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Shell News Wednesday, 2 February 2005

Shell News Wednesday, 2 February 2005

DAILY EXPRESS (UK): Drivers fume at Shell’s £25m profit every day: “Shell’s new chief executive, Jeroen van der Veer, is set to make millions from a new pay package deal.” (ShellNews.net) Posted 2 Feb 05

FINANCIAL TIMES: Royal Dutch/Shell: “The mountain that Jeroen Van der Veer, chief executive of Royal Dutch/ Shell, still has to climb is underlined by a staff survey showing that less than half the company’s workforce believes it is well led.” (ShellNews.net) 2 Feb 05

FINANCIAL TIMES: Shell staff unhappy with leaders: “Those that are in charge of change are themselves tied to the old culture.” A person close to the company said: “Without exception, every Shell person I have met recently has asked me if I am able to help them find something else. Others are leaving without even waiting to find another job.” (ShellNews.net) 2 Feb 05

THE WALL STREET JOURNAL: CFTC Charges 15 With Manipulating Gas Mkt: “The U.S. Commodity Futures Trading Commission filed complaints Tuesday against 15 natural gas traders at seven companies, alleging widespread efforts to manipulate gas markets”: “In some cases, high-ranking trading officials at the companies, including Mirant Corp. and Royal Dutch/Shell Group unit Coral Energy, knew about or took part in the schemes” (ShellNews.net) 2 Feb 05

THE WALL STREET JOURNAL: Big Oil May Drill New Paradigm: “…Royal Dutch/Shell Group, French giant Total SA and Norway’s Statoil ASA, along with Chinese and other international oil firms, are considering investing.” (ShellNews.net) 2 Feb 05

THE WALL STREET JOURNAL: Venezuela Pres Confirms Talks To Buy Shell Argentina Ops: “”We have a common interest,” Chavez said of Venezuela’s “advanced” stage negotiations with Shell, noting that the latter wants to get out of Latin America while PdVSA wants to expand in the region.” (ShellNews.net) 2 Feb 05

Forbes: Venezuela in Talks to Buy Shell Operations: “Venezuela’s state-run oil company is in talks to buy the Argentine operations of Royal Dutch/Shell, Venezuelan President Hugo Chavez said Tuesday” (ShellNews.net) 2 Feb 05

Interactive Investor: Repsol YPF hires UBS to design bid for Shell’s LPG ops in Spain – report: “Shell is targeting the sale of the assets in the second quarter of 2005, the newspaper said, noting that BP PLC and Total SA are also expected to bid.” (ShellNews.net) 2 Feb 05

THE LONDON TIMES: “The long-frosty relationship between China and Russia is warming as the pair demonstrate that they are not in thrall to the United States.”: “Perhaps they might one day turn their attentions to buying a British oil business. A London-listed Shell might appeal.” (ShellNews.net) 2 Feb 05

The Guardian (UK): Ecosounding: “Among the companies getting mentions will be two who would like the following weighed in the balance: General Motors, which is providing 13 fuel cell powered vehicles for New York, and oil giant Shell, whose hydrogen arm will establish New York state’s first hydrogen service station in 2006. Let’s hope it is the shape of things to come and not greenwash.” (ShellNews.net) 2 Feb 05

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