News and information on Royal Dutch Shell Plc.
Jan. 27 (Bloomberg) — Royal Dutch Shell Plc sold a cargo of crude stored off the U.K. and a vessel hired by Citigroup Inc.’s Phibro LLC left its anchorage in Scotland for the U.S. as the incentive to keep oil in tankers disappears.
Click to continue reading “Shell Sells Oil Cargo, Phibro Tanker Leaves as Contango Shrinks”
A law passed by the legislature in 2007 (Protecting Florida’s Investment Act, PFIA) required the state pension fund to sell off any assets in companies that do business with countries on the US list of state sponsors of terrorism – principally Iran and Sudan. So far the state pension fund has sold more than $1.15 billion in probited companies. Among the divestments were several major oil and gas companies, including Brazil’s Petrobras ($206 million), Total of France ($214 million) and Royal Dutch Shell ($215 million).
The oil spill is believed to have occurred on Sunday after a tanker left the liquefied natural gas plant which is still under construction. The plant is owned by Sakhalin Energy which is the operator and investor for the $20 billion Sakhalin II project.
Conoco scaled back $2.8bn in capital spending over last year, and reported a $34bn writedown. More details of its financial health will come on Wednesday when it reports earnings, the same day as Royal Dutch Shell. Some analysts warn Royal Dutch Shell will report its largest quarterly fall in profits for a decade because of the oil price fall.
Click to continue reading “Gloomy ConocoPhillips data set stage for severe cutbacks among rivals”
Alexei Miller, chief executive of Gazprom, confidently asserted that within a decade the Kremlin-controlled gas monopoly he headed would be the world’s largest energy company. What a difference a credit crisis makes.
Click to continue reading “National groups bear brunt of change in fortunes”
Recently, speculation has grown about whether ExxonMobil will make an acquisition. Among the rumored targets are Britain’s BG Group (BG.U.K.) for its natural-gas assets. There has even been talk of a bid for all or part of Royal Dutch Shell, a deal that would face regulatory hurdles.
Click to continue reading “More speculation over Exxon bid for all or part of Royal Dutch Shell”
Shell declined to comment on the possibility that job cuts may be announced when the group reports its full-year results on Thursday.
Click to continue reading “Shell profits to tank as oil price nears $40 a barrel”
Analysts believe the big international oil companies will be forced to curb generous dividend rises, rein in soaring investment spending and may even cut back on jobs, after four years of complaining of difficulties in finding staff.
Click to continue reading “Shell and BP profits could be hit by crude collapse”
“Earnings will be dismal. They’re all under pressure to cut costs. The sharp drop in oil and gas prices has tremendous far-reaching ramifications on the landscape,” Gheit said.
Speculation has been growing as to whether Exxon will make an acquisition, possibly for BG Group or for all or part of Royal Dutch Shell.
Click to continue reading “Speculation on Exxon Acquisition of Royal Dutch Shell growing”
: It appears that Voser finally got fed up with Mr Overpromise/Underdelivery. Despite all the nice words about him, he is clearly kicked out. Plenty of sycophants around him are now fearing for their jobs and positioning themselves whom to kow-tow now. This bearded fellow wasted his great brain on very small details and he was unable to delegate. I think his only real good project was the SLIM project. This was many moons ago and launched him to the top jobs. And there he failed as frequently and eloquently pointed out on the Donovan site. Big brain, a micromanager on par with the pointy haired boss in Dilbert, a vicious and vindictive attitude to those that were of no use to him or that might talk back. In summary: Good riddance and now the legal system of Scotland can go after him. But I doubt they will.
: What goes around comes around.... The announcement of Brinded has long been anticipated. We now wait for the next much smaller announcement.... Tom Purves to retire..... This will make our day when that moment happens. Shell never deals with the issue of bad leadership until it is too late and the havoc has been wreaked.... However, as we say in the US, Every dog has its day..... and today that was Malcolm.
: So early retirement then after all that ....... REPLY BY JOHN D. You are still playing a point scoring game. You seem to forget that the avoidable deaths of Shell offshore workers on Brent Bravo is at the heart of this matter. The deaths occurred after a safety audit led by Bill Campbell exposed a shambolic, illegal and shameful safety regime on Brent Bravo. They occurred after Shell senior Expro management had promised Bill that Shell would bring an end to the "Touch F*** All" culture and the falsification of safety records. The explosion and record breaking fine provide proof that the promises were not kept. There is NO commercial aspect to this matter as far as Mr Campbell is concerned. He is driven solely by a fear of an even worse event due to the same policy by Shell of putting production and profits before the safety of offshore workers. Please give Bill some credit for his integrity and for his long campaign, which has rightly received cross-party support from many MP's.
: Agent provocateur indeed!! Never been called that before, and I am most certainly not in league with Shell in any way! I again reiterate my point : was Campbell fired or given early retirement from Shell and thereby lies his grudge or did he reach full retirement age in the company? An honest answer might convince many that his continuous aggressiveness against Shell is genuine or just an ongoing grudge. This is not a "slanging match" merely a point of clarification. REPLY BY JOHN DONOVAN: Mr Campbell has made it clear that he does not wish to get into discussion with someone making insulting comments while hiding behind an alias. With regards to his comment that you may be an agent provocateur, perhaps he gained that impression from checking your history of postings. Just so there is no misunderstanding, we welcome contributors who provide a counter-balance to negative postings about Shell. I have provided some links to further information about the Brent Bravo scandal. Despite all of the promises by Shell senior management about safety, which including appointing a safety Czar, its track record remains atrocious. Years after the Brent Bravo debacle, it was revealed that the lifeboats for a Shell North Sea platform were not seaworthy. You could not make it up. “Lifeboats trouble at Brent field” published on 14 March 2008, UpstreamOnline revealed “SHELL’s safety record on its Brent Bravo platform in the UK Northern North Sea is once again under scrutiny after the discovery of technical problems with two lifeboats on the installation that resulted in both of them being removed from service.” Jake Molloy, general secretary of the Offshore Industry Liaison Committee was quoted in the article by Christopher Hopson as claiming “If they had loaded up this particular lifeboat, the chances are it could have been launched into the sea in an uncontrolled fashion which would have caused death or injury as it was held in place by corrosion and not by the designed system”. The article said that problems had been found with a second lifeboat on the Brent Bravo platform. It also reported that a lifeboat had launched itself into the sea from Shell’s Tern platform because the brakes and clutches were “dysfunctional” and had damaged the launch mechanism off the platform. Shell confirmed problems had been discovered with two lifeboats on Brent Bravo during “routine maintenance”. Shell was quoted as stating that it viewed the matter seriously and had “mobilised an investigation team on the platform”. BILL CAMPBELL EMAIL SENT TO MEMBERS OF THE UK HOUSES OF PARLIAMENT ROYAL DUTCH SHELL SAFETY CONCERNS
: LondonLad: In many cases "Reaching Retirement age" in Shell simply means being unable to find a position outside Shell -nowadays the most competent people generally move on long before reaching retirement age and pursue a second career elsewhere.
: To : an observer of Shell, you state "It is commonly known that a great many employees of Shell Expro are freemasons". Where did you get this "fact" from - smoking whacky backy?? I doubt very much that a great many are indeed freemasons. Even if they are (wich I seriously doubt), so what? Let's face it they are a society that provide one of the largest contributions to charities in the UK. I think you very clearly have an axe to grind against Shell. In that context why does Campbell have such a chip on his shoulder over Shell? Was he sacked for some reason? Did he actually reach his retirement age in Shell? Would be nice to know so that we can believe more that his rants are genuine problems he has with Shell rather than caused by some hidden grudge.
: GTW, I know you are right, TP and others will get their due. What is painful is that those whose lives have been changed and whose spirits have been destroyed because of his actions, will not be compensated. Tom is not the only one taking credit for this new cruel process of forced ranking, by claiming credit for what market demand has meant for profits. There are promotions taking place right now because credit is claimed by those executing Tom's plan for performance 'refirings'. I worked in manufacturing sites where management and performance was a joke, and profits were above forecast. It's always been market demand and the hard work of the folks on the ground that make manufacturing successful, Tom is not a pioneer in taking undue credit for local successes, but he has certainly been the cruelest!
: I have no proof nor will I ever find that proof, but this reprehensible conduct of the legal authorities smells to high heaven of masonic lodges. It is commonly known that a great many employees of Shell Expro are freemasons. The police forces all over the world are well presented in the various lodges. I would not be surprised if Brinded himself is a member. Bill Campbell is a very courageous man taking on these evil forces. We in Shell all knew him to be a completely honest and competent Maintenance manager and HSE auditor. But he loses against all the parasites and sycophants whose sole job is to protect the directors. And then live well on the spoils of their abhorrent activities. Top marks for the Donovans who keep this festering sore in the spotlight. To some it maybe a lot of repeating old stories, but those that want to hide and bury their bad actions know that time is on their side. And Shell has deep pockets and knows how to procrastinate.
: John, there is no issue with my post. This is the same GTW that has been providing updates for some time on the ill fated project CEP and the ill fated Tom Purves, both of which should be going fading into the background this year as old worn out news.
: I retract my previous statement. COMMENT BY JOHN DONOVAN: WE HAVE REASON TO SUSPECT THAT THIS POSTING IS NOT IN FACT FROM THE PARTY WHO USES THE ALIAS "GOLDENTRIANGLE WATCHMAN ON THIS BLOG, BUT IS FROM AN IMPOSTER.
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