Royal Dutch Shell Group .com Rotating Header Image

Posts on ‘September 2nd, 2004’

London Evening Standard: Shell mulls £2.2bn power stake sale

London Evening Standard: Shell mulls £2.2bn power stake sale

“TROUBLED oil major Shell is said to be considering selling its share of global power venture InterGen for an estimated $4bn (£2.23bn).”

Tom Nicholls,

2 September 2004

TROUBLED oil major Shell is said to be considering selling its share of global power venture InterGen for an estimated $4bn (£2.23bn).

‘We are continually reviewing our portfolio of assets, including our shareholding in InterGen, to meet changing market conditions and to release capital to fund growth opportunities,’ the company said.

Under the leadership of Jeroen van der Veer, who took over from Sir Philip Watts as chairman of the committee of managing directors in March following the oil and gas reserves reporting scandal, the company has been selling off underperforming and non-core assets. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Reuters: Shell weighs mega sale of power venture

Reuters: Shell weighs mega sale of power venture

“SULLIED REPUTATION”: “Shell’s reputation as a blue chip multinational was dragged through the mud this year after it revealed a 20 percent overbooking of its oil and gas reserves.”

By Charlie Zhu

Thu 2 September, 2004

SINGAPORE (Reuters) – Royal Dutch/Shell is expected to put its worldwide power venture InterGen up for sale with a multi-billion dollar price tag as part of a drive to put its house in order, bankers say.

The sale of the electricity generating business could lift group-wide profitability at the world’s third-largest oil firm, by dumping operations that underperform the core oil and gas portfolio.

InterGen, 68 percent held by Shell in a joint venture with U.S. building firm Bechtel, is operating or building capacity that bankers say is worth around $6 billion (3.3 billion pounds) including debt. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Daily Telegraph: City briefs: Shell fine

Daily Telegraph: City briefs: Shell fine

(Filed: 02/09/2004)

Shell has rejected a decision by the Nigerian senate requiring it to pay $1.5billion (£834m) in compensation for alleged environmental damage caused by its exploration and production activity in the Niger delta. The senate had failed to follow “due process” in imposing the fine, the oil giant said.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell looks at its dashboard

Financial Times: Observer: Shell looks at its dashboard

‘Observer thought the most notable thing about Shell’s “dashboard” was that the fuel gauge was too low.’

Published: September 2 2004

Royal Dutch/Shell employees might have thought for a moment yesterday that they had been sent an e-mail in error by Martin Lukes, whose travails at “a-b glöbâl” are chronicled in the Financial Times each Thursday.

But no, the internal memo about remuneration policy came from their own chief executive, Jeroen van der Veer. You could see, however, how such a mistake might be made.

Van der Veer outlined an “Enterprise First approach where what we do, how we act, how we think and what we say should be aligned to the betterment of the group” and how “this change in our hearts, minds and deeds” would be reinforced by the remuneration programme for 2005. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell rejects Nigeria’s $1.5bn damages claim

Business Report: Shell rejects Nigeria’s $1.5bn damages claim

‘According to the senate document, the legal panel reported “uncontradicted evidence” of massive oil spills at Shell facilities in Bayelsa state.’

By Sapa-AFP and Reuters

September 2, 2004

London – Royal Dutch/Shell rejected an order by the Nigerian senate yesterday for the oil giant to pay $1.5 billion (R9.96 billion) in compensation for damages caused in the Niger Delta, saying it had no legal basis.

Last week the senate adopted a motion ordering the payment to members of the Ijaw ethnic group for health and economic hardships resulting from oil spills at Shell facilities.

But a Shell spokesperson in London commented: “We believe that due process has not been followed. The reported order to pay compensation has no legal basis. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell’s Dunlin Alpha Oil Platform Reducing Gas Build-Up

THE WALL STREET JOURNAL: Shell’s Dunlin Alpha Oil Platform Reducing Gas Build-Up

“Shell experienced problems with gas build-up in the utility leg of another one of its platforms, Brent Bravo, last year. Two men were killed in that incident.”

DOW JONES NEWSWIRES

September 1, 2004 10:20 a.m.

Posted 2 Sept 04

LONDON — Workers at Royal Dutch/Shell’s (RD) Dunlin Alpha oil platform in the U.K. North Sea have removed about 75% of the gas build-up in one of the platform legs, a spokeswoman for Shell said Wednesday.

The platform was shut down Aug. 15 after a gas build-up was detected in the platform’s B-leg.

“The platform is stable – there are 25 people on board at the moment working on removing the gas,” she said. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com
%d bloggers like this: