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BUSINESS
October 10, 2001 | From Times Wire Services
Royal Dutch/Shell Group agreed Tuesday to buy Texaco Inc. out of their two oil-refining joint ventures for $2.1 billion in a transaction that would make Shell the largest U.S. gasoline retailer. The deal, completed after nearly a year of negotiations, also served to eliminate the last hurdle to Texaco's acquisition by Chevron Corp. Shareholders of both companies voted later in the day to approve the $38.6-billion merger to create ChevronTexaco Corp.
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BUSINESS
December 28, 2006
Royal Dutch Shell said Gale A. Norton would join the world's second-largest publicly traded oil company as a general counsel, 10 months after she resigned as U.S. Interior secretary.
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BUSINESS
December 15, 1998 | Times Wire Services
Two giants in their industries announced restructurings on Monday that would put a big dent in earnings and could slash thousands of jobs, while another was reportedly on the verge of making a similar announcement. Royal Dutch/Shell Group, the world's largest publicly traded oil company, said it will take $4.5 billion in special charges in the current quarter in a radical restructuring that would shed businesses and cut costs by about $2.
BUSINESS
July 28, 2006 | From Bloomberg News
Exxon Mobil Corp. and Royal Dutch Shell, the world's No. 1 and No. 3 publicly traded oil companies, reported Thursday combined second-quarter profit of nearly $18 billion as a result of record prices for crude. Net income at Exxon Mobil rose 36% from a year earlier to $10.4 billion, or $1.72 a share. Shell said profit jumped 40% to $7.32 billion, or $1.13 a share.
BUSINESS
March 5, 1992 | CRISTINA LEE, TIMES STAFF WRITER
A Fluor Corp. unit has been awarded a contract valued at $400 million to expand an oil refinery in the Philippines for a subsidiary of the Netherlands-based Royal Dutch/Shell Group. The project for Pilipinas Shell Petroleum Corp. is the largest single contract for Fluor in the Philippines, said Fluor spokeswoman Deborah Land.
BUSINESS
August 20, 2001 | JAMES F. PELTZ, TIMES STAFF WRITER
What's going to happen to the "man who wears the star"? Texaco Inc., the oil giant whose 1960s advertising campaign made that slogan a household phrase a generation ago, is about to be bought by rival Chevron Corp. And the name of the new company would be ChevronTexaco Corp. But ChevronTexaco won't own the 12,800 Texaco gasoline stations in the United States, including the 725 in California.
BUSINESS
March 13, 2001 | Reuters
Royal Dutch/Shell Group took its $1.8-billion hostile bid for Barrett Resources Corp. to the U.S. natural gas company's shareholders, but chose not to raise a bid that was formally rejected last week. Although Barrett said its board would meet to consider the tender offer and make a recommendation to shareholders within 10 business days, the company has already invited competing bids after rejecting the same $55-a-share offer from Shell last week.
BUSINESS
March 8, 2001 | Reuters
Royal Dutch/Shell, the world's second-largest oil company, made a grab for more exposure to the booming U.S. natural gas market with an unsolicited bid of $1.8 billion for Barrett Resources Corp. The Anglo-Dutch company said it had approached the Denver-based gas producer a week ago and will wait until Friday before going hostile with a cash tender offer.
BUSINESS
May 19, 2001 | From Times Wire Services
Exxon Mobil Corp. and Royal Dutch/Shell Group led a group of eight Western companies named Friday that will take part in a $25-billion natural gas development program in Saudi Arabia, the kingdom's biggest opening of its energy industry to outsiders since the 1970s. The companies, including Occidental Petroleum Corp. of Los Angeles, will help Saudi Arabia convert oil-burning utilities to natural gas, which would free up more of the kingdom's crude oil for export.
BUSINESS
March 4, 2005 | From Bloomberg News
Coral Energy Resources, Royal Dutch/Shell Group's Houston-based energy trading company, will pay $4 million to settle charges by federal regulators that it submitted inaccurate information in a probe of the Western U.S. energy crisis of 2000 and 2001. Coral in 2002 told the Federal Energy Regulatory Commission it did not report false data to energy price index publishers, the commission said. In July 2004, Coral agreed to pay $30 million to settle U.S.
WORLD
January 30, 2006 | From Times Wire Reports
Four foreign oil workers held hostage by Nigerian militants were released and were well, a government spokesman said. The hostages -- an American, Briton, Bulgarian and Honduran -- were abducted Jan. 11 from an offshore oilfield in the Niger Delta operated by Royal Dutch Shell. Militants have crippled a tenth of Nigeria's oil production in six weeks of violence.
WORLD
January 13, 2006 | From Times Wire Reports
Gunmen stormed an oil platform run by Royal Dutch Shell off southern Nigeria and kidnapped four foreign workers, including an American, officials said. Attackers in three boats seized the workers from a support vessel attached to the platform Wednesday, a Shell spokesman in London said. Military spokesman Maj. Said Hameed said the four also included a Bulgarian, a Briton and a Honduran.
BUSINESS
January 10, 2006 | From Associated Press
A group of major European shareholders is suing Royal Dutch Shell for several hundred million dollars in damages after the company's 2004 oil reserves accounting scandal, their lawyers said Monday. The 26 institutional investors represent as much as 5% of Shell's stock. They are led by Dutch pension fund ABP -- the world's second-largest pension fund by assets.
BUSINESS
December 2, 2005 | From Associated Press
BP and Royal Dutch Shell have agreed to form joint ventures with Venezuela's state oil company, replacing contracts under which they pumped crude independently, Venezuela's oil minister said Thursday. BP and Royal Dutch Shell are among 15 companies that have signed transitional agreements to move toward the joint ventures, Oil Minister Rafael Ramirez said.
BUSINESS
October 24, 2005 | From Bloomberg News
Exxon Mobil Corp., BP and Royal Dutch Shell, the three largest publicly traded oil companies, are expected to report higher quarterly earnings this week as record energy prices compensated for losses at hurricane-damaged rigs and refineries. The world's five biggest oil companies, which also include Paris-based Total and San Ramon, Calif.-based Chevron Corp.
BUSINESS
August 5, 2005 | From Bloomberg News
Royal Dutch Shell, seeking to restore investor confidence after overstating oil and gas reserves for three years, said Thursday that it had picked Nokia's Jorma Ollila as chairman after an eight-month search. Ollila, Nokia's chairman and chief executive, will succeed Aad Jacobs in the non-executive role at The Hague-based Shell on June 1, Shell said. Ollila, 54, who turned Nokia into the world's biggest mobile phone company, this week said he would step down as CEO the same day.
BUSINESS
October 24, 2005 | From Bloomberg News
Exxon Mobil Corp., BP and Royal Dutch Shell, the three largest publicly traded oil companies, are expected to report higher quarterly earnings this week as record energy prices compensated for losses at hurricane-damaged rigs and refineries. The world's five biggest oil companies, which also include Paris-based Total and San Ramon, Calif.-based Chevron Corp.
BUSINESS
September 4, 1998 | From Reuters
Royal Dutch/Shell Group and Texaco Inc. on Thursday announced plans for a marketing and refining joint venture in Europe, signaling further consolidation in the oil industry. The companies signed a nonbinding memorandum of understanding, with the aim of establishing the joint venture by the middle of next year, offering estimated annual pretax savings of at least $200 million. Under terms of the memorandum, Royal Dutch/Shell will have an 88% interest in the joint venture, with White Plains, N.Y.
BUSINESS
June 28, 2005 | From Bloomberg News
The U.S. Supreme Court on Monday agreed to hear appeals by units of Royal Dutch/Shell Group and Chevron Corp. in a case that might limit price-fixing lawsuits against joint ventures. The companies want the court to block a lawsuit accusing them of using two joint ventures -- which were formed in 1998 and merged the retail and refinery businesses of Shell Oil Co. and Texaco Inc. -- to illegally raise prices charged to service stations. The U.S.
BUSINESS
April 26, 2005 | From Bloomberg News
Royal Dutch/Shell Group, Europe's second-largest oil company, may lose its rights to a 2.4-billion-barrel oil field in Oman because of a disagreement with the government over how to develop the deposit, officials familiar with the talks said Monday. Westwood-based Occidental Petroleum Corp. and its partner, Abu Dhabi's state-owned Mubadala Development Co.
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