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Tarnished Shell seeks to be born again

From our October 2004 Shell News Archive

The Independent On Sunday (UK): Tarnished Shell seeks to be born again

Tim Webb on the oil giant’s attempts to put scandal behind it and give itself a facelift: “Shell directors have spent the last year reading the newspapers about how bad they are,” he says. “The last thing they want to read is that they have failed again.”

24 October 2004

Shell is expected to outdo its rival, BP, when it announces higher third- quarter earnings this week. In fact, it has already earned more than BP this year, which isn’t bad for such a “troubled” company.

It underlines the fact that the Anglo-Dutch company has continued to perform financially despite spending most of the year mired in controversy. This is the same Shell which in the past six months has seen its chairman, exploration chief and finance director leave after a fifth of its proven oil and gas reserves were found to be wrongly booked. And it is the same company whose new chairman, Jeroen van der Veer, vowed last month at its annual strategy meeting: “Much more needs to be done. We are driving Shell to be a different company.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

BASF, Shell Chemicals Wrap Up Basell Sale

FORBES: BASF, Shell Chemicals Wrap Up Basell Sale

“BASF AG and Royal Dutch Shell PLC said Monday they had completed a deal to sell their Basell NV plastics joint venture in a euro4.4 billion (US$5.32 billion) deal…”

Monday 1 August 2005

BASF AG and Royal Dutch Shell PLC said Monday they had completed a deal to sell their Basell NV plastics joint venture in a euro4.4 billion (US$5.32 billion) deal to Nell Acquisition, part of privately held Access Industries.

The deal, announced in May, received regulatory approval in Europe and the United States. The Chatterjee Group, a private investment group, had been part of the deal to buy the business but pulled out last month.

Basell was formed as a joint venture in 2000 so that Shell Chemicals and BASF could consolidate their polyolefins businesses across the world and announced plans to review its options in 2004. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

THE WALL STREET JOURNAL: Shell, BASF Sell Plastics Venture To Consortium for $5.7 Billion

THE WALL STREET JOURNAL: Shell, BASF Sell Plastics Venture To Consortium for $5.7 Billion 

6 May 2005

A WALL STREET JOURNAL ONLINE NEWS ROUNDUP

LONDON — Royal Dutch/Shell Group and BASF AG of Germany agreed to sell their joint plastics venture — a giant manufacturer of basic materials used in everything from diapers to auto parts — to a consortium led by New York-based Access Industries and Chatterjee Group of India for €4.4 billion ($5.7 billion), including debt.

The transaction is subject to approval by regulators and is expected to close in the second half of 2005. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

The Guardian: Shell sells plastics unit to Russian billionaire

The Guardian: Shell sells plastics unit to Russian billionaire

CHARLOTTE MOORE

May 06, 2005

Shell yesterday sold its plastics business for euros 4.4bn (pounds 3bn), appearing to bow to American pressure against selling the group to Iran.

Basell, the world’s largest producer of plastic polypropylene, is owned 50-50 by Shell and Germany’s BASF. The consortium buying the plastics manufacturer is headed by Access Industries and includes Chatterjee Group, a United States-based investment company with a presence in India.

Access Industries is run by Leonard Blavatnik, a Russian-born billionaire who made his fortune in the oil industry. Blavatnik once outbid Roman Abramovich by paying pounds 41m for a house in Kensington Park Gardens, London. “I’m very pleased we are the successful bidder for Basell. We believe Basell is an attractively positioned global business with an excellent future,” he said. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

US ‘forced’ Shell and BASF to reject bid from Iran

THE TIMES: US ‘forced’ Shell and BASF to reject bid from Iran

5 May 2005

By Carl Mortished, International Business Editor

SHELL and BASF succumbed to pressure from Washington when they turned down a €4.4 billion (£3 billion) Iranian bid for Basell, their chemicals joint venture, said the managing director of Iran’s National Petrochemical Company (NPC).

Mohammed Reza Nematzadeh blamed the decision by Shell and BASF not to proceed with the offer on intense lobbying by US officials anxious to keep up the pressure on Iran to drop its nuclear fuel programme. “Although NPC won all aspects of the Basell tender, due to US pressures we are unofficially told Iran cannot buy Basell,” Mr Nematzadeh told ISNA , the Iranian news agency. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Access close to €4bn deal for Basell

Financial Times: Access close to €4bn deal for Basell

By Lina Saigol and James Boxell in London and Najmeh Bozorgmehr,in Tehran

Published: May 5 2005

Access Industries, the private equity group controlled by Leonard Blavatnik, the Russian billionaire, is close to acquiring Basell in a deal that could value the plastics group at up to €4bn ($5.2bn).

Access, which has teamed up with Haldia Petrochemicals of India, was last night finalising the details of the deal, which could be announced as early as today.

Basell is owned jointly by Royal Dutch/Shell, the Anglo-Dutch energy group, and BASF, the German chemicals company. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

ExpressIndia.com: Iran says expects to win bid to buy Basell

ExpressIndia.com: Iran says expects to win bid to buy Basell

Reuters

Sunday, May 01, 2005

Tehran, May 1: Iran said it was better-placed to buy polymer joint venture Basell than its Indian rivals and expects to be the final winner in the sale process, the semi-official ISNA news agency reported on Saturday.  

BASF and Shell are set to decide within days on the sale of Basell to Iran’s National Petrochemical Company (NPC) or to a set of Indian investors.

If successful, it would be the biggest commercial investment abroad by Iran since the 1979 Islamic revolution. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Tarnished Shell seeks to be born again

From our October 2004 Shell News Archive

The Independent On Sunday (UK): Tarnished Shell seeks to be born again

Tim Webb on the oil giant’s attempts to put scandal behind it and give itself a facelift: “Shell directors have spent the last year reading the newspapers about how bad they are,” he says. “The last thing they want to read is that they have failed again.”

24 October 2004

Shell is expected to outdo its rival, BP, when it announces higher third- quarter earnings this week. In fact, it has already earned more than BP this year, which isn’t bad for such a “troubled” company.

It underlines the fact that the Anglo-Dutch company has continued to perform financially despite spending most of the year mired in controversy. This is the same Shell which in the past six months has seen its chairman, exploration chief and finance director leave after a fifth of its proven oil and gas reserves were found to be wrongly booked. And it is the same company whose new chairman, Jeroen van der Veer, vowed last month at its annual strategy meeting: “Much more needs to be done. We are driving Shell to be a different company.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell sale poised to set record

The Independent: Shell sale poised to set record

“Analysts say that Shell would use the proceeds to invest in its upstream operations, in particular to boost its flagging oil and gas reserves.”

12 September 2004

Private equity firms ready to splash out for €6bn plastics venture. Tim Webb reports

The sale by Shell and BASF of their €6bn (£4.1bn) plastics joint venture is set to turn into Europe’s largest private equity deal to date.

Bankers expect private equity groups to figure prominently in the auction for Basell. The sale, one of the biggest ever seen in the chemicals industry, is being formally launched this week. Trade buyers could face competition issues, making a private equity buyout more likely, industry sources said. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

BASF warns of research transfer abroad if GMO law amendment goes ahead

Die Welt – Germany: BASF warns of research transfer abroad if GMO law amendment goes ahead

“BASF, the German chemicals giant, is hoping to sell off Basell, its joint venture with the Anglo-Dutch oil group Shell, and to complete the transaction in the first half of 2005.”

Sep 03, 2004

BASF, the German chemicals giant, is hoping to sell off Basell, its joint venture with the Anglo-Dutch oil group Shell, and to complete the transaction in the first half of 2005.

Basell manufactures preliminary products for plastics, and is valued at around 6bn euros. Options for the sale include the stock market, an acquisition by a rival company or by an investment group.

The management of BASF is threatening to transfer its genetic technology research activities abroad if the planned amendment to legislation regarding genetically modified plants is introduced in Germany, although a short-term decision regarding a transfer is not planned. The amendment would establish strict liability regulations, a register of sites and growing standards for the cultivation of genetically modified plants in the vicinity of GMO-free crops. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Oil companies unravel chemical elements

Financial Times: Oil companies unravel chemical elements

By David Firn and Carola Hoyos

Published: August 6 2004 04:00

Posted 7 August 04

Three of the world’s four largest oil companies are divesting big chunks of their chemicals businesses. BP, Royal Dutch/Shell and Total have all begun the process of carving out non-core chemicals activities in a move that signals a tighter focus on upstream operations.

Shell is furthest ahead. Its polyolefins business, which makes basic ingredients for plastics, is combined in the Basell joint venture with those of BASF, the German chemicals group. After several years of restructuring, the assets are up for sale. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

BASF and Shell set to sell chemicals venture for €6bn

Financial Times: BASF and Shell set to sell chemicals venture for €6bn

By David Firn, Pharmaceuticals and Chemicals Correspondent

Published: August 6 2004 04:00

Posted 7 August 04

BASF and Shell will put their Basell petrochemicals joint venture up for sale later this month, in what is expected to be one of the biggest chemicals auctions to date. Basell, which makes polyolefins – the building blocks for many plastics – is valued at up to €6bn (£4bn).

The potential sale of Basell is one of several transactions planned in the oil industry as BP and Total also take advantage of the upturn in commodity chemicals to sell non-core assets. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Rescued by fuel sales and refining

Financial Times: Rescued by fuel sales and refining

“fails to mask the problems in Shell’s basic business of finding and producing oil.”

By James Boxell

Jul 30, 2004

Shell is reaping the benefits, like its international peers, of record oil prices as demonstrated by net adjusted earnings of $3.8bn (£2.1bn) in the second quarter of 2004.

This is 16 per cent higher than the same period last year but it fails to mask the problems in Shell’s basic business of finding and producing oil.

As Richard Rose, analyst at Oriel Securities, put it: “Their downstream business managed to get the upstream (exploration and production) business off the hook.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com
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