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Posts on ‘June 9th, 2005’

Shell Adopts New Rules On ‘Proven’ Oil Reserves

THE WALL STREET JOURNAL: Shell Adopts New Rules On ‘Proven’ Oil Reserves

9 June 2005

DOW JONES NEWSWIRES

LONDON — Royal Dutch/Shell Group Thursday published new internal rules on booking oil reserves that were revised to meet U.S. regulatory guidelines and help put behind it a scandal that unfolded last year.

The Anglo-Dutch oil major — which has cut its estimate of reserves by more than a third in the past year and a half — had been criticized for some of its former accounting practices, such as booking reserves on projects in which investment plans hadn’t been approved. read more

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Shell unveils reserves rules for SEC compliance

Houston Chronicle: Shell unveils reserves rules for SEC compliance

9 June 2005

Dow Jones / AP

LONDON — Today Royal Dutch/Shell Group published new internal rules on booking oil reserves that were revised to meet U.S. regulatory guidelines and help put behind it a scandal that unfolded last year.

The Anglo-Dutch oil major, which cut its estimate of reserves by over a third since last January, aims to address criticism of former accounting practices, such as booking reserves on projects in which investment plans hadn’t been approved.

Under its new rules, Shell said that for a major field of 50 million barrels of oil equivalent or more, the final investment approval must be received before a project is booked in its reserves. 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

Plastic plant gives BP a way in to Saudi Arabia

The Guardian: Plastic plant gives BP a way in to Saudi Arabia

Terry Macalister

Thursday June 9, 2005

BP has won a vital foothold in the world’s largest oil producing country, Saudi Arabia, by agreeing a $2bn (£1.1bn) deal to build one petrochemical plant there with the possibility of a second.

The move also promises to boost the chances of a successful stock market float for BP’s Innovene petrochemical business, which was hived off into a separate company in April.

A memorandum of understanding has been signed by Innovene with Saudi-based Delta International to construct a “cracker” unit able to convert cheap local natural gas into ethylene for plastic wrappers and other products. 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: Tilting at wind power

Daily Telegraph: Tilting at wind power

9 June 2005:

“Just then they came in sight of thirty or forty windmills that rise from that plain. And no sooner did Don Quixote see them than he said to his squire, ‘Fortune is guiding our affairs better than we ourselves could have wished. Do you see over yonder, friend Sancho, thirty or forty hulking giants? I intend to do battle with them and slay them. With their spoils we shall begin to be rich for this is a righteous war and the removal of so foul a brood from off the face of the earth is a service God will bless’.” 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

Australia’s North-West Shelf gas project 2 bln aud expansion approved – report

AFX Europe (Focus): Australia’s North-West Shelf gas project 2 bln aud expansion approved – report

9 June 2005

SYDNEY (AFX) – The partners in Australia’s massive North West Shelf gas project have approved a 2 bln aud expansion to exploit soaring demand for liquefied natural gas from customers in China and Japan, The Australian Financial Review reported without citing sources.

It said official confirmation of the expansion is expected within days and is timed to allow the project partners, led by Woodside Petroleum, to retain the bulk of the workforce from an earlier 2.9 billion aud expansion. 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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