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Posts on ‘August 21st, 2005’

Shell has no case to answer in Nigerian standoff: company spokesman

ChinaView.cn: Shell has no case to answer in Nigerian standoff: company spokesman

Sunday 21 August 2005

www.chinaview.cn

2005-08-21 04:14:32

LAGOS, Aug. 20 (Xinhuanet) — As the standoff between the Shell Petroleum Development Company (SPDC) and local communities in Nigeria’s southern state of Rivers entered the fourth day, a Shell’s spokesman said Saturday the company had no case to answer.

The six communities on Tuesday shut the company’s flow stations in the area because of the unresolved issue of compensation and clean-up of the December 2003 spillage.

Explaining the circumstances that led to the impasse, SPDC’s Corporate External Affairs Manager Donald Boham said the attitude of the communities and weather conditions were responsible for the delay in the resolution of the crisis. 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.

Equity firms head Shell gas race

THE SUNDAY TELEGRAPH: Equity firms head Shell gas race

“The sale is part of Shell’s $15bn divestment programme, launched last year by Jeroen van der Veer, the chief executive, which is designed to help fund the group’s £25bn investment in its oil reserves.”

Sunday 21 August 2005

By Sylvia Pfeifer (Filed: 21/08/2005)

Private equity groups are leading the race to buy the $3bn (£1.6bn) liquified petroleum gas (LPG) business put up for sale by Royal Dutch Shell earlier this year.

First round bids for the business were submitted earlier this month and it is understood that potential buyers were informed late last week whether or not they had made it through to the next round.

Those believed to be on the shortlist include: a consortium made up of Repsol, the Spanish oil and gas giant, and CVC Capital Partners, the private equity group; a joint bidding group made up of Blackstone, the US private equity firm, and its UK counterpart Permira; and a combination of America’s Bain Capital and PAI Capital Partners of France. 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.

Shell boss says history against Rockall oil find

The Sunday Business Post (IRELAND): Shell boss says history against Rockall oil find

“Ten licences have been granted at Rockall, but eight have been returned after no financially viable quantities of oil or gas were found.”

Sunday 21 August 2005

By Laura Noonan

Shell’s latest oil exploration licence has been granted for an area for which 80 per cent of the licences issued have been returned to the state years before they were due to expire.

Ten licences have been granted at Rockall, but eight have been returned after no financially viable quantities of oil or gas were found.

Andy Pyle, chief executive of Shell’s Irish exploration company, said the area’s history of poor returns reduced the likelihood of his company finding oil there. 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.

Shell bosses live high life on oil profits

THE SUNDAY TIMES: Shell bosses live high life on oil profits

“Jeroen van der Veer, the chief executive, and fellow senior executives are understood to have bought three new Falcon aircraft for their boardroom fleet at a cost of nearly £60m.”: “The lavish arrangements for directors are partly a result of the company’s bulging coffers.”: “News of the luxury jets comes as the company begins to rebuild its reputation following a corporate scandal. Last year, it was accused of misleading the stock market by overestimating its oil reserves and had to pay £82m in fines.”

Sunday 21 August 2005

Robert Winnett

THE directors of Shell have cashed in some of the windfall from high oil prices to upgrade their fleet of corporate jets.

Jeroen van der Veer, the chief executive, and fellow senior executives are understood to have bought three new Falcon aircraft for their boardroom fleet at a cost of nearly £60m.

According to aviation experts, Shell replaced older Falcons, while a Gulfstream has been kept on, meaning there are now four jets in the fleet.

At a time when other multinational companies have been getting rid of their executive planes, Shell’s top directors have signed new contracts which spell out their right to use the company planes to fly them around the world. 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.

ROYAL DUTCH SHELL EXECUTIVES JET FUELLED ARROGANCE

ROYAL DUTCH SHELL EXECUTIVES JET FUELLED ARROGANCE

Sunday 21 August 2005: 11.10 ET

By Alfred Donovan

A report published in The Sunday Times today, reveals that Shell senior management has bought three Falcon jet aircraft creating a Royal Dutch Shell plc boardroom fleet of 4 luxury executive jets.

The cash to buy the jets is being generated by the one element over which Shell management has no control – record high oil prices and consequential humungous profits. Shell recently announced profits of £5.6 billion for the first half of 2005. In other words, Shell is currently making almost £1 billion GB pounds per month (nearly $2 billion US dollars per month). 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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