Royal Dutch Shell News Wednesday, 20 April 2005

by John Donovan.

Royal Dutch Shell News Wednesday, 20 April 2005

LONDON EVENING STANDARD: SAIC to link up with Shell: “SHANGHAI Automotive Industry Corporation (SAIC), which walked away from rescuing MG Rover, is to form a joint venture with oil giant Shell setting up a car maintenance business across China.” (ShellNews.net) Posted 20 April 05

FINANCIAL TIMES: Fear of fining: “FSA”: “And its fining regime is, if anything, still a little on the light side relative to offences. Royal Dutch/Shell got a £17m fine – four times that of the largest previous one – but that was a long way behind the £66m imposed on the company in the US.” (ShellNews.net) 20 April 05

FINANCIAL TIMES: Index dropped as trust benchmark: “Investor disquiet at the growing concentration of the FTSE All-Share Index was highlighted yesterday when City of London Investment Trust said it was dropping the index as its benchmark.”: “Clearly, much depends on the share price performance of giants such as Shell.” (ShellNews.net) 20 April 05

THE NEW YORK TIMES: Royal Dutch Shell to Sell InterGen Unit: “The energy giant is still trying to focus its operations after the turmoil caused by an energy-reserve accounting scandal last year.” (ShellNews.net) 20 April 05

FINANCIAL TIMES: BASF steps up share buy-back plans: “…the planned disposal of Basell, its 50:50 plastics joint venture with Royal Dutch/ Shell. This is expected to bring BASF and Shell about €1bn each.” (ShellNews.net) 20 April 05

Convenience Store News: Shell Offers Operators a Break on Credit-Card Fees: “According to the company, the temporary relief is not a long-term solution and Shell is actively negotiating with card issuers, such as Visa, MasterCard and American Express, to secure more competitive processing fees.” (ShellNews.net) 20 April 05

London Evening Standard: Merrill sees opportunity in link-up of Shell’s two arms: “Longer-term, Merrill is worried by management’s direction and lack of strategic vision. “Merger and acquisition activity may also feature at some stage in an attempt to address a flat production profile at the end the decade and a lower reserve life than its peers,” says Merrill’s Mark lannotti.” (ShellNews.net) Posted 20 April 05

Canadian Press: Shell sells InterGen unit for US$1.75B to AIG, Ontario Teachers’ Pension Plan: “Royal Dutch/Shell Group of Cos. is selling its InterGen NV power-plant business to the private-equity arms of American International Group Inc. and the Ontario Teachers’ Pension Plan for $1.75 billion US (ShellNews.net) Posted 20 April -05

FINANCIAL TIMES: Shell makes the first move in disposal plan: “It is looking to spend its way back to health after it was forced to cut its proved reserves by a third last year and replaced only one in five of the barrels of oil and gas it extracted.” (ShellNews.net) 20 April 05

THE WALL STREET JOURNAL: Oil Giants Face New Competition For Future Supply (ShellNews.net) Posted 20 April 05

THE WALL STREET JOURNAL: The Petroleum Puzzle Of Business and Politics (ShellNews.net) Posted 20 April 05

THE WALL STREET JOURNAL: Shell to Sell InterGen Utility To Private-Equity Groups: “Shell is also close to agreeing on a buyer for Basell, a chemicals joint venture with BASF AG of Germany, for as much as $7 billion…”: “Shell is working to fulfill a promise made to investors last September to unload as much as $12 billion in businesses by the end of next year to refocus its operations in the wake of its reserves-accounting scandal last year.” (ShellNews.net) Posted 20 April 05

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