Posts from ‘August, 2005’

Financial Times: Storm over the oil industry

In one company, Shell, the recruitment problems go all the way to the top: analysts think that Europe’s second biggest energy group – which had a reputation as a training ground for the industry’s brightest – lacks qualified candidates eventually to fill top rank posts such as chief executive and head of exploration and production. Concern over filling such posts is seen as a drag on the company’s share price

Posted Wednesday 31 August 2005

EXTRACTS FROM ARTICLE read more

New Jersey Law Journal: U.S. “District Judge John Bissell in Newark, N.J., approved a $90 million settlement for current and former employees of Royal Dutch Shell, who had alleged that Shell violated its fiduciary duty by misstating oil reserve totals, causing its stock to nosedive. The settlement, in “In re Royal Dutch/Shell Transport ERISA Litigation, CV-04-1398,” allows them to recoup 78 percent of their losses.”

Wednesday 31 August 2005

3rd Circuit: Employees May Sue Under ERISA When Company’s Stock Crashes

3rd Circuit resolves standing issue that has divided federal courts

Lisa Brennan

New Jersey Law Journal

08-30-2005

Participants in 401(k) plans face a smorgasbord of options, some riskier than others. Now, those who invested in company stock only to see it plummet have been handed a procedural remedy.

A federal appeals court has ruled that participants can sue when their company’s alleged fiduciary violations harm only those who chose the stock option. read more

Financial Times: Pricing pressure builds as oil majors count the cost of Katrina

“The Mars platform, one of the Gulf’s biggest producers of oil and gas, has sustained some damage, Royal Dutch Shell, the operator, said. But not only production wells have been affected. Exploration rigs, of which there are almost no spares available worldwide because of surging demand from oil companies keen to cash in on the high oil prices, were also within the path of Katrina.”

By Carola Hoyos in London, Sheila McNulty in Houston and Victor,Mallet in Jakarta

Published: August 31 2005

As the oil industry yesterday assessed damage done by Hurricane Katrina to rigs, pipelines and refineries in the Gulf of Mexico, pressure continued to build on oil and gas prices.

“At some point the relentless drumbeat of news driving oil and gas prices higher is sure to stop, but we gave up holding our breath about two years ago,” said Ken Sill, head of CSFB’s oilfield services and equipment research group. “Katrina is just another example of how life interferes with plans and projections in the energy complex – uncertainty remains a constant.” read more

BLOOMBERG: Shell U.S. Capline Oil Pipeline Shut After Hurricane

“The Capline pipeline transports up to 1.2 million barrels a day of crude oil from the Gulf of Mexico and imported from overseas. It runs more than 650 miles (1,040 kilometers) from St, James, Louisiana to Patoka, Illinois, according to Shell.”

Wednesday 31 August 2005

Aug. 31 (Bloomberg) — Royal Dutch Shell Plc, Europe’s second-biggest oil company, said its Capline crude oil pipeline connected to Gulf of Mexico offshore production was shut because of power failures after Hurricane Katrina swept through the area.

“The Shell-operated Capline Pipeline system did not incur damage from Hurricane Katrina, but is currently down due to multiple pump stations that are without power,” Shell said in a statement on its Web site dated yesterday. read more

Financial Times: Tougher teeth needed

“Why should Royal Dutch/Shell have been hit for £17m for market abuse while the largest fine for mis-selling was a mere £1.9m handed out to Lloyds TSB for the precipice bonds affair?”

Wednesday 31 August 2005

By Martin Dickson

Published: August 31 2005

The Financial Services Authority barks a lot about mis-selling of products but does it have enough bite?

Which? the consumer campaigning association, thinks not.

In a paper published yesterday, it calls on the FSA to impose fines so large on companies guilty of mis-selling that their profit is hit and big investors start making waves.

Fines by the FSA’s regulatory decisions committee are something of an evolving black art.

Why should Royal Dutch/Shell have been hit for £17m for market abuse while the largest fine for mis-selling was a mere £1.9m handed out to Lloyds TSB for the precipice bonds affair? True, Lloyds also made £98m in compensation payments but so it should. The arguments against larger corporate fines for really serious offences are that they hurt shareholders rather than their managerial agents and that they may undermine the UK’s culture of co-operation between the regulator and regulated. read more

The Mayo News Online (Ireland): Rossport Five could face jail until October

“The legal teams are talking, and are in continual contact, but there is little point calling for dialogue when one party are being extremist and are not going to give anything. Shell will not vacate the injunction because they wish to have recourse to this court order in the future. I don’t know if their intention is to imprison everyone in Rossport, but this is an appalling situation. Taking out full-page advertisements in newspapers is only PR.”

Wednesday 31 August 2005

NO movement seems likely in the ongoing case of the Rossport Five, with one leading opponent of the Corrib onshore pipeline admitting little progress is likely prior to October.

Wednesday of last week saw Cllr Henry Kenny, Cathaoirleach of Mayo County Council, meet the five imprisoned men in Cloverhill Prison, along with Cllr Paddy McGuinness, Fine Gael whip on the authority. The men had said they would purge their contempt of court if Shell E&P Ireland Ltd (SEPIL) were to remove the injunction which ultimately led to their incarceration, and there were fleeting hopes last week that enough common ground existed between the two sides’ respective legal teams to allow this to happen. read more

Royal Dutch Shell settles Class Action Lawsuit and undertakes ethics makeover

Wednesday 31 August 2005: 20.00 ET

By John Donovan

Shell today announced that a settlement has been reached with plaintiffs in a shareholder derivative actions arising out of Shell’s 2004 reserves recategorisation – the Shell reserves scandal.

The action alleged that named individual defendants and third parties including PRICEWATERHOUSECOOPERS and KPMG breached their fiduciary duties to the companies, abused their control over the Companies, aided and abetted breaches by others, and/or committed gross mismanagement and/or constructive fraud. read more

ROYAL DUTCH SHELL PLC NEWS HEADLINES AUGUST 2005

ShellNews.net: Royal Dutch Shell settles another US Class Action Lawsuit and undertakes ethics makeover: Wednesday 31 August 2005: 20.00 ET: READ

The Mayo News Online (Ireland: Rossport Five could face jail until October: “The legal teams are talking, and are in continual contact, but there is little point calling for dialogue when one party are being extremist and are not going to give anything. Shell will not vacate the injunction because they wish to have recourse to this court order in the future. I don’t know if their intention is to imprison everyone in Rossport, but this is an appalling situation. Taking out full-page advertisements in newspapers is only PR.”: Wednesday 31 August 2005: READ read more

FROM OUR AUGUST 2005 SHELL NEWS ARCHIVE

BLOOMBERG: Shell Causes Earthquakes in the Netherlands

“Northern Netherlands Trembles as Gas Extraction Triggers Quakes”: The entire area is sinking…

Posted 30 August 2005

Northern Netherlands Trembles as Gas Extraction Triggers Quakes Aug. 29 (Bloomberg) — Arie de Langen says he never thought he’d have to worry about earthquakes in his northern Dutch village of Sappemeer.

Quakes were unheard of and homes in the dozens of towns and villages that dot the region were built with wooden frames and beamed roofs. Then a venture between Royal Dutch Shell Plc, Europe’s No. 2 oil company, and Exxon Mobil Corp. began extracting natural gas in the region, triggering land shifts. read more

News Straits Times (Malaysia): MLNG signs gas deals with 3 firms

“At the signing, Petronas was represented by its vice president of exploration and production business Abdullah Karim… Sarawak Shell by Shell Malaysia chairman Datuk Jonathan Chadwick”

Tuesday 30 August 2005

MALAYSIA Liquefied Natural Gas Sdn Bhd (MLNG), the owner and operator of the country’s first LNG plant in Bintulu, Sarawak, has secured gas supply of up to 400.4 trillion British thermal units until 2020.

The company yesterday concluded a gas sales agreement (GSA) with Petroliam Nasional Bhd (Petronas), Petronas Carigali Sdn Bhd and Sarawak Shell Bhd for the supply of the gas to the plant.

Petronas said in a statement yesterday that the GSA effectively extends a similar earlier arrangement between the same parties that expired in March 2003. read more

Reuters: Shell says Mars platform damaged after Katrina

Tuesday 30 August 2005

Tue Aug 30, 2005 10:25 AM BST

LONDON (Reuters) – Royal Dutch Shell said an aerial inspection of its Mars platform in the Gulf of Mexico indicated some damage to its upper deck following the passing of Hurricane Katrina.

“A fixed-wing reconnaissance flight has completed a preliminary assessment of damage to Shell’s GoM assets. An early report indicates Shell’s Mars platform has sustained topside damage,” Shell (RDSa.L: Quote, Profile, Research)(RDSb.L: Quote, Profile, Research) said on its website, in a message dated August 29. read more

Asia Pulse: SOLAR SHELL ENTERS INDONESIAN MARKET FOR SOLAR ENERGY

TUESDAY Aug 30, 2005

JAKARTA, Aug 30 Asia Pulse – Solar Shell has sounded out the market of solar energy in Indonesia by opening its marketing office in Jakarta, chief of Indonesia Shell group Bob Moran said in a press release here on Monday.

He said the opening of the Jakarta office was based on Shell`s experience in construction solar energy generating plants in India, Sri Lanka and the Philippines, and the company`s success in meeting the solar energy demands in the rural areas in those countries.

Moran noted further that they had a commitment to supply solar power to 2,000 homes in rural areas in the next two years. read more

Irish Times: Jailed Mayo men accuse Shell of ‘vindictiveness’

“In turning down a request from Mayo County Council to with-draw the restraining injunction against the men, Shell said such a move would undermine the entire legal basis for the onshore pipeline. A Shell spokesman said yesterday that setting aside the injunction was not a realistic option.”

Liamy McNally and Tim O’Brien

Aug 30, 2005

The five Mayo men imprisoned for contempt of court in connection with their opposition to the proposed Corrib gas pipeline have accused Shell of “vindictiveness and spite” in not facilitating their release from prison.

The five said the refusal by Shell to withdraw a temporary injunction was hindering their ability to prepare for a full hearing of the case scheduled for October.

In turning down a request from Mayo County Council to with-draw the restraining injunction against the men, Shell said such a move would undermine the entire legal basis for the onshore pipeline. A Shell spokesman said yesterday that setting aside the injunction was not a realistic option. read more

The New York Times: Another Storm Casualty: Oil Prices

“Shell, the company with the largest operations in the Gulf of Mexico, also said yesterday that it would dispatch an aircraft to review the status of its assets in the area.”

By JAD MOUAWAD and SIMON ROMERO

Published: August 30, 2005

The region that produces and refines a major portion of the nation’s oil and natural gas was largely shut down by Hurricane Katrina yesterday, further tightening strained energy markets and sending prices to new highs.

Gulfport, Miss., and New Orleans suffered major damage.

As oil companies evacuated offshore operations throughout the Gulf of Mexico, oil production in that region was reduced by 92 percent and gas output was cut by 83 percent. read more

SHELL MALAYSIAN CHAIRMAN, JON CHADWICK, UNDER FIRE FOLLOWING LEAKED EMAIL

Tuesday 30 August 2005: 11.30 ET

By Alfred Donovan

ShellNews.net has obtained a leaked copy of an email dated 18 August 2005 from Shell Malaysia Chairman, Datuk Jon Chadwick to all Shell employees in Malaysia, which responds to points raised exclusively on this website. Our articles have focused on the strikingly different approach adopted by Shell in response to employee class action lawsuits brought by its USA staff, as opposed to its utterly ruthless treatment dished out to its Shell Malaysian employees. Basically Shell has been deliberately dragging out the Malaysian class action lawsuits even though many of the claimants are elderly, some suffer from memory loss, some are ill and others have already died, while Shell heartlessly drags out the litigation. An example of one of the relevant articles can be read via this link: Read read more

ALARM BELLS RING OVER TENDERING FOR ROYAL DUTCH SHELL CONTRACTS

Monday 29 August 2005: 03.0 ET

By Alfred Donovan

Shell Petroleum Development Company of Nigeria has a double page spread advertisement in the current edition of The Economist magazine (August 27th -September 2nd) inviting tenders for a major contract in Nigeria. There is a volume of small print setting out the tender terms, which includes a provision that Shell will not enter into correspondence on why a company has been short-listed or not short-listed. Basically applicants for “pre-qualification” have to jump through various hoops and submit the required information on a confidential basis. Only companies that pass the pre-qualification evaluation will be eligible to be invited by Shell to “competitively” tender. read more

Stuff (New Zealand): Shell NZ chairman resigns

“The chairman of Shell New Zealand has resigned for family and personal reasons, the company said today.”

Monday 29 August 2005

29 August 2005

The chairman of Shell New Zealand has resigned for family and personal reasons, the company said today.

Paul Zealand will be replaced by Shell’s country manager for Commercial Exploration and Production Dr Ajit Bansal, until the company names a full-time replacement.

Mr Zealand – who has spent 24 years with Shell – has also resigned as general manager of Shell Todd Oil Services, where he will be replaced by New Zealander Rob Jager.

He will leave both positions at the end of September. read more

THE NEW YORK TIMES: Africa’s Oil Comes With Big Downside

“…Shell spokesman Simon Buerk said the company has never paid royalties to local potentates, but ”homage payments” are allowed — limited to $1,000 per project since 2003. A Shell report said it spent $100,000 on such payments last year in Nigeria.”

Posted Monday 29 August 2005

By THE ASSOCIATED PRESS

BUGUMA, Nigeria (AP) — The capital of the ancient Kalabari kingdom is vivid testimony to the downside of Africa’s oil.

A gutted local government building stands by the central square, near a smashed statue of the town’s founding king. Soldiers patrol the streets.

These are scars from a three-month occupation last year by a private militia accused of rapes and random killings, and dozens of villages in the oil-rich Niger River delta have suffered similar violence. read more

Welcome Mr Ollila to Royal Dutch Shell Plc

Monday 29 August 2005: 09.50

By Alfred Donovan

Mr Jorma Ollila is the Chairman designate of Royal Dutch Shell Plc. Reportedly a man of the highest repute, Mr Ollila is due to take up his non-executive position in June 2006. He has a reputation as a dynamic and highly successful businessman. It’s a long time since Shell had someone combining all of these qualities. We wish him
well.

(Sketch courtesy of The Wall Street Journal)

An Open Letter to Mr Jorma Ollila read more

BLOOMBERG: Shell, Koc to Bid Jointly for Turkish Refiner Tupras

“Royal Dutch Shell Plc is teaming up with Koc Holding AS, Turkey’s biggest company, to bid for 51 percent of Tupras Turkiye Petrol Rafinerileri AS, the nation’s state-run oil refiner, to expand output of oil products.”

Monday 29 August 2005

Aug. 29 (Bloomberg) — Royal Dutch Shell Plc is teaming up with Koc Holding AS, Turkey’s biggest company, to bid for 51 percent of Tupras Turkiye Petrol Rafinerileri AS, the nation’s state-run oil refiner, to expand output of oil products.

Shell, Europe’s second-biggest oil company, and Koc Holding will register their alliance with the Privatization Administration today, Koc said in a statement via the Istanbul Stock Exchange. Tupras has a market value of 5.28 billion liras ($3.9 billion), based on the today’s price. Shell and Koc are on a 13-company shortlist of possible bidders approved by the government in June. read more

Sunday Business Post (Ireland): State to pay Shell’s €40k bill

“The state faces a Garda bill of almost €40,000 for round-the-clock surveillance at the Shell Corrib gas terminal sites in Co Mayo over the past seven weeks. Deadlock over the onshore gas pipeline continues this week. Five farmers jailed for obstructing Shell access to their lands are spending their 61st day in Cloverhill prison today.”

Sunday 28 August 2005

By Niamh Connolly

The state faces a Garda bill of almost €40,000 for round-the-clock surveillance at the Shell Corrib gas terminal sites in Co Mayo over the past seven weeks.

Deadlock over the onshore gas pipeline continues this week. Five farmers jailed for obstructing Shell access to their lands are spending their 61st day in Cloverhill prison today.

Eight gardai from the western region have been drafted in to provide 24-hour duty at the four gates into Shell’s gas refinery and pipeline sites at Bellanaboy and Rossport. read more

Irish Times: Pipeline opponents question relevance of review

“Mr Garavan said he was concerned that Advantica had in the past had business dealings with elements of the consortium. The technical advisory group advising Mr Dempsey acknowledged on Thursday that Advantica “has previously worked for Shell”.

Saturday 27 August 2005

Tim O’Brien

Opponents of the Corrib gas pipeline have claimed the latest safety review of the project is flawed because it “is asking the wrong questions”.

The Shell to Sea campaign says the critical question “is not whether the pipe is designed to take the gas” but whether the pipe is correctly situated along its route through Rossport village.

Announcing the appointment of Advantica to conduct the review on Thursday, Minister for Natural Resources Noel Dempsey said the consultants’ remit was to conclude whether the project installations: read more

The Guardian (UK): ‘We are part of the solution’: Kurt Hoffman, director of the Shell Foundation

“From his office 21 floors above central London, the director of the Shell Foundation sets out cogently the argument his organisation is trying to put into practice: that big business can be the solution to global poverty.”

Laura Smith

Saturday August 27, 2005

By his own admission, Kurt Hoffman has undergone something of a conversion. From his office 21 floors above central London, the director of the Shell Foundation sets out cogently the argument his organisation is trying to put into practice: that big business can be the solution to global poverty.

But it was not always this way. Hoffman spent 10 years as a development economist at the University of Sussex, where it is unlikely his present ideas would have received a particularly warm reception. read more

ROYAL DUTCH SHELL CLOSELY LINKED TO “INDEPENDENT” COMPANY REVIEWING CONTROVERSIAL CORRIB PIPELINE PROJECT

SATURDAY 27 August 2005: 05.00am ET

By John Donovan

It has now been acknowledged that the so called “independent” company appointed by the Irish Government to review and report on the Corrib pipeline project has a business relationship with Royal Dutch Shell.

The Irish Government appointed Advantica, a UK company, to conduct a review of Shell’s Corrib onshore gas pipeline. It is no wonder, given Shell’s close connections with Advantica and its associated companies, that Shell Ireland has reportedly welcomed the announcement. Advantica is a wholly owned subsidiary of National Grid Transco Plc. It traded at one time under the name of BG Technology Limited. read more

Royal Dutch Shell CEO Jeroen van der Veer, Master of Double Dutch

“No optionality that behaviours in Upstream are different from Downstream: We Live Apart Together.”

Saturday 27 August 2005: 11.20 ET

Royal Dutch Shell CEO Jeroen van der Veer, Master of Double Dutch

By Alfred Donovan

Have you noticed that Jeroen van der Veer, the new CEO of Royal Dutch Shell Plc has invented a new hybrid form of the English language?

His opening address at the Business Week 2004 meeting of senior Shell managers held in Houston on 26 May 2004, provided an example of the jargon filled language he has developed. This often unintelligible babble could perhaps be the mythical lingo known as double-dutch. Examples were sprinkled throughout his speech, which to be fair, was meant for Shell internal use only. It was leaked almost before he finished speaking. read more

Daily Record (Scotland): FALL SPARKS RIG INQUIRY: The man broke an elbow when he fell 20ft from the helideck of Shell’s Tern Alpha. read more

TEMPO (Philippines): Shell gives P5.4 million for fire victims

“The Pilipinas Shell Petroleum Corp. released yesterday some P5.4 million as part of its compensation package to some 121 victims of a fire caused by the Shell gasoline spillage in Quezon City.”: “Shell will compensate an additional 50 people who were victims of the fire that happened last Sunday.”

Friday 26 August 2005

The Pilipinas Shell Petroleum Corp. released yesterday some P5.4 million as part of its compensation package to some 121 victims of a fire caused by the Shell gasoline spillage in Quezon City.

Chito Valmocina, Barangay Holy Spirit chair, said the highest amount given to a family was P1, 244,000 for incurring heavy damages in the fire, while the lowest compensation was R995.

“This is just an initial fund and we’re glad that Shell immediately responded. This is the result of a series of dialogue with the company since last Sunday,” Valmocina said. read more

Philippine Daily Inquirer: Shell to sell ethanol-blended gas

“Shell chair Edgar Chua said in an interview that the oil firm was now conducting studies on the feasibility of selling ethanol-blended gasoline directly from their pumps.”

Friday August 26, 2005

By Abigail L. Ho

NOT TO be outdone by its smaller counterparts, oil refiner Pilipinas Shell Petroleum Corp. is considering selling ethanol-blended gasoline by next year.

Shell chair Edgar Chua said in an interview that the oil firm was now conducting studies on the feasibility of selling ethanol-blended gasoline directly from their pumps.

Ethanol is a good program. Were already doing our studies, looking at the necessary logistics. If we see that we can do it, we can start selling the product by next year, he told the Inquirer. read more

THE NEW YORK TIMES: Montana’s Governor Eyes Coal to Solve U.S. Fuel Costs

“The Democratic governor of this Republican state said he had met with Shell president John Hofmeister… to discuss his proposals.”

Posted Friday 26 August 2005

By REUTERS

HELENA, Montana (Reuters) – Montana’s governor wants to solve America’s rising energy costs using a technology discovered in Germany 80 years ago that converts coal into gasoline, diesel and aviation fuel.

Skip to next paragraph The Fischer-Tropsch technology, discovered by German researchers in 1923 and later used by the Nazis to convert coal into wartime fuels, was not economical as long as oil cost less than $30 a barrel.

But with U.S. crude oil now hitting more than double that price, Gov. Brian Schweitzer’s plan is getting more attention across the country and some analysts are taking him very seriously. read more

Phnom Penh Post (Cambodia): Former Shell employees asking for interest on retirement pay

Friday 26 August 2005

By Vong Sokheng

Former employees of Shell oil company are demanding $1 million in interest on retirement benefits recently awarded to Cambodia staff members who worked for the company before 1975.

The staff of Societe Shell du Cambodge (SSC) were forced to stop working when the country was overtaken by the Khmer Rouge in 1975.

In November 2001 SSC’s modern-day equivalent, Shell International Limited, paid retirement benefits totaling $250,000 to 38 former employees, said Bun Khem, one of the claimants. read more

Irish Independent: UK safety firm hired to check Corrib pipeline

“Five men from Rossport have now spent seven weeks in jail for contempt of court arising from their opposition to the pipeline. The Labour Party reiterated its call to Shell to lift the injunction against them.”

Friday August 26, 2005

By Brian Dowling

Political Correspondent

A BRITISH based company specialising in technology risk assessment has been appointed to conduct an independent safety review of the controversial Corrib Gas onshore pipeline in Co Mayo.

The latest move came amid renewed calls for the so-called Rossport Five, the men jailed for protesting against the pipeline, to be released from prison.

Marine and Natural Resources Minister Noel Dempsey last night confirmed that the company, Advantica, had been appointed to conduct the study following a tender process. He ordered the review after concerns by local people about the safety of the 9km pipeline. read more

RTE.ie: Govt gas pipeline move is criticised

“The Shell to Sea campaign was reacting to news that a British-based technology risk assessment company has been asked to carry out a new safety review of the pipeline.”

Friday 26 August 2005

Opponents of the plan to build an onshore gas pipeline in North Mayo have described the latest Government move on the issue as fundamentally flawed.

The Shell to Sea campaign was reacting to news that a British-based technology risk assessment company has been asked to carry out a new safety review of the pipeline.

The Government has appointed Advantica to conduct an independent review of Shell’s planned Corrib onshore gas pipeline in Co Mayo.

The campaigners against the planned pipeline say the new experts are being directed to ask the wrong questions. read more

ShellNews.net: Irish Government appoints Advantica for “independent” review of Royal Dutch Shell Corrib pipeline project

‘How “independent” is Advantica? The answer seems to be that it is far removed from being independent.’

Friday 26 August 2005: 12.30 ET

Irish Government appoints Advantica for “independent” review of Royal Dutch Shell Corrib pipeline project: 12.30 ET

By John Donovan

The latest news on the Corrib pipeline debacle is that the Irish Government has appointed Advantica, a UK company, to conduct a so called “independent” review of Shell’s Corrib onshore gas pipeline. It is reported that Shell Ireland has welcomed the announcement.

How “independent” is Advantica? The answer seems to be that it is far removed from being independent. read more

Irish Times: Statoil stations to be picketed

Pickets are to be placed on selected Statoil fuel stations tomorrow as opponents of the proposed Corrib gas pipeline step up their campaign against the project.”

Thursday Aug 25, 2005

Tim O’Brien

Pickets are to be placed on selected Statoil fuel stations tomorrow as opponents of the proposed Corrib gas pipeline step up their campaign against the project.

Speaking at a rally in Dublin’s ATGWU Hall last night Ms BrId NI SeighIn said the plan was to convince Statoil it should withdraw “from the consortium proposing to pump dangerous, untreated gas along an untested pipeline built on unstable bogland”.

Ms NI SeighIn, a daughter of Micheal O SeighIn one of the five men jailed since June 29th last, also said the Shell to Sea campaign was planning a blockade of the Statoil premises in Dublin docks on September 10th. read more

Irish Independent: New Shell move just a stunt, says Rossport daughter

“THE daughter of one of the men jailed for opposing the Shell gas pipeline last night dismissed the company’s latest statement as a PR stunt.”

Thursday Aug 25, 2005

THE daughter of one of the men jailed for opposing the Shell gas pipeline last night dismissed the company’s latest statement as a PR stunt.

The five Mayo men have been in Cloverhill Prison for 50 days after they refused to obey a High Court order to stop obstructing the construction of the pipeline for the Corrib gas field on their lands.

Brid Ni Sheighin said Shell’s announcement that it was considering its legal options would not free her father, Micheal, from jail. read more

The Washington Times: Chavez squeezes oil companies

“More than 20 foreign companies including Chevron Corp., British Petroleum and Royal Dutch Shell are being targeted in an effort to collect more than $3 billion.”

Thursday 25 August 2005

By Jens Erik Gould

Published August 25, 2005

CARACAS, Venezuela — President Hugo Chavez is taking advantage of soaring oil prices and a weak opposition movement to squeeze private oil companies and regain what he calls “petroleum sovereignty.”

More than 20 foreign companies including Chevron Corp., British Petroleum and Royal Dutch Shell are being targeted in an effort to collect more than $3 billion.

“Oil riches have given the Venezuelan government huge negotiating power,” said one lawyer, who is representing the oil companies in talks with the government. “And they are using it.” read more

Ireland On-Line: Labour calls on Shell to free Rossport Five

“So the men are now in prison arising from a court injunction to stop them obstructing or interfering with the construction of a pipeline which was not itself legitimate from the very beginning,”…

Thursday 25 August 2005

Shell must free the Rossport Five by immediately lifting its court injunction against them, it was claimed today.

Labour Party environment spokesman Eamon Gilmore said the Co Mayo men were today spending their 58th day in Dublin’s Cloverhill Prison for simply defending the health and safety of their families and communities.

The Dun Laoghaire TD told the Humbert Summer School in Ballina that these normally law-abiding citizens should not have to sit in jail while real criminals get released early or go free because of lack of evidence. read more

Stuff (New Zealand): Oil edges near $US66 on supply worries

“Protesters in major exporter Nigeria ended a week-long siege of oil facilities on Monday, to pave the way for talks with Royal Dutch Shell over compensation for an oil spill and fire in 2003.”

Wednesday 24 August 2005

LONDON: Oil prices inched towards $66 yesterday as global supply disruptions, both real and anticipated, stoked crude’s rally and signalled increased volatility.

US light crude was 10 cents higher at $65.75 a barrel by 1012 GMT. London Brent crude rose 9 cents to $64.59 a barrel.

A series of supply outages has overshadowed comfortable crude stock levels in the United States, the world’s largest oil consumer, and pushed crude back towards an all-time high of $67.10 hit earlier this month. read more

Irish Times: Independent TDs not to attend debate

“A debate on the Corrib gas pipeline planned for tomorrow had already been cancelled because the Shell to Sea campaign declined to participate if the debate was chaired by Mr Cooney.”

Wednesday August 24, 2005

Carol Coulter in Ballina

Humbert Summer School: The Humbert-Davitt summer school was in crisis last night following the withdrawal of two TDs from a debate on the role of independents in politics.

MEP Marian Harkin TD and Kildare North TD Catherine Murphy decided late last night not to participate in the debate because the school’s director John Cooney had withdrawn his invitation to Dr Jerry Cowley.

Their decision followed talks between Mr Cooney, and Ms Harkin and Ms Murphy, aimed at averting the cancellation of today’s session. read more

Financial Times: ONGC mulls counter-bid for PetroKaz

“In Africa, ONGC has been bruised after being trumped by Chinese bids. ONGC was close to buying out Shell’s half share in an Angolan field jointly owned with BP, but was pipped by a Chinese offer strengthened by a promise of large credit lines.”

Wednesday 24 August 2005

By Khozem Merchantin Mumbai

Published: August 24 2005

Oil and Natural Gas Corporation, the Indian energy company, was yesterday moving towards a decision on a counter-bid for Petro-Kazakhstan, the Canada-listed company acquired by China National Petroleum Corp in a contest that underlined the fierce race for energy security by the two Asian economic giants.

CNPC bid $4.18bn for PetroKaz, edging out a joint offer of $3.8bn from ONGC and the London-based Mittal family headed by billionaire Lakshmi Mittal. The Mittals own 88 per cent of Mittal Steel, the world’s largest manufacturer of the metal. read more

The Guardian: Watchdog says LPG firms overcharge

“Shell downplayed the report, saying that customers were mostly content with their suppliers. It said it was cooperating fully with the commission.”

Wednesday August 24, 2005

Terry Macalister

The competition authorities are looking at ways to crack down on energy companies, including BP and Shell, after mounting evidence that homeowners are paying too much for liquefied gas.

A report by the Competition Commission said there are various aspects of the domestic liquefied petroleum gas (LPG) market that “prevent, restrict or distort competition”. read more

Daily Telegraph: High price of tank gas is due to ‘weak competition’

“Shell is in the process of selling its worldwide LPG arm. Several private equity houses have been lining up a deal for the unit.”

Wednesday 24 August 2005

By Malcolm Moore (Filed: 24/08/2005)

Homes that are not connected to the national gas grid, but choose to buy gas in cylinders or tanks are paying more than twice as much for the privilege, the Competition Commission said yesterday.

The commission said there was “weak competition” in the domestic liquefied petroleum gas (LPG) market, which is dominated by four companies.

Calor, BP, Shell and Flogas supply 90pc of homes. Calor has half the market, which is worth around £120m a year. LPG is used by some 150,000 UK homes, mostly in rural areas. It is also used in patio heaters and barbecues. read more

Anchorage Daily News: Royal Dutch Shell is back in Alaska

“After leaving the state in 1998, the company has returned and hopes to join BP, ConocoPhillips and ExxonMobil as a major player in Alaska.”

Wednesday 24 August 2005

By MARY PEMBERTON, Associated Press Writer

ANCHORAGE, Alaska (AP) – Royal Dutch Shell is back in Alaska.

After leaving the state in 1998, the company has returned and hopes to join BP, ConocoPhillips and ExxonMobil as a major player in Alaska.

Shell this year made its intentions clear by spending more than $44 million for 84 offshore leases in the Beaufort Sea. Company officials say that is just the beginning.

“Alaska is a great and vast land. It is for people who think big … and that’s what we’re doing,” said Chandler Wilhelm, the company’s Alaska Exploration manager, at an open house Tuesday at Shell’s new offices in midtown Anchorage. read more

Ulster TV: Mayo councillors to meet Rossport Five

“The five men are beginning their ninth week in Cloverhill Prison for obstructing the building of the controversial Corrib gas pipeline.”

WEDNESDAY 24/08/2005

Mayo County Councillors are to visit the Rossport Five today to discuss options that might secure the men’s release from jail.

The five men are beginning their ninth week in Cloverhill Prison for obstructing the building of the controversial Corrib gas pipeline.

Earlier this month, Mayo County Council rejected a motion to call on Shell to build the terminal offshore.

But Council Chairman Henry Kenny says today they will take the role of neutral negotiators in a listening capacity. read more

ShellNews.net: ROYAL DUTCH SHELL IRISH PIPELINE DILEMMA

Wednesday 24 August 2005: 10.25 EDT

By John Donovan

Shell management is now firmly hooked on a dilemma of its own making arising from what has become an international PR disaster of significant proportions.

Shell would no doubt dearly love for the Rossport 5, languishing in Cloverhill Prison, Dublin (at Shell management’s behest) for eight weeks to be released so that talks on the delayed Corrib pipeline project could be commenced.

However, Shell executives will be concerned about losing face as a result of being publicly seen to be backing down, even though they probably bitterly regret having the men imprisoned in the first place. Furthermore, while the men remain incarcerated there is always the prospect that one of them could become ill (or worse) thereby vastly adding to the pressure on Shell and generating even more widespread negative publicity. The current publicity firestorm could turn into something even more ugly. read more

online.ie: Rossport Five daughter dismisses Shell ‘PR stunt’

Wednesday 24 August 2005

The daughter of one of the men jailed for opposing the Shell gaspipe line tonight dismissed the company’s latest statement as a PR stunt.

The five Mayo men have been in Cloverhill prison for 50 days after they refused to obey a High Court order to stop obstructing the construction of the pipeline for the Corribgas field on their lands.

Bríd Ní Sheighin said Shell’s announcement that it was considering its legal options would not free her father, Micheál, from jail. read more

Ireland On-Line: Rossport Five standing firm in dispute with Shell

Wednesday 24 August 2005

24/08/2005 – 13:18:20

The Rossport Five are adamant that they will not obey the court order secured against them by Shell, according to Mayo county councillors.

Speaking after a meeting with the men in prison today, the councillors said they had indicated a willingness to compromise on some aspects of the Corrib gas project.

However, they said the men were insisting that they would only enter discussions if Shell lifted the injunction it has taken out against them.

The five Mayo landowners have been in jail for eight weeks for refusing to obey the injunction ordering not to obstruct work on the Corrib gas pipeline. read more

Philippine Daily Inquirer: Oil firm may face raps for gas leak in QC

“The Quezon City fire department said it would file charges of reckless imprudence resulting in damage to property and physical injuries against Shell…”

Tuesday 23 August 2005

First posted 00:07am (Mla time) Aug 23, 2005

By DJ Yap

Inquirer News Service

Editor’s Note: Published on page A19 of the August 23, 2005 issue of the Philippine Daily Inquirer

A MAJOR oil company could still be held liable for the gas leak that caused an explosion in Quezon City on Sunday, although it had agreed to shoulder the medical expenses of victims and the repair of damaged property.

The Quezon City fire department said it would file charges of reckless imprudence resulting in damage to property and physical injuries against Shell and Darnel Imbo, driver of the leaking tanker, when the victims filed their affidavits. read more

Reuters: More big U.S. energy deals? Don’t hold your breath

“The so-called super-majors, such as Exxon Mobil Corp., Chevron, Royal Dutch Shell and BP are already so huge that any attempts to buy smaller integrated companies, such as Marathon Oil Corp , or Amerada Hess Corp , would inevitably run into anti-trust problems…”:

Tuesday 23 August 2005

NEW YORK, (Reuters) – At first glance, the U.S. energy sector seems ripe for consolidation: Record prices have added to cash holdings, production has been slumping, and Asia’s giant economies are hungry for energy assets.

But do not hold your breath for the next blockbuster energy deal on the heels of the $18 billion Unocal Corp. acquisition by Chevron Corp. last week after a bitter takeover battle, say some industry insiders.

With its strategic assets in Southeast Asia and a poor track record of delivering returns to shareholders, Unocal was a unique takeover target and few similar candidates are left. read more

THE NEW YORK TIMES: Shell Reopens Oil Facilities in Nigeria

Posted Tuesday 23 August 2005

By THE ASSOCIATED PRESS

Published: August 22, 2005

Filed at 12:58 p.m. ET

LAGOS, Nigeria (AP) — Royal Dutch Shell PLC has reopened two oil facilities producing nearly 40,000 barrels of crude a day after closing them last week amid a compensation dispute, a company spokeswoman said Monday. A lawyer said talks to resolve the dispute would resume.

Villagers demanding compensation for an oil spill and a fire nearly two years ago launched protests in mid-August that prompted Shell to close the facilities in the oil-rich Niger delta’s Obio-Akpor district. read more