News and information on Shell Plc
Linda Cook: 29 years’ service with Shell. Photograph: Adrian Dennis/Rex Features
17 March 2010
Mark Cobley
Errol Keyner from VEB told the Guardian newspaper: “The people who came up with this must have been smoking something which is not allowed in law. It’s beyond belief.”
Ian Lyall, Daily Mail
16 March 2010, 9:52pm
He said he was ‘energised’ and up for the fight. But as he stood at the podium to deliver the company’s annual strategy review, Shell boss Peter Voser (right) looked anything but.
His audience of a hundred or so British and foreign journalists listened with an air of resignation rather than in rapt attention.
Voser isn’t a natural orator. His clipped Swiss accent and the dry delivery may work well around the boardroom table, but his style is hardly inspirational.
Daily Mail
17 March 2010, 8:11am
Linda Cook, the former head of Shell’s oil and gas division, received a £5m compensation payment after losing out on the role of chief executive to Peter Voser.
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| Compensation: Linda Cook |
The revelation came in the firm’s annual report and will overshadow a well received strategy update by Voser.
His earnings were £2.9m last year.
Read more
Watch
Shell’s Voser Interview
By Will Kennedy and Andrea Catherwood
March 17 (Bloomberg) — Royal Dutch Shell Plc Chief Executive Officer Peter Voser said industry costs have started to rise and the company will use technology to control spending as it invests $100 billion to boost production.
Costs have not come down as much as we hoped for, and some of them are now rising again, Voser said in an interview with Bloomberg Television broadcast today. Shells challenge is to be more speedy in terms of technology implementation.
Daily Telegraph: Royal Dutch Shell has unveiled the most dramatic overhaul of its business in recent memory, outlining plans to exit more than a third of its 90 retail markets, slash refining capacity and return to growth after seven years of falling output.By Garry White
Published: 10:10PM GMT 16 Mar 2010
Peter Voser, chief executive, unveiled a further 1,000 jobs cuts in addition to the 6,000 already announced as he vowed to “sharpen up” Shell in the next three years by boosting output by 11pc.
“Shell has been disadvantaged recently, due to our higher exposure to refining and natural gas, where margins are hard-wired to the economy,” Mr Voser said.
“The priorities are for a more competitive performance, for growth, and for sharper delivery of strategy. We have more to do to drive out cost and improve the operating performance in the company.”
By John Donovan
On 31 March, Richard Wiseman, the Chief Ethics & Compliance Officer of Royal Dutch Shell Plc will be making a speech at a seminar in London: “Best Practice in Combating Corruption Extortion and Bribery“
“The event will examine new developments and tools in fighting corruption and providing practical methods for addressing and investigating extortion and bribery.”
We can only surmise that Mr Wiseman is present on the basis of being a poacher turned gamekeeper.
By Keith Findlay
Published: 17/03/2010
It emerged yesterday that a further 1,000 positions globally are going, on top of the 5,000 shed in 2009 and 1,000 the firm had previously flagged up for this year.
Shell would not say exactly where the latest cuts in its 101,000-strong worldwide workforce would be, but chief executive Peter Voser said the axe would fall mainly on downstream and corporate roles.
Aberdeen, where Shell employs about 1,800 people, is the hub for the firms UK upstream exploration and production activities and is, therefore, unlikely to see much of an impact.
(Reuters) – Australia Arrow Energy Ltd (AOE.AX) has opened its books to Royal Dutch Shell (RDSa.L) and PetroChina (0857.HK) for them to conduct due diligence for their joint takeover offer worth at least A$3.3 billion ($3.03 billion) sources said on Wednesday.
One of the sources said Arrow is expected to make a response on the offer within days. ($1=1.088 Australian Dollar)
(Reporting by Fayen Wong; Editing by Michael Perry)
Boston Common is one of more than 140 institutional investors supporting a shareowner resolution asking Shell to report on the strategic risks of Canadian oil sands investments in the face of "future carbon prices, oil price volatility, demand for oil, anticipated regulation of greenhouse gas emissions and legal and reputational risks arising from local environmental damage and impairment of traditional livelihoods."
March 17, 2010: Robin Pagnamenta Energy Editor
Royal Dutch Shell will sell full or part-stakes in as many as 9,000 petrol stations worldwide and cut a further 1,000 jobs as it intensifies its global cost-cutting.
The announcement came as Shell appeared to be edging closer to a deal with Arrow Energy to bolster the groups position in Australias fast-growing industry supplying coal-seam gas to China and South-East Asia.
Peter Voser, the chief executive, said that Shell intends to leave about 30 of the 90 countries in which it operates petrol stations. The move, which is already under way, is part of a focus on more profitable markets and on exploration and production.
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