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Posts on ‘July 9th, 2004’

Shell to boost consultancy team

TheStar.com: Shell to boost consultancy team

“service the Shell group of companies in the Asia-Pacific”

BY K.P. LEE

9 July 04

ROYAL Dutch-Shell plans to double the size of its technical consultancy team in Malaysia by year-end and make the unit its flagship oil and gas consultancy operation in the region that will eventually contribute up to a third of its total global income from this niche business.

Operating as Shell Global Solutions (M) Sdn Bhd, a Multimedia Super Corridor status company based at the Petronas Twin Towers in Kuala Lumpur, the unit has been growing at an exponential rate since it was set up two years ago principally to service the Shell group of companies in the Asia-Pacific but with third-party clients fast catching up to become a major revenue generator. 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 sells 24% of stake in Malaysian refining unit for RM464m

The Star.com: Shell sells 24% of stake in Malaysian refining unit for RM464m

BY YAP LENG KUEN

9 July 04

ROYAL Dutch/Shell group, Europe’s second largest oil company, has sold a 24% stake in its Malaysian oil refining unit Shell Refining Company (FOM) Bhd for RM464.4mil, paving the way for Malaysian investors to own a quality stock in the oil and gas sector.

“The sale was done at RM6.45 per share,” sources told StarBiz. “Demand from an equal balance of local and foreign institutions was so overwhelming that the shares were snapped up within one-and-a-half hours yesterday morning.” 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

The New Zealand Herald: Shell turns down chance for first Iraq oil deal

The New Zealand Herald: Shell turns down chance for first Iraq oil deal

09.07.2004 2.41 pm

BAGHDAD – European oil giant Royal Dutch/Shell has turned down the chance to win the first foreign upstream oil production contract in post-war Iraq, saying the terms on offer from Baghdad’s new interim government were not good enough.

Despite security concerns, Shell told Reuters on Thursday it considered bidding for production work on the billion-barrel Khurmala Dome field in northern Iraq.

“We obtained a copy of the tender but the scope and contract format are not compatible with our aspirations for long-term risk-reward contracts,” a Shell spokesman 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

Shell Sold 24% Of Its Malaysian Refining Company Thursday

The Wall Street Journal: Shell Sold 24% Of Its Malaysian Refining Company Thursday

“dogged for months by a scandal over the accounting of its oil and natural gas reserves”

DOW JONES NEWSWIRES

July 8, 2004 8:55 a.m.

Posted 9 July 04

LONDON — Royal Dutch/Shell Group (RD, SC) Thursday said it sold 72 million ordinary shares, or 24%, of its Malaysian refining business to institutional and private investors for an undisclosed sum.

Commerce International Merchant Bankers handled the sale of Shell Refining Co. BHD (4324.KU) through a bookbuild conducted Thursday, the Anglo-Dutch oil major said in a press release.

Shell Refining Co. was formed in 1960 and was previously 25% publicly held. It runs Malaysia’s biggest manufacturer of petroleum products, the Port Dickson refinery. 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

Calif Senator Challenges Shell’s Efforts To Sell Refinery

The Wall Street Journal: Calif Senator Challenges Shell’s Efforts To Sell Refinery

“Federal Trade Commission confirmed that it has opened a formal antitrust investigation into Shell’s decision to close the refinery”

By BETH HEINSOHN

July 8, 2004 6:03 p.m.

Of DOW JONES NEWSWIRES

NEW YORK — U.S. Senator Dianne Feinstein, D-Calif., has taken a new tack in challenging Royal Dutch/Shell Group (RD,SC) unit Shell Oil’s plan to shut its refinery in Bakersfield, Calif., by questioning whether the company is making sufficient efforts to sell the facility.

Shell ‘s plan to close the 70,000 barrel a day refinery by Oct. 1 is raising fears along the West Coast of a further squeeze on an already tight motor fuels market, where consumers for years have paid the highest prices in the continental U.S. 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

Total Resumes Nigeria Production

The Wall Street Journal: Total Resumes Nigeria Production

“5 Top Jobs To Nigerians: “Similar disputes were simmering Thursday in Shell”

DOW JONES NEWSWIRES

July 8, 2004 3:57 p.m.

LAGOS, Nigeria (AP)–Energy giant Total S.A.’s (TOT) subsidiary said it was pumping oil and gas again Thursday, ending a six-day shutdown over fears that a threatened oil union strike could bring violence.

Elf Nigeria, Total’s subsidiary in Africa’s leading oil-producing nation, agreed to give five top oil-field jobs to Nigerians, unions said, answering their immediate complaint that supervisor positions were going to expatriates.

Production resumed by midday and was expected to return to full capacity within 12 to 24 hours, an Elf Nigeria spokesman 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

S&P: Shell Canada Ltd. Still On Watch Neg

The Wall Street Journal: S&P: Shell Canada Ltd. Still On Watch Neg

“will remain on CreditWatch with negative implications”

DOW JONES NEWSWIRES

July 8, 2004 12:48 p.m.

The following is a press release from Standard & Poor’s:

TORONTO (Standard & Poor’s) July 8, 2004–Standard & Poor’s Ratings Services today said its long-term corporate credit, senior unsecured debt, and global short-term ratings on Shell Canada Ltd. (SHC.T) (AA/Watch Neg/A-1+) will remain on CreditWatch with negative implications following the affirmation on July 8, 2004, of the ratings on Shell Canada’s parent company, Royal Dutch/Shell Group of Companies. 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

Royal Dutch/Shell has sold nearly a quarter of its Malaysian unit for an estimated $123 million

The Times: Need to Know

“Royal Dutch/Shell has sold nearly a quarter of its Malaysian unit for an estimated $123 million”

9 July 04

Royal Dutch/Shell has sold nearly a quarter of its Malaysian unit for an estimated $123 million, a move that analysts see as part of a global revamp aimed at boosting profits.

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

Daily Telegraph: Shell restored

Daily Telegraph: Shell restored

“However S&P affirmed a negative outlook for the oil group”

Standard & Poor’s, the credit agency, has removed Shell from its “creditwatch” status imposed on January 9 when the oil giant revealed that it had “lost” over 20pc of its proven oil and gas reserves. However S&P affirmed a negative outlook for the oil group. Shell shares closed up 1.5 at 398.5p.

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 edges closer to shake-up

Financial Times: Shell edges closer to shake-up

“in the wake of the Anglo-Dutch oil group’s reserves crisis”

By Sundeep Tucker in Rio de Janeiro and Ian Bickerton in,Amsterdam

Jul 09, 2004

Some of the most powerful figures within Royal Dutch/Shell are willing to concede shareholder demands for a unified board and a clearer management structure, according to several people close to the situation.

Such a move would mark the end of a century-old governance structure whose effectiveness has been called into question by investors in the wake of the Anglo-Dutch oil group’s reserves crisis. While observers warn that the company has yet to make a final decision on a governance shake-up, senior insiders are said to favour a move to unite its dual-board structure of Dutch and UK arms, as well as addressing the issue of replacing its management committee with a more conventional structure under a chief executive. 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

S&P raises concerns over Shell review

Financial Times: S&P raises concerns over Shell review

“battered by a scandal”

By Ian Bickerton in Amsterdam

Jul 09, 2004

A leading credit ratings agency yesterday raised concerns over the transparency of an internal structural review being undertaken by Royal Dutch/Shell.

The move echoed the views of some of the oil group’s biggest institutional investors. Standard & Poor’s said it “remains concerned by, notably, a relative lack of transparency regarding the dual ownership review process and the scope of reforms to be implemented” by the Anglo-Dutch group. 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

Shelled out

Financial Times: Shelled out

“If only the executives of Royal Dutch/Shell, under fire over its reserves debacle, could achieve redemption so easily”

Jul 09, 2004

No matter how far they travel, is there no way for corporate governance experts to avoid thinking about Shell?

More than 600 of them have congregated in Rio de Janeiro for the 10th annual International Corporate Governance Network conference. They range from those burdened with the governance brief by their investment institution employers to stock market operators such as Leni Boeren, a director of Euronext.

As well as talking about corporate governance in Latin America and shareholder rights, delegates have been enjoying the sights and sounds of Rio. 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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