Royal

The Royal Dutch/Shell Group is planning to integrate itsworldwide trading activities under one banner in order to takeadvantage of energy trading opportunities. ‘Shell Trading’ will actas a singular worldwide network of Shell’s trading activities.

With plans to grow its power generation portfolio in the UnitedStates, InterGen, the power generation joint venture of RoyalDutch/Shell Group and Bechtel Enterprise Holdings Inc., closed adeal yesterday giving the international developer a 30% equityinterest in Houston-based Coral Energy, one of the largest naturalgas and power marketers in the country.

Natural gas futures exploded higher yesterday as traders weredealt a royal flush of bullish factors that included much belownormal temperatures on the horizon for much of the country and anew storm brewing in the Caribbean Sea. After opening at $2.98, theNovember contract moved higher, piercing resistance at $3.03 beforerelaxing to finish at $3.007, up 8.7 cents for the session.

Royal/Dutch Shell Group Chairman Mark Moody-Stuart said lastweek the company plans to sell 40% of it chemicals business andtake a related fourth quarter $4.5 billion after-tax charge. Hedescribed the move as the first step in “clearing out thecupboard,” which also will include selling multiple other assets inareas of high cost oil production, refining, and gas transportationand processing.