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Posts on ‘April 29th, 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 [...]