Royal Dutch Shell Group .com Rotating Header Image

Posts on ‘April 16th, 2007’

Shell Sakhalin II losses: 2007 Annual Report and Form 20-F

CLICK ON ABOVE IMAGE TO ENLARGE INTO READABLE PRINT

SakhalinLoss1-2

SakhalinLosses2

Royal Dutch Shell 2007 Annuals Accounts and Form 20-F (INCLUDES SAKHALIN II Losses)
(224 pages so takes some time to load – Page 18 of particular interest)

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 Moscow Times: PwC Says It Remains Sakhalin-2 Auditor

Tuesday, April 17, 2007. Issue 3638. Page 5.
Bloomberg

PricewaterhouseCoopers remains an auditor of Sakhalin Energy Investment Company, the operator of Gazprom’s Sakhalin-2 liquefied natural gas project in Russia, PwC said Monday.

Interfax reported Thursday that Russia plans to dismiss PwC as an auditor, citing Industry and Energy Minister Viktor Khristenko in a report to the government.

The Russian arm of PricewaterhouseCoopers, the world’s largest accounting firm, has been Sakhalin Energy’s external auditor for over 10 years “and continues to enjoy a professional relationship” with the company, PwC said in a statement. 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.

Reuters: UPDATE 1-Gazprom to close Sakhalin-2 deal with Shell

Mon Apr 16, 2007 7:56 PM BST
(Adds talks broken off, agreement expected on Tuesday)

MOSCOW, April 16 (Reuters) – Russia’s gas monopoly Gazprom is expected to agree on Tuesday a $7.45 billion deal to buy half of the Sakhalin-2 project from Shell and its partners, industry sources said on Monday.

The sources had earlier said a deal was likely on Monday but talks broke off late in the evening without it being finalised.

A preliminary deal was agreed in December after months of pressure on the project by Russian environmental authorities and was interpreted by analysts as yet another step in the Kremlin’s drive to win more control over Russia’s huge energy sector. 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.

AFX News Limited: Royal Dutch Shell acquires Malaysian ConocoPhillips subsidiary Conoco Jet

04.16.07, 12:41 PM ET

AMSTERDAM (Thomson Financial) – Royal Dutch Shell PLC has reached an agreement with Conoco for the acquisition of 100 pct of Conoco Jet (Malaysia) Sdn Bhd, the company announced.

The wholly-owned ConocoPhillips (nyse: COP – news – people ) subsidiary operates the ProJet retail marketing assets in Malaysia and the deal comprises 44 ProJet branded retail service stations and 14 vacant land sites, primarily in Kuala Lumpur, Selangor and the State of Jorhor in the southern part of the country. 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.

Reuters: Gazprom to close Sakhalin-2 deal with Shell

Mon Apr 16, 2007 4:19 PM BST

MOSCOW, April 16 (Reuters) – Russia’s gas monopoly Gazprom will on Monday close a $7.45 billion deal to buy half of the Sakhalin-2 project from Shell and its partners, industry sources said on Monday.

A preliminary deal was agreed in December after months of pressure on the project by Russian ecological authorities and was interpreted by analysts as yet another step in the Kremlin’s drive to win more control over Russia’s huge energy sector.

Gazprom will pay cash to Royal Dutch Shell and its Japanese partners Mitsui and Mitsubishi, becoming the leader of the project. 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.

myway: Gunman Kills 21 at Virginia Tech

Gunman Kills...

Apr 16, 12:31 PM (ET)
By SUE LINDSEY

BLACKSBURG, Va. (AP) – A gunman opened fire in a dorm and classroom at Virginia Tech on Monday, killing 21 people and wounding another 21 before he was killed, police said.

On the Web site, Tech reported the shootings at opposite sides of the 2,600-acre campus at West Ambler Johnston, a co-ed residence hall that houses 895 people, and said there were “multiple victims” at Norris Hall, an engineering building.

All entrances to the campus were closed and classes canceled through Tuesday. 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.

AP REPORTS 22 DEAD, 21 WOUNDED

AP REPORTS 22 DEAD, 21 WOUNDED BY HEAVILIY ARMED GUNMAN (who is also dead).

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.

Chicago Tribune Breaking News: Gunfire erupted at Virginia Tech, leaving at least 20 dead.

Latest details on the Chicago Tribune front page:

http://email.chicagotribune.com/cgi-bin1/DM/y/eBNJR0Ss3bN0G2E0FtVa0Ap

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.

monstersandcritics.com: Iran liquid natural gas projects “expected to delay further”

Apr 16, 2007, 13:11 GMT

Nicosia – The schedules for Irans two most advanced liquid natural gas projects – Pars LNG in partnership with Total and Petronas, and Persian LNG in partnership with Shell and Repsol – are expected to slip further, the Middle East Economic Survey reported Monday.

The Cyprus-based weekly publication said that Total had announced that sharply rising cost estimates and geopolitical concerns could delay Pars LNG, while Shell and Repsol remain at least 12 months away from a final investment decision. 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 Plc: Shell grows retail business in Malaysia through ProJet acquisition

Monday, April 16, 2007
VOLUME 1 ISSUE 292

Royal Dutch Shell (Shell) today announced the signing of an agreement with ConocoPhillips for the acquisition of 100% of shares in its wholly owned subsidiary, Conoco Jet (Malaysia) Sdn Bhd, which operates the ProJet retail marketing assets in Malaysia.
 
Royal Dutch Shell (Shell) today announced the signing of an agreement with ConocoPhillips for the acquisition of 100% of shares in its wholly owned subsidiary, Conoco Jet (Malaysia) Sdn Bhd, which operates the ProJet retail marketing assets in Malaysia. 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.

Edwards Energy Consultants (Texas): Cut off ALL of Iran’s oil income

Something makes more sense than the Dodd/Lantos bill. Cut off ALL of Iran’s oil income.

The consuming world can deal with replacement of Iran’s 2-3 million barrels per day in a number of ways. The most effective, but not the only way, is mandatory reduction of demand in the US (rationing) and price action that prevents a crude price run-up. (One has to understand the mechanism of oil pricing to do this. It’s time someone in government developed this knowledge.)

If you wish to learn the mechanics of how to use the “Oil Money Weapon” against Iran, then you should give me a call. 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 Examiner: Public hearing into Shell gas refinery to open: latest

16/04/2007 – 7:43:31 AM

The state body charged with protecting the environment will today open a public hearing into objections to the contentious Shell gas refinery in Co Mayo.

The Environmental Protection Agency (EPA) has already given the oil giant its seal of approval by proposing to issue a pollution control licence for the operation, but strong opposition to the decision means it must hold an oral hearing into the objections.

Among those who will outline their concerns are parish priest Fr Michael Allen, An Taisce, Erris Inshore Fisherman’s Association and local residents. 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.

Business Times (Malaysia): Shell to buy 44 ProJet stations

April 16 2007

ROYAL Dutch Shell Plc has agreed to buy the 44 gasoline stations in Malaysia operated by ConocoPhillips, expanding its retail network in the country.

Shell will buy the 44 ProJet stations and 14 vacant land sites in Kuala Lumpur, Selangor and Johor states, the company said in an e-mailed statement today.

“Investing in fast growing eastern markets is crucial to business success,” said managing director of Shell Malaysia Trading Mohzani Wahab.

The acquisition will add to Shell’s 830 retail stations in Malaysia. 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.

RIA Novosti: Project operator, watchdog agree timeframe to fix Sakhalin II-1

MOSCOW, April 16 (RIA Novosti) – Russia’s environmental watchdog has coordinated with Sakhalin Energy that operates the Sakhalin II oil and gas project off Russia’s Pacific Coast a schedule for fixing damage caused by the project, the natural resources ministry said Monday.

Sakhalin Energy submitted a plan of measures to remedy environmental damage March 20.

The ambitious project, formerly led by Anglo-Dutch oil major Shell, was subjected to months of intense pressure last year from Russian authorities, who accused it of causing serious environmental damage to Sakhalin Island, including deforestation, toxic waste dumping and soil erosion. 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: Law Blog: Are Lower SEC Penalites On the Way?

Posted by Ashby Jones

Here in Gotham, the news today is Imus, Imus, and more Imus. Good stuff, but at the Law Blog, news of a shift in procedure at the SEC does just as much to make our hearts beat faster.

According to a WaPo story today, the commission is changing how it negotiates settlements with companies. The shift could reportedly reduce the number and size of financial penalties that businesses pay.

Under the change, which has not been made public, SEC enforcement lawyers will have to seek approval from all five commissioners before they begin settlement talks that involve fining corporations. Currently, staff members have the authority to negotiate with businesses before they take the deals to the agency leaders for final approval. 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: Russia Approves Sakhalin Environmental Plan From Shell, Gazprom

By Lucian Kim

April 16 (Bloomberg) — Russia’s Natural Resources Ministry approved a plan from Royal Dutch Shell Plc and OAO Gazprom to remedy environmental violations at their Sakhalin-2 venture.

“Work to remedy the majority of violations must be undertaken now, since we signed off on this document in a short period of time,” Natural Resources Minister Yuriy Trutnev said in an e-mailed statement today.

Project operator Sakhalin Energy presented the ministry with a plan on March 20. Trutnev said it was “satisfactory” and in compliance with Russian law. 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 to Sea Campaign: Protests against government-backed scheme in Mayo, 7 Arrests so far at Bellanaboy

There have been a number of arrests at the protests at the site of the government-backed Shell refinery site at Ballinaboy, County Mayo.

Six protesters who entered the site on Saturday to inspect the water treatment works were arrested and detained at Belmullet garda Station for a number of hours, where they were photographed by the Gardaí, in contravention of their rights.

This morning< Monday 16 April, another campaigner was arrested when he protested at the Gardaí continually filming him with a video camera. His statement is below. All those detained have since been released. A number of protesters were assaulted by the Gardaí on Friday morning during attempts to stop the removal of surface peat from the site by lorry. Thousands of tons of peat are being transferred to a site 11KM away from the proposed refinery site and dumped in a process which has never been tried anywhere before. Protesters against this complained of being kicked, punched and thrown down the roadside ditches. Many of those assembled against the peat removal operation suffered bruising and cuts. One female protester suffered a sprained wrist. The Gardaí also carried out illegal searches and took a wrist watch from another protester. Protests against the government-backed installation of the huge refinery and pipeline scheme are expected to increase in intensity in the run up to the general election. Editors' note: 1. The EPA Oral hearings on the operating license for the refinery start today at the Broadhaven Bay Hotel. 2. Statement from Niall Harnett, arrested this morning at Bellanaboy Refinery site:

Mon 16th April 2007.
Since October 3rd 2007 until now, over a period of over six months, I have been viciously assaulted, like many others, on numerous occasions, by members of An Garda Siochana. 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.

Oil and Gas Online: *Details of Royal Dutch Shell Plc $450 million securities fraud settlement arising from reserves scandal

Oil & Gas Online Headline: European Investor Group And Royal Dutch Shell Agree To $450M Settlement Over Shell’s Misstatements Of Proven Oil & Gas Reserves

4/16/2007 

The Hague, Netherlands – In the first-ever European class settlement of securities fraud claims, a group of more than four dozen European institutional investors has agreed to resolve all claims against Royal Dutch Shell plc. over the company’s allegedly improper reporting of its proven oil and gas reserves. The group will present a class-wide settlement directly to a Dutch court. 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.

Electric New Paper – Singapore: FUELLING FERRARI FOR THE FUTURE

By Ernest Luis 
April 16, 2007      
 
YOU could say that Lisa Lilley is the woman responsible for keeping Ferrari’s Formula One team a well-oiled machine.

She is the technical manager for the Shell Global Solutions Team and one of only three women working on a technical basis in the Formula One paddock.

Lilley oversees all aspects of the technical partnership between Shell and Ferrari, with Formula One her main brief as she travels with the team to every race.

Her job involves the planning, monitoring and delivery of fuel and lubricants for the Ferrari team. 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.

Asia Pulse: SAKHALIN ENERGY STAKEHOLDERS TO INK SHARE SALE TO GAZPROM

Published: Apr 16, 2007

TOKYO, April 16 Asia Pulse – Royal Dutch Shell Plc, Mitsui & Co. (TSE:8031) and Mitsubishi Corp. (TSE:8058) have officially agreed to sell a majority stake in the Sakhalin 2 natural gas oil development project to Russia’s Gazprom.

The deal is to be sealed with a formal signing on Monday.

The parties had struck a basic agreement on the sale of a 50 per cent-plus stake in December, but could not hammer out the details by the initial March-end deadline.

Under the final agreement, Shell, Mitsui and Mitsubishi will sell a 50 per cent stake plus one share to the Russian state-owned natural gas monopoly for US$7.45 billion, or about 880 billion yen. Mitsui is expected to receive slightly more than 200 billion yen (US$1.7 billion) and Mitsubishi a little more than 150 billion yen. Mitsui stands to make a pretax profit of 10-20 billion yen from the sale. 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: EPA holds hearing on licence for Corrib gas refinery

Lorna Siggins, Marine Correspondent,
Published: Apr 16, 2007

The Environmental Protection Agency (EPA) is due to open its oral hearing in north Mayo today into awarding a pollution control licence for the Corrib gas refinery.

The integrated pollution prevention control licence (IPCC) is one of the last in a disparate number of State consents required for the controversial 900 million project.

The EPA has already given the application by the Corrib gas partners provisional approval.

Shell E&P Ireland, the company behind the refinery, An Taisce, the Erris Inshore Fishermen’s Association, local priest Fr Michael Nallen and individual members of the Shell to Sea campaign are among 12 appellants to the preliminary ruling, published in January. 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.

Financial Times: Minority report

Published: April 16 2007 03:00 | Last updated: April 16 2007 03:00

When pension funds are stalking Canada’s telephone incumbent and Spain’s builders are playing God with its utilities, the idea that mergers and acquisitions destroy value seems heretic. Yet even sceptics generally like one type of activity: buying out minority interests. Such transactions represented only 3 per cent of deal volume last year, according to Dealogic, but have had a notably consistent presence, even during M&A’s nuclear winter of 2001-02. 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.

New York Times: Firms Compete for $10 Billion Gas Project

By REUTERS
Published: April 16, 2007

DUBAI, United Arab Emirates, April 15 (Reuters) — At least five international energy companies submitted bids on Sunday for a giant sour gas project in the United Arab Emirates that could have a price tag as high as $10 billion.

The project is one of the largest open to oil and gas companies competing for limited access to the Middle East’s energy reserves. Saudi Arabia, which has the world’s biggest oil reserves, is closed to international companies, while the gas exporter Qatar has a moratorium on new projects. 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.

AFX News Limited: BP and Royal Dutch Shell battle to win UAE deal – report

04.16.07, 3:02 AM ET

LONDON (Thomson Financial) – BP and Royal Dutch Shell have each submitted bids for a sour gas project in the United Arab Emirates that could be worth as much as 5.05 bln stg, according to a report in the Daily Telegraph.

The report said the French oil group Total and Occidental Petroleum (nyse: OXY – news – people ) of the US are also believed to have submitted bids. The contract is expected in the final quarter of the year.

The UAE holds the world’s fifth largest gas reserves and wants to develop them to meet the soaring domestic demand. 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: