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May 7th, 2005:

Libya Govt Gives Go-Ahead For New Energy Auction-Official

THE WALL STREET JOURNAL: Libya Govt Gives Go-Ahead For New Energy Auction-Official

7 May 2005

DOW JONES NEWSWIRES

LONDON — The Libyan government has given the go-ahead for Libya to offer a second oil and gas bidding round to foreign oil majors, a top Libyan oil official said Friday.

Abdulla Salem El-Badri, chairman of the Libyan National Oil Co. (NOI.YY), told Dow Jones Newswires that as part of the latest auction, 26 energy contracts will be awarded Oct. 2 to international oil majors. He said the projects include 44 oil and gas blocks, based both offshore and onshore.

“We are optimistic and hopeful the latest round will be a big success, El-Badri said. read more

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MONEY – INVESTING: High oil price offsets reserve fears

Financial Times: MONEY – INVESTING: High oil price offsets reserve fears

7 May 2005

By James Boxell

Given its travails over the past year and a half, it is surprising that Royal Dutch/Shell has so many fans in the investment community.

The company was forced to cut its level of proven oil and gas reserves, a key measure of an energy group’s underlying health, by a third last year. This led to the acrimonious departure of its three most senior executives, $150m of fines from US and UK stock market regulators and several class action lawsuits.

Shell replaced just one in five of the barrels of oil and gas that it extracted and sold last year, another sign of how poorly the company is doing relative to its peers. 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.