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.
In a letter to Lynn Laverty Elsenhans, president and chief executive of Shell Oil Products U.S., Feinstein questioned the executive’s assertion in a telephone call that Shell would prefer to sell the refinery rather than close it.
Feinstein asserted Shell hasn’t created a “data room” accessible to potential buyers, never offered the assets for sale, hasn’t prepared a prospectus or offering document, and hasn’t engaged an investment banker to negotiate a sale.
“I understand that there are several willing buyers out there for the Bakersfield refinery,” Feinstein wrote in the July 7 letter. “Yet, I have heard that Shell has not made a good faith effort to sell the refinery.”
Company spokesman Stan Mays declined to comment on the letter’s specific allegations, but defended Shell ‘s efforts as an “active sales process.”
“There are many different ways you can sell a refinery,” Mays said. “We recently sold the Delaware City refinery without any broker. We have in-house talent for that.”
That refinery, previously owned by Motiva, a joint venture between Shell and Saudi Aramco (SOI.YY), was sold to Premcor Inc. (PCO) in May.
Shell has received a total of 28 inquiries regarding the possible purchase of the Bakersfield refinery, Mays said. Six have progressed to the point where confidentiality agreements have been signed, but to date there has been no agreement to sell the facility.
The Bakersfield refinery represents 2% of California’s total current gasoline production and 6% of its diesel production, California Energy Commission spokeswoman Suzanne Garfield said.
Wednesday, the U.S. Federal Trade Commission confirmed that it has opened a formal antitrust investigation into Shell’s decision to close the refinery.
-By Beth Heinsohn, Dow Jones Newswires; 201-938-4435; [email protected]
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 conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
