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Posts on ‘February 3rd, 2011’

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

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, […]

Royal Dutch Shell the world’s largest “speculator”

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 […]

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

“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 […]

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

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 […]

Shell’s Bump in the Road

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. […]

South Africa farmers oppose Shell’s shale gas plans

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 […]

Shell abandons offshore Alaska drilling plans for 2011

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 […]

Shell profits fail to boost shares

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 […]

Royal Dutch Shell Reports Strong Earnings for Fourth Quarter

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 […]

Shell makes nearly £1.6m profits every hour

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 […]

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

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. 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. […]

Shell Profit Jumps but Misses Expectations

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 […]