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Shell News Sunday, 23 January 2005

Shell News Sunday, 23 January 2005

THE NEW YORK TIMES: A Peaceful Place, Still Ready to Fight (a Gas Plant): “Broadwater Energy, a partnership formed for the project by TransCanada Corporation of Calgary and Shell U.S. Gas and Power of Houston, an affiliate of the Royal Dutch Shell Group, is proposing to build what could become the first offshore liquefied natural-gas facility.” (ShellNews.net) 23 Jan 05

The Sunday Observer (UK): Shell reserves shortfall ‘even worse than feared’: Internal audit expected to downgrade another 500m barrels (ShellNews.net) 23 Jan 05

The Independent On Sunday (UK): ‘Inquisitors’ and ‘gangsters’: City watchdog savaged by splits broker: “It faces further costly appeals from the likes of the former Shell chairman, Sir Philip Watts.” (ShellNews.net) 22 Jan 05

DAILY MAIL (UK): CITY & FINANCE: Total takeover gossip pumps up Shell price: ALMOST 100m shares in oil giant Shell were traded as a slick takeover rumour made dealers sit up and take notice. The close was 10%p higher at a year’s peak of 456p amid growing speculation that Total of France, the world’s fourth largest oil and gas company, is lining up a cash offer.”: “It is not the first time that Shell and Total have been mentioned in the same breath, but informed sources yesterday suggested that something really could be afoot this time…” Posted 23 Jan 05

THE SUNDAY TIMES (UK): Focus: On top of the world: “Shell faces questions as to whether it can survive at its current size. It was forced to cut about one-third of its proven oil reserves last year and is expected to announce further cuts when it releases its annual results next month. Like BP in the early 1990s, Shell must find huge new reserves if it is to survive. These difficulties have led many to speculate whether Shell is ripe for a takeover, but BP and Total, the French oil giant, are unlikely to move on their rival unless invited to do so by the board of Shell itself.” (ShellNews.net) 23 Jan 05

THE SUNDAY TIMES (UK): HOW THE BIG FOUR COMPARE: “Royal Dutch/Shell has proven reserves of about 14.4 billion barrels of oil equivalent. This figure may change, however, when the company announces its final revision next month following the accounting scandal last year when it was forced to cut about a third from its total reserves.” (ShellNews.net) 23 Jan 05

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