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Posts from ‘April, 2011’

Karoo group files charge over fracking ad

Complaint over a Shell advert which tries to allay public fears about its fracking exploration technique CHANTELLE BENJAMIN: Published: 2011/04/29 06:40:25 AM A GROUP of Karoo residents has accused oil company Royal Dutch Shell of being “untruthful and misleading” and has lodged a complaint over an advert which tries to allay public fears about its […]

Shell scared away by British tax?

April 29, 2011 LONDON, April 29 (UPI) — Royal Dutch Shell suggested it might pull out of developments in the North Sea because of a tax increase imposed by the British government, a director said. British Chancellor of the Exchequer George Osborne imposed a duty on oil and gas producers in an effort to take […]

Shell make £4.1bn…and axe North Sea fields

SHELL is slashing investment in the North Sea over a Budget Day tax hike – despite making £1.9million an hour. The giant yesterday revealed the rise meant it was now “uneconomic” to develop smaller UK oil and gas fields. Shell’s quarterly profits were up forty per cent and totalled £4.1billion. Chief finance officer Simon Henry […]

Shell may have to sell North Sea assets after tax raid

Published Date: 29 April 2011 By Martin Flanagan City editor ROYAL Dutch Shell warned yesterday that it may have to sell some assets in the North Sea and reduce investment in the region because of the Chancellor’s tax raid and higher industry decommissioning costs in the Budget. Simon Henry, chief financial officer, revealed that the […]

Shell chief condemns tax hike as profits surge 30%

mark williamson 29 Apr 2011 THE chief financial officer of Royal Dutch Shell has warned , the surprise hike in tax on North Sea profits will hit investment in the area, after the company unveiled a 30% leap in profits on the back of surging oil prices. Simon Henry said the hike, announced by George […]

BP should look to Anglo-Dutch rival Shell to help refine the way forward

One of the most striking features of the oil industry in recent times has been the divergent fortunes of Royal Dutch Shell and BP. BP has well-publicised problems that explain its recent under-performance, such as uncertainty over its future in Russia and the shock of last year’s Deepwater Horizon drilling rig explosion in the Gulf […]

Slick Shell leaves BP in slipstream

Shell remains interested in a merger – if the terms and conditions are right… Oil battle: The Gulf of Mexico crisis has proved disastrous for BP’s shares, while Shell’s have soared By Hugo Duncan Last updated at 10:42 PM on 28th April 2011 In the battle of the UK super majors, the first leg of […]

Shell Should Resist Dividend Siren Calls

APRIL 29, 2011 By ANDREW PEAPLE Royal Dutch Shell‘s bump in the road has sure flattened out. The oil company’s first-quarter earnings were up 53% on a disappointing last quarter of 2010, thanks to high oil prices and improved liquefied-natural-gas sales in Asia and Europe. Stronger cash flow may have some investors pressing for higher […]

Worst case Arctic spill could reach 58M gallons

DAN JOLING, Associated Press: Published 04:10 p.m., Wednesday, April 27, 2011 ANCHORAGE, Alaska (AP) — The federal agency overseeing offshore drilling in Alaska says a worst-case scenario for a blowout in the Chukchi Sea lease area could put more than 58 million gallons of oil into Arctic waters. That’s far more than the major leaseholder […]

Shell 1Q Adjusted Profit Soars 30% To $6.29B On Higher Oil Price

APRIL 28, 2011 3:15 A.M. ET By Alexis Flynn Of DOW JONES NEWSWIRES LONDON (Dow Jones)–Royal Dutch Shell PLC (RDSB.LN) Thursday posted a consensus-beating 30% rise in adjusted profit for the first quarter, as high oil prices, upstream production growth and continued cost-cutting all combined to good effect. “We continue to make good progress in […]

Shell First-Quarter Profit Rises on Higher Crude Oil Prices

By Brian Swint – Apr 28, 2011 8:50 AM GMT+0100 Royal Dutch Shell Plc (RDSA), Europe’s biggest oil company, said profit rose 30 percent in the first quarter as crude prices gained and refining earnings doubled. Excluding one-time items and inventory changes, Shell earned $6.3 billion compared with $4.8 billion a year earlier. Analysts expected […]