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Posts from ‘July, 2009’

Shell not a “hoodlum organisation” says its Company Secretary, Michiel Brandjes

This self-explanatory email correspondence is published simultaneously with the article: "Former Shell Group Auditor says Shell is a hoodlum organisation"

Former Shell HSE Group Auditor says Shell is a hoodlum organisation

EMAIL RESPONSE FROM MICHIEL BRANDJES ON BEHALF OF JORMA OLLILA Dear Mr Campbell, Thank you for your email of 20th July to Mr Olilla. As I indicated to you in my email of 5 September, 2008, as this matter has been referred to the Grampian Police and the Procurator Fiscal, it would be wholly inappropriate for us to engage in any direct communication with you in relation to it. We are, of course, happy to cooperate fully with the relevant authorities in any investigation. Best Regards, Michiel Brandjes ?Company Secretary and General Counsel Corporate ?Royal Dutch Shell plc

740 senior Shell managers asked to reapply for 600 jobs

The Times

July 31, 2009

Shell axes thousands of white-collar jobs

Robin Pagnamenta and David Robertson

Royal Dutch Shell accelerated its cost-cutting campaign yesterday, warning of further substantial job reductions as the oil giant feels the effects of the biggest slump in global demand for crude since 1980.

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Shell set to axe thousands more jobs as its profits plunge 70%

DAILY MAIL

By Sam Fleming
Last updated at 10:30 PM on 30th July 2009

Royal Dutch Shell will axe thousands more jobs as it grapples with the deepest downturn in oil demand for almost three decades.

The oil giant’s new chief executive Peter Voser struck a resoundingly grim tone as he unveiled a 70 per cent crash in secondquarter profits to £1.4billion.

He will hack capital spending by 10 per cent and push through ‘substantial’ cuts to the firm’s 102,000-strong workforce.

Shell

Gloomy outlook: Shell has seen its profits plunge and plans more redundancies

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The worst of times are the best of times for Voser

Financial Times

By Jonathan Guthrie

Published: July 30 2009 21:27 | Last updated: July 30 2009 21:27

The scallop, a generally sedentary mollusc, is given to moments of panic when it flaps around like the wind-up false teeth sold in joke shops. A similar spasm is agitating managers at Royal Dutch Shell, which has the shellfish as its emblem. Incoming chief executive Peter Voser told an analysts’ meeting on Thursday: “We have too many people doing business with each other and not with the outside world.” One-fifth of senior executives have already gone.

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Voser’s cutting remarks are needed

PETER VOSER: "We are stripping away layers and overlaps that are of no value," he said as he announced half-year results yesterday before going on to accuse staff at the organisation of talking too much amongst themselves and not enough to the outside world.

Shell takes axe to jobs as profits tumble

Mr Voser has already overseen the introduction of a new restructuring programme in June, due to be completed by the end of the year, which includes a reduction of 20pc, or roughly 100 jobs, in senior management positions. The Shell boss said the programme was only the "beginning" of changes at the Anglo-Dutch company and that "substantial further staff reductions are likely".

Shell may freeze its dividend

DAILY TELEGRAPH: The traditionally reliable dividend of Royal Dutch Shell may be frozen this year after the oil giant revealed an aggressive cost-cutting drive amid slumping profits.

Shell’s Capital Conundrum

If investors remain unimpressed, it is perhaps because they have heard this before. Shell management has touted its "strategic cost leadership" since the 1990s but failed to deliver a permanently leaner business. At a forward earnings multiple of eight times, the stock trades at roughly a 10% discount to its peers. It has missed out on the 13% rally in the European sector this year, falling 9%. Mr. Voser will have to show much more for his restructuring efforts before that discount narrows.

Shell sheds 150 senior managers in shake-up

Financial Times

By Ed Crooks, Energy Editor

Published: July 30 2009 09:05 | Last updated: July 30 2009 21:32

All the senior managers at Royal Dutch Shell have been made to re-apply for their positions and 150 of them have lost their jobs, the company revealed on Friday as it warned of substantial further job cuts spreading across the group.

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Shell Brent Bravo fatalities – why a criminal investigation is in progress

brinded-wanted

(Also read related article… “Shell not a “hoodlum organisation” says its Company Secretary, Michiel Brandjes”)

Shell Brent Bravo fatalities – why a criminal investigation is in progress

By Bill Campbell, former HSE Group Auditor, Shell International

On the 3rd of September 1999 an Audit was carried out on the Brent Bravo installation.  Subsequently a further 6 audits were completed on other North Sea installations operated at that time by Shell Expro, a subsidiary of Shell UK Ltd.

The results of these combined audits was presented to Shell management on 22nd October 1999 and the opinion of the audit was that there were serious deficiencies in the management of health and safety offshore.

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Shell Corrib Gas protestor Maura Harrington given four months in jail

Two prominent Shell to Sea campaigners have been jailed today for four months each.

Maura Harrington and Niall Harnett have both been sentenced to four months in prison in connection with their continuing resistance to Shell in north Mayo.

Maura Harrington is expected to arrive at Mountjoy Womens Prison on the North Circular Road Dublin, at 6PM this evening. Demonstrators are expected to gather at the prison gates at this time.

In 2008, Harrington resorted to a hunger strike as part of the ongoing battle against Shell’s plans.

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Pessimistic Shell plans ‘substantial’ job cuts

The stock is down 12 percent this year, compared with a 3.8 percent decline for BP.

Shell Blog reaction to Shell 2nd Quarter Results – fire Brinded

Comments posted on our Shell Blog this morning by two regular contributors in reaction to the 2nd Quarter 2009 results announced by Royal Dutch Shell Plc  at 7am today. Guest1 is a senior Shell insider. Paddy Briggs is a highly esteemed former Shell executive.

guest1
on Jul 30th, 2009 at 8:05 am

Just read: “We are in the middle of a programme to build 1 million barrels of oil equivalent per day (boe) of additional Upstream capacity”. But Brinded has been in the middle of building extra production capacity since many years. So why would we now believe Shell? If Voser has any sense he fires Brinded asap. And all the sycophants around him. Thereafter he may hear the truth and bad news occasionally….

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Shell Lost 90,000B/D Nigerian Output In 2Q Due To Insecurity

LONDON (Dow Jones)--Insecurity cost Royal Dutch Shell PLC's (RDBS.LN) Nigerian onshore and shallow water unit 90,000 barrels a day in the second quarter, the company said Thursday.

Shell profits plunge 70% on falling oil demand

Times Online: Shell's performance was worse than BP's, which reported its second quarter results two days ago.

Public wary of carbon capture

Financial Times

By Joshua Chaffin in Barendrecht

Published: July 30 2009 03:00 | Last updated: July 30 2009 03:00

Extracts

The new store at the Barendrecht shopping centre looks much like the neighbouring clothing shops and fast food chains, but it is much more exotic. Almost 2km below the shopping centre lies a nearly spent natural gas reservoir that Shell and the Dutch government were planning to pump full of carbon dioxide from a nearby refinery to test the technology.

Barendrecht residents cite concerns, from the dangers of living and working above tonnes of noxious gas to more banal worries about property prices. They have managed to delay Shell’s plans. They are braced for a tougher fight as the federal government prepares a final ruling on the project before the year-end.

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Shell profit falls 70 percent but beats forecast

Reuters

Thu Jul 30, 2009 2:26am EDT

LONDON (Reuters) – Royal Dutch Shell Plc (RDSa.L) posted a 70 percent fall in net profit in the second quarter compared with the same period of 2008, as oil prices and refining margins tumbled.

The world’s second-largest non government-controlled oil company by market value said on Thursday second-quarter current cost of supply (CCS) net income, which strips out unrealized gains or losses related to changes in the value of fuel inventories, was $2.34 billion.

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Shell reports 70% dip in profits

(UKPA) – 16 minutes ago

Royal Dutch Shell has announced a 70% slide in profits to 2.3 billion US dollars (£1.4 billion) in the period between April and June.

The Anglo-Dutch firm achieved profits of £22 billion last year, but, in line with BP on Tuesday, it said the weaker global economy had impacted its performance in the second quarter.

New chief executive Peter Voser said: “Energy demand is weak.”

“There is excess capacity in the market, and industry costs remain high.”

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Shell cuts senior execs by 20% substantial staff cuts to follow

From a Shell Press Release

Key features of Royal Dutch Shell Plc SECOND quarter 2009

Royal Dutch Shell Chief Executive Officer Peter Voser commented:

“Our second quarter results were affected by the weak global economy. This weakness is creating a difficult environment both in Upstream and Downstream.

Energy demand is weak. There is excess capacity in the market, and industry costs remain high.

Conditions are likely to remain challenging for some time, and we are not banking on a quick recovery. Shell is adapting to this new situation, and we must do more. We are sharpening our focus on delivery and affordability.

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Shell to report profits down in 2Q, test for new CEO

LA TIMES: Analysts think Voser may disclose further details of an organizational restructuring announced in May — including job cuts. The company may also scale back ambitious plans to invest heavily in new production in the face of the ongoing global economic slump.

Tips on suing Royal Dutch Shell for theft of Intellectual Property

By John Donovan

We have sued Shell repeatedly in the High Court for the theft of our Intellectual Property. It is doubtful if anyone can match our experience in dealing with this ruthless serial poacher of others parties ideas.

We are not alone in being cheated by Shell. Other similar litigation is currently underway against this unprincipled predator.

The following is an extract from a response email I sent yesterday to Michiel Brandjes, Company Secretary and General Counsel Corporate, Royal Dutch Shell Plc:

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Free Research on Royal Dutch Shell Plc (over 24,000 articles)

Alfred Donovan Wall Street Journal image

(Wall Street Journal image of Alfred Donovan, the 92 year old co-owner of the website royaldutchshellplc.com.)

We have assembled by far the worlds largest online library of Shell related news articles, confidential Shell documents and Shell internal email correspondence leaked to us by insider sources. Our readers appetite for Shell news and insider information is fed by a network of Shell insider sources around the globe. Emails from senior executives including Peter Voser have been supplied to us on the day they were sent. As our regular visitors are aware, a leaked email from David Greer, Deputy CEO of Sakhalin Energy Investment Company, brought about his “resignation”. We have even published the top secret minutes of meetings held by its most senior executives.

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Rebel oil attacks cost Nigeria billions: Shell

ABUJA — Nigeria has lost some 47 billion dollars in revenue from oil firm Shell since 2006 due to cuts in output caused by rebel attacks, the firm's boss in the country said Tuesday.

Cnooc-Shell JV Plans To Expand Refinery Capacity By 20% -Exec

HUIZHOU (Dow Jones)--A petrochemical joint venture between China National Offshore Oil Corp. and Shell Nanhai BV, a unit of Royal Dutch Shell PLC (RDSA), plans to expand its refinery near Huizhou in southern China by 20% by mid-2010, since demand for its products is on the rise, a top executive said.

Shell works to fix Gulf of Mexico pipeline leak

HOUSTON/NEW YORK (Reuters) - Shell and the U.S. Coast Guard rushed Tuesday to contain 1,400 barrels of crude oil spilled into the Gulf of Mexico from a leaking Shell-operated pipeline, fighting back an oil slick with skimmer ships and airplanes.

Royal Dutch Shell tax avoidance

With new information that came in, the Guardian was able to spotlight hitherto unknown avoidance schemes by the big banks, particularly those in the process of being helped by state funds. The series revealed the tax stratagems of many of Britain's corporate household names. It documented brands shifted offshore by Diageo, Shell, and drug companies AstraZeneca and GlaxoSmithKline.

Greenpeace study finds oil companies may be doomed

Shell has the highest exposure of the majors to the tar sands and is most at risk from a decline in demand.

BP Profit Declines on Plunging Oil, Refining Margins

Royal Dutch Shell Plc, Europe’s biggest oil producer, may say July 30 that adjusted earnings fell 69 percent to $2.42 billion, a survey of 17 analysts showed.

FOCUS: 2Q Is Time For U.K. Oil Bosses To Prove Their Mettle

Shell boss Peter Voser has been in the job less than a month, but is likely to be defending his company's worst quarterly profits for many years. People want to hear exactly how his reorganization plan will change Shell for the better and help it close the profitability gap with rivals.

Shell rejects reports of 500 to 600 global management cull

Oil major plans further jobs cull

Oil giant Royal Dutch Shell is planning a fresh wave of job cuts under new chief executive Peter Voser’s group-wide overhaul, it has emerged.

Shell’s first tranche of cuts is set to draw to a close this week and it is expected to be followed soon by an announcement over a new set of job losses.

The firm rejected reports that between 500 and 600 of its global management are to go in the next phase of the restructuring.

A spokeswoman for the firm declined to comment on the numbers and it is believed Shell has yet to set targets for the upcoming cuts.

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On a Swiss roll…

Here’s the story. You are a Swiss accountant with a proven record of ruthlessness and synthetic business acumen. You are comfortable with numbers – that’s what you do – but you know little about the minutiae of the oil business. How can you be – you are not an “oil man” you are a “dollars man”. By guile, good fortune and the Peter Principle you find yourself at the helm of one of the world’s biggest oil and gas companies. You know that you will struggle with the difficult things – like creating an organisation that finds, develops, transports, refines and markets hydrocarbons. You know nothing at all about the oil and gas chain from exploration to consumption. You’ve never really worked in it – other than seeing spreadsheets which show you how much it costs. But you are now in charge. So what you do is retreat to the familiar world of numbers. That world where there is certainty – where something that costs “$100m” is only supportable if an adequate ROACE is assured. And where, even though future earnings are always, by definition, unpredictable you find a way of getting bogus certainty where there is none. By appointing more accountants and listening to them.null

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Shell insiders toxic reaction to Vosification job cuts

By John Donovan

The following information was posted on to our Shell Blog this morning by guest1, an extremely well-informed senior Shell insider whose real identity is known to us.

Voser cutting 600 top jobs. Nothing new, we could read that quite a while ago on the Donovan site. But what does this really mean? The head honchos are now expected to all combine two jobs. This is a nice recipe to get them overworked and overtired while the official explanation is ‘better coordination’. But they will be so exhausted that they cannot challenge projects that hit their desks for approval and so must rely on completed staff work by the underlings. The last few years this system has been tried and failed.

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Royal Dutch Shell ruthless restructuring continues – more job cuts

By John Donovan

On 30 January we broke the news of Shell’s decision to make “tough choices” in reaction to the collapse in oil prices.  Shell confirmed to Reuters that the Shell internal emails from CEO Jeroen van der Veer and Executive Director Malcolm Brinded we published were authentic.  Quotes from the emails were featured in the Reuters article: Shell gets tough on costs as oil prices bite

Notability, the warning by Brinded of “touch choices” did not extend to him giving up his fat cat retention bonus.

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Fresh wave of job cuts at Shell

CITY A.M.

Monday, 27th July 2009

ENERGY
OIL giant Royal Dutch Shell is set to announce a set of job cuts this week, as new chief executive Peter Voser continues his wave of intense restructuring at the company. But reports that the number of job losses would be as high as 600 were yesterday dismissed. Voser is expected to give details of his restructuring plans at the company’s interim results on Thursday. Earlier this year, Voser kicked off his leadership with a bang, when he axed almost half of the executive directors on the group’s board. This led to the most senior woman executive, Linda Cook, leaving.

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10,000 of Shell’s global workforce of 102,000 likely to go?

The Times

// <![CDATA[ //

July 27, 2009

Shell cuts up to 600 top jobs in Voser’s overhaul

Robin Pagnamenta, Energy Editor

Royal Dutch Shell is poised to announce a fresh wave of cuts in senior jobs this week as Peter Voser, the new chief executive, intensifies an aggressive restructuring drive within Europe’s largest company.

The Anglo-Dutch oil company will reveal alongside its interim results on Thursday that up to a quarter of its senior management — between 500 and 600 people globally — will lose their jobs in the coming weeks. The cuts represent the climax of a huge shake-up under way in Shell, of which Mr Voser, who is Swiss, took full control from Jeroen van der Veer this month. The redundancies will mark one of the most far-reaching management overhauls in a successful multinational group undertaken by an incoming chief executive.

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Shell to announce a cull of up to 600 senior management roles?

Daily Telegraph

‘Grim reading’ likely at BP and Shell

BP and Shell, the oil giants, will this week release results that analysts expect to make “grim reading” because of lower global demand for oil.

By Rowena Mason
Published: 10:08PM BST 26 Jul 2009

Shell, which recently became the world’s biggest company by market capitalisation, has been hit by falling output in the Nigerian delta, where rebels have attacked its facilities. The company could announce a cull of up to 600 senior management roles globally.

Analyst consensus forecasts show that BP is expected to make $2.78bn (£1.69bn) in adjusted operating profit, edging ahead of Shell’s estimated $2.4bn profit.

Both companies are under pressure from falling demand for oil, but Shell is more exposed to the slumping price of natural gas. Richard Griffiths, an analyst at Evolution Securities, said: “Everyone knows it is going to be grim reading, so we will be looking at the outlook. Rising oil prices combined with a declining cost base means earnings momentum should start to turn in a postive direction.”

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Royal Dutch Shell Plc strategic review of global refining operations

globeinvestor.com

SHAWN MCCARTHY

00:00 EDT Saturday, July 25, 2009

OTTAWA — GLOBAL ENERGY REPORTER,

Earlier this month, Royal Dutch Shell PLC announced it is conducting a strategic review of some of its global refining operations, including its 130,000-barrel-a-day refinery in Montreal. Options for the 75-year-old plant include continuing its operation, selling it or closing it and transforming the property into a terminal to receive imported petroleum products.

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Voser sweeping cost-cutting expected to include thousands of redundancies

The Sunday Times

UK oil giants’ profits plunge $10bn

July 26, 2009

Danny Fortson

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Profits collapse but BP and Shell set to hold dividend steady

Some believe that both BP and Shell could be interested in cutting short the process of finding new reserves by announcing takeovers of existing companies.

Dramatic Fall in Shell Second Quarter Profits

Rival Royal Dutch Shell meanwhile is set to post underlying second-quarter profits on Thursday of around 2.4 billion dollars (£1.5 billion), compared with a return of 8.6 billion US dollars (£5.2 billion) a year earlier.

Exploiting boardroom connections of Sir Mark Moody-Stuart

Hermes Equity Ownership Services, which advises funds on governance, is banking on Sir Mark's boardroom relationships. These include Shell, which he chaired, where investors have opposed pay policies.

Chevron Delays Gorgon LNG Development Approval, Age Reports

Chevron and its partners, which include Exxon Mobil Corp. and Royal Dutch Shell Plc, have delayed the go-ahead until Sept. 14, the newspaper reported without saying where it got the information.

Shell Dutch Pension Fund Melt Down Recovery Plan

In December 2008, based on information provided by the website royaldutchshellplc.com, the Financial Times and other news organizations, including the International Herald Tribune reported the the Shell Dutch Pension Fund was substantially underfunded and that employee contributions would have to increase.

Shell put 2 bln eur into Dutch pension fund in Q2

Shell said earlier this year it would need to increase contributions to its pension funds, after turmoil in financial markets decreased the value of their assets.

Shell Pays Extra $2.9 Billion Into Pension Fund

July 23 (Bloomberg) -- Royal Dutch Shell Plc, Europe’s largest oil company, contributed an additional 2 billion euros ($2.9 billion) to its pension fund after falling below a regulatory threshold.

New Zealand Refining Falls After Report Exxon to Sell Its Stake

Royal Dutch Shell Plc is already seeking a buyer for its 17 percent holding in New Zealand Refining at a time when new capacity in Asia is forecast to depress margins in the region for the next two years. Investments in existing plants are profitable again after sellers lowered prices, Valero Energy Corp., the largest U.S. refiner, said last month.

95 per cent of Shell people are honest the rest are in senior management

Posting on Shell Blog by “Outsider”

As one senior Shell employee put it, “95% of the people at Shell are honest, ethical and extremely competent. Unfortunately the other 5% are in top management positions”

Michiel Brandjes one of the good guys at Royal Dutch Shell Plc

(Michiel Brandjes, Royal Dutch Shell Plc Company Secretary and General Counsel Corporate)

Operating a website – royaldutchshellplc.com – using the dotcom domain name of the world’s largest company Royal Dutch Shell Plc., has resulted in a truly bizarre relationship with the company.

Shell’s current tactics are to express indignation in response to our outspoken criticism and decline to confirm the authenticity of leaked Shell internal documents and communications in the hope that the news media will then not risk publishing related articles.  This approach has not worked because the credibility of our Shell insider information is such, that leading news organizations, including The Wall Street Journal, Reuters, and the Financial Times, have all published articles without receiving confirmation from Shell of related facts.

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BP Says North Sea Oil, Gas Production Will Drop 9%

Royal Dutch Shell Plc, Europe’s largest oil producer, sold some U.K. assets last year, including its share of the South Cormorant, Cormorant North, Tern, Eider, Kestrel and Pelican licenses, non-operated interests in the Hudson license and interests in the Brent System and Sullom Voe terminal.
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