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Posts from ‘January, 2008’

The Times: Bottom line not the only oil tale at Shell

February 1, 2008 Patrick Hosking: Business Commentary Some people are never satisfied. Shell may have made greater annual profits last year than any other European company ever, but as one City sceptic remarked yesterday, one should expect nothing less from a company that has over the past decade enjoyed a ninefold increase in the selling […]

The Times: Shell’s record $27bn profits invite calls for windfall tax

February 1, 2008 Robin Pagnamenta, Energy and Environment Editor Royal Dutch Shell reported annual profits of $27.6 billion (£13.9 billion) yesterday, smashing European company records and prompting calls for a windfall tax on “obscene” oil profits. But the record results, which were boosted by surging global crude prices, masked uncomfortable truths about the company’s lacklustre […]

Forbes: Shell Cracking Under Cost Pressure

Lionel Laurent, 01.31.08, 8:50 AM ET LONDON – Oil prices may be booming, but the strain of higher costs is beginning to show for Royal Dutch Shell. The Anglo-Dutch oil and gas stalwart posted a 60.4% increase in fourth-quarter profits Thursday, to $8.5 billion, from $5.3 billion, but most of the gain came from the […]

U.S.New & World Report: Shell Rakes in $8.5 Billion in Three Months

By Marianne Lavelle Posted January 31, 2008 Royal Dutch Shell, the world’s second-largest publicly traded oil company, today reported net income up 60 percent last quarter to a record $8.47 billion, thanks to the same rising crude oil prices that most observers expect will lift the profits of Exxon Mobil and Chevron tomorrow to nearly […]

Financial Times: Open season on oil companies

By Andrew Hill, Mure Dickie and Richard Milne Published: January 31 2008 18:08 | Last updated: January 31 2008 18:08 “Obscene” profits and calls for “windfall taxes”: it’s oil company reporting season again. Royal Dutch Shell formally launched the 2007 full-year results festival in the UK on Thursday by recording the largest profit ever reported […]

Reuters: Shell flags lower oil reserve additions in 2007

Thu Jan 31, 2008 9:37am GMT By Tom Bergin LONDON (Reuters) – Royal Dutch Shell added “at least 1 billion barrels” of new oil and gas resources in 2007, Chief Executive Jeroen van der Veer said on Thursday, around half the level the oil giant flagged last year. Van der Veer told reporters on a […]

The Guardian: Shell posts record European profit but doubts linger

Reuters Thursday January 31 2008 (Adds closing shares, share comparison) By Tom Bergin LONDON, Jan 31 (Reuters) – Royal Dutch Shell notched up the biggest ever profit of a European company of $27.6 billion in 2007, but lower production and indications of disappointing reserves suggest future earnings growth will rely on oil price rises. The […]

The Guardian: Security problems force Shell to scale back in Nigeria

Terry Macalister Thursday January 31 2008 Shell has started to “streamline” its operations in the Delta region of Nigeria in what appears to be a final realisation that it is fighting a losing battle against militants in the region. The company announced today it had taken a $716m (£359m) charge in its fourth quarter accounts […] Nigeria: Shell Job Cut Will Hurt Economy, Says Sylvia

This Day (Lagos) 31 January 2008 Chuks Okocha Abuja The Bayelsa State Governor, Timipre Sylva has appealed to the Federal Government to intervene in the planned job cut by the Shell Petroleum Development Company (SPDC) as it would have a spiral negative effect on the Nigerian economy. Speaking with newsmen in Abuja, Timi Sylva also […]

An appeal for Shell shareholder support

The Sierra Club (Washington, DC – …is planning to bring a shareholders’ resolution to Royal Dutch Shell’s 20 May 2008 AGM. The resolution focuses on risks to shareholder value from Shell’s operating in Alaska’s Beaufort and Chukchi seas. Sierra’s concerns include the company’s failing to report on possible impact to value from operating in the […]

BBC News: Q&A: Windfall tax on Shell

Thursday, 31 January 2008, 12:04 GMT  The Unite union has called for the government to impose a windfall tax on the profits of oil companies after Royal Dutch Shell reported record profits for a UK-listed company. “Shell shareholders are doing very nicely whilst the rest of us, the stakeholders, are paying the price and struggling,” […]

Daily Telegraph: Lawyers close in on Shell chiefs

By Russell Hotten 31/01/2008 Front page of Daily Telegraph Business Section The accounting scandal that forced resignations and fines at Royal Dutch Shell in 2004 looks like returning to haunt the company, with lawyers pursuing legal action on behalf of US shareholders about to step up their campaign for compensation. Following years of wrangling, key […]

The Guardian: Shell’s record profits branded ‘obscene’

Terry Macalister 8.15am update: Thursday January 31 2008 Shell was accused of making “obscene” profits at a time when pensioners, motorists and industry are struggling with higher energy prices when it unveiled annual earnings of $27.6bn (£13.9bn). The oil major has made British corporate history with the record figures, which are equivalent to more than […]

The Guardian: Shell’s £14bn profits branded ‘obscene’ by Unite

Fiona Walsh, business editor, Thursday January 31 2008 Oil giant Royal Dutch Shell is facing renewed accusations of profiteering after reporting record profits of $27.6bn (£13.9bn) – the highest-ever figure reported by a British company. The huge profits – equivalent to more than £1.5m an hour and a 9% increase on last year – […]

Daily Mail: Shell’s ‘obscene’ £13.9billion profit is biggest ever by British company

Last updated at 07:14am on 31st January 2008 Record profit: Shell earnings soar as motorists struggle with high petrol prices Shell has announced earnings of £13.9billion today – the biggest-ever profit by a British company. The oil giant has reported that profits have risen 9 per cent since last year, pushed up amid fears of […]

Times Online: Shell full year profits hit record £13.9 billion

January 31, 2008 Shell’s numbers beat City expectations by a shade as lower output levels were offset by $100 barrel oil Angela Jameson Concerns over the excessive profits made by oil companies were reignited today when Shell, the Anglo-Dutch giant, revealed a 9 per cent leap in full year profits to a new record of […]

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