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Royal Dutch Shell starts trading as single company

Financial Times: Royal Dutch Shell starts trading as single company

“For the first time in its 98-year history, Royal Dutch Shell will trade today as a single, unified company in London…”:

Wednesday 20 July 2005

By Thomas Catan and Philip Stafford

FRONT PAGE – FIRST SECTION:

For the first time in its 98-year history, Royal Dutch Shell will trade today as a single, unified company in London after 91 per cent of investors in Royal Dutch agreed to tender their old shares.

The company needed 95 per cent of Dutch shareholders to agree to the offer but it was able to invoke a clause allowing approval at lower levels.

The High Court also sanctioned the scheme of arrangement yesterday, the final step before a formal listing. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Irish Times: Mayo deputies dispute alleged ‘intimidation’ of Shell workers

Irish Times: Mayo deputies dispute alleged ‘intimidation’ of Shell workers

“The five residents who are still in prison over their opposition to the high pressure gas pipeline are due back in the High Court next Monday.”

Wednesday 20 July 2005

Lorna Siggins, Marine Correspondent

Jul 20, 2005

Mayo TDs Michael Ring (FG) and Dr Jerry Cowley (Ind) have criticised Mayo County Council over its handling of a motion on the Shell Corrib gas field this week.

The deputies have also disputed recent press reports of “intimidation” of Shell and Statoil workers by protesters in Mayo.

Chief Supt Tony McNamara in Mayo told The Irish Times yesterday that Belmullet gardai logged one report of a threat, which involved a verbal exchange in a pub in Belmullet, Co Mayo, some weeks ago. GardaI had received no reports of intimidation, he said. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Van der Veer’s vision for a unified Shell

Financial Times: COMPANIES UK: Van der Veer’s vision for a unified Shell

“Jeroen van der Veer, the first chief executive of the newly restructured Royal Dutch Shell, is used to skating on thin ice.”: “The company was already struggling with its reserves figures before it had to cut them five times last year.”

Wednesday 20 July 2005

By Thomas Catan

Jeroen van der Veer, the first chief executive of the newly restructured Royal Dutch Shell, is used to skating on thin ice.

The 57-year-old Dutchman has twice completed the Elfstedentocht 135-mile race along frozen canals through 11 cities in the Netherlands.

But even that cannot be as demanding as the task at hand – righting the third largest oil company following its devastating reserves accounting crisis last year.

The debacle spurred a boardroom purge, class-action lawsuits and a complete reorganisation of the company’s century-old governance structure. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Daily Telegraph: Shell ready to go to court over rump shareholding

Daily Telegraph: Shell ready to go to court over rump shareholding

“More than 8pc of investors in Royal Dutch Petroleum have failed to accept the terms of the merger with Shell Transport and Trading to create a £100billion oil and gas giant called Royal Dutch Shell.”

Wednesday 20 July 2005

By Christopher Hope, Business Correspondent (Filed: 20/07/2005)

More than 8pc of investors in Royal Dutch Petroleum have failed to accept the terms of the merger with Shell Transport and Trading to create a £100billion oil and gas giant called Royal Dutch Shell.

However, enough shareholders – 91.7pc – in Royal Dutch Petroleum have backed the deal to ensure that the merger will go through today.

The deal, which was brought about after the company wrongly categorised over a fifth of its proven oil and gas, has been criticised in the UK after it left about 3,000 British shareholders facing a £77m capital gains tax bill. This is because the Inland Revenue treats the share swap as a disposal. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

The High Court in London has approved the landmark proposal to unify dual-listed structure of Royal Dutch Shell

The Times: The High Court in London has approved the landmark proposal to unify the dual-listed structure of Royal Dutch Shell, the Anglo-Dutch oil and gas group.

Wednesday 20 July 2005

NEED TO KNOW

Natural Resources

Up 0.4%

Venture Production, the Aberdeen oil and gas company, has privately placed £29 million of convertible bonds due in October 2010, convertible at a 16 per cent premium to the company’s last trade.

The High Court in London has approved the landmark proposal to unify the dual- listed structure of Royal Dutch Shell, the Anglo-Dutch oil and gas group.

Consolidated Minerals, the Australian group listed on the Alternative Investment Market, increased the resource estimate at its Reliance nickel project in Western Australia by 36 per cent after a drilling programme. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

The Guardian: New Shell shares start trading

The Guardian (UK): New Shell shares start trading

“The merger is one of a number of measures implemented after last year’s damaging reserves overbooking scandal which dented investor confidence.”: “Under the terms of the merger the new company will be listed in London and will have its headquarters in the Netherlands.”

Wednesday 20 July 2005

Mark Milner

Wednesday July 20, 2005

Shares in Royal Dutch Shell will begin trading in London this morning after the world’s third-largest oil group cleared the last hurdle in the merger of its UK and Dutch components.

Almost 92% of Royal Dutch shareholders have exchanged their shares for a stake in the unified group, allowing the deal with Shell Transport and Trading to go ahead.

“Shareholders have shown strong support throughout the process and voted overwhelmingly in support of the proposals at the recent shareholder meetings to move to one company,” chief executive Jeroen van der Veer said. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

THE NEW YORK TIMES: Shell Turns a Stock Page but Has Chapters to Go

THE NEW YORK TIMES: Shell Turns a Stock Page but Has Chapters to Go

“A year and a half after a reserve scandal that sank Shell’s stock, ended its reputation as a conservative company and forced the ouster of three of its top executives, the company is still remaking itself, analysts and investors say.”: “Shell deflated investor confidence again last week, when it said that costs at the Sakhalin II project, which it is leading, could double to $20 billion, and that the project might be delayed for half a year.”: “Where are the project-management skills Shell said they were going to demonstrate last fall?” Mr. McMahon said. “There is not enough in terms of pushing this company into a new place, and they’re not going to get anywhere fast.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Glasgow Evening News: Inquiry into rig workers’ deaths

Glasgow Evening News: Inquiry into rig workers’ deaths

“After the tragedy, operators Shell revised safety procedures and maintenance issues, admitting there were shortcomings.”

Posted 20 July 2005

AN inquiry will be held into the deaths of two North Sea oil workers.

Lord Advocate Colin Boyd announced – after “personal consideration” – a Fatal Accident Inquiry will be held, reversing an earlier decision.

Sean McCue, 22, from Fife, and Keith Moncrieff, 45, from Invergowrie, near Dundee, were working on the Brent Bravo platform when they were overcome by a sudden release of gas in 2003. A doctor was flown in from a nearby rig but the men could not be saved. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Grampian TV (Scotland): FAI to be held into oil platform deaths

Grampian TV (Scotland): FAI to be held into oil platform deaths

“Earlier this year Shell was fined a record nine hundred thousand pounds after admitting health and safety breaches. The Sheriff who heard the case said there had been a “substantial catalogue” of errors.”

Posted Wednesday 20 July 2005

The decision not to hold a fatal accident inquiry into the deaths of two men on a North Sea platform has been overturned by Scotland’s senior law officer. The Lord Advocate has given the go ahead for the probe into the deaths on Shell’s Brant Bravo in September two thousand and three.

In September 2003, 22 year old Sean McCue from Fife and 45 year old Keith Moncrieff from Invergowrie near Dundee died after being overcome by gas while working on one of the platform’s legs. Mr Moncrief was an experienced worker and had previously appeared in an offshore safety video. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Daily Record (Scotland): OIL RIG DEATHS PROBE U-TURN

Daily Record (Scotland): OIL RIG DEATHS PROBE U-TURN

“In April, Shell were fined a record £900,000 after admitting blunders leading to the deaths of Mr Moncrieff, of Invergowrie, Dundee, and Mr McCue, of Kennoway, Fife.”

Posted Wednesday 20 July 2005

Union welcome FAI into tragedy

By Charlie Gall

UNION chiefs yesterday welcomed the go-ahead for a fatal accident inquiry into the deaths of two offshore workers.

Keith Moncrieff, 45, and Sean McCue, 22, were overcome by gas on Shell’s Brent Bravo platform in September 2003.

Earlier this year, the procurator fiscal in Aberdeen refused to order an FAI.

But yesterday, Scotland’s top law officer, Lord Advocate Colin Boyd QC, over-ruled the decision.

He explained he had concluded it was ‘in the wider public interest’ for an inquiry to be held. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

BBC NEWS: Law chief orders rig deaths probe

BBC NEWS: Law chief orders rig deaths probe

“ The Lord Advocate said it would be in the “wider public interest” for an inquiry into the deaths of Keith Moncrieff and Sean McCue. They were killed on Shell’s Brent Bravo platform in the North Sea in September 2003. Shell was later fined £900,000.”: “Shell admitted a series of health and safety breaches and was fined a record amount on a company following a North Sea accident.”

Posted Wednesday 20 July 2005

Scotland’s senior law officer has overturned a decision not to hold a fatal accident inquiry into the deaths of two men on an oil platform.

The Lord Advocate said it would be in the “wider public interest” for an inquiry into the deaths of Keith Moncrieff and Sean McCue.

They were killed on Shell’s Brent Bravo platform in the North Sea in September 2003. Shell was later fined £900,000.

The original decision not to hold an FAI was made by Crown counsel. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

The Scotsman: Families welcome inquiry into North Sea gas leak

The Scotsman: Families welcome inquiry into North Sea gas leak

“Mr Moncrieff, 45, a mechanical technician, and Mr McCue, 22, a trainee operations technician, died when they were engulfed in a gas escape inside the platform’s utility leg. Last April, at Stonehaven Sheriff Court, Shell was fined a record £900,000 for safety failings on the platform.”

Wednesday 20 July 2005

FRANK URQUHART

SCOTLAND’S Lord Advocate yesterday finally bowed to public pressure and ordered a fatal accident inquiry into the deaths of two workers in a massive gas escape on a North Sea platform two years ago.

News that Colin Boyd QC had overturned a decision against holding a public inquiry was welcomed last night by offshore union leaders and relatives of the men who died.

Keith Moncrieff, of Invergowrie, near Dundee, and Sean McCue of Kennoway, Fife, were killed on Shell’s Brent Bravo platform in September 2003. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

The Herald (Scotland): U-turn on Brent oil deaths inquiry

The Herald (Scotland): U-turn on Brent oil deaths inquiry

“Keith Moncrieff and Sean McCue died when they were exposed to hydrocarbon gases on the Brent Bravo platform on September 11, 2003. At Stonehaven Sheriff Court in March, Shell, the oil company, admitted three safety breaches which led to their deaths.”

Posted Wednesday 20 July 2005

GRAEME SMITH

Scotland’s senior law officer has overturned a decision not to hold a fatal accident inquiry into the deaths of two men on an oil platform.

Keith Moncrieff and Sean McCue died when they were exposed to hydrocarbon gases on the Brent Bravo platform on September 11, 2003.

At Stonehaven Sheriff Court in March, Shell, the oil company, admitted three safety breaches which led to their deaths.

Sheriff Patrick Davies said the firm was responsible for a “substantial catalogue of errors” which led to the tragedy and imposed a record £900,000 fine. Last month, the procurator-fiscal announced there would be no fatal accident inquiry into the deaths, infuriating offshore unions. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

BLOOMBERG: French Employee at Shell’s Russian Venture Is Killed

BLOOMBERG: French Employee at Shell’s Russian Venture Is Killed 

“A French expatriate working at a Royal Dutch Shell Plc-led oil and gas venture off Russia’s Pacific coast was killed at his apartment in Yuzhno-Sakhalinsk, on the southern end of Sakhalin Island.”: “Sakhalin Energy and Starstroi are investigating the murder, in part “to learn how to improve safety and security” for other employees…”

Wednesday 20 July 2005

July 20 (Bloomberg) — A French expatriate working at a Royal Dutch Shell Plc-led oil and gas venture off Russia’s Pacific coast was killed at his apartment in Yuzhno-Sakhalinsk, on the southern end of Sakhalin Island.

The employee of OOO Starstroi, a pipeline contractor for the Sakhalin-2 project, “died following a criminal incident at his apartment,” Ivan Chernyakhovsky, a spokesman for the project operator, Sakhalin Energy Investment Co., said in a telephone interview from Moscow today. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Reuters: Shell Oman Marketing H1 net profit up 68 pct

Reuters: Shell Oman Marketing H1 net profit up 68 pct

Wed Jul 20, 2005

MUSCAT, July 20 (Reuters) – Shell Oman Marketing Co (SHEL.OM: Quote, Profile, Research) said on Wednesday its first-half net profit rose 68 percent to 3.75 million rials ($9.7 million).

A company statement attributed the rise to a higher gross margin, increased sales of aviation fuel due to growing air traffic to the sultanate, more exports of lubricants and other factors.

Earnings per share increased to 0.375 rial from 0.224 rial, said the statement posted on the Muscat stock market Web site. Net assets fell to 18.1 million rials from 20.6 million rials, it said. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Reuters: FTSE up as GUS charges, but Shell shows cracks: SHELL TROUBLED

Reuters: FTSE up as GUS charges, but Shell shows cracks: SHELL TROUBLED

“Royal Dutch Shell was the main drag on the market as the restructuring of the oil titan took effect but its two lines of stock both fell as tracker fund buying tapered off [nL20439638] and attention shifted back to more fundamental issues such as replacing its reserves and problems at its massive Russian Sakhalin-2 project.”

Wed Jul 20, 2005 5:09 PM BST

By Steve Slater

LONDON, July 20 (Reuters) – Britain’s top shares rose on Wednesday to halt a three-day losing run as retailer GUS (GUS.L: Quote, Profile, Research) was boosted by another set of bumper results from its Experian arm, but a restructured Royal Dutch Shell made a soggy arrival as Europe’s second biggest firm.

Mining stocks were buoyed by upbeat production numbers from Rio Tinto (RIO.L: Quote, Profile, Research), but GUS was the star performer with a 5.5 percent rally to a 3-month high after rampant growth at credit-checking unit Experian continued, with a 26 percent rise in its first quarter underlying sales. [nL20293448] read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

AFX News Limited: Royal Dutch Shell ratings outlook kept at negative by Moody’s

AFX News Limited: Royal Dutch Shell ratings outlook kept at negative by Moody’s

“It recalled that RDS recently announced that cost overruns on Phase 2 of the Sakhalin II liquefied natural gas project could potentially double the original total project costs to 20 bln usd through 2014.”

Wednesday 20 July 2005

AMSTERDAM (AFX) – Moody’s Investors Service said it kept a negative outlook on the Aa1 ratings of Royal Dutch Shell PLC following the oil company’s creation of a holding company to unify its dual ownership structure.

The credit ratings agency said it ‘is maintaining a negative outlook on RDS’s Aa1 long-term rating as it continues to gauge RDS’s upstream performance and the positioning of the Aa1 long-term rating relative to those of its strongest rated peer companies.’ read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Reuters: Shell declares fuel oil force majeure from Pernis-trade

Reuters: Shell declares fuel oil force majeure from Pernis-trade

“Oil major Royal Dutch Shell has declared force majeure on all fuel oil barge contract supplies from its 418,000-barrels-per-day Pernis refinery in Rotterdam, northwest European fuel oil traders said on Wednesday.”

20 July 2005

LONDON, July 20 (Reuters) – Oil major Royal Dutch Shell has declared force majeure on all fuel oil barge contract supplies from its 418,000-barrels-per-day Pernis refinery in Rotterdam, northwest European fuel oil traders said on Wednesday.

They said the force majeure at Europe’s biggest refinery had been declared in the wake of a shutdown at the refinery last Thursday, caused by a power outage.

The oil major said on Monday that the plant was restarted on Sunday, but that it would take around a week for it to be fully operational. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Channel 4 News: ‘New Shell’ shares slump

ITN Channel 4 News: ‘New Shell’ shares slump

“Shares in newly unified oil giant Royal Dutch Shell suffered a stock market pasting on their first day of trading.”

Wednesday 20 July 2005

Last Modified: 20 Jul 2005

Shares in newly unified oil giant Royal Dutch Shell suffered a stock market pasting on their first day of trading.

Shell B shares, which originate from its former UK parent, opened higher but fell to close at 1805p, down 31p on the day.

Shell A shares, which originate from the Dutch side of the business, declined by 58p lower at 1766.5p.

The merger sees Royal Dutch Petroleum, which has its headquarters in the Hague, join forces with London-based Shell Transport & Transport. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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