Posts on ‘July 29th, 2004’

The Times: BG’s bet on Bolivian gas could help it to breeze past oil majors By Angela Jameson 29 July 2004 OIL prices soar and another energy company reports record profits. Sounds like a familiar story but at BG Group there is something different going on. Of course, BG has benefited from the high oil [...]

The Times: BG investigated over Kazakhstan customs duties “BG is talking to the Kazakhstan Energy Minister to try to settle the deal on the terms agreed with the partners Eni, ExxonMobil, Shell and Total.” By Angela Jameson, Industrial Correspondent July 29, 2004 BG GROUP, the oil and gas producer, is being investigated by the Kazakhstan [...]

The Times: BP ‘risking its reputation’ in Russian oil deal By Dominic Kennedy July 29, 2004 BP WAS accused yesterday of gambling with its reputation by buying into a Russian oil company part-owned by the Chelsea football club boss Roman Abramovich. The warning came from the Liberal Democrat Treasury spokesman Vincent Cable, an oil expert, [...]

The Independent: BG soothes fears over Kazakhstan tax inquiry: “BG had planned to sell its stake to its partners, who include Shell, Exxon-Mobil, Total and ENI, until the government stepped in.” By Michael Harrison Business Editor 29 July 2004 BG, the oil and gas exploration group, yesterday shrugged off an investigation by the Kazakhstan government [...]

Financial Times: BG burns as bright as sector’s giants: Royal Dutch/Shell is also expected to report impressive earnings today as a result of higher oil prices. By James Boxell Jul 29, 2004 BG Group continued to match its bigger rivals yesterday as it reported a sharp rise in second-quarter profit on the back of record [...]

Yahoo.com: SEC Settlement With Royal Dutch Shell Fails to Fix Governance Flaws That Allowed Fraud to Occur and Fails to Hold Executives Personally Accountable for Over $150 Million in Fines Thursday July 29, 3:14 pm ET SAN DIEGO, July 29 /PRNewswire/ — The Securities and Exchange Commission’s (SEC) decision to end its investigation of the [...]

Bloomberg: Shell Pays $150 Million to End Probe; Output May Fall “hopeful step in ending the reserves debacle that led to the ouster of three senior executives, the loss of a top-tier investment rating and more than a dozen shareholder lawsuits” July 29, 2004 July 29 (Bloomberg) — Royal Dutch/Shell Group agreed to pay $150 [...]

London Evening Standard: Shell pays over reserves scandal “It still faces a host of multi-billion dollar class-action lawsuits and a US Department of Justice probe.”: Steve Hawkes, Evening Standard 29 July 2004 TROUBLED oil giant Shell has agreed to fork out £83m in penalties to UK and US stock market regulators to settle the reserves [...]

BBC NEWS: Shell fined over reserves scandal “will pay a penalty of £17m to the FSA – the biggest fine ever imposed by the regulator – and a $120m (£65.7m) civil penalty in the US. The scandal rocked investor confidence 29 July 04 Oil giant Shell has agreed to pay more than £80m in penalties [...]

TheStarOnline: Shell fined US$120 million “Rebuilding credibility” and “regaining trust” are now the company’s key priorities, it said in its annual report.” 29 July 04 LONDON (AP) – The Royal Dutch/Shell Group of Cos. said Thursday it has agreed to pay a penalty of US$120 million to the U.S. authorities over the company’s misstatement of [...]

Reuters: Shell pays fines for reserves woes “Royal Dutch/Shell will pay about $150 million (82 million pounds) in fines for an oil reserves scandal that tarnished its reputation” “Shell’s profits looked reasonable, but concerns remain over future production.” Oriel Securities analyst Richard Rose By Sudip Kar-Gupta Thu 29 July, 2004 09:12 LONDON/AMSTERDAM (Reuters) – Royal [...]

The Scotsman: Shell Fined £65M after Reserves Crisis “inquiry which found that Shell violated reporting, record-keeping and anti-trust rules.” By David Winning, City Staff, PA News Thu 29 Jul 2004 8:07am (UK) Oil giant Shell said today it had been hit with a 120 million US dollar (£65.7 million) fine following its reserves crisis earlier [...]

The Wall Street Journal: Shell Transport To Resolve FSA And SEC Investigations “Shell to cease and desist from future violations of, the antifraud, reporting, recordkeeping and internal control provisions of the U.S. Federal securities laws and related SEC rules.” DOW JONES NEWSWIRES July 29, 2004 3:12 a.m. Edited Press Release LONDON — The Royal Dutch/Shell [...]