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Shell to end going Dutch and unite

Jun 26th, 2005
by John Donovan.
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THE BUSINESS: Shell to end going Dutch and unite

Sunday 26 June 2005

By: Richard Orange June 26, 2005

THIS Tuesday, Royal Dutch/Shell’s management team go their separate ways. Chairman Jeroen van der Veer is off to The Hague, taking with him refining head Rob Routs and gas chief Linda Cook. Exploration head Malcolm Brinded stays in London, bringing along retiring chairman Lord Oxburgh.

Management might act as one when deciding on what terms to accept for one of the company’s multibillion dollar mega-projects, as the company has always claimed, but each director is subservient to the board of one half or other of the separate listed arms of Royal Dutch Petroleum and Shell Transport and Trading. read more

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Far from a fresh start for Shell

Jun 10th, 2005
by John Donovan.
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ShellNews.net: Royal Dutch Shell plc: Far from a fresh start for Shell

10 June 2005

By Alfred Donovan

The Herald, a Scottish newspaper, published an article today under the headline: “Chastened Shell sets out latest guidelines on oil reserves.”

The following is an extract: “Shell stunned world financial markets in January 2004 when it slashed proven oil and gas reserves, or oil still in the ground, by 20%, the equivalent of 3.9 billion barrels. Further, smaller disclosures followed along with the revelation that the group’s former management had known about the vast overbooking and lied to cover it up.” read more

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Dutch are ready if push comes to squeeze

Jun 4th, 2005
by John Donovan.
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Daily Telegraph: Dutch are ready if push comes to squeeze

4 June 2005

Fancy a Dutch squeeze-out? Such things are common in Holland, and not only on stag weekends in Amsterdam’s Red Light district.

Minority shareholders in Royal Dutch Petroleum who fail to accept the plan to scrap Shell’s arcane dual structure may be about to feel the squeeze. Royal Dutch needs holders of 95pc of its shares to agree to complete the merger with Shell Transport & Trading, which is a tall order for such a widely held stock.

Curiously, the company is unworried. If it falls short, it can mount its Dutch squeeze-out, and force the minority to take cash for their holdings. It can threaten to suspend dividend payments to the recalcitrant few. read more

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We need Dutch courage to compete with the US

Oct 6th, 2004
by John Donovan.
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The Times: We need Dutch courage to compete with the US

“Even the great Dutch firms are looking a bit sickly: Royal Dutch Petroleum, the senior Shell partner, is low in oil and embroiled in scandal…”

European Briefing

By Carl Mortished

October 06, 2004

WHO will be the great Dutch traders of the 21st century? A small and exceedingly wealthy country, the Netherlands has always been about trade, more about buying and selling things than making them. From the early 17th century the Dutch have been roaming the world, finding inexpensive goods and shipping them out or exploiting cheap labour in remote places for a quick profit.

What has happened to the flair, the ruthless eye for commercial advantage? Today, the Netherlands looks rich but tired, its economy is going gently nowhere and unemployment is on the rise. Even the great Dutch firms are looking a bit sickly: Royal Dutch Petroleum, the senior Shell partner, is low in oil and embroiled in scandal, Unilever has been mugged by American competitors while Philips is treading water in a sea of Asian electronics. And KLM? It has been devoured by the French. read more

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Shell Says It Will Sell More Assets, Increase Capital Spending

Sep 22nd, 2004
by John Donovan.
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Bloomberg: Shell Says It Will Sell More Assets, Increase Capital Spending

“The company settled investigations with the SEC and the U.K.’s Financial Services Authority in July. Probes by the U.S. Justice Department, the Dutch securities regulator and the Euronext stock exchange are continuing.”

Sept. 22 (Bloomberg) — Royal Dutch/Shell Group, the world’s third-largest publicly traded oil company, said it plans to sell $10 billion to $12 billion of assets in the next two years to improve profitability while it raises capital spending.

The oil and gas division of Shell, based in London and The Hague, is targeting $5 billion of divestments, dilutions and other transactions during that time, the company said in a statement on PR Newswire.

Shell Chairman Jeroen Van der Veer, 56, wants to restore investor confidence after the company disclosed in January it had wrongly accounted for a fifth of its oil reserves. That led to the ouster of his predecessor and two other top executives and $150 million in fines from U.S. and U.K. regulators. read more

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Shell Transport And Trading Buys Back 2M Shares

Jul 31st, 2004
by John Donovan.
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The Wall Street Journal: Shell Transport And Trading Buys Back 2M Shares read more

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Shell Appoints Citigroup, Rothschild As Financial Advisors

Jul 13th, 2004
by John Donovan.
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The Wall Street Journal: Shell Appoints Citigroup, Rothschild As Financial Advisors

DOW JONES NEWSWIRES

July 13, 2004 7:36 a.m.

Edited Press Release

LONDON — The Royal Dutch/Shell Group of Companies said Tuesday that it has appointed Citigroup and N M Rothschild as financial advisors to the Steering Committee, chaired by Lord Kerr, reviewing Shell ‘s structure and governance.

On June 17, 2004, Shell confirmed that the review, first announced on Mar. 5, 2004, included possible simplification of the management structures of the Boards and the Group; improvements to decision-making processes and accountability and enhancing effective leadership for the Group as a whole. read more

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Shell Weighs End Of Dual Boards As Pressure Rises

Jun 19th, 2004
by John Donovan.
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The Wall Street Journal: Shell Weighs End Of Dual Boards As Pressure Rises

By CHIP CUMMINS

Staff Reporter of THE WALL STREET JOURNAL

June 18, 2004; Page A3

Posted 19 June 04

LONDON — Royal Dutch/Shell Group said it is considering doing away with its nearly century-old, dual-board structure amid mounting pressure from big investors following the Anglo-Dutch oil company’s energy-reserve scandal.

Creating a single, unified board is among a number of options the company said it is considering to simplify its corporate structure. Royal Dutch Petroleum Co. of The Hague and London-based Shell Transport & Trading Co. jointly own Shell’s operating companies, holding 60% and 40%, respectively. The company is run by a committee of managing directors, a group of executives who act as Shell’s top management body. The committee answers to separate boards from each parent company. read more

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Investors ‘to embarrass’ Shell board

Jun 14th, 2004
by John Donovan.
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Financial Times: Investors ‘to embarrass’ Shell board

By Sundeep Tucker in London

Posted 14 June 04

At least six leading investors in Shell Transport & Trading are planning to ask “embarrassing” questions at this month’s annual meeting unless the company provides satisfactory details of its internal review into governance and structure.

The oil group, which is reeling after four reserves downgrades since January and management upheaval, has promised to review its corporate structure.

But shareholders are growing increasingly impatient at the lack of transparency surrounding the process and, unusually, are preparing to vent publicly their frustration at the London meeting on June 28. Royal Dutch Petroleum, Shell’s larger Netherlands-based arm, holds its annual meeting in The Hague on the same day. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Investors ‘to embarrass’ Shell board

Jun 14th, 2004
by John Donovan.
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Financial Times: Investors ‘to embarrass’ Shell board

By Sundeep Tucker in London

Posted 14 June 04

At least six leading investors in Shell Transport & Trading are planning to ask “embarrassing” questions at this month’s annual meeting unless the company provides satisfactory details of its internal review into governance and structure.

The oil group, which is reeling after four reserves downgrades since January and management upheaval, has promised to review its corporate structure.

But shareholders are growing increasingly impatient at the lack of transparency surrounding the process and, unusually, are preparing to vent publicly their frustration at the London meeting on June 28. Royal Dutch Petroleum, Shell’s larger Netherlands-based arm, holds its annual meeting in The Hague on the same day. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

DETERDING BURIAL PLANS

Feb 7th, 1939
by John Donovan.
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DETERDING BURIAL PLANS

Oil Operator’s Body to Be Taken to His German Estate

ST. MORITZ, Switzerland, Feb. 6 (AP).–The family of Sir Henri Deterding gathered at the Swiss villa where he died unexpectedly Saturday to take the body of the 72-year-old Netherlands-born oil operator back to his estate at Dobbin, Mecklenburg, Germany, for burial.

His two sons came from England to join Lady Deterding who, friends said, is expecting the birth of a child next month.

Sir Henri, .who bad a personal fortune estimated at $150,000,000 or more and who retired in 1937 from the director generalship of the Royal Dutch Petroleum Company, also is survived by a daughter by his first marriage and two daughters by his second. His first wife died, the second marriage ended in a divorce and in 1936 he married a 38-year-old secretary. read more

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Dutch Shell Head Dies In Holland

Feb 5th, 1939
by John Donovan.
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SAN ANTONIO EXPRESS Dutch Shell Head Dies In Holland: Sunday 5 February 1939

EXTRACTS

Sir Henri Wilhelm August Deterding was an outstanding figure in world financial affairs because of his role as guiding genius of the great Royal Dutch Petroleum Company, of which he remained a director after retiring from the post of director-general.

He was known as a bitter foe of Soviet Russia and was named at a Moscow trial as having aided in a plot against the Soviet government.

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BIG OILMAN: A Leftist Life of Sir Henri Deterding of Royal Dutch Shell

Jun 12th, 1938
by John Donovan.
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THE GALVESTON DAILY NEWS: BIG OILMAN: A Leftist Life of Sir Henri Deterding of Royal Dutch Shell: SUNDAY, JUNE 12, 1938 Page 19

EXTRACTS

The author believes that the enormous financial and political power wielded by a really big-shot capitalist like Deterding is a very dangerous influence in world affairs – and particularly when such power is used, as Deterding, according to the author, used it in the post-war years to organize the forces of fascism in Europe, to wage an unremitting propaganda campaign against Soviet Russia and to subsidize the nazi movement in Germany. Besides subsidizing the nazis in the hope that Hitler will launch a crusade against Soviet Russia, Deterding, says the author, also admired Mussolini, sides with Franco, has his doubts about democracy, believes that youth should be “disciplined” and all “idlers” shot. read more

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DETERDING AIDS REICH AS WAY TO BAR REDS

Dec 31st, 1936
by John Donovan.
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THE NEW YORK TIMES: DETERDING AIDS REICH AS WAY TO BAR REDS: 31 December 1936

Explains Purpose of Plan to Buy Netherland Food Products for Shipment to Germany.

Wireless to THE NEW YORK TIMES

AMSTERDAM. The Netherlands. 

Dec. 30.–In a statement appearing in the leading newspapers here, Sir Henri Deterding, chairman of the Royal Dutch Petroleum Company explains his plan to purchase about 10,000,000 guilders’ worth of Netherland cattle and agricultural products for the German food supply. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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