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Shell News Archive Thursday 23 December, 2004

Shell News Archive Thursday 23 December, 2004

Daily Telegraph (UK): City Briefs: Shell move: “Shell yesterday declared that force majeure was in effect on 114,000 barrels a day of Nigerian light crude…” (ShellNews.net) 23 Dec 04

turkishpress.com: Shell and Chevron suspend oil exports of 134,000 bpd from Nigeria: “A Shell spokesman said that the company had declared a “force majeure” to warn clients that it would not be able to meet export contracts from its Bonny terminal” (ShellNews.net) 23 Dec 04

The Kansas City Star: Shell joins clean fuel program: “Shell gasoline is the latest to meet a new fuel standard meant to ensure that engine parts are kept clean. The voluntary standard, called Top Tier, is being pushed by the automakers BMW, Honda, Toyota and General Motors over concerns about an overall decline of cleaning additives in gasoline in the last several years.” (ShellNews.net) 23 Dec 04

THE WALL STREET JOURNAL: Nelson Resources To Buy 50% Of Arman Field: “Nelson said the field is on the Caspian shoreline, 200 kilometers north of Aktau, and is operated by Arman LLP, a joint venture which will be owned 50% by Shell Kazakhstan Development B.V. and 50% by Nelson. Shell will continue to hold operating responsibility for the field.” (ShellNews.net) 23 Dec 04

THE WALL STREET JOURNAL: Shell , Chevron to Cut Deliveries Of Oil Amid Protests in Nigeria: “Royal Dutch/Shell Group said local protests will disrupt about 10% of the company’s Nigerian crude-oil deliveries through February. The move is the latest setback for Shell in strife-torn Nigeria, one of its main sources of oil, and comes amid continuing worry about global supplies.” (ShellNews.net) 23 Dec 04

AFX Europe (Focus): Shell Nigerian oil deliveries to be curtailed: “Royal Dutch/Shell Group said local protests will disrupt about 10 percent of the company’s Nigerian crude-oil deliveries through February…” (ShellNews.net) 23 Dec 04

New Straits Times (Malaysia: No hurdle too big: “THE true grit and determination of several students who excelled in their exams recently resulted in Shell Malaysia rewarding them with scholarships worth RM1 Million.” (ShellNews.net) 23 Dec 04

The Independent (UK): OUTLOOK: FSA fines: “It was the FSA’s seventh fine in as many days and brings the total raised from financial penalties so far this financial year to just over pounds 24m with three months still go. The total has been swollen by the pounds 17m penalty meted out to Shell for not being able to count its oil reserves properly and the increasing number of fines for market abuse.” (ShellNews.net) 23 Dec 04

CBS MarketWatch: Russia-owned Rosneft buys Yukos: Winning bidder’s acquisition called ‘a blow for rule of law’: “Wednesday’s purchase by Russian state-owned gas company Rosneft of BaikalFinans Group, the mysterious entity which unexpectedly won the auction for Yukos’ production unit, was “coordinated by the Kremlin,” according to a Russia expert.” (ShellNews.net) Posted 23 Dec 04

THE WALL STREET JOURNAL: Timeline Seen As Key Downfall To Shell-Kelso Deal – Source: “Shell Oil’s tight timeline for disposing of its Bakersfield, Calif., oil refinery was a key factor driving away a top bidder, a source familiar with the negotiations said Wednesday. Shell was trying to complete the sale quickly, and the potential buyer was not willing to rush the deal, the source said.” (ShellNews.net) Posted 23 Dec 04

THE WALL STREET JOURNAL: Shell Sees Nigeria Protests Cutting Oil Deliveries by 10%: “Royal Dutch/Shell Group said community protests will disrupt about 10% of the oil company’s Nigerian crude-oil deliveries through February. The move is the latest setback for Shell in strife-torn Nigeria, one of its main sources of oil, and comes amid continuing worry about global petroleum supplies.” (ShellNews.net) Posted 23 Dec 04

THE WALL STREET JOURNAL: Shell Brazil President Castelli To Leave Company in Feb.: “The president of the Brazilian unit of Royal Dutch/Shell Group (RD, SC), Aldo Castelli, will leave his post early next year, the company said in a statement. Castelli will go into early retirement on Feb. 15, 2005, and be replaced by Vasco Dias…” (ShellNews.net) Posted 23 Dec 04

THE WALL STREET JOURNAL: Norway’s Gassco Hires Shell To Trade Its C02 Emissions: “Norwegian natural gas infrastructure operator Gassco Wednesday said it has hired Royal Dutch/Shell Group’s (RD, SC) trading arm to trade its carbon dioxide emission allowances” (ShellNews.net) Posted 23 Dec 04

THE WALL STREET JOURNAL: India’s Economic Path May Hinge on Oil Finds: “Mike Watts, Cairn’s exploration director, says India contains good hydrocarbon deposits that have been “missed or written off by the majors.” In 2002, Cairn bought out its then-partner in Mangala, Royal Dutch Shell Group, which wasn’t interested in drilling more wells. A Shell spokesman declined to comment.” (ShellNews.net) Posted 23 Dec 04

THE WALL STREET JOURNAL: ChevronTexaco:Can’t Deliver 20,000 B/D Nigeria Bonny Oil: “Shell declared force majeure effective at midnight local time Thursday (1100 GMT Wednesday) on 114,000 b/d of its Nigerian Bonny Light crude because of production disruptions following villagers’ protests at some of its oil platforms in the Niger Delta.” (ShellNews.net) Posted 23 Dec 04

MarketWire: “Shell Helping Lead the Way to ‘The Hydrogen Economy”: “Shell Hydrogen sees the way to ‘The Hydrogen Economy,” featuring an exclusive interview with Shell Hydrogen’s CEO Jeremy Bentham…” (ShellNews.net) Posted 23 Dec 04

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