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Shell News Archive Monday 13 December, 2004

Shell News Archive Monday 13 December, 2004

Business World: Tullow joint bid for N Sea gas fields? “Tullow Oil is a joint bidder with a US energy firm, according to a weekend report, for 316m euro of North Sea oil assets being sold by Shell and Exxon.” (ShellNews.net) 13 Dec 04

Business Wire: PIW Ranks World’s 50 Top Performing Oil Companies in Latest Annual Standings: “Shell is in a tie for fifth place with BP, due partly to its huge reserves downgrade” (ShellNews.net) 13 Dec 04

Daily Telegraph (UK): City briefs: Aramco leads: “Petroleum Intelligence Weekly has produced a ranking of the world’s top 50 oil companies…” (ShellNews.net) 13 Dec 04

THE TIMES (UK): FSA red faces in splits settlement: “Separately, Sir Philip Watts, former head of Shell, and the FSA have agreed to postpone the hearing of an independent tribunal. Watts and the regulator had asked it to rule on whether Watts was incorrectly identified and prejudiced by the FSA when it published a formal notice fining Shell £17m for misleading the market over the size of its oil reserves.” (ShellNews.net) Posted 13 Dec 04

THE TIMES (UK): Special Report: Who is business champ of 2004? Paul Durman introduces the runners and riders for our prestigious annual award: “Gammell was in the right place again in January when Cairn struck an enormous oil reservoir under the Rajasthan desert in India. As further finds suggested Cairn had stumbled on almost a billion barrels of oil, the company’s shares spurted from about £3 to £15. Shell could only look on in embarrassment: it had sold Gammell the rights to the field for a few million pounds.” (ShellNews.net) Posted 13 Dec 04

THE TIMES (UK): And those who need not apply: “Sir Philip Watts, former chief executive of Shell: For losing 25% of his oil reserves, and his job as well. And for making our business editor tramp round Shell Centre in search of the loo: Judy Boynton, Shell’s former chief financial officer: Couldn’t make the oil giant’s numbers add up. Another casualty of the reserves crisis” (ShellNews.net) Posted 13 Dec 04

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