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Posts on ‘September 28th, 2004’

Shell Says Chmn, E&P Head Met With Russian PM Wed

THE WALL STREET JOURNAL/DOW JONES NEWSWIRES: Shell Says Chmn, E&P Head Met With Russian PM Wed

DOW JONES NEWSWIRES

September 29, 2004 7:52 a.m.

LONDON — Royal Dutch/Shell Group (RD, SC) said Wednesday its senior management met with Russian Prime Minister Mikhail Fradkov to discuss “growth opportunities” in the oil-rich nation.

A spokesman for Shell in London said the company’s chairman, Jeroen van der Veer, and its head of exploration and production, Malcolm Brinded, met with Fradkov during his visit to The Hague Wednesday.

The spokesman, Simon Buerk, declined to specify which projects were discussed. read more

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Russian PM To Talk To Shell About Shtokmanov – Interfax

THE WALL STREET JOURNAL/DOW JONES NEWSWIRES: Russian PM To Talk To Shell About Shtokmanov – Interfax

DOW JONES NEWSWIRES

September 29, 2004 2:35 a.m.

MOSCOW — Russian Prime Minister Mikhail Fradkov said Tuesday that he will talk to representatives of Royal Dutch/Shell (RD) about the possibility of its investing in the Barents sea gas field Shtokmanov, the news agency Interfax reported Wednesday.

“We will talk to Shell about the possibility of them increasing their presence in Russian assets. We will discuss the possibility of the company increasing its involvement in the Shtokmanov and Sakhalin projects,” the agency quoted Fradkov as saying on arrival in the Netherlands for an official visit. 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

Nigerian violence pushes world oil prices to record

Daily Telegraph: Nigerian violence pushes world oil prices to record

“Violent clashes between soldiers and militants in Nigeria pushed the oil price to record highs yesterday as Shell airlifted out its workers.”: “Supertanker charges have risen by close to 80pc in the past two weeks, allowing owners to get four times what they need to break even.”

By Malcolm Moore, Economics Correspondent (Filed: 28/09/2004)

Violent clashes between soldiers and militants in Nigeria pushed the oil price to record highs yesterday as Shell airlifted out its workers.

During trading in London, the price of benchmark Brent crude for November delivery closed up 60 cents at $45.93 a barrel. In New York, the price of light crude was just below $50 as it gained 62 cents to $49.50.

Shell has lost around 30,000 to 40,000 barrels of oil a day from Nigeria as rebels in the Niger Delta fought soldiers. A spokesman for Shell said around 235 non-essential workers had been moved out of the area. 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

Days of cheap oil over as prices reach record levels

The Scotsman: Days of cheap oil over as prices reach record levels

“An industry source said that Shell has lost up to 40,000 barrels of daily oil production as violence swept across Nigeria’s Delta region.”

CATRINA STEWART

28 Sept 04

GLOBAL oil prices neared $50 a barrel yesterday, as they climbed to their highest levels on the back of an outbreak of violence in Nigeria.

US light crude oil, the American benchmark, peaked at $49.75 a barrel, its highest level in 21 years of trading on the New York Mercantile Exchange. Brent, Europe’s benchmark crude, also set new records, at $46.28 a barrel.

Prices eased in afternoon trading, but analysts warned that the era of cheap oil was over and predicted that futures would hit $50 a barrel later this week. 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

Crude hits new highs on Nigerian fears

Financial Times: Crude hits new highs on Nigerian fears: “Crude oil hit $50 a barrel in after-hours trading in New York on Monday evening…”: “Royal Dutch/Shell Group said it had shut up to 40,000 barrels per day of oil production for security reasons. Shell last week evacuated 235 staff from two oilfields as government troops launched raids on nearby communities to track down militants.”

By Kevin Morrison

Posted 28 Sept 04

Crude oil hit $50 a barrel in after-hours trading in New York on Monday evening on concern about supply disruptions in Nigeria, where rebels are threatening an uprising in the oil-producing region.

The latest unrest in Nigeria comes when oil markets are already concerned about supply issues in Iraq and Russia.

“While such periodic unrest has become somewhat common, the disturbance comes atop already heightened concerns about supply availability headed towards the northern hemisphere winter,” said Michael Rothman, chief energy strategist at Merrill Lynch. 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

Technology: Wanted: toolkit for global job ads

Financial Times: Technology: Wanted: toolkit for global job ads: “Shell, the multinational oil giant, had a multilateral problem.”

Published: September 28 2004

Shell, the multinational oil giant, had a multilateral problem.

It recruits across 145 markets worldwide and was having difficulty in creating a consistent global brand strategy. The scenario will be familiar to anybody in recruitment advertising. The company briefs the agency, which creates the ad, which goes back to the client for modification and approval and then back to the agency… and so on. It used to take 10 days and each market did its own thing.

Why, thought Navjot Singh, Shell’s global marketing manager, can’t we create an internally consistent advertisement in a few minutes? The answer was a website, created by Shell in conjunction with the web consultancy Adtool and the agency JWT, which hosts an ad creation toolkit accessible by every Shell office worldwide. 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

Nigerian fighting pushes oil price to record high

The Guardian: Nigerian fighting pushes oil price to record high

“”Once again the security situation in Nigeria is proving to be a real concern,” said Simon Wardell, oil analyst at World Markets Research Centre in London.”

Ashley Seager

Tuesday September 28, 2004

World oil prices set record highs of almost $50 a barrel yesterday as fears of disruption to Nigerian supplies spooked an already tight market and threatened to have a knock-on effect at garage forecourts.

The highest demand for oil in 25 years means global production is stretched to the limit, so news of fresh fighting between government troops and rebels in Nigeria’s oil-rich Delta pushed up prices.

US light crude futures rose 86 cents a barrel to $49.74, breaking the previous record of $49.40 set over a month ago. Brent crude surged 87 cents to a new high of $46.25. 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 unit purchase fuels DCC expansion

Financial Times: Shell unit purchase fuels DCC expansion: “DCC, the Irish sales and marketing group, has agreed to buy Shell Direct UK for €20.1m (£13.7m).”

By Tim Digby

Published: September 28 2004

DCC, the Irish sales and marketing group, has agreed to buy Shell Direct UK for €20.1m (£13.7m). The company said the business, which distributes heating oils and transport fuels in the UK, had annual turnover of about €300m and was expected to be “modestly profitable” in the first full year of ownership.

With an estimated working capital requirement of €3m, the total investment cost will be €23.1m.

Shell Direct UK has annual sales volume of about 600m litres and employs 500 people. 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

Nigerian rebels: ‘All-out war’ to start Friday

MSNBC: Nigerian rebels: ‘All-out war’ to start Friday

The rebel group’s leader, Mujahid Dokubo-Asari, accused Royal Dutch Shell, Nigeria’s largest oil producer… …of “collaboration with the Nigerian state in acts of genocide against our people.”

Dutch, Italian oil companies accused of ‘genocide’

Posted Sept. 28, 2004

LAGOS, Nigeria – The Nigerian rebel group fighting government troops in the oil-rich Niger delta said Monday it will launch “all-out war on the Nigerian state” beginning Friday and advised all oil companies to shut production by then.

The Niger Delta People’s Volunteer Force, in a communiqué issued after a meeting of its central command, also advised all foreigners to leave the delta, which pumps all of Nigeria’s production of 2.3 million barrels per day. 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 price soars over $50 a barrel

London Evening Standard: Oil price soars over $50 a barrel

“The rebel group accused Royal Dutch Shell, Nigeria’s largest oil producer, and Italy’s Agip of ‘collaboration with the Nigerian state in acts of genocide against our people’.”: ‘We now think that crude oil could reach $61,’ warned investment bank Morgan Stanley.

This Is Money

28 September 2004,

THE price of oil pushed past the psychologically important $50 a barrel this morning to an all-time high of $50.01 as the market stayed bullish on a slow post-Hurricane Ivan recovery in the Gulf of Mexico.

In Britain, motorists were warned to expect a 10p a gallon rise in petrol prices this week. Diesel is also expected to increase by more than 2p a gallon, say fuel retailers.

The record oil price was set in after-hours Asian trade on the New York Mercantile Exchange as continuing unrest in key producers Saudi Arabia, Iraq and Nigeria took effect. 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

Low Oil Inventories in U.S. Signal High Prices May Stay a While

THE WALL STREET JOURNAL: Low Oil Inventories in U.S. Signal High Prices May Stay a While

“Royal Dutch/Shell Group, the largest operator in Nigeria, has withdrawn nonessential personnel from Nigeria’s southern petroleum regions. Nigeria produces about 2.4 million barrels a day of highly desirable, light, low-sulfur oil.”

By BHUSHAN BAHREE

Staff Reporter of THE WALL STREET JOURNAL

September 28, 2004; Page A1

As oil prices headed toward $50 a barrel Monday, one of the world’s most important fuel gauges — U.S. commercial inventories of crude oil — signaled that the surge in prices may well continue.

Inventories in the U.S. have plunged substantially below last year’s level, confounding predictions by many analysts that stocks were building.

That may portend bigger jumps in the price as the Northern Hemisphere approaches winter, the season of peak oil use due to consumption of heating oil. To rebuild stocks and keep refineries humming, the actual users of oil — rather than speculators — are likely to snap up petroleum, keeping up the pressure on 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

Nigeria violence pushes oil price to new record

The Times: Nigeria violence pushes oil price to new record

“Shell said it had removed some 200 non-essential workers from an area close to Soku, where the oil company has a hub facility that collects gas from oil wells across the region for delivery to Nigeria LNG, one of the world’s biggest gas liquefaction plants, located on Bonny Island.”

By Carl Mortished, International Business Editor

September 28, 2004

THE price of crude oil made new records yesterday, flirting close to $50 per barrel in New York as traders reacted to continuing violence in oil- producing states, including Nigeria.

Rising tension in the Niger Delta renewed concerns about attacks on oil infrastructure in one of the larger Opec producer states. Anxiety about the repeat of last year’s production shutdowns in Nigeria and the killing of a French national in Saudi Arabia over the weekend sent the crude price climbing to $49.74 a barrel in New York, a record high for the Nymex light, sweet crude forward contract. 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 could quit Niger Delta

London Evening Standard: Shell could quit Niger Delta

“…“the latest outbreak of violence in Nigeria is simply the beginning of a civil war that could force Shell into a huge shake-up of its activities in the oil-rich country.”: “Shell’s links with Nigeria reached a low point nine years ago when Greenpeace said the giant had blood on its hands after the government executed activist Ken Saro-Wiwa.”

Steve Hawkes, Evening Standard

28 September 2004

ENVIRONMENTAL activists claim the latest outbreak of violence in Nigeria is simply the beginning of a civil war that could force Shell into a huge shake-up of its activities in the oil-rich country.

Shell has evacuated 235 staff from two oilfields as militants in the Niger Delta fight government troops. However, it claims to have managed to keep production at almost a million barrels a day.

But an escalation in violence would be likely to lead to a shutdown at a number of facilities, and would cast a shadow over the efforts of chairman Jeroen van der Veer to revive the business. 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 Gulf Storms Curtail Output

THE NEW YORK TIMES: Oil Nears $50 as Gulf Storms Curtail Output

“A spokesman for Royal Dutch/Shell, Andy Corrigan, said in London that Shell had evacuated 235 nonessential workers from the Port Harcourt region of Nigeria on Friday because of a “tense security situation.”

By JAD MOUAWAD

Published: September 28, 2004

Oil prices rose to another record yesterday but remained just below the $50-a-barrel mark, as traders expressed concern that recent hurricanes had hurt output in the United States at a time commercial supplies remained low.

On the New York Mercantile Exchange, oil for November delivery settled at $49.64 a barrel, up 76 cents, after touching $49.74 earlier in the session, the highest level since crude oil began trading on the exchange in 1983. The price rose above $50 a barrel in electronic trading after hours. 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 Charges Over $50 on Nigeria Threat

THE NEW YORK TIMES/REUTERS: Oil Charges Over $50 on Nigeria Threat

“Oil prices raced to new record highs above $50 on Tuesday as rebel threats against Nigerian oil facilities threatened to inflict further strain on global supplies.”: “Shell has already cut 30,000 to 40,000 bpd due to security curbs.: “U.S. crude stocks have fallen for the last eight weeks and are running at a 13 million barrel deficit compared with a year ago, at a time when they should be building ahead of winter.”

By REUTERS

Published: September 28, 2004

Filed at 8:08 a.m. ET

LONDON (Reuters) – Oil prices raced to new record highs above $50 on Tuesday as rebel threats against Nigerian oil facilities threatened to inflict further strain on global supplies.

U.S. light crude touched a high of $50.47 a barrel and at 1120 GMT, the contract was trading at $50.03, up 39 cents. London’s Brent crude set a new peak at $46.80 a barrel, before easing to $46.43, up 50 cents.

Oil has grabbed the financial market spotlight this year, surging 55 percent as rising consumption and the fallout from years of underinvestment in supply infrastructure tempts heavy buying from big-money funds. 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 Shuts Some Nigerian Oil Output as Tension Rises

Bloomberg: Shell Shuts Some Nigerian Oil Output as Tension Rises (Update1): “Violence in the Niger River delta, where Nigeria’s oil is produced, kills about 1,000 people a year, according to a confidential report funded by Shell.”

Sept. 28 (Bloomberg) — Royal Dutch/Shell Group’s Nigerian venture, which pumps almost half the oil in Africa’s biggest oil producer, closed an oil-pumping station and reduced the movement of staff after rebels threatened to attack oil installations.

The pumping station usually produces 28,000 barrels a day of oil, said Simon Buerk, a Shell spokesman in London, a small part of Shell’s daily output of more than 1 million barrels. Eni SpA and Total SA said their Nigerian oil output is unaffected. 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

Nigerian Oil Wells Marked Part of $15b Shell Investment

AllAfrica.com: Nigerian Oil Wells Marked Part of $15b Shell Investment

“Several top brass including chairman Philip Watts were ousted in the wake of Shell’s restatement of reserves. It later emerged that several senior executives had been aware of problems long before they were made public. The oil giant was fined a total of 150 million dollars by US and British regulators last month.”

Hector Igbikiowubo, With Agency Report

Vanguard (Lagos)

September 28, 2004

MAJOR Nigerian oil wells operated by Royal Dutch/Shell are to benefit from the company’s plan to increase it’s global annual capital investment to $15billion (about N2.04trillion)to boost spending on exploration and production, and make the replacement of its missing reserves a priority.

The company also served notice that it will, in addition, sell non-core assets and this is all aimed at restoring traumatised investor confidence. 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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