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Royal Dutch Shell News Tuesday, 5 April 2005

Royal Dutch Shell News Tuesday, 5 April 2005

Accountancy Age: Firms pocket millions for Shell work: “Oil company Shell pays record-breaking amount for audit work during one of the most controversial periods in its history.”: “KPMG and PwC pocketed $70m (£37m) for their work with Shell during its troubled last 12 months, according to the oil company’s latest filing with the SEC.”: “During the last year Shell suffered its oil reserves scandals, overstating the number of barrels of oil it held in reserves by billions…” (ShellNews.net) Posted 5 April 05

AccountancyAge.com: £1m bonus for Shell boss despite reserves fiasco: “Shell’s 2004 reserves debacle fails to stop its CEO receiving a £1m bonus.”: “The SEC discovered that Van der Veer, who replaced Sir Philip, and whose basic salary is uro 1.28m, also received a deferred bonus in 2004 of euro 267,460 as well as an additional 150,000 stock options.” (ShellNews.net) Posted 5 April 05

Irish Times: Court orders Mayo farmers not to obstruct Shell pipeline: “Six Mayo landowners were restrained by High Court orders yesterday from interfering with the laying by Shell E&P Ireland Ltd of a gas pipeline across their lands. The interlocutory injunctions will continue until the full hearing of proceedings brought by Shell against the six, or until a further order of the court.” (ShellNews.net) 5 April 05

Irish Independent: Judge restrains residents in pipeline dispute: “The interlocutory injunctions will continue until the hearing of the action brought by Shell against the six or until further order of the court.” (ShellNews.net) 5 April 05

THE WALL STREET JOURNAL: Chevron, Exxon, Shell Reach Pact On LNG Project (ShellNews.net) 5 April 05

AFX Europe (Focus): ChevronTexaco, Exxon, Royal Dutch agree Australia gasfield development – report (ShellNews.net) 5 April 05

AFX Europe (Focus): Australia’s Woodside confirms gas find off northwest coast: “Woodside, which is about one-third owned by Shell…” (ShellNews.net) 5 April 05

FINANCIAL TIMES: Unocal deal fuels consolidation debate: “…Royal Dutch/Shell has been linked repeatedly with a bid for BG, as it looks to recover from the scandal that forced it to cut its proved reserves by almost one-third last year and part company with its three most senior executives” (ShellNews.net) 5 April 05

FINANCIAL TIMES: In search of room to grow: “BP and Shell are respectively the biggest and second-largest holdings in the fund and jointly account for more than 10 per cent of the portfolio, or more than £40m worth of assets. “They offer strong cashflow and very good dividend growth,” says Mr Nutt, who has managed the fund since it launched in January 1996.” (ShellNews.net) 5 April 05

Business Standard (India): Shell India to get first LNG cargo soon (ShellNews.net) 5 April 05

London Evening Standard: BG set to bid in £1.7bn First Calgary: “News of its interest comes amid renewed speculation that BG Group may itself be a takeover target for the big guns in the industry, most notably Shell…” (ShellNews.net) 5 April 05

Stuff.co.nz (New Zealand): Shell has at least four Intergen offers – sources: “Shell is selling Intergen as part of a $US12 billion divestment programme that seeks to refocus the company’s operations and rebuild investor confidence after a damaging oil reserves over-booking scandal last year” (ShellNews.net) 5 April 2005

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