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February 3rd, 2011:

Shell: Clean-up goes on for Niger Delta – and oil company’s reputation

Feb 3rd, 2011
by John Donovan.
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Shell’s image is still mired by claims over oil spills, Ken Saro-Wiwa’s hanging and WikiLeak’s revelations of infiltration

John Vidal, Environment editor

Thursday 3 February 2011 19.07 GMT

Ogoni leader Ken Saro-Wiwa was hanged by the Nigerian military regime after organising opposition to Shell’s activities in the Delta. Photograph: Greenpeace/AFP

Despite today’s soaring profit figures, Shell remains a company under siege for its lucrative activities in Africa.

At a parliamentary hearing in the Netherlands last week, Amnesty International, Friends of the Earth, Nigerian and British activists, Dutch MPs and others accused the company of breaches of safety, human rights abuses, destroying lives and the environment, hiding information, gas flaring and blaming locals for oil pollution in Nigeria. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Royal Dutch Shell the world’s largest “speculator”

Feb 3rd, 2011
by John Donovan.
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Shell’s search for profits widens even as the oil price climbs

• Shell now ‘world’s largest trader’ as well as oil major
• Plans to explore in Arctic, Iraq, Russia and deep sea

Terry Macalister: Thursday 3 February 2011 20.07 GMT

Shell earned the majority of its profits in 2010 not from pump sales, but from exploration and development. Photograph: Andy Rain/EPA

As Shell fought to dismiss accusations today that it was cashing in on high oil prices, the company gave a new insight into how it has racked up billions in profit by revealing itself as the “world’s biggest trading business”.

Peter Voser, Shell’s chief executive, said he felt the pain of motorists struggling to pay record fuel prices, pointing out that the Anglo-Dutch oil company was also suffering in its refining and marketing businesses. But critics dismissed that argument, saying that $16bn of the $18.6bn earned by the company over the past 12 months came from the “upstream” operations of exploration and development. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell Delays Alaska Exploration After Oil Spill in U.S. Gulf

Feb 3rd, 2011
by John Donovan.
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“Despite our investment in acreage and technology and our work with the stakeholders, we haven’t been able to drill a single exploration well,” Voser told reporters today on a conference call. “Critical permits continue to be delayed and the timeline for getting these permits is still uncertain.”

ROYAL DUTCH SHELL CEO PETER VOSER

Bloomberg

By Eduard Gismatullin – Feb 3, 2011 12:19 PM GMT+0000

Royal Dutch Shell Plc, Europe’s largest oil company, will delay its drilling campaign in Alaska after the worst U.S. oil spill in the Gulf of Mexico last year.

Shell hasn’t received full clearance to start drilling off the coast of Alaska, according to Chief Executive Officer Peter Voser. The company decided to postpone its plans to spend as much as $150 million in the region until 2012.

“Despite our investment in acreage and technology and our work with the stakeholders, we haven’t been able to drill a single exploration well,” Voser told reporters today on a conference call. “Critical permits continue to be delayed and the timeline for getting these permits is still uncertain.” read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Go Steady With Shell, or Get a Buzz From BP?

Feb 3rd, 2011
by John Donovan.
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THE WALL STREET JOURNAL: THE SOURCE

By James Herron: FEBRUARY 3, 2011

Reuters

Sometimes equity markets have a sick sense of humor.

On Tuesday, troubled oil giant BP posted zero growth in fourth quarter adjusted profit, said its oil and gas output had plunged by more than 9% and had a major Russian exploration deal halted by a court order. Its shares closed just over 1% higher.

On Thursday, BP rival Royal Dutch Shell grew its adjusted profit for the quarter by almost 50%, produced 5% more oil and gas and said its flagship gas projects in Qatar were starting up exactly on schedule. Its shares fell more than 3%. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell’s Bump in the Road

Feb 3rd, 2011
by John Donovan.
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THE WALL STREET JOURNAL

By ANDREW PEAPLE

Bump in the road, or grinding halt? Royal Dutch Shell is confident its $4.1 billion fourth-quarter earnings will prove the former despite falling 13% below expectations, which it blamed on poor performance in its refining business. That obscured an encouraging improvement in the oil major’s return on capital. But investors hoping this will soon translate into higher dividends may now have to wait a bit longer.

Shell’s return on capital improved to 11.5% in 2010 from 8.5% the year before, boosted by a 5% rise in oil and gas production and cost cuts on target at $2 billion. Key gas projects in Qatar should help keep production stable and cash flow heading upwards this year, despite delays to its drilling plans in Alaska and the Gulf of Mexico. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

South Africa farmers oppose Shell’s shale gas plans

Feb 3rd, 2011
by John Donovan.
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Reuters Africa Thu Feb 3, 2011 12:53pm GMT

By Wendell Roelf

CAPE TOWN (Reuters) – Royal Dutch Shell is facing opposition to its plans to seek shale gas in South Africa’s semi-desert Karoo region, as farmers fear methods used to extract it will contaminate water and harm the environment.

The outcome of whether Shell is allowed to proceed could affect prospects for other oil and gas companies in the Karoo, which may hold substantial deposits of gas in shale.

This gas can now be exploited due to new techniques and could bring a much needed fresh source of energy to Africa’s largest economy, which is heavily reliant on coal. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell abandons offshore Alaska drilling plans for 2011

Feb 3rd, 2011
by John Donovan.
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platts

London (Platts)–3Feb2011/759 am EST/1259 GMT

Shell has abandoned plans for exploration drilling offshore Alaska in 2011 after continued delays with securing the necessary permits, the company’s CEO Peter Voser said Thursday.

Speaking on a conference call after Shell reported its fourth-quarter results, Voser said he hoped to be able to drill offshore Alaska in 2012, and called for the US authorities to speed up the permitting process.

“There will be no drilling offshore Alaska in 2011,” Voser said. “We need urgent and timely action on permitting to go ahead with the 2012 drilling program.” read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell profits fail to boost shares

Feb 3rd, 2011
by John Donovan.
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PRESS ASSOCIATION

3 FEBRUARY 2011

Royal Dutch Shell’s profits haul of £11.5 billion for 2010 has failed to win over the City after a disappointing fourth quarter performance.

Shares in the Anglo-Dutch giant slumped 3%, or 73.5p to 2177.5p, after tough downstream trading left earnings in the final three months of 2010 short of the 4.7 billion US dollars (£2.9 billion) anticipated in the City.

The pressure on the oil giant, which sparked a fall of 7.4p to 480.6p for rival BP, meant the FTSE 100 Index slipped 35.4 points to 5964.6 following a strong performance in recent days. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Royal Dutch Shell Reports Strong Earnings for Fourth Quarter

Feb 3rd, 2011
by John Donovan.
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A version of this article will appear in print on February 4, 2011, in The International Herald Tribune.

By JULIA WERDIGIER

LONDON — Royal Dutch Shell said Thursday that its earnings had more than tripled in the fourth quarter because of higher oil and gas prices, and as investments in new projects started to pay off.

Profit at Europe’s biggest oil company rose to $6.79 billion in the last three months of 2010, compared with $1.96 billion in the same period a year earlier.

“We are making good progress against our targets, and there is more to come from Shell,” Peter Voser, Shell’s chief executive, said in a statement. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell makes nearly £1.6m profits every hour

Feb 3rd, 2011
by John Donovan.
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The company is benefiting from rising oil prices, which are currently around $103 a barrel

Terry Macalister: Thursday 3 February 2011 08.23 GMT

A Shell petrol station in London. The company is benefiting from higher oil prices. Photograph: Ben Stansall/AFP/Getty Images

Shell stoked up the heated debate about the high cost of fuel on the forecourt today after reporting it made profits of nearly £1.6m an hour over the last three months.

The oil group never gives details of its British forecourt sales but it confirmed today that global profits from all sides of the business rocketed to $5.7bn (£3.5bn) in the last three months compared of 2010 with $1.2bn a year ago. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell profits double to $18.6bn, boosted by high oil prices

Feb 3rd, 2011
by John Donovan.
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The Telegraph

Higher oil prices have helped doubled profits at Royal Dutch Shell this year, allowing it to steam ahead of rival energy giant BP.

Rowena Mason

By Rowena Mason 8:08AM GMT 03 Feb 2011

The Anglo-Dutch company made profits of $18.6bn (£11.5bn) on a cost of supply basis – stripping out the effects of inventory changes.

Royal Dutch Shell B

For the fourth quarter, its profits were ahead of expectations at $5.7bn – missing the expectations of analysts.

Shell has seen a number of major projects from Qatar to Brazil start producing oil and gas this year, lifting output and revenue.

Production for the year rose 6pc to 3.3m barrels per day, up from 3.1m a year earlier. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell Profit Jumps but Misses Expectations

Feb 3rd, 2011
by John Donovan.
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THE WALL STREET JOURNAL

FEBRUARY 3, 2011

By JAMES HERRON

LONDON—Royal Dutch Shell PLC Thursday posted a 48% rise in adjusted profit for the fourth quarter, but still missed analyst expectations due to lower refining margins, higher taxes and weaker trading results.

Shell Chief Executive Peter Voser said the company’s improved performance at the end of 2010 has laid the foundation for a strong 2011. The company benefited from rising oil and gas prices and a large increase in oil and gas output from a year earlier.

The Anglo-Dutch energy company said the clean current cost of supplies, a keenly watched figure that strips out gains or losses from inventories and other nonoperating items, was $4.11 billion in the three months ended Dec. 31, compared with $2.77 billion a year earlier. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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