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Shell News Friday, 14 January 2005

Shell News Friday, 14 January 2005

Yahoo! News: Shell Hopes to Restart Platform Production: “Hundreds of men, women and children stormed oil platforms to demand a greater share of oil wealth in the protests…” (ShellNews.net) 14 Jan 05

aljazeera.net: Shell reopens oil stations in Nigeria: “The Anglo-Dutch energy group Shell has reopened all its oil pumping stations shut down last month because of community unrest in southern Nigeria, a spokesman has said.” (ShellNews.net) 14 Jan 05

Bangkok Post – Thailand: Shell Autoservice projects 10% rise in sales: “In 2004, the company posted sales of 1.1 billion baht, up 8.5% from the year before, and added 100,000 new customers, raising its customer base to one million.” (ShellNews.net) 14 Jan 05

mysan.de: Shell Employees Honor Dr. King's Legacy With Day of Service: “On Monday, January 17, more than 150 Shell Oil Company (Shell) and Motiva Enterprises LLC (Motiva) employees will participate in the 8th annual Martin Luther King, Jr. Day of Service in Houston” (ShellNews.net) 14 Jan 05

THE LONDON TIMES: Need to Know: Global Business Briefing: “Royal Dutch/Shell, the Anglo-Dutch oil giant, said that the US Securities and Exchange Commission had lifted a ban on it buying back its shares. The ban had come into place when Shell announced its planned restructuring in October.” (ShellNews.net) 14 Jan 05

THE FINANCIAL TIMES: Shell could restore share buy-backs: “The company only returned $1.7bn (£900m) to shareholders last year, while rival BP took advantage of record oil prices to return $7.5bn. Shell will find it difficult to compete with BP as it tries to spend its way out of its reserves crisis.“ (ShellNews.net) 14 Jan 05

FINANCIAL TIMES: French call for common standards: “Scandals such as Parmalat, the Italian dairy company that collapsed under €14bn ($18.5bn) of debt; Ahold, the Dutch retailer; and Royal Dutch/Shell’s reserves debacle have given European corporate governance reforms fresh impetus.” (ShellNews.net) 14 Jan 05

FINANCIAL TIMES: FSA to look at AI share movements: “Over recent months, the FSA has taken a more aggressive approach to irregularities, publicising more frequently when it is formally investigating companies, and fining miscreants. In December, it announced its biggest fine against an individual – £290,000 from entrepreneur and former investment banker Robert Bonnier; and in August its biggest fine against a company – £17m from Shell.” (ShellNews.net) 14 Jan 05

Asia Pulse: NO TALKS ON SHELL STAKE IN AUSTRALIA’S WOODSIDE: MINISTER: “Energy Minister Ian Macfarlane Thursday said he was not aware of any approaches by a foreign party to buy Royal Dutch/Shell’s stake in oil and gas producer Woodside Petroleum Ltd” (ShellNews.net) 14 Jan 05

THE WALL STREET JOURNAL: Norway Oil Indus Can Expect EUR1B Tax Rebate -E&Y: “”This decision by the Norwegian Supreme Court now opens the door for oil companies, including the majors, to follow Shell’s lead and seek repayment of past taxes,” said Derek Leith, the head of Ernst & Young’s oil and gas taxation.” (ShellNews.net) Posted 14 Jan 05

THE WALL STREET JOURNAL: Shell, Bechtel Set Shortlist of Buyers For Power Venture: “The move is part of an effort by Shell to raise as much as $12 billion, or about €9 billion, by 2006, mostly through asset sales”: (ShellNews.net) Posted 14 Jan 05.

allAfrica.com: Shell Restores 65,000 Bpd Crude Production: “Shell Petroleum Development Company (SPDC) announced yesterday that it has been able to restart three of its oil flowstations shut down in the Niger Delta…” (ShellNews.net) Posted 14 Jan 05

THE NEW YORK TIMES: Shell Shuts Down More Nigerian Oil Output: “Protesting villagers have forced the Nigerian subsidiary of Royal Dutch/Shell Group of Cos. to cut oil output in the volatile Niger Delta, hampering efforts by the Anglo-Dutch oil company to recover from earlier protests last month, a company spokesman said Thursday” (ShellNews.net) Posted 14 Jan 05

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