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Posts on ‘July 23rd, 2005’

Daily Telegraph: Former Shell chairman to challenge FSA findings

Daily Telegraph (UK): Former Shell chairman to challenge FSA findings

“Sir Philip’s law firm Herbert Smith has claimed the FSA published its findings in undue haste. The FSA fined Shell £17m for market abuse and breaching the listing rules.”: “Shell yesterday sought to distance itself from comments made by its interim chairman Aad Jacobs to the Financial Times.”

By Caroline Muspratt (Filed: Saturday 23/07/2005)

Sir Philip Watts, former chairman of oil giant Shell, will argue on Monday that he should have been given the right to respond to the City regulator over its findings into Shell’s overstatement of its reserves.

The dispute between Sir Philip, who was ousted following the scandal last year, and the Financial Services Authority has been brewing since September.

Sir Philip has accused the FSA of “violating” his rights and running a “fundamentally flawed” investigation into Shell’s oil and gas reserves debacle. He has claimed that though the FSA report did not refer to him by name, he was effectively identified and prejudiced. 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: New Shell formulation will take time to settle down

DAILY TELEGRAPH UK: New Shell formulation will take time to settle down

SATURDAY 23 JULY 2005

More news from Shell this week, except thankfully it was nothing to do with losing reserves. The oil giant has unified its dual corporate structure to create Royal Dutch Shell.

There are now two lines of stock traded in London. Shell A shares, which originate from the former Dutch parent Royal Dutch Petroleum, and Shell B shares, which replace UK arm Shell Transport and Trading.

With all the shares in the new company now traded on the London Stock Exchange, the number of shares – and its market capitalisation – has more than doubled. Investors’ holdings in the unified group have changed too. Shell Transport investors have received 28 Royal Dutch Shell B shares for every 100 Shell shares held – that is why the Royal Dutch Shell B shares are trading at around 3.5 times the price of the old Shell shares. 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 (UK): Coke is still world’s most valuable brand

The Guardian (UK): Coke is still world’s most valuable brand

“Coca-Cola was yesterday named the world’s most valuable brand for the seventh successive year in an annual ranking of the top 100.”: “Shell… 90th”

Jill Treanor

Saturday July 23, 2005

Coca-Cola was yesterday named the world’s most valuable brand for the seventh successive year in an annual ranking of the top 100.

According to the Business Week/Interbrand survey, HSBC was the highest ranking British brand, in 29th place. The banking group was also the second fastest riser in the rankings as its “world’s local bank” advertising campaign began to pay off.

The four other British names in the survey were Reuters, in 74th place, BP in 75th, vodka maker Smirnoff, part of the Diageo group, in 88th and Shell in 90th. 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: Labour urges Dail recall over Dublin Port and Shell issues

Irish Times: Labour urges Dail recall over Dublin Port and Shell issues

Saturday 23 July 2005

The Labour Party has called on the Taoiseach to recall the Dail next week to deal with critical problems which have emerged within the portfolio of the Minister for Marine and Natural Resources and his junior partner. Mark Hennessy, Political Correspondent, and Lorna Siggins , Marine Correspondent, report.

Labour’s marine and natural resources spokesman, Tommy Broughan, said a one-day session of the Dail was required over Dublin Port lands and the “continued incarceration” of the five north Mayo men in prison over their opposition to the Corrib gas pipeline. 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.

Bid talk and Shell shake-up help Footsie

Financial Times: Bid talk and Shell shake-up help Footsie

By Robert Orr and Chris Flood

Published: Saturday July 23 2005

The London market ended a week that saw the historic unification of the Royal Dutch Shell oil company fractionally higher.

The blue-chip FTSE 100 gained 0.2 per cent last week, closing at 5,241.8 yesterday after a 20.2 points, or 0.4 per cent, rise on the day.

Yesterday’s rise of 28.4 points, 0.4 per cent, helped the broader FTSE 250 firm 0.3 per cent over the five-day period. It closed at 7,495.8.

While Royal Dutch Shell now trades as a single entity, accounting for about 8.2 per cent of the FTSE All Share, it somewhat confusingly has two shares quoted on the London Stock Exchange. 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.

Financial Times: Shell seeks targets on fuel from plants

Financial Times: Shell seeks targets on fuel from plants

By Fiona Harvey,Environment Correspondent

Published: Saturday July 23 2005

Royal Dutch Shell has called for compulsory targets on the amount of transport fuel to come from plants, an environmentally friendly energy source known as biofuel.

The oil company’s call adds to pressure on the government, which has been reluctant to make it compulsory for petrol to contain a small percentage of biofuel because it could push up the price of petrol.

Lord Oxburgh, chairman of Shell, said: “Indicative targets are a waste of space. What industry would like is very clear targets and a very clear timescale . . . and make it mandatory.” 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.

IrelandOn-Line: Shell responds to Minister’s letter

IrelandOn-Line: Shell responds to Minister’s letter

Saturday 23/07/2005 – 15:57:11

Shell E&P Ireland has responded to a letter from the Department of Communications, Marine and Natural Resources saying that they have been “meticulous in complying with all of the conditions” attached to the Corrib pipeline project to date.

In a statement issued this afternoon, Shell says that it acknowledges welding has taken place but only between the terminal and the upper river crossing through Coillte lands.

They say that “no such work has been undertaken anywhere else on the onshore pipeline route”. 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.

Ulster TV: Shell rejects Mayo pipeline claims

Ulster TV: Shell rejects Mayo pipeline claims

SATURDAY 23/07/2005 15:51:21

Shell has rejected claims that it has breached the consents it got from the Irish Department of Natural Resources to begin preparations for its controversial gas pipeline in County Mayo.

Minister Noel Dempsey had accused the company of a breach of the consents – he says he is waiting for their response before he decides what action to take.

But in a statement this afternoon, Shell says it has been meticulous in complying with all of the conditions attached to the project to date. 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.

RTE NEWS (IRELAND): Dempsey concerned over Shell pipeline

RTE NEWS (IRELAND): Dempsey concerned over Shell pipeline

Saturday 23 July 2005 15:00

The Minister for Communications, Marine and Natural Resources, Noel Dempsey, has said he believes Shell may have breached the terms of the permissions given to it in relation to the development of the controversial pipeline in Co Mayo.

The Minister said Dept officials had carried out an inspection at the site earlier this week and subject to further legal advice, it was his view that a breach of the consents given to Shell in relation to the pipeline had occurred.

He said a letter had been written to the company asking them to respond to this and he was regarding the matter as ‘very serious’. 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.

IrelandOn-Line: Shell accused of breaching terms of Corrib construction

IrelandOn-Line: Shell accused of breaching terms of Corrib construction

“Noel Dempsey, the Natural Resources Minister, has accused the company behind the controversial gas pipeline in Co Mayo of breaching the consents given to it to carry out work…”: “Mr Dempsey says the breaches are “very serious” and has called on Shell to respond immediately.”

Saturday 23 July 2005

23/07/2005 – 13:30:16

Noel Dempsey, the Natural Resources Minister, has accused the company behind the controversial gas pipeline in Co Mayo of breaching the consents given to it to carry out work at the site in Ballinaboy.

A letter sent to the chairman of Shell Ireland today, on behalf of Noel Dempsey, says that works, including the welding of parts of the pipeline, represent what he calls “a departure from the terms issued” to the company.

Shell has been preparing to build a €300m gas terminal at Ballinaboy. 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.

Yet another PR disaster for Shell

ShellNews.net: Yet another PR disaster for Shell after Nigeria, Brent Spar, the reserves debacle and the $10 billion cost overrun on the Sakhalin-2 project: now the Corrib Irish pipeline “cause célèbre”

Saturday 23 July 2005

By John Donovan

The following article about the controversial Corrib pipeline project in Ireland was published by ShellNews.net three weeks ago. This was before the shock announcement by Shell regarding the $10 billion cost overrun on the Sakhalin-2 project in Russia.

We launched a webpage under the prophetic heading of “SHELL PR DISASTER IN IRISH PIPELINE COURT BATTLE”. It now contains getting on to 100 news stories. (SHELL PR DISASTER IN IRISH PIPELINE COURT BATTLE) 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 Independent (UK): Shell’s game of two halves comes to an end

The Independent: Shell’s game of two halves comes to an end

“Shell has also created a single board, after blaming its dual-nationality structure for the disasters of recent years. It had been overstating its reserves of oil, and had to fess up last year. But only last week the company revealed the development of its Sakhalin natural gas field in Russia was 100 per cent over budget, a whopping extra cost of $10bn (pounds 5.8bn) which had not even been hinted at when Shell sold part of the field earlier this month.”: “You wouldn’t bet there aren’t other unpleasant discoveries still to be made… Stephen Foley

Saturday Jul 23, 2005

Shell, the Anglo-Dutch oil giant, has merged its Anglo half, Shell Transport & Trading, with its Dutch half, Royal Dutch. If you owned 100 Shell shares on Tuesday, you now own 29 Royal Dutch Shell ‘B’ shares. They fell a little on their stock market debut, but hang on to them “the company you own still has the same assets and prospects.

Shell has also created a single board, after blaming its dual-nationality structure for the disasters of recent years. It had been overstating its reserves of oil, and had to fess up last year. 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 says it faces sanctions in Iran

THE NEW YORK TIMES: Shell says it faces sanctions in Iran

“Royal Dutch Shell PLC disclosed in a filing this week that it faces risks of U.S. sanctions in Iran.”

Posted Saturday 23 July 2005

By THE ASSOCIATED PRESS

Royal Dutch Shell PLC disclosed in a filing this week that it faces risks of U.S. sanctions in Iran.

In a filing with the U.S. Securities and Exchange Commission related to the merging of its British and Dutch halves Wednesday, the oil company said its investments in Iran and Syria could mean it will be barred from financing by U.S. institutions.

The company declined to comment for this article.

The SEC has written to European and U.S. oil companies active in embargoed countries, asking them to inform investors about the risks they face from investing in countries the United States accuses of supporting terrorism. 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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