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September 21st, 2005:

Shelling out at last

The Times: Shelling out at last

“SHELL’S chief executive, Jeroen van der Veer, should be after the head of whoever was responsible for making him look mean and insensitive when, it now transpires, this could have been avoided.”

Wednesday 21 September 2005

SHELL’S chief executive, Jeroen van der Veer, should be after the head of whoever was responsible for making him look mean and insensitive when, it now transpires, this could have been avoided.

For months Shell contended that it could do nothing to help UK investors in Royal Dutch who were to be saddled with extra tax bills because of the group’s restructuring.

Now, after the majority had accepted their unhappy fate, a remedy has been found. This-is good news for the few who held out, but not good enough for a business that should have its share of clever accountants. 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.

Daily Telegraph: Shell bows to UK investor pressure

Daily Telegraph: Shell bows to UK investor pressure

“Shell yesterday performed an embarrassing U-turn and offered new tax-free merger terms to British investors in Royal Dutch Petroleum:”: “However, Shell is risking the wrath of British shareholders in Royal Dutch who accepted the terms of the deal and have been left with a multi-million pound tax bill. Shell said that it believed it was not “appropriate” to compensate them.”: “I think they realised that they had made a big mistake. I don’t think they thought people would protest.”

Wednesday 21 Sept 2005

By Christopher Hope, Business Correspondent (Filed: 21/09/2005)

Shell yesterday performed an embarrassing U-turn and offered new tax-free merger terms to British investors in Royal Dutch Petroleum who were refusing to agree to the unification with Shell Transport & Trading.

However, Shell is risking the wrath of British shareholders in Royal Dutch who accepted the terms of the deal and have been left with a multi-million pound tax bill. Shell said that it believed it was not “appropriate” to compensate them. 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.

At last Shell oil – but only for the squeaky wheels

Daily Telegraph: At last Shell oil – but only for the squeaky wheels

“…the treatment of the British Royal Dutch holders is one of Shell’s more disappointing episodes and an unwelcome throwback to its old reputation for corporate arrogance.”

Wednesday 21 Sept 2005

Finally some common sense is seeping out from the Shell lubyanka over the fate of British holders in Royal Dutch Petroleum. These were the unfortunate shareholders who were landed with a big tax bill after the oil and gas giant restructured.

Unfortunately, Shell’s tax-free solution comes too late for those unlucky souls who accepted the deal during the summer. Its loan note alternative only helps the noisy minority of Royal Dutch refuseniks who were rich and/or stubborn enough to hold out against the corporate might of Shell. The rest – mostly smaller investors who accepted under threat of a “Dutch squeeze-out” – get nothing. 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.

Nigeria Militants Set Deadline, Threaten Violence

THE NEW YORK TIMES: Nigeria Militants Set Deadline, Threaten Violence

By REUTERS

Published: September 21, 2005

Filed at 9:03 a.m. ET

ABUJA (Reuters) – A Nigerian militant group from the oil-producing Niger Delta threatened on Wednesday to attack government and oil industry facilities if their leader, Mujahid Dokubo-Asari, was not released by 1300 GMT (0900 EDT).

Police said Asari had been arrested over “seditious and treasonable” comments, in which he called for the disintegration of Nigeria, and could face prosecution.

He routinely makes such calls.

Asari was arrested in the oil city of Port Harcourt and flown to the federal capital Abuja on Tuesday. His supporters had threatened to cause “grave mayhem” for the oil industry within 24 hours unless they heard from their leader. 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.

Cairn storms on after Indian field breaches forecasts

Daily Telegraph: Cairn storms on after Indian field breaches forecasts

“Cairn has now found 2.5billion barrels of oil – 1.7billion of which have already been verified by independent consultant DeGolyer & MacNaughton – since January last year.”: “The company has drilled 100 wells – 12 of which have struck black gold – on a field the same size as 12 North Sea blocks. Cairn bought the prospect from Shell for just $7.25m (£4m) in 2002.”

Wednesday 21 Sept 2005

By Christopher Hope, Business Correspondent (Filed: 21/09/2005)

Cairn Energy’s shares gushed through £20 yesterday after the Scottish oil explorer boosted forecast daily production from its key Indian field again and said it was confident of finding more oil there.

Bill Gammell, chief executive, also moved to reassure investors concerned that the Indian government might step into take a bigger chunk of the field in Rajasthan, north-west India.

Cairn said its daily production would be “in excess of 150,000bpd” from the fields, ahead of the previous range of 120,000bpd to 150,000bpd and more than double the 60,000bpd forecast this time last year. 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.

Daily Mail: Shell’s pain is Cairn Energy’s gain

Daily Mail: Shell’s pain is Cairn Energy’s gain

“Canny Scottish operator Cairn bought the Indian fields three years ago for just £4m – from Shell.”

Wednesday 21 Sept 2005

By Ruth Sunderland

SHELL has been forced into a climb down following a row with 400 rebel private investors over the unification of its British and Dutch arms.

The dissident small shareholders had refused an offer from Shell to sell their shares in its former Dutch parent company because it would have landed them with 40pc capital gains tax bills.

The company will now offer a loan note to the rebels which can be exchanged for new shares -therefore avoiding a tax charge.

The UK side of Shell was united with its Netherlands counterpart this summer in a bid to improve transparency in the wake of last year’s oil reserves scandal. 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.

Reuters: Shell may need to pay cash for Sakhalin swap-Gazprom

Reuters: Shell may need to pay cash for Sakhalin swap-Gazprom

“Russian gas giant Gazprom said on Wednesday that Shell might have to pay it cash as part of an asset swap after the oil major doubled the project’s cost estimates in July to $20 billion.”

Wednesday 21 Sept 2005

BEIJING, Sept 21 (Reuters) – Russian gas giant Gazprom (GAZPPE.RTS: Quote, Profile, Research) said on Wednesday that Shell (RDSa.L: Quote, Profile, Research)(RDSa.AS: Quote, Profile, Research) might have to pay it cash as part of an asset swap after the oil major doubled the project’s cost estimates in July to $20 billion.

Gazprom agreed in July to swap a 50 percent stake in its Siberian gas field Zapolyarnoye for a 25 percent stake in the Shell-led Sakhalin-2 liquefied natural gas (LNG) project off Russia’s far east coast. 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.

Royal Dutch Shell offers way out of £77m tax bill

The Times: Royal Dutch Shell offers way out of £77m tax bill

“ROYAL DUTCH SHELL, the newly unified oil and gas group, has moved to appease a small group of disgruntled British shareholders by proposing a way to avoid a £77 million tax bill.”

Wednesday 21 Sept 2005

By Peter Klinger

ROYAL DUTCH SHELL, the newly unified oil and gas group, has moved to appease a small group of disgruntled British shareholders by proposing a way to avoid a £77 million tax bill.

The Anglo-Dutch group said yesterday that it would buy out remaining shareholders in its Royal Dutch arm either with cash or by issuing a loan note. The loan note, particularly applicable to British-based owners of Royal Dutch shares, could be exchanged for new “A” shares in the company without incurring capital gains tax. 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.

Shell offers way out of tax glitch

Financial Times: Shell offers way out of tax glitch

“Royal Dutch Shell has belatedly found a solution to a problem that had created an immediate capital gains tax liability for some of its UK private shareholders.”: “There would be no compensation for shareholders who had already tendered their shares, Shell said.”

Wednesday 21 Sept 2005

By Clay Harris

Published: September 21 2005

Royal Dutch Shell has belatedly found a solution to a problem that had created an immediate capital gains tax liability for some of its UK private shareholders.

UK holders of Royal Dutch, one of the predecessor companies to the unified oil and gas group that was created in July, will now be offered a loan note alternative to the share exchange that was the basis of the original transaction.

That will allow any CGT liability to be deferred, although it comes too late for any investors who have already accepted the original offer. 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.

Shell offers investors deal to avert tax threat

The Independent: Shell offers investors deal to avert tax threat

“The oil giant, Royal Dutch Shell, backed down yesterday in the face of protests…”: “However, the company was still criticised for coming up with the scheme too late to help hundreds of Royal Dutch shareholders who have already agreed to swap their old shares for ones in the new unified company, thereby triggering tax demands averaging £27,000.”

Wednesday 21 Sept 2005

By Michael Harrison, Business Editor

Published: 21 September 2005

The oil giant, Royal Dutch Shell, backed down yesterday in the face of protests over its financial unification from a group of UK private investors by announcing a new arrangement which will avoid them incurring tax bills running into tens of thousands of pounds.

However, the company was still criticised for coming up with the scheme too late to help hundreds of Royal Dutch shareholders who have already agreed to swap their old shares for ones in the new unified company, thereby triggering tax demands averaging £27,000. 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.

US Coast Guard joins huge post-Katrina operation to scoop up oil spills

Lloyds List: US Coast Guard joins huge post-Katrina operation to scoop up oil spills

Biggest operation at Cox Bay on Mississippi River recovers 1m gallons, writes Michael Grey: “More than 1m gallons of oil had also been discharged from Shell’s facility at Pilot Town in the Mississippi Delta, although some 718,000 gallons had been recovered and 105,000 evaporated or naturally dispersed.”

Wednesday Sept 21, 2005

A joint operation between the US Coast Guard and its state and industry partners to contain and recover oil spilt as a result of Hurricane Katrina is said to be making good progress on multiple spills throughout southern Louisiana.

Described as an ‘aggressive’ response under the unified command, the operations have seen skimmers, booms, recovery vehicles and vacuum trucks, along with response boats and other craft deployed at the multiple spills which range from small ones to multi-million gallon incidents. 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.

Royal Dutch Shell moves to round off unification

Stuff.co.nz (New Zealand): Royal Dutch Shell moves to round off unification

“Royal Dutch Shell unified its British and Dutch arms in July in a bid to restore confidence after a damaging reserves overbooking scandal last year…”

Wednesday 21 September 2005

LONDON: Major oil company Royal Dutch Shell has announced plans to buy out remaining shareholders in its old Royal Dutch arm, putting the finishing touches to the unification of its UK and Dutch arms in July.

Royal Dutch Shell, which holds around 98.5 per cent of Royal Dutch following its unification with Britain’s Shell Transport and Trading, said yesterday the minority shareholders would receive cash or, if they prefer and are UK residents, loan notes exchangeable into Royal Dutch A shares. 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.