THE TIMES (UK): Need to Know: Global Business Briefing: “Shell is sending drill rigs towards the Atlantic to try to counter dwindling North Sea oil and gas production.” (ShellNews.net) 13 Nov 04

Edited by Neelam Verjee and Tom RoundellNATURAL RESOURCES

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November 13, 2004

Shell is sending drill rigs towards the Atlantic to try to counter dwindling North Sea oil and gas production.

Gold Fields was forced to seek a new takeover defence adviser to combat Harmony Gold Mining’s hostile $8.1 billion (£4.36 billion) bid after Andisa Capital, the bank appointed because of the South African market regulator’s intervention, quit after three days.

TNK-BP, the Russian oil producer, has reportedly received a bill from the Russian tax authorities for $83 million in back tax for 2001, following an audit of at least five oil companies.