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Shell News Archive Sunday 5 December, 2004

Shell News Archive Sunday 5 December, 2004

THE TIMES (UK): Shell chops job change policy: “The generalist-to-specialist move is intended to foster radical cultural change at the embattled oil group, which this year had to cut its proven oil reserves by about a third.” (ShellNews.net) 5 Dec 04

THE NEW YORK TIMES: Floating an Idea: “A recently announced plan to place a floating natural gas depot in the middle of Long Island Sound seemed so nakedly destructive to the environment that we were tempted to hit the pause button on our critical faculties and let this editorial write itself.”: “The group behind the project, Broadwater Energy – a partnership between the TransCanada Corporation of Calgary and Shell U.S. Gas and Power, a Houston-based affiliate of Royal Dutch/Shell – has powerful arguments on its side. Long Island needs energy, which has to come from somewhere.” (ShellNews.net) 5 Dec04

The Observer (UK): Big (and small) will be beautiful next year: “Could 2005 be the year of the large company? A growing number of fund managers think it is time for big companies to make the running and are piling into the likes of Vodafone or Shell in preference to tiddlers such as Thus or Melrose Resources.”: “But beware: Shell’s proposed restructuring means it will jump from 3.6 to 8.6 per cent of the index, which, added to BP’s weighting, would leave oil accounting for more than 18 per cent of the portfolio. That is a heavy exposure to oil.” (ShellNews.net) 5 Dec 04

Sunday Telegraph (UK): FSA steps up inquiry into Shell reserves fiasco: “The FSA has already fined the oil giant £17m for committing market abuse and breaching the listing rules. But it has also said it is continuing its investigation into “other aspects of this matter”.: “In its ruling accompanying the fine, the FSA said Shell’s false or misleading announcements of proved reserves were made despite warnings from 2000 to 2003 that its proved reserves as announced to the market were false.” (ShellNews.net) 5 Dec 04

SCOTLAND ON SUNDAY: Shell in talks to save £220m oil and gas sale (ShellNews.net) 5 Dec 04

agencyfaqs.com (India): Shell returns to fuel retailing: “ANGLO-DUTCH oil major Shell has staged a return to auto fuel retailing in India after a gap of nearly three decades, opening its first petrol pump in Bangalore last week” (ShellNews.net) 5 Dec 04

NEWS.com.au (Australia): Idea works for buddies: “That investment looks set to pay off, and the pair will be named NSW Young Entrepreneurs of the Year at Shell’s Livewire youth business awards tomorrow.”: “WorkBuddy beat a field of eight finalists to win the title, which comes with a trophy and a $7000 cheque from Shell.” (ShellNews.net) 5 Dec 04

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