Royal Dutch Shell Group .com Rotating Header Image

Posts on ‘August 18th, 2004’

Seoul to seek bidders for record 20-year LNG contract

Financial Times: Seoul to seek bidders for record 20-year LNG contract

By Andrew Ward and Song Jung-a in Seoul and David Pilling in,Tokyo

Published: August 18 2004 05:00 | Last updated: August 18 2004 05:00

South Korea will invite bids on Friday for its biggest liquefied natural gas supply contract, worth an estimated $25bn-$30bn (€20bn-€24bn, £14bn-£16bn) over 20 years. It underlines north-east Asia’s voracious appetite for energy.

Seoul’s willingness to sign a 20-year contract, longer than its previous gas supply deals, highlights a growing desire in the region to lock in long-term and reliable supplies of energy. 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 sells fuel business in Peru

Financial Times: Shell sells fuel business in Peru

By James Boxell

Published: August 18 2004 05:00 | Last updated: August 18 2004 05:00

Royal Dutch/Shell has continued its cull of underperforming assets with the sale of its fuels business in Peru to Chile’s Empresa Nacional del Petroleo (ENAP).

Shell did not disclose the value of the sale.

The Anglo/Dutch oil group said last month that it would sell non-core assets in the US and Peru, a move that would allow it to direct investment towards key countries such as Russia.

It has recently completed $1bn (£543m) of US pipeline and storage disposals, and is getting rid of its oil products businesses in Portugal and Spain. 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.

Sify:com (India): Shell, Essar in tussle over Hazaria

Sify:com (India): Shell, Essar in tussle over Hazaria

“breach of trust case by the Essar group, Shell’s Indian partner in the consortium”

Wednesday, 18 August 2004, 08:20

The LNG terminal and regassification plant at Hazira, being put up by the Royal Dutch/ Shell Group through two special purpose vehicles (SPVs) – Hazira Port Pvt Ltd (HPPL) and Hazira LNG Pvt Ltd – is in the eye of a storm that is threatening to gather momentum in the coming days.

The $700-million Hazira project, expected to be commissioned by late 2004, is facing a breach of trust case by the Essar group, Shell’s Indian partner in the consortium that was granted the letter of intent (LoI) by the Gujarat Maritime Board (GMB) in 1999. 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.

Bloomberg: Venezuela Studies Purchase of Shell’s Argentine Units

Bloomberg: Venezuela Studies Purchase of Shell’s Argentine Units

“Shell… earlier today sold its gasoline stations in Peru to Chile’s state oil company for $41 million”

Posted 18 August 04

Petroleos de Venezuela SA, South America’s largest oil producer, is studying the purchase of Royal Dutch/Shell Group’s chain of Argentine gasoline stations in a venture with that country’s state oil company, Venezuelan Energy and Mines Minister Rafael Ramirez said.

“A joint venture, with the new oil company of Argentina, is one of the possibilities,” Ramirez said, responding to a question about a possible purchase after a press conference in Caracas, Petroleos de Venezuela’s headquarters. Carlos Garcia, a spokesman for Shell in Argentina, declined to 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.

Shell: Total speculation

CommentWire.com: Shell: Total speculation

Shell has reportedly admitted that it is vulnerable to takeover by France’s Total.

Posted 18 August 04

(Datamonitor) – The furor over Shell’s reserve estimate downgrades makes it vulnerable to a takeover by France’s Total, according to the UK’s Observer newspaper. However, with high oil prices fuelling an intemperate M&A climate and Shell being in a stronger position than has been portrayed, such an occurrence seems rather unlikely.

The Sunday newspaper’s suggestion that Shell bosses fear Total “will launch a raid” on the troubled Anglo-Dutch energy group is the latest snippet of conjecture to emerge from the mass of rumors that have swirled around the oil majors in recent months. 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 might just be too big for Total to swallow

Business Report: ‘Shell might just be too big for Total to swallow’

“In Paris and London, oil analysts deemed a hostile takeover bid possible but…”

August 18, 2004

By Delphine Toitou

Paris – Amid speculation 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 rumours, but a group spokesperson 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 spokesperson said on 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.

P684.6-million tax case against Pilipinas Shell Petroleum Corp

abs-cbnnews.com (Philippines): “Shell used fraudulently acquired tax-credit certificates to settle its liabilities with the government”

BIR appealing P.7-B case vs Shell; solons vow probe

By DAXIM LUCAS and JODEAL CADACIO

TODAY Reporters

18 August 04

The Bureau of Internal Revenue (BIR) will appeal the recent decision of the Court of Tax Appeals (CTA) to dismiss a P684.6-million tax case against Pilipinas Shell Petroleum Corp., one of two oil companies accused of using fraudulently obtained tax-credit certificates.

BIR officials declared their plan to appeal the case, as lawmakers denounced the apparent bungling by unidentified officials of several cases that caused the State to lose nearly P2 billion in collection cases, and vowed an investigation. 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.

U.S. Oil Concerns Are Lining Up To Bid on Rights for Libyan Crude

THE WALL STREET JOURNAL: U.S. Oil Concerns Are Lining Up To Bid on Rights for Libyan Crude

“But National Oil Corp. has yet to firm up a deal with Royal Dutch/Shell Group after signing a preliminary agreement in March”

By KAREN MATUSIC

DOW JONES NEWSWIRES

August 18, 2004; Page A2

WASHINGTON — U.S. oil companies keen to get their first chance to do business in Libya in 18 years are expected to be active participants in the former pariah state’s first post-sanctions licensing round.

Given soaring crude-oil prices and the likelihood Iraq will be off limits to foreign oil companies until the violence subsides and an elected government is installed, interest in the Libyan round will be high, industry executives said. 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.

Exxon Aramco?

THE WALL STREET JOURNAL: ExxonAramco?

By RIAD A. AJAMI

August 18, 2004; Page A10

Even as Western leaders proclaim growth and promise hope, recent oil-price increases continue to fuel anxieties and herald trouble in world markets. OPEC’s impractical quota system, increasing demand (especially in the U.S. and China), and the resulting inadequate oil supply are driving price increases. The political conditions in Iraq, Venezuela and Russia, as well as paranoia and the threat of terrorism, have also contributed. Such conditions will continue to influence oil markets until we enhance spare capacity and meet growing demand. 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: A word in your Shell-like

Daily Telegraph: A word in your Shell-like

“The guest speaker will make ‘particular reference to the importance of trust in business’. He’s Clive Mather, president and chief exec of Shell Canada.”

City diary

Edited by Simon Goodley (Filed: 18/08/2004)

The Evangelical Alliance’s Temple Address “provides an important opportunity for those who hold responsible positions in business, public life and the church to hear the Christian response to the challenges facing society,” gushes my invitation.

This year’s takes place on October 27 on the subject of valuing trust and I reckon they’ll shift more tickets than the Olympics.

The guest speaker will make “particular reference to the importance of trust in business”. He’s Clive Mather, president and chief exec of Shell Canada. 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.

Reuters: Shell to resume drilling in Brazil next year

Reuters: Shell to resume drilling in Brazil next year

By Andrei Khalip

Wed 18 August, 2004

RIO DE JANEIRO, Brazil (Reuters) – Royal Dutch/Shell will resume drilling works in Brazil early next year at its BC-10 Campos basin block where it has already found oil, a top Shell official says.

John Haney, vice president for exploration and production for the Anglo-Dutch energy company in Brazil, said on Tuesday it had found “intermediate” grade API 18-25 oil there and was evaluating the discoveries. Its last well was drilled a year ago.

Apart from that, it has found oil at its Santos basin BS-4 block and at Campos blocks BC-2 and BMC-14 that are operated by Frances’ Total. Shell already operates or participates in the exploration of 11 prospecting areas, or oil blocks, in Brazil. 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.

Whitehall is told to cut red tape for wind farms

Daily Telegraph: Whitehall is told to cut red tape for wind farms

“Sita Dickson, of Shell International, said… Shell was keen to see “better, joined-up Government”.

By Richard Tyler (Filed: 18/08/2004)

The Cabinet Office has intervened in the commissioning of offshore wind farms in an attempt to speed up the process.

The move has been requested by Shell and is backed by the British Wind Energy Association and the Department for the Environment, Food and Rural Affairs.

The industry is keen to avoid the bureaucracy that has delayed planning applications for onshore wind farms by more than three times the official target.

It feels the myriad government departments involved with offshore farms could communicate more effectively. 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 to sell power plants to raise $2bn

Financial Times: China to sell power plants to raise $2bn

“investors including Royal Dutch Shell and Bechtel became mired in a dispute with local authorities”

By Francesco Guerrera in Hong Kong and Mure Dickie in Beijing

Published: August 18 2004 05:00 | Last updated: August 18 2004 05:00

* Disposal will provide crucial funds for upgrade

* Beijing is attempting to avoid energy crisis

China is preparing to sell up to 11 power plants in a move that could open its fast-growing energy market to foreign companies and raise some $2bn to alleviate electricity shortages.

The State Grid Corporation of China is believed to have appointed Goldman Sachs and UBS to manage the sale, which is expected to begin in the next few months. 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.
%d bloggers like this: