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Posts under ‘Daily Express’

Oil giant Shell set for further cost cuts

By GEOFF HO: Published Sunday January 25, 2015   Royal Dutch Shell chief executive Ben van Beurden will outline how the company plans to deal with the collapse in crude oil prices when he unveils its results on Thursday. The oil giant is expected to reveal further cost-cutting measures alongside a 4.6 per cent fall […]

How could Shell have got it so wrong on oil? 

In October of this year, just 9 weeks ago, when oil was at over $90 a barrel, Shell CEO Ben van Beurden expressed his confidence that oil would return to what he described as “very robust” pricing. He said that the oil price had been remarkably stable and that in the short term, Shell has […]

UK News Reports Royal Dutch Shell Quarterly Result

DAILY EXPRESS: Oil giant Shell floats as prices sink Extracts ROYAL Dutch Shell unleashed an industry-beating rise in quarterly profit yesterday, despite falling oil prices, and vowed to keep slashing less-lucrative projects. Finance chief Simon Henry said: “It’s quite likely we’ll take a very close look at investment levels where we have flexibility if we […]

Shell CEO dubious prediction on oil prices

Today we have another forecast from a Chief Executive of Royal Dutch Shell Plc, no doubt based on an assessment by the crystal ball gazers at Shell, the famed Scenarios team. Is it a case of wishful thinking on the part of Shell? Can we have faith in the prediction made by the current CEO? By […]

Oil giant Royal Dutch Shell to see profits slump by 38 per cent

Extract from a Sunday Express article by: Helen Massy-Beresford published Sunday, April 27, 2014 Royal Dutch Shell is expected to report that its profits have slumped 38 per cent year on year to $4.6 billion (£2.7 billion), when it unveils its first-quarter results on Wednesday. As part of his turnaround plans van Beurden has pledged to improve cash […]

How much reliance can be placed on Royal Dutch Shell predictions?

How much reliance can be placed on predictions emerging from Shell scenarios team? Very little if past accuracy of Shell predictions is any guide. Six years ago the then head of Royal Dutch Shell, the clueless Jeroen van der Veer predicted that the world would begin to run out of oil within 7 years – […]

BP and Shell profits set to fall by billions

Shell will report that its net earnings have fallen 25 per cent to £4.9 billion, due to its struggles with spills, theft and disruption at its Nigerian operations, as well as higher exploration costs and a weak refining and petrol market. “Unfortunately, ongoing issues in Nigeria, higher exploration charges, losses in Upstream Americas plus a […]

Links to a selection of Shell related articles

Links to a selection of current Shell related articles kindly supplied by a regular contributor Montepeque of Platts Caught in Battle Over Oil Assessments: Bloomberg: The oil-market investigation became public in May when European … Royal Dutch Shell Plc (RDSA), three of Europe’s largest oil companies, … Shell will keep oil shale R&D, sell its other Colorado […]

Shell ‘shuts down £8.3bn project in China’

Royal Dutch Shell is likely to face questions over the future of its operations in China after sources claimed an £8.3bn project in the country had been quietly shelved. The cancellation of the project in the eastern city of Taizhou will raise doubts about Shell’s bold push into China and its partnership with CNPC. Shell […]

Blaze hits Shell plant in Texas

Published: Tue, August 20, 2013 ROYAL DUTCH SHELL has shut down parts of a refinery in Port Arthur, Texas, after a fire broke out following a £6.4billion expansion scheme. Shell closed units at the Motiva refinery, which is run by a joint venture of the oil giant and Saudi Refining, after the second blaze in […]

Shell shock as new boss is appointed

ROYAL DUTCH SHELL sprang another surprise on the City yesterday by naming its head of refining Ben van Beurden as its new chief executive to succeed Peter Voser next January. Published: Wed, July 10, 2013 Dutchman Van Beurden, 55, who has been with the Anglo-Dutch oil giant for 30 years but only appointed to the […]

All the worst Shell traits – secrecy, haughtiness, inertia

 From our Shell News Archive Sunday 31 October, 2004 The fallout from the Shell reserves fraud continues… The Independent On Sunday (UK): Business View: Shell’s real location problem is finding more black stuff: “The misreporting of reserves scandal showed all the worst Shell traits – secrecy, haughtiness, inertia.”: “So what’s the hurry? Was it because […]

A DREADFUL DAY FOR SHELL SHAREHOLDERS, ESPECIALLY UK SHELL SHAREHOLDERS

FROM OUR OCTOBER 2004 SHELL NEWS ARCHIVE Friday 29 October, 2004 – A DREADFUL DAY FOR SHAREHOLDERS IN SHELL TRANSPORT AND TRADING COMPANY PLC The Times (UK): The Hague for head office: “ALTHOUGH it maintains otherwise, Shell is effectively going Dutch…”: “From May, the big decisions will be taken by a new board in The […]

OIL GIANTS BACK IN BLACK AS CRUDE RISES

By Geoff Ho: Sunday October 28,2012 OIL giant BP is expected to return to profit this week when it reports its third-quarter results thanks to the rising oil price, while arch-rival Royal Dutch Shell is also set to announce improved profits. BP is expected to make a net profit of $4 billion (£2.5 billion) for […]

SHELL’S ANNUS HORRIBILIS

FROM OUR SHELL NEWS ARCHIVE SEPT 2004 Daily Express (UK): SHELL’S ANNUS HORRIBILIS Published 23 Sept 2004 Jan 9, 2004: Reserves downgraded; shares slump Mar 7: Chairman Sir Philip Watts ousted Apr 19: E-mails about ‘lying’ revealed Apr 24: FSA launches probe Jun 6: Shell forced to speed up structural reform Jul 29: Fined £84m […]

SCOTTISH OIL RIGS IN DIRE STRAITS

Mr Campbell insisted it is only a matter of time before there is another major tragedy in the North Sea. He said: “According to public domain data there were 85 gas releases and 443 dangerous occurrences last year. If you are getting 85 gas leaks that’s one and a half, or two, leaks a week. […]

BOSSES’ SOARING PAY IS SLAMMED

Shell is often at odds with institutional investors over the generous pay packages it gives to its executives, such as boss Peter Voser, who last year took home £4.6 million in pay and bonuses. By Tracey Boles and Geoff Ho: Sunday May 15,2011 THE pay of top earners is spiralling out of control, a high-level […]

SHELL SURGES BUT BP FAILS TO CASH IN ON OIL PRICES

Sunday April 24,2011 By Tracey Boles A DIP in production is expected to stop BP reaping the full benefit of the high oil price in its first-quarter results, out this week. But arch-rival Royal Dutch Shell is forecast to enjoy a surge in first-quarter earnings on the back of the oil price which averaged $105 […]

The Times: Shell chief fears oil shortage in seven years

THE TIMES Carl Mortished, World Business Editor January 25, 2008 World demand for oil and gas will outstrip supply within seven years, according to Royal Dutch Shell. The oil multinational is predicting that conventional supplies will not keep pace with soaring population growth and the rapid pace of economic development. Jeroen van der Veer, Shell’s […]

Daily Express: Boss in Shell scandal starts legal fightback

Daily Express (UK): Boss in Shell scandal starts legal fightback “… Watts’ counsel, David Pannick, claimed Watts could be easily identified by any “reasonable reader”. This was because the notice referred to Shell’s annual report, signed off by Watts, which contained false reserves statements, and to a Shell-commissioned report into the scandal, naming him among […]

Daily Express: Shell pays £52m to help settle reserves actions

Daily Express: Shell pays £52m to help settle reserves actions Posted Tuesday 19 July 2005 By Andrew Johnson Published 13 July 2005 SHELL is close to settling one of the three major class actions it was facing in the US in the wake of last year’s reserves scandal. The Anglo-Dutch oil giant has agreed to […]

Daily Express: Shell Chief’s scientific outlook

Daily Express: Shell Chief’s scientific outlook Friday 24 June 2005 City & Business Editor: Stephen Kahn: email: [email protected] Article by Andrew Johnson CHIEF EXECUTIVE Jeroen van der Veer is to beef up Shell’s science and technology work as part of moves to show there is life after the oil giant’s disastrous recent past. Outlining where […]

Shell News Wednesday, 2 February 2005

Shell News Wednesday, 2 February 2005 DAILY EXPRESS (UK): Drivers fume at Shell’s £25m profit every day: “Shell’s new chief executive, Jeroen van der Veer, is set to make millions from a new pay package deal.” (ShellNews.net) Posted 2 Feb 05 FINANCIAL TIMES: Royal Dutch/Shell: “The mountain that Jeroen Van der Veer, chief executive of […]

Shell News Archive Sunday 28 November, 2004

Shell News Archive Sunday 28 November, 2004 AFX Europe (Focus): Russia’s Gazprom likely to join Sakhalin 2 gas/oil project – report: “Sakhalin Energy, a company based in Yzhno-Sakhalinsk, is promoting the project and is owned 55 pct by Royal Dutch/Shell Group, 25 pct by Mitsui & Co and 20 pct by Mitsubishi Corp.“ (ShellNews.net) 28 […]

From our Shell News Archive 2 November 2004

Tuesday 2 November, 2004 THE NEW YORK TIMES: Crude Futures Hover Near $50 a Barrel: “In Nigeria, Oil giant Royal Dutch/Shell Group opened a court action Monday to try to block a strike targeting oil exports. It failed in a first-round bid to block wildcat strikes or other union action in the meantime. The case […]

FSA urges tribunal to reject Shell boss appeal

Daily Express (UK): FSA urges tribunal to reject Shell boss appeal “The reserves crisis is being investigated by criminal authorities in the US, where Shell is facing civil actions for millions of pounds.” 19 Oct 2004 CITY watchdog the Financial Services Authority is urging an independent tribunal to dismiss an appeal by former Shell boss […]

SHELL’S ANNUS HORRIBILIS

FROM OUR SHELL NEWS ARCHIVE SEPT 2004 Daily Express (UK): SHELL’S ANNUS HORRIBILIS Published 23 Sept 2004 Jan 9, 2004: Reserves downgraded; shares slump Mar 7: Chairman Sir Philip Watts ousted Apr 19: E-mails about ‘lying’ revealed Apr 24: FSA launches probe Jun 6: Shell forced to speed up structural reform Jul 29: Fined £84m […]

Training is the key to avoiding new Shell fiasco

Daily Express: Training is the key to avoiding new fiasco: “SHELL has so far trained more than 2,000 staff to ensure the way they book future oil reserves will meet regulations laid down by the US watchdog, the Securities and Exchange Commission.” Posted 24 Sept 04 SHELL has so far trained more than 2,000 staff […]

Shell pumps in £25bn to restore reputation

Daily Express: Shell pumps in £25bn to restore reputation By Andrew Johnson Posted 24 Sept 04 OIL GIANT Shell is to step up investment by 20 per cent to $45billion (£25billion) for the next three years in a major shake-up designed to restore the group’s battered reputation. More than $34billion has been earmarked for the […]

Daily Express: FAT CATS REWARD: SIR PHILIP Watts

Daily Express: FAT CATS REWARD: SIR PHILIP Watts His deputy, Dutchman Walter van der Vijver, repeatedly warned him of the overstatement and finally exploded in an angry e-mail last November that he was “sick and tired of lying about the extent of our reserves”. Published 28 August 2004 Company: Shell Payoff: £1m Anglo-Dutch oil giant […]

Sunday Express: Shell cuts back on forecourts to boost production

Sunday Express: Shell cuts back on forecourts to boost production “managers hoped the new strategy would draw a line under the reserves-misreporting scandal which triggered the departure of three of Shell’s bosses earlier this year.” By Robin Pagnamenta 22 August 04 SHELL is preparing to unveil a major long-term’ business strategy next month which insiders […]

Daily Express: Shell faces takeover challenge from Total

Daily Express: Shell faces takeover challenge from Total “THE turmoil at Shell has triggered speculation that it could be vulnerable to a takeover or merger” 16 August 04 THE turmoil at Shell has triggered speculation that it could be vulnerable to a takeover or merger, with France’s Total tipped as a contender. Shell has been […]

Sunday Express: All’s well with Cairn in the Indian desert

Sunday Express: All’s well with Cairn in the Indian desert It was an act of stupidity… You don’t sell off your golden eggs like that. Shell’s loss is Cairn’s gain.”: “Oil minnow’s £4m field is worth billions” Oil minnow’s £4m field is worth billions, writes Robin Pagnamenta 15 August 2004 THE contrast between the fortunes […]

WHY SHELL MUST ACT NOW TO CALM TROUBLED WATERS

SUNDAY EXPRESS: WHY SHELL MUST ACT NOW TO CALM TROUBLED WATERS “But restructure may not be enough after scandal, resignation and fines, reports Robin Pagnamenta” But restructure may not be enough after scandal, resignation and fines, reports Robin Pagnamenta JEROEN VAN DE VEER smiled broadly in the cavernous interior of the New York Stock Exchange […]

Daily Express: Shell scandal boss wins £2.5m payoff

Daily Express: Shell scandal boss wins £2.5m payoff “I am becoming sick and tired about lying about the extent of our reserves issues and the downward revisions that need to be done because of far too aggressive/optimistic bookings.” By Andrew Johnson THE former Shell exploration and production boss who admitted lying about the company’s reserves […]

DAILY EXPRESS: BUMBLING SHELL BORDERS ON FARCE

DAILY EXPRESS: BUMBLING SHELL BORDERS ON FARCE “HAPPY memories of Peter Sellers’ portrayal of the bumbling Inspector Clouseau” STEPHEN KAHN CITY EDITOR 13 August 2004 HAPPY memories of Peter Sellers’ portrayal of the bumbling Inspector Clouseau were brought to mind yesterday in Shell’s official response to talk that a merger of its British and Dutch […]

Sunday Express: Shell tipped to join Baltic gas pipeline

Sunday Express: Shell tipped to join Baltic gas pipeline: “Shell is thought to be the most likely partner.” By Robin Pagnamenta 8 August 2004 GAZPROM, the Russian energy giant, is seeking a UK partner for an ambitious multi-billion-pound plan to supply Siberian gas to western Europe via a pipeline across the Baltic Sea. Gazprom is […]

Naval officer son of oil king missing

DAILY EXPRESS: Naval officer son of oil king missing: 1 October 1940 Page 3 EXTRACT Naval officer son of oil king missing Lieutenant Henry Deterding, R.N.V.R. reported missing while serving with the Fleet Air Arm, yesterday, is the son of the late Sir Henri Deterding, the oil king and the man Hitler once described as […]

Oil king will be buried in Germany

Daily Express: Oil King will be buried in Germany: 7 February 1939 Page 11 Oil king will be buried in Germany Daily Express Correspondent GENEVA. Monday.- The two sons of Sit Henri Deterding, the oil magnate, who died on Saturday, were expected to fly to St. Moritz yesterday, but arrived tonight by train with other […]

OIL KING MOVED HIS MILLIONS

Daily Express 7 February 1939 page 11 Divorced, went to live in Germany Daily Express Staff Reporter SIR HENRI DETERDING, the oil king, once estimated to have a personal fortune of £25,000,000, has left practically nothing in England. FULL ARTICLE: Daily Express 6 Feb 1939 Page11