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Posts on ‘July 25th, 2004’

The Business: Oil companies face hard drill in Kazakhstan

The Business: Oil companies face hard drill in Kazakhstan

By Richard Orange

25 July 04

FOR the hardened oil diplomats and country experts in BG Group’s offices in Almaty, Kazakhstan, last week’s visit by the local tax police, charging the UK gas firm with illegally smuggling $2.7bn (£1.5bn, €2.2bn) worth of gas across to Russia was just business as usual. But it is also yet another sign of the toughening business climate.

BG rejects the charges, saying that it has followed the letter of the law in the way it has exported gas liquids from the field it operates in Karachaganak to be processed at Orenburg in Russia. But following the law may not be enough. 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’s interim results following the reserves debacle

The Business: Broker fears dividend may be a problem

THERE is a sense of nervous expectation ahead of Royal Dutch Shell’s interim results following the reserves debacle”

25 July 04

THERE is a sense of nervous expectation ahead of Royal Dutch Shell’s interim results following the reserves debacle, which led to former chairman Sir Philip Watts being ousted earlier this year.

Goldman Sachs’ Matthew Lanstone has maintained an “in line” rating for Europe’s second-largest oil company. While attention has focused on corporate governance and the Anglo-Dutch company’s unwieldy dual board structure, Lanstone’s main concern is the dividend. He said: “Maintaining a local currency real dividend growth policy increasingly looks a stretch for Royal Dutch Shell. On our estimates the dividend payout ratio will rise to 80% for Shell… in 2006.” 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

Reserves restatement debacle

London Evening Standard: Companies reporting next week

“The high oil price should also help the new management at Shell direct attention away from this year’s reserves restatement debacle”

23 July 2004

Posted 25 July 04

HEAVYWEIGHTS Vodafone, BP and Shell step into the spotlight in one of the busiest corporate weeks of the year.

Joining the mobile phone and oil giants in next week’s diary are Europe’s biggest drugmaker GlaxoSmithKline, telecoms group BT and four of the UK’s biggest banks. In all, some 33 companies are due to report results or issue trading updates, representing just over a 50% weighting in the FTSE 100 share index.

On Monday, Vodafone is expected to post strong customer growth when it releases key performance indicators for the first quarter. But as a muted reaction to better-than-expected growth from smaller rival mmO2 this week showed, investors will also want reassurance that industry competition is not stiffening. 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 oil giants’ scorecard

London Evening Standard: The oil giants’ scorecard

“How they add up: BP 66, Shell 49”: “Shell: Desperately needs to find more oil after the reserves debacle”: “Bonuses for the executive team for 2003 were scrapped in the light of the reserves scandal”

Steve Hawkes,

23 July 2004

Posted 25 July 04

HOW the two big players compare – check the scores on a range of indicators from assets to the environment.

Strategy

BP: Lord Browne has thrown BP’s exploration focus on to five new profit centres, Caspian Sea, Trinidad, Angola, Gulf of Mexico and Asian gas, as a new foundation for growth. Plans to sell off half its underperforming petrochemicals arm. Has lucrative petrol station ventures in China.

Score: 8

Shell: Desperately needs to find more oil after the reserves debacle and is now pinning its hopes on far-flung frontiers such as deepwater Brazil while staying loyal to its heartlands, such as the North Sea. The biggest private provider of liquefied natural gas in the world. 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’s reputation among investors lies in tatters

London Evening Standard: How BP lords it over Shell “looking ahead, one is in terrific shape, the other could be in terrible trouble”: “Shell’s reputation among investors lies in tatters”

Steve Hawkes,

23 July 2004

Posted 25 July 04

AT FIRST glance, Shell and BP will appear to be running neck and neck when they post second-quarter results next week. The announcements should see both oil majors breaking the $4bn (£2.2bn) profits barrier by some distance. Making that sort of return from just three months’ business might indicate the two fierce rivals are in the rudest of health.

But the surpluses from past work do not tell the full tale of these two companies: looking ahead, one is in terrific shape, the other could be in terrible trouble. 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, the oil-and-gas group that has been rocked by write-downs

The Sunday Times: “Shell, the oil-and-gas group that has been rocked by write-downs and management turmoil unveils its bumper second-quarter figures on Thursday”

July 25, 2004

It is a busy week for corporate reporting. Shell, the oil-and-gas group that has been rocked by write-downs and management turmoil, unveils its bumper second-quarter figures on Thursday.

Rival BP reports for the same trading period, with analysts expecting pre-tax profits in the region of $4 billion.

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

City seeks assurance from FTSE big hitters as recovery falters

The Independent: The Week Ahead: City seeks assurance from FTSE big hitters as recovery falters

“The Anglo-Dutch giant is expected to announce a fall in production for the first half of anything between 2 and 9 per cent”

Edited by Tim Webb

25 July 2004

Some of the leading lights of British corporate life will use the last week of July to get their interim reporting out before the City empties for August.

The UK’s largest banking, insurance, media, oil and pharmaceutical companies all feature. With their statements coming a week after the Footsie slumped to an eight-month low over concerns about the sustainability of the global economic recovery, the stock market needs to see stronger corporate earnings.

The media sector is starting to show faint signs of recovery as advertising finally picks up, although no one is jumping for joy just yet. Pearson, owner of the Financial Times, kicks off the media reporting on Monday. Analysts at Investec Securities expect the group to report that the newspaper has lost £6m in the first six months of the year, although other analysts put this figure closer to £10m. Compared with losses of £32m for last year, that counts as good news for the pink ‘un. Performance across its larger education business and its Penguin publishing business will be flat, but the group books most of its revenues in the second half, so these numbers are of limited value. 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

Financial Director: The incriminating 2002 Form 20F Sarbanes-Oxley certificates signed separately by Jeroen van der Veer, Sir Philip Watts and Judy Boynton.

Financial Director: The incriminating 2002 Form 20F Sarbanes-Oxley certificates signed separately by Jeroen van der Veer, Sir Philip Watts and Judy Boynton.

(Webmasters note: the following article first published by Financial Director in June is printed below because it contains the incriminating Form 20 F signed by Jeroen van der Veer, the Chairman of the Royal Dutch Shell Group.)

Financial Director: Stringing us along? “even its new ‘Mr. Clean’, Jeroen van der Veer, could all be forced onto centre stage in Wall Street’s first major Sarbanes-Oxley prosecution”

By Anthony Harrington [02-06-2004]

Posted 24 July 04

With an investigation into Shell’s “proven” oil reserves looming, Sarbanes-Oxley may well have caught its first major false accounting scandal. 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 Business Times (Singapore): Caltex, Shell raise petrol prices

The Business Times (Singapore): Caltex, Shell raise petrol prices

“Factors contributing to the high petroleum product prices include tension in the Middle East, strong consumption from the China market and early concerns from the US market”

Posted 25 July 04

CALTEX and Shell have followed ExxonMobil’s lead in raising petrol prices by four cents a litre. Shell is raising petrol prices by 4 cents a litre

At midnight on Thursday, ExxonMobil raised the retail pump prices of petrol and diesel. Its three grades of petrol now range from $1.384 to $1.498 per litre, while diesel now costs 85.2 cents a litre.

ExxonMobil, which has the biggest chain of 77 Esso and Mobil service stations in Singapore, said internationally traded wholesale petrol prices have been on the increase since early July, on the average by close to 10 per cent, and they remain high. 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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