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Shell News Monday 20 December, 2004

Shell News Monday 20 December, 2004

Financial Times: Oil in the workings of high finance: “BP, Total and Shell now have trading teams that rival the biggest banks in terms of trader numbers, an ingrained entrepreneurial culture – which causes worries about risk at the credit rating agencies – and highly advanced IT systems. Shell employs 240 oil traders, while BP and Total’s teams are bigger still”: “A very big global oil company is in the physical market all the time and there is an enormous information flow coming out of the business on a physical level on a daily basis. This gives the oil trading divisions an in-built advantage over the market, and they use it.” (ShellNews.net) 20 Dec 04

AFX Europe (Focus): Tullow Oil buys some Shell, ExxonMobil North Sea gas assets for 200 mln stg: “Tullow Oil PLC said it is buying some North Sea gas production assets from Royal Dutch/Shell Group and ExxonMobil Corp for 200 mln stg. The deal covers all Shell’s and ExxonMobil’s producing interests in the Schooner and Ketch gas fields and surrounding acreage.” (ShellNews.net) 20 Dec 04

THE TIMES (UK): Britain looks east for new energy: “CONCERNS over Britain’s dwindling domestic energy supplies have forced politicians and the biggest gas and electricity groups to look east for a new source. Their sights have settled on Russia.

THE WALL STREET JOURNAL: Tullow Oil To Buy Schooner, Ketch Fields Interests: “Tullow Oil, the independent international oil and gas exploration and production company, said Monday that it has entered into agreements with Shell U.K. Limited and Esso Exploration and Production U.K. Limited to purchase their entire producing interests in the Schooner and Ketch gas fields and surrounding acreage.” (ShellNews.net) 20 Dec 04

BARRON’S Online: Eau, Please: Investment firm jousts with Suez to boost values: “Knight Vinke made a name for itself as one of the investors that successfully urged a corporate makeover at Royal Dutch/Shell. But unlike the Anglo/Dutch oil giant, which still is feeling the repercussions of its misstated petroleum reserves, Suez isn’t in crisis.” (ShellNews.net) 20 Dec 04

ChinaView.cn: Nigerian oil communities give Shell ultimatum on road project: “Twelve Nigerian communities in the restive oil-rich Niger Delta region have given oil giant Royal Dutch/Shell up to Dec. 31 to start work on an abandoned road or face a showdown, the News Agency of Nigeria reported Sunday.” (ShellNews.net) Posted 20 Dec 04

ameinfo.com (Middle East): Shell welcomes renewal of Oman concession agreement: The agreements were signed in Muscat on behalf of the Government of Oman by His Excellency Dr Mohamed bin Hamed Al Rumhy, Omani Minister of Oil and Gas, and Malcolm Brinded, Executive Director Exploration and Production of the Royal Dutch/Shell Group of Companies.” (ShellNews.net) Posted 20 Dec 04

bernama.com (Malaysia): Shell Secures Funds To Develop Newly-discovered Oil Fields Off Sabah: “Shell Malaysia has secured the funds it needs to develop two new oil fields discovered off Sabah this year, its Chairman Datuk Jon Chadwick said.” (ShellNews.net) Posted 20 Dec 04

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