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June 1st, 2005:

Tax authority to fine Shell, Harvest and Eni this week – Venezuela

Business News Americas: Tax authority to fine Shell, Harvest and Eni this week – Venezuela

Posted 1 June 2005

(BNamericas.com) – Venezuela’s tax office Seniat will notify Anglo-Dutch company Shell, US company Harvest Vinccler and Italy’s Eni this week of fines corresponding to unpaid taxes from their operating agreements with state oil firm PDVSA, newspaper El Universal reported.

These are the first three companies to be fined by Seniat as part of its ongoing investigation into alleged tax evasion by 22 companies involved in 32 operating agreements with PDVSA, the paper reported. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Repsol to spend €21bn to help boost reserves

Financial Times: Repsol to spend €21bn to help boost reserves

By Mark Mulligan

Published: June 1 2005

Repsol YPF, the Spanish oil and gas group, plans to invest €21bn ($26bn) over the next five years as part of a new strategic plan aimed at lifting flagging reserves and reducing its dependence on Argentina and Bolivia.

The company, considered one of the most profitable refiners in the world, will spend €11.4bn on exploration and development, mainly in northern and western Africa, the Caribbean and the Middle East.

This compares with the €8.8bn earmarked under a former four-year plan that would have expired at the end of 2007. As part of the strategy, it is in exclusive talks with First Calgary, the London-listed exploration group, over joint development of large gas deposits in Algeria, where the Spanish company is already well established and has plans to build a gas liquefying plant. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Sakhalin II Project announces new Japanese sales agreement

OilOnline.com: Sakhalin II Project announces new Japanese sales agreement

Posted 1 June 05

By: OilOnline

Shell Gas & Power has announced that its joint venture Sakhalin II project has signed a Heads of Agreement for the long-term sales and purchase of up to 0.21 million tonnes per annum of LNG to Hiroshima Gas Co Ltd.

The agreement, for 20 years, is the fifth to be signed with a Japanese company and the first with Hiroshima Gas.

Sakhalin Energy and Hiroshima Gas will now continue to finalise the Sales and Purchase Agreement (SPA) with deliveries expected to commence in 2008. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Citigroup faces record FSA fine

Financial Times: Citigroup faces record FSA fine

By Päivi Munter in London

Published: June 1 2005

Citigroup faces the largest-ever fine imposed by UK regulators for a bond market deal following the transactions that shook eurozone government debt trading last August, people close to the investigation said yesterday.

They said the UK Financial Services Authority was expected to fine the US group for a lack of internal controls, rather than for market manipulation – a preferred outcome for Citigroup.

However, it is thought a fine could amount to millions of pounds – possibly exceeding the €17.5m ($22m) profit the bank made on the controversial transactions. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

PAI, the French private equity group, has reportedly joined the list of potential bidders for the liquefied petroleum gas distribution and marketing business of Royal Dutch/Shell

THE TIMES (UK): Need to Know: PAI, the French private equity group, has reportedly joined the list of potential bidders for the liquefied petroleum gas distribution and marketing business of Royal Dutch/Shell

June 01, 2005

Regal Petroleum, the troubled London oil exploration company, cut the level of oil reserves for its Greek operation from 80 million barrels to 24 million barrels, and reported an increase in full-year after-tax losses to $13.7 million (£7.5 million), from a $2.9 million loss last time, sending its shares down.

Mikhail Khodorkovsky, once Russia’s richest man and the former chief executive of its Yukos oil group, was sentenced to nine years in prison for tax evasion, after what many regarded as a politically motivated trial in Moscow. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Oil Rises to 3-Week High After Shell Shuts Texas Refinery Units

BLOOMBERG: Oil Rises to 3-Week High After Shell Shuts Texas Refinery Units

1 June 2004

June 1 (Bloomberg) — Crude oil rose to its highest in three weeks in New York after Royal Dutch/Shell Group shut two gasoline- making units at a refinery in Texas, heightening concern about auto fuel supply during the U.S. holiday season.

Oil rose for a seventh day, to the highest since May 10, after a pipeline rupture caused Shell to shut reformer units at Deer Park, the sixth-largest U.S. refinery. Plants usually run at more than 95 percent of capacity at this time of year to meet peak fuel demand for the vacation season that began last weekend. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.