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Shell News Tuesday, 8 February 2005

Shell News Tuesday, 8 February 2005

Suicidal Shell…”It looks like the Royal Dutch/Shell Group is committing suicide in slow motion.”

THE GLOBE & MAIL (CANADA): Suicidal Shell’s best hopes lie in slow-growth oil sands: “It looks like the Royal Dutch/Shell Group is committing suicide in slow motion. It vastly overestimated how much oil it has in the ground. It pumps more oil than it finds.” (ShellNews.net) 8 Feb 05

Citywire: Gifford sells BP for Shell: “F&C equity income fund manager Michael Gifford has sold out of oil giant BP in favour of Shell…” (ShellNews.net) 8 Feb 05

The Independent (UK): What will the rest of the world do if Saudi oil runs out early?: “Aramco… claims to be more open about reserves than many investor-owned companies. This claim seems more justifiable after the sequence of restatements of reserves by Shell, the Anglo-Dutch oil major, prompting it to have all its field data audited by outsiders.”: “Last year Shell replaced only half the oil that it pumped – perhaps the lowest replacement ratio in its history.” (ShellNews.net) 8 Feb 05

AFX Europe (Focus): Royal Dutch/Shell ‘Aa1’ long-term rating affirmed, outlook negative – Moody’s: “The move follows last week’s cut in the oil giant’s long-term rating to AA from AA+ by Standard & Poor’s on concerns over the company’s poor reserves replacement position.” (ShellNews.net) 8 Feb 05

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