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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"

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. read more

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 read more

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. read more

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. read more

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. read more

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.
read more

Pessimistic Shell plans ‘substantial’ job cuts

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

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