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September 14th, 2005:

Chicago Tribune: Kane settles suit with Shell over tainted soil

Chicago Tribune: Kane settles suit with Shell over tainted soil

“Kane County has agreed to accept $350,000 from Shell Pipeline Co. LP, of Houston, in exchange for dropping the firm from a million-dollar lawsuit filed a year ago by the county in the firm’s disposal of contaminated soil…”

Wednesday 14 Sept 2005

By William Presecky

Tribune staff reporter

Published September 14, 2005

Kane County has agreed to accept $350,000 from Shell Pipeline Co. LP, of Houston, in exchange for dropping the firm from a million-dollar lawsuit filed a year ago by the county in the firm’s disposal of contaminated soil at a county-owned landfill in Geneva.

The settlement was approved Tuesday by the Kane County Board after a closed-door session discussing the litigation.

An environmental engineering firm involved with Shell’s efforts to dispose of some benzene-laced soil from a 1980s spill site in Kankakee County remains the lone defendant in the lawsuit. 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 Newsnight: Oil giants set sights on Sakhalin

BBC Newsnight: Oil giants set sights on Sakhalin

The big oil giants are all hunting for new reserves, but none more so than Shell after it was forced to downgrade its reserves in a financial scandal last year.: “

By Emma Simpson: BBC Newsnight (Broadcast 10.35pm Wednesday 14 Sept 2005

Hurricane Katrina has focused attention on the need to find new supplies of energy.

Shell, the British-Dutch oil company, is building one of the world’s largest oil and gas developments off Sakhalin island, in the Russian far east.

The big oil giants are all hunting for new reserves, but none more so than Shell after it was forced to downgrade its reserves in a financial scandal last year.

They’re now banking on this inhospitable corner of Russia, iced over for much of the year, and prone to earthquakes. 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 buck stops on the boss’s desk

The Guardian (UK): The buck stops on the boss’s desk

“Let us ignore the damage done to his reputation a) by the very fact that Shell had about a quarter less oil in the ground than it had been claiming and b) by that email in which Shell’s exploration chief told Sir Phil he was “sick and tired” of the lying over the reserves.”: “Frankly, the extraordinarily arrogant Sir Phil should consider himself lucky still to have his knighthood.”

Wednesday September 14, 2005

Sir Phil was to blame for scandal

Sir Phil Watts, the former chairman of Shell, will probably go to his grave mumbling that the reserves scandal of 2004 which wiped billions off the value of the company had absolutely nothing to do with him.

Yesterday he lost an FSA tribunal case where he argued that he had been denied his right to reply when the financial regulator censured Shell for engaging in “unprecedented misconduct” and fined it a record £17m.

The censure did not name Watts, but the former Shell boss, who was forced to resign after the scandal, argued that it was an attack on his leadership, that the FSA allowed him to be identified in the media and damaged his reputation. 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 NEWS: Tribunal upholds Shell criticism

BBC NEWS: Tribunal upholds Shell criticism

Wednesday 14 September 2005

Former Shell chairman Sir Philip Watts has lost an appeal against the UK’s city watchdog over how it handled the probe into Shell’s oil reserves crisis.

Sir Philip was forced to step down in January 2004 after the oil giant cut its reserves estimates by 20%.

Sir Philip accused the Financial Services Authority (FSA) of violating his rights by fining Shell £17m without giving him the opportunity to respond.

However, a tribunal has concluded that the FSA acted properly. 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.

Former Shell chief loses appeal over reserves

Daily Telegraph: Former Shell chief loses appeal over reserves

“We have further inquiries which we are pursuing in relation to Sir Philip. These have not yet been concluded.”

Wednesday 14 Sept 2005

By James Moore, Financial Correspondent (Filed: 14/09/2005)

Former Shell chairman Sir Philip Watts yesterday lost his appeal against the chief financial regulator’s handling of an investigation into the oil giant’s reserves scandal.

Sir Philip had accused the Financial Services Authority of “violating” his rights and running a “flawed investigation” into Shell, which admitted it had overstated its proven oil reserves by more than 4billion barrels. 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.

Verdict in Shell case has wider ramifications

Financial Times: FSA’s legal victory leaves questions unanswered

Verdict in Shell case has wider ramifications.: “In avoiding being derailed by a legal challenge from Sir Philip Watts, former chairman of Royal Dutch Shell, the Financial Services Authority yesterday scored a notable victory.”: “The FSA said it was still pursuing further enquiries relating to him.

Wednesday 14 Sept 2005

By Alison Smith

Published: September 14 2005

In avoiding being derailed by a legal challenge from Sir Philip Watts, former chairman of Royal Dutch Shell, the Financial Services Authority yesterday scored a notable victory.

Yet because his application fell at the first hurdle, more significant obstacles may still trip up the regulator in its efforts to combine fast action against companies with pursuit of individuals.

Sir Philip had argued that the FSA treated him prejudicially by failing to involve him in the procedures behind its decision to fine the Anglo-Dutch oil group £17m for mis-stating its oil and gas reserves. Even though the notices issued by the FSA did not single him out, he argued that anyone reading them would understand they were criticising individuals seen as responsible for the conduct at the heart of the watchdog’s complaint. 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 Evaluating Brazil Block

Oil & Gas Journal (Houston): Shell Evaluating Brazil Block

“Shell is investing $200 million in Brazil this year.”

Wednesday 14 Sept 2005

Offshore staff

(Brazil)-Royal Dutch Shell has begun drilling a new evaluation well at its Brazilian BC-10 block and hopes to declare it commercially viable by the end of 2005. In an interview with Reuters, Shell Brazil Vice-President John Haney said that two wells will be drilled by November at a cost of $15 million per well. The BC-10 block has recoverable reserves of some 400 mmbbl of heavy oil.

Haney went on to say that the general concept of the project will likely include a floating production, storage and offloading unit (FPSO) with an artificial lifting system, risers for ultra-deep recovery and an onboard heavy oil processing system. The capacity of the FPSO is still under discussion, although the field is expected to produce between 60,000 and 100,000 b/d beginning in 2009. 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.

Former chairman of Shell loses appeal against regulator over reserves debacle

The Guardian (UK): Former chairman of Shell loses appeal against regulator over reserves debacle

Wednesday September 14, 2005

Terry Macalister

The former Shell chairman Sir Philip Watts vowed last night to keep fighting to clear his name, despite losing a tribunal case against the Financial Services Authority.

The oil executive, who lost his job last year after Shell admitted it had overstated oil reserves by 25%, in effect dismissed the tribunal’s findings and repeated his view that the regulator’s report was “flawed”.

Sir Philip took the FSA to the Financial Services and Markets Tribunal, claiming the regulator had damaged his reputation by allowing him to be identified in the censure of the firm, which arose out of the reserves issue. The FSA fined Shell £17m and ruled that Shell had engaged in “unprecedented misconduct”. 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.

Ex-Shell chairman loses case against watchdog

The Independent: Ex-Shell chairman loses case against watchdog

“Sir Philip, who was sacked in disgrace last year after the scandal broke…”: “Shell has agreed to foot the legal costs of former directors dismissed over the scandal and last year provided $12m in expenses.”

Wednesday 14 Sept 2005

By Michael Harrison, Business Editor

Published: 14 September 2005

The former Shell chairman Sir Philip Watts suffered a blow to his attempts to clear his name yesterday after a tribunal ruled that the Financial Services Authority had not prejudiced him in a damning report into the oil giant’s misreporting of reserves.

Sir Philip, who was sacked in disgrace last year after the scandal broke, had argued that the FSA was under a duty to show him a copy of its report in advance and give him a chance to respond before publication. 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.

Former Shell boss loses case against FSA

The Times (UK): Former Shell boss loses case against FSA

The FSA, which is continuing to investigate Sir Philip’s personal conduct during the affair, welcomed the ruling… In August last year the FSA found Shell guilty of “unprecedented misconduct” in repeatedly mis-stating its oil and gas reserves levels from 1998 to 2003.

Wednesday September 14, 2005

By Patrick Hosking, Investment Editor

SIR PHILIP WATTS, who was ousted as Shell’s chairman after the company’s oil reserves scandal, suffered a setback yesterday in efforts to clear his name.

The Financial Services and Markets Tribunal found against Sir Philip and ruled that he had not been unfairly treated by the Financial Services Authority (FSA). The former oilman had complained that he had not been given the chance to challenge the FSA’s market abuse ruling and £17 million fine against Shell 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 wins auction of Turkish refinery

Energy Business Review: Shell wins auction of Turkish refinery

A consortium including Anglo/Dutch oil company Shell has won a hotly contested privatization auction of Turkish refiner Tupras with a bid reported to be just over $4 billion.

Wednesday 14 Sept 2005

13 Sep 2005, 17:41 GMT – According to reports Shell and its consortium of local allies led by Koc Holdings beat eight other suitors with their offer of $4.14 billion to secure a 51% ownership of state-owned Turkish Petroleum Corp. (Tupras). The major asset of the acquisition is a 500,000 barrels-a-day refinery in the eastern European state.

However, the competition was fierce as pre-auction predictions valued Tupras at over a billion dollars less than Shell’s winning bid. Shell faced its sternest competition from a joint venture comprising state-owned Indian Oil and Turkey’s Calik Enerji Sanayii, as well as OYAK, a Turkish industrial conglomerate. 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 Police ‘rescue’ four Shell terminal staff

Irish Times: GardaI ‘rescue’ four Shell terminal staff

“Extra gardaI were called to the Shell/Corrib Bellanaboy terminal site in Co Mayo yesterday when protesters refused to allow Shell company representatives to leave the compound.”: “The Norwegian Labour Party has made it clear that it wants no involvement by a Norwegian state company in such a scandal.”

Wednesday 14 Sept 2005

Lorna Siggins, Marine Correspondent

Sep 14, 2005

Extra gardaI were called to the Shell/Corrib Bellanaboy terminal site in Co Mayo yesterday when protesters refused to allow Shell company representatives to leave the compound.

Four company representatives had entered the site at about 5am yesterday before the Shell to Sea picket began at 6am.

The company confirmed that the representatives entered “early yesterday” to carry out essential environmental works which had been requested by Mayo County Council. The four had left the site by yesterday evening, the spokesman said. The jeep used by the four was still parked outside the terminal as pickets continued last night. 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 plans major LNG investment in Libya

Lloyds List: Shell plans major LNG investment

“IT’S good to be back in Libya, says Malcolm Brinded, executive director for exploration and production at oil major Shell, as he announces the start of a huge new liquefied natural gas project centred at Marsa Al-Brega.”

Wednesday Sept 14, 2005

IT’S good to be back in Libya, says Malcolm Brinded, executive director for exploration and production at oil major Shell, as he announces the start of a huge new liquefied natural gas project centred at Marsa Al-Brega.

Shell and Libya’s National Oil Company are refurbishing and upgrading the existing LNG plant at Marsa Al-Brega on the Libyan coast, and exploring for hydrocarbons in the prolific onshore Sirte Basin.

US independent Marathon is looking at developing LNG facilities in Libya in the longer term, perhaps after 2009, says chief executive Clarence Cazelot. 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.

Station owner gives ’em Shell

Boston Herald: Station owner gives ’em Shell

“Independent lease operators have battled Shell for years, arguing the company is trying to take over their franchises. Last year, a federal jury in Boston ruled in favor of eight independent dealers who claimed Shell was trying to put small-time operators out of business.”

Wednesday, September 14, 2005

By Jay Fitzgerald

Paul Micalizzi says Shell Oil tried to put the squeeze on its independent station owners again.

Micalizzi, owner of Battle Green Shell in Lexington, said yesterday that Shell charged so-called “lease operators” of Shell stations higher wholesale gas prices than “directly controlled” stations paid during the recent gas-price run-up.

“Shell has been screwing us for years,” said Micalizzi, who has battled the oil giant over wholesale prices in the past. 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 believes current high oil prices unsustainable in long run

Channel News Asia: Shell believes current high oil prices unsustainable in long run

“Mr van der Veer says Shell is also on track to build a new multi-billion dollar chemical cracker in Singapore. Shell has over US$6 billion worth of oil refining and petrochemical plants in Singapore. Its first oil refinery here is also the group’s largest in the world.”

Wednesday 14 September 2005

By Derek Cher

Oil giant Royal Dutch Shell says the current high oil prices will not be sustainable in the long run.

Its chief executive Jeroen van der Veer says the oil industry is already assessing future projects at lower oil prices.

He is in Singapore to attend Shell’s board meeting, the first time such a meeting is held outside of Europe.

Mr van der Veer says Shell is also on track to build a new multi-billion dollar chemical cracker in Singapore.

Shell has over US$6 billion worth of oil refining and petrochemical plants in Singapore. 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.

CENSORSHIP OF DR JOHN HUONG BY ROYAL DUTCH SHELL

CENSORSHIP OF DR JOHN HUONG BY ROYAL DUTCH SHELL

Wednesday 14 September 2005 10:30 AM EDT

I would like to inform readers of the article posted by the Malaysian humanitarian, Dr John Huong, on Tell Shell yesterday, 13 September 2005, that he is unable to exercise his fundamental right to freedom of speech.

This is because EIGHT companies within the Royal Dutch Shell Group (listed below) collectively obtained a High Court Restraining Order and Injunction against him which is in force, and will remain so for several years pending an appeal, unless withdrawn by Shell. He has been threatened with imprisonment by Shell in the event of any breach by him of the High Court Orders. 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 pension chief sees three sources of return

IPE.com: Shell pension chief sees three sources of return

“Shell made headlines last week with news it plans to consolidate €50bn of worldwide pension assets in Holland.”

Wednesday 14 Sept 2005

NETHERLANDS – Sijb Bartelma, chief investment officer of Shell Pensioenfonds, has explained why he thinks there are three sources of investment return.

The first is “strategic beta”, derived from exposure to market risk. The second is “strategic alpha” from the deviation from ‘plain vanilla’ asset mixes.

And the third he termed “operational alpha” – from what might be regarded as ‘stock picking’.

There was an unlimited supply of the first, while the third is “scarce” and a “kind of game” he told a meeting organised by the catering scheme Horeca at its new offices near The Hague yesterday. 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 prepared to spend billions on oil sands in Peace River

Globe & Mail (Canada): Shell prepared to spend billions on oil sands in Peace River

“Shell Canada Ltd. is looking at a “multibillion” dollar project to develop a comparatively obscure deposit of oil sands in the Peace River area of northwestern Alberta that could produce 100,000 barrels of bitumen a day for 30 years.”

Wednesday, September 14, 2005

Lesser-known deposits slated for growth

By DAVE EBNER

Page B3

TORONTO — Shell Canada Ltd. is looking at a “multibillion” dollar project to develop a comparatively obscure deposit of oil sands in the Peace River area of northwestern Alberta that could produce 100,000 barrels of bitumen a day for 30 years.

“We could spend a significant amount,” Ian Kilgour, senior vice-president of exploration and production, told reporters after speaking at the Peters & Co. Ltd. oil and gas conference in Toronto yesterday. 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.