Financial: Replacing reserves an aim not a forecast, says Shell
TERRY MACALISTER The Guardian – United Kingdom; May 05, 2006
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Shell's attempt to rebuild its reputation following the fiasco two years ago when it mis-stated its reserves suffered a setback yesterday when the oil group admitted it could miss its target of finding enough new oil and gas to replace all of its resources each year.read more
Lucy Farndon Daily Mail – London: KRTBN; May 05, 2006
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Shell beat expectations and surpassed its rival BP with first-quarter profits of GBP3.3bn, up 12pc,but enthusiasm was dampened by concerns about its oil reserves.read more
John Bowker Deputy City Editor The Scotsman – United Kingdom; May 05, 2006
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OIL giant Shell has raised the prospects for more share buy-backs this year on the back of the continually soaring oil price, but it has scrapped a previously key target on future reserves.read more
Michael Harrison Business Editor The Independent – United Kingdom; May 05, 2006
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Royal Dutch Shell has abandoned its target of replacing at least 100 per cent of production with new reserves – one of the solemn commitments it made to placate the City after the reserves scandal two years ago, which led to three board members being sacked and the biggest shake-up of the company in a century.read more
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SHELL achieved a larger than expected rise in first quarter profit, thanks partly to strong earnings growth in liquefied natural gas, writes Tony Gray.read more
Shell fears over reserves targetBy Thomas Catan in London Published: May 5 2006 03:00 | Last updated: May 5 2006 03:00
Royal Dutch Shell has said it may miss its target of fully replacing oil and gas it pumps in coming years, adding to concerns over its future prospects.
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Since downgrading its energy reserves by around a third two years ago, the Anglo-Dutch energy group has been struggling to replace its oil and gas stocks. Investors see the reserve replacement ratio as a key indicator of future value of oil companies.
Shell had promised to raise its reserve replacement ratio between 2004 and 2008 to 100 per cent, from an industry-lagging 72 per cent average over the past five years. But Jeroen van der Veer, chief executive, admitted yesterday the company may not achieve that, citing the tight market for materials and contractors to build new projects.read more
Royal Dutch ShellPublished: May 5 2006 03:00 | Last updated: May 5 2006 03:00
Royal Dutch Shell used to exaggerate its reserves. Now it admits it may not be able to replace them at the promised rate. This is progress of a sort, but disappointing nonetheless.
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Having cleared the decks after the 2004 scandal, Shell was at pains to point out that the hydrocarbons were still there and would be re-booked in the future.
The target of 100 per cent reserve replacement on average from 2004-08 was part of that promise. Investors are still waiting for a rebound in reserves.
To be fair, Shell's rationalisations are sound. It makes sense, for example, to delay deep-water projects when mobile rig prices are at a record high, but expected to fall as supply increases. Securities and Exchange Commission reserve definitions are arbitrary and Shell has unconventional oil reserves – such as oil sands – to fill the gap. Production targets, therefore, have been reiterated for 2009.read more
MOSCOW — Tarred as a tool in the Kremlin's drive for international influence, OAO Gazprom has politicians in Europe and the U.S. seeing red. But for many foreign investors, the Russian natural-gas giant brings to mind an altogether different color: green.
Gazprom stock is up about 70% this year after the Kremlin in January lifted restrictions that had prevented many foreigners from buying the 49% of the company that isn't government-owned. Gazprom's market value has overtaken Royal Dutch Shell PLC and BP PLC and, at $289 billion, is second only to Exxon Mobil Corp.'s among international energy companies. (It is the third-largest company in the world, behind Exxon and General Electric Co.)read more
LONDON — Royal Dutch Shell PLC said first-quarter earnings rose 3.3% thanks to higher oil prices, but it warned that soaring oil-field costs may force it to delay some oil and natural-gas developments.
Amid surging oil prices over the past three years, the world's largest publicly traded oil companies have struggled with cost inflation for equipment and contracting work. These higher costs have crimped still-healthy profits for several quarters. Now they are threatening entire projects, at least at Shell, as the Anglo-Dutch giant and others seek new sources to sate the world's increasing thirst for oil.read more
On Sakhalin, in easternmost Russia, Royal Dutch Shell is staking out an expensive oil and gas subsidiary. These pictures show what life is like
On Sakhalin Island in the Russian Far East, Royal Dutch Shell is building what is probably the world's most expensive oil and gas subsidiary. Shell's subsidiary, Sakhalin Energy, is developing two fields — one oil and one gas. The fields lie off the island's northeast coast. The oil and gas will be brought onshore and then transported by two buried pipelines to facilities at the island's southern end. There the oil and the gas will be supercooled into liquefied natural gas, loaded onto ships, and transported to world markets. The cost of the whole enterprise is now estimated at $20 billion. London Bureau Chief Stanley Reed visited Sakhalin Island recently. Here's a look at Shell's undertaking and moments from the lives of the local population of 530,000.read more
WASHINGTON (AP) — A House committee has asked Exxon Mobil Corp., for detailed information about a lucrative retirement package given to its former chairman, Lee Raymond, calling it an ''exorbitant payout'' when motorists are paying $3 a gallon for gasoline.
Raymond, who recently retired, was given a total package of nearly $400 million including salary, bonus, stock options and a one-year $1 million consulting arrangement.read more
AMSTERDAM, Netherlands (AP) — Royal Dutch Shell PLC and Total SA reported higher first-quarter profit Thursday on the back of high oil prices, rounding out a set of mostly solid results by the world's largest oil companies.
However, both European companies suffered from production woes that highlight the difficulties the industry faces in finding oil and bringing it to market — troubles that have driven prices to recent highs above $75 a barrel.read more
The oil companies Royal Dutch Shell and Total said yesterday that their first-quarter profits rose, beating analysts' forecasts, as near-record oil prices compensated for declining production and higher taxes.
Net income at Shell increased 3 percent, to $6.89 billion, or $1.05 a share, from $6.68 billion, or 99 cents a share, in the period a year earlier.
Earnings at Total, excluding changes in the value of a stake in the drug maker Sanofi-Aventis, gained 16 percent, to 3.38 billion euros ($4.27 billion), from 2.92 billion euros.read more
AMSTERDAM, Netherlands (AP) — Royal Dutch Shell PLC said Thursday its first-quarter profit rose 3.1 percent, boosted by the high price of oil, but the company said it may not meet earlier targets in restoring its proven oil reserves after its 2004 accounting scandal.
Net profit at the world's third-largest oil company came to $6.89 billion, up from $6.68 billion in the same quarter a year earlier. Sales rose 5.3 percent to $76.0 billion from $72.2 billion.read more
LONDON (Reuters) – Royal Dutch Shell Plc (RDSa.L) reported a bigger-than-expected rise in first-quarter profit on Thursday, paving the way for higher share buybacks, but the results were tempered by more bad news on the reserves front.
Shell said in a statement that strong oil prices lifted current cost of supply net income, which strips out changes in the value of inventories, 12 percent to $6.1 billion.read more
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON. EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
JOHN DONOVAN TV DOCUMENTARY INTERVIEW
SHELL EXECUTIVES AT THE CENTER OF A SCHEME TO STEAL $1.3 BILLION FROM NIGERIA’S PEOPLE
SHELL ADMITS DEALING WITH NIGERIAN MONEY LAUNDERER – BBC NEWS
SHELL, ENI AND NIGERIAN OFFICIALS IN OPL 245 CORRUPTION SCANDAL
INVESTIGATION OF OPL 245 NIGERIAN OIL CORRUPTION SCANDAL
DUTCH EARTHQUAKES CAUSED BY SHELL/EXXON
SHELL KILLS FOR OIL IN NIGERIA
SHELL LIED ABOUT CLEANING UP OIL IN NIGER DELTA
SHELL SPIES INFILTRATED NIGERIAN GOVERNMENT
LEGO DROPS SHELL OVER GREENPEACE OIL SPILL VIDEO
SHELL ARCTIC DRILLING ACCIDENTS
SHELL KNEW ABOUT CLIMATE CHANGE DECADES AGO
ROYAL DUTCH SHELL FOUNDER SIR HENRI DETERDING, NAZI FINANCIER
JOHN DONOVAN PROMOTIONAL GAMES FOR SHELL AND OTHER CLIENTS
Listen and read proof in audio and transcript form of Shell CEO Ben van Beurden’s cover-up tactics in the OPL 245 Nigerian corruption scandal. The instruction given by him in the covertly recorded call to CFO Simon Henry was at odds with Shell’s claimed core business principles. Cover-up and obstruction, instead of transparency and integrity, says Shell critic John Donovan
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Extremely slow broadband for 10 months, not fixed.I have had slow broadband well below the guaranteed speed for 10 months and Shell Energy have not been able to fix it.They have tried sending about 4 or 5 engineers but have not fixed the problem.Gurps, who I have been dealing with most recently, has been friendly and polite, alth… Read more
Extremely Slow Shell Broadband
The worst ever
I used shell broadband. It was by far the worst broadband provider ever! The internet did not work most days. I had their super fast broadband and it dropped out constantly. Watching a movie was awful with the constant buffering. Customer support was super slow. Now their going to charge me for the useless router which I have sent back.
Date of experience: 21 November 2023
By far the worst broadband provider ever!
The worst ever
I used shell broadband. It was by far the worst broadband provider ever! The internet did not work most days. I had their super fast broadband and it dropped out constantly. Watching a movie was awful with the constant buffering. Customer support was super slow. Now their going to charge me for the useless router which I have sent back.
I ordered shell energy broadband on nov 2. I was promised connection the following week. They initiated the direct debit. I called the following week and was told router would arrive on 13 and service would go live on 17. No further email or communication until 20 when I was told service would start on 30th. Spent 10 minutes waiting on phone line and spoke to a polite assistant who was absolutely useless in solving my problem. Avoid this unprofessional and chaotic… Read more
Shell Energy Broadband Service is Appalling
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EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
