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Shell news 29 October 2005

THE WALL STREET JOURNAL: Backlash Spreads As Profits Surge At Oil Companies: “Exxon, Shell Net $19 Billion, Fueling Calls for Profit Tax, Efforts to Boost Stockpiles”: “If there are those who abuse the free enterprise system to advantage themselves and their businesses at the expense of all Americans, they ought to be exposed, and they ought to be ashamed,”: Posted Saturday 29 October 2005: READ

Financial Times: Volcker report implicates big oil companies in oil-for-food scandal: “Well-known international oil companies used traders to distance themselves from the illegal surcharges being paid under the United Nations oil-for-food deal in Iraq, the final Volcker report has concluded.”: “BP of the UK, Anglo/Dutch Royal Dutch Shell, Total of France, and Spain’s Repsol were all named as examples of “established oil companies” involved in the oil-for-food programme before surcharges began in 2001.”: Saturday 29 October 2005: READ

Financial Times: Oil and gas industry fears Brown’s efforts to fuel his revenue: “Industry speculation that Gordon Brown, the chancellor, could raise taxes on oil and natural gas companies this autumn intensified this week after a 68 per cent increase in third-quarter profits for Shell and a 27 per cent rise for BP.”: Saturday 29 October 2005: READ

Financial Times: Chevron feels the force of hurricanes: “…storm brewing in Washington over profiting by the major oil and gas companies at the expense of consumers. This marked a week of record profits by Exxon, Royal Dutch Shell and others at a time when lawmakers are floating punitive measures, such as a windfall-profit tax for the companies.”: Saturday 29 October 2005: READ

The New York Times: Oil Steady at $61 as Cold Approaches: “A strike threat at Europe’s largest refinery could further strain a stretched global refining system. Workers at Shell’s 418,000-bpd Pernis plant in Rotterdam threatened to walk out on Monday in a dispute over pensions.“: Posted Saturday 29 October 2005: READ

The New York Times: Profits Likely Won’t Mean New Refineries: ‘A surplus of supply is not good for the industry,” Shell Oil Co. president John Hofmeister said in an interview on Friday. ”Just as a surplus of demand is not good for industry. We strive for balance.” Hofmeister, speaking by phone from his corporate jet upon leaving Washington…”: Posted Saturday 29 October 2005: READ

Irish Times: Dempsey set to name Corrib mediator: “Minister for the Marine Noel Dempsey is due to nominate a mediator over the weekend to chair negotiations between Shell E&P Ireland and opponents of the Corrib gas onshore pipeline in north Mayo.”: Saturday 29 October 2005: READ

Ireland On-Line: Minister: Shell to continue dismantling part of Corrib pipeline: Posted Saturday 29 October 2005: READ

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