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Shell Press Releases |
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23rd November, 2004
Shell announces sale of shares in Shell Romania SRL
Shell announces sale of shares in Shell Romania SRL
23 Nov 2004
The Royal Dutch/Shell Group of Companies (Shell) and the MOL Group (MOL) have signed a Sale and Purchase Agreement for the sale of the shares in Shell Romania SRL, excluding Shell Gas Romania S.A.
The divestment includes a network of 59 retail service stations geographically spread across Romania and the Aviation, Lubricants, Commercial and Marine businesses ...
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22nd November, 2004
Adoption of International Financial Reporting Standards
Adoption of International Financial Reporting Standards
22 Nov 2004
22 November 2004 - The Royal Dutch / Shell Group of Companies will today give a presentation on the accounting impacts of the adoption of International Financial Reporting Standards (IFRS) and aspects of Netherlands Generally Accepted Accounting Principles (GAAP) and US GAAP. The European Union has endorsed regulations that require listed European companies to comply with IFRS in 2005.
The presentation slides are available to download here: (PowerPoint - 385Kb) (PDF - 204Kb) The presentation will be available via live audio webcast at 14:00 GMT (15:00 CET and 09:00 EST) on 22 November 2004. Register for the audio webcast. An archive of the audio web cast will be available on the web site by the close of business on 22 November 2004. The highlights of that presentation are summarised below: Financial statementsThe Royal Dutch / Shell Group will implement IFRS for publication of their financial statements in 2005 and provide comparative data for 2004. The 2005 Form 20-F will provide reconciliation to US GAAP. Impacts from IFRS arise from first time adoption choices and differences in accounting policies between US GAAP and IFRS.Group strategy and financial frameworkThere is no impact on the Group strategy.There is no impact on the financial framework or cash flow.Transition balance sheet 1 January 2004The net assets on the balance sheet at transition, 1 January 2004, are expected to decrease by approximately $4.7 billion and total debt to increase by approximately $0.2 billion. This has a positive effect on ROACE on a net income basis Main topics covered:
Employee benefits (pension funds)There is no impact on the actuarial position or funding of the pension funds, which continue to be well funded.Unrecognised gains and losses at the date of transition (1 January 2004) will be recognised in the 2004 opening balance sheet with a corresponding reduction of retained earnings of $4.9 billion.The use of the fair value of plan assets (rather than market-related value) to calculate annual expected investment returns and the changed approach to amortisation of investment gains/losses can be expected to increase volatility in net income going forward.Net equity and CCTDAt transition (1 January 2004), the composition of net equity changes because cumulative currency translation differences (CCTD) will be recorded as part of retained earnings.Retained earnings are increased by approximately $1.2 billion ...
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19th November, 2004
Winners announced for the fifth Shell and The Economist writing competition
Winners announced for the fifth Shell and The Economist writing competition
19 Nov 2004
The Economist and Shell are pleased to announce the winner of their fifth annual international writing competition entitled 'Import Workers or Export Jobs?'
Claudia O'Keefe of West Virginia, USA, beat nearly 2,500 entrants from 96 countries with her essay 'The Traveling Bra Salesman's Lesson' ...
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17th November, 2004
Shell announces sale of Gulf of Mexico natural gas pipelines
Shell announces sale of Gulf of Mexico natural gas pipelines
17 Nov 2004
HOUSTON – Shell US Gas & Power LLC announced today that it has entered into a purchase and sale agreement with Enbridge Inc ...
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15th November, 2004
Sakhalin Energy signs awards for three LNG ships
Sakhalin Energy signs awards for three LNG ships
15 Nov 2004
London, United Kingdom, 15 November 2004: In another milestone for the Sakhalin II Project, Sakhalin Energy Investment Company Ltd ...
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10th November, 2004
Shell opens first combined hydrogen and gasoline station in North America
Shell opens first combined hydrogen and gasoline station in North America
10 Nov 2004
General Motors to be first customer at retail site in Washington, D.C. WASHINGTON, D.C. (Nov. 10, 2004) – Shell Hydrogen (U.S.) opened the first hydrogen dispenser at a retail gasoline station to service a fleet of six fuel cell vehicles from the General Motors Corporation, the companies announced today.
Located in northeast Washington, D.C, the station is part of a collaboration between Shell and GM to demonstrate hydrogen fuel cell vehicles and refueling infrastructure technology, an important contribution in making fuel cell vehicles an everyday reality ...
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9th November, 2004
TransCanada and Shell to jointly pursue offshore LNG terminal in Long Island Sound
TransCanada and Shell to jointly pursue offshore LNG terminal in Long Island Sound
10 Nov 2004
CALGARY, Alberta - November 9, 2004 - (TSX: TRP) (NYSE: TRP) - TransCanada Corporation and Shell US Gas & Power LLC (Shell) today announced plans to develop an offshore liquefied natural gas (LNG) regasification terminal, named Broadwater Energy, in the New York State waters of Long Island Sound ...
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5th November, 2004
Shell announces alliance with Sol group
Shell announces alliance with Sol group
05 Nov 2004
The Royal Dutch/Shell Group of Companies (Shell) and the Sol Group (Sol), a petroleum affiliate of the Interamericana Trading Corp (ITC), today announced that they will sign a Sale and Purchase Agreement and a Trade Mark Licence Agreement relating to the divestment of Shell's Oil Products businesses in Barbados, St ...
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5th November, 2004
Shell and Pan-Ocean discover 2nd Oil accumulation in the Awoun Permit Gabon, West Africa
Shell and Pan-Ocean discover 2nd Oil accumulation in the Awoun Permit Gabon, West Africa
05 Nov 2004
Following the Koula discovery made in September 2004, Shell Gabon and its co-venturer Pan-Ocean Energy Corporation Limited announce a second light oil discovery in the exploration well AWODAM001 drilled on the flank of the Damier prospect in the Awoun permit, some four kilometers southwest of Koula. The two discoveries are located eight kilometers to the north of the Total/Shell producing Avocette field, and five kilometers to the northwest of Pan-Ocean's producing Obangue field.
The AWODAM001 exploration well was drilled and logged with the Simpler 101 rig to a total depth of 2079 meters ...
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5th November, 2004
Sakhalin Energy signs LNG Sale and Purchase Agreement with Tokyo Electric
Sakhalin Energy signs LNG Sale and Purchase Agreement with Tokyo Electric
05 Nov 2004
Yuzhno Sakhalinsk, Russian Far East, 5 November 2004: The Sakhalin II Project achieved another major marketing success today with the signing of a Sales and Purchase agreement (SPA) for the supply of 1.5 million tonnes per year for 22 years to Tokyo Electric Power Company - Japan's largest power company.
In response to Tokyo Electric's requirements, this is the first SPA with Free On Board terms to be concluded by Sakhalin Energy. It follows an earlier Heads of Agreement (HoA) signed with Tokyo Electric in May 2003 and completes the full terms and conditions of LNG supply and purchase. The finalisation of the deal with Tokyo Electric reinforces the successful partnership that is being forged between Russia and Japan through the Sakhalin II Project. Ian Craig, Chief Executive Officer, signed the SPA on behalf of Sakhalin Energy with Tokyo Electric's President Katsumata at a ceremony in Yuzhno-Sakhalinsk, Sakhalin Island. "Russia is already a reliable and successful supplier of gas to Western Europe ...
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