Royal Dutch Shell Group .com Rotating Header Image

Posts on ‘July 25th, 2005’

BizWorld: Govt asks Shell to explain new work

BizWorld: Govt asks Shell to explain new work

“Government inspectors have confirmed that Shell carried out unauthorised works on its controversial pipeline at Rossport in Co Mayo.”: “The inspections have confirmed allegations by supporters of the five local men imprisoned for protests against the pipeline.”: “The Department has now written to Shell chairman Andy Pyle, telling him that the work was unauthorised and seeking an explanation.”

Monday, July 25 2005

(BizWorld)

Government inspectors have confirmed that Shell carried out unauthorised works on its controversial pipeline at Rossport in Co Mayo.

They found that the company had welded about three km of pipeline without first obtaining permission from the Department of Communications, Marine and Natural Resources.

The inspections have confirmed allegations by supporters of the five local men imprisoned for protests against the pipeline.

Each stage of work on the project needs to be authorised in advance by the Department. 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 Independent: Shell pushed to set Rossport protesters free

Irish Independent: Shell pushed to set Rossport protesters free

“Oil company welded together 3km of pipeline without State’s consent”: “Labour party leader Pat Rabbitte said yesterday that Shell’s admission that it breached regulations provided a window of opportunity to end the dispute which saw the Mayo men jailed for contempt.”

Monday 25 July 2005

Oil company welded together 3km of pipeline without State’s consent

SHELL is today under pressure to apply to lift the injunction which put five protesters behind bars, after it emerged the oil company had welded together at least 3km of pipeline without government consent.

Labour party leader Pat Rabbitte said yesterday that Shell’s admission that it breached regulations provided a window of opportunity to end the dispute which saw the Mayo men jailed for contempt.

Meanwhile, the Green party has called for an emergency meeting this week of the Dail committee for communications, marine and natural resources to ask the Government to explain why it failed to monitor Shell’s activities in Belmullet more closely. 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: Dempsey sets up body to monitor gas project

Irish Times: Dempsey sets up body to monitor gas project

“The development comes as Shell E&P Ireland is under pressure to lift its injunction imposed on north Mayo residents who are opposed to the pipeline, following its admission of a “technical breach” of ministerial consents. Five local men have been in prison for a month over their breach of the injunction.”: “More than 2,000 people rallied in support of the five men in Dublin on Saturday.”

Monday July 25, 2005

Lorna Siggins, Marine Correspondent

Minister for the Marine Noel Dempsey has set up a high-level technical group to monitor the €900 million Corrib gas project in north Mayo.

The new group is independent of the Petroleum Affairs Division (PAD), which has been responsible for monitoring the project to date, and will be led by Tom McManus, former chief technical officer in the Department of Public Enterprise.

It will include a senior geologist, engineer, assistant principal officer and legal expert, and will advise the Minister on the safety review which he has commissioned. 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: Exxon, Shell, BP Profits Probably Surged Amid Record Oil Prices

BLOOMBERG: Exxon, Shell, BP Profits Probably Surged Amid Record Oil Prices

“Finding new reserves and raising production is increasingly difficult. Two-thirds of Shell’s most prospective wells in 2004 were dry holes…”: “Shell, based in The Hague, said July 14 that costs to develop its Sakhalin field in Russia, the world’s largest oil and gas project, may double to $20 billion…”

Monday 25 July 2005

July 25 (Bloomberg) — Exxon Mobil Corp., BP Plc and Royal Dutch Shell Plc the world’s three biggest publicly traded oil companies, will probably report record second-quarter profits because of surging oil and gas prices, analyst surveys showed.

BP, based in London, tomorrow may say second-quarter earnings rose 44 percent to $5.6 billion, according to the median of estimate from six analysts surveyed by Bloomberg. Exxon Mobil may report on July 28 that profit rose to about $8 billion from $5.8 billion a year earlier, according to Credit Suisse. Shell, which reports on the same day, may say net income jumped 46 percent to $5.4 billion, the Bloomberg survey found. 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: Ousted Shell chairman begins fight against regulator

The Guardian (UK): Ousted Shell chairman begins fight against regulator

“A year ago, the regulator decided to fine the company after discovering “unprecedented misconduct”. Sir Philip is not named in the report, but he argues that he could be identified because he was running the company at the time.”: “He left Shell in March 2004 after it had admitted overstating reserves by almost a quarter. The company has been trying to put the episode behind it…”

Monday July 25, 2005

Jill Treanor

Sir Philip Watts, the former chairman of oil company Shell, today begins a battle with the Financial Services Authority over his claim that the City regulator abused his rights.

Ousted over the oil company’s reserving problems, Sir Philip is disputing the way in which the City regulator handled his case when it levied a record £17m fine on Shell.

The Financial Services and Markets Tribunal, which is hearing the case, is convening today to establish whether Sir Philip should be allowed to proceed with his claim. 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.

Ex-Shell chief to challenge FSA ruling

Financial Times: Ex-Shell chief to challenge FSA ruling

“Sir Philip Watts, former chairman of Royal Dutch/Shell, is due to challenge the Financial Services Authority at the Financial Services and Markets Tribunal today.”: “He claimed he had been “identified and prejudiced” when the regulator fined Shell £17m in August 2004 for misleading the market by overstating its oil and gas reserves between 1998 and 2003.”

Monday 25 July 2005

By Kate Burgess

Published: July 25 2005

Sir Philip Watts, former chairman of Royal Dutch/Shell, is due to challenge the Financial Services Authority at the Financial Services and Markets Tribunal today.

Sir Philip, who was forced to resign from Shell in March 2004, first launched his appeal against the FSA in the autumn. He claimed he had been “identified and prejudiced” when the regulator fined Shell £17m in August 2004 for misleading the market by overstating its oil and gas reserves between 1998 and 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.

Daily Telegraph: After the oil furore Shell and BP need to impress

Daily Telegraph: After the oil furore Shell and BP need to impress

“The merger of Shell’s two operating subsidiaries to form one company has already focused attention on the group. In addition, Shell’s former chairman Sir Philip Watts will appear at a preliminary hearing today over whether the Financial Services Authority should have given him a chance to respond before publishing its report into Shell’s overstatement of its reserves last year.”

Monday 25 July 2005

The spotlight turns on oil companies as both Shell and BP report first-half results this week. 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 WALL STREET JOURNAL: The Leapfrog Strategy

THE WALL STREET JOURNAL: The Leapfrog Strategy

Monday 25 July 2005

By JANE LANHEE LEE
Staff Reporter of THE WALL STREET JOURNAL
July 25, 2005; Page R6

In a lab on the outskirts of Shanghai, professor Wan Gang and his students are leading an effort to secure China’s energy independence. Last year, the team from Tongji University created the Start II, a prototype fuel-cell car that runs on hydrogen and spurts nothing but water from its tailpipe.

Now they are trying to make it cheaper and more efficient — but, as Mr. Wan sees it, they are running out of time. 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.

Venezuela Hits Oil Firm With Back-Tax Bill, Fine

THE WALL STREET JOURNAL: Venezuela Hits Oil Firm With Back-Tax Bill, Fine

“Last week, Royal Dutch Shell was the first foreign oil company to receive a tax bill and fine from the Seniat.”

Monday July 25, 2005; Page A13

DOW JONES NEWSWIRES

July 25, 2005; Page A13

CARACAS, Venezuela — Venezuela’s tax authority presented Harvest Natural Resources Inc. with an $85 million retroactive income-tax bill along with a fine — the second levied on a foreign oil company this month.

In a statement Friday, the tax authority, the Seniat, said the bill was for unpaid income taxes from 2001 to 2004. If Harvest pays the taxes within 15 days, it will be fined an additional 10% above the 180 billion bolivars it owes. Otherwise, the U.S. company could face fines of as much as 250% of the amount, the Seniat 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.

London Evening Standard: Ex-Shell boss aims ‘to put record straight’

London Evening Standard: Ex-Shell boss aims ‘to put record straight’

“Watts is accusing the Financial Services Authority of blackening his name by association in its report into the oil giant’s disastrous over-reporting of how much oil it had in its reserves.”

Monday 25 July 2005

Jim Armitage,

SIR Philip Watts, the former chairman of Shell, today launched a legal fight to restore some of his battered reputation.

Watts is accusing the Financial Services Authority of blackening his name by association in its report into the oil giant’s disastrous over-reporting of how much oil it had in its reserves.

He is furious that the watchdog published its highly critical findings without giving him the right to defend himself against the allegations.

Under FSA rules, if an investigation is about to criticise individuals, it must first put the charges to the people accused, hearing their defence before publishing its report. 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.

Why has Ex-Shell Boss Watts brought proceedings against the FSA?

ShellNews.net: Why has Ex-Shell Boss Watts brought proceedings against the FSA who did not name him in their Shell reserves scandal report but not against publishers and broadcasters who have named him in connection with the debacle?

Tuesday 26 July 2005

Numerous media reports have categorically named and blamed Sir Philip Watts for the Shell reserves debacle which destroyed Shell’s reputation. Yet Sir Philip has not brought proceedings against any of them. So why is he embroiled in proceedings against the Financial Services Authority who did not name and blame him in their report?

To take an example of one TV broadcast, we have provided extracts below from a BBC TV programme about the scandal – “The Money Programme”, aired on 15 July 2004. 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.

London Evening Standard: Ex-Shell boss in showdown with FSA

London Evening Standard: Ex-Shell boss in showdown with FSA

“The case is crucial for Watts as the US Department of Justice is ‘still evaluating’ criminal action against Shell directors.”: “Watts is named in US class action lawsuits seeking ‘unspecified damages’ from present and former directors.”

Monday 25 July 2005

James Rossiter,

FORMER Shell chairman Sir Philip Watts and the Financial Services Authority (FSA) were today set to clash in a key hearing that could determine the city regulator’s legal rights and powers of investigation.

Watts claims he was ‘identified and prejudiced’ when the FSA explained in a public announcement why it fined the oil giant a record £17m last August over its reserves fiasco. The case is crucial for Watts as the US Department of Justice is ‘still evaluating’ criminal action against Shell directors. 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.
%d bloggers like this: