THE TIMES (UK): Need to Know: Global Business Briefing: Natural Resources: “Royal Dutch/Shell, the Anglo-Dutch oil group, has signed an exploration deal with Naftogaz of Ukraine to explore 30,000 sq km within the Dniepr-Donets basin” (ShellNews.net) 11 May 05

By Neelam Verjee and Joe Bolger

May 11, 2005

Natural Resources

Down 0.4%

Royal Dutch/Shell, the Anglo-Dutch oil group, has signed an exploration deal with Naftogaz of Ukraine to explore 30,000 sq km within the Dniepr-Donets basin.

BG Group, which said that first-quarter pre-tax profits were up 30 per cent to £438 million, accelerated the development of its Egyptian liquefied natural gas business after confirming that the first cargo shipments should be three months ahead of schedule.

Harmony Gold Mining is free to pursue its hostile $4.2 billion (£2.2 billion) takeover of Gold Fields, its larger rival, after South Africa’s competition tribunal approved the bid.

Afren, the Africa-focused oil and gas company, is expected to appoint Brian O’Cathain, formerly of Tullow Oil, as chief executive and Osman Shahenshah as chief financial officer. It will also name Peter Bingham as non-executive director and chairman of the audit committee.

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