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June, 2005:

The Guardian: ‘The boat is sinking’

The Guardian: ‘The boat is sinking’

15 June 2005

As our appetite for oil hastens climate change, who will speak out for the alternatives? One possible champion is Lord Ron Oxburgh, the distinguished geologist who also happens to be chairman of Shell. He tells Aida Edemariam why the time for complacency is over

Wednesday June 15, 2005

When Lord Ron Oxburgh visited the Hay festival a couple of weeks ago he arrived during a spell of weather best described as unsettled. A record-breakingly warm Friday was followed on Saturday by a wild, gusting wind and, in the festival marquees, a great howling and a flapping of canvas. 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.

Exxon Mobil-led jv to develop Australia’s Kipper offshore gas field

AFX Europe (Focus): Exxon Mobil-led jv to develop Australia’s Kipper offshore gas field

Jun 15, 2005

SYDNEY (AFX) – Esso Australia, a subsidiary of Exxon Mobil Corp, said the partners in the Kipper gas field in Australia’s Bass Strait have agreed to develop the project, with first gas expected to flow into southern Australian markets in 2009.

Esso is the project operator, with an 32.5 pct interest under a revised equity agreement. BHP Billiton also holds 32.5 pct, while Woodside Petroleum Ltd, which is about one-third owned by Shell, has 21 pct and Santos Ltd 14 pct.

Esso said the project partners have agreed on the key terms and conditions for processing gas from the Kipper field through Esso and BHP Billiton’s existing onshore infrastructure and processing facilities in the Gippsland district of the Australian state of Victoria. 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.

Lex: Oil prices

Financial Times: Lex: Oil prices

Wednesday 15 June 2005

The only certainty about the oil price is the inability of forecasters to predict it. Ask a New York futures trader what the long-term oil price is and the current answer will be $54 a barrel for 2011. Analysis by Goldman Sachs suggests that European oil sector equity valuations discount a longer-term forward Brent crude price of $30. Integrated oil companies, however, are still using prices of $20-$25 to assess investment projects.

Faced with such confusion, investors are taking a very short-term view. Citigroup highlights the close correlation this year between European sector performance and daily movements in one-month forward Brent crude prices. With the industry returning cash, investors, understandably, are focusing on near-term cash flows. The macroeconomic picture for the oil market looks bullish for the latter half of the year. On recent trends, this suggests further sector upside. 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.

Shell Malaysia: Refining Margin To Stay Strong Near Term

Yahoo Business News: Shell Malaysia: Refining Margin To Stay Strong Near Term

14 June 2005

KUALA LUMPUR (Dow Jones)–Shell Malaysia Chairman Jon Chadwick said Tuesday that he expects refining margins at Shell’s refinery unit to remain strong in the near term.

“First quarter was excellent and this bodes well for the rest of the year,” Chadwick told Dow Jones Newswires on the sidelines of the Asia Oil and Gas Conference being held here.

According to Chadwick, Shell Refining Co. (4324.KU) recorded a complex refining margin of $5.69 a barrel in the first quarter, up from $4.55/bbl in the same period last year. read more

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Digging In Exxon Chief Makes A Cold Calculation On Global Warming

THE WALL STREET JOURNAL: Digging In Exxon Chief Makes A Cold Calculation On Global Warming

BP and Shell Concede Ground

As Raymond Funds Skeptics

And Fights Emission Caps

A ‘Reality Check’ on Kyoto

By JEFFREY BALL

Staff Reporter of THE WALL STREET JOURNAL

June 14, 2005; Page A1

ANNANDALE, N.J. — At Exxon Mobil Corp.’s laboratories here, there isn’t a solar panel or windmill in sight. About the closest Exxon’s scientists get to “renewable” energy is perfecting an oil that Exxon could sell to companies operating wind turbines.

Oil giants such as BP PLC and Royal Dutch/Shell Group are trumpeting a better-safe-than-sorry approach to global warming. They accept a growing scientific consensus that fossil fuels are a main contributor to the problem and endorse the 1997 Kyoto Protocol, which caps emissions from developed nations that have ratified it. BP and Shell also have begun to invest in alternatives to fossil fuels. 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.

Shell takes three-year extension on Maersk Curlew contract

Lloyds List: Shell takes three-year extension on Maersk Curlew contract

Tuesday 14 June 2005

Anglo-Dutch group set to develop further satellites as FPSO gets new lease of life that will see it through to 2008, writes Martyn Wingrove

SHELL is making a commercial commitment to develop more of the fields surrounding the Maersk Curlew production ship after extending its lease for another three years.

The Anglo-Dutch oil major had its eye on developing satellites to the floating production storage offloading vessel for the past five years and seems to be willing to make further progress after extending its lease with Maersk Contractors. 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.

The Jakarta Post: Shell hopes Brunei, Malaysia, Indonesia resolve maritime disputes soon

The Jakarta Post: Shell hopes Brunei, Malaysia, Indonesia resolve maritime disputes soon

14 June 2005

KUALA LUMPUR (AFP): Royal Dutch/Shell said on Tuesday it hopes territorial disputes over oil-rich maritime areas involving three Southeast Asian countries will be resolved quickly to enable exploration to go ahead.

“Our resources are there. The earlier the better but we do not want to interfere,” Dominique Gardy, Singapore-based chief executive officer with Shell exploration and production said on the sidelines of the Asia Oil and Gas conference.

“If and when the solution is in place, then we can develop there sources,” he told AFP. “We are just on standby waiting for a government-to-government decision.” 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.

The Guardian: LETTER FROM Dr Antony Wyatt

The Guardian: LETTER FROM Dr Antony Wyatt

14 June 2005

Naomi Klein (A noose, not a bracelet, June 10) asks “how about if Africa’s oil wealth was used to save Africa?”. The article repeats the commonly held view that Shell pumps out the oil and exports the profits and Nigeria gets a poor deal. Readers of the Guardian deserve a more honest picture.

Like companies working in the North Sea, Shell works under agreements with the Nigerian government. The bulk of the profits goes to the Nigerian National Petroleum Corporation, effectively a branch of the Nigerian government, which also receives tax revenue on the profits of foreign companies. So the truth is that the majority of the profit from oil already goes into Nigerian hands. The problem is the priorities of the people who control that money. 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.

STRONG DEMAND LIMITS OPECS LEEWAY

THE NEW YORK TIMES: STRONG DEMAND LIMITS OPECS LEEWAY

By SIMON ROMERO

Published: June 14, 2005

VIENNA, June 13 – OPEC representatives arriving for a meeting here this week said that they were prepared to lift their oil production ceiling in an effort to bring down high crude oil prices, but emphasized that strong global demand for oil limited their ability to influence markets.

“OPEC members are already pumping at full capacity and can do nothing about prices,” Bijan Zanganeh, the oil minister of Iran, OPEC’s second-largest producer behind Saudi Arabia, said in Tehran before traveling to Vienna. 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.

Shell Announces Scholarship Winners

allAfrica.com: Shell Announces Scholarship Winners

Posted Tuesday 14 June 2005

Daily Trust (Abuja)

Hamisu Muhammad

About one thousand students from Nigerian universities and host communities will be awarded the Shell Petroleum Development Company of Nigeria scholarships for the entire duration of their courses.

The Shell university scholarship scheme is part of the company’s contribution towards the educational development of the nation. Every year more than 3000 Nigerian undergraduates write aptitude tests to join the ever- growing list of students which Shell supports in Nigerian universities. 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.

Investors warned over cost of greenhouse gas

Financial Times: Investors warned over cost of greenhouse gas

By Fiona Harvey

Published: June 13 2005

The UK’s biggest emitters of greenhouse gases are revealed this week, with a warning to shareholders that they should take the potential cost of climate change into account when investing.

Shell, the oil producer, is responsible for 23 per cent of emissions of the FTSE 100, while BP, its rival, and Scottish Power, the electricity and gas supplier, are joint second with 17 per cent of the total each.

Corus, the Anglo-Dutch steel producer, accounts for 6 per cent, and BHP Billiton, the mining group, 4 per cent. 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.

AME Info (United Arab Emirates): Mubadala Development and Shell sign MOU

AME Info (United Arab Emirates): Mubadala Development and Shell sign MOU

Monday 13 June 2005

HH General Sheikh Mohammed bin Zayed Al Nahyan attended a ceremony held at his palace to sign a Memorandum of Understanding (MOU) between Mubadala Development Company, a wholly-owned investment and development vehicle of the Government of the Emirate of Abu Dhabi, and Shell EP International Ltd, which is intended to lead to the formation of a strategic alliance.

The MOU provides the general framework upon which Mubadala Development and Shell will form the alliance, which is expected initially to focus on the Middle East and North Africa, outside Abu Dhabi. Areas of cooperation are likely to include the economic development of new and existing hydrocarbon resources, and the research and development of economically viable and environmentally acceptable energy solutions. 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.

North West Shelf Slated to Undergo LNG Expansion

THE WALL STREET JOURNAL: North West Shelf Slated to Undergo LNG Expansion

By STEPHEN BELL
DOW JONES NEWSWIRES
June 13, 2005

PERTH, Australia — Targeting growing energy demand in China and the U.S., Australia’s Woodside Petroleum Ltd. said Friday that its partners in the North West Shelf venture have approved a A$2 billion (US$1.5 billion) liquefied-natural-gas expansion.

Coming after last year’s A$2.7 billion upgrade, the latest investment means the Shelf will have doubled its LNG capacity in four years by the time the expansion is finished in mid-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.

The Observer: It just won’t work: By Ken Wiwa

The Observer: It just won’t work: By Ken Wiwa

Posted 13 June 2005

Tony Blair’s desire to save Africa is admirable; his ideas are not

By Ken Wiwa

Watching Tony Blair go about his Africa business is an act of faith: you either believe or you are forced to suspend your disbelief. I admire the drive and determination with which he is trying to purge what he sees as a ‘stain on the world’s conscience’, but when he speaks of my continent like that, I wonder who his audience is: African or European?

Africans are nothing if not humble, but there is something about having your continent referred to as a stain on the world’s conscience that makes even the most docile of us queasy with indignation. None the less, I know what Mr Blair means or at least which audience he is talking to. 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.

Shareholders in last-ditch fight with Shell

THE SUNDAY TELEGRAPH: Shareholders in last-ditch fight with Shell

12 June 2005

BY PAUL FARROW

THE ASSOCIATION of Private Client Investment Managers and Stockbrokers is to meet Shell, the oil giant, next week in a last-ditch attempt to save Royal Dutch shareholders from capital gains tax bills running into thousands of pounds.

Apcims has received more than 300 calls and letters from angry shareholders since it emerged two weeks ago that they would be saddled with huge CGT bills when the

planned merger of Royal Dutch and Shell Transport & Trading goes ahead on July 20. 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.

Manila Bulletin (Philippines): Shell to open first CNG facility

Manila Bulletin (Philippines): Shell to open first CNG facility

Sunday 12 June 2005

Pilipinas Shell Petroleum Corp. is scheduled to open today the country’s first ever compressed natural gas (CNG) mother refuelling station in Tabangao, Batangas and its daughter station.

The facility is expected to benefit an initial fleet of 200 CNG-fed public utility buses.

The project is Shell’s response to clamor for cheaper alternative fuel which is also environment friendly. It means to supply public transport buses with natural gas produced by the Malampaya Deep Water Gas-to-Power project offshore under the government’s Natural Gas Vehicle Program for Public Transport (NGVPPT). 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.

Farmers try to halt Mayo gas pipeline

THE SUNDAY TIMES (UK): Farmers try to halt Mayo gas pipeline

June 12, 2005

Scott Millar

MAYO farmers have formed an unusual alliance with left-wing activists in a bid to obstruct the construction of Shell’s Corrib gas pipeline.

The landowners received training in protest tactics a month ago from the veteran demonstrators, who are also opposed to the project on environmental grounds.

Work on the pipeline, which will consist of 10 kilometres overground and another 70 kilometres offshore, had been due to start this weekend but was stopped by members of the local community. Seven farmers whose land is subject to a compulsory purchase order say they would rather go to jail than hand over their land. 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.

High oil prices ‘for 20 years’

THE SUNDAY TIMES: High oil prices ‘for 20 years’

June 12, 2005

By Dan Box

THE price of oil could remain above $40 a barrel for the next 20 years, according to senior executives at Shell.

This bold prediction is likely to cause surprise, with analysts predicting that if it is accepted by the industry it could lead to a fresh wave of mergers between oil companies.

“The longer-term signal is one of clearly increasing prices,” said Albert Bressand, a vice-president of Shell and author of the oil giant’s global scenarios report, published last week and long seen as authoritative in the industry. “We are at about $50 a barrel today. What we describe in the scenarios is coherent with the long- term price being in the $30-$40 range.” 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.

The Observer: Overweight in London? How to slim down

The Observer: Overweight in London? How to slim down

Heather Connon

Sunday June 12, 2005

Being overweight is not just a worry for idle teenagers guzzling junk food – it’s also an issue that should concern investors. London’s indices have become alarmingly top heavy: a decade ago, the top five stocks represented just 15.3 per cent of the All-Share index and the largest company accounted for 3.5 per cent. When Royal Dutch Shell moves its full listing to London in the summer, the weighting of the top 10 will have jumped to more than 41 per cent, while the biggest – oil giant BP – will represent more than 8 per cent of the index on its own. 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.

Shell’s suit: Shell chief upbeat about future

THE SUNDAY TELEGRAPH: Shell’s suit: Shell chief upbeat about future

Sunday 12 June 2005

Shell unveiled the ghastly concept of the “Trilemma Triangle” last week, a bit of pseudo-intellectual property developed by an internal team that does little else but generate socio-economic babble. In other words, the business is not yet quite back to basics.

That said, the ambition of Jeroen van der Veer – Shell’s chief executive, whom I saw last week – is more transparent. It is captured in four easy-to-understand words: “More Upstream, Profitable Downstream (MUPD)”. 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.

Shell chief defiantly upbeat about future of the oil sector

THE SUNDAY TELEGRAPH: Shell chief defiantly upbeat about future of the oil sector

By Sylvia Pfeifer (Filed: 12/06/2005)

Jeroen van der Veer, the chief executive of Royal Dutch/Shell, the oil giant, will launch a robust defence of the future prospects of the industry tomorrow, arguing that ‘this is most definitely not a sunset industry’.

In a speech to be delivered in Asia, van der Veer will argue that the business prospects for the industry are good and that “energy will remain one of the most important and dynamic industrial sectors”.

“The world will need much more energy, and most will come from fossil fuels for the foreseeable future. Demand is likely to increase considerably more over the first three decades of this century than it did over the previous 30 years,” van der Veer will say. 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.

The six smart things to do this summer

The Guardian: The six smart things to do this summer

Saturday June 11, 2005

The way you choose to spend your long break could lead to your big break. Adeline Iziren has some tips

It’s Tony Blair’s favourite mantra: education, education, education. But an education isn’t enough to land you a great graduate job these days – even if you end up getting a first from a top university. What you need is work experience and this is borne out by numerous surveys which show that bosses want employability skills and tend to offer graduate jobs to students who have worked for them paid or unpaid. So, if you’re about to start your second or final year in the autumn, why not make the most of the long summer break. You could: 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.

Professional Investor: Too much concentration could give you a headache

The Independent (UK): Professional Investor: Too much concentration could give you a headache

By Sanjeev Shah

Published: 11 June 2005

The FTSE 100 index, the leading benchmark for UK shares, has again broken through the 5,000 level this week. However, investors who opt for a strategy of tracking the Footsie may not be aware of the nature of the risks they run – and about the opportunities they miss by sticking to an index of Britain’s 100 biggest companies by market valuation.

Their money is not distributed evenly across these companies, which range from the oil giant BP at the top of the spectrum to the copper producer Antofagasta. In fact, cash is allocated by company value. 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.

Movers and shakers

Financial Times: Movers and shakers

By Philip Coggan

Published: June 11 2005

Oil lived up to its “black gold” nickname in 2004. The surge in the crude price past $50 a barrel may have been a burden for motorists, but it allowed the corporate oil giants to climb the FT Global 500 league table (see page 28). Collectively, the oil companies on the list have added some $400bn to their market value since last year. ExxonMobil only just fell short of unseating General Electric as the world’s largest company, and there were significant advances up the table for BP, Total, ChevronTexaco, Eni, ConocoPhillips and Royal Dutch/Shell. The latter rose from 13th to seventh place, despite management changes in the wake of its overstatement of oil reserves. 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.

Fat cats are thinner by a whisker

“Finally it is worth mentioning some of the fat cats who prospered and departed this year, and who will no longer muddy their paws in our table. Top of these is Sir Philip Watts, latterly of Shell, whose pension pot expanded by another £2.6m last year to a total of £12.6m despite his leaving the company in March. That will net him £600,000 a year for life to go with his £1m golden goodbye. Another reward for failure went to…”

Daily Telegraph: Fat cats are thinner by a whisker:  Saturday 11 June 2005

(Filed: 11/06/2005)

Industry bosses netted below average pay rises last year, report David Cheesman and Malcolm Moore

Hiss! Has someone taken the bowl of cream away from Britain’s fat cats? According to the annual reports, the pay of our top 10 chief executives went up by a mangy 2.4pc last year.

This sort of skimmed milk emolument is enough to make Bustopher Jones’ tail droop.

Not only is the rise barely enough to cover the cost of inflation, it is far lower than the national average.

Our bosses are not skin and bones, of course. They still took home £30.3m last year. 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.

Royal Dutch Shell disputes domain name

BigOil.net: Netherlands/UK: Royal Dutch Shell disputes domain name

Posted 10 June 2005

Shell has called on the World Intellectual Property Organization to rule on the use of the domain name www.royaldutchshellplc.com, which was bought by anti-Shell campaigner Alfred Donovan following the company’s publication of its name once its two parent companies are merged in summer 2005, Royal Dutch Shell PLC.

The website contains negative media articles about Shell. Shell hopes that Donovan will be banned from using the domain name.

Comment by Alfred Donovan: This is not a fair and balanced article. I am not campaigning against Shell but against its hopelessly incompetent senior executives, Jeroen van der Veer and Malcolm Brinded. These gentleman are implicated in the reserves scandal and have turned a blind eye to other serious misconduct at Shell. The libel courts are open to them if they wish to challenge my assertions. My website actually contains positive and negative media articles about Shell. It is not my fault that the negative articles have been far more frequent than the positive ones, mainly because of the reserves scandal. 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.

Gazprom Reaches Agreement With Shell to Take Part in Sakhalin-2

MosNews (Russia): Gazprom Reaches Agreement With Shell to Take Part in Sakhalin-2: Friday 10 June 2005

Russia’s natural gas monopoly Gazprom said on Friday, June 10, that it has basically reached an agreement with international oil major Shell regarding participation in the oil and gas project Sakhalin-2. Shell leads the international consortium which develops the project off the coast of Sakhalin Island in Russia’s Far East.

Alexander Medvedev, head of Gazprom’s export unit, said the firm was very close to concluding a long-awaited swap deal, under which Gazprom would take 25 percent of the Sakhalin-2 project. Shell would lose its majority holding in Sakhalin Energy, which operates Sakhalin-2, but gain a stake in Gazprom’s West Siberian Zapolyarnoye field, which produces 100 billion cubic meters of gas a year. 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.

Chastened Shell sets out latest guidelines on oil reserves

The Herald (Scotland): Chastened Shell sets out latest guidelines on oil reserves

BEN GRIFFITHS June 10 2005

OIL and gas giant Shell yesterday moved to ensure it is in line with complex rules regarding the classification of reserves as the company battles to put an overbooking scandal behind it.

In a technical report intended to manage how proved reserves are handled within the group, Shell outlined how some disclosures which are required by the US Securities & Exchange Commission have changed to comply with regulations.

In the introductory section of the text, the world’s third-biggest oil company said: “Shell’s historical practices related to proved reserves calculations have been updated to reflect a clearly different approach to determining SEC compliant reserves.” 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.

No drop dead date for Mackenzie pipeline, says Shell’s Clive Mather

Canadian Press: No drop dead date for Mackenzie pipeline, says Shell’s Clive Mather

Posted 10 June 2005

By Bill Graveland

CALGARY (CP) – Shell Canada Ltd. is still committed to proceeding with the $7-billion Mackenzie Valley natural gas pipeline in the Northwest Territories but not without clear guidelines from Ottawa, the energy giant’s president and chief executive said Thursday.

“Mackenzie Delta for us is a very, very important project and we are committed to doing it,” Clive Mather told the Calgary Chamber of Commerce.

“But what we went to see is some unblocking of the regulatory processes so we can actually get this thing started again.” 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.

Far from a fresh start for Shell

ShellNews.net: Royal Dutch Shell plc: Far from a fresh start for Shell

10 June 2005

By Alfred Donovan

The Herald, a Scottish newspaper, published an article today under the headline: “Chastened Shell sets out latest guidelines on oil reserves.”

The following is an extract: “Shell stunned world financial markets in January 2004 when it slashed proven oil and gas reserves, or oil still in the ground, by 20%, the equivalent of 3.9 billion barrels. Further, smaller disclosures followed along with the revelation that the group’s former management had known about the vast overbooking and lied to cover it up.” 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.

The Guardian: A noose, not a bracelet

Saro-Wiwa gave his life to the idea that the vast oil wealth of the Niger delta must leave behind more than polluted rivers, charred farmland, rancid air and crumbling schools. He asked not for charity, pity or “relief”, but for justice.

The Guardian: A noose, not a bracelet

Naomi Klein

Friday June 10, 2005

Gordon Brown has a new idea about how to “make poverty history” in time for the G8 summit. With Washington so far refusing to double its aid to Africa by 2015, the chancellor is appealing to the “richer oil-producing states” of the Middle East to fill the funding gap. “Oil wealth urged to save Africa,” reads the headline in the Observer.

Here is a better idea: instead of Saudi Arabia’s oil wealth being used to “save Africa”, how about if Africa’s oil wealth was used to save Africa – along with its gas, diamond, gold, platinum, chromium, ferroalloy and coal wealth? 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.

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

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.

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

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.

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

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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

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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

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Forbes: Oil Stocks? Still?

Forbes: Oil Stocks? Still?

Posted 8 June 2005

By Richard C. Morais,

No, it’s not too late. In fact, there are some that are truly undervalued. Forget price/earnings ratios and book values. Look at the value of their reserves.

Dadgummit. Missed buying oil stocks when West Texas Intermediate traded at $30 a barrel 18 months ago, but high oil and gas prices are here to stay for a while. Oil is one of the few industries that is reliably going to gush cash. If that rant approximates your frustrations at having missed a buying opportunity in the run-up to this energy bull market, don’t despair. There’s still a way to get in. read more

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Shellshock on the island terrified by oil giant’s pipeline

The Independent: Shellshock on the island terrified by oil giant’s pipeline

The UK firm will make billions from one of the world’s biggest gas projects. But what will it mean for the people and environment on Sakhalin? By Jonathan Brown

08 June 2005

They no longer let their children play in the woods beside the dachas on the hills overlooking Aniva Bay.

Since the oil company Shell began building a large liquid natural gas (LNG) plant on the southern tip of Sakhalin island in Russia’s Far East, bears have started straying into the village. The community believes its traditional way of life, growing its own food and fishing, is under threat. The bears have been frightened away from their feeding grounds by construction activity, they say. The natural order – from the bears to the health of the island’s marine life – is being fundamentally altered. read more

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World’s biggest wind farm planned for London

The Independent: World’s biggest wind farm planned for London

By Helen McCormack

08 June 2005

Plans have been submitted to build the world’s biggest wind farm in the Thames estuary. It is designed to generate enough electricity to supply a quarter of London homes.

The complex, named the London Array, is predicted to cost £1.5bn to build and would be capable of meeting 10 per cent of the Government’s target to have 10 per cent of the UK’s electricity generated by renewable energy resources by 2010.

If permission is granted to build the farm, 270 turbines, each 300ft (100m) in height would be constructed over 152 sq miles (245 sq km) 12 miles off the Kent coast. The proposals were submitted by a consortium formed by the energy companies, Shell, E.On Renewables and an Anglo-Danish company, Core. read more

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Jackson Hole Star-Tribune: Shell donates $2 million

Jackson Hole Star-Tribune: Shell donates $2 million

By JEFF GEARINO

Southwest Wyoming bureau Wednesday, June 08, 2005

PINEDALE — Big Piney High School senior Ali Guio offered the first idea for how some of Shell Exploration and Production Co.’s $1 million gift should be spent.

Like many teenagers, the 17-year-old Guio lamented that there aren’t enough positive activities for area youth in small western Wyoming communities such as Pinedale and Big Piney. So some teens are turning to drugs and alcohol for entertainment, she said.

“There’s been a disturbing increase in our (student) population’s use of drugs and alcohol… Drug use is the No. 1 concern,” Guio said during a luncheon unveiling the Upper Green River Sustainable Communities Endowment Fund here Tuesday. The permanent endowment was established by Shell and the Wyoming Community Foundation and initially funded with a $1 million contribution from the energy company. read more

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Shell denies slowdown in setting up outlets

The Hindu (India): Shell denies slowdown in setting up outlets

Wednesday 8 June 2005

Staff Reporter

Company to maximise indigenous sourcing of products

So far two outlets in Bangalore and one in Chennai

Eco-friendly technologies

Porur in Chennai being considered as site

CHENNAI: Dutch oil major Shell, which has secured permission from the Centre to establish 2,000 auto fuel retail outlets in the country, is aggressively pursuing its business plans for India, including maximising indigenous sourcing of equipment and products.

Denying a slowdown in the process of creating the network of outlets, senior executives of Shell India Marketing, led by its managing director Shairan Huzani Husain, told presspersons here on Monday that the company still adhered to the targets set. read more

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Oil nationalism

Financial Times: Oil nationalism

By Brian Groom

Published: June 8 2005

There is a flip side to high oil prices – even for the Seven Sisters. For if crude at above $50 a barrel continues to sustain the profitability of all the oil majors, it is steadily reinforcing nationalistic instincts among producing countries.

This “reaffirmation of the coercive power of the state” – as Shell puts it in a report this week – is rapidly turning into a headache for international companies. And this trend is not only confined to Saudi Arabia and Russia, the world’s two largest producers, but spreading elsewhere. read more

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Biggest wind farm could power one in four London homes

From the Financial Times, Wednesday 8 June 2005: Biggest wind farm could power one in four London homes

By Fiona Harvey,Environment Correspondent

Published: June 8 2005

A quarter of homes in London could benefit from wind power if the world’s biggest wind farm went ahead. The planning application for the 270-turbine London Array project was submitted yesterday by a consortium of E.ON UK Renewables, Shell Wind-Energy and CORE, a joint venture between Farm Energy and the Danish generator Energi E2. read more

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Shell to bring JJ into the tent

Financial Times: Shell to bring JJ into the tent

By Clay Harris

Published: June 8 2005

JJ Traynor, one of the UK’s better known oil analysts, will be looking at Royal Dutch/Shell’s reserves from the inside from now on.

Shell yesterday told staff it had named Traynor vice-president for exploration and production business development support – responsible for oversight, ranking and management of its portfolio of prospects. Traynor was dismissed by Deutsche Bank in January as part of the closure of its Edinburgh office. Shell will not be his first stint in industry; he formerly worked at BP. read more

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Shell, E.ON Plan World’s Largest Wind Farm in U.K.

BLOOMBERG: Shell, E.ON Plan World’s Largest Wind Farm in U.K. (Update4): “The U.K., the windiest country in Europe, wants 10 percent of its power to come from renewable sources by 2010…”: 7 June 2005

June 7 (Bloomberg) — Royal Dutch/Shell Group, E.ON AG and partners sought U.K. permission for the world’s largest wind park, a 1.5 billion-pound ($2.75 billion) project big enough to serve one-fourth of London, as Prime Minister Tony Blair seeks to cut emissions linked to global warming.

The London Array project would have 270 turbines about 60 miles downstream from central London, in an estuary where the River Thames flows into the North Sea. The windmills 12 miles offshore, with a total of 1,000 megawatts of capacity, may be ready in 2011, the companies said in an e-mailed statement today. read more

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Shell studying retail network viability

Financial Express India: Shell studying retail network viability

Posted online: Tuesday, June 07, 2005

Shell India Marketing Pvt Ltd, the first multinational company that has permission to open 2,000 petro retailing outlets in the country, is conducting field studies to identify commercially viable spots across the country.

“Now we have only three outlets—two in Bangalore and one in Chennai. We are planning to be all over the country,” Mr Shairan Husain, managing director of Shell India Marketing, said. Shell India Marketing, the automobile fuel retailing arm of Shell India Pvt Ltd, now sources petrol and diesel from the 9.6 million-tonne capacity Mangalore Refineries and Petrochemcials Ltd (MRPL). “Shell’s strategy is to source locally. Hence we are open to entering into deals with other refineries also as we expand,” he said. read more

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High Court rejects Todd Petroleum’s arguments on pipeline access

New Zealand Herald: High Court rejects Todd Petroleum’s arguments on pipeline access: “The score is one-all between heavyweight energy players Shell New Zealand and Todd Petroleum…”

The score is one-all between heavyweight energy players Shell New Zealand and Todd Petroleum in recent legal stoushes.

The High Court in Wellington has rejected Todd Petroleum’s arguments that access to the Maui pipeline by third parties wanting to transport non-Maui gas required unanimous agreement by the Maui Joint Venture parties.

Todd, Shell and Austrian firm OMV are the joint venture parties.

Todd claimed, in a judgment released by Justice MacKenzie, that open access was outside the purpose of the joint venture agreement and any activity outside that required unanimous agreement of the joint venture parties. read more

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Shell predicts two decades of rising energy prices

The Independent: Shell predicts two decades of rising energy prices

By Michael Harrison

07 June 2005

Worldwide energy prices are set to rise over the next two decades as individual countries become more concerned about ensuring security of supply and governments take a more pro-active role in dictating energy policy and regulating markets, according to the latest global outlook from the oil giant Shell.

Its “global scenarios” report, the first to be produced since the twin shocks of the terror attacks of 11 September 2001 and the Enron scandal, also suggests that Shell in common with other oil majors will place more emphasis on developing renewable energy sources such as wind and solar than extracting more hydrocarbons through unconventional means. read more

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Shell’s slimmer structure ‘will open the door to acquisitions’

Daily Telegraph: Shell’s slimmer structure ‘will open the door to acquisitions’

By Christopher Hope (Filed: 07/06/2005)

A leading Shell executive yesterday predicted that the company’s new slimmed down structure would make it easier to make acquisitions after it missed out on consolidation in the oil and gas industry in the late 1990s.

Shell’s shareholders vote later this month on plans to replace the British and Dutch companies which own Shell with just one business – Royal Dutch Shell – with its main listing on the London Stock Exchange.

Peter Voser, Shell’s chief financial officer, said: “The restructuring scheme will enable us to use our shares as a currency for acquisitions. This will bring us at par with our main competitors. This could be useful in a possible consolidation phase within the industry.” read more

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Financial Times: Papering the cracks

Financial Times: Papering the cracks

Published: June 7 2005

When crude prices are high, oil industry acquisitions are tough to justify. But as Peter Voser, chief financial officer, reiterated, after the planned merger of Royal Dutch with Shell, at least the oil major could use its paper as currency for a deal.

Shell emphasizes that the ability to issue paper does not mean a significant deal is under consideration. It is committed to organic growth. A transformational deal, which would undermine confidence in this strategy, is unlikely. A merger with another international major would also face tough political and regulatory hurdles. read more

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