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Royal Dutch Shell News Monday, 28 February 2005

Royal Dutch Shell News Monday, 28 February 2005

The Jakarta Post (Indonesia): Malaysia says Shell oil concession within its waters: “Malaysia on Monday rejected a protest from Indonesia for granting Shell an oil exploration concession in an area claimed by Jakarta, saying the bloc was within Malaysian territory” (ShellNews.net) 28 Feb 05

THE WALL STREET JOURNAL: Malaysia Brushes Off Protest By Indonesia Over Oil Blocks: “Malaysia said Monday it had every right to award oil production contracts to Royal Dutch/Shell Group in two offshore blocks, dismissing protests and claims over the oil field by Indonesia.” (ShellNews.net) 28 Feb 05

THE WALL STREET JOURNAL: Shell and Qatar To Join Forces On LNG Plant: “Shell… has struggled following an energy-accounting scandal last year that wiped out about a third of the company’s booked reserves.” (ShellNews.net) 28 Feb 05

Daily Telegraph (UK: Shell signs up for world’s biggest gas field in Qatar: “The agreement will further strengthen the Anglo-Dutch energy giant’s influence in the global natural gas market, of which it controls 30pc.” (ShellNews.net) 28 Feb 05

FINANCIAL TIMES: Shell signs $7bn gas supply deal with Qatar: “The project, called Qatargas-4, represents a significant boost to Shell as it tries to convince sceptical investors that it can secure new energy reserves to replace the oil and gas it has pumped. Shell was forced to slash its proved reserves five times last year, prompting a wide-ranging shakeup of the company.” (ShellNews.net) 28 Feb 05

THE NEW YORK TIMES: Shell and ExxonMobil in Qatar Deals: “…the Royal Dutch/Shell Group signed a deal to spend as much as $7 billion to develop Qatar’s North Field, which is rich in gas. The deal is expected to yield about 7.8 million tons of liquefied natural gas a year for 25 years. North America and Europe will be the main customers when shipments start, which is expected in 2010 to 2012, Shell said.” (ShellNews.net) 28 Feb 05

Daily Mail (UK): Shell seals £3bn Qatar gas deal: “OIL giant Shell went some way to replenishing its dwindling reserves as it signed a £3bn gas deal with the government of Qatar. The agreement will also help restore a little credibility lost after probably the worst year of upheaval in its 100-year history. The group slashed its reserves estimates five times in a scandal that eventually prompted the departure of three senior executives and sparked moves to merge Shell’s UK and Dutch parent companies.” (ShellNews.net) 28 Feb 05

CBS MarketWatch: Shell, Qatar ink natural gas venture: “The Royal Dutch/Shell Group said Sunday that it has entered into a joint-venture agreement with Qatar to develop a liquefied natural-gas plant.” (ShellNews.net) Posted 28 Feb 05

Business Week: Outlook for oil not so gloomy, study of reserves shows: “Exxon Mobil replaced 83% of its proved reserves, BP 89%, Royal Dutch/Shell an embarrassing 35%…” (ShellNews.net) 27/28 Feb 05

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