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Posts from ‘January, 2004’

JANUARY 2004 ROYAL DUTCH SHELL NEWS

JANUARY 2004 ROYAL DUTCH SHELL NEWS Wednesday, January 7, 2004  Canada.com: 90 days to file Shell gas claims: “vehicle engine was damaged by a bad additive in Shell Gasoline 2 years ago”: “Shell Bronze gas contained an additive that was clogging up fuel systems” Friday, January 9, 2004  BBC News: Shell shares dive as reserves [...]

Daily Mail: Rebels demand shake-up at Shell

By Brian O’Connor, 23 January 2004  DISSIDENT Shell investors are seeking a shake-up in the complex structure of the board and its committees. One result may be that an outside chairman is appointed when Sir Philip Watts steps down.  This would be a revolution for Shell, but big investors are in a revolutionary mood.   Though [...]

Daily Mail: Rumours of Watts departure lifts Shell

By Geoff Foster 22 January 2004 RUMOURS were rife that Sir Philip Watts might make a sudden departure. The chairman of Shell has never been everyone’s cup of tea. He further blotted his copybook by failing to turn up to answer analysts’ and investors’ questions about the oil giant’s shock admission that it has cut [...]

Reuters: Shell boss drops out of Davos economic forum

Thu 22 January, 2004 10:29 DAVOS, Switzerland (Reuters) – Royal Dutch/Shell boss Phil Watts, facing shareholder wrath after the company’s downgrade of its oil and gas reserves, has cancelled an appearance at the World Economic Forum. “He’s not coming,” said a Shell spokesman in the Swiss ski resort of Davos on Thursday. “You will understand [...]

New York Times: Shell Lowers Estimate, and Investors Ask Why

By HEATHER TIMMONS January 22, 2004 LONDON, Jan. 21 – Shell’s surprise cut in its reserve estimate this month may be a sign that the uniquely structured company needs to reconfigure itself, some investors and analysts are saying. Attention has been focused on Sir Philip B. Watts, who led the unit in question before becoming [...]

CANADIAN PRESS (NATIONAL POST) Royal Dutch/Shell scales back proved reserves; Canadian estimates unaffected

January 9, 2004 LONDON (AP) – The Royal Dutch/Shell Group is downgrading one-fifth of its proved oil and natural gas reserves after reassessing the prospects of some of its projects. Shell said Friday it was recategorizing 3.9 billion barrels of oil equivalent from proved reserves to “scope for recovery.” None of Shell’s Canadian reserves were [...]

BBC NEWS: Shell shares dive as reserves cut

Published: 2004/01/09 09:44:30 GMT Giant oil group Royal Dutch Shell has said it is trimming its figures for proven oil and gas reserves by 20%.   Stunned investors promptly began a sell-off that knocked more than 7% off the Anglo-Dutch firm’s share price in both London and Amsterdam.   Shell said it does not expect [...]

REUTERS BOND NEWS UPDATE – Moody’s, S&P say may cut Shell ratings

Fri January 9, 2004 04:11 PM ET   NEW YORK, Jan 9 (Reuters) – Moody’s Investors Service and Standard & Poor’s on Friday said they may cut the top ratings for Royal Dutch/Shell Group (RD.AS: Quote, Profile, Research) (SHEL.L: Quote, Profile, Research) , after Shell on Friday cut by 20 percent its estimates of how [...]

FT: Shell makes shock cut in oil reserves estimate

By Joanna Chung and Gordon Smith Published: January 9 2004 9:48   Royal Dutch/Shell, one of the world’s largest and most respected oil companies, shocked shareholders and rivals on Friday by slashing estimates of its proved reserves by 20 per cent.   The revelation that almost 4bn barrels of oil and gas would have to [...]

Canada.com: 90 days to file Shell gas claims

Tony Tighe Global TV January 7, 2004 Anyone who’s vehicle engine was damaged by a bad additive in Shell Gasoline 2 years ago, has until May 7th to apply for compensation. In 2001 and 2002, Shell Bronze gas contained an additive that was clogging up fuel systems in some newer model vehicles. Hundreds of drivers [...]