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Posts on ‘August 1st, 2004’

Inq7.net: Oil prices seen going up further

Inq7.net: Oil prices seen going up further

“Soaring prices in the international market could be attributed to the continued threat of terrorist attacks on oil installations in the Middle East, particularly in Iraq, and the high demand for fuel in the United States brought by the summer driving season.”

Abigail L. Ho

Inquirer News Service

Posted 1 August 04

PUMP prices of petroleum products can still go up in the next several weeks, with or without an increase in import tariffs or excise taxes.

The Independent Philippine Petroleum Companies Association — which groups “new players” in the industry dominated by the Big Three companies Petron Corp., Pilipinas Shell Petroleum Corp. and Caltex Philippines Inc. — said the new players, which are all importers of finished products, still had to recover costs of 0.78 peso a liter for unleaded gasoline and as much as 3.81 pesos a liter for diesel. As this was the case, pump prices had nowhere to go but up, the group said. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

The Manila Times: Oil firms to increase prices by P0.50/liter on August 2

The Manila Times: Oil firms to increase prices by P0.50/liter on August 2

“Shell’s general manager… said that the upward movement in local oil prices is due to the continued political, peace and order, and security tensions in the Middle East, which include the sabotage to Iraq’s oil infrastructure.”

By Paul Anthony A. Isla , Reporter

Sunday 1 August 04

CONSUMERS are expected to be burdened with higher oil prices as local pump prices of fuel are expected to increase anew by next week.

On Saturday, Caltex (Philippines) Inc., Eastern Petroleum Corp., Flying V, Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. announced that they would be increasing oil prices by 50 centavos a litre for gasoline, diesel and kerosene.

The latest round of oil price hikes would take effect midnight of Sunday (August 2), except for Flying V, which is set to raise its own prices by midnight of Monday (August 3). read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

The Detroit News: New refineries aren’t built in U.S. anymore

The Detroit News: New refineries aren’t built in U.S. anymore

By H. Josef Hebert / Associated Press

1 August 04

WASHINGTON — It’s a good time to be in the oil refinery business. Demand for gasoline is high and profits are pouring in at a record clip.

With that combination, you’d think oil companies would be falling over each other to build new refineries. Not so. There hasn’t been a new refinery built in the United States in 28 years and more than 200 smaller facilities have closed.

Refining never has been viewed as a cash cow by the petroleum industry, which complains about meager profits, hefty environmental costs and too much government regulation. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Sale of Shell’s Ketch and Schooner gas fields

The Sunday Times: Business Digest: “THE sale of Shell’s Ketch and Schooner gas fields is finally expected to get under way this month”

1 August 2004

THE sale of Shell’s Ketch and Schooner gas fields is finally expected to get under way this month, with a data room likely to be opened in September at the latest. The two fields, which are jointly owned by Shell and Exxon Mobil, are believed to be worth about £200m and the bidding is likely to be hotly contested.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

In the dock: City watchdog accused of incompetence

The Sunday Times: Special Report: In the dock: City watchdog accused of incompetence

“When it adopted an American-style settlement formula last week and allowed Shell to pay its fine without admitting guilt, the regulator set a precedent.”

By Peter Koenig

Posted 1 August 04

The Financial Services Authority is under fire for failing to get compensation for victims of the split-capital scandal

DAVID “DOTTY” THOMAS limped into the tribunal in London on July 22. At 71 his belly sagged and his jowls quivered. He half resembled a City gent and half a sport looking to cadge a fiver.

Thomas was one of the architects of modern split-capital investment trusts — companies set up to buy shares in other companies that offer investors two categories of stock, one for high income, the other for safe returns. He was called Dotty partly because his technical pitches for split caps were often incomprehensible. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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