Posts under ‘Oil Company Profits’

Bonus awarded to outgoing chief executive Peter Voser prompts 8% of shareholders to vote against remuneration policy Bumper £8m pay package for Shell boss Peter Voser (Daily Mail Article) Rupert Neate The Guardian, Tuesday 21 May 2013 18.38 BST Shell suffered an embarrassing 10% shareholder rebellion against its executive pay report on Tuesday. Almost 8% [...]

The whistleblower gave Halfon a statement in which he said the price of oil was being deliberately distorted: ‘I trade the oil market on a daily basis and every day the price is manipulated,’ he said. ‘There is ample oil in the system to satisfy demand at the moment. Profiteering seems to be the only [...]

FINANCIAL TIMES By Ajay Makan and Javier Blas in London: May 17, 2013 5:48 pm In simultaneous raids this week on the offices of the oil majors BP, Royal Dutch Shell and Statoil of Norway, and Platts, a leading price reporting agency that helps set energy benchmark prices, the European Commission has fired the starting [...]

Selection of Shell related article links kindly provided by a regular contributor If ‘everyone knew’ the oil market was open to rigging, why did no one …The Guardian-It is worth spelling out that manipulation of the oil market, which could … Statoil, BP and Shell are not just petrol providers – they are major gas … European probe into oil price-fixing widens to Finland: Marketplace.org-May 17, 2013: [...]

Kevin McCoy, USA TODAY4:43 p.m. EDT May 17, 2013 U.S. public concern over a European probe into possible oil price manipulation escalated Friday as the head of the Senate Committee on Energy and Natural Resources urged the Justice Department to join the investigation. The request from Sen. Ron Wyden, D-Ore., came after European Union investigators [...]

  Published: Friday, 17 May 2013 | 3:54 AM ET European anti-trust investigators searched the offices of price agency Platts and at least one major oil company for a third day on Thursday, hunting for evidence of possible price manipulation on oil markets, witnesses said. Authorities raided the London bureau of Platts in Canary Wharf [...]

SELECTION OF SHELL RELATED ARTICLE LINKS KINDLY SUPPLIED BY A REGULAR CONTRIBUTOR IEA forecasts US to account for a third of new oil supplies: Financial Times-The outlook will influence businesses as diverse as major oil companies, including ExxonMobil and Royal Dutch Shell, big commodities traders … Oxford University won’t take funding from tobacco companies. But …: The Guardian-… on research at Manchester University partly to [...]

The London offices of BP and Shell have been raided by European regulators investigating allegations they have “colluded” to rig oil prices for more than a decade. European commission carries out ‘unannounced inspections’ to investigate claims oilcompanies colluded to manipulate prices Rupert Neate and Terry Macalister guardian.co.uk, Tuesday 14 May 2013 19.29 BST The London [...]

BP and Royal Dutch Shell saw their offices raided today as the European Commission launched an investigation into oil price fixing. The Commission said it is concerned there has been collusion aimed at manipulating the prices of not only oil, but also petrol and biofuels.  A bogus market? By This Is Money Reporter PUBLISHED: 16:58, 14 [...]

Chief financial officer Simon Henry was made the front-runner by bookmaker Paddy Power, despite saying it would be ‘inappropriate’ to discuss his candidacy. The Anglo-Dutch firm has not had a British boss since Sir Philip Watts left in disgrace in 2004 after Shell overstated its oil reserves. By Rob Davies: PUBLISHED: 22:14, 2 May 2013 [...]

“After such an exciting executive career I feel it is time for a change in my lifestyle and I am looking forward to have more time available for my family and private life in the years to come.” Royal Dutch Shell chief executive Peter Voser is to step down next year in an unexpected move, [...]

2 May 2013 Oil giant Royal Dutch Shell has reported profits of $7.95bn (£5.1bn) for the first quarter of 2013, up 3.5% from a year earlier. Strong refining and trading performances boosted profits, despite production troubles in Nigeria. The company also announced that chief executive Peter Voser would retire in the first half of 2014. [...]

By DOMINIC JEFF Published on 28/04/2013 00:00 HIGHER natural gas prices in the United States should help Shell rebound from its lacklustre performance at the end of last year when it presents first quarter results on Thursday. Prices have almost doubled since America’s shale gas revolution pushed prices through the floor last year, proving a [...]

By Harry Glass: PUBLISHED: 12:43, 31 January 2013 Shell shares were down 42p (1.8 per cent) at 2,263.5p by mid-day. Its refining operations actually returned to profit in the last quarter, but analysts were more concerned about a 14 per cent fall in earnings from its production division to £2.8billion – the company blamed higher [...]

Thursday, January 31, 2013 By ANDREW PEAPLE Royal Dutch Shell RDSB.LN -2.88% isn’t an obvious candidate for sympathy. The oil and (increasingly) gas major raked in $26.6 billion last year, with Brent crude-oil prices averaging above $100 per barrel. Yet Shell’s full-year earnings were 14% down on 2011 and missed consensus forecasts, while its oil output [...]