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Shell News Archive Sunday 7 November, 2004

From our Shell News Archive for Sunday 7 November, 2004

San Francisco Chronicle: Foreign oil firms step up to train workers in Iraq: There’s no immediate payoff, but they’re thinking long term: “We are interested in building long-term relationships with Iraqis and establishing a material and enduring presence in Iraq,” Shell spokesman Simon Buerk said. (ShellNews.net) 7 Nov 04

Mail on Sunday (UK): Unilever plots £33bn colossus: “Two weeks ago, Royal Dutch and Shell Transport, which are separately listed in Amsterdam and London, announced they would merge to form a single company with a single management team under chief executive Jeroen van der Veer. Significantly, he is also a nonexecutive director at Unilever.”: “Unilever has not had the problems of Shell, but let’s hope it doesn’t come to that before the company decides to change and speed up its decision making processes.” (ShellNews.net) 7 Nov 04

THE BUSINESS (EU): Oil supply to peak sooner than we think, says BP scientist: “…points to oil production peaking between 2010 and 2020.”: “If true, it would mean demand outstripping supply much earlier than energy projections by ExxonMobil and Shell.”: “There’s a certain degree of hesitancy for oil companies to go on the record and say, ‘we are doing well with oil prices where they are now, but 10 years down the road things actually look pretty dire’.” (ShellNews.net) 7 Nov 04

THE BUSINESS (EU): Gazprom tightens its grip: Western firms are wooing Russia s energy powerhouse: Turning the screw: Gazprom will soon be five times the size of the world’s biggest private oil company, Exxon Mobil, and be able to dominate its competitors: “If it were a country, it would rank number three in terms of reserves after Saudi Arabia and Iran.”: “In October, Gazprom chairman Alexey Miller seemed to be on everybody’s appointment lists, holding London meetings with BP’s chief executive Lord Browne, Royal Dutch/Shell chief executive Jeroen van der Veer and Exxon Mobil president Rex Tillerson – all in one day.”: “RoyalDutch/Shell, Exxon Mobil and BP are all on the point of giving the Russian giant entry to their two respective projects on Sakhalin Island, even though theoretically they are under less pressure than BP at Kovykta.” (ShellNews.net) 7 Nov 04

Daily Mail (UK): Shell still waiting: “THE Financial Services Authority is still considering whether to take action against directors of oil giant Shell over the company’s reserves overbooking scandal, according to the watchdog’s boss Callum McCarthy.” (ShellNews.net) Posted 7 Nov 04

The Sunday Times (UK): Iranians and Chinese bid for Basell: “THE state-owned oil companies of Iran and China have been shortlisted to buy Shell’s Basell plastics business, which is expected to be sold next year.”: “The sale will be the first in a $10-$12 billion asset-disposal programme by Shell in the wake of a reserves overbooking scandal.” (ShellNews.net) 7 Nov 04

The Observer (UK): Shell plays a blinder: “Once again, you have to hand it to Shell for foresight, intuition and perspicacity. Alone among the world’s big oil companies, Shell managed to end up on the losing side of the American election…”: “But then again, not very surprising for a company that manage to lose billions of dollars of its own oil reserves” (ShellNews.net) 7 Nov 04

The Sunday Times (UK): Do big stocks pose a threat to trackers? Some experts worry that funds that follow the UK market are too dependent on a few firms such as Shell.: “some are worried by the news that Royal Dutch/Shell, which is currently listed on the Dutch and UK stock exchanges, is planning to list solely in London” (ShellNews.net) 7 Nov 04

The Observer (UK): Banker in the tower of Babel: “European Bank for Reconstruction and Development”: “The EBRD is also embroiled in one of the world’s most controversial gas and oil projects, the $10bn Sakhalin pipeline from Siberia to Japan, which threatens the survival of a rare breed of whales. Shell, the leader of the pipeline consortium, must undertake more research before the EBRD approves a loan. Though the project is likely to go ahead whatever the EBRD decides, a refusal to lend the money would be a huge credibility blow to Shell.” (ShellNews.net) 7 Nov 04

The Observer (UK): Payback time for USA Inc: The big donors by Oliver Morgan: “Corporate America – and corporate Britain, as the donations of BP, Shell, BAE Systems, Catterpillar and GSK show – bet right. The markets rose, pharmaceutical, oil and defence stocks all gained. So now it’s payback time.” (ShellNews.net) 7 Nov 04

Ohio.com: Two companies owned by state senator file for bankruptcy: “The companies run stores and gas stations as part of relationships with Shell, True North Energy and Marathon.” (ShellNews.net) 7 Nov 04

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