Shell News Archive Sunday 19 December, 2004

by John Donovan.

Shell News Archive Sunday 19 December, 2004

THE SUNDAY TIMES (UK): Quote of the Week: ‘Perhaps some of you have even started taking French lessons’: Jeroen van der Veer, chief executive of Royal Dutch/Shell, refers to rumours of a takeover bid…” (ShellNews.net) 19 Dec 04

THE SUNDAY HERALD (SCOTLAND): Scandal Monger: Blood on the Boardroom Floor: “In a private speech helpfully revealed by the Financial Times the other day, Jeroen Van der Veer, the chief executive of the company, admitted…”: “He also admitted that middle managers had lost faith in the leadership – it was clearly a speech not meant for public consumption when you hear confessions like that.”: “But it is clearly an accurate description of the state of play at Shell. Instead of the shadow left over the company being driven away by the bold moves to change the company’s overwieldy twin board structure, the spectre still very much remains. How much it must have hurt when Brinded had to announce in October that more cuts would be needed.” (ShellNews.net) 19 Dec 04

The Sunday Observer (UK): Think small. Save the world: “The Foundation, an independent body with an endowment of £250 million from Shell, thinks it has an answer: nurturing small enterprise in poor countries”: “What’s in it for Shell? In the first place, nurturing small enterprise develops a local supply base. In South Africa, where black empowerment and entrepreneurship are high on the political agenda, doing business with small black firms may become a regulatory requirement. But the same reasoning applies to any country.” (ShellNews.net) 19 Dec 04

The Sunday Telegraph (UK): Ratcliffe in £2bn bid for Shell plastics: “Jim Ratcliffe, one of Britain’s most successful industrial entrepreneurs, has emerged as a surprise bidder for the Basell plastics business of Shell, which is being sold for about €4bn (£2.1bn).”: “Basell is the world’s largest polypropylene producer, with sales last year of £3.9bn. The sale is the first stage of Shell’s plans to sell assets worth up to $12bn in the wake of its reserves overbooking scandal.” (ShellNews.net) 19 Dec 04

The Sunday Telegraph (UK): The oligarchs battle for oil: “Meanwhile, Sibir Energy also has strong partnerships with Western oil companies. There is a joint venture with BP in Moscow’s petrol stations and a promising joint venture with Shell in the huge Siberian Salym oilfield.” (ShellNews.net) 19 Dec 04

TIMES OF OMAN: Shell Oman unveils plans for key social investment projects: “During the event, Shell also revealed a ‘Shell Traffic Park’ initiative, to be conducted in coordination with the Royal Oman Police and Shell Oman Marketing Company. This initiative will be developed in line with similar schemes developed by Shell in Singapore and Malaysia.” (ShellNews.net) 19 Dec 04

Vanguard (Nigeria): Crude theft is bleeding the economy — Shell: “By the time you put all the figures together, it is colossal”, top spokesperson of the company, Mr Larry Ossai, said in Abuja. He disclosed that Shell alone lost 15 million barrels of production potentials between January and last month, under what he called “opportunity loss”, amounting to as much as $530 million.” (ShellNews.net) Posted 19 Dec 04

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Posted in: Daily Telegraph, Jeroen van der Veer, Oil, Royal Dutch Shell Plc, Shell Oil Reserves Scandal.

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