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Posts on ‘August 7th, 2004’

The New York Times: U.S. Adding More Oil to Emergency Reserve

The New York Times: U.S. Adding More Oil to Emergency Reserve

“Royal Dutch/Shell Group’s Shell Oil to deliver more than 100,000 barrels of crude a day to the nation’s Strategic Petroleum Reserve.”

By REUTERS

Posted 7 August 04

WASHINGTON (Reuters) – The Bush administration said on Friday it was adding more oil to the U.S. emergency petroleum reserve, despite record high crude prices and strong oil demand.

The U.S. Interior Department said it awarded contracts to ChevronTexaco Corp. and Royal Dutch/Shell Group’s Shell Oil to deliver more than 100,000 barrels of crude a day to the nation’s Strategic Petroleum Reserve.

The oil will be delivered over a six-month period beginning on Oct. 1. 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 Wall Street Journal: Oil Cos In Singapore Cut Gasoline Prices To Mark Holiday

The Wall Street Journal: Oil Cos In Singapore Cut Gasoline Prices To Mark Holiday

DOW JONES NEWSWIRES

August 6, 2004 5:04 a.m.

Posted 7 August 04

SINGAPORE (AP)–Oil prices struck yet another record high Friday, but some of the world’s largest energy companies are busy cutting gasoline prices in Singapore to mark the Southeast Asian city-state’s independence day.

ExxonMobil (XOM), Shell (RD) and Caltex (CXX.YY) have all slashed prices at the pump by 12% as the Aug. 9 National Day holiday approaches, allowing motorists to fill up their tanks more cheaply even as energy costs on world markets are soaring amid concerns about supply. 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 Wall Street Journal: Nigeria: Can Maintain Oil Output If Unrest But At A Cost

The Wall Street Journal: Nigeria: Can Maintain Oil Output If Unrest But At A Cost

DOW JONES NEWSWIRES

August 6, 2004

Posted 7 August 04

LAGOS — Nigeria has found a way of mitigating the impact of disturbances in its oil producing region by promptly bringing unaffected areas into production to offset output cut off by these conflicts, a senior government official told Dow Jones Newswires this week.

“If there is a shut-in somewhere, we go to a calmer area to balance the production,” Billy Agha, a deputy director at the Department of Petroleum Resources, told Dow Jones Newswires this week in Abuja, on the sidelines of a conference on oil and gas. 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: City Briefs: Shell view

Daily Telegraph: City Briefs: Shell view

Shell and BASF will raise between $3.5billion and $7billion if they sell their polyolefins chemicals business, which is under review. Shell said “any action will be taken by the middle of 2005”.

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 unravel chemical elements

Financial Times: Oil companies unravel chemical elements

By David Firn and Carola Hoyos

Published: August 6 2004 04:00

Posted 7 August 04

Three of the world’s four largest oil companies are divesting big chunks of their chemicals businesses. BP, Royal Dutch/Shell and Total have all begun the process of carving out non-core chemicals activities in a move that signals a tighter focus on upstream operations.

Shell is furthest ahead. Its polyolefins business, which makes basic ingredients for plastics, is combined in the Basell joint venture with those of BASF, the German chemicals group. After several years of restructuring, the assets are up for sale. 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.

BASF and Shell set to sell chemicals venture for €6bn

Financial Times: BASF and Shell set to sell chemicals venture for €6bn

By David Firn, Pharmaceuticals and Chemicals Correspondent

Published: August 6 2004 04:00

Posted 7 August 04

BASF and Shell will put their Basell petrochemicals joint venture up for sale later this month, in what is expected to be one of the biggest chemicals auctions to date. Basell, which makes polyolefins – the building blocks for many plastics – is valued at up to €6bn (£4bn).

The potential sale of Basell is one of several transactions planned in the oil industry as BP and Total also take advantage of the upturn in commodity chemicals to sell non-core assets. 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.

Financial Times: Shell drills deeper

Financial Times: Shell drills deeper

“Royal Dutch/Shell has brought in external consultants in document security to aid its investigation into a leak of a commercially confidential report” 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: Corporate battle lines

The Guardian: Corporate battle lines

“stories of corporate fraud, unbridled greed and negligent auditing, have given much support to the Galbraithian thesis”: “How different are the skills required to succeed in, say, Shell, from those needed in the Treasury? (Apart, of course, from the need in the former case to cultivate a blind eye.)”

JK Galbraith returns to the fray with The Economics of Innocent Fraud. He still has the power to inform and provoke, writes Howard Davies

Saturday August 7, 2004

It is some time since we have heard from JK Galbraith, which is not entirely surprising. At 95 he may be excused some gaps in what has, for 75 years, been a regular flow of stimulating political and economic writing.

The general assumption, I think, was that he had finally retired from the fray. The Economics of Innocent Fraud shows that is far from the case. He has re-emerged with a pungent, if short, essay on economics, corporate politics and the terminology of public discourse. 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.

straitstimes.asia1.com: Petrol price war again

straitstimes.asia1.com: Petrol price war again

“The price war in Singapore comes at a time when international oil prices are at record levels.”

BP initiates a record 16% discount that is quickly matched by its rivals; the cut comes amid new highs in crude oil prices

AUG 7, 2004

By Christopher Tan

AFTER a six-month lull, Singapore’s petrol price war has re-ignited, with companies yesterday revising a day-old 12 per cent discount to an unprecedented 16 per cent.

The 12 per cent ‘National Day’ offer by Shell, ExxonMobil, Caltex and Singapore Petroleum Co (SPC) – that started on Thursday – was overshadowed by BP’s one-upmanship at noon yesterday, even as the price of crude oil hits record levels.

Within hours, all the players except ExxonMobil reacted. By 5.30pm, Shell was putting up freshly made signs at sites where BP is present. 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.

Los Angeles Times: U.S. Adding to Its Oil Reserve

Los Angeles Times: U.S. Adding to Its Oil Reserve

Bush administration Friday awarded contracts to ChevronTexaco Corp. and Royal Dutch/Shell Group’s Shell Oil to replenish the U.S. emergency petroleum reserve” (ShellNews.net)

From Times Wire Services

7 August 04

The Bush administration Friday awarded contracts to ChevronTexaco Corp. and Royal Dutch/Shell Group’s Shell Oil to replenish the U.S. emergency petroleum reserve, despite record high crude prices and strong oil demand.

Oil prices hit record highs Friday, climbing close to $45 before settling back down, after a renewed threat to Russian oil major Yukos added to the strain on world supplies.

The price of crude for September delivery ended in New York at $43.95 a barrel, down 46 cents from Thursday’s record close of $44.41. 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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