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Shell News Friday, 18 February 2005

Shell News Friday, 18 February 2005

FINANCIAL TIMES: Total chief rules out a ‘transforming merger’: “Total was rumoured last year to be considering a takeover bid for Shell, its bigger Anglo-Dutch rival, which was hit by an accounting scandal.” (ShellNews.net) 18 Feb 05

FINANCIAL TIMES: Lex live: Dual primary listings: “Two heads are said to be better than one, though Unilever and Royal Dutch/Shell have seemed intent on proving the opposite of late.” (ShellNews.net) 18 Feb 05

Le Monde (France); Record profits for Total (Le prix du petrole a permis a Total de degager un profit de 9 milliards d’euros en 2004) “Mr Desmarest also said that, thanks to its exploration efforts, Total should be able to achieve more than 100 per cent replacement of its oil and gas reserves.” (ShellNews.net) 18 Feb 05

Houston Chronicle: Shell awarded LNG permit: Terminal will be built off Louisiana: “The terminal, which would be the first for LNG operated by Shell, based in London and The Hague, in the United States, is expected to be operating by 2010 at a cost of $700 million, Shell spokesman Johan Zaayman said. It will have the capacity for as much as 1 billion cubic feet of gas a day.” (ShellNews.net) 18 Feb 05

BLOOMBERG: Shell, Exxon Tap Oil Sands, Gas as Reserves Dwindle (Update1): “Shell Reserve Slump: Shell, based in London and The Hague, reported Feb. 3 that reserves fell in 2004 because it found enough oil to replace just 15 percent to 25 percent of what the company pumped.” (ShellNews.net) 18 Feb 05

AdWeek.com: Contenders Pursue $240 Mil. Shell Media: “The Shell Group in London last week heard from five shops for its $240 million global media consolidation, sources said.” (ShellNews.net) Posted 18 Feb 05

THE WALL STREET JOURNAL: US Officials OK Proposed LNG Terminal Off Louisiana Coast: “The Shell U.S. Gas and Power LLC Gulf Landing terminal would handle more than 1 billion cubic feet of gas a day, transferring it from supercooled tankers to pipelines running to Louisiana and Texas. Shell spokesman Johan Zaayman said the project will help the U.S. meet a critical energy need.”:“Scientists with the National Oceanic and Atmospheric Administration’s fisheries division said the intense temperature changes will kill millions of fish eggs and other organisms” (ShellNews.net) Posted 18 Feb 05

THE WALL STREET JOURNAL: Venezuela’s Tar Oil Attracts Oil Majors Despite Tax Rows: “We’ve been in the country for 90 years, and we’ll be here for another 90 years,” said Sean Rooney, Shell’s new president for Venezuela. He said Venezuela’s heavy oil reserves are too large to ignore, provoking a steady stream of corporate interest.” (ShellNews.net) Posted 18 Feb 05

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