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Posts on ‘August 17th, 2004’

Shell has had a near-death experience

The Times: City Diary: “Shell has had a near-death experience of its own of late and could probably do with some good PR.”

By Martin Waller

August 17, 2004

A CONSORTIUM controlled by Shell is handing out $2 million to fund continuing research into the Western Grey Whales of the Pacific. Sakhalin Energy, where Shell has a 55 per cent stake, is in trouble with the green lobby for plans to raise production of oil off Sakhalin Island, north of Japan, which is the whales’ summer feeding ground.

The species is endangered. Shell has had a near-death experience of its own of late and could probably do with some good PR. The research might even solve one continuing mystery, which is where the whales go in winter. 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 Malaysia Star: Shell Refining posts highest quarterly profit

The Malaysia Star: Shell Refining posts highest quarterly profit

“Chairman Jon Chadwick said: “We are pleased with this back-to-back achievement, surpassing even the record profit for the first quarter this year.”

17 Aug 04

SHELL Refining Company Bhd announced a net profit of RM175.3mil for its second quarter ended June 30, beating an earlier record profit of RM122.5mil in the first quarter.

Chairman Jon Chadwick said: “We are pleased with this back-to-back achievement, surpassing even the record profit for the first quarter this year.

“The excellent financial results was mainly due to the continued strength of our refining margins, sustained operational performance and to a lesser extent, stockholding gains,” he said in a statement yesterday. 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: Cairn oil bonanza nets chiefs £4m bonus

Daily Telegraph: Cairn oil bonanza nets chiefs £4m bonus

“Cairn’s finds in India are a source of continued embarrassment to Shell, which sold its 50pc share in the concession to Cairn for just $7.25m.”

By Christopher Hope, Business Correspondent (Filed: 16/08/2004)

Cairn Energy, the Scottish oil explorer, will take a charge of more than £4m at its half-year results in three weeks’ time to cover the cost of paying out long-term bonuses to its management.

Cairn has been one of the biggest risers on the stock market this year after discovering 1.85billion barrels of oil in northern India. Last week the shares jumped 13pc after Cairn found oil for the fourth time.

Kevin Hart, finance director, told analysts last week that the cost of paying directors’ bonuses under its long-term incentive plan, which is linked to Cairn’s share price, was likely to be £4.3m for the six months to June 30. 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 Scotsman: Oil bonanza for man who took on Shell and won

The Scotsman: Oil bonanza for man who took on Shell and won

JAMES DOW

17 Aug 2004

WHEN Bill Gammell stepped forward to accept the gong for Scottish Entrepreneur of the Year a few weeks ago, he turned to the assembled high-fliers and made a typically self-deprecating remark.

“I am only fortunate to be the leader of the team,” the chief executive said. “Winning this is a terrific recognition for the outstanding people at Cairn Energy.”

As a former Scotland rugby international, he knows plenty about being a team player, but his individual achievements are increasingly being recognised beyond the realm of his peers. 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: Libya invites bids for drilling rights

Daily Telegraph: Libya invites bids for drilling rights

“The news emerged amid reports that Shell’s Libyan deal, which is still at the preliminary stage, was stalling.”

By Christopher Hope, Business Correspondent (Filed: 17/08/2004)

Libya, which was welcomed back into the international fold four months ago, yesterday invited oil and gas companies to bid for drilling rights there.

The news is the first open invitation to oil and gas companies since Shell signed a deal to build a $200m liquefied natural gas terminal during a visit by Prime Minister Tony Blair in March.

Libya’s National Oil Company announced that it was offering exploration and production rights on almost 130,000 sq km, divided into 15 blocks in the north and west 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 Independent: Shell takeover speculation dismissed

The Independent: Shell takeover speculation dismissed

16 Aug 2004

Posted 17 Aug 04

The FTSE 100 holds on to its gains, but Shell slips back from session highs after a leading broker plays down the chances of French rival Total bidding for the oil giant.

Shell, up 4p to 394.5p, slipped from a high of 397.75p after Dresdner Kleinwort Wasserstein poured cold water on a report in yesterday’s Observer suggesting the group is bracing itself for a bid from Total. Shares in Total slipped 1%.

DKW, which reiterated its add rating and 425p price target, said Shell is ‘probably too big to be swallowed’ and ‘scarcely a lame duck’, pointing out that the group has recovered most of its losses following January’s reserve downgrade. 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.

Silly summer season speculation

Financial Times: European Comment: Not all that far-fetched: “Total’s cautious boss Thierry Desmarest has shown he can pull off big takeovers, with Elf and Petrofina. He has plenty of cash and more to come”

By Paul Betts

17 August 04

It may be silly summer season speculation. At least this is how the markets on Monday took revived talk of French oil champion Total bidding for Royal Dutch/Shell. But is it really so far-fetched?

The odds of Air France merging with KLM always looked slim. How could the French succeed where British Airways failed?

If anyone was to take over the Dutch airline, the British seemed best placed considering the once much-admired Anglo-Dutch business model long established by the likes of Unilever and Shell. 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.

Total takeover of Shell? Analysts aren’t buying it

ChannelNewsAsia: Total takeover of Shell? Analysts aren’t buying it

“A hostile takeover leaves the door open to a hostile counter takeover, and at that point, Royal Dutch is better placed financially to bid for Total than Total for Royal Dutch.”

16 August 04

PARIS: Amid speculation the French oil group Total could attempt a hostile takeover of rival Royal Dutch/Shell, remarks by a top Total executive and market analysts suggest the time is not right for such a move.

Total declined to respond directly to what it called market rumors, but a group spokesman referred to comments by financial director Robert Castaigne on August 5, when he said periods of high oil prices were not opportune for major acquisitions.

The spokesman said Monday: “A company like Total doesn’t change its strategy in the space of 10 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.

The Scotsman: Total bid for Shell is oil to the City gossip mill

The Scotsman: Total bid for Shell is oil to the City gossip mill

“Desmarest could make an audacious swoop for the Royal Dutch half alone – which itself is smaller than Total – and, therefore, would have voting control over the entire group.”

SCRUTINEER

JOHN BOWKER

SENIOR CITY CORRESPONDENT

Tue 17 Aug 2004

THERE have been some pretty wild takeover rumours in the City this summer, but few appear more outrageous than current whispers that Total might swoop for Shell.

The French company is much smaller than its UK-Dutch rival, with a market cap of £68 billion compared with £94bn. First impressions dictate that Total surely could not raise the cash, much less justify the buy to shareholders.

Another stumbling block is the extraordinary price of oil. The black gold was down slightly yesterday on the referendum success of Venezuelan president Hugo Chavez, but it remains close to Friday’s all-time highs at $46.05 a barrel. 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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