Royal Dutch Shell Group .com Rotating Header Image

Royal Dutch Shell Unification

Shell loses claim for royaldutchshellplc.com versus 88-year old war veteran

halvorsen.org (Norway): Shell loses claim for royaldutchshellplc.com versus 88-year old war veteran

Read more at Alfred’s spicy RoyalDutchShellPlc.com. Alfred is a hard nut to crack…”

Thursday 18 August 2005

Shell loses claim for royaldutchshellplc.com versus 88-year old war veteran (The Times, possible regreq). The Geneva-based WIPO Arbitration and Mediation Centre has ruled in favour of Alfred Donovan, who has said that he will not relinquish the site until the company gets rid of all the management he deems responsible for its various recent woes, notably the reserves scandal.

Read more at Alfred’s spicy RoyalDutchShellPlc.com. Alfred is a hard nut to crack, Alfred Donovan had NO legal representation in the SMART trial (nor in the WIPO proceedings). Shell had an army of in-house lawyers and sleazy external lawyers (Kendall Freeman) for the SMART trial, plus undercover agents and unlimited financial resources. The compromise settlement covered up a conspiracy of deliberate deception practised by Shell managers in a tender process for a major contract… SCORE TO DATE: SHELL HAS NOT WON A SINGLE CASE. 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 tries ‘getting to know you’ ploy to woo rebels

Daily Telegraph: Shell tries ‘getting to know you’ ploy to woo rebels

“The news comes after a number of high-profile City names emerged last week to vent their anger about the shake-up, which will leave them with a multi-million pound tax bill.”

Wednesday 17 August 2005

By Christopher Hope (Filed: 17/08/2005)

Shell has asked for rebel investors in Royal Dutch Petroleum to provide details of their “characteristics” as the oil and gas giant seeks to tidy up its multi-billion pound restructuring.

The news comes after a number of high-profile City names emerged last week to vent their anger about the shake-up, which will leave them with a multi-million pound tax bill.

The Anglo-Dutch company is seeking ways to persuade a stubborn rump controlling 1.3pc of the shares to accept the terms of the merger with Shell Transport and Trading to create Royal Dutch Shell. 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.

TAXING QUESTIONS ARISING FROM ROYAL DUTCH SHELL MERGER

TAXING QUESTIONS ARISING FROM ROYAL DUTCH SHELL MERGER

POSTED 17 AUGUST 2005: 11.45 ET

TAXING QUESTIONS ARISING FROM ROYAL DUTCH SHELL MERGER: Open Letter to Royal Dutch Shell shareholders from Association of Private Client Investment Managers and Stockbrokers

Association of Private Client

Investment Managers and Stockbrokers

London Office

114 Middlesex Street

London El 7JH

Tel. +44 (0) 20 7247 7080

Fax: +44 (0) 20 7377 0939

Email: [email protected]

5th July 2005

Letter to Royal Dutch Shell Shareholders

Dear Shareholder

Shell Reconstruction and Royal Dutch Shell Shareholders 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.

Daily Telegraph: Shell shows some sense

Daily Telegraph: Shell shows some sense

“At last, faint signs of common sense emerging from the Shell Lubyanka over the fate of the British shareholders in Royal Dutch.”

Saturday 13 August 2005

Shell may offer tax-efficient option to its rebel investors

At last, faint signs of common sense emerging from the Shell Lubyanka over the fate of the British shareholders in Royal Dutch.

Despite spending $115m in fees, Shell had resolutely ignored their plight.

The scheme to create Royal Dutch Shell has presented them with a taxable capital gain, even though they have not sold their shares.

The otherwise admirable Jeroen van der Veer, Shell’s new chief executive, had claimed that there was nothing in the toolbox which could help them. 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 may offer tax-efficient option to its rebel investors

Daily Telegraph: Shell may offer tax-efficient option to its rebel investors

“Shell admitted yesterday that it was considering a new tax-efficient offer for British shareholders in Royal Dutch Petroleum who are refusing to accept the terms of the merger with Shell Transport and Trading.”

Saturday 13 August 2005

By Christopher Hope (Filed: 13/08/2005)

Shell admitted yesterday that it was considering a new tax-efficient offer for British shareholders in Royal Dutch Petroleum who are refusing to accept the terms of the merger with Shell Transport and Trading.

In a meeting with the Association of Private Client Investment Managers and Stockbrokers, Patrick Ellingsworth, Shell’s executive vice president in charge of tax and corporate structure, conceded that a tax efficient solution for the British holders was one of five to six options being considered. 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 loses Royal Dutch Shell PLC Domain Name Battle

FROM OUR AUGUST 2005 SHELL NEWS ARCHIVE…

ShellNews.net: Shell loses Royal Dutch Shell PLC Domain Name Battle

As a result of their gross incompetence this *scandal ridden multinational finds itself in a highly embarrassing position. It has publicly laid claim to the domain name and will consequently suffer a considerable loss of face with its shareholders, the public and its competitors, as a result of the unanimous verdict.

Friday 12 August 2005: 01.35am ET

Unanimous verdict against Shell in Royal Dutch Shell PLC Domain Name proceedings

By John Donovan

A three person administrative panel appointed under the auspices of the World Intellectual Property Organisation has given a unanimous decision in favour of ShellNews.net website owner, Alfred Donovan, in respect of three Shell related domain names, including www.royaldutchshellplc.com

The WIPO decision document: http://arbiter.wipo.int/domains/decisions/html/2005/d2005-0538.html 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.

Financial Times: Shell to meet worried investors

Financial Times: Shell to meet worried investors

“Royal Dutch Shell will today meet representatives of a small number of shareholders who say they have been adversely affected by the recent unification of its British and Dutch parent companies.”

Friday 12 August 2005

By Thomas Catan
Published: August 12 2005

Royal Dutch Shell will today meet representatives of a small number of shareholders who say they have been adversely affected by the recent unification of its British and Dutch parent companies.

On Wednesday, Shell announced it had acquired 98.8 per cent of the shares in Royal Dutch and was considering options to obtain the rest. These include “squeezing out” the remaining shareholders, or further restructuring the now defunct Royal Dutch entity to deal with the problem. 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 Independent: Shell launches $5bn share buy-back plan

The Independent: Shell launches $5bn share buy-back plan

“Shell hopes its restructuring programme will help put the reserves scandal behind it. It has made settlements worth £137m with the US and UK financial regulators and recently agreed to pay $90m in damages to a group of US employee shareholders who had brought a class action against the oil giant. There remain a further two shareholder lawsuits in the US, while both the Dutch markets regulator, the ASM, and Euronext are still investigating the scandal.”

Thursday 11 August 2005

By Damian Reece

Royal Dutch Shell is to continue the restructuring programme triggered by last year’s reserves scandal by launching a share buy-back programme worth up to $5bn.

The company has merged its old Netherlands-based Royal Dutch operation with the UK-based Shell Transport & Trading to create a unified business.

A lack of management clarity and a complicated ownership structure had been blamed in part for last year’s crisis, when the company was forced to admit it had misled investors by overstating the amount of its oil reserves. 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 TIMES: Angry shareholders tell Shell to halt $5bn buyback plan

THE TIMES (UK): Angry shareholders tell Shell to halt $5bn buyback plan

“FURIOUS shareholders urged Royal Dutch Shell to suspend a large share buyback programme last night amid concerns that it might cost the group up to €220 million (£151 million).”

Thursday 11 August 2005

By Richard Irving

FURIOUS shareholders urged Royal Dutch Shell to suspend a large share buyback programme last night amid concerns that it might cost the group up to €220 million (£151 million).

Investors called on Shell to drop a $5 billion buyback, announced yesterday, while its lawyers finalise a separate deal to buy out residual shareholders in Royal Dutch, the former Dutch parent company.

Shell said that about 1.3 per cent of shareholders in Royal Dutch had failed to swap their holdings into Royal Dutch Shell, the new entity formed out of the merger of the oil giant’s Dutch and UK parent companies. 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.

Daily Telegraph: Shell rebel investors dig their heels in

Daily Telegraph: Shell rebel investors dig their heels in

“David Windsor-Clive, 44, another dissident shareholder and former banker who is facing a £600,000 tax bill on a £2m family holding in Royal Dutch, said he was considering suing Shell if it failed to ease the tax hit.”

Thursday 11 August 2005

By Christopher Hope, Business Correspondent (Filed: 11/08/2005)

A stubborn rump of rebel shareholders in Royal Dutch Petroleum has failed to accept the terms of the merger with Shell Transport and Trading to create Royal Dutch Shell.

British investors in Royal Dutch are holding out because they face a large capital gains tax bill as a result of the restructuring to form a £128.7billion oil and gas giant.

David Hunter: facing a tax bill of tens of thousands of pounds

Shell announced yesterday that, after the offer period had been extended for several weeks, 1.3pc of the shareholders in Royal Dutch had failed to accept the terms. The news prompted Shell to reiterate its threat “to use any legally permitted method to obtain 100pc of the Royal Dutch shares”. 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: Two radical steps could further distance Royal Dutch Shell from the reserves scandal

SHELL: Two radical steps could further distance Royal Dutch Shell from the reserves scandal

Monday 8 August 2005

By John Donovan

Although the media has welcomed the appointment of Jorma Ollila as the new Shell Chairman from June 2006, many of the news reports about his recruitment also include references to the Shell reserves debacle. This is despite the fact that over a year and a half has passed since news first broke about the scandal.

Commentary harking back to the scandal has been a regular feature of news reports about Shell. Although Shell has paid nearly a quarter of a billion dollars in regulatory fines and litigation settlements, other litigation is still proceeding, as well as on-going investigations, so there is no prospect of negative commentary abating any time soon. There is also the matter of the pending FSA tribunal ruling in respect of proceedings brought by disgraced former Shell Chairman Sir Phillip Watts. 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 TIMES: Death and disaster spur on oil prices

THE TIMES: Death and disaster spur on oil prices

“Shell frittered away years of credibility by getting itself into a corporate mess for overstating hydrocarbon reserves, a sensitive issue when you are a bit short of them.”

Published by The Times on August 06, 2005

PERSONAL INVESTOR

GRAHAM SEARJEANT

SPECULATORS are so bullish about crude oil at the moment that almost any excuse, any hint of uncertainty, gives a pretext for another push. This week it was the death of King Fahd bin Abdul Aziz Al Saud. In reality, poor King Fahd had a bad stroke in 1996. Since then, the world’s biggest oil exporter has been led by Crown Prince Abdullah, who was quickly made the new King. But no matter.

Long-term issues may not affect the supply of oil coming out of the ground now but that is not the way traders think. The Middle East is more volatile than usual. Anything can happen. And the West needs Middle East oil. 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 upwardly mobile Finn

Financial Times: The upwardly mobile Finn

“Now established as one of the world’s most feted business executives, Mr Ollila is poised for an entirely different challenge as non-executive chairman of oil giant Royal Dutch Shell, a company in the midst of its own corporate transformation from sister Anglo-Dutch companies to a single entity.”: “…his reputation as a stickler for corporate governance standards should help Shell put behind it last year’s scandal involving over-stating its reserves.”

Saturday 6 August 2005

By Christopher Brown-Humes and Hugh Carnegy

Published: August 6 2005

It is one of those tantalising “what if” questions of recent corporate history.

Only three months before Jorma Ollila became chief executive of Nokia in January 1992, the Finnish banks that then controlled the company were in talks to sell the group to Ericsson, its great Swedish rival.

Ericsson walked away. The Swedes had their beady eye on the mobile telephony operation that Nokia had tucked away in its sprawling portfolio of businesses. But they were put off by Nokia’s heavily loss-making consumer electronics division. 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.

Lex: Royal Dutch Shell

Financial Times: Lex: Royal Dutch Shell

“Mr Ollila’s high international standing and proven track record of running a global business make him a credible addition to Shell’s new single board. But, importantly, he is also a Finn.”

Friday 5 August 2005

Published: August 5 2005

The fact that “all major oil” is an anagram of Jorma Ollila is probably not among the reasons why Nokia’s departing chief executive has been appointed as Royal Dutch Shell’s non-executive chairman.

Mr Ollila’s high international standing and proven track record of running a global business make him a credible addition to Shell’s new single board. But, importantly, he is also a Finn. It makes sense for Shell, keen for its streamlined structure to be seen as neither too British nor too Dutch, to appoint someone from outside both cultures. 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 Scotsman (UK): Shell looks to new chairman Ollila to ring the changes

The Scotsman (UK): Shell looks to new chairman Ollila to ring the changes

“Royal Dutch Shell swept aside 100 years of history with the merger of its two boards last month – a move designed to eliminate the failings that led to a scandal about over-booked crude reserves that dogged the group through 2004.”

Friday Aug 05, 2005

Nick Bevens

OIL giant Royal Dutch Shell yesterday appointed the Finnish boss of mobile phone firm Nokia as its new non-executive chairman.

Jorma Ollila, 54, who helped to transform Nokia into one of the world’s most successful mobile phone and telecoms infrastructure companies, will step down as its chief executive next June.

His appointment follows a report last month that the group was seeking a successor for interim chairman Aad Jacobs who was neither British nor Dutch, to avoid upsetting the power balance. 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 Independent: Outlook: Royal Dutch Shell rings the changes as the man from Nokia gets the call

The Independent: Outlook: Royal Dutch Shell rings the changes as the man from Nokia gets the call

“With luck, the careless way in which Shell mislaid 4 billion barrels of reserves will be a dim and distant memory by the time he arrives next June and the company will have bedded down under its new unified structure. But the ‘enterprise first’ culture Shell claims to have inculcated has not stopped it from being accident-prone as the 100 per cent cost over- run on the $10bn Sakhalin project in Siberia demonstrates.”

Friday Aug 05, 2005

MICHAEL HARRISON

As one giant of the oil industry bows out, another takes his place. Well, maybe or maybe not. But Jorma Ollila, the next chairman of Royal Dutch Shell, has a long way to go to emulate Exxon’s Lee Raymond. Hindsight is a wonderful thing and with the benefit of it, Mr Ollila’s appointment as the first outsider to chair Shell really ought to have been obvious from the moment he announced on Monday that he was stepping down from top job at Nokia in a year’s time. 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 Independent (UK): Royal Dutch Shell names Nokia chief as next chairman

The Independent: Royal Dutch Shell names Nokia chief as next chairman

“Mr Ollila is expected to play a key role in the strategic development of Shell, which is still recovering from the reserves misreporting scandal last year which cost the previous chairman, Sir Philip Watts, his job and prompted the sweeping corporate overhaul of the company.”

Friday Aug 05, 2005

Michael Harrison

The oil giant Royal Dutch Shell is to appoint an outsider as chairman for the first time in its 100-year history after announcing yesterday that Jorma Ollila, the outgoing chief executive of the Finnish mobile phone group Nokia, will take up the post in June.

Mr Ollila, who will become the non-executive chairman of Nokia at the same time, will be paid pounds 500,000 in his new role at Shell and will be expected to work for the company for two to three days a week. 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.

BLOOMBERG: Shell Names Nokia Chief Executive Ollila as Chairman

BLOOMBERG: Shell Names Nokia Chief Executive Ollila as Chairman (Update6)

“Shell, Europe’s second largest oil company, ousted former Chairman Philip Watts and two other senior executives, paid a record fine in the U.K. and lost its top tier credit rating after announcing the restatement of its oil and gas reserves last year.”: “Cost overruns and delays at Shell projects such as its Sakhalin oil and gas venture in Russia have also spurred concern about the company’s project management and internal control, according to analysts and investors.”

Posted Friday 5 August 2005

Aug. 4 (Bloomberg) — Royal Dutch Shell Plc, seeking to restore investor confidence after overstating oil and gas reserves for three years, said it picked Nokia Oyj’s Jorma Ollila as chairman following an eight-month search.

Ollila, Nokia’s chairman and chief executive officer, will succeed Aad Jacobs in the non-executive role at The Hague-based Shell from June 1, 2006, said Bianca Ruakere, a Shell spokeswoman. Ollila, 54, who turned Nokia into the world’s biggest mobile phone company, this week said he’ll step down as CEO next 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.

The Guardian: Nokia chief to take charge at Shell

The Guardian: Nokia chief to take charge at Shell

“His appointment, which will run for an initial period of three years, marks a further step in the restructuring at Royal Dutch Shell in the wake of the reserves over-booking scandal last year.”

Friday August 5, 2005

Mark Milner and Richard Wray

Royal Dutch Shell has chosen the outgoing Nokia chief executive, Jorma Ollila, to become its £500,000-a-year non-executive chairman.

The new chief, who will replace Aad Jacobs, will be based in the Hague and will take up his new role in June next year.

His appointment, which will run for an initial period of three years, marks a further step in the restructuring at Royal Dutch Shell in the wake of the reserves over-booking scandal last year.

Mr Ollila, under whose stewardship Nokia was transformed into the world’s leading mobile phone maker, was selected after a process which included executives from the US, Britain, the Netherlands and elsewhere in continental Europe. His appointment is understood to have been approved unanimously by both the committee set up to find a new chairman and the Royal Dutch Shell board. 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 Names Nokia’s Ollila As Nonexecutive Chairman In Move Toward Overhaul

THE WALL STREET JOURNAL: Shell Names Nokia’s Ollila As Nonexecutive Chairman In Move Toward Overhaul

Friday 5 August 2005

By MICHAEL WILLIAMS, DAVID PRINGLE and BENOÎT FAUCON
Staff Reporters of THE WALL STREET JOURNAL
August 5, 2005; Page A3

Moving ahead with its ambitious revamp, Royal Dutch Shell PLC is turning to an outsider — departing Nokia Corp. Chief Executive Jorma Ollila — as its next nonexecutive chairman.

Shell’s appointment of the 54-year-old Mr. Ollila follows the announcement earlier this week that he is stepping down as CEO of Nokia, effective in June, upon the expiration of his contract. At Shell, Mr. Ollila will succeed Aad Jacobs upon his scheduled retirement June 1.
[Ollila] 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.

Daily Telegraph: Finland’s mobiles guru to head Shell

Daily Telegraph: Finland’s mobiles guru to head Shell

“Royal Dutch Shell yesterday ended its 10-month hunt for a new chairman with the surprise hiring of Finnish mobile phone guru Jorma Ollila.”: “The appointment almost completes the revamping of Shell’s board triggered by last year’s oil reserves overbooking scandal, which was partly blamed on the company’s bureaucratic structure.”

Friday 5 August2005

By Dominic White (Filed: 05/08/2005)

Mr Ollila, who announced his decision to retire as chairman and chief executive of Nokia this week, will get £500,000 a year when he becomes Shell’s non-executive chairman next June.

A corporate hero in his homeland, the 54-year-old will replace Aad Jacobs, who has been chairman of the Royal Dutch arm of the group since 2002 and is due to retire next year when he turns 70.

Mr Jacobs recently hinted at a successor who was neither British nor Dutch to avoid upsetting the oil giant’s delicate balance of power. 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 News Thursday, 3 February 2005

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 News Saturday 29 January 2005

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 News Archive Tuesday, 4 January 2005

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.

From our Shell News Archive for Saturday 13 November, 2004

From our Shell News Archive for  Saturday 13 November, 2004

Daily Telegraph (UK): Shell will reward its investors: “Shell’s shareholders will be rewarded with a dividend bonanza next year if they vote through the Anglo-Dutch company’s restructuring plans in the spring.” (ShellNews.net) 13 Nov 04

THE TIMES (UK): Oil major commits to staying in UK for a decade: “SHELL has promised to maintain its North Sea oil operations for at least the next nine to ten years, a commitment intended to calm fears that the oil major will abandon the dwindling oil and gasfields of Britain.” (ShellNews.net) 13 Nov 04 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 News Archive Sunday 7 November, 2004

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 News Archive Thursday 4 November, 2004

From our Shell News Archive Thursday 4 November, 2004

Newstatesmen 4 Nov 04: The business – Patrick Hosking on Shell’s move to the Netherlands: The London head office of the UK half of the business, Shell Transport & Trading, is being disbanded.”: “…London will become a mere branch. The company’s centre of gravity will shift further over the North Sea.”: “Last month, the company had to admit that it may have got its figures wrong for the fifth time in a year.”

BLOOMBERG: Shell, ChevronTexaco Are Accused of Fixing Gas Prices (Update1):  Shell Oil Co., ChevronTexaco Corp., and a unit of Saudi Aramco were sued by a group of gasoline dealers who claim the companies conspired to fix the price of fuel sold to about 20,000 service stations nationwide.”: “The suit in Manhattan federal court claims that in 1996, senior officers of Saudi Refining Inc., “Shell and Texaco met and entered into an agreement to raise, fix, peg and stabilize the price of motor fuel sold to Shell and Texaco dealers.” 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.

All the worst Shell traits – secrecy, haughtiness, inertia

From our Shell News Archive Sunday 31 October, 2004

The fallout from the Shell reserves fraud continues…

The Independent On Sunday (UK): Business View: Shell’s real location problem is finding more black stuff: “The misreporting of reserves scandal showed all the worst Shell traits – secrecy, haughtiness, inertia.”: “So what’s the hurry? Was it because Shell had to admit that it had uncovered another 900 million barrels of doubtful crude in its reserves and was likely to uncover 600 million more?”

Sunday Express (UK): Shell boardroom changes backfire on reserves news: “ONE OF the world’s most influential financial firms has given the thumbs down to an announcement from Shell it is to end its 97-year-old dual board structure.”: “…financial ratings agency Standard & Poor’s said it had adjusted Shell’s investment rating downwards to “creditwatch negative”, a status which implies there may be more bad news to come from the company.”

Mail on Sunday (UK): Shell bosses in a charm offensive: “The Board, headed by Jeroen van der Veer, will see thousands of staff to explain the proposed changes and shore up the mood of the employees damaged by scandals over Shell’s inflated oil reserves.”: “Last week, Shell was forced to downgrade its estimates of proven oil reserves for the fifth time this year. Reserves are now a third lower than originally thought” 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.

From our Shell News Archive: Saturday 30 October, 2004

From our Shell News Archive: Saturday 30 October, 2004

Financial Times: Look under the Shell: “One conspiracy theory doing the rounds yesterday was that those Dutch chaps now running Royal Dutch/Shell were more cunning than they first appear, in spite of the company’s inability to count reserves over several years.”

FINANCIAL TIMES: Shell’s credit rating goes back under review: “Standard & Poor’s yesterday put Royal Dutch/Shell’s AA+ credit rating under “negative” review because it may have to restate its proved reserves yet again.”: “Concerns were also raised about whether Shell tried to bury the bad news on reserves yet again by announcing its restructuring at the same time. “The information was found on page three, line 15 in one of the longest paragraphs I have ever seen,” said one London-based broker.” 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 stuns City with revamp

From our October 2004 Shell News Archive

London Evening Standard: Shell stuns City with revamp

“The troubled group wants to draw a line under its devastating oil and gas reserves crisis earlier this year by creating a new £100bn holding company, Royal Dutch Shell Plc.”: “Buried deep in the results statement, Shell said it was considering yet another downgrade after a review of 8bn barrels of reserves for the year to December.”

Steve Hawkes,

28 October 2004

ANGLO-DUTCH giant Shell stunned the City today by unveiling plans to scrap its century old corporate structure and create ‘one company, one board and one chief executive.

The troubled group wants to draw a line under its devastating oil and gas reserves crisis earlier this year by creating a new £100bn holding company, Royal Dutch Shell Plc.

It will effectively take over the British and Dutch arms, which came together in a joint venture in 1907 with Royal Dutch owning 60%. The new group will be based in the Netherlands but listed in London. 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.

Royal Dutch/Shell to merge

From our October 2004 Shell News Archive

Royal Dutch/Shell to merge

Netherlands HQ ‘not a victory for the Dutch’: “Yet Shell’s governance scheme wasn’t without a few surprises, chiefly that the headquarters will be based in The Hague, Netherlands along with two of the group’s three main businesses.”

By Emily Church,

Oct. 28, 2004

LONDON (CBS.MW) — Oil major Royal Dutch Shell on Wednesday said it plans to merge its Dutch and U.K. companies, breaking close to a hundred year tradition as a dual Anglo-Dutch group.

The move was expected and follows shareholder outrage after a shock downgrade of proven oil reserves in January. Yet Shell’s governance scheme wasn’t without a few surprises, chiefly that the headquarters will be based in The Hague, Netherlands along with two of the group’s three main businesses. 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.

Market in need of a ‘most probable’ reserve estimate: By Eric Knight

Financial Times: Letters: Market in need of a ‘most probable’ reserve estimate: By Eric Knight:

Posted 24 Sept 04

From Mr Eric Knight.

Sir, The reclassification of 23 per cent of Shell’s proved reserves this year cast doubt on both Shell’s governance and the longevity of its reserves. The need to reform Shell’s structure now appears genuinely to have been accepted. Of equal importance, however, is the need to restore confidence in Shell’s reserves.

Oil and gas recoverable from both discovered and undiscovered deposits is known as a company’s resource base. Exploration, acquisitions and technological advancement increase this resource base and are a key indicator of long-term potential. Reserves, which account for part of the resource base, are sub-divided into “possible”, “probable” and “proved”, in order of increasing conservatism. 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.

Jeroen van der Veer, Democratic Dutchman with a charisma bypass

The Guardian: Democratic Dutchman with a charisma bypass

“One of his endearing traits is to ask his exploration director Malcolm Brinded, a more natural performer it must be said, to tell him if he gets things wrong: “Malcolm, check me if I drop the ball,” van der Veer said at one stage.”: “An outsider would be better suited for that post, especially as van der Veer’s name comes up, along with other Shell directors, in class actions in the US. It must be hard to focus on the way forward with the cloud of the past hanging over you…”

Terry Macalister

Posted 24 September 2004

In the halcyon days pre-January, Shell used to summon analysts and the media to its landmark tower overlooking the Thames.

Those occasions were presided over by former chairmen Sir Philip Watts or Sir Mark Moody-Stuart with a certain hauteur.

Now, the trouble-prone group prefers to keep oil-watchers out of its headquarters, and yesterday used the Plaisterers Hall near the Barbican for what it had billed as a major strategy briefing.

Another break with the past is that current chairman Jeroen van der Veer is a democratic Dutchman who could not do smugness if he tried. 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 unveils $15bn recovery plan

The Guardian: Shell unveils $15bn recovery plan

“The reserves scandal forced Shell’s chairman, Philip Watts, to resign, along with Walter van de Vijver, its oil and gas chief and its chief financial officer, Judy Boynton. The company was fined by the financial services authority in the UK and the securities and exchange commission (SEC) in the US.”

Mark Tran

Posted 23 Sept 2004

The Anglo-Dutch oil giant Shell today sought to draw a line under its reserves scandal by announcing plans to spend $15bn (£8.4bn) a year to replenish reserves and develop production in its oil and gas business.

The world’s third-largest oil company also said it would sell $10-$12bn of non-core businesses over three years and would look at “focused acquisitions” to create value.

“We are focused on improving our competitive position, strong cash generation and total shareholder returns,” Jeroen van der Veer, the Shell chairman, said in the group’s strategy statement. “Replacing our reserves is a priority to support future growth.” 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 Chairman May Accelerate Asset Sales, Buyback

Bloomberg: Shell Chairman May Accelerate Asset Sales, Buyback (Update1)

“Royal Dutch/Shell Group Chairman Jeroen van der Veer, saddled with lawsuits and government probes related to Shell’s oil and gas reserves…”: Probes by the U.S. Justice Department, the Dutch securities regulator and the Euronext stock exchange are continuing.”

Posted 22 Sept 04

Sept. 21 (Bloomberg) — Royal Dutch/Shell Group Chairman Jeroen van der Veer, saddled with lawsuits and government probes related to Shell’s oil and gas reserves, may accelerate asset sales and extend stock buybacks to regain investors’ confidence.

Shell, based in London and The Hague, this year and in 2005 may sell chemical, and gas and power assets worth as much as $10 billion, including its share of chemicals maker Basell and power venture Intergen, analysts at Deutsche Bank AG said. The world’s third-largest oil company is scheduled to outline its strategy tomorrow in London, starting with a statement at 8:45 a.m. 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.

Appeals slow FSA disciplinary process

The Guardian: Appeals slow FSA disciplinary process

“The latest high-profile application to the tribunal was made last week by Sir Philip Watts, former chairman of Shell…”

JILL TREANOR

Sep 22, 2004

The Financial Services Authority admitted last night the rising number of appeals against fines it levies on firms and individuals breaking City rules was slowing down the disciplinary process.

Last year the FSA’s new chief executive, John Tiner, pledged to speed up the time it took the regulator to carry out inquiries. Callum McCarthy, the FSA chairman, told a City audience last night that appeals to the financial services and markets tribunal was preventing the regulator reaching this goal. He said that “the increased recourse to the tribunal may sadly not result in faster decisions or faster justice overall”. 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 Hosts Strategy Review

YahooNews/PRNewswire: Shell Hosts Strategy Review

Regaining Upstream Strength, Delivering Downstream Profits: $45 billion in capital expenditure 2004-2006 anticipated: Focus on more Upstream gas and oil: Extend LNG leadership position: $10-12 billion in divestments planned 2004-2006: “Disclaimer statement”: “subject to risk factors…”: including potential litigation and regulatory effects arising from recategorisation of reserves…”

LONDON, September 22 /PRNewswire-FirstCall/ —

Focus on profitability and cash flow from Downstream businesses: Higher energy price environment

At a Strategy Review in London today Shell outlines its strategic plans for its upstream and downstream activities.

Jeroen van der Veer, Chairman of the Committee of Managing Directors chairs the session, with presentations also by Tim Morrison, acting Group CFO; Rob Routs, Group Managing Director (MD)/CEO of Oil Products and Chemicals; Malcolm Brinded, MD/CEO of Exploration and Production; and Linda Cook, MD/CEO of Gas and Power. The presentations will be repeated in New York on September 23, 2004. 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.

Parlous state of Shell’s oil exploration business

Financial Times: “While Royal Dutch/Shell has been grappling with its corporate structure in the wake of the scandal over its overbooking of reserves, attention has been drawn away from the parlous state of its oil exploration business.”

20 Sept 04

While Royal Dutch/Shell has been grappling with its corporate structure in the wake of the scandal over its overbooking of reserves, attention has been drawn away from the parlous state of its oil exploration business.

Wednesday’s strategy review will give the Anglo- Dutch group the opportunity to show how it is getting back to the fundamental business of finding oil. Its reserve replacement rate – the level at which it replaces the oil that it pulls from the ground – is running at a deeply unimpressive 60-80 per cent this year. The company is aiming to get this back up to 100 per cent over the next five years. 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 asks publisher how to manage its Anglo-Dutch split

Daily Telegraph: Shell asks publisher how to manage its Anglo-Dutch split

“Executives at crisis-hit oil and gas giant Shell have approached Reed Elsevier for tips on how to copy its management structure”

By David Litterick and Christopher Hope (Filed: 20/09/2004)

Executives at crisis-hit oil and gas giant Shell have approached Reed Elsevier for tips on how to copy its management structure as the Anglo-Dutch group seeks ways to improve its corporate governance.

Sir Crispin Davis: completed the unification of Reed Elsevier’s boards

The news is the clearest signal yet that Shell is moving towards combining its two boards, as Reed has done, rather than spend hundreds of millions of pounds merging its UK and Dutch businesses. 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 ‘to scrap dual board structure’

The Observer: Shell ‘to scrap dual board structure’

“Shell chief executive Jeroen van der Veer has accepted that the beleaguered Anglo-Dutch oil company must overhaul its complicated structure and introduce a single board, according to a key investor.”

Oliver Morgan, industrial correspondent

Sunday September 19, 2004

Shell chief executive Jeroen van der Veer has accepted that the beleaguered Anglo-Dutch oil company must overhaul its complicated structure and introduce a single board, according to a key investor.

Eric Knight is managing director of Knight Vinke Asset Management and was one of the most vocal critics of Shell’s management structure in the months after the oil company revealed it had over-booked its reserves. He now says he is satisfied van der Veer has decided to make the move. 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 may present recovery plan

CNNMoney: Shell may present recovery plan

“Royal Dutch/Shell Group is expected to try to put the damaging scandal of its overstated oil reserves behind it when it gives its annual strategy presentation next week.”

Analysts expect details on governance reform, asset disposal and replacing reserves next week.

September 17, 2004:

LONDON (Reuters) – Royal Dutch/Shell Group is expected to try to put the damaging scandal of its overstated oil reserves behind it when it gives its annual strategy presentation next week.

Analysts said they hoped the presentation would give clues on asset disposals, expected changes in Shell’s governance structure and details of how the company plans to achieve its reserve replacement targets in coming years. 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 ‘to create single board’

London Evening Standard: Shell ‘to create single board’

“ONE OF the most outspoken shareholder activists in Shell believes the creation of a single board under chief executive Jeroen van der Veer is now a ‘fait accompli’.”

Steve Hawkes,

17 September 2004

ONE OF the most outspoken shareholder activists in Shell believes the creation of a single board under chief executive Jeroen van der Veer is now a ‘fait accompli’.

Eric Knight, managing director of Knight Vinke Asset Management, is convinced such a move may be just months away as the Anglo-Dutch group looks to draw a line under its reserves crisis.

He said: ‘We are going to see some changes this year.’

Van der Veer is due to give a crucial strategy presentation in the City next Wednesday and has sought to defer all questions about the review of Shell’s corporate structure until November. 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 to give no governance review at Sept strategy update – FT

AFX Europe (Focus): Shell to give no governance review at Sept strategy update – FT

“…at a meeting with about 10 UK institutional investors last week, van der Veer said that all decisions regarding future structural changes would be announced in November.”

Posted Sept 13, 2004

LONDON (AFX) – Anglo-Dutch oil giant Royal Dutch/Shell has decided against providing an update of its ongoing review into structure and governance when it unveils its revamped business strategy later this month, the weekend Financial Times reported, citing investors and shareholders at a meeting last week.

Instead, the oil giant will publish the results of its wide-ranging internal review in November, the newspaper said.

Last month, Jeroen van der Veer, group chairman of the Anglo-Dutch oil group, had signalled that Shell might release some details of the review alongside the unveiling of its latest strategy plan on Sept 22. 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 Independent: Shell still wrestling with its moment of shame

FROM OUR AUGUST 2004 SHELL NEWS ARCHIVE

The Independent: Shell still wrestling with its moment of shame

“Shell is bluntly accused of making false and misleading statements about its oil reserves over a five-year period, of doing so despite internal warnings that the statements were false”

JEREMY WARNER

United Kingdom; Aug 25, 2004

SHELL CAN only hope that yesterday’s parallel statements from the Financial Services Authority and the US Securities and Exchange Commission on the reserving debacle that threatened to engulf the company earlier this year finally closes the chapter on one of the darkest and most disreputable periods in its history.

The statements themselves make humiliating reading for a company that invests so heavily in public trust. Where once you could be sure of Shell, there seems very little you can be sure of now. Shell is bluntly accused of making false and misleading statements about its oil reserves over a five-year period, of doing so despite internal warnings that the statements were false, and then of blithely failing to correct the misleading impression given. 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.

Expatica: Shell, Total tight-lipped over merger rumour

Expatica: Shell, Total tight-lipped over merger rumour

16 August 2004

AMSTERDAM — Royal Dutch/Shell has declined to be drawn into rumours the Anglo-Dutch oil giant faced a potential takeover bid from French rival Total.

Total has also declined to comment on the report in British Sunday newspaper the Observer.

Without quoting sources, the paper said Shell insiders fear Total will launch a raid and force a merger, and that the takeover was the subject of “fevered speculation”.

“Total, the world’s fourth-largest oil firm, is considered the only predator capable of gaining regulatory approval for what would be a spectacular merger,” the paper said. 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.

SKYNEWS: TOTAL SILENT OVER BID

SKYNEWS: TOTAL SILENT OVER BID

16 August 2004

French oil group Total is refusing to comment on rumours that it is considering a bid for Shell.

A report referring to a Royal Dutch/Shell and Total tie-up said the two groups were “the subject of fevered speculation”, adding that Shell executives were anxious.

“We do not comment on rumours,” a Total spokeswoman said, echoing comments from Shell.

The Observer report quoted an oil analyst as saying that on paper it would fit but the main issue would be who would be in charge. 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.

Reuters: Total declines comment on Shell report

Reuters: Total declines comment on Shell report

Mon 16 August, 2004 07:37

PARIS (Reuters) – Total has declined comment on a report in The Observer that said executives at Royal Dutch/Shell were concerned about a potential takeover bid from the French oil group.

The paper said a tie-up between the two groups was “the subject of fevered speculation”, but did not cite any sources and said there were no indications that board members or advisers had spoken about a combination of the companies.

“We do not comment on rumours,” a spokeswoman for Total said on Monday. 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.

WHY SHELL MUST ACT NOW TO CALM TROUBLED WATERS

SUNDAY EXPRESS: WHY SHELL MUST ACT NOW TO CALM TROUBLED WATERS

“But restructure may not be enough after scandal, resignation and fines, reports Robin Pagnamenta”

But restructure may not be enough after scandal, resignation and fines, reports Robin Pagnamenta

JEROEN VAN DE VEER smiled broadly in the cavernous interior of the New York Stock Exchange last week as he rang the opening bell for trading. The bespectacled Royal Dutch/Shell chairman was celebrating the 50th anniversary of the firm’s listing.

For perhaps the first time since his emergency appointment five months ago — after Sir Phil Watts was sacked after a misreported oil reserves scandal — van de Veer must have felt he was being feted rather than assaulted from all sides. 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.

An oil giant’s road from Rajasthan to ruin

 FROM OUR AUGUST 2004 SHELL NEWS ARCHIVE…

The Independent: Michael Harrison’s Outlook: An oil giant’s road from Rajasthan to ruin

“Shell, by contrast, has endured the most humiliating, torrid and damaging period in its 100-year history. It is hard to think of a more spectacular fall from grace or a more abject example of management failure.”: “The deeper it dug itself into this hole, the more Shell was forced to lie” 

Fortunes; Failure; Scramble

14 August 2004

It is a long way from the arid deserts of Rajasthan to the Shell Centre on London’s South Bank. But two events this week provide a link.

One was the announcement by Cairn Energy that it had made yet another significant oil discovery in a region of India hitherto better known for its sumptuous pink palaces and backpacking tourists. The other was the disclosure that Shell’s former head of exploration and production, Walter van de Vijver, is to receive a £2.5m pay-off after being sacked for his part in the company’s reserves scandal. 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.

Daily Mail: Board reforms will suit Shell

Daily Mail: Board reforms will suit Shell

“Call it a triumph of globalisation – or call it a total mess.”

Ruth Sunderland
13 August 2004
Posted 14 August 04

THE senior oilmen who resigned in the wake of Shell’s reserves crisis this year must rank pretty high up the league table of executives who are rewarded for failure.

Dutchman Walter van de Vijver, the former exploration boss, is receiving a golden handshake of up to €3.8m or £2.54m.

Given that he has been portrayed as an ineffectual whistleblower, some may wonder why he is being handed an even bigger golden handshake than the £1m-plus doled out to departed chairman Sir Philip Watts. 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.