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July 28th, 2005:

Reuters: Iran: Door open to foreign investors

Reuters: Iran: Door open to foreign investors

“Legislators have accused oil giant Royal Dutch Shell, which operates Iran’s 200,000 barrels per day offshore Soroush and Nowruz oilfields, of “cultural imperialism”.”:

Posted Thursday 28 July 2005

Iran’s incoming President Mahmoud Ahmadinejad will be open to foreign investors and Western companies should not take fright, Foreign Ministry spokesman Hamid Reza Asefi said.

Ahmadinejad, viewed by Western countries as a conservative, takes power next month after he won an election in June in the second-biggest crude exporter of the Organization of the Petroleum Exporting Countries (OPEC).

Some conservatives, who want domestic companies to work on Iranian projects, have been buoyed by comments from the new president that foreign companies will not have preferential treatment. 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.

Irish Times: Court rules out challenge to Shell planning permission

Irish Times: Court rules out challenge to Shell planning permission

Posted Thursday 28 July 2005

The High Court has refused to permit a local man bring a challenge to An Bord Pleanala’s granting of planning permission to Shell E&P Ireland Ltd to develop a gas terminal in connection with the off-shore Corrib gas field.

Martin Harrington, of Geesala, Ballina, who lives about 20 miles from the proposed terminal, had sought leave to bring the judicial review proceedings arising from his concerns about the granting of permission to develop the terminal at a site at Bellanaboy. 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.

Chicago Daily Herald, IL: Shell settles suit over tainted landfill soil

Chicago Daily Herald, IL: Shell settles suit over tainted landfill soil

Thursday 28 July 2005

By Patrick Waldron

Daily Herald Staff Writer

Shell Pipeline Co. LP has agreed to pay $155,000 worth of fines — including $50,000 to go to a Kane County recycling program — as a penalty for dumping benzene-tainted soil at Settler’s Hill landfill in Geneva.

“We are pleased that $50,000 will remain in Kane County to support electronic waste recycling,” Illinois Attorney General Lisa Madigan said Wednesday in a statement announcing the settlement. “Additionally, the $105,000 will support environmental enforcement efforts across the state.” 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.

BBC TV NEWS: Shell rides on soaring oil prices

BBC TV NEWS: Shell rides on soaring oil prices

“The Anglo-Dutch group was finally unified last week in a bid to rebuild investor confidence after last year’s oil reserves debacle. Previously the company had been co-owned by British and Dutch holding firms.”

Thursday 28 July 2005

Rocketing oil prices have helped Royal Dutch Shell to a more than 20% jump in second-quarter profits.

Shell said current cost of supply (CCS) net profits, excluding gains from the rising value of fuel stocks, were $4.62bn (£2.65bn), up from $3.66bn.

The oil giant said its oil and gas production averaged 3.526 million barrels a day.

It added it was raising the amount it would spend in exploration in 2005 and 2006 to $1.8bn a year from $1.5bn.

The Anglo-Dutch group was finally unified last week in a bid to rebuild investor confidence after last year’s oil reserves debacle. Previously the company had been co-owned by British and Dutch holding firms. 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.

Reuters: Royal Dutch Shell profits soar on high oil

Reuters: Royal Dutch Shell profits soar on high oil

Thu Jul 28, 2005 7:46 AM BST

LONDON (Reuters) – Royal Dutch Shell, the world’s third-largest oil firm by market capitalisation, reported a more than 20 percent jump in second quarter profits on Thursday on the back of high oil prices.

Shell said in a statement its second quarter current cost of supply (CCS) net profit, which excludes gains from the rising value of fuel stocks, was $4,626 million (2,654 million pounds), up from $3,663 million for the same period last year.

Excluding a non-operating charge of $545 million, the “clean” CCS result, which is the measure most watched by investors, was $5,171 million. 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.

MosNews (Russia): Sakhalin-2 LNG Project Under Fire From Environmentalists, Lenders

MosNews (Russia): Sakhalin-2 LNG Project Under Fire From Environmentalists, Lenders

Thursday 28 July 2005

Sakhalin Energy, the operator of the Sakhalin-2 oil and gas project, was compelled to suspend the construction of a liquefied natural gas (LNG) plant because of strong protests from environmentalists.

The information was reported on Wednesday, July 27, by Russian Nezavisimaya Gazeta (Independent Gazette) daily, which quoted analysts as saying that environmental concerns are being used as an instrument in the tough battle for Sakhalin’s vast natural resources.

The Sakhalin Regional Court overruled the State Ecological Expert Commission’s approval to construct a quay in the Aniva Bay. The court’s decision could lead to a revision of not only the investment component of the project, but also of the timeline for the pipeline’s commencement, with 2008 being the deadline. Such a situation cannot satisfy the investors (Royal Dutch/Shell owns 55%, Sakhalin Holdings B.V., a subsidiary of Japane’s Mitsui, owns 25% and Diamond Electric Sakhalin B.V., a subsidiary of Mitsubishi, has 20%) because the greater part of the project’s resources are included in contracts. 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: Shell announces £5.8bn profits

The Guardian: Shell announces £5.8bn profits

Thursday 28 July 2005

Mark Tran

Thursday July 28, 2005

Royal Dutch Shell today reported half-year profits of £5.8bn in its first results as a unified company.

The oil giant’s profits – equivalent to £1.3m an hour – were in line with the figures released by its rival BP earlier this week, which established a new record for a UK company.

Shell said it had benefited from high oil prices, which have continued to rise this year because of strong demand, particularly from China.

The company also pledged to increase the amount of money spent on exploring for new oilfields to $1.8bn (£1.03bn) from $1.5bn both this year and next. 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.

BLOOMBERG: Shell 2nd-Qtr Profit Misses Estimates as Output Falls (Update4)

BLOOMBERG: Shell 2nd-Qtr Profit Misses Estimates as Output Falls (Update4)

Thursday 28 July 2005

July 28 (Bloomberg) — Royal Dutch Shell Plc, Europe’s second- biggest oil company, posted lower-than-expected profit for the second quarter as production fell. The report was the first since Shell’s British and Dutch parent companies combined.

Profit excluding gains or losses in the value of its oil inventory and a one-time charge rose 22 percent to $5.17 billion, which missed estimates of $5.4 billion, according to a Bloomberg News survey of eight analysts. Revenue, which benefited from higher oil prices, advanced 33 percent to $82.6 billion, Shell said today in a statement. 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.

Financial Times: Case of ex-Shell chief could make life complicated for FSA

Financial Times: Case of ex-Shell chief could make life complicated for FSA

Thursday 28 July 2005

By Barney Jopson

Published: July 28 2005

The Financial Services Authority and headstrong business executives do not mix. Following a clash with Sir David Prosser, chief executive of Legal & General, at a tribunal earlier this year, the FSA this week crossed swords in the same place with Sir Philip Watts, former chairman of Royal Dutch Shell.

L&G’s criticism of a mis-selling case against it triggered an overhaul of FSA enforcement procedures announced last week. Sir Philip’s action has the potential to prompt even more change at the regulator. 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 says asset swap with Gazprom to proceed despite Sakhalin cost overruns

AFX Asia (Focus): Shell says asset swap with Gazprom to proceed despite Sakhalin cost overruns

“Van der Veer told reporters in a conference call that Shell and Gazprom are currently engaged in “detailed negotiations” on the terms of the swap following the signing of a framework agreement on July 7.”: “He was commenting on newspaper reports that Gazprom felt short-changed with the exchange, given that the cost overruns and delays at Sakhalin have effectively reduced the value of the asset.”

Thursday July 28, 2005

LONDON (AFX) – Royal Dutch Shell PLC and Russian gas monopoly Gazprom are proceeding with plans to exchange major assets in Russia despite the massive cost overruns at the giant Sakhalin II gas project, said Shell chief executive Jeroen van der Veer.

Shell announced that Sakhalin-II was 10 bln usd overbudget a few days after it signed a preliminary agreement giving Gazprom a 25 pct in the project.

Shell, in turn, will get a 50 pct interest in Gazprom’s Zapolyarnoye field in Siberia, the world’s fifth largest gas deposit. 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.

Irish Times: Mayo gas pipeline controversy

Irish Times: Mayo gas pipeline controversy

“Shell now tells us it has been meticulous in observing environmental regulations. Would this be the same Shell oil giant which has removed billions of dollars worth of oil from the Niger delta while flouting environmental regulations for decades?

Thursday, July 28, 2005

Madam, – Shell now tells us it has been meticulous in observing environmental regulations. Would this be the same Shell oil giant which has removed billions of dollars worth of oil from the Niger delta while flouting environmental regulations for decades?

Despite international criticism Shell has yet to be held accountable for its environmental record in Nigeria. Only last month it announced a postponement of its repeated promise to end gas-flaring there.

What evidence is there that Shell can be trusted in Ireland? Royal Dutch Shell posted record profits of $5,548,000,000 in the first quarter of this year while the people of the Niger delta still experience poverty and environmental destruction? Rossport is right to say “No”. – Yours, etc, 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.

Debacle surrounding the Corrib gas project

Irish Independent: A lack of information

Thursday July 28, 2005

Sir – The debacle surrounding the Corrib gas project is a monument to miscommunication, misinformation and misrepresentation, whether intentional or not. Shell has been less than forthright in offering readily understood explanations of the project. Recently a representative of Shell E&P stated that, even if the processing was moved offshore, the pressure in the pipeline coming ashore would be essentially the same. This is misleading. An offshore platform could readily incorporate pressure reduction equipment and likely would do so as a step in the gas processing. As a matter of safety, there is no requirement for offshore pressure reduction but it would be a consideration in risk mitigation. 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.

Bumper spending knocks Shell

THE TIMES (UK): Bumper spending knocks Shell: “It said its spending programme would also reflect its involvement in Sakhalin II, the Siberian gas project where the budget has now doubled to $20 billion.”

Thursday 28 July 2005

By Miles Costello, Times Online

Royal Dutch Shell, the world’s third largest oil group, has reported a 34 per cent rise in second-quarter profits to $5.2 billion in its first set of results as a unified company.

But in a gently rising market this morning, shares in Shell had slipped 18p – or more than 1 per cent – to 1,772p.

The stock slipped as Shell confirmed a hike in the amount of capital it had invested in the second quarter to $4.1 billion, from $3.4 billion in the same quarter 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.

Shell’s Net Jumps 35% On High Oil Prices

THE WALL STREET JOURNAL: Shell’s Net Jumps 35% On High Oil Prices

By BENOIT FAUCON

DOW JONES NEWSWIRES

July 28, 2005 10:37 a.m.

LONDON — Royal Dutch Shell Group PLC posted a 35% rise in net profit for the second quarter, buoyed mainly by high oil prices.

It was the first time the Anglo-Dutch oil giant reported earnings as a single company after unifying its twin parents, Shell Transport & Trading and Royal Dutch Petroleum, last week.

Shell, the world’s third-largest publicly traded oil company by market capitalization, said net profit rose to $5.46 billion for the three months ended June 30 from $4.05 billion a year earlier. The latest quarter’s results included charges totaling $545 million, compared to $573 million in charges for the year-earlier quarter, mostly from the fluctuating value of unrealized gas contracts in Britain and net tax charges. 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 Independent: Shell reports £1.3m-an-hour profits

The Independent: Shell reports £1.3m-an-hour profits

By David Winning, PA City Staff

Published: 28 July 2005

The oil giant Royal Dutch Shell unveiled half-year profits of £5.84 billion today, as it posted its first results as a unified company.

The figure – equivalent to £1.3 million an hour – mirrors the profits of rival BP earlier this week, which established a new record for a UK company.

Shell said its profits were boosted by the oil price rising to record highs since January and it pledged to increase the amount of money spent on exploring for new oilfields to 1.8 billion US dollars (£1.03 billion) in both this year and next. 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.

Financial Times: Disappointment as Shell reveals weak results

Financial Times: Disappointment as Shell reveals weak results

“Shell, which this month united its Dutch and UK holding companies, is struggling to keep up. It lags behind competitors in production growth, faces lawsuits in the US over false reserves statements and announced a $10bn cost overrun at Sakhalin-2, the flagship Russian project.”

By Carola Hoyos in London

Published: July 28 2005 19:20

Royal Dutch Shell, the world’s third biggest listed energy group, disappointed investors on Thursday as its first earnings report as a unified company revealed weaker-than-expected results.

Second-quarter cost of supply net profit, which excludes gains on fuel stock and non-operational charges, was $5.17bn, compared with expectations of $5.44bn.

Jonathan Copus, analyst at Investec Securities in London, said: “This is a disappointing set of numbers and we will be reviewing our forecasts.” 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.

Sky-high crude price propels Shell to within touching distance of BP

London Evening Standard: Sky-high crude price propels Shell to within touching distance of BP

Thursday 28 July 2005

By Jim Armitage

Shell’s profits surged by more than a third in the first half of the year, thanks to record oil prices.

With crude currently hovering around $60 a barrel, the company enjoyed profits of $10.2 billion (GBP5.8 billion) — up 39 percent on the same period last year. Shell is not alone in enjoying a big boost to earnings on the back of rampant oil prices. BP said earlier this week it made GBP6 billion in its half-year.

Shell is attempting to win back investor confidence following the scandal last year when it was found to have been grossly exaggerating the amount of oil it had in reserves, waiting to be pumped out of the ground. Today it stressed it would be spending $1.8 billion a year for the next two years in its hunt for new 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.