Posts from ‘April, 2009’
Snapshot of Wikipedia Article Royaldutchshellplc.com taken on 30 April 2009
royaldutchshellplc.com is a gripe site operated by 92 year old Alfred Donovan and his 62 year old son John Donovan, which is critical of Royal Dutch Shell. On 11 June 2007, Ed Crooks of the Financial Times described it as “an anti-Shell website run by a father and son partnership that has been a long-running thorn in the companys side.” On 25 January 2008, Carl Mortished, World Business Editor of The Times newspaper wrote an article headlined: Shell chief fears oil shortage in seven years in which he described the site as an independent website that monitors the company. During the course of a long feud between the Donovan’s and Shell, oil industry observers have speculated that the Donovan’s thwarted a Shell Texacomerger and cost Shell billions of pounds sterling in respect of its Sakhalin-2 project in Russia.
NETHERLANDS Royal Dutch Shell plans to inject US$5bn into its pension fund in 2009, chief financial officer Peter Voser told analysts yesterday.
In a presentation about the firms first quarter returns, Voser said the increased contribution amount, up from $1.6bn in 2008, is driven by regulatory and other legal requirements.
Voser said: The sharp decline in the world markets at the end of 2008 has left pension deficits for many companies, and Shell is not immune from that.
By SAM FLEMING
Last updated at 9:11 PM on 29th April 2009
Oil prices may not bounce back for 12 to 18 months, Royal Dutch Shell warned after a sharp fall in profits.
Profit warning: Royal Dutch Shell says it could be another 12 months before oil price bounce back
First-quarter earnings tumbled 58 per cent to £2.2billion after oil prices more than halved.
Demand may fall further because of the mounting recession, said chief financial officer Peter Voser, who replaces Jeroen van der Veer as chief executive this summer.