Royal Dutch Shell Plc  .com Rotating Header Image

February 3rd, 2012:

Europe is too emotional about fracking, says Shell chief

Tom Bawden: Friday 03 February 2012

Shell’s chief executive, Peter Voser, called on Europe for a less “emotional” response to fracking, as he outlined plans to accelerate the oil giant’s use of the controversial technology used to release hydrocarbons from rocks.

Mr Voser said Shell would invest $6bn (£3.8bn) to appraise, explore and develop gas and oil reserves contained in rocks this year, as it looked to significantly expand the volume of hydrocarbons it produces. 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 reminds us of the moral bankruptcy of the corporate elite

By STEVE HAWKES, Business Editor: Published: 3 February 2012

SHELL is coining it as pump prices soar — after yesterday unveiling an £18BILLION profits bonanza.

The oil giant sparked outrage by boasting it raked in almost £2.2million an HOUR last year.

Hard-up motorists — now facing forecourt prices that are almost back to record levels — were left fuming.

Almost all of the 54 per cent surge in profits was down to the rocketing price of crude.

Shell, which also benefited from rising gas prices, insisted it barely made a penny at the pumps. But the RAC’s Adrian Tink raged: “Motorists understandably feel they are being taken for a ride when they see figures like these. We understand they don’t make a large amount at the pump but they make a lot of money when the oil price is going up. 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 fears it could be driven out of the UK over North Sea taxes

Shell warned the government not to tax it out of the UK, as it sketched out ambitious growth plans alongside an underwhelming set of results.

Chief executive Peter Voser said the Anglo-Dutch oil company was aiming to pump 4bn barrels of oil per day (bpd) by 2017, compared to 3.2bn today.

Net spending will rise from £15bn to £19bn this year as it chases its goal, although most of the difference will come from fewer asset sales, with actual investment set to rise by a more modest £1bn to £21bn.
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.

Oil price could fall to $70 in 2012 amid volatility, Shell warns

Oil prices could fall to $70 a barrel during 2012, from current levels above $110, as high volatility in the economy and energy markets becomes “a fact of life”, Royal Dutch Shell executives said.

By Emily Gosden: 3 February 2012

The oil giant unveiled its 2011 results on Thursday, with a 54pc jump in full-year profits to $28.6bn (£18.1bn).

High oil prices helped to compensate for a tough fourth quarter in which Shell reported a loss in its ‘downstream’ refining and marketing division.

Shell’s chief executive, Peter Voser, outlined an aggressive long-term growth strategy, focused on ‘upstream’ exploration and production. He said the strategy would help Shell ride out volatility and increase cash flow by up to 50pc over the next four years. It would spend $30bn in 2012, with more than 60 projects under construction and in design. 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 to sell 24% stake in Woodside

The share price of oil and gas firm Woodside dipped on Friday after oil major Shell announced it would sell its stake in the Australian company.

By: Esmarie Swanepoel

3rd February 2012

PERTH (miningweekly.com) – The share price of oil and gas firm Woodside dipped on Friday after oil major Shell announced it would sell its stake in the Australian company.

Royal Dutch Shell CFO Simon Henry said overnight that its 24.27% stake in Woodside no longer fitted the company’s long-term plans, and would be sold when the time and price was right.

The oil and gas major said that divestments were expected to reach between $2-billion and $3-billion in 2012.

In its upstream portfolio, Shell was expecting some 250 000 barrels of oil equivalent a day of asset sales and licence expiries over the 2012/17 timeframe, and assuming that these impacts played out, oil and gas production was expected to average some four-million barrels of oil equivalent a day in 2017/18, an increase of some 25% from the 2011 levels of 3.2-mllion barrels of oil a day. 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.

Never Say Never Again

John

An incomplete but nonetheless informative summary of historic catastrophic offshore events…might be of interest to your readers…

LINK TO FILE: NeverSayNeverAgain

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.

Union fury as Shell closes pension scheme despite making £18bn profit

Fuel giant Shell has been accused of “moral bankruptcy” for announcing profits of £18billion – just a month after closing its final salary pension scheme for new recruits.

Fuel giant Shell has been accused of “moral bankruptcy” for announcing profits of £18billion – just a month after closing its final salary pension scheme for new recruits.

The multinational’s haul soared 54% last year thanks to sky-high oil prices caused largely by political tensions in the Middle East. But union leaders accused the firm of raking it in while hammering workers.

Unite general secretary Len McCluskey said: “Shell reminds us of the moral bankruptcy of the corporate elite. The company is needlessly closing its final salary scheme while posting colossal profits. 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.

BP should take a close look at Shell

There are two main differences between Royal Dutch Shell and BP.

By , Head of Business 11:17PM GMT 02 Feb 2012

Shell’s results on Thursday showed it was capable of mistakes, like any company. Hiccups in its production business and continued over capacity in refining meant it undershot market expectations and the share price ended 1.2pc down.

But the company’s dividend remains strong (in 2011 it was Europe’s biggest dividend payer, before special distributions, and probably the world’s biggest as a result) and it plans to start raising the payout on the back of continued investment. 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.

PetroChina Boosts Shell Ties With 20% Stake in Shale Project

February 02, 2012, 11:40 AM EST

By Bloomberg News

Feb. 3 (Bloomberg) — PetroChina Co., the country’s biggest energy producer, boosted ties with Royal Dutch Shell Plc after agreeing to buy a 20 percent stake in its Groundbirch shale-gas project in Canada.

Shell will remain the operator of the project, Mao Zefeng, the Beijing-based senior assistant secretary to PetroChina’s board, said by telephone yesterday. He declined to give the value of the transaction.

PetroChina plans to pay more than $1 billion for a stake in the Groundbirch property, Hong Kong-based FinanceAsia reported on its website, without saying where it got the information. Shell and PetroChina’s parent agreed in June 2011 to increase cooperation in energy exploration in China, estimated to hold the world’s largest reserves of shale gas. 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 Losing $1 Billion a Year on U.S. Gulf Drilling Delays

February 02, 2012, 1:20 PM EST

By Eduard Gismatullin

Feb. 2 (Bloomberg) — Royal Dutch Shell Plc, Europe’s largest oil company, is losing about $1 billion a year from drilling delays in the Gulf of Mexico since the 2010 Macondo disaster.

Shell’s production in the region will be curbed by about 50,000 barrels of oil equivalent this year, similar to 2011, Chief Financial Officer Simon Henry said. The company expects to return to planned operations off the Gulf coast by 2014.

“The cash flow implications are a billion dollars or more per year relative to where we want to be,” Henry said in London today. “We are catching up.” 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 Looking At Ways Ways To Improve US Gas Profits

FEBRUARY 2, 2012

— Shell aiming to exploit difference in price between U.S. gas and LNG, GTL

— Investment in U.S. gas exploration to be at lower end of planned spending

— Company to make further moves into oil-rich shales

By Alexis Flynn

Of DOW JONES NEWSWIRES

LONDON (Dow Jones)–Royal Dutch Shell PLC (RDSA) is actively looking at ways to improve the profits it gets from U.S. natural gas, including seeking out land for a potential gas-to-diesel plant, the company said Thursday. 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.
Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each blog member is allowed limited comments, as displayed above the comment box.
  • Comments must be limited to the number of words displayed above the comment box.
  • Please limit one comment after any comment posted per post.