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Posts on ‘July 12th, 2005’

The Guardian (UK): Dip in oil sector fails to halt FTSE 100

The Guardian (UK): Dip in oil sector fails to halt FTSE 100

“In the past month, Shell has risen 16% as index-tracking funds have positioned themselves for its merger with sister company Royal Dutch. The deal will create a company with a market value of around £130bn… The unification is due to be completed a week tomorrow…”

Tuesday July 12, 2005

Neil Hume

The FTSE 100 pushed on to a fresh three-year high yesterday despite a weak performance from the heavyweight oil sector, which was hit by a flurry of profit-taking as the crude price fell back from recent highs.

London’s strong showing was largely down to Wall Street, which rose an impressive 147 points on Friday and managed a further advance in early dealings yesterday. That said, Vodafone also made a contribution. The mobile phone group climbed 1.75p to 141p as two leading brokers advised clients to pick up stock. US bank Lehman Brothers started the ball rolling by recommending a switch out of BT Group, up 0.75p to 229.75p. 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

Majors must go to Gazprom to get access to Russia’s vast natural oil and gas store

Financial Times: Majors must go to Gazprom to get access to Russia’s vast natural oil and gas store

“Shell has had a strategic alliance with Gazprom since 1997 but had yet to partner the state-controlled Russian company in any major project. On Thursday, however, the company announced that it would partner Gazprom in not one but two multi-billion dollar projects.”

Tuesday 12 July 2005

By Thomas Catan and Arkady Ostrovsky

Published: July 12 2005

Even as terrorist bombs were going off across London on Thursday, Alexei Miller of Gazprom, the Russian gas monopoly, was shuttling around the City, meeting some of the world’s top oilmen.

In the midst of the chaos Mr Miller, Gazprom’s chief executive, signed a deal with Jeroen van der Veer, his counterpart at Royal Dutch/Shell, that will make the two companies partners in two huge Russian gas projects.

As the ink was drying on that deal, Mr Miller went to meet Lord Browne, BP’s chief executive, to “review the prospects for bilateral co-operation in the energy markets”, Gazprom said. 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

Lloyds List: New Malaysian find

Lloyds List: New Malaysian find

“PETRONAS and Shell have made their fifth gas discovery off the northeast coast of Peninsular Malaysia in block PM301 and have started technical studies to develop the field.”

Tuesday July 12, 2005

PETRONAS and Shell have made their fifth gas discovery off the northeast coast of Peninsular Malaysia in block PM301 and have started technical studies to develop the field.

Their joint venture company CS Mutiara Petroleum found gas with the Bunga Kesumba well in 55 m of water, which is close to the four previous discoveries Bunga Kamilia, Bunga Zetung, Bunga Anggerik and Bumi South.

Petronas and Shell have started technical studies to assess the development of these gas discoveries, with any project likely to require more than one platform. 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: Rebel gunmen aim to seize control of Nigeria’s vast oil reserves

Daily Telegraph: Rebel gunmen aim to seize control of Nigeria’s vast oil reserves

“Last September his gunmen rocked the international oil market by launching attacks across the Delta, costing hundreds of lives and threatening some of the world’s largest companies.”: “Mr Asari’s last round of bloodletting won him direct talks with President Olusegun Obasanjo and forced Shell, the Anglo-Dutch oil giant, to evacuate 254 staff from the Delta.”

Tuesday 12 July 2005

By David Blair in Port Harcourt

(Filed: 12/07/2005)

If the rising cost of the world’s oil can be blamed on any one man, a portly African militia leader with a poster of Osama bin Laden glowering from his wall is the most likely culprit.

Al-Haji Mujahid Dokubo Asari, the leader of a motley collection of gunmen styling themselves the Niger Delta People’s Volunteer Force, managed to push the world oil price above $50 a barrel last year.

His homeland in the verdant Delta region of southern Nigeria holds the largest oil reserves in sub-Saharan Africa and Mr Asari aims to seize this wealth for his Ijaw tribe. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell faces down Todd Petroleum over Pohokura gas field

Stuff.co.nz (New Zealand): Shell faces down Todd Petroleum over Pohokura gas field

“A legal battle between owners of the Pohokura gas field is back in the High Court today, as global energy giant Shell faces down our home-grown big shot, Todd Petroleum.”

Tuesday 12 July 2005

A legal battle between owners of the Pohokura gas field is back in the High Court today, as global energy giant Shell faces down our home-grown big shot, Todd Petroleum.

The two companies are fighting over who will operate the offshore natural gas field, which is due to start producing next year.

It is currently operated by Shell Todd Oil Services, a 50-50 joint venture that has been running oil and gas enterprises for the past 50 years.

The gas field, sited off the Taranaki coast, is owned by Shell, which has 48 per cent, and Todd and the European energy company OMV, each of whom own 26 per cent. 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

Irish Times: Shell denies it is looking at alternative pipe route

Irish Times: Shell denies it is looking at alternative pipe route

Tuesday July 12, 2005

Lorna Siggins and Liamy McNally

The Marine Institute has confirmed that one of the State’s research vessels, Celtic Voyager, has been hired by Shell to carry out survey work in Broadhaven Bay. However, Shell E&P Ireland has denied that it is considering an alternative route for the onshore gas link.

The ship is currently in Co Donegal on phytoplankton work associated with the recent red tide, and is expected in Co Mayo within the next few days.

Initially it will conduct phytoplankton sampling in Killary fjord, but is then to be deployed to Broadhaven Bay on a “bare board” contract – whereby only the ship’s crew, but no Marine Institute scientists, will be on board, the Marine Institute said. 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

Reuters: Shell to pay over $90 million to settle class action Tuesday

Reuters: Shell to pay over $90 mln to settle class action Tuesday

“Royal Dutch Shell said on Tuesday it had agreed to pay more than $90 million to settle a class action lawsuit taken by employees in relation to a reserves overbooking scandal last year.”: “Shell shocked investors in January 2004 by slashing its proven reserves of oil and gas. The revelation that the firm had been exaggerating the size of its reserves for years sent its stock tumbling and led to the ouster of its top executives. Shell, the world’s third largest oil group by market capitalisation, has already paid about $150 million in fines to U.S. and UK financial regulators over the scandal.”

Tuesday July 12, 2005

LONDON, July 12 (Reuters) – Royal Dutch Shell said on Tuesday it had agreed to pay more than $90 million to settle a class action lawsuit taken by employees in relation to a reserves overbooking scandal last year.

The Anglo-Dutch oil giant said in a statement it will pay $90 million to employees who participated in certain employee saving plans.

This figure includes lawyers’ fees, and Shell will pay up to another $1 million to cover other expenses incurred by the plaintiffs lawyers. 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

Royal Dutch/Shell settles employee class action suit, to pay some $90 million usd

AFX Europe (Focus): Royal Dutch/Shell settles employee class action suit, to pay some 90 mln usd

“The Royal Dutch/Shell Group said it reached a settlement in a class action and related litigation brought against certain group companies on behalf of some employees and relating to Shell’s reserves recategorisations.”

Tuesday July 12, 2005

AMSTERDAM (AFX) – The Royal Dutch/Shell Group said it reached a settlement in a class action and related litigation brought against certain group companies on behalf of some employees and relating to Shell’s reserves recategorisations.

If the settlement is approved by the court, Shell will pay 90 mln usd which, after deduction of certain expenses, will be distributed to eligible participants in the relevant US employee savings plans.

Shell also has agreed to pay up to 1 mln usd of plaintiffs’ counsel’s expenses and the costs of providing notice to class members. 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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