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Royal Dutch Shell News Thursday, 31 March 2005

Royal Dutch Shell News Thursday, 31 March 2005

CNN: Shell pumps twice as much as it finds (ShellNews.net) 31 March 05

Friends of the Earth: Shell’s new Sakhalin II pipeline route still puts whales at risk (ShellNews.net) 31 March 05

THE SCOTSMAN: Inquiry call as Shell admits safety breach in which two died: “Shell admitted the amended charges at Stonehaven Sheriff Court yesterday.”: “A spokesman said the firm had pleaded guilty to three amended charges under the Health and Safety at Work Act in relation to the incident. He said the company could not give out any further details as legal proceedings were ongoing.” (ShellNews.net) 31 March 05

THE SCOTSMAN: Shell Confirms Position on Reserves: “Oil giant Shell revealed the extent of its declining reserves today after replacing only 19% of the oil that was pumped out of the ground in 2004.” (ShellNews.net) 31 March 05

Business Week: Shell reveals reserves fell last year: “The Royal Dutch/Shell Group of Cos., still recovering from a scandal that forced it to drastically reduce the level of its proven reserves, revealed Thursday that its oil and gas reserves fell by a further billion barrels last year.” (ShellNews.net) 31 March

LONDON EVENING STANDARD: Shell denies Improper deals’ sacking report(ShellNews.net) 31 March 05

London Evening Standard: Shell reveals new fall in reserves: “OIL AND gas reserves have fallen by a further billion barrels at Anglo-Dutch giant Shell…”: “Shell today published a mammoth 264-page document filed with US regulators which confirms what analysts feared – the group replaced only 19% of its production last year with new fields.” (ShellNews.net) 31 March 05

THE WALL STREET JOURNAL: Shell Lent Former Directors $12M For Legal Costs In 04: “Royal Dutch/Shell said in a filing released Thursday it was in settlement talks on some of the class action litigation unleashed after it was forced to reclassify its oil reserves” (ShellNews.net) 31 March 05

Forbes: Shell Reports 11.9 Billion-Barrel Reserves: “Shell, which paid US$150 million in fines to British and U.S. regulators over the reserves scandal, also said its reserve replacement ratio – or how much oil it replaces for that pulled from the ground – was 19 percent for 2004…”: “Rivals such as Britain’s BP PLC and U.S. giant Exxon Mobil Corp. have reserves replacement ratios of more than 100 percent.” (ShellNews.net) 31 March 05

THE WALL STREET JOURNAL: Shell Says Reserve Replacement Ratio Was 49% In 04: “In addition, with the filing of the 2004 annual report on Form 20-F, Shell said it remains on schedule with the timetable for the proposals to shareholders for the unification of the Royal Dutch/Shell Group of Companies under a single parent company, Royal Dutch Shell plc.” (ShellNews.net) 31 March 05

FT.com: London climbs as Shell reiterates targets: “Back in London, shares in Shell were 1.1 per cent higher at 481p after the Anglo Dutch oil giant reiterated its target to replace 100 per cent of the oil it intends to pump between 2004 and 2008 with proven reserves of fresh supplies.” (ShellNews.net) 31 March 05

The Guardian: Shell reroutes Sakhalin pipeline to avoid feeding ground: “Shell has admitted the need to move the route of Sakhalin II, but unless it moves the oil platform, the future of the western grey whale is still in jeopardy,” said Nick Rau, Friends of the Earth’s oil campaigner.” (ShellNews.net) 31 March 05

AFX Europe (Focus): Royal Dutch/Shell says 2004 net income was 18.2 bln usd under US GAAP rules: “The group also said its Reserve Replacement Ratio (RRR), excluding the impact of divestments and year-end pricing and including associates, was 49 pct, within the 45-55 pct range provided on Feb 3.” (ShellNews.net) 31 March 05

Daily Telegraph (UK): Shell reroutes pipelines for rare whales: “Environmentalist groups attacked the decision, saying that moving the pipeline would not be enough to safeguard the whales.” (ShellNews.net) 31 March 05

THE INDEPENDENT (UK): Shell changes oil pipe route to avoid endangered whales: “But Friends of the Earth said the proposed location of the drilling platform was too close to the feeding ground and would disrupt the western grey whales.” (ShellNews.net) 31 March 05

THE LONDON TIMES: What it’s like working for … Shell?: Working at the oil giant can be pressured and tough, but hard work buys goodwill and flexibility (ShellNews.net) March 31, 2005

THE WALL STREET JOURNAL: UPDATE: US DOE Secy Sees No Quick Answer To High Oil Prices: “…Shell Hydrogen LLC will set up five hydrogen-refueling stations in Washington, New York, California and along the Eastern seaboard.”  (ShellNews.net) Posted 31 March 05

THE WALL STREET JOURNAL: Nigerian Oil Strike Threat Only A Whimper: “Nigeria’s oil unions – which once sent world oil prices soaring with the mere threat of a strike – now admit they muster at best only feeble resistance to the oil companies.” (ShellNews.net) Posted 31 March 05

newratings.com: Shell Finances Not Hit By Whale Diversion (ShellNews.net) Posted 31 March 05

Daily Express (Sabah, Malaysia) Results alone are no guarantee: Shell MD: “Profitability and high returns to stakeholders are among the distinguishing characteristics of high performing companies but results alone are insufficient to maintain a high performance culture, said Chairman of Shell Companies in Malaysia Datuk Jon Chadwick” (ShellNews.net) Posted 31 March 05

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