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May, 2005:

North Sea gas find for Shell

Financial Times: North Sea gas find for Shell

By Clay Harris

Published: May 24 2005

Royal Dutch Shell said it had made a “significant discovery” of gas at its Onyx South West prospect in the Norwegian sector of the North Sea.

The Norwegian Petroleum Directorate said the Onyx discovery could approach 60bn standard cubic metres of produceable gas, subject to determining the limits of the deposit.

Shell declined to put any figure on the size of the discovery, but Rien Herber, its exploration director for Europe, said: “There are indications that we are dealing with a significant find.” read more

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Craig Group secures £20m Shell North Sea contract

THE HERALD (SCOTLAND): Craig Group secures £20m Shell North Sea contract

MARK WILLIAMSON May 23 2005

CRAIG Group has won a contract to supply Shell installations in the North Sea that could be worth as much as £20m as the oil and gas services firm continues to benefit from strong activity levels in its backyard.

Aberdeen-headquartered Craig’s International Supplies subsidiary has been appointed to supply all the oil giant’s rigs in the North Sea and some onshore plants, including the St Fergus terminal, with oilfield consumables like drilling accessories for five years. read more

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Diesel dreams burn brightly in tiny Qatar

Rocky Mountain News: Diesel dreams burn brightly in tiny Qatar

By Jim Krane, Associated Press

May 23, 2005

RAS LAFFAN INDUSTRIAL CITY, Qatar – The rat’s nest of pipes and columns snaking across the desert harbors a secret process that will use cobalt to turn natural gas into a powerful, clean-burning diesel fuel.

By next year, rulers of this tiny desert sheikdom hope, these gas-to-liquid reactors under construction will bring in billions of dollars while clearing big city smog belched by trucks and buses.

Petroleum experts who have sniffed vials of gin-clear GTL diesel speak of it with reverence. read more

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Protesters shut Shell office in Warri

BBC Monitoring Service: Nigeria

Posted 23 May 2005

Text of report report by Chido Okafor entitled “Protesters shut Shell office in Warri” published by Nigerian newspaper The Guardian website on 21 May

Protesters numbering about 1,000 yesterday afternoon paralysed operations at the Warri office of the Anglo-Dutch oil giant, Shell Petroleum Development Company (SPDC), forcing the firm to close all its entry points, apparently scared the protest would turn violent.

The protesters who are indigenes of the firm’s over 50 host communities in Delta State claim the oil giant had relocated the company’s ” strategic” departments from Warri to Port Harcourt, in Rivers State. read more

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Malaysia Star: World-class dialysis facility

Malaysia Star: World-class dialysis facility

22 May 2005

MIRI: Senior nursing students from medical colleges in Australia will be coming to the Miri Red Crescent Kidney Dialysis Centre for their practical training.

The centre’s chairman Lee Kim Shin, who is Assistant State Minister for Infrastructure Development and Communications, made the announcement yesterday at the official opening ceremony of the RM5mil centre by Chief Minister Tan Sri Abdul Taib Mahmud.

“Visitors from other countries, including those from the medical profession, have acknowledged that this centre has a world-class dialysis treatment facility. read more

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Mandarins on sale

Sunday Telegraph: Mandarins on sale

Sunday 22 May 2005

Labour and Tory leaders have desperately tried to people the civil service with private sector execs in the naive belief that their mere presence would unleash dynamism in the engine-room of government.

What has happened, in fact, is that the mandarins are taking over the FTSE100. Apart from the appointment of Lord Burns, a former Treasury permanent secretary, as Marks & Spencer’s chairman, Lord Kerr, a former head of the foreign office, is senior non-exec at Shell and is overseeing the search for the oil giant’s new chairman. read more

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2,000 more wind turbines in countryside

The Observer (UK): 2,000 more wind turbines in countryside

Sunday 22 May 2005

Minister pledges numbers will double to generate 10pc of UK energy within five years

Mark Townsend, environment correspondent

Sunday May 22, 2005

A massive expansion of wind power involving thousands of new turbines will go ahead despite increasingly bitter wrangling over claims that they are despoiling Britain’s countryside.

In his first speech since becoming energy minister, Malcolm Wicks, will offer unequivocal backing to the green lobby by insisting it is ‘vital’ the government rides out vocal opposition to windfarms and sticks with wind energy. read more

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CLIVE MATHER: Age: 57 President and CEO Shell Canada Ltd., Calgary

Financial Post (Canada): ‘Have running shoes, will travel’ is CEO’s business trip motto

Posted 22 May 2005

CLIVE MATHER: Age: 57 President and CEO Shell Canada Ltd., Calgary

Business “An integrated oil company on the move … we’re responding to a lot of very favourable stimuli in the environment; the biggest is the oilsands.”

Where do you travel on company business? “I typically do a lot of travel in Canada. That’s partially because I’m new here and I absolutely love the country, but I’ve also been trying very hard to get around and see our operations and meet key stakeholders.” read more

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Nigeria seeks to double oil exports

Mail & Guardian Online (South Africa): Nigeria seeks to double oil exports

By Dave Clark

22 May 2005

With the world’s demand for oil and gas surging, multinational energy giants have embarked on a platform-building spree off the southern coast of Nigeria with an eye to doubling exports from the unruly West African giant.

From the deck of Total’s Amenam platform, high above the surging blue waters of the Atlantic, visitors can see the bright orange gas flares of a half-dozen more wells through the haze in the middle distance.

In the foreground lie the half-built structures of future oil and gas rigs. read more

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ArabicNews.com (Syria): Shell Syria general manager Campbell Keir

ArabicNews.com (Syria): Shell Syria general manager Campbell Keir

Syria, Business, 5/21/2005

Shell has a policy worldwide to promote diversity. This policy is to encourage interaction in the workplace of Shell world, said Shell Syria general manger Campbell Keir in a statement to Arabicnews on Shell’s Syria sponsoring of the currently a big event in Syria — the International Forum on Women in Business held on May 21- 22.

Highlighting Shell’s history, Keir said that in the past 100 years Shell has been owned by Anglo-Saxon men especially at the service management level. As a global industry, he said “we want our workplace to reflect the nature of our business and benefiting of our clients.” On the special attention given to women, Keir explained that Shell has a policy to actively encourage the employment and development of women in Shell’s employees from different ethnic, cultural, ethical and cultural background. read more

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Oil Wells Refuse to Obey Chávez Commands

THE WALL STREET JOURNAL: Oil Wells Refuse to Obey Chávez Commands

Posted 21 May 2005

By MARY ANASTASIA O’GRADY

“We have a little problem,” Venezuelan President Hugo Chávez reportedly told Venezuelans on May 3, “and we are fixing it.”

The “problem” is the drop in output by the Venezuelan state-owned oil company known as PdVSA. The Chávez fixes, thus far, have entailed sending military troops to the oil-rich west of Venezuela to investigate “management errors” and allegations of sabotage, while in Caracas the government is threatening foreign oil companies with contract cancellations and tax hikes. read more

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Shell Lube back in Bangladesh

bangladesh-web.com: Shell Lube back in Bangladesh

Saturday May 21 2005

Shell Lubricants made a comeback re-launching its products in Dhaka on Thursday, four years after the Dutch oil giant left Bangladesh.

Ranks Petroleum Ltd, a concern of Rangs Group, will market Shell lube oils, which were earlier marketed by the Padma Oil Company, a subsidiary of the Bangladesh Petroleum Corporation.

Ranks was appointed sole distributor for Shell lubricant products in September 2004.

The state minister for energy and mineral resources, AKM Mosharraf Hossain, launched the Shell products at a function at the Hotel Sheraton Dhaka. read more

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Shell may ditch retirement at 60

Daily Mail: Shell may ditch retirement at 60

Posted 21 May 2005

SHELL might scrap one of its most hallowed privileges -retirement at 60 – for its Dutch staff. From 2006, it proposes a change to 65 for its Dutch bosses, including chief executive Jeroen van der Veer. It says this is driven by Dutch law. Implications for the UK are unclear.

Shell set out the change in its plan to combine its UK and Dutch arms into one company, Royal Dutch Shell, by July 20.

UK investors will get fewer shares, but these will have a higher value. A holder of 1,000 Shell Transport will get 287 B shares in RDS. With Shell now at 473p, this suggests the new B shares could start at 1646p. Dividends will be in sterling, with an option of euros. read more

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Royal Dutch Shell merger voting date fixed

Lloyds List: Royal Dutch Shell merger voting date fixed

Martyn Wingrove

May 20, 2005

SHAREHOLDERS of Royal Dutch Petroleum and Shell Transport will finally vote on merging the group into one entity next month and benefit from a $3bn-$5bn share buyback programme.

The Anglo-Dutch group is unifying its management and ownership to form Royal Dutch Shell following last year’s oil reserves scandal and after calls from leading shareholders to improve corporate governance.

The previous company went through a rough period last year as it slashed more than a quarter of its booked oil reserves and sacked chairman Philip Watts and its head of exploration and production. read more

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Timetable proposed for unified Shell

Financial Times: Timetable proposed for unified Shell

Posted 20 May 05

By Clay Harris in London

Shares in the unified Royal Dutch Shell will begin trading on July 20 under the timetable announced yesterday by the Dutch-UK oil and gas group.

The schedule was in line with previously outlined proposals to create a single company – incorporated in the UK but with its headquarters in the Hague – after nearly a century of federation between Royal Dutch and Shell Transport and Trading.

The new structure was proposed after a series of reserves restatements in 2004 raised questions about the group’s corporate governance. The plan needs to be approved by shareholders and the UK High Court on June 28. read more

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Under which Shell a new chairman?

Financial Times: Under which Shell a new chairman?

By Clay Harris

Published: May 20 2005

Now that Royal Dutch Shell has its date for unification, it’s time to turn attention to the next task, finding a new chairman. Aad Jacobs intends to stand down at the 2006 annual meeting, when the board wants to have an external candidate ready to take his place. The search is being led by Lord Kerr of Kinlochard, deputy chairman and senior independent director.

But Mudlark understands that some candidates have raised a surprising objection – none of them wants to live in The Hague, a requirement seen as non-negotiable. In the case of US candidates, there’s a cheeky temptation to blame the proximity of the International Court of Justice. But even Lloyds TSB chairman Maarten van den Bergh, were he not disqualified by already being on the board, is said not to be keen about living in The Hague. read more

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Shell buybacks to target Dutch shares after merger

Reuters: Shell buybacks to target Dutch shares after merger

Posted 20 May 05

By Tom Bergin, European Oil and Gas Correspondent

LONDON (Reuters) – Oil major Shell said its $3 billion to $5 billion buyback programme this year would target shares originating from its Dutch rather than UK holding company, after a planned merger of the two on July 20.

The world’s third-largest listed oil group by market capitalisation announced the final terms for the unification of its two parents in a statement on Thursday.

The creation of a new merged firm, Royal Dutch Shell, is designed to improve corporate governance after a damaging reserves overbooking scandal last year, which many investors blamed on the complex management structure. read more

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Daily Telegraph: Britons gain upper hand in Shell rejig

Daily Telegraph: Britons gain upper hand in Shell rejig

By Christopher Hope, Business Correspondent (Filed: 20/05/2005)

Shell’s British shareholders are likely to take a majority holding in the oil and gas giant for the first time in 100 years as a result of the company’s plans to simplify its dual listing next month.

The Anglo-Dutch company yesterday formally laid out its plans to unify its structure in the wake of the company’s annus horribilis last year when it admitted that it had exaggerated its proven reserves by 25pc. Shell’s current structure, in which the company is 60pc-40pc owned by Royal Dutch investors in the Netherlands and Shell Transport and Trading shareholders in the UK, dates from 1907. read more

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The Independent: Overhaul of Shell costs pounds 67m in fees

The Independent: Overhaul of Shell costs pounds 67m in fees

Michael Harrison Business Editor

May 20, 2005

Investment banks and other professional advisers have picked up $115m (pounds 63m) in fees from the corporate restructuring of the oil giant Royal Dutch Shell.

Details of the cost of transforming the Anglo-Dutch group into a single company with a unified board and one chairman and chief executive are contained in listing particulars being sent to shareholders.

The bulk of the pounds 63m in fees has gone to Shell’s three investment bank advisers, Citigroup, Rothschild and ABN Amro. Its lawyers ” Slaughter & May in the UK, De Brauw in the Netherlands and Cravath in the US ” have also picked up large fees, as have its two auditors, KPMG and PriceWaterhouseCoopers. read more

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Shell pays £63m in streamlining costs

The Guardian: Shell pays £63m in streamlining costs 

Terry Macalister

Friday May 20, 2005

Shell has been forced to pay $115m (£63m) in advisers’ fees and taxes to move from a dual-company structure to a more traditional unified board following its reserves scandal.

Documents released by the oil major last night make clear the huge cost of the shake-up, aimed to reassure investors that Shell’s management is becoming more streamlined.

A terse statement in the listings particulars states: “The aggregate costs and expenses payable by RDS [Royal Dutch Shell] group in connection with the transaction are estimated to amount to $115m.” Some will go to investment houses such as Deutsche Bank and ABN Amro, which are independent advisers to the British and Dutch arms of Shell respectively. Meanwhile, audit fees to KPMG and PricewaterhouseCoopers have soared from $32m in 2003 to $42m in 2004. read more

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Shell to Develop Chinese Gas Field With PetroChina

THE WALL STREET JOURNAL: Shell to Develop Chinese Gas Field With PetroChina

By MATT POTTINGER

Staff Reporter of THE WALL STREET JOURNAL

May 18, 2005; Page B2

BEIJING — Royal Dutch/Shell Group made a final decision to pour $600 million into developing an onshore gas field in China with PetroChina Co., representing a major foreign investment in the country’s natural-gas sector.

The long-planned project between the Anglo-Dutch energy titan and China’s largest oil company involves producing natural gas from the Changbei field in northwest China for sale to provinces and cities to the east, said Shell’s executive director of gas and power, Linda Cook, in an interview in Beijing. read more

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Malaysia Star: Shell Refining posts record first quarter net profit

Malaysia Star: Shell Refining posts record first quarter net profit

19 May 2005

SHELL Refining Company (Federation of Malaya) Bhd reported a record net profit of RM195.4mil in the first quarter ended March 31, up 60% from RM122.5mil in the same quarter last year.

Turnover rose to RM2.25bil for the quarter under review from RM1.53bil a year earlier.

Pre-tax profit was significantly higher at RM216.8mil in the first quarter, against RM137.2mil in the previous corresponding period.

Earnings per share improved to 65.13 sen from 40.82 sen a year ago.

A special interim dividend of 10 sen per share was declared. The company had benefited from an after-tax shareholding gain of RM138mil due to the overall increase in crude oil and product prices experienced during the first quarter of this year. read more

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Reuters: Shell sees board unification completed on July 20

Reuters: Shell sees board unification completed on July 20

Thu May 19, 2005 7:38 AM BST

LONDON (Reuters) – Shell said it expected to complete the unification of its Dutch and UK holding companies on July 20, a move designed to improve corporate governance after a reserves downgrade scandal.

The company said trading in shares in the newly unified group was expected to start on July 20.

Previously, the Anglo-Dutch oil group had a Dutch holding company — Royal Dutch — and a UK equivalent (Shell Transport & Trading) but many investors had said this structure was too complex. read more

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Royal Dutch/Shell to Be Unified, Ending Century-Old Dual Structure

THE WALL STREET JOURNAL: Royal Dutch/Shell to Be Unified, Ending Century-Old Dual Structure

By BENOIT FAUCON OF DOW JONES NEWSWIRES

May 19, 2005

LONDON — Royal Dutch/Shell Group Thursday said its two parent companies, The Hague-based Royal Dutch Petroleum Co. and London-based Shell Transport & Trading Co., will start trading as a single stock on July 20, ending a nearly century-old dual structure.

The Anglo-Dutch oil giant unveiled the final details of its unification plan, which will result in an organization with a single board, a U.S.-style chief executive and a nonexecutive chairman. Royal Dutch and Shell Transport will propose to their shareholders, who respectively own 60% and 40% of the company, to become subsidiaries of a new parent company, Royal Dutch Shell PLC. Shareholder approval is expected on June 28. read more

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Shell Group Parent Cos. to Trade As 1 Stock

Los Angeles Times: Shell Group Parent Cos. to Trade As 1 Stock

19 May 2005

By Associated Press

THE HAGUE, Netherlands — The two parent companies of multinational oil giant Royal Dutch/Shell Group said Thursday they will trade as a single stock, Royal Dutch Shell PLC, from July 20.

The Hague-based Royal Dutch Petroleum Co. and London-based Shell Transport & Trading Co. PLC will have been listed independently for nearly a century.

Unification plans were revealed on Oct. 28 that will create a management board with a U.S.-style chief executive and a non-executive chairman. Royal Dutch and Shell Transport and Trading will propose to their shareholders, who respectively own 60 percent and 40 percent, to become subsidiaries of the new parent company. read more

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Royal Dutch Shell and PetroChina go ahead with $600 million development of Changbei natural gasfield

THE TIMES (UK): Need to know

May 18, 2005

Need to know: Global Business Briefing

Edited by Neelam Verjee and Joe Bolger

Natural resources

(up 0.5%)

Russia has abandoned plans to merge Gazprom, the gas monopoly, with Rosneft, the state-owned oil group. The restrictions on foreign ownership of Gazprom shares will probably now be lifted.

BP, the UK oil and gas giant, has blamed staff failure for the explosion and fire in March that killed 15 workers and injured more than 170 at its Texas City plant.

Royal Dutch/Shell, the Anglo-Dutch oil giant, and PetroChina will go ahead with the $600 million (£328 million) development of the Changbei natural gasfield. read more

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Shell unit auction

THE TIMES (UK): Business in Brief

May 18, 2005

HP profits rise

Hewlett-Packard, the world’s second largest computer maker, reported net profits of $966 million (£525 million), or 33 cents a share, for the second quarter, compared with $884 million, or 29 cents a share, a year ago. Revenues rose 7.2 per cent to $21.6 billion, up from $20.1 billion.

Shell unit auction

Shell ended months of uncertainty by announcing plans to begin the £1.5 billion auction of its liquefied petroleum gas business in July. The oil company is close to completing an information memorandum for potential buyers of the unit and will open its data room in July. read more

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Shell International and Ferrari renew partnership to 2010

Canada NewsWire (press release): Shell International and Ferrari renew partnership to 2010

17 May 2005

MONTREAL: One month ahead of the Canadian Grand Prix, Shell Canada announced that its international affiliate has renewed its technical partnership with Ferrari for a further five years from 2006 until the end of 2010.

The contract details, which were not disclosed, define the terms under which Shell International will continue to provide fuels and lubricants to Ferrari’s road car division as well as its racing operation.

Luca Di Montezemolo, Ferrari President and CEO, Jean Todt, Ferrari Managing Director and Rob Routs, Shell Downstream CEO signed the renewed sponsorship contract in Imola, Italy at the San Marino Grand Prix late last month. read more

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Shell continues to promote entrepreneurial sprit by sponsoring the world’s largest gathering of entrepreneurs

AME Info: (United Arab Emirates): Shell continues to promote entrepreneurial sprit by sponsoring the world’s largest gathering of entrepreneurs

17 May 2005

Royal Dutch/Shell Group (Shell) has continued its support to entrepreneurs in the Middle East region by being one of the key sponsors of ‘Entrepreneurs in Dubai’, the International Entrepreneurship Forum and Exhibition (IEFE), which will be the world’s largest gathering of entrepreneurs and business leaders.

Hussain Al Mahmoudi, Shell External Affairs Manager.

The event, to be held from May 23-25, 2005, at the Dubai International Exhibition Center, will host more than 30 world renowned speakers who will share their success stories and experience with around 1500 delegates expected to gather at the forum. read more

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Tesco rewards Leahy with a £2m bonus

Financial Times: Tesco rewards Leahy with a £2m bonus

By Elizabeth Rigby and Sundeep Tucker

Published: May 17 2005

Sir Terry Leahy has received a bonus of more than £2m after Tesco became the first retailer in the UK to break the £2bn profit barrier this year.

The chief executive was paid a £2.08m bonus in a mix of cash and shares in the year to February 28. He also received a salary of £1.04m, taking his total pay to £3.19m, against £2.98m last time.

The board shared a pay-out of £12.8m, with the top five executive directors taking £8.54m.

Tesco paid a total of £220m in bonuses, which it claims is the largest pay-out ever for a UK company. About 2,000 top staff – including store managers – shared £38.2m, with the remaining £169m shared between 150,000 staff. read more

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Business Standard (India): Shell to invest Rs 3,000cr at Hazira Port

Business Standard (India): Shell to invest Rs 3,000cr at Hazira Port

Press Trust of India / New Delhi May 17, 2005  

Royal Dutch/Shell today said it plans to invest Rs 3,000 crore in setting up a bulk cargo and container terminal at Hazira Port, where it has built an LNG receiving terminal.

“We are in discussions with Essar Steel for setting up a bulk cargo terminal at Hazira. The cargo terminal would be for Essar Steel’s captive use,” Marc Den Hartog, director of Shell India told reporters.

For the container terminal, Shell is talking to several multinational firms, including Maersk, P&O Ports of Australia, Port of Singapore Authority (PSA) and Dubai Port International. read more

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Reuters: Shell and PetroChina to develop gas field

Reuters: Shell and PetroChina to develop gas field

Tue May 17, 2005

BEIJING (Reuters) – PetroChina and Royal Dutch/Shell said on Tuesday they would go ahead with the joint development of the China’s Changbei natural gas field, with Shell as the operator.

Development costs for the project over its full life cycle, including the drilling of around 50 wells over 10 years, central processing facilities and inter-field pipelines, are expected to reach around $600 million, the firms said in a joint statement.

The two have a production sharing contract for the field, which is spread across the Inner Mongolia autonomous region and Shaanxi province and has estimated reserves of 50 billion cubic metres. read more

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Shell, PetroChina to invest 600 million usd developing Changbei natural gas field

AFX Europe (Focus): Shell, PetroChina to invest 600 million usd developing Changbei natural gas field

17 May 2005

AMSTERDAM (AFX) – Royal Dutch/Shell Group and PetroChina Co Ltd said they have agreed to invest 600 mln usd developing the Changbei natural gas field in north China.

The field is located in Shaanxi Province and the Inner Mongolia Autonomous Region and is expected to deliver 3 bln cubic meters of gas per year by 2008, to the cities of Beijing, Shandong, Hebei and Tianjin.

Shell, which will be the operator of the project under a production sharing contract with PetroChina, today signed drilling and construction contracts for the field development. read more

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KEN SARO-WIWA FOUNDATION: CALL FOR EDUCATORS

KEN SARO-WIWA FOUNDATION: CALL FOR EDUCATORS

Posted 17 May 2005

The Ken Saro-Wiwa Foundation (KSWF) is looking for interested elementary and secondary teachers to participate in an education outreach program around the 10-year anniversary of the execution of Nigerian writer, human rights and environmental activist, Ken Saro-Wiwa.

The educational outreach program is part of a series of activities hosted by KSWF leading up to November 10th, 2005.

In 1995, Ken Saro-Wiwa and eight of his Ogoni (Nigerian community) colleagues were executed by the Nigerian Government following their campaign against the devastating environmental impacts of oil companies in their lands in the Niger Delta. read more

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BP refinery deaths top industry in U.S.

Among big oil companies, only Shell and its Houston-based refining companies came close to BP's death toll. Shell Oil Products, predecessor Equilon Enterprises and sister company Motiva Enterprises together recorded 11 deaths -- half the BP total.

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Showa Shell’s Group Net Profit Soars Amid Rise in Oil Prices

THE WALL STREET JOURNAL: Showa Shell’s Group Net Profit Soars Amid Rise in Oil Prices

By SHIGERU SATO OF DOW JONES NEWSWIRES

May 16, 2005

TOKYO — Showa Shell Sekiyu KK said its group net profit soared 90% in the first quarter amid strong domestic demand for kerosene, the main heating oil in Japan, and a rise in global crude-oil prices.

Group net profit rose to 10.93 billion yen ($101.8 million) from 5.77 billion yen a year earlier, the Japanese oil refiner and wholesaler said.

Group revenue rose 18% to 523.35 billion yen from 445.32 billion yen a year earlier as higher crude-oil import costs bolstered prices of the company’s wholesale refined products, such as kerosene and gasoline. read more

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London Evening Standard: ‘Green’ protesters target Shell

London Evening Standard: ‘Green’ protesters target Shell

Steve Hawkes, Evening Standard,

16 May 2005

FRIENDS of the Earth will launch its biggest protests of the summer annual general meeting season next month when it attacks Shell over a series of ‘broken promises’ to communities affected by the oil giant across the world.

The environmental pressure group is planning to bring campaigners from Russia, South Africa, Nigeria and Brazil to London ahead of Shell’s annual general meeting on 28 June.

It will also call on MPs to put pressure on the Anglo-Dutch titan to dramatically improve its environmental and social record. A cross-party briefing is likely to be held ahead of the annual meeting. read more

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BruneiDirect.Com: Marine Cadet Does Country Proud

BruneiDirect.Com: Marine Cadet Does Country Proud

15 May 2005

By James Kon

Bandar Seri Begawan – Eleven Marine Cadet Officers received certificates of completion after a three year training course, while six new marine cadets signed contracts to join Brunei Shell Tanker Sdn Bhd during a convocation ceremony for the `Marine Cadet Officers Class of 2001′ and a contract signing ceremony for `Marine Cadet Intake 2005.’

The ceremony took place at the JPCC Royal Berkshire Hall on Friday. read more

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Scotland on Sunday: Shops say it will be business as usual

Scotland on Sunday: Shops say it will be business as usual

15 May 2005

BY KATE FOSTER

RETAILERS are planning to remain open for business during the G8 march through Edinburgh’s city centre, but have admitted they could close if police advise them of any predicted trouble.

Concerns about a major shutdown were sparked when it emerged McDonald’s and Shell garages will close on the weekend of July 2, when 200,000 protesters are expected for a Make Poverty History march.

Although it is billed as a peaceful anti-poverty protest, there are fears among many that it may attract anti-capitalist and anti- globalisation extremists. read more

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A Look at the Gas – To – Liquids Ventures

THE NEW YORK TIMES: A Look at the Gas – To – Liquids Ventures

By THE ASSOCIATED PRESS

Published: May 15, 2005

Qatar hopes three key ventures will convert natural gas into more than 300,000 barrels per day of liquids, most of that diesel fuel, but also including naphtha, liquid petroleum gas and lubricating oil. The projects:

SASOL: The South African firm’s joint venture with state-owned Qatar Petroleum will be the first plant to come on line, producing 34,000 barrels a day by next year. A $6 billion expansion already is planned, with Sasol forming a GTL joint-venture with ChevronTexaco Corp. Then, the plant would be producing 100,000 barrels a day by decade’s end. read more

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Diesel From Natural Gas Could Cut Smog

THE NEW YORK TIMES: Diesel From Natural Gas Could Cut Smog

By THE ASSOCIATED PRESS

Published: May 15, 2005

RAS LAFFAN INDUSTRIAL CITY, Qatar (AP) — The rat’s nest of pipes and columns snaking across the desert harbors a secret process that will use cobalt to turn natural gas into a powerful, clean-burning diesel fuel. By next year, rulers of this tiny desert sheikdom hope, these gas-to-liquids (GTL) reactors under construction will bring in billions of dollars while clearing big city smog belched by trucks and buses. read more

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Reserving a seat at Woodlands Resort conference circus

Financial Times: Reserving a seat at Woodlands Resort conference circus

By Ian Bickerton

May 15, 2004

When Royal Dutch/Shell executives fly into Houston for their two-day conference, they will be destined for The Woodlands Resort.

The last leg of their journey to the sprawling conference complex of golf courses, pools and meeting rooms should make them more than ready for the oasis that awaits them.

For it will be on a crowded highway, lined with the fast-food restaurants and nondescript strip malls that crowd America’s interstate highways, interspersed with dozens of car dealerships, distinguished from each other only by the huge, floating plastic animals tied to the roofs: gorillas, dinosaurs and bald eagles.
read more

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Sakhalin’s treasures

Planet Porto Alegre (Brazil): Sakhalin’s treasures

14 May 2005

Shell wants the oil from the Russian Seas. Environmentalists denounce the risk of extinction regarding the Pacific Gray Whales

By Tiago Soares

Sakhalin Island is located in Western Russia. It is closer to Tokyo than to Moscow. This small island has been a reason of dispute between Russians and Japanese for centuries. Every year, between May and October, when the water is not frozen, gray whales go there seeking for food. In this part of the ocean there is not only a lot of fish- there are also natural oil deposits only comparable to the ones in the Middle East. Although the oil is not important to the gray whales, it does attract other terrible “predators” like Royal Dutch/Shell. read more

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Oil Firms Under The Gun In Revenue-Hungry Venezuela

THE WALL STREET JOURNAL: Oil Firms Under The Gun In Revenue-Hungry Venezuela

Posted 13 May 05

By PETER MILLARD Of DOW JONES NEWSWIRES

CARACAS — Venezuelan President Hugo Chavez, intent on getting more money from the oil industry to finance state programs, has sent private firms scrambling to get a grip on tax policy changes.

Venezuela has been changing the rules on oil taxes since last October, when it abruptly scrapped a royalty tax holiday on four heavy crude projects.

That was just the start. Early this year state-run Petroleos de Venezuela (PVZ.YY) bullied ConocoPhillips (COP) into a royalty rate hike on an eastern oil field, Corocoro. Then the Seniat national tax office reclassified the tax rate for 32 oil service contracts in April, hiking the rate to 50% from the 34% rate in the original contracts. read more

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Hong Kong Standard: Shell, PetroChina gas project revived

Hong Kong Standard: Shell, PetroChina gas project revived

Karen Teo

May 13, 2005

Royal Dutch/Shell still wants to play a big role in China’s gas sector. XINHUA

Failure to invest in PetroChina’s West-to-East gas pipeline megaproject has done nothing to dampen Royal Dutch/Shell’s enthusiasm to participate in other China gas projects.

The supermajor and PetroChina are close to signing a final agreement to jointly develop the Changbei gas field in northwest China’s Ordos Basin, Shell’s first onshore upstream development in the country, sources said. read more

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Shell Solar Gets 1.28 Mln Euro China Solar Power Contract

THE WALL STREET JOURNAL: Shell Solar Gets 1.28 Mln Euro China Solar Power Contract

Posted 13 May 05

DOW JONES NEWSWIRES

BEIJING — Shell Solar GmbH, has won a 1.28 million euro (CNY13.6 million) contract to provide solar power to 12 remote villages in Northwest China’s Qinghai province, the company said Thursday.

The solar photovoltaic unit of Royal Dutch/Shell Group (RD) will install systems producing up to 80 kilowatt peak of electricity for 551 households which up to now haven’t had electricity connections, a Shell statement said.

Installation is scheduled to be completed by the end of 2005, said Shell. read more

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Business Times (Malaysia): Shell unit to prepay outstanding balance of RM1.4b loans

Business Times (Malaysia): Shell unit to prepay outstanding balance of RM1.4b loans 

May 13 2005

SHELL Refining Co Bhd (SRC) said it will use a RM532 million syndicated term loan arranged by Bank of Tokyo-Mitsubishi to prepay outstanding balance of an existing loans of RM1.4 billion.

SRC signed the loan agreement with Bank of Tokyo-Mitsubishi in Kuala Lumpur yesterday.

Shell Malaysia chairman Datuk Jon Chadwick said the new term loan will enable the company take advantage of much more competitive financing rates as well as to improve its capital structure.

“This new term loan facility, which brings materially reduced financing costs and increased profitability to SRC and its shareholders, is testimony to our resolve and focus in achieving an optimal capital and financing structure for the company,” he told newsmen after the signing of the agreement. read more

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Repsol YPF considers joint bid for Royal Dutch Shell gas unit

THE TIMES (UK): Need to Know

May 13, 2005 

Repsol YPF, the Spanish- Argentine oil and gas group, said that it was in talks with private equity companies over a joint bid for the liquefied petroleum gas unit of Royal Dutch/Shell, which could be worth up to €3 billion (£2 billion). 

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Shell Forms $91M JV To Build Gas Pipeline In East China

THE WALL STREET JOURNAL: Shell Forms $91M JV To Build Gas Pipeline In East China

Posted 12 May 2005

DOW JONES NEWSWIRES

BEIJING — Royal Dutch/Shell Group (RD) said Wednesday it has agreed to form a joint venture with Hangzhou Gas (Group) Co. to build a gas pipeline in Hangzhou, in coastal Zhejiang province, marking Shell ‘s first move into China’s gas-distribution market.

The joint venture will have a total investment of US$91 million and will build, operate and manage a 117-kilometer pipeline and two city gate stations, Shell said.

Hangzhou Gas will hold 51% of the joint venture, Shell 39% and Hong Kong & China Gas Co. (0003.HK) the remaining 10%. read more

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Daily Telegraph: The poorly travelled need not apply

Daily Telegraph (UK): The poorly travelled need not apply

(Filed: 12/05/2005)

Globetrotting has become the norm as more firms seek managers with international experience, writes Lucie Carrington

If you want to get on, you need to get out, according to a report from The Daily Telegraph/Cranfield School of Management Recruitment Confidence Index.

The survey suggests that cross-cultural experience is becoming the norm for ambitious managers as a growing number of UK firms seek out senior people with international business experience.

Nearly half the organisations responding (42 per cent) say they have increased their international recruitment over the past five years. And nearly one in five (18 per cent) say the number of staff leaving to work abroad has also increased in that time. In addition, 20 per cent expect their senior managers to have spent time overseas. read more

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