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Posts on ‘July 6th, 2004’

Shell unit pays $1.86bn taxes to Nigerian state

Business Report: Shell unit pays $1.86bn taxes to Nigerian state

“Last year Shell reduced part of its production in western Niger Delta, following the escalation of ethnic conflict in the area”

July 6, 2004

Lagos – Shell Petroleum Development (SPD) paid $1.86 billion (R11.41 billion) in taxes to the Nigerian government last year through its Nigerian joint venture, according to media reports.

SPD, Shell’s Nigerian subsidiary, operates a joint venture with state-run Nigerian National Petroleum (NNP), in which NNP holds 55 percent, SPD 30 percent, Total 10 percent and Agip (a unit of Italy’s ENI), 5 percent.

Nigeria’s Guardian newspaper quoted Precious Omuku, SPD’s director of external relations, as saying the partners paid $1.26 billion as petroleum profit tax and $600 million as royalties. Omuku was speaking at the presentation of Shell’s 2003 People and Environment Report in Lagos. 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

ALFRED DONOVAN EMAIL TO THE ENFORCEMENT SECTION OF THE US SECURITIES & EXCHANGE COMMISSION 6 JULY 2004

EMAIL TO THE ENFORCEMENT SECTION OF THE US SECURITIES & EXCHANGE COMMISSION 6 JULY 2004

SUBJECT: SEC INQUIRY INTO ROYAL DUTCH SHELL GROUP, OIL AND GAS RESERVES

RE: LAW SUIT NO. S2-23-41-2004 AMENDED ORDER 29 JUNE 2004: EIGHT ROYAL DUTCH SHELL

COMPANIES OBTAIN A RESTRAINING ORDER AGAINST FORMER SHELL GEOLOGIST DR HUONG YIU TUONG

THIS INFORMATION IS FOR THE SEC TEAM INVESTIGATING THE RECATEGORISATION OF RESERVES BY ROYAL DUTCH SHELL GROUP

I am writing to bring to your attention the fact that eight Shell companies including a Shell Exploration & Production company, have issued a High Court Writ/Restraining Order in Malaysia to silence a former Shell geologist of almost 30 years standing, Dr John Huong, a Malaysian national. 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

IEA to push for global standards on reserves

Financial Times: IEA to push for global standards on reserves: “fall-out from the Royal Dutch/Shell Group’s slashing of its oil reserves”

By Kevin Morrison in London

Published: July 5 2004 5:00 | Last Updated: July 5 2004 5:00

Posted 6 July 04

The International Energy Agency is planning to unveil plans in October that it hopes will lead to a mandatory global standard for accounting of oil and gas reserves.

Controversial rules on oil industry reserves amid the fall-out from the Royal Dutch/Shell Group’s slashing of its oil reserves by 20 per cent this year has raised the need for harmonising standards.

The controversy stems from the interpretation of the reserve rules adopted by the US Securities and Exchange Commission, which the oil industry has criticised for being vague and out of date. 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 director was told of reserve woes: ‘a Shakespearian drama’

Financial Times: Shell director was told of reserve woes: ‘a Shakespearian drama’

By Ian Bickerton in Amsterdam

Published: July 5 2004 17:59 | Last Updated: July 5 2004 17:59

Posted 6 July 04

The controversy over internal communications at Royal Dutch/Shell intensified after its most senior non-executive admitted it was “not easy” to corroborate information he received from the group’s directors.

The frank admission by Aad Jacobs fuels speculation about the prior knowledge of directors and officers before a crisis erupted about the state of the Anglo-Dutch company’s oil reserves. Mr Jacobs, chairman of the supervisory board of the group’s dominant Dutch arm last week told shareholders that Walter van der Vijver, then head of the exploration and production division, had mentioned “a problem with reserves” at a lunch last November. 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

Saudis to Buy Up to 14.95% of Showa Shell’s Shares

Bloomberg: Saudis to Buy Up to 14.95% of Showa Shell’s Shares

Posted 6 July 04

July 5 (Bloomberg) — Saudi Aramco, the state oil company of Saudi Arabia, agreed to buy as much as 14.95 percent of Royal Dutch/Shell Group’s Japanese refiner, a stake valued at $503 million, seeking to ensure orders from Asia’s second-biggest market for crude oil.

The world’s biggest oil company by output will sell Showa Shell Sekiyu K.K. at least 300,000 barrels a day of crude oil, said HSBC Holdings Plc, which advised Aramco. It shipped 43 percent of its 6.5 million barrels a day of oil exports to the Far East last year, HSBC 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
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