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Posts on ‘August 4th, 2004’

The Wall Street Journal: Argentina To Hike Oil Export Duties If Intl Price Rises

The Wall Street Journal: Argentina To Hike Oil Export Duties If Intl Price Rises

DOW JONES NEWSWIRES

August 3, 2004 12:58 p.m.

Posted 4 August 04

BUENOS AIRES — Argentina’s government will raise oil export duties again if the international oil price remains above $42 per barrel, Planning Minister Julio de Vido confirmed Tuesday.

“The decision is already taken,” De Vido told reporters at a news conference. He said the measure is being designed by the Economy Ministry and will be enacted over the next few days.

The move is part of an attempt to prevent fresh fuel price rises, after Argentina’s four main fuel producers lifted gasoline and diesel prices over the last ten days. 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.

PetroChina cancels talks for joint venture

Financial Times: PetroChina cancels talks for joint venture

“decision brought to an end the involvement of Royal Dutch/Shell and Exxon/Mobil”

By Carola Hoyos in London and Richard McGregor in Shanghai

Published: August 3 2004 16:38 | Last updated: August 3 2004 16:38

Posted 4 August 04

PetroChina, China’s largest oil producer, has terminated the $18bn joint venture negotiations with international energy groups over its 4,200km natural gas pipeline from the west of the country to Shanghai.

The decision brought to an end the involvement of Royal Dutch/Shell and ExxonMobil, two of the world’s largest international oil companies, and Gazprom, Russia’s gas monopoly, after two years of often tense negotiations. 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.

Nigeria Eyes Pipeline To Replace FPSOs –Regulator

The Wall Street Journal: Nigeria Eyes Pipeline To Replace FPSOs –Regulator

“West Africa has a rich history of under reportage of lifted volumes by oil companies”

DOW JONES NEWSWIRES

August 3, 2004 7:15 p.m.

Posted 4 August 04

(Updates to add comments from Washington attorney.)

ABUJA — Nigeria plans to phase out floating production, storage and offloading vessels used by majors operating in its deepwater region and replace them with a pipeline network on which tariffs would be charged, a senior official at the country’s oil watchdog said late Tuesday.

Billy Agha, a director at the Department of Petroleum Resources, told Dow Jones Newswires there was no timescale for the plan, though his department intended to consult a Houston-based company about the project. He was speaking on the sidelines of an energy industry conference in the Nigerian capital. 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.

ThisIsLondon.co.uk: Shell looking to join halves

ThisIsLondon.co.uk: Shell looking to join halves

4 August 2004

ANGLO-Dutch oil giant Shell is likely to unify its complicated dual-board structure as part of its reforms to appease shareholders.

Operating company Royal Dutch/Shell, which is 60% owned by Royal Dutch and 40% owned by Shell, is reported to be planning to merge the boards as a ‘minimum’ concession.

Shell said ‘all options are being considered including a unified board to which a chief executive would report’.

Radical changes could involve the full merger of the two holding companies. The oil firm has been forced to review all aspects of its governance after admitting it overstated oil reserves. 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.

Oil Companies Quit China Pipeline Project

The Wall Street Journal: Oil Companies Quit China Pipeline Project

“Shell… the lead negotiator with PetroChina”

By XU YIHE

DOW JONES NEWSWIRES

August 4, 2004; Page A11

SINGAPORE — A consortium comprising Royal Dutch/Shell Group, Exxon Mobil Corp. and Gazprom OAO decided to pull out of PetroChina Co.’s $5.25 billion (€4.36 billion) West-East natural-gas project in China.

A Shell official said the consortium decided to pull out of the pipeline project because it was unable to find “common ground” with PetroChina. Shell is the lead negotiator with PetroChina. PetroChina couldn’t be reached for comment. 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.

Royal Dutch/Shell, the oil giant, to unify

The Times: Need to Know: Global Business Briefing: “Royal Dutch/Shell, the oil giant, is to unify the boards of its Dutch and British holding companies…” 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.

Daily Telegraph: Shell pulls out of $18bn China pipeline project

Daily Telegraph: Shell pulls out of $18bn China pipeline project

“Shell, the embattled Anglo-Dutch oil and gas giant, suffered yet another blow yesterday”

By Christopher Hope (Filed: 04/08/2004)

Shell, the embattled Anglo-Dutch oil and gas giant, suffered yet another blow yesterday when it pulled out of a $18 billion project to build a natural gas pipeline across China.

Shell, ExxonMobil and Russia’s Gazprom were in talks with China’s PetroChina to take a 15pc stake each in the “west-east project”.

The consortium – led by Shell – and the Chinese company signed a framework agreement last July for the 2,400-mile pipeline to take 12 billion cubic metres of gas from fields in western China to markets in the east of the country. 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 Guardian: Shell in move to unite British and Dutch boards

The Guardian: Shell in move to unite British and Dutch boards

“Shell is poised to unify its British and Dutch boards in response to shareholder pressure”

David Gow

Wednesday August 4, 2004

Shell is poised to unify its British and Dutch boards in response to shareholder pressure over its repeated downgrading of its proven oil and gas reserves.

The energy group, fined £84m last week for misleading the market over its reserves, could even opt for a full merger or takeover among the two holding companies.

Royal Dutch owns 60% and Shell Transport & Trading 40% in a near century-old structure that has been savaged for its lack of accountability since the group cut its proven reserves by 20% in January. These have since been cut by a further 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.
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