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Shell News Archive Wednesday 17 November, 2004

From our Shell News Archive Wednesday 17 November, 2004

BLOOMBERG: Enbridge to Buy Shell’s Gulf Pipelines for $613 Mln (Update1): “Canada’s second- largest pipeline company, agreed to buy Shell Gas Transmission LLC for $613 million to gain pipelines in the Gulf of Mexico for the first time.”: “Royal Dutch/Shell, based in London and The Hague, plans to sell as much as $12 billion of assets in two years to fund investments and return cash to shareholders.” ( 17 Nov 04

National Post (Canadian Press): Enbridge paying US$613M for Shell natural gas pipelines in Gulf of Mexico: “CALGARY (CP) – Energy distributor Enbridge Inc. is getting bigger with a $613-million-US purchase of Shell Gas Transmission and its natural gas pipeline network in the Gulf of Mexico.” ( 17 Nov 04

Financial Times: Woodside pulls out of $5.15bn Timor Sea gas project: “Royal Dutch/Shell, which has a 34 per cent stake in Woodside, also has a 26 per cent stake in the Sunrise project, while Conoco Phillips has a 30 per cent share. The remainder is held by Osaka Gas.” ( 17 Nov 04

THE WALL STREET JOURNAL: Shell Denies Trying To Drive Dealers Out Of Business: “Proceedings of a lawsuit filed against Royal Dutch/Shell Group (RD, SC) by Shell service station owners in Massachusetts started Monday in a U.S. District Court in Boston.” ( Posted 17 Nov 04

THE WALL STREET JOURNAL: Shell China Units Buy 75% Stake In Shanghai Pioneer: “BEIJING — Royal Dutch/Shell Group’s two units in China have jointly acquired a 75% stake in Shanghai Pioneer Road Service Company Limited, Shell said Wednesday.” ( 17 Nov 04

THE WALL STREET JOURNAL: Australia’s Oil Profile Gets a Boost: “SYDNEY, Australia — Not long ago, Australia’s oil-and-gas industry was stuck in neutral.”: “Today, the world looks a lot different Down Under.”: “All this activity is raising Australia’s profile at a critical juncture. At a time when much of the world’s oil and gas reserves are in politically unstable and unpredictable countries, Australia is becoming an especially reliable source of energy, with lots of potential for expansion. ( 17 Nov 04

THE WALL STREET JOURNAL: ExxonMobil: To Focus On Exporting Sakhalin-1 Gas Via Pipe: “However, the consortium is yet to conclude any gas sales agreements to export its gas via pipeline and is lagging behind the Sakhalin Energy Investment Co. Ltd. project, led by Shell which is well on its way to selling out all of its gas as LNG.”: “ The Shell-led Sakhalin-2 project, which is valued around $10-$12 billion, has focused on selling its gas in the form of LNG to customers in Japan and is in discussions with Korean and Chinese companies.” ( 17 Nov 04

THE WALL STREET JOURNAL: Sakhalin-2 CEO: Cost Overruns Not Serious;1st Cargo End-07: “LONDON — Cost overruns at the Sakhalin-2 project led by Shell won’t have a long-term impact on the massive oil and gas development, with the first shipment of liquified natural gas on schedule for delivery in three years time, the operator said Tuesday. Posted 17 Nov 04

AFX Europe (Focus): Shell China units acquire 75 pct stake in Shanghai asphalt plant: “Shell China Holding and Shell (China) acquired the 75 pct stake from Australia’s Pioneer Road Services Pty Ltd, which is 50 pct owned by Shell Australia.” ( 17 Nov 04

SPECIAL FEATURE FOCUSED ON BBC2 Newsnight programme broadcast on 15 November 2004 entitled “Oil gangs threaten Nigerian unity”

BBC2 TV “Newsnight”: Oil gangs threaten Nigerian unity: “The Niger Delta is, effectively, America’s reserve fuel tank. If the Delta conflict spirals out of control, it could destroy Nigeria’s unity and disrupt the global balance of oil supply. That is the doomsday scenario – and completely avoidable according to experts in conflict resolution.”: “A report for the oil company Shell explains the role of the armed gangs at local level in the elections of 2003″: “With the return of democracy… these groups became even more prominent as local politicians and parties supplied youth groups with money, weapons and political/legal immunity… in the run up to elections. “Once elections were over, these rewards were not forthcoming. Rather than returning weapons, these groups engage themselves in a range of criminal activities.” (Peace and Security in the Niger Delta, WAC Global Services, December 2003) ( Posted 17 Nov 04


Related article in The Guardian:

The Guardian: Oiling the wheels of death: Katharine Houreld reports on the trade in stolen oil in Nigeria, where the stakes are high and corruption is rife: “Mutiu Sunomu, Shell’s production manager, says that up to 60,000 barrels of the company’s crude is stolen a day. Although he denies that the company tolerates such theft, which often profits powerful local leaders, he accepts that “it is strange that the thieves seem so familiar with our asset base [of pipelines and wellheads]”. ( 17 Nov 04

Related article in Vanguard (Lagos): (Vanguard; Lagos): Wabara Orders Shell to Pay N210b Compensation Or Quit: “SENATE President, Chief Adolphus Wabara, yesterday asked multinational oil giant, Shell, to pay the N210 billion ($1.5 billion) compensatory damages awarded against it to Ijaw of Bayelsa State or leave the country.”: “Chief Wabara at two different occasions yesterday warned that no company no matter how big should regard itself above the laws of the federation.”: “Affirming that the award was necessary to heed off violence in the Niger Delta area, Senator Wabara said: “If Shell is becoming too large or too big to obey our laws they should try other countries. If they disrespect the resolution of the National Assembly, then they have no business in Nigeria.” ( 17 Nov 04

Related commentary by Shell: Emmanuel Etomi, Sustainable Community Development Manager for Shell Petroleum Development Company of Nigeria (SPDC) reports on a new approach to help reduce conflict in the troubled Niger Delta. ( Posted 17 Nov 04

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