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May 28th, 2004:

Shell Says It’s Reviewing Timing of Canada Reserves Revision

Bloomberg.com: Shell Says It’s Reviewing Timing of Canada Reserves Revision

May 28 (Bloomberg) — Royal Dutch/Shell Group, Europe’s second- largest oil company, said it is reviewing the timing of revisions to some proved natural gas reserves in Canada, after cutting its holdings four times this year.

Shell is looking into the timing of the removal from proved reserves from 2000 through 2003 of gas at Canada’s Sable Island field, Shell Transport & Trading Co., Shell’s U.K. parent company, said in its annual report. The amount of gas equals between 100 million to 150 million barrels of oil, Shell said.
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Shell boss missed £2m payout

London Evening Standard: Shell boss missed £2m payout

Steve Hawkes,

28 May 2004

SIR Philip Watts missed out on almost £2m of lucrative stock options* and incentives in his final year at Shell.

But details of a pay-off for the former chairman are notably absent from the oil giant’s mammoth annual report, published today after a 10-week delay.

A spokesman said severance deals for Watts, former exploration chief Walter van de Vijver and finance director Judy Boynton following Shell’s reserves scandal were being thrashed out.

‘It is still a matter of discussion between the boards and the individuals,’ he said. ‘Once final agreement has been reached, we will provide full disclosure.’
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This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Raised Sulfur Levels in Gas Reported

The New York Times: Raised Sulfur Levels in Gas Reported

By THE ASSOCIATED PRESS

Published: May 28, 2004

SARASOTA, Fla. (AP) — A Houston-based oil refinery is asking the Shell and Texaco stations it supplies to stop selling regular and mid-grade gasoline that was shipped through the Port of Tampa or Broward County’s Port Everglades.

Motiva Enterprises says the fuel it provided to about 450 stations might contain too much sulfur, which wouldn’t affect engine performance but could cause faulty gas gauge readings.

“It may show you are full, but in fact you’re on empty,” said Helen Bow, a Motiva spokeswoman.
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This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Tiny SEC Staff Monitors Data on Oil Reserves

The Wall Street Journal: Tiny SEC Staff Monitors Data on Oil Reserves

Amid Lawyers and Accountants,

Two Petroleum Engineers Plumb

The Depths of Corporate Claims

By MICHAEL SCHROEDER

Staff Reporter of THE WALL STREET JOURNAL

Posted 27 May 04 (originally published 12 March 04)

WASHINGTON — Hundreds of lawyers and accountants at the Securities and Exchange Commission scour company annual reports to make sure the numbers add up. But when it comes to double-checking the oil and natural-gas reserves claimed by oil companies in their filings, the job is left to just two staff petroleum engineers.
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This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell Annual Report: Co Vows To Regain Trust Of Shareholders

The Wall Street Journal: Shell Annual Report: Co Vows To Regain Trust Of Shareholders

 

DOW JONES NEWSWIRES

May 28, 2004 3:12 a.m.

 

LONDON — Royal Dutch/Shell Group (RD, SC), humbled by a reserves scandal that saw four top executives dismissed, said in its delayed annual report Friday that “rebuilding credibility” and “regaining trust” would be key priorities going forward.

 

But, it also stressed that its core exploration and production and refining and marketing businesses are in good shape and that the company is engaged in several new development projects that augured well for the future. read more

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

Oiling the machinery of war

The Observer: Oiling the machinery of war

By Eric Watkins
Posted 28 May 2004

The governments of the US and the UK have always insisted that oil had nothing to do with the invasion of Iraq. But few Iraqis are convinced of that, and many have sought to prevent control of their oil by what they call the “occupation authorities”.

Iraqi oil assets are formidable. Industry sources say Iraq contains 115 billion barrels of proven oil reserves, the third largest in the world behind Saudi Arabia and Canada.

But Iraq could have even larger amounts of oil, since only about 10 per cent of the country has been explored. read more

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