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Royal Dutch Shell News Saturday, 2 April 2005

Royal Dutch Shell News Saturday, 2 April 2005

FINANCIAL TIMES: Conchology: “Shell Transport and Trading, the UK arm of the Anglo-Dutch oil and gas group, last year chose Rhysota as the shell to feature on the cover of its annual report. Its elegant transparency was perhaps intended to signal the company’s new openness after the reserves debacle. Unfortunately, as we noted at the time, the image also resembled liquid going down a plughole.” (ShellNews.net) 2 April 05

FINANCIAL TIMES: Ground water lawsuits warning: “Royal Dutch/Shell warned that US lawsuits linked to alleged contamination of ground water could have a “significant impact” on future results if successful.” (ShellNews.net) 2 April 05

DAILY TELEGRAPH (UK): THE WEEK THAT WAS: “Shell has lent $12m (£6.3m) for legal representation to former directors who may get caught up in the oil reserves scandal. It also says that it had replaced only 49pc of the oil it extracted last year” (ShellNews.net) 2 April 05

THE LONDON TIMES: “It emerges that Jeroen van der Veer, chief executive of Shell, was paid a bonus of €1.35 million (£927,000) last year, almost doubling his total earnings to €2.6 million. It comes after a year in which the oil giant lost billions of barrels of oil.” (ShellNews.net) 2 April 05

LONDON TIMES: One cockroach means more…: “I am holding BG Group, ENI, Premier Oil, Schlumberger, and yes, also Shell, which is on its mettle to replace depleted reserves and to retrieve its reputation as a solid — as opposed to stodgy — powerhouse with a strong recovery potential.” (ShellNews.net) 2 April 05

IPE.com: ABP expects compensation from Shell: “Stichting Pensioenfonds ABP, the largest Dutch fund, expects it could receive compensation from Shell following US legal action relating to the oil giant’s overstatement of its reserves. “We are following the developments,” said a scheme spokesman. “ABP expects that it can rely upon the fact that if a settlement is reached in the US, European investors also will be compensated.” (ShellNews.net) Posted 2 April 05

DAILY EXPRESS (UK): Shell’s oil reserves drop extra Ibn barrels: “The company said it was aiming to settle one of the civil class action lawsuits resulting from the scandal. But it is still facing another class action and a criminal investigation from the US Department of Justice. (ShellNews.net) Posted 2 April 05

PetroleumNews.com: Shell dominates: Spends $44.4 million in $46.7 million Beaufort sale with 86 winning bids: “Shell has said for some time that it is interested in Alaska, and the company put its money on the table March 30 in Anchorage…” (ShellNews.net) 2 April 05

news-miner.com: Shell dominates Beaufort lease sale: “Shell Oil Co. dominated a federal offshore lease sale in Alaska that tallied $46.7 million in winning bids” (ShellNews.net) 2 April 05

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