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Posts on ‘August 15th, 2004’

The Business: Shell battles to save gas deal with Libya

The Business: Shell battles to save gas deal with Libya

“it needs to report progress to investors battered by this year’s disastrous reserves downgrade.”: “I would imagine Shell is desperate to sign something.”

By Richard Orange

15 August 2004

SHELL will be working over the next month to revive stalled negotiations on a key Libyan investment in time for its September strategy meeting. It needs to report progress to investors battered by this year’s disastrous reserves downgrade.

Shell announced a preliminary deal to re-enter Libya in March this year after a high-profile visit by UK Prime Minister Tony Blair to Tripoli. But The Business has learnt that the agreement has stalled because of Shell’s insistence on part ownership of some of Libya’s gas fields. 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.

Sunday Express: All’s well with Cairn in the Indian desert

Sunday Express: All’s well with Cairn in the Indian desert

It was an act of stupidity… You don’t sell off your golden eggs like that. Shell’s loss is Cairn’s gain.”: “Oil minnow’s £4m field is worth billions”

Oil minnow’s £4m field is worth billions, writes Robin Pagnamenta

15 August 2004

THE contrast between the fortunes of Shell and oil minnow Cairn Energy could not be starker. While Shell has been battling to soothe investor concerns about governance and its long-term supplies of oil and gas, Cairn has been moving from strength to strength.

Shares in the Edinburgh-based exploration company have soared since January when it revealed its 5,000 sq km field in India’s Rajasthan desert contained a major oil prospect. 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.

WHY SHELL MUST ACT NOW TO CALM TROUBLED WATERS

SUNDAY EXPRESS: WHY SHELL MUST ACT NOW TO CALM TROUBLED WATERS

“But restructure may not be enough after scandal, resignation and fines, reports Robin Pagnamenta”

But restructure may not be enough after scandal, resignation and fines, reports Robin Pagnamenta

JEROEN VAN DE VEER smiled broadly in the cavernous interior of the New York Stock Exchange last week as he rang the opening bell for trading. The bespectacled Royal Dutch/Shell chairman was celebrating the 50th anniversary of the firm’s listing.

For perhaps the first time since his emergency appointment five months ago — after Sir Phil Watts was sacked after a misreported oil reserves scandal — van de Veer must have felt he was being feted rather than assaulted from all sides. 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 expects hostile takeover bids

Financial Times: Setting the scene

“Shell expects hostile takeover bids from BP and ExxonMobil within the next few months. These bids will be followed by a successful ‘white knight’ bid from Total”

By Clay Harris

Jul 30, 2004

Royal Dutch/Shell has long been known for its “scenario” planning. Mudlark’s man at the downstream end of the rumour pipeline reports the following scenario from a “senior Shell source”.

“Shell expects hostile takeover bids from BP and ExxonMobil within the next few months. These bids will be followed by a successful ‘white knight’ bid from Total, which will agree to sell some of Shell’s assets to BP and Exxon to persuade them to withdraw.” It’s something to think about. 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.

SKYNEWS: SHELL FACES TAKEOVER BID

SKYNEWS: SHELL FACES TAKEOVER BID: “insiders claiming French oil company Total is planning a raid.”

Posted 15 August 04

Beleaguered oil giant Shell is preparing for a takeover bid, with insiders claiming French oil company Total is planning a raid.

Shell, the Anglo/Dutch group, is worried that Total is the only firm capable of gaining regulatory approval for a buy-out.

Total’s chief executive Thierry Desmarest is understood to be keen to expand the company’s market presence through a merger or acquisition.

Total has a market cap of £68bn compared with Shell’s £94bn.

Shell bosses have previously admitted the need to boost its 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.

BBC News: Shell ‘could be target for Total’

BBC News: Shell ‘could be target for Total’

Shell has struggled to rebuild confidence after the reserves crisis

15 August 04

Oil giant Shell could be bracing itself for a takeover attempt, possibly from French rival Total, a report claims.

Bosses at the Anglo-Dutch group are said to have admitted that the company is vulnerable to a predator, according to the Observer newspaper.

Total would be an obvious contender because it is believed to be the only firm capable of getting any merger proposal past the regulators.

Shell has been vulnerable since it downgraded its reserves estimates.

Reserves crisis

The company shocked the market in January by announcing that its oil and gas stocks were 20% lower than previously thought. But that was not the end of the matter – it subsequently downgraded its reserves another three times. 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 Observer: Ailing Shell braced for French bid

The Observer: Ailing Shell braced for French bid

Oil giant ‘could merge with rival Total’: “the possibility of a deal is now the subject of fevered speculation in the City.”

Nick Mathiason

Sunday August 15, 2004

Royal Dutch/Shell is bracing itself for a takeover bid, with Shell executives now conceding that it is vulnerable to a predator.

Insiders at the Anglo-Dutch oil giant fear Total, the French oil group, will launch a raid. Total, the world’s fourth-largest oil firm, is considered the only predator capable of gaining regulatory approval for what would be a spectacular merger.

Total is smaller than Shell, with a market cap of £68 billion against Shell’s cap of more than £94bn. 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.

CIVIL ACTION 04431 IN THE US DISTRICT COURT OF NEW JERSEY AGAINST THE ROYAL DUTCH SHELL GROUP

CIVIL ACTION 04431 IN THE US DISTRICT COURT OF NEW JERSEY AGAINST THE ROYAL DUTCH SHELL GROUP AND NAMED FORMER AND CURRENT SHELL DIRECTORS

Alfred Donovan, the owner/publisher of Shell2004.com has been contacted by Mr Steven J Peitler, an investigator from Bernstein Liebhard & Lifshitz LLP, the New York Attorneys acting for the Lead Plaintiff, the Pennsylvania State Pension Fund, in the main US class action lawsuit against the Royal Dutch Shell Group and named current and former directors. The lawsuit is in relation to the oil reserves scandal.

At the request of Mr Peitler documentary information has been supplied to him confirming Shell’s corporate culture over the last decade of deliberately hiding information from Shell shareholders. Further such documents are also being furnished. 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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