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Posts on ‘July 27th, 2004’

International Herald Tribune: Russia aids 35% profit rise at BP

International Herald Tribune: Russia aids 35% profit rise at BP

Bloomberg News Tuesday, July 27, 2004

Higher prices also lift quarter’s results

LONDON BP, Europe’s largest oil company, said Tuesday that its second-quarter profit increased 35 percent, helped by record oil and gasoline prices and a jump in Russian production.

Net income rose to $3.43 billion, or 15.7 cents a share, from $2.54 billion, or 11.5 cents, a year earlier, the company said. The profit, the second-highest in the company’s history, foreshadows profit reports due on Thursday from Royal Dutch/Shell Group and Exxon Mobil. BP, Shell and Exxon are thought to have earned a combined $13.63 billion last quarter, according to analysts at Deutsche Bank. 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

Houston Chronicle: BP posts profit on low end of forecasts

Houston Chronicle: BP posts profit on low end of forecasts

“BP shares have still outperformed Shell since the start of 2004”: “BP… a better-run company”

Reuters News Service

27 July 04

LONDON – Oil giant BP reported second-quarter profit at the bottom end of forecasts today, knocking its shares, but investors said the stock remained underpinned by record oil prices and BP’s share buy-back plan.

The world’s second-biggest oil group, which has outshone scandal-hit rival Royal Dutch/Shell this year, said pro-forma net profit for the second quarter rose 23 percent from a year ago to $3.908 billion.

BP’s earnings were boosted by oil prices that have soared amid political tension in the Middle East, and by rising production at its new Russian venture. 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

Fortune.com: Now If Only Shell Could Find Some Oil

Fortune.com: Now If Only Shell Could Find Some Oil

Forget the reserve drama: At the current rate, Shell will run out of oil in a decade: “Shell will be a no-growth company at least for the next few years.”

By Janet Guyon

Posted 27 July 2004

Now that Royal Dutch/Shell has come clean about the games it was playing with its oil reserves, can it get out of the hole it’s in? That’s what investors want to know, and the prospects aren’t good. At least not in the short term.

Sure, the company is still selling lots of oil, and at high prices. But it’s only replacing 60% of the oil it is pumping, giving it the shortest reserve life—10.2 years—of any oil major. At current production rates, Shell will run out of oil in a decade. 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

Fortune.com: Is Shell Ready to Rebound?

Fortune.com: Is Shell Ready to Rebound?

“Forget Iraq and Iran,” says Gheit. “Royal Dutch/Shell needs a regime change.”

With the price of oil sky-high, analyst Fadel Gheit says patient investors can strike big gains on the beaten-down shares of Royal Dutch.

By Nelson D. Schwartz

From 9 August 04 issue

Right now Royal Dutch/Shell Group is the oil company Wall Street loves to hate. The reason, of course, is that its managers misled the public about the size of its reserves, prompting the resignation of the CEO and other top execs earlier this year. But with the price of oil sky-high, analyst Fadel Gheit of Oppenheimer says patient investors can strike big gains on the beaten-down shares of Royal Dutch (RD, $50), which owns 60% of the company (Shell Transport & Trading owns the rest). 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

Western Oil Sands Pres, CEO Turcotte To Resign

The Wall Street Journal: Western Oil Sands Pres, CEO Turcotte To Resign

DOW JONES NEWSWIRES

July 26, 2004 5:17 p.m.

Posted 27 July 04

CALGARY — Western Oil Sands Inc. (WTO.T) announced that Guy Turcotte anticipates stepping down as president and chief executive at the end of this year or early next year and moving to the position of chairman.

In a news release, the company said Turcotte will succeed Geoff Cumming as chairman and Cumming will remain a director.

Western Oil said it intends to establish a vice-chairman/lead director position to be held by an independent director who will provide independent advice and input in the management of governance issues for the board. 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 Guardian: Make or break time

The Guardian: Make or break time

New research shows the skills learnt on gap years are a key to success in later life – if only those taking them realised before they made their plans.

Andrew Jones reports

Tuesday July 27, 2004

Gap years have been getting mixed reviews recently. Princes William and Harry have been filmed enjoying their breaks, but the press is full of stories about the dangers: last month, two gap-year students were shot in Tanzania. Some cast doubt as to whether gap years represent anything more than glorified tourism, affluent middle-class kids on expensive overseas trips. Yet my recent research, to be published by the Department for Education and Skills (DfES) later this week, shows that the right kind of gap year can be a key to success in later life. 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

Reuters: Oil Companies Sued in California Over Asbestos Death

Reuters: Oil Companies Sued in California Over Asbestos Death

Mon Jul 26, 2004 10:47 PM ET

Posted 27 July 04

LOS ANGELES (Reuters) – The family of a California man who died of asbestos-related illnesses has sued the oil company owners of refineries where he installed insulation during his 45-year career, claiming the firms are liable for his death, the family’s lawyer said on Monday.

The widow and children of Edward Wood Jr. said the oil companies failed to warn the workers, who were employed by a subcontractor, that irreversible lung damage could result from their exposure to asbestos-laden insulation they regularly changed on the refineries’ pipes, lawyer David Rosen 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 Won’t Leave Nigeria – MD

AllAfrica.com: Shell Won’t Leave Nigeria – MD

Daily Champion (Lagos)

FELIX DURUMBAH, News Editor

Lagos

July 25, 2004

Posted 27 July 2004

MANAGING Director of Shell Petroleum Development Company of Nigeria (SPDCN), Mr. Basil Omiyi said at week-end that despite the crises rocking oil exploration in the Niger Delta, the firm would not pull out of the area.

He said his recent appointment as the first indigenous boss of SPDCN showed that Shell is “an equal opportunity firm.”

Speaking during an interview on the United States (U.S)-based Cable News Network, (CNN), Mr. Omiyi said Shell is “very welcome” in the Niger Delta, contrary to reports in some quarters that the firm would quit the area in 2008. 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

Bloomberg: BP 2nd-Quarter Net Rises 35% on Higher Prices, Output (Update3)

Bloomberg: BP 2nd-Quarter Net Rises 35% on Higher Prices, Output (Update3)

“Last year, BP overtook Shell as the world’s second-largest oil company by market value after Exxon Mobil.”

July 27 (Bloomberg) — BP Plc, Europe’s largest oil company, said second-quarter profit rose 35 percent, boosted by record oil and gasoline prices and a jump in Russian production.

Net income rose to $3.43 billion, or 15.7 cents a share, from $2.54 billion, or 11.5 cents a share, a year ago, based on accounting that excludes gains or losses from holding inventories, BP spokeswoman Wendy Silcock in London said. BP shares fell as much as 1.4 percent as its result missed some analyst forecasts. 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

BP profits at bottom of forecasts

Reuters: BP profits at bottom of forecasts

“has outshone scandal-hit rival Royal Dutch/Shell”

Tue 27 July, 2004

By Sudip Kar-Gupta

LONDON (Reuters) – BP has reported second-quarter profit at the bottom end of market forecasts but says it will continue a share buy-back programme that has buoyed investor sentiment.

The world’s second-biggest oil group, which has outshone scandal-hit rival Royal Dutch/Shell SHELL this year, said on Tuesday pro-forma net profit for the second quarter rose 23 percent from a year ago to $3.908 billion (2.123 billion pounds).

A range of analyst forecasts had given an average forecast of $4.17 billion, and the stock fell 1.1 percent to 484-1/4 pence in early trade. 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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