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Posts on ‘March 5th, 2008’

Royal Dutch Shell 2008 Strategy presentation for analysts and shareholders will take place on Monday 17 March at 14.00 GMT

Royal Dutch Shell has announced that the 2008 Strategy presentation for analysts and shareholders will take place on Monday, 17 March, 2008 at 14.00 GMT (15.00 CET and 09.00 EST).

The presentation of the first quarter 2008 results will take place on Tuesday, 29 April 2008 at 14.00 GMT (15.00 CET and 09.00 EST). This event will be webcast only.  

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

UpstreamOnline: Oil races to new record

By Upstream staff

US crude oil futures rocketed past $104 on Wednesday following word that US crude stocks fell unexpectedly last week.

Nymex April crude was up $4.58, or 4.6%, at $104.10 a barrel, having traded from $99.55 to a record $104.56, eclipsing the record $103.95 reached on Monday.

London Brent was $2.77 up at $100.29 a barrel, off highs of $100.59.

Prices increased after the US Energy Information Administration said US crude stockpiles posted a surprise draw last week as refiners boosted output and imports sagged. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

UpstreamOnline: Shell puts Orphan out for bids

By Upstream staff

Royal Dutch Shell is seeking a partner to farm-in to its 20% stake in the Orphan basin exploration play off Newfoundland.

The successful bidder would pay drilling costs in return for an interest in the properties.

“We are simply looking to see if there are parties interested in the cost and risks of our interest in the next Orphan well,” said a Shell spokesman.

Shell Canada owns a 21,250 square kilometer (8205 square mile) block in the basin located off the east coast of the Canadian province. Chevron holds 50%, while ExxonMobil and Imperial Oil each have 15%. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

The Sydney Morning Herald: Premium fuel bowsers closed on cheapest day

Brian Robins
Thursday March 6, 2008

THE State Government has accused petrol stations of refusing to sell premium unleaded fuel on Tuesdays – the cheapest day of the week – after a Government survey found that a quarter of Sydney’s stations shut their premium unleaded bowsers that day.

“I will be contacting the new petrol commissioner with the results of this survey and asking him to investigate this as a matter of priority when he takes up the job,” the Minister for Fair Trading, Linda Burney, said. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Reuters: Shell looks to cut stake in Newfoundland oil play

Wed Mar 5, 2008 10:54am EST

CALGARY, Alberta (Reuters) – Royal Dutch Shell Plc’s (RDSa.L: Quote, Profile, Research) Canadian unit is hunting for a partner willing to take a stake in an expensive exploration play off the coast of Newfoundland.

Shell Canada Energy is looking for a company willing to farm into its 20 percent stake in the Orphan Basin exploration play. Any successful bidder would pay drilling costs in return for an interest in the properties.

“We are simply looking to see if there are parties interested in sharing the cost and risks of our interest in the next Orphan well,” Jeff Mann, a spokesman for Shell, said on Wednesday. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

MarketWatch: Shell agrees to pay hike for Dutch refinery workers

By Reza Amanat
Last update: 9:03 a.m. EST March 5, 2008

LONDON (MarketWatch) — Royal Dutch Shell PLC and Dutch unions representing energy workers, have reached agreement over a 5.5% pay rise in 2008, for workers at Shell’s 420,000 barrel-a-day Pernis oil refinery, a union representative confirmed Wednesday.

The agreement includes an annual pay rise of 3.5% starting from March 1 and lasting until March 1, 2010, with an additional pay rise of 2% in the first year, after union representatives agreed workers would give up four days of annual leave. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Reuters: Shell to shut Pernis cat cracker in mid-March

Wed Mar 5, 2008 7:56am EST 

AMSTERDAM (Reuters) – Royal Dutch Shell (RDSa.L: Quote, Profile, Research) is set to shut a catalytic cracker at its 412,000 barrels a day Dutch Pernis refinery for planned maintenance from mid-March, an industry source said on Wednesday.

The source said the unit, which he described as one of five at Europe’s biggest refinery, would be shut for three to four weeks. He said preparations were already under way at the refinery to gear up for the maintenance.

“They are busy preparing to shut it down at the moment,” the source told Reuters by telephone. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

More machinations in the Shell reserves fraud U.S. class action?: Updated

By John Donovan

On Saturday 26 February we published an article authored by me entitled…

Machinations in New Jersey Court linking Royal Dutch Shell with ambulance chaser lawyers

It announced the surprising news that an Order which allowed Shell to proceed with a Non-U.S. settlement costing Shell shareholders over $400 million in respect of the 2004 reserves fraud had been sought and obtained by Liaison Counsel Keefe Bartels – New Jersey based “Personal Injury Lawyers”. We pointed out that they are “a type of law firm known as “ambulance chasers”; “a derogatory phrase sometimes used to describe a trial lawyer who specializes in representing accident victims” (definition borrowed from Wikipedia).  I made the comment: “Perhaps it was useful to have such a law firm carrying out the liaison function”. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

The Guardian: Iraqi Cabinet OKs Deals With Oil Giants

Wednesday March 5 2008
By SINAN SALAHEDDIN
Associated Press Writer

BAGHDAD (AP) – Iraq’s cabinet has given the green light to the Oil Ministry to sign agreements with international oil companies to help increase the nation’s crude output, a ministry official said Wednesday.

The two-year deals, known as technical support agreements, or TSAs, are designed to develop five producing fields to add 500,000 barrels per day to the country’s 2.4 million barrels per day output.

Last December, Royal Dutch Shell PLC, BP PLC, ExxonMobil Corp. and Chevron Corp. submitted technical and financial proposals for the five fields and received counterproposals from the Iraqi side. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell Energy North America Seeks Expression of Interest for Broadwater Natural Gas Sales

EarthTimes.Org: Posted : Wed, 05 Mar 2008 13:12:02 GMT
Author : Shell Energy North America 
Category : PressRelease 
 
HOUSTON, March 5 — Shell Energy North America (US), L.P., (Shell Energy North America) a leading natural gas and power marketing and trading company, today announced it would discuss potential natural gas supply sales with large natural gas consumers and distribution companies in Long Island, New York City and southern Connecticut in support of the success of the Broadwater project. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Seeking Alpha: Peak Oil is a Cost Issue

March 05, 2008

Jim Kingsdale: Bio & more articles

Underlying nearly all discussions of the oil price is a standard economic concept: supply and demand.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

CBC News: Iraqi cabinet gives green light to oil ministry to sign oil deals

Published: Wednesday, March 5, 2008 | 5:34 AM ET
Canadian Press: Sinan Salaheddin,
THE ASSOCIATED PRESS

BAGHDAD – Iraq’s cabinet has given the green light to the Oil Ministry to sign agreements with international oil companies to help increase the country’s crude output, a ministry official said Wednesday.

The two-year deals, known as technical support agreements, or TSAs, are designed to develop five producing fields to add 500,000 barrels per day to the country’s current 2.4 million barrels per day output. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Reuters: UPDATE 1-Shell reaches wage deal for Pernis refinery

Wed Mar 5, 2008 5:08am EST

AMSTERDAM, March 5 (Reuters) – Anglo-Dutch oil giant Royal Dutch Shell Plc (RDSa.L: Quote, Profile, Research)(RDSb.L: Quote, Profile, Research) said on Wednesday it had reached a wage agreement with unions for its employees at its Dutch Pernis refinery and its Moerdijk plant.

Shell said in a statement salaries will increase by 5.5 percent this year and 3.5 percent in March next year under a deal that affects 2,100 employees at Pernis, Europe’s biggest refinery, and Moerdijk, where Shell processes chemicals. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Oil & Gas Journal: Sakhalin-2 partners seeking swifter financing

Eric Watkins
Senior Correspondent

LOS ANGELES, Mar. 4 — Sakhalin Energy, operator of the Sakhalin-2 gas and oil project, reported it is no longer seeking loans from the US Export-Import Bank or the UK’s Export Credits Guarantee Department due to possible delays on loan decisions.

A Sakhalin Energy spokesman said Ex-Im Bank might require lengthy consultations over the loans, but that the project’s tight start-up and operating schedule dictated the need to seek a swifter financing decision, not environmental or political concerns. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

THE WALL STREET JOURNAL: Crude Oil Falls Below $100

As Stronger Dollar Prompts Retreat
By BRIAN BASKIN
March 5, 2008; Page C5

Crude-oil futures fell sharply yesterday as speculators drawn to the market by the weak dollar bailed at the first sign that the currency was strengthening.

Light, sweet crude for April delivery settled $2.93, or 2.9%, lower at $99.52 a barrel on the New York Mercantile Exchange.

The drop at settlement was the largest percentage decline since Feb. 1, while the intraday low of $98.87 was last matched Feb. 26. Most of the losses came in the morning, when crude shed $4 in two hours, before stabilizing around $100. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Financial Times: BP chiefs miss out on bonuses

By Ed Crooks in London
Published: March 5 2008 02:00 | Last updated: March 5 2008 02:00

BP’s top executives, including Tony Hayward, chief executive, missed out on share bonuses last year after the UK company performed worse than its peers in terms of shareholder returns.

The company’s annual report shows that five directors failed to qualify for awards worth up to £2.7m ($5.3m) available under BP’s long-term incentive plan for 2005-07.

The report also revealed that Mr Hayward’s basic pay was significantly less than that of Lord Browne, whom he replaced last May. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Daily Telegraph: BP bosses miss out on £10.7m bonuses

Last Updated: 1:30am GMT 05/03/2008
By Russell Hotten

BP’s top executives have missed out on share bonuses worth a potential £10.7m after the company’s dreadful performance in 2007.

Chief executive Tony Hayward failed to qualify for up to £2.3m in share options after a troubled year in which his predecessor Lord Browne resigned and BP suffered operational problems.

According to BP’s annual report: “Performance failed to meet satisfactory levels and consequently no shares will vest in the plan for 2005-07.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

The Times Online: BP chiefs share £10m despite profits plunge

March 4, 2008
Dearbail Jordan

BP’s executive directors last year took home nearly £10 million in pay and bonuses after reporting a 22 per cent profit fall despite record oil prices

Lord Browne of Madingley, who resigned as BP’s chief executive at the beginning of May after lying in court, received a total £2.7 million last year. This included a £1.5 million lump sum, equal to one year’s salary, as well as £1.2 million for four months work.

The oil group’s annual report and accounts reveal that Lord Browne was awarded a package that included £531,000 in salary, a £621,000 bonus and £85,000 for a car, a driver and office administration costs. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

The Guardian: Big energy firms play it dirty

Julia Finch
Wednesday March 5 2008

Their audacity knows no bounds. The power companies are threatening to scale down their investments in green power projects if the government introduces a windfall tax on their high earnings. Obviously, they are not putting it that bluntly – choosing instead to demand a “stable, predictable investment climate” to deliver green funding – but the message is clear.

The two companies to fire off these warnings yesterday were British Gas and Drax. At least British Gas has a few wind turbines but Drax’s sole asset – a coal-fired power station – has rewarded its shareholders handsomely while feeding more carbon into the atmosphere than any other single plant in the country. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com