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Shell News Tuesday, 25 January 2005

Shell News Tuesday, 25 January 2005

The Guardian (UK): BP chief’s remarks enrage Iran: Oil minister lashes out as Lord Browne says country is not fit for investment: “…while US firms such as ExxonMobil and ChevronTexaco have steered clear, other European majors such as Shell and Total have been pushing ahead with projects.” (ShellNews.net) 25 Jan 05

THE LONDON TIMES: Buyout firm is latest suitor for Shell’s liquefied gas arm: “BC PARTNERS, the buyout group, yesterday emerged as the latest suitor for Royal Dutch/Shell’s liquefied petroleum gas business, which is expected to be sold for up to $3 billion (£1.6 billion), The Times has learnt.” (ShellNews.net) 25 Jan 05

Accountancy Age: Shell shortfall worse than feared: “Embattled petroleum giant Royal Dutch/Shell is expected to announce massive oil reserve downgrades – including one of almost 150 million barrels from Canada alone – as it reaches the conclusion of its internal audit and prepares for its results, due for release on 3 February.”: “The huge shortfall in reserves is one of a series of catastrophic announcements that has blighted Shell over the past 12 months.” (ShellNews.net) Posted 25 Jan 05

The Miami Herald: GM, Shell Oil to bring fuel-cell vehicles to New York (ShellNews.net) Posted 25 Jan 05

greencarcongress.com (USA): GM, Shell Bringing Fuel Cell Vehicles and Fueling to NY (ShellNews.net) Posted 25 Jan 05

THE WALL STREET JOURNAL: Shell Seeking Higher 2005 Capital Budget From PdVSA: “Royal Dutch/Shell is in talks with Petroleos de Venezuela S.A. after the Venezuelan national oil company proposed a capital budget that is smaller than what the Anglo-Dutch oil giant wants…” (ShellNews.net) Posted 25 Jan 05

THE WALL STREET JOURNAL: GM Announces Joint Effort To Bring Fuel Cell Vehicles To NY: “…the Detroit-based auto maker said it will supply the state of New York with about 40 fuel-cell-powered minivans and sport-utility vehicles, while Shell will supply the hydrogen refueling capabilities…” (ShellNews.net) Posted 25 Jan 05

THE WALL STREET JOURNAL: Shell To Provide Refinery Mgmt Services To Sibneft: “Sibneft said it had awarded Shell Global Solutions a four-year contract to provide operational and technical services support for the refinery as part of an overall performance improvement program.” (ShellNews.net) Posted 25 Jan 05

THE WALL STREET JOURNAL: Shell’s LPG Unit Draws Interest Beyond Private-Equity Firms: “The sale of Royal Dutch/Shell Group’s liquefied petroleum-gas unit is attracting interest beyond private-equity firms, with Repsol YPF SA, BP PLC and Total SA looking at it, individuals familiar with the talks said. They said the asset is potentially valued at more than $3 billion” (ShellNews.net Posted 25 Jan 05

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