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Posts on ‘August 3rd, 2004’

Toxic Waste: Group Demands N200m Compensation from Shell

ThisDayOnline: Toxic Waste: Group Demands N200m Compensation from Shell

“The once beautiful land is no longer a source of fresh air and green vegetation. All one sees and feels now is death.”

From Onwuka Nzeshi in Warri

3 August 2004

A non-governmental organisation, Niger Delta Oil Communities Development Front yesterday demanded a compensation package of N200 million from the Shell Petroleum Development Company for allegedly dumping drilling chemicals and toxic wastes at Egbemo-Angalabiri, Bayelsa State.

The alleged waste dump, THISDAY learnt was sequel to activities of Parker Drilling, a contractor firm to Shell three years ago but only became manifest when the community gradually began to metamorphose into a wasteland. 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.

Bloomberg: European Energy Stocks Gain on Record Oil Price; BP, Shell Rise

Bloomberg: European Energy Stocks Gain on Record Oil Price; BP, Shell Rise

“The price of oil has risen 39 percent this year amid concern supplies may not meet demand.”

Aug. 3 (Bloomberg) — European oil stocks including BP Plc and Shell Transport & Trading Co. gained as oil futures reached a record in New York. Royal Bank of Scotland Group Plc led banks lower after its earnings didn’t beat estimates.

The price of oil has risen 39 percent this year amid concern supplies may not meet demand. The energy group in the Dow Jones Stoxx 600 Index has gained 13 percent this year, compared with a 3.2 percent gain for the broader benchmark, as the higher cost of crude boosted the industry’s outlook. 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.

California Officials Tour LNG Sites In Asia, Australia-Report

The Wall Street Journal: California Officials Tour LNG Sites In Asia, Australia-Report

“Four of the firms have contributed a total of $250,000 in political funds to Schwarzenegger, the Times reported.” (including “Royal Dutch Shell”)

DOW JONES NEWSWIRES

Posted 3 August 04

LOS ANGELES (AP)–Top officials in Gov. Arnold Schwarzenegger’s administration toured liquefied natural gas sites in Asia and Australia with energy executives seeking to build fuel terminals along the California coast, the Los Angeles Times reported Monday.

The 11-day trip last month included briefings, meals and receptions with Australian and South Korean government officials, as well as stays at an upscale hotel and a yacht tour. But the focus was liquefied natural gas facilities. 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.

Shell set to get permit for petrol, diesel retailing in India

Hindu Business Line: Shell set to get permit for petrol, diesel retailing

“Shell India Pvt Ltd to set up 2,000 retail outlets in the country for marketing petrol and diesel.”

New Delhi, Aug 2

Posted 3 August 04

THE Government is set to allow Shell India Pvt Ltd to set up 2,000 retail outlets in the country for marketing petrol and diesel. This follows the multinational oil and gas major fulfilling the investment criteria for obtaining the market authorisation permit to sell transportation fuels.

Around three months ago, Shell cleared the investment requirement of Rs 2,000 crore in the country by way of completing a good part of the $650-million 2.5 million- tonne per annum LNG regassification terminal at Hazira, Gujarat. 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.

Moody’s fears pace of Shell shake-up

Daily Telegraph: Moody’s fears pace of Shell shake-up

“In a letter that confirmed Shell’s Aa1 rating with negative outlook”: “Shell’s competitive positioning in global exploration and production, while formidable, has suffered relative to its high-rated industry peers..”

By Christopher Hope (Filed: 03/08/2004)

Moody’s, the credit reference agency, is worried that changes to Shell’s unwieldy corporate structure could happen too quickly.

The Anglo-Dutch oil giant has pledged to review its structure after announcing that it had 23pc or 4.47 billion fewer barrels of “proven” oil and gas than previously thought. An update by a special steering committee is promised for November.

In a letter that confirmed Shell’s Aa1 rating with negative outlook, Moody’s said: “The negative outlook reflects the uncertainties over timing as well as the scope and direction of governance and legal structural changes to be recommended by the steering committee. 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.

Parmalat takes the offensive

Financial Times: Parmalat takes the offensive

By Paul Betts

Published: August 3 2004 04:00 | Last updated: August 3 2004 04:00

The Parmalat affair confirms the old saying there are two ways to be wealthy – owning lots of money or, alternatively, lots of debt. In terms of the latter, Enrico Bondi can consider himself a very rich man. The Italian company’s government appointed administrator seems to have made good use of his overdraft.

While Shell is paying $120m to the US Securities and Exchange Commission to settle investigations into its reserves scandal, Parmalat is getting away without paying a dime for one of the biggest frauds in corporate history. 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.

Woodside outstrips profit expectations

Financial Times: Woodside outstrips profit expectations

By Virginia Marsh

Published: August 3 2004 04:00 | Last updated: August 3 2004 04:00

Woodside, the Australian oil and gas group which is part-owned by Royal Dutch/Shell, said yesterday that it expected net profit for the first half to beat expectations by 10 per cent.

Shares in the Perth-based group surged almost 4 per cent on the news to a record high of A$18.70.

The group, Australia’s biggest independent oil producer and the operator of the North West Shelf gas project, said it expected interim net profits of A$345m, up from the consensus forecast of A$314m. 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.

Reuters: Shell to unify boards

Reuters: Shell to unify boards

Tue 3 August, 2004

By Andrew Callus

LONDON (Reuters) – Royal Dutch/Shell is to unify the boards of its Dutch and British holding companies as a “minimum” concession to shareholders who want change, according to a senior industry source.

“Both boards accept now that the status quo is not an option,” the source told Reuters this week, six weeks into an internal review of the issue. “They know that the absolute minimum they are going to get away with is a unified board.” 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.

Lament of the Shell shareholder

Financial Times: Lament of the Shell shareholder

“The penalty is the equivalent to the imposition of a fine on a victim of a robbery rather than on the perpetrator!”

By B. M Nonhebel

Published: August 3 2004 04:00 | Last updated: August 3 2004 04:00

From B. M. Nonhebel.

Sir, As one who bought Shell shares earlier this year I am dismayed by the decisions of the financial regulators in both the UK and the US to impose a hefty fine on the company for its overstatement of reserves. I am one of those hurt in that the price at which I bought my shares was clearly too high because proven oil reserves were lower than I and the market thought at the time.

The penalty is the equivalent to the imposition of a fine on a victim of a robbery rather than on the perpetrator! I would be interested to learn about how the authorities reasoned in so convoluted a manner. 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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