 Killed

Winnipeg Sun: Balmoral to fete Shell CEO Cook

Solar Access.com: Shell Solar to bring electricity to more remote Chinese villages

Daily Mail: Shell aims to quell rebellion: “The National Association of Pension Funds… is preparing to publish its report into the scandal-hit oil giant this week”

Shanghai Daily news: Shanghai Mayor Han Zheng meets with Malcolm Brinded, Vice Chairman Royal Dutch/Shell Group

Tuesday 15 June, 2004

Radio Netherlands: Oil and Ethics

The Wall Street Journal: BP Defends Method Of Estimating Oil, Gas Reserves

Financial Times: Investors press Shell to name executives under review

Financial Times: Dialogue of the deaf

Financial Times: LEADER: Delta blues

Financial Times: The pension fund finger can point both ways

The Guardian: Shell tries to win friends as it owns up to mistakes

Daily Telegraph: Isis heads for showdown at Shell meeting

London Evening Standard: Speed up reform, Shell warned

Wednesday 16 June, 2004

AllAfrica.com: Shell’s Oily Troubles: “most Nigerians are not swayed by Shell’s new desperate public relations stunt”

Financial Times: Observer: Shell hole

Financial Times: Where to hold ’em

Daily Telegraph: There’s enough oil left to last for 40 years, says BP

The Times: Funds fail to question the wisdom of Shell’s rhubarb cola

The Guardian: Chop and change

The Wall Street Journal: US Post Office To Test Fuel Cell Vehicle

The Wall Street Journal: Shell To Invest $100M In Venezuela In 2004

Times-Picayune: Company can’t say which locations sold the tainted gasoline

BBC News: Shell review slammed over secrecy

The New York Times: In Mexico, Anger Over Gas Terminals

Corporate Governance NETwork!: Shell Governance Questioned

The Guardian: Big investors go public with Shell demands

London Evening Standard: US rebels warn Shell of challenge

LETTER PUBLISHED BY FT: Nothing less than fundamental governance changes will satisfy Shell Group shareholders

The Times: Shell under fire from US investors

Bloomberg.com:  Shell to Provide Details `Soon’ on Governance Review (Update1)

Daily Mail: Reserves row spotlight on oil giants

Daily Mail: Speed up reform, Shell warned: Shell gets a rocket

Thursday 17 June, 2004

The Times: Shell will respond to worries over transparency

The Times: Tough Shell needs to be prised open

Financial Times: Shell bows to investor demands

The Times: Need to Know: Global Business Briefing

Daily Telegraph: They’re trying to prise Shell open but its likely to simply clam up

Daily Telegraph: Investor pressure gets some answers from Shell

The Independent: Greater efficiency, not a new wonder fuel, is the answer to higher oil prices

The Guardian: Oil chief: my fears for planet: Shell boss’s ‘confession’ shocks industry

The Guardian: ‘I’m really very worried for the planet’: Ron Oxburgh is chipping away at the fossilised thinking that cost Shell its reputation.

The Guardian: Downstream do: “worry that Shell is in denial”

Bloomberg.com: Shell Considers Unifying Board to Improve Governance (Update1)

Reuters: Shell unveils corporate governance review plans

NUOS INT’L: Shell threatens the followers of Ken Saro-Wiwa with secret agents and subpoena

London Evening Standard: Shell forced to lift lid on shake-up

LETTER FROM BUCKINGHAM PALACE ON BEHALF HER MAJESTY QUEEN ELIZABETH II, 14 JUNE 2004

The Guardian: Shareholders prise Shell open

Washington Times: Shell to abandon priority shares

Scotsman.com: Shell considers unified board to win confidence

Bloomberg.com: Shell Oil Must Pay $153.6 Mln Award to Union Carbide (Update1)

NewRatings.com: Shell “sell”

CBS MarketWatch.com: Royal Dutch/Shell mulls single board: Gives details of review after shareholder pressure

Houston Chronicle: Royal Dutch, Shell look at full merger

The Times: Double Dutch: Once again, Shell has managed to strike negative publicity where it was thought that none could be found

Friday 18 June, 2004

Financial Times: How Shell changed its culture and lost its way

Financial Times: Planning strengths weakened by mistakes

Financial Times: Priority shares held Shell in an iron grip

Financial Times: Shell far too big a bite for predators

FT.com site: Lex: Royal Dutch/Shell

FT.com site: Hostility to oil giant abates

The Times: Shell ponders merger of its companies

The Guardian: Shell to scrap its takeover defences

Daily Telegraph: Shell plans to overhaul dual board structure

Daily Telegraph: Getting specific

The Independent: Shell hints at abolishing its dual board

Yahoo.com: Shell Delivers First Gas From Malaysia’s Serai Project

channelnewsasia.com: Shell confirms oil spill in south-eastern Nigeria state

Daily Express (Malaysia): Shell’s assurance on environmental care

Saturday 19 June, 2004

The Guardian: Are we ready for when the oil runs out?

The New York Times: Shell Weighs Modifying Dual Setup

allAfrica.com: Community Demands $750m Compensation From Shell

The Wall Street Journal: Shell Weighs End Of Dual Boards As Pressure Rises

Sunday 20 June, 2004

Sunday Telegraph: Shell coming to the end of going Dutch

Sunday Telegraph: Shell bosses ‘must remain liable for recent blunders’

The Observer: Shell chiefs face vote of confidence: US shareholder activist wants to punish directors

The Observer: Trial of two cities: London or the Hague?

The Observer: Top bosses see pension values soar

The Independent: Why so shy, Shell?

Monday 21 June, 2004

Financial Times: The insidious charms of Shell’s dual votes: But just one factor in the foul up

Los Angeles Times: Shell to Cut Summer Output at Bakersfield Refinery, Leaked Papers Say

Reuters.co.uk: Shell shareholders prepare to make AGM waves

Business Report: The corporate pressure of performance

Yahoo.com: Nippon Oil Starts Commercial Gas Production In Malaysia

The Wall Street Journal: Abu Dhabi Picks ExxonMobil As Partner In Zakum Field

TimesOnline: Investors set for Shell showdown

TimesOnLine: Shareholders force change on Shell

ThisIsMoney.com: Cairn Energy

Tuesday 22 June, 2004

USNewsWires.com: Regulators Given Internal Shell Documents: “provide incontrovertible evidence the company has once again misled California…”

The Times: The lost Arabic school for scandal: “the spy school”

Financial Times: A healthy new business is born

SARAWAK SHELL BERHAD/SABAH SHELL PETROLEUM COMPANY’S INTERNAL MANAGEMENT EXCHANGE LEAKED BY AN EMPLOYEE DISGUSTED WITH SHELL

Sacramento Bee: Reports of cutbacks in summertime gas false, Shell Oil says

Canada.com: Shell workers in Nigeria walk off job in ‘warning strike’ to avert job cuts

Wednesday 23 June, 2004

The Independent: Cairn director buys £624,000 of company shares

Daily Telegraph: It’s a space issue

The Times: SWISS BROKER UBS MOVES SHELL TRANSPORT FROM “BUY” TO “NEUTRAL”

The Wall Street Journal: THE YOUNG AND THE OLD:

Financial Times: SEC leans to voluntary code on oil reserves    

Friends of the Earth: Behind the Shine – the Real Impacts of Shell’s Work Around the World

The Scotsman: Oil Giant Accused of Environmental ‘Abuse’

BBC News: Polluting Nigeria

The Guardian: FoE says Shell fails own green pledge

TheAdvocate.com: Woman sues Shell Oil, refinery for damage caused by gasoline

SantaMariaTimes.com: Keeping gas prices up there: “state and federal agencies are looking into Shell’s reasons for closing the Bakersfield plant”

Itar-Tass.com: Anglo-Dutch oil giant Shell considers inviting Gazprom into Sakhalin- 2 project

Thursday 24 June, 2004

The Guardian: Flare-up over Shell’s ‘double standards’: “Shell… had exaggerated its social and environmental performance in the same way as it had overstated its oil and gas reserves”

The Guardian: Finding the right focus

Bloomberg.com: ABB’s Peter Voser to Be Shell Chief Financial Officer

jacksonville.bizjournals.com: Shell stations support fallen heroes fund

Daily Telegraph: Gazprom wooed

The Times: Need to Know

The Wall Street Journal: Shell Transport Names Peter Voser Finance Director

The Wall Street Journal: ABB’s Voser To Become CFO Of Royal Dutch/Shell: “Before his ABB assignment, he had a 20-year career with Shell”

SHELL PRESS STATEMENT: Announcement of appointment of new CFO

ROYAL DUTCH SHELL GROUP: The Shell Report 2003

BBC News: Shell appoints new finance chief: “a Shell veteran”

Financial Times: Shell appoints ABB executive as new CFO

ThisIsLondon: Friends of the Earth target Shell

The New York Times: Shell Appoints Voser to Finance Post

The Guardian: Shell appoints new finance director

CityWire.co.uk: Shell shines, Hanson humbled 

Friday 25 June, 2004

London Evening Standard: Shell ‘has lied for 10 years’

Reuters: Watchdog lawyer sues Shell over reserves

The Wall Street Journal: Eni Drops Bid For Shell ‘s Iberian Gas Stations – Source

The Wall Street Journal: GSPC May Buy LNG From Shell ‘s Project In W India-Official

Financial Times: Shell urged to bring investors into review

Financial Times: Voser returns to Shell to do the impossible

Financial Times: Coming home

Financial Times: Head-butts have a place in struggle for reform

Financial Times: Voser goes

The Guardian: Shell veteran returns to fold: “There’s already a firework attached to this dinosaur’s tail”

The Independent: Shell hires new finance director after reserves scandal

The Independent: Shell appointment

Daily Telegraph: Market welcomes return of Shell boss

The Times: Shell hires veteran as new chief of finance

London Evening Standard: SHAMED “Shell chairman Sir Philip Watts has secured a pay-off worth more than £1m in cash plus stock options potentially worth £6m more”

ABC.News.com: Shell Pays Former Chairman Philip Watts Nearly $2 Million in Lump Sum Severance Payment

BBC News: Ex-Shell chief gets £1m pay-off

Financial Times: Shell to give Watts £1m pay-out

Reuters.com: Shell says Watts pay-off does not rule out legal action

expatica.com: Spanish oil giant reaches deal with Shell

Saturday 26 June, 2004

ChannelNewsAsia: Shell hit by new lawsuit in US over reserves scandal:  “fresh lawsuit names 27 directors and officers of Royal Dutch/Shell, and also their accounting and audit firms, PricewaterhouseCoopers International and KPMG International”

Financial Times: Pension funds file suit on behalf of Shell

NewsDay.com: Shell pays former executive nearly $2 million in severance: PLUS “lawsuit… suggests the defendants forfeit salaries, bonuses, stock awards, profits and special benefits for violating their fiduciary duties”

Financial Times: Shell in more controversy with Watts pay-off

The Guardian: Shell’s £1m goodbye for ousted Watts

The Guardian: Sowing seeds for success

The Guardian: What happened next?

The Independent: Turn your big idea into a money-making business

The Independent: Investor fury over £1m pay-off for Shell chief

Daily Telegraph: Sacked Shell boss walks away with £1m: “despite his role in the oil giant’s reserves debacle”

The Times: ‘Some fear that Shell is not going to undergo the drastic shake-up that it is clear is required’

The Times: Former Shell chief awarded £1m payoff

Houston Chronicle: Shell pays $2 million to Watts: Reserves report forced departure of ex-chairman

The Wall Street Journal: Shell Holders Suit Meant To Correct Governance

The Wall Street Journal: Shell Ex-Chairman Receives $2 Million Severance Payment: “Reserves are an oil company’s most valuable asset”

The New York Times: Ousted Chairman of Shell Got $1.93 Million Package: “severance payment was a clear sign that shareholder rights were still too weak”

LETTER TO WILLIAM LERACH, US CLASS ACTION LAWYER: INCONTROVERTIBLE DOCUMENTARY EVIDENCE OF SHELL DELIBERATELY HIDING INFORMATION FROM ITS SHAREHOLDERS FROM 1994 ONWARDS

Sunday 27 June, 2004

The Independent: Shareholders to strike new blow against Shell directors: “Up to a quarter of Shell’s shareholders will deliver a crushing vote of no confidence in the Anglo-Dutch oil giant’s management tomorrow”

Economic Times: Watchdog lawyer sues Shell, execs over reserves: “about 20 suits have been filed seeking reimbursement for losses suffered in the stock market”

The Observer: Shell shock

The Observer: A pearl in Shell?

The Observer: Ethical funds dump Shell shares: “blue-chip City institutions have confirmed that they have ditched all their Shell shares”

The Sunday Telegraph: Shell heads for shareholder defeat on director responsibility

Sunday Times: Shell told to hurry up on transparency

Mail on Sunday: Shell board braced for revolt: “could see nine directors, including Chairman Jeroen van der Veer, kicked off the Dutch half of the board at the embattled oil giant”

ChannelNewsAsia.com: Embattled Shell braces for shareholder showdown: “officers and directors of these interconnected companies have hidden behind an opaque and complicated corporate structure to falsify proved oil and gas reserves for nearly 10 years”

Taipei Times: Former chairman of Royal/Dutch Shell gets giant payout: “after an accounting scandal”

Monday 28 June, 2004

The Times: Shell faces investor revolt over chairman’s £1m payoff

The Scotsman: Shell faces twin-pronged attack: “two leading fund managers representing blue-chip City institutions confirmed that they have ditched all their Shell shares”

Financial Times: Lively meetings: “Even big institutions are proposing to turn up to vent their anger at Shell’s perceived arrogance and sorry governance”

Daily Telegraph: Shell can be sure of strife: “green” investment funds managed by Morley Asset Management and Investec Henderson Crossthwaite have sold shares in Shell”

Christian Science Monitor: What severance does the chief deserve when his board calls for “a change of leadership due to a loss of confidence?”

The Times: Mountain to climb: In Peter Voser, is Shell right to hire the finance director of a company which two weeks ago detailed “accounting irregularities and other improper business practices”?

The West Australian: Anger at Shell’s slow review pace

North County Times: Shell accused of shorting gas supply

San Francisco Chronicle: Thirty Royal Dutch/Shell employees questioned by SEC in reserves probe

BBC NEWS: Troubled Shell faces shareholders

BBC News: Shell appeals to shareholders’ patience “You are still covering up the scandal,” the heckler cried to some applause,”

Reuters.co.uk: Shell survives shareholder rebellion

The Scotsman: Anger over Shell Reserves Crisis: “Oil giant Shell was today given a torrid time by shareholders angry at the crisis over its reserves”

SKY NEWS: INVESTORS ARE DISGUSTED

The Times: Shell investors reject key proposal

The Guardian: Shareholders vent anger over Shell scandal

MLive.com: Shell repeats commitment to end Nigeria gas flaring by 2008

Press Release from Friends of the Earth

The New York Times: Shell Survives Shareholder Rebellion: “Not only has Shell been overstating its oil reserves, it has exaggerated its social and environmental performance too”

The New York Times: Shell Asks Shareholders for Forgiveness

Oil & Gas Journal: Pension funds sue Shell brass, auditors, seeking damages, policy changes

Business Report: take one share to Shell AGM

Tuesday 29 June, 2004

Houston Chronicle: Royal Dutch-Shell fuels doubts

Daily Telegraph: Shell boards survive as showdown evaporates

Daily Telegraph: Shell’s board survive: No wonder Shell is in such a mess

The Guardian: Shell investors vent fury on ‘incompetent’ board: “This company is giving world class salaries to non-executives for a world class scandal.”

The New York Times: Testy Annual Meeting Focuses on Shell’s Scandal: “A few of Shell’s top executives mislead shareholders and the financial world, he said. ”In the United States,” he said, “they’d have been taken away in handcuffs.”

Business Report: SEC probe quizzes 30 Shell employees: “quizzed at the group’s annual meeting yesterday, held concurrently in The Hague and London”

Business Report (SA) Shell chairman to view problems at Sapref, says activist: “Shareholders are tired of Shell’s lying and spinning”: “a chorus of disillusionment over its integrity and transparency”

Financial Times: Shell chief ‘was told in advance’ of problems

Financial Times: Shell apologises to angry shareholders: “When somebody is asked to leave under a shadow and yet paid a huge amount of money, it is usually to keep them quiet isn’t it?”

Financial Times: Score of Shell

Financial Times: Shell’s game

Toronto Star: Oil giant’s brass beg for pardon and time: Contrition expressed at Royal Dutch/Shell: Reserve-booking fiasco stays at centre stage

The Times: Investors snub Shell in vote on liability: “When this scandal came up, Sir Mark was present. Why did he allow this departure from Shell’s business principles? He should resign from all his other directorships.”

The Times: Masters of understatement: “Today Credit Suisse First Boston was advising investors to switch to BP instead of Shell despite BP’s being 80p more costly than Shell’s”

The Independent: Dutch circus act stretches out to a record six hours: “Appropriately, the Dutch shareholders’ meeting was held in the Circus theatre”

The Independent: Investors lambast Shell over ousted chairman’s £1m pay-off: “the £1.06m pay-off for Sir Philip Watts proved that, even under new leadership, the company was still living in “a parallel universe”

The Independent: Still Shell-shocked: “a company which is obviously still in denial”

Wednesday 30 June, 2004

Financial Times: BP surprises with upward adjustment

The Independent: BP torments Shell with oil reserves revision: “BP admitted yesterday that it too had misled investors about the size of its oil and gas reserves. Unlike its rival Shell, however, BP has been underestimating them”

Daily Telegraph: Investors stunned by Shell revelation

The Wall Street Journal: BP, Norsk-Hydro Differ in Booking Field’s Reserves

The Wall Street Journal: Shell Says SEC Questioned 30 In Reserves Probe: Investigators from the SEC and the Justice Department have teamed up in the probe”

The Independent: BP has more in reserve: “prompting CSFB to advise a switch out of Royal Dutch Shell”

Financial Times: Ormen Lange highlights broader issues: “in the wake of the scandal at Royal Dutch/Shell”

Planet Ark: Shell Survives Shareholder Rebellion “Not only has Shell been overstating its oil reserves, it has exaggerated its social and environmental performance too”

Business Day: Grindrod, BP and Shell in R350m BEE deal

New York Times: Oil Firms Differ with on SEC Gas Reserves

Expatica News: Shell: 85pc of written off reserves exist

AccountingWEB.com: Pension Funds Sue Shell Seeking Damages, Governance Changes

sg.biz.yahoo.com: Shell New Zealand Approves Pohokura Gas Field

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

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