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Posts on ‘September 27th, 2004’

BP seeks go-ahead for European oil mergers

THE BUSINESS: BP seeks go-ahead for European oil mergers

“British oil giant BP, is lobbying the European Commission (EC) in Brussels to relax its competition rules to allow mega-mergers…”: “references to competition policy will stir speculation that it has Royal Dutch/Shell in its sights.

By Fraser Nelson

Political Editor

26/27 Sept 04

British oil giant BP, is lobbying the European Commission (EC) in Brussels to relax its competition rules to allow mega-mergers between French, British, Italian and Scandinavian oil companies.

Nick Butler, BP’s head of strategy, will warn the EC in a forthcoming article that Europe’s demand for energy is being increasingly matched by fuel-hungry countries such as India and China. He will say that European consumers’ interests lies in having oil firms large enough to cope with this challenge. For that to happen, he says, the rules must be relaxed. 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 ANNUS HORRIBILIS

FROM OUR SHELL NEWS ARCHIVE SEPT 2004

Daily Express (UK): SHELL’S ANNUS HORRIBILIS

Published 23 Sept 2004

Jan 9, 2004: Reserves downgraded; shares slump

Mar 7: Chairman Sir Philip Watts ousted

Apr 19: E-mails about ‘lying’ revealed

Apr 24: FSA launches probe

Jun 6: Shell forced to speed up structural reform

Jul 29: Fined £84m by US and UK watchdogs

Sep 22: New investment strategy

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 buy expands DCC UK business

Rte: Shell buy expands DCC UK business

“DCC’s energy division is to acquire the business and assets of Shell Direct UK for a total of €23m. Shell Direct supplies heating oils and transport fuels to domestic and commercial customers in Britain.”

September 27, 2004

DCC’s energy division is to acquire the business and assets of Shell Direct UK for a total of €23m. Shell Direct supplies heating oils and transport fuels to domestic and commercial customers in Britain.

The business will operate as a Shell branded distributor trading as Emo Oil. It has 36 depots across Britain and employs around 500 people.

DCC says the business has sales of around 600 million litres a year, which would give a turnover of around €300m at current energy prices. 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

Financial regulator doubles total fines

The Times: Financial regulator doubles total fines

“The recent fines record was dominated by the £17 million penalty meted out in August to Shell for repeatedly misleading shareholders over its oil and gas reserves.”

By Patrick Hosking, Investment Editor

September 27, 2004

THE duo running the Financial Services Authority have been accused of a “slash and burn” approach to punishing wrongdoers as it emerged that FSA fines have doubled in their first year in the job.

Callum McCarthy and John Tiner, who last week celebrated their first 12 months as chairman and chief executive respectively, have administered 25 fines totalling £27.3 million.

Sir Howard Davies, who was both chairman and chief executive, administered 13 fines totalling £12.5 million in his final year. 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

Oil Jumps to Record, Nearing $50, on Threat to Nigerian Supply

Bloomberg: Oil Jumps to Record, Nearing $50, on Threat to Nigerian Supply

“Royal Dutch/Shell Group’s venture in Nigeria evacuated 235 employees from the Niger River delta Friday amid clashes between government troops and armed militants.”

Sept. 27 (Bloomberg) — Crude oil rose to a record $49.74 a barrel in New York, its eighth straight gain, on concern rebels may target output in Nigeria as U.S. refiners struggle to meet their needs after Hurricane Ivan cut Gulf of Mexico supplies.

Oil is up 53 percent this year. Royal Dutch/Shell Group’s venture in Nigeria evacuated 235 employees from the Niger River delta Friday amid clashes between government troops and armed militants. In the U.S., declining oil inventories, now close to a 29-year low, led the government to agree to loan oil from its emergency stockpile so refiners can make gasoline. 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

Oil nears $50 as storms, global tension drive prices

USA TODAY: Oil nears $50 as storms, global tension drive prices

“In Nigeria, rebels seeking political reforms in the impoverished oil-producing Niger delta scored a success with the closure by Royal Dutch/Shell of a small 30,000 barrels a day. Shell evacuated some staff as a security precaution as government troops battle militia, threatening deliveries from the country that pumps 2.5 million barrels daily.”

27 Sept 04

WASHINGTON (AP) — Oil prices approached $50 a barrel Monday as domestic and foreign supply concerns persist amid strong global demand.

Crude oil for November delivery was up 52 cents, or 1.1%, at $49.40 in late afternoon trading on the New York Mercantile Exchange. Prices reached $49.74, the highest since futures began trading in 1983. Oil futures were up 75% from a year earlier.

Crude futures settled Friday at a record $48.88 a barrel. Adjusting for inflation, today’s prices are still more than $30 below the level reached in 1981 after the Iranian revolution. 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
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