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Posts on ‘March 16th, 2010’

Shell to cut a further 1,000 jobs

Shell is to cut a further 1,000 jobs. Photograph: Graham Turner Royal Dutch Shell announced a further 1,000 job cuts today as the Anglo-Dutch firm admitted it had been slow to respond to the global slump. The oil group, which has 100,000 staff worldwide, cut 5,000 posts last year and had already announced a further […]

Fishermen ‘right to be concerned about mercury’

SHELL is working on a submission for the Environmental Protection Agency (EPA) regarding the discharge of water which will be separated from the gas, writes Marian Harrison. The company agreed with fishermen not to discharge the treated water into the Sruwaddacon Bay and are investigating alternative options before seeking permission from the EPA.

More Shell job cuts – 7,000 announced under Voser

March 16, 2010 Comment: cracking Shell Robin Pagnamenta After seven years of year-on-year declines in oil production, Shell’s return to volume growth represents a significant turnaround for the Anglo-Dutch oil giant. For Peter Voser, eight months in to his role as chief executive, it also reflects a new phase in the drive to rebuild the […]

Shell Ireland Corrib Gas Project Startup Delayed To ’12-’13

THE WALL STREET JOURNAL MARCH 16, 2010 By Lananh Nguyen Of Dow Jones Newswires LONDON (Dow Jones)–The startup of Royal Dutch Shell PLC’s (RDSB) Corrib gas project off the west coast of Ireland will be delayed to 2012-2013, the company said Tuesday in a strategy update. The project was originally set to come online between […]

Rather than a fire sale, Shell may close refineries

THE WALL STREET JOURNAL Shell: Refinery Sales Could Be Stalled By Potential Essar IPO By Lananh Nguyen Of DOW JONES NEWSWIRES MARCH 16, 2010, 12:33 P.M. ET LONDON (Dow Jones)–India’s Essar Oil Ltd.’s (500134.BY) potential London listing could stall the company’s negotiations to buy three European refineries from Royal Dutch Shell PLC (RDSB), Shell’s Chief […]

Shell Pays CEO Voser $4.4M, Ex-Exec Linda Cook Gets $7.6M Severance

THE WALL STREET JOURNAL MARCH 16, 2010, 6:47 A.M. ET By Lananh Nguyen and Jeffrey Sparshott Of Dow Jones Newswires LONDON (Dow Jones)–Royal Dutch Shell PLC (RDSB) said Tuesday it made a $7.6 million severance payment to the former head of its gas and power division last year, making her the highest-earning executive at the […]

Shell to boost production, cut more jobs

Associated Press,  03.16.10, 05:46 AM EDT AMSTERDAM — Royal Dutch Shell PLC says it will boost production by 11 percent by 2012 from 2009 levels, slightly more than previously forecast, and sell assets and cut more jobs. The targeted output rise, to 3.5 million barrels of oil per day, would reverse a decade of production […]

Shell CEO’s Pay Rose 22% in 2009

By LANANH NGUYEN THE WALL STREET JOURNAL MARCH 16, 2010 LONDON—Royal Dutch Shell PLC’s Chief Executive Peter Voser’s earnings rose 22% in 2009 to $4.4 million, according to the company’s annual report Tuesday. Mr. Voser, who became CEO in July 2009, earned $3.6 million in 2008 while serving as the company’s chief financial officer. The […]

Royal Dutch Shell Plc Updates on Strategy to Improve Performance and to Grow

– Shell (NYSE: RDS.A) (NYSE: RDS.B) today said it was entering a new period of growth, and outlined plans to sharpen up performance and reduce  costs. – Upstream production is expected to reach 3.5 million barrels of oil equivalent per day (mboe/d) in 2012, an increase of 11% from 2009. – In addition, the company […]

Shell proved reserves climb on SEC rule change

By Steve Goldstein LONDON (MarketWatch) — Royal Dutch Shell in its annual report, said proved oil and gas reserves rose to 14.13 billion barrels of oil equivalent from 10.9 billion in 2008. Shell said the 2009 volumes were established under new SEC rules on oil and gas reporting. The report said 4.42 billion barrels were […]

Shell eyes return to growth

Tue Mar 16, 2010 8:20am GMT LONDON (Reuters) – Royal Dutch Shell Plc (RDSa.L) said it was planning a return to robust growth in oil and gas production after years of decline, as it unveiled strong reserves additions that would underpin longer term growth. Europe’s largest oil company by market value said it is targeting […]

Shell may have to raise bid for Arrow Energy

A stream of analyst comments and silence on the offer from the Australian coal-seam gas group has fuelled expectations that Arrow will reject the bid and the two parties will have to come in with a higher – and hostile – offer. Last week, Shell and PetroChina offered A$4.45 in cash for each Arrow share, plus a share in a new, international Arrow entity.

Dirty Oil

Co-op backs oil sands awareness campaign By Ed Crooks, Energy Editor Published: March 15 2010 22:32 The Co-op is backing Dirty Oil, a new documentary that had its premiere in London on Monday night. The film alleges pollution from oil sands production is contributing to high rates of cancer among local communities; a claim that […]

So far so good as Shell is giving a shaking

March 16, 2010 David Wighton: Business Editor’s commentary He arrived with a bang and within weeks had axed 5,000 jobs. But eight months after taking over the helm at Royal Dutch Shell, is Peter Voser making progress turning around the supertanker? Long derided as the most sluggish of the top oil companies, Shell will today […]