Lex (March 19) states “Royal Dutch Shell’s announcement yesterday of an $8.3bn hole in its pension fund is a sign of the times”. In fact Shell disclosed the underfunding quite clearly when it issued its 2008 results on January 29, though it was buried rather deep in the notes.
Posts from ‘March, 2009’
Theories of rational behaviour are facing crisis
Second, Shell is to spend an extra $5bn-$6bn on plugging its pension deficit. But Shell is nowhere near insolvent and its pension fund has decades to play with. The deficit figure may be interesting information for investors. Why it should require the diversion of much-needed cash flow right now is a different question.
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Rouble rebound
The reason might be termed the “trust gap”. Scared off by attacks on TNK-BP, Mechel and Royal Dutch Shell and by Moscow’s continuing foreign policy prickliness, investors are in no hurry to return. Rebuilding trust may take longer than returning Russia’s economy to growth.
Jorma Ollila: Champion of Nordic capitalism
Mr Ollila demonstrates his unflappable side when asked how Shell’s recent decision to stop investing in wind and solar energy and only focus on biofuels plays to its values of trying to address climate change. “It is a business portfolio decision, above all. Not everyone can be a jack of all trades. It is more about pragmatism,” he says.
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Shoppers need clear labels to put a stop to ‘greenwash’
A complaint against Shell, which ran a newspaper advert depicting its refinery chimneys emitting flowers, was upheld by the advertising watchdog. Friends of the Earth complained about the advert, which ran with the slogan: “Don’t throw anything anyway. There is no away.”
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Shell goes to paradise in search of cheap biofuel
Environmentalists fear that Shell’s efforts to go green could end up like Captain Cook on the shores of Kona – left to die in the surf.
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SHELL BRENT BRAVO SCANDAL: THE EVIDENCE ASSEMBLED BY BILL CAMPBELL: PLUS ASSOCIATED ARTICLES
FILE OF INFORMATION AND ARTICLES RELATING TO THE SHELL BRENT BRAVO SCANDAL INCLUDING EVIDENCE ASSEMBLED BY FORMER HSE GROUP AUDITOR OF SHELL INTERNATIONAL, MR BILL CAMPBELL
ExxonMobil and Shell have “cornered the market” on Western Slope water rights, study says
Estimates put the water requirements of an oil shale industry producing 1.55 million barrels of oil a day at 378,000 acre-feet per year, compared to the Denver metro area’s consumption, which is less than 300,000 acre feet.
CNPC Suspends Talks With Chevron Over Oil-Field Stake
Chevron has a 60% interest in Big Foot. Norway’s StatoilHydro ASA and Royal Dutch Shell PLC have stakes of 27.5% and 12.5%, respectively. A stake sale of 12.5% would reduce Chevron’s holding to 47.5%.
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India’s IOC, Shell eye Reliance pumps stake -paper
MUMBAI, March 20 (Reuters) – Indian Oil Corp (IOC.BO) and the Indian unit of Royal Dutch Shell (RDSa.L) are front runners for buying a 50 percent stake in Reliance Industries’ (RELI.BO) retail fuel business, the Economic Times said on Friday.
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