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.
Group increases debt to pay for dividend rise and capital expenditure
By Garry White
Last Updated: 7:33PM BST 29 Apr 2009
Royal Dutch Shell’s profits more than halved in the first quarter as oil prices tumbled, forcing the energy group to increase its debt to support both the dividend and its investment programme.
Despite the 58pc fall in profits to $3.3bn on a current cost of supplies basis, which takes into account changes in the value of oil and distillate inventories, Shell beat consensus forecasts of $2.6bn. The group’s performance for the three months to March reflected the oil price, which averaged $43.20 over the period compared with $97.86 in the first quarter of 2008.
LONDON, April 29 (Reuters) – Royal Dutch Shell Plc (RDSa.L) is retendering some contracts for the expansion of its Port Arthur refinery in the U.S., but this will not lead to any delays in startup of the new capacity, Chief Financial Officer Peter Voser told analysts on a conference call.
(Reporting by Tom Bergin, editing by Will Waterman)
� Thomson Reuters 2009 All rights reserved.
Royal Dutch Shell profits more than halved to $3.3bn (£2.2bn) in the first quarter of the year as the deepening global recession hit demand and dragged down oil prices.
By Telegraph Staff
Last Updated: 8:56AM BST 29 Apr 2009
Profits for the first three months of 2009 are 58pc lower than the same period a year ago and 31pc down on the last quarter of 2008.
The price of crude oil in London is trading around $50 a barrel, down from a record high of $147 last July. The high was hit just before the financial crisis came to a head in the autumn and the worlds biggest economies went into reverse.
Royal Dutch Shell Chief Executive Jeroen van der Veer said the weaker global economy has created challenging condition for both its exploration and retail businesses.
Republicans ‘using gas pipeline protest as a recruiting ground’
Monday, 27 April 2009
Dissident republicans linked to the groups which carried out the murders of two soldiers and a policeman in Northern Ireland last month were responsible for the break-in and criminal damage of the Shell gas plant in Mayo last week.
The group of around 18 men wearing black balaclavas threatened and struck one of the two security guards on duty with an iron bar before causing damage costing thousands of euro in what Garda sources described as a “military-style” operation.
NEW YORK — Shell Oil Co. agreed to pay a $5.8 million penalty and cut greenhouse gas emissions at a Gulf Coast refinery as part of a settlement with Texas environmental groups who filed suit against it early last year, The Associated Press reported.
The agreement, which must still be approved by a federal judge, would cut greenhouse gas emissions at Shells Deer Park, Texas, refinery and chemical plant by 750,000 pounds a year for the next three years. In addition, monitoring of air quality would be improved, according to the Sierra Club and Environment Texas groups.
MICHAEL DWYER’S SECURITY CONTACTS: International armed and unarmed security provided by Shell agent in Ireland
Ken Saro-Wiwa and the Case Aganist Shell: Film Screening and Panel Discussion
April 15, 6pm San Francisco
Shell plans to drill its first test well in the Chukchi Sea in the summer of 2010 or 2011, using the Frontier Discoverer drill ship. The company also plans to drill a second well in the Beaufort Sea with the same vessel later in the summer, according to Pete Slaiby, general manager for Shell Exploration and Production's Alaska operations.
Fourteen years ago, Ken Saro-Wiwa received the Goldman Prize for his leadership of a powerful non-violent movement against oil giant Royal Dutch Shell in the Ogoni region of Nigeria. He was hanged seven months later after a sham trial condemned around the world.
April 24, 2009: 11:50 AM ET
LONDON -(Dow Jones)- Sakhalin Energy, which recently started a large liquefied natural gas plant in Russia’s far east, has canceled all planned 2009 seismic surveys following pressure from environmental groups and scientists seeking to protect the habitat of the Western Gray Whale, the Russian branch of the World Wildlife Fund said in a statement Friday.
The WWF Russia called on other companies operating in the area -BP PLC (BP), ExxonMobil Corp. (XOM) and OAO Rosneft (ROSN.RS) – to take similar action.
During a meeting of the Western Gray Whale Advisory Panel (WGWAP), Sakhalin Energy - a partnership between Shell, Gasprom and other shareholders - agreed to cancel its proposed 2009 seismic activities, despite having already put plans in place for the work.
For more than a decade the Global Climate Coalition, a group representing industries with profits tied to fossil fuels, led an aggressive lobbying and public relations campaign against the idea that emissions of heat-trapping gases could lead to global warming
Analysts said the Gazprom Neft bid will be good news for Royal Dutch Shell PLC, the Anglo-Dutch supermajor that is Sibir's 50-50 partner in the Salym field. Shell would prefer to have Gazprom as a partner there over BP, one of its main rivals.
Masked men armed with chains and iron bars broke into Shell's gas refinery in the west of Ireland last night, in an escalation of the local protest against the oil company's 900m ($1.2bn, £800m) project.
Sibir also owns a 50 per cent stake in a joint venture with Royal Dutch Shell to develop one of Russia's most promising fields, Salym, where production hit 80,000 barrels a day in January.