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Posts on ‘August 19th, 2004’

Shell-led Russia venture to monitor rare whales

Date: 19-Aug-04
Country: RUSSIA
Author: Maria Golovnina

The International Whaling Commission passed a motion last month saying energy exploration could kill off the 100 or so remaining grey whales on the oil-rich shelf near Russia’s Pacific coast and asked for some surveys to stop.

Sakhalin Energy Investment Company Ltd., operator of the multi-billion dollar Sakhalin-2 project, described its monitoring plan as “the most comprehensive and largest whale project funded solely by industry for whales anywhere in the world.” 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 keeps the gas flowing in Bakersfield

LACityBeat.com: REFINERY REPRIEVE: “Under pressure from political leaders and activists, Shell keeps the gas flowing in Bakersfield”: “Their brand has been severely damaged from day one.”

By Dennis Romero

19 August 04

Under pressure from political leaders and activists, Shell keeps the gas flowing in Bakersfield

What do you do when the Federal Trade Commission, Sen. Barbara Boxer, and California Attorney General Bill Lockyer are dogging you like Michael Moore dogs the president? You buy time.

After feeling the heat from Washington and Sacramento, Shell Oil Co. announced last week that it’s keeping its Bakersfield refinery alive at least until December so that a suitable buyer can be found. The move spells relief for Golden State motorists, who surely would have paid even higher prices for gas if Shell closed the crucial plant October 1, as planned, in the name of profits. 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: Consultants check Cairn oil reserves

Daily Telegraph: Consultants check Cairn oil reserves

“pressure from investors to ensure that the reserves estimate presented to the City is watertight in the wake of the Shell debacle.”

By Christopher Hope, Business Correspondent (Filed: 19/08/2004)

Cairn Energy has hired a respected independent US oil reserves consultant to double-check the size of its four oil finds in Rajasthan, northern India.

The Scottish oil explorer feels the move is necessary to reassure investors after Shell shocked the market by downgrading its “proven” reserves tally by 23pc earlier this year.

Cairn has been a stock market sensation this year after its share price more than trebled following its Indian discoveries and it is now poised to enter the FTSE 100 early next month. 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.

Woodside confident of Tiof field prospects

Financial Times: Woodside confident of Tiof field prospects

By Virginia Marsh in Sydney

Published: August 19 2004

Woodside, the Australian oil and gas producer, yesterday held out the prospect of bringing forward development of its Tiof discovery in Mauritania, saying it expected the field to be at least as big as Chinguetti, its other large project in the African country.

Don Voelte, the group’s chief executive, said while Tiof was still being assessed it was sure to be developed and a four-well appraisal programme was under way.

If successful, the field, discovered last year, could become Woodside’s second source of production by 2008. 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.

Virtually no hiding place from long arm of computer detectives

Financial Times: Virtually no hiding place from long arm of computer detectives

“…fraud investigation is to turn on a “smoking gun” document…,”: “I am becoming sick and tired about lying about the extent of our reserves issues.”

By Bob Sherwood

Published: August 19 2004

If a commercial court battle, employee discrimination case or fraud investigation is to turn on a “smoking gun” document, the chances are it will have been recovered from a computer.

Oft-quoted statistics claim that about 90 per cent of documents generated by a business are created and stored electronically. Up to 70 per cent of them are never printed as a hard copy.

The value of searching for the killer e-mail has been demonstrated in a number of recent cases. Frank Quattrone, the most prominent investment banker of the internet era, was found guilty in the US in May of covering up an investigation into hot stock offerings at Credit Suisse First Boston, his former employer, at the height of the bull market. 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 Aviation Oil To Buy 20.6% Of Singapore Petroleum

THE WALL STREET JOURNAL: China Aviation Oil To Buy 20.6% Of Singapore Petroleum

“also in talks with Shell to buy over the latter’s 40% stake in an oil storage terminal in the northern Chinese port city of Tianjin.”

DOW JONES NEWSWIRES

August 18, 2004 7:57 a.m.

SINGAPORE — China Aviation Oil (Singapore) Corp. (C47.SG) will buy a 20.6% stake in Singapore Petroleum Co. (S99.SG) for S$291.5 million (US$1=S$1.7134) in cash and warrants, the Chinese company announced Wednesday.

In a statement, CAOS said it will pay the vendor, Satya Capital Ltd., S$227 million in cash and issue 208 million warrants that the holder can convert to 208 million SPC shares at an exercise price of S$1.52 a share.

The warrants have a fair value of approximately S$64.5 million, CAOS 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.

Shell : No Comment On Rumored New Latin America Sales

THE WALL STREET JOURNAL: Shell : No Comment On Rumored New Latin America Sales

“In Argentina, reports say that Shell ‘s 900 service stations and its refinery plants are the potential target of a joint bid”

DOW JONES NEWSWIRES

Posted 19 August 04

The sale of the Peruvian unit is part of Shell’s broader divestment plan, aimed at axing the company’s less profitable units. The company has also sold subsidiaries in Venezuela and Portugal recently.

In Argentina, reports say that Shell ‘s 900 service stations and its refinery plants are the potential target of a joint bid by Petroleos de Venezuela SA, or PdVSA (PVZ.YY), and Argentina’s new state-run company ENARSA. PdVSA has long spoken about acquiring service stations in Argentina. 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: After Shell, experts have Cairn over a barrel

Daily Telegraph: After Shell, experts have Cairn over a barrel

“Watching the lawyers circling over Shell, the Cairn directors probably think that whatever DeGolyer charges, they’ve got a bargain.”

19 August 04

Consultants check Cairn oil reserves

It’s unlikely that DeGolyer and MacNaughton will discover anything very surprising when they pick over the records at Cairn Energy, the luckiest oil company of 2004. That’s not really why the firm (“Knowledge, Integrity, Service”, says its website pompously) has been brought in.

Cairn found oil in such quantities in Rajasthan that its interest in a single block has propelled the company to almost certain membership of the FTSE100 index at next month’s redetermination. Nobody seriously doubts that the oil is there, but after Shell’s shocker with its reserves, Cairn has sensibly gone for one of the best names in the business to check its drilling results. 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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