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Posts on ‘August 5th, 2004’

The Independent: Shell set to unify boards to quell investor anger

The Independent: Shell set to unify boards to quell investor anger

“Some analysts say the structure has prevented Shell from making bold strategic decisions”

BY ANDREW CALLUS

Posted 5 August 04

ROYAL DUTCH/SHELL is set to unify the boards of its Dutch and British holding companies as a “minimum” concession to shareholders who want change.

The company is six weeks into an internal review of its board structure and is understood to also be considering more radical changes, including a full merger or a takeover of one holding company by the other.

“Both boards accept now that the status quo is not an option,” a senior source said. “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.

AllAfrica.com: LC Will Make Upstream Operating Cost Cheaper, Effective — Shell

AllAfrica.com: LC Will Make Upstream Operating Cost Cheaper, Effective — Shell

Hector Igbikiowubo

Vanguard (Lagos)

Posted 5 August 04

NIGERIAN subsidiary of the Anglo/Dutch oil giant, Shell Petroleum Development Company (SPDC) has disclosed that increased local content development will reduce its cost of operations, make its services even more effective and meet government aspirations.

The company’s managing director designate, Mr. Basil Omiyi, made the disclosure while speaking with Vanguard in Port Harcourt recently.

“If we can seek local services and materials from the immediate environment, it will make our cost cheaper and make us more effective and meet government aspirations. That is a win win situation. And local content is part of that. 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.

AllAfrica.com: Commissioner Bemoans Shell, Chevron Activities

AllAfrica.com: Commissioner Bemoans Shell, Chevron Activities

“the degree and extent of pollution occasioned by exploration and exploitation of oil and gas on our environment is quite enormous”.

Jaiyeola Andrews

Posted 5 August 04

Delta State Commissioner for Environment, Mr George Ugbomah, has bemoaned the activities of Shell Petroleum Development Company and Chevron, saying their exploration has left places like Odidi, Egwa, Oghara, Sapele, Jones, Creeks, Otumara, Escravos, Chanomi, Forcados, Opuama and Saghara completely devastated and degraded.

He equally condemned the multinationals for their penchant to cover up anytime there was a spill, adding that his ministry always detect such spill, anytime it occurred. 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: Filthy lucre: Oil, oil – everywhere!

The Guardian: Filthy lucre: Oil, oil – everywhere!

“And what about Rajasthan? Shell had more or less abandoned prospecting there, but oil minnow Cairn Energy made several major finds this year and reckons Rajasthan could be the new Texas”

Stephen Moss

Thursday August 5, 2004

Oil prices are soaring, stock markets are falling, the end of the world is nigh. Purnomo Yusgiantoro, the Indonesian president of Opec, has warned that the cartel will not be able to increase production to bring down prices, the rise in which has been fuelled by uncertainty over the future of Russian oil giant Yukos and attacks on pipelines in Iraq. Better fill up now before we hit $50 a barrel.

The 11 members of Opec – Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela – supply more than 40% of the world’s oil and have more than 75% of all proven reserves. They have us over a … well, they’ve certainly got us where they want us. Yusgiantoro’s statement may even be a bargaining ploy. So the answer, surely, is to start looking beyond Opec. 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.

Pipeline pullout embarrasses Petrochina

Financial Times: Pipeline pullout embarrasses Petrochina

By Carola Hoyos, Uchenna Izundu and Richard McGregor

Published: August 4 2004 04:00 | Last updated: August 4 2004 04:00

Petrochina’s sharp termination of its joint venture negotiations with foreign energy groups over their involvement in a $18bn (€14.9bn, £9.8bn) west-to-east pipeline is embarrassing for China’s largest oil producer and its potential partners.

But the break-up will come as no surprise to the industry, which has long sensed that all was not well in the negotiations between the Chinese and the overseas participants, Royal Dutch/ Shell, ExxonMobil and Russia’s Gazprom. 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.

China Daily: PetroChina goes solo on gas line

China Daily: PetroChina goes solo on gas line

‘Two years of negotiations came to an end on Monday when PetroChina sent “letters of termination” to Royal Dutch/Shell’

Xie Ye

5 August 04

PetroChina officials and industry analysts yesterday insisted that the US$14.5-billion west-east gas pipeline project will be unaffected by the collapse of the proposed joint venture between PetroChina and a foreign consortium.

They said PetroChina, the nation’s largest oil company, has enough funding and technical capability to develop the project on its own.

The project includes the development of gas fields in the Xinjiang Uygur Autonomous Region, operation of a 4,000 kilometre pipeline and supplying gas to Shanghai, the nation’s economic hub. 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 Prices Rise Again After Brief Pause

The New York Times: Oil Prices Rise Again After Brief Pause

“there is uncertainty over the amount of reserves held by oil companies and Middle Eastern countries.”: “cited Royal Dutch Shell’s acknowledgment in January that it had less reserves than it initially reported.”: “also concern about oil production in Nigeria”

By THE ASSOCIATED PRESS

Published: August 5, 2004

SINGAPORE (AP) — Crude oil futures rebounded Thursday from an overnight tumble on doubts about whether the Organization of Petroleum Exporting Countries could supply enough oil to meet demand.

The September light sweet crude contract on the New York Mercantile Exchange traded at US$42.98 a barrel at 0654 GMT, up US$0.15 in an active electronic trading session, with 3,794 contracts changing hands.

Prices reached a record high of US$44.34 per barrel Wednesday — up US$12.50 from last year — even though OPEC said it was prepared to boost production by up to 1.5 million barrels a day to plug the supply gap. 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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