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Posts from ‘December, 2007’

THE AUSTRALIAN: Spotlight on BP investment, culture

Matthew Dalton, Dow Jones Newswires | January 01, 2008 AFTER several years of crippling disasters, oil giant BP is hoping to achieve operational health in 2008. But questions remain about whether lingering problems within the company’s sprawling US operations could undermine its turnaround. This year will be the first since 2004 that BP’s two largest […]

The Times: Need to know: January 1, 2008

Natural resources Petronas, the Malaysian state oil and gas firm, said it awarded a production sharing contract to Royal Dutch Shell and ConocoPhillips to explore natural gas in eastern Malaysia. Under the deal, Petronas’s exploration arm, Petronas Carigali, will take a 40 per cent stake in the contract to explore and produce natural gas from […]

knack.be: Middagupdate: Agfa-Gevaert doet het weer

31/12/2007 12:00 Op de Brusselse beurs valt er vandaag weinig te beleven. De deuren sluiten al om 14 uur en in afwachting noteert de BEL 20 in het rood. Agfa-Gevaert en Omega Pharma zijn momenteel de sterkste stijgers, terwijl in de financiële sector Dexia en Fortis wat moeten inbinden. Aegon en Merril Lynch hebben hun […]

DAILY EXPRESS: SHELL TO CUT THOUSANDS OF IT JOBS

COST-CUTTING: Plans were leaked in an email Monday December 31, 2007 OIL GIANT Royal Dutch Shell plans to shed thousands of jobs in the latest cost-cutting move by the industry. It is in talks on an outsourcing deal that would transfer a large part of its information technology division to three separate companies. The division […]

CNNMoney.com: Shell Moves With Multi-Pronged Rejig To Tackle Profit Challenge

December 31, 2007: 09:38 AM EST LONDON -(Dow Jones)- Royal Dutch Shell PLC (RDSB.LN) in 2008 is due to finalize elements of a multi-pronged reorganization, paralleling a similar move by its rival BP PLC (BP), as the side effects of sky high oil prices challenge oil majors’ profits instead of boosting them. The changes include […]

CNNMoney.com: Shell Confirms Staff Cuts In Finance Functions

December 31, 2007: 10:29 AM EST LONDON -(Dow Jones)- A Royal Dutch Shell PLC (RDSB.LN) spokesman Monday said the company is cutting headcount in its finance department, confirming a Dow Jones Newswires report last week. “We are reducing the number of staff in selected finance functions, and expanding the use of shared services centers where […]

The Herald: Shell employees fear more job cuts

December 31 2007 Fears are growing that oil giant Shell is preparing to shed around 3200 jobs in the latest cost-cutting move by the industry. The company has told staff that it is planning to outsource “a substantial part” of its IT infrastructure services division, believed to comprise a total of 3600 staff. Detailed consultations […]

Nasdaq.com: UPDATE: Shell May Cut Jobs At Finance Department – Source

   (Adds details, possible IT outsourcing.)    By Benoit Faucon    Of DOW JONES NEWSWIRES LONDON -(Dow Jones)- Royal Dutch Shell PLC (RDSB.LN) may eliminate a significant number of positions at its finance department in an effort to streamline its organization, a person familiar with the matter said last week. Separately, Shell also confirmed it […]

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Daily Mail: Shell to axe 3,200 jobs

31 December 2007, 9:41am A chill wind is blowing through the corridors of Royal Dutch Shell as the oil titan gears up for an aggressive cost-cutting exercise. Some 3,200 positions could be outsourced to external providers as the Anglo-Dutch firm slashes its information technology budget, according to an email from a Shell staffer disclosed by […]

Reuters: UPDATE 1-Petronas, Shell, Conoco in Malaysia gas deal

Mon Dec 31, 2007 2:17am EST  (Adds details) KUALA LUMPUR, Dec 31 (Reuters) – Malaysian state oil and gas firm Petronas said on Monday it awarded a production sharing contract to Royal Dutch Shell (RDSa.L: Quote, Profile, Research) and ConocoPhillips (COP.N: Quote, Profile, Research) to explore natural gas in eastern Malaysia. Under the deal, Petronas’s […]

Business Standard (India): Shell likely to cut 3,600 IT jobs: Report

Bloomberg / London December 31, 2007   Royal Dutch Shell Plc may cut as many as 3,600 staff in its information-technology division and hire other companies for the work, the Sunday Telegraph reported today without saying where it got the information.    London-based Shell decided to contract out most of its IT operations, nominating Electronic […]

MarketWatch: Shell to shed thousands of IT, finance jobs to cut costs: report

By Adam Smallman Last update: 7:32 p.m. EST Dec. 30, 2007 LONDON (MarketWatch) — Royal Dutch Shell is to shed thousands of jobs to cut costs and simplify its structure, and one of the largest-ever outsourcing deals may be struck in the next couple of months, the Daily Telegraph reported late Saturday, citing information published […]

Financial Times: Shell looks to outsource about 3,200 IT jobs

By Rebecca Bream Published: December 30 2007 22:05 | Last updated: December 30 2007 22:05 Royal Dutch Shell is expected to outsource the bulk of its information technology division next year, a move that could affect about 3,200 jobs. The oil group aims to make pre-tax cost savings of about $500m-a-year (£250m) through streamlining its […]

The Guardian: Shell to outsource 3,200 IT jobs

Julia Kollewe Monday December 31 2007 Royal Dutch Shell plans to outsource thousands of IT jobs in a drive to slash costs and simplify its structure, following in the footsteps of its arch-rival BP. Shell’s information technology division will bear the brunt of the changes with 3,200 staff thought likely to be affected by a […]

The Independent: Shell prepares to cut 3,200 jobs

By Sean O’Grady Published: 31 December 2007 The oil major Shell is thought to be preparing to shed around 3,200 jobs, mostly in its information technology division. As with many other public and private sector concerns, the plan is to hive the jobs off to external specialist contractors. The company has informed staff it is […]

The Times: Need to know

31 December 2007 Natural resources Royal Dutch Shell, the Anglo-Dutch oil giant, is believed to be preparing to shed about 3,200 jobs in the latest cost-cutting move by the industry. The company has told staff that it is planning to outsource “a substantial part” of its IT infrastructure services division, which is believed to comprise […]

CRAPPY NEW YEAR FOR SHELL EMPLOYEES: MASSIVE JOB CUTS

The Times: A word in your Shell-like — it’s all gibberish 5 JANUARY 2007 THE WALL STREET JOURNAL: Shell finalizes planned shake-up 2 JANUARY 2008 CNN: Shell Moves With Multi-Pronged Rejig To Tackle Profit Challenge 31 DEC 07 Daily Mail: Shell to axe 3,200 jobs 31 DECEMBER 2007 Financial Times: Shell looks to outsource about 3,200 […]

fd.nl: Shell schrapt mogelijk duizenden ict-banen

Financieele Dagblad Shell gaat een substantieel deel van haar ict uitbesteden om kosten te besparen. Door de maatregel komen mogelijk duizenden banen op de tocht te staan. Een woordvoerster van Shell bevestigt dat het bedrijf momenteel onderhandelingen voert met drie outsource-partijen. In maart 2008 worden de contracten getekend. Een werknemer van Shell verklaarde tegenover RoyalDutchShellPlc.com, […]

Cash.be: Duizenden banen op de helling bij Shell

30 december 2007 (Belga) De Engels-Nederlandse oliegigant Shell is van plan duizenden werknemers te ontslaan. Het bedrijf zou een belangrijk deel van zijn informaticadiensten uitbesteden. Dat blijkt uit interne documenten die zondag zijn gelekt op internet. In een mail van 19 december spreekt Goh Swee Chen, de verantwoordelijke voor de informaticainfrastructuur van de oliegroep, van […]

Manchester Evening News: Fears for Shell

Manchester Evening News: Fears for Shell 30/12/2007 THERE were fears today that oil giant Shell was preparing to shed around 3,200 jobs in the latest cost-cutting move by the industry. The company has told staff that it is planning to outsource “a substantial part” of its IT infrastructure services division, believed to comprise a total […]

Financial Times: FSA fines for 2007 lowest in six years: in 2004 Royal Dutch Shell was fined £17m for market abuse

By Elaine Moore Published: December 30 2007 21:43 | Last updated: December 30 2007 21:43 The Financial Services Authority levied less in fines this year than in the past six years, in spite of claiming that it intended to take a more robust approach to policing the financial services industry. Fines totalled £5.3m in 2007, […]

MSN News (Press Association Report): Fears for jobs at oil giant Shell

MSN News: Fears for jobs at oil giant Shell pa.press.net – 30.12.2007 15:26 There are fears that oil giant Shell is preparing to shed around 3,200 jobs in the latest cost-cutting move by the industry. The company has told staff it is planning to outsource “a substantial part” of its IT infrastructure services division, believed […]

Hemscott: Royal Dutch Shell to shed thousands of jobs to cut costs – report

30 December 2007 LONDON (Thomson Financial) – Royal Dutch Shell is to shed thousands of jobs in a bid to cut costs and simplify its structure, the Sunday Telegraph reported. Shell is looking to agree one of the largest-ever outsourcing deals in the next couple of months and plans to reorganise other departments including finance […]

Shell Job Cuts: What happened in the early 90’s was a bloodbath… comment by former Shell employee – James Mc Quillan

December 30th, 2007 Big Mamma seems to be trying to rewrite history. This will not be the biggest reduction in staff. What happened in the early 90’s was a bloodbath that left thousands of “former” employees very disgruntled to say the least. I made it thru that only to be the victim of a reduction […]

BBC News: Shell mulling role of IT workers

Shell profits have been under pressure in recent quarters Sunday, 30 December 2007, 14:41 GMT  Anglo-Dutch oil company Shell has said it is considering the position of a number of workers as part of a long-running review of its operations. The comments come after reports that the company was looking at offshoring as many as […]

THOUSANDS OF JOBS TO BE CUT AT SHELL

By John Donovan On 19 December 2007 we received an email from a Shell insider attaching an email sent on behalf of a Shell IT Vice President earlier the same day. The leak led to further correspondence with the same insider and to related correspondence with Michael Brandjes, the Company Secretary and General Counsel Corporate […]

The Sunday Telegraph: Shell plans to outsource 3,600 jobs

By Russell Hotten Last Updated: 11:21pm GMT 29/12/2007 Royal Dutch Shell is to shed thousands of jobs as Europe’s largest oil company joins rival BP in trying to cut costs and simplify its structure. Shell is looking to agree one of the largest ever outsourcing deals in the next couple of months, and plans to […]

Blunt comments from Shell insiders on the thousands of jobs being slashed at Shell

Published 29 December 2007 FIRST EMAIL John I write this note to you as a very concerned ‘insider’. It appears Shell has not learned from the past and now is embarking on yet another stepchange (note very carefully the word change, not improvement) by getting rid of the bulk of  IT people. They are also […]

Convenience Store News: Shell Chief Responds to New Energy Bill

  December 29, 2007 DES MOINES, Iowa — The new federal energy bill may be a big step in the right direction for global warming, but it won’t ease the current supply worries that have led to high gas prices, Shell Oil chief John Hofmeister told Iowans recently. “Nobody seems to focus on the short-term,” […]

Gulf-Times: Bhutto assassination ups risks in Pakistan energy investment

Published: Saturday, 29 December, 2007, 02:17 AM Doha Time  By Jun Yang and Gurdeep Singh SINGAPORE: Major Pakistan oil, gas and power projects are clearly at risk in the wake of former Prime Minister Benazir Bhutto’s assassination. Analysts warn prolonged instability could jeopardise the country’s ability to meet future energy needs. Foreign companies such as […]

Pincher Creek Echo (Canada): Shell presents optimization plans

By Angela Hill Friday December 28, 2007 The Council of the Municipal District of Pincher Creek was all ears on Dec. 11, when Kevin May presented Shell Waterton’s optimization plan. Shell’s plan is to transform its Waterton gas plant south of Pincher Creek into a smaller, more efficient facility. “By reducing the amount of fuel […]

The Times: Gazprom takes aim at Exxon in battle against foreign ownership

December 28, 2007 Carl Mortished, World Business Editor Gazprom has renewed its campaign against foreign ownership of Russian gas resources with an attack on ExxonMobil’s Sakhalin-1 project in Eastern Siberia, the last remaining Russian gas venture under foreign control. ExxonMobil’s plan to sell gas to China was criticised heavily by Alexander Ananenkov, Gazprom’s deputy chairman. […]

Daily Telegraph: Shell delays decision on Iran project again

By Russell Hotten, Industry Editor Last Updated: 10:23pm GMT 28/12/2007 Royal Dutch Shell has again delayed a decision on whether to press ahead with controversial investments in Iran, as Europe’s largest oil and gas company weighs up the increasing costs of the project and political opposition in the United States. The Anglo-Dutch giant will not […]

The Daily Journal (Illinois): Editorial: Lessons from Shell

12/28/2007, 10:52 am News Note: Shell Oil settles pipeline spill case from 1988 for $46 million. Twenty million will go to build new water lines in Limestone Township. Another $26 million will compensate 1,500 residents. If you follow the timeline, it goes like this. It took Shell six years to begin providing pure water for […]

The Moscow Times: Gazprom Seen in Talks on ExxonMobil’s Sakhalin-1

Friday, December 28, 2007. Issue 3815. Page 5. Combined Reports Gazprom this year held talks to join ExxonMobil’s Sakhalin-1 oil-and-gas project, an unidentified person close to the gas giant said. Gazprom, which took control of Shell’s Sakhalin-2 project last year, now wants a stake in Exxon’s venture, Vedomosti reported Thursday. Gazprom held talks with both […]

The Wall Street Journal: Kazakhstan, Oil Firms May Be Near Deal on Kashagan Field

GABRIEL KAHN December 28, 2007 2:27 p.m. ROME—The government of Kazakhstan has signaled what could be a breakthrough in its long-running standoff with foreign oil companies developing the massive Kashagan oil field in the northern Caspian Sea. In a Dec. 26 letter viewed by The Wall Street Journal, Kazakh President Narsultan Nazarbayev, has called the […]

Financial Times: Alaskan oil tax rise sparks BP review

By Dino Mahtani Published: December 28 2007 02:00 | Last updated: December 28 2007 02:00 BP, Europe’s second-largest oil company, will review its investment plans in the US state of Alaska following legislation to increase taxes on oil producers there. The move by the state government is a blow to all oil companies doing business […]

daily-journal.com (Illinois): Pipeline spill settlement claim forms mailed

12/27/2007, 3:01 pm By Jon Krenek [email protected] 815-937-3370 If you are one of 1,500 Limestone Township property owners, check the mail for an envelope marked with the word “important” in red ink. It may look like junk mail, but it’s not. Forms were mailed this week, as well as instructions, for claiming the portion of […]

The Wall Street Journal: Italy’s Eni Raises Its U.S. Profile

Oil Firm’s Investment Aims at Stability To Offset Less-Reliable Projects By JOHN M. BIERS December 28, 2007; Page A8 Italian oil titan Eni SpA, which has benefited from its ability to invest and expand in countries off-limits to American rivals, this year sharply raised its exposure on the home turf of Chevron Corp. and Exxon […]

Financial Times: Microscopic alternative to biofuels

By Cristina Jimenez Published: Friday December 28 2007 Oil from algae, the microscopic plants that produce a green covering on the surfaces of ponds and neglected outdoor swimming pools, may soon be filling diesel pumps. As crude oil has moved towards $100 (€70, £50) a barrel and sustainable alternatives are sought in a bid to […]

AP: Oil Rises on Inventory Shortfalls

Thursday December 27, 3:31 pm ET By John Wilen, AP Business Writer  Oil Prices Jump After Government Reports Crude and Heating Oil Supplies Fell Last Week NEW YORK (AP) — Oil futures rose Thursday after the government reported larger-than-expected declines in crude and heating oil inventories. In its weekly inventory report, the Energy Department’s Energy […]

The Times: Natural resources

ENRC, the London-listed Kazakh mining and metals group, said that it plans to offer shares on the Kazakh stock exchange in 2008. ENRC is the world’s sixth-biggest iron ore exporter by volume and produces about 16 per cent of Kazakhstan’s electricity. Regency Mines, which is quoted on London’s junior Alternative Investment Market and focuses on […]

The Times: Shell beds into Chinese market with 30-year coal methane production deal

December 28, 2007 Carl Mortished, World Business Editor Shell is investing in Chinese coal, buying a controlling stake in a coalbed methane project, an alternative resource that China’s Government is keen to promote as it seeks to diversify its country’s energy supplies. Shell is buying an interest in a 30-year production-sharing contract that covers 1,015 […]

Reuters: Gazprom clears record $20 bln capex plan for 2008

Thu Dec 27, 2007 12:56pm EST  MOSCOW, Dec 27 (Reuters) – Russia’s gas export monopoly Gazprom (GAZP.MM: Quote, Profile, Research) will increase capital investment by 43 percent in 2008 to a record level of almost $20 billion as it speeds up development of Arctic fields and new pipelines. Gazprom has prioritised equity investment over capital […]

Guardian Unlimited: Shell taps into coal methane in China

The Royal Dutch Shell headquarters in The Hague. Photo: Robin Utrecht/EPA Terry Macalister , Thursday December 27 2007  Shell has expanded its interests in China by taking control of a pioneering project to meet some of the country’s burgeoning demand for energy using methane gas from underground coal seams. The Anglo-Dutch group has bought a […]

Statement by Royal Dutch Shell Plc: Shell joins China coalbed methane project

27 Dec 2007  Shell China Exploration and Production Company Limited has acquired a 55% equity interest in a coalbed methane venture in Shanxi Province and will take over as operator.   China’s Ministry of Commerce recently approved an agreement for Shell to acquire Verona Development Corporation’s majority equity position in a 30-year production sharing contract covering […]

Forbes: Gazprom Takes On Exxon

Vidya Ram, 12.27.07, 7:45 AM ET LONDON – If the foreign operators of Russia’s Sakhalin-1 natural gas field weren’t concerned enough after BP was ousted from a major venture over the summer, then Thursday’s comments by a senior Gazprom executive should certainly have them reaching for the vodka. Gazprom Deputy Chairman Alexander Ananenkov lambasted the […]

Gulf-Times: Sudden Oman futures spike puts pricing risks in focus

Published: Thursday, 27 December, 2007, 03:37 AM Doha Time   SINGAPORE: Oman crude oil futures on the Dubai Mercantile Exchange surged last week, regardless of market fundamentals and movements in other benchmark crude oil futures, which highlights old risks involved in the pricing of Middle East crude oil. The unusual movements on DME show how […]

Financial Times: Managers search for a grain of good sense

EXTRACT: The authors quote approvingly the candid thoughts of an ex-CEO of Shell, Lo van Wachem: “The actual revenue I realise today is grossly dependent on the energy reserves acquired and explored by the two CEOs before me, and CEOs two generations after me will reap the rewards of my efforts.” THE ARTICLE By Stefan […]

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