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Posts under ‘Shell Job Cuts’

BG Group, Gas-Shipping Pioneer, Trades Final Time Before Merger

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Rakteem Katakey: Bloomberg.com: February 11, 2016

BG Group Plc, pioneer of natural-gas shipping, will trade on stock exchanges for the last time on Friday, 19 years after it was created.

The shares will delist Monday as BG becomes a fully owned unit of Royal Dutch Shell Plc following the industry’s biggest acquisition in more than a decade. The stock has increased ninefold since 1997, when former state monopoly British Gas Plc split its exploration and production arm from retail. Shell gained just 15 percent in the period, while BP Plc declined 4.4 percent.

The BG takeover will catapult Shell into second place among the world’s most valuable public oil companies, behind Exxon Mobil Corp. Shell plans to run BG as a subsidiary initially, merging the two companies over the course of a year, according to two officials with direct knowledge of the matter. BG’s assets, including gas projects from Australia to Kazakhstan, will help the Anglo-Dutch energy giant ride out the oil-price slump.

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BG Group posts profit ahead of Shell takeover

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By Tara Cunningham, Business Reporter: 9:16AM GMT 05 Feb 2016

In its final results ahead of its landmark merger with Shell, BG Group has reported a pre-tax profit of $2.98bn, compared with a $2.3bn loss the previous year.

FTSE 100-listed BG is due to be absorbed into the Anglo-Dutch giant by the middle of the month after its shareholders voted overwhelmingly in favour of a £40bn takeover.

Screen Shot 2016-02-05 at 11.21.44In its last year as standalone company, BG managed to limit the impact from plunging oil prices to a 16pc drop in revenue for the year, racking up sales of $16.2bn.

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Shell to cut 10,000 jobs as profits plunge by 80 per cent

Screen Shot 2016-02-05 at 11.00.27Tom Bawden Environment Editor: 5 FEB 2016

Shell yesterday confirmed plans to cut 10,000 jobs now that its takeover of rival BG Group is set to go through, and raised the prospect of further redundancies, as it reported an  80 per cent slump in profits to a 13-year low.

Two days after BP announced its biggest-ever annual loss, Shell revealed that its profits had fallen to $3.8bn (£2.6bn) last year, from $19bn in 2014. The industry has been rocked by a sustained slump in the oil price, from $115 a barrel in the summer of 2014 to $35.41 yesterday. 

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Shell’s Profit Down 56 Percent on Depressed Oil Prices

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Screen Shot 2016-01-14 at 00.11.12Shell’s Profit Down 56 Percent on Depressed Oil Prices

By STANLEY REEDFEB. 4, 2016

LONDON — Royal Dutch Shell became the latest big energy company to file a damage report on the impact of depressed oil prices on Thursday, saying that its adjusted profit fell 56 percent in the fourth quarter of 2015 compared to a year earlier.

Shell said earnings adjusted for inventory changes were $1.8 billion, down sharply from $4.2 billion in the comparable period of 2014.

For 2015, Shell’s earnings fell 80 percent to $3.84 billion, compared to $19 billion in 2014.

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Shell Profits Plunge By 80% Amid Oil Slump

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Shell is pressing ahead with a £36bn ($52bn) merger with exploration group BG. It has said 10,000 jobs will go across the two companies as a result. The deal has been approved by shareholders and will complete later this month.

The industry has been hammered by the collapse in the world energy market which has seen the price of a barrel of Brent crude dive by three-quarters from $115 in the summer of 2014 to around $30 at the start of this year.

Mr van Beurden said Shell was seeing “substantial changes”, slashing costs and investment in response to the slump – and warned that more cuts could come.

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Shell and BP brace for profit massacre

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THE carnage unleashed by the crash in crude prices will be laid bare this week when Britain’s biggest energy companies unveil plunging profits, billions in write-downs and confirm thousands of job losses.

FULL ARTICLE

Shell gets green light for merger with BG Group to create world’s biggest liquefied gas trader

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By LAURA CHESTERS FOR DAILY MAIL: 28 JAN 2016

Royal Dutch Shell’s mega-merger with gas giant BG Group looked set to be approved yesterday, creating the world’s biggest liquefied gas trader and boosting bankers’ bonuses.

The £35billion deal got the go-ahead from Shell investors yesterday with 83 per cent of those voting backing the deal.

Today BG group will announce the result of its shareholder vote. For the deal to go ahead more than 75 per cent must approve it.

The completion of the deal – expected next month – will see a windfall of £106million of fees for various advisors on the deal including £76million to be shared by top investment banks including Bank of America Merrill Lynch, Goldman Sachs and Rothschild.

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Pink Slips at Shell Oil

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Shell Oil must cut all Contractors from WIPRO, ACCENTURE AND IBM since these contractors are all under performers and these Wipro, Accenture and IBM Contractors are not having relevant experience but they bring all freshers/ Zero experienced people to work on IT projects and claim huge hourly rate that is equal to be paid for highly experienced people.

These WIPRO, ACCENTURE AND IBM companies including its PMO staff must be fired immediately to save future investments on business improvements.

The work/task that can be completed in one day will be completed in 10 days by these Contractors since they get paid for all these days and Looks like Shell Oil is paying for under performed employees that needs to be paid for highly performed employees.

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SHELL JOB CUTS

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POSTED ON OUR SHELL BLOG: 20 JAN 2016

As one of the many let go by Shell in the recent cull in November I was not impressed by the way senior leaders clung to their jobs.

This is now going to get even worse in my opinion as Shell announces more job losses.

Even the inmates will be turning on each other as there is nobody left in the asylum and yet strangely the senior leaders still remain in place.

The same senior leaders who got us into this mess seem to think they are the best to get Shell out of it. Good luck boys, its great watching from the outside for a change.

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Shell to cut 10,000 jobs in drive to slash costs

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Screen Shot 2015-12-23 at 09.03.45By Sara SjolinPublished: Jan 20, 2016 3:42 a.m. ET

Royal Dutch Shell PLC RDSB, -4.82% RDS.B, -1.28% plans to cut 10,000 jobs in an effort to further reduce costs amid a severe slump in oil prices. The Anglo-Dutch energy company said in its trading update on Wednesday it had slashed operating costs by $4 billion in 2015 and that it expects further reductions of $3 billion in 2016. Shell also said profit fell by as much as 50% in the fourth quarter, sending the shares down 4.2%.

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BP to Cut 4,000 Jobs as Oil Prices Continue to Fall

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By STANLEY REEDA version of this article appears in print on January 13, 2016, on page B3 of the New York edition

LONDON — The persistent plunge in oil prices has translated into a new round of industry job cuts.

The British oil giant BP said on Tuesday it would eliminate 4,000 of the approximately 24,000 positions in its exploration and production units this year. That would be in addition to about 4,000 jobs that the company cut last year, when it trimmed its work force to about 80,000.

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Shell’s BG Deal Gets Backing of Shareholder Advisory Firm

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By Rakteem Katakey: Jan 8, 2016: Bloomberg.com 

Royal Dutch Shell Plc has won the backing for its takeover of BG Group Plc from a body that advises many of its largest shareholders.

Shell’s biggest ever deal has “compelling strategic rationale” and “significant positive economics to be realized within a relatively short time frame,” Institutional Shareholder Services said in a report dated Thursday. “Support for this transaction is warranted.”

Shell is on the brink of pulling off its biggest acquisition, but oil’s collapse to less than $35 a barrel from about $55 on the day the deal was announced in April has prompted some investors to question whether the company is paying too much. The energy producer has justified the deal by saying it would boost its ability to maintain dividends, make it the world’s largest LNG producer and give it new assets from Australia to Brazil.

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REPORT CRITICAL OF SHELL OVER SWITCH IN NORTH SEA HELICOPTER FIRMS

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Screen Shot 2015-11-20 at 08.55.47See Air Transport Feedback No116 at www.chirp.co.uk

The Confidential Human Factors Reporting Programme is critical of Shell giving helicopter operator Dancopter short notice of contract termination as they move the flying to CHC Helicopters threatening high pilot stress and a disincentive to report ill that they liken to Germanwings. 

CHIRP don’t name the companies but they are discussed at www.pprune.org in a thread entitled Shell Southern North Sea Contract 2012 which stated when Shell dropped Bristow (who had the contract for 14 years) for Dancopter.  

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Royal Dutch Shell – Time to Pull the Plug

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Shell is expected to make some of the biggest announcements, as it tries to create a leaner structure following the $70 billion acquisition of BG Group.

In fact, The Hague-based group will look to liquidate $30 billion worth of assets once the megadeal is finalized. Shell is already believed to have sold properties worth around $20 billion during the 2014-2015 timeframe. It’s part of the company’s efforts to strengthen its financial position and earn considerable cash flow for the shareholders in the years to come. Toward this goal, Shell has also announced plans to cut 6,500 jobs (or 7% of its global workforce). 

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Royal Dutch Shell: Investors Should Reconsider Support of BG Deal

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By Mushhood Khan on Jan 5, 2016 at 9:46 am EST

Just as Royal Dutch Shell plc (ADR) (NYSE:RDS.A) edges closer to its $50 billion takeover of BG Group, investors are losing confidence in the company.

Shell has secured regulatory approval from related authorities across the globe; the deal now only requires the shareholders’ vote, which will be obtained later this month. With oil prices trading at record lows, fund managers who own stakes in both BG and Shell, have reduced their share in the former.

Capital Group, one of the world’s leading investment groups, sold off majority of its stake in the BG deal during December. According to its securities filings, the Group sold around $600 million of BG shares last month, bringing down its stake from 2.2% to 0.9%.

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Shell’s finance chief tries to persuade investors into £36bn BG merger deal despite oil prices plunge

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By LAURA CHESTERS FOR THE DAILY MAIL: 5 JAN 2016

Royal Dutch Shell’s finance boss Simon Henry has just returned from the ski slopes. The first week back after New Year is usually slow as people readjust to the office.

But for Henry and chief executive Ben van Beurden there is no time to waste. The pair are straight into endless rounds of shareholder meetings.

They are trying to convince investors to agree to Anglo-Dutch giant Shell swallowing BG Group in a £36billion deal.

The deadline is the two big shareholder meetings set for January 27 and 28 when investors vote, and it needs 50 per cent of its shareholders to approve the mega-deal. 

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Further doubts over Shell/BG deal

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Screen Shot 2015-12-23 at 09.03.45…the deal doesn’t make financial sense unless Brent crude is sustained at around $60 a barrel.

By Mark Robinson: 29 December 2015

Midway through December, Chinese anti-trust regulators granted unconditional clearance to the proposed £47bn merger between BG Group

(BG.) Royal Dutch Shell (RDSB). The decision effectively removed the final regulatory hurdle, although the deal is still subject to shareholder approval at meetings that are expected to be convened on 27 and 28 January 2016, respectively.

With anti-trust strictures no longer an issue, you would imagine that final approval would amount to a formality, but some industry analysts have questioned whether the terms of the offer still represent fair value in light of reduced assumptions on energy prices through 2016. Spot prices for Brent crude are down by a third since the proposal was announced back in April, so it’s perhaps understandable that there are gathering reservations about the deal.

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Shell chief executive Ben van Beurden needs a Christmas miracle

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By GEOFF HO: Dec 27, 2015

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With the price of oil languishing below $40 per barrel Ben van Beurden needs a miracle

Screen Shot 2015-12-28 at 20.29.12With the price of oil languishing below $40 per barrel he requires prices to start rising in order to save his £47billion takeover of BG Group. When Van Beurden announced the deal in April, a number of Shell’s investors had doubts because of the valuations involved. Those doubts have since become full-blown fears, as the oil price has fallen through the floor.

To be fair to Shell, there is merit to the deal. BG will provide it with quality assets and enough free cash flow to reinforce its under-pressure dividend. It has also identified billions of cost savings. However, the takeover is predicated on the oil price being at $60 to $70 a barrel and the slump has completely changed the economics of the BG deal.

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ALEX BRUMMER: Shell-BG deal no longer makes economic or industrial sense and should be rejected by long term investors

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ALEX BRUMMER FOR THE DAILY MAIL26 December 2015 

Unlike the Kraft Cadbury takeover in 2010-11, which stretched over the Christmas holiday, the Shell bid for BG is unlikely to have families choking on their ‘Fruit & Nut’ bars.

Indeed, many people won’t even have a clue as to what BG Group – once the exploration arm of British Gas – actually does.

The only time the confusingly named group attracted public attention in recent times was when in late 2014 its board, out of touch with the public mood, proposed to hand new chief executive Helge Lund a £25million pay packet.

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Shell’s BG Yard Sale: Everything Must Go

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Screen Shot 2015-12-23 at 09.03.45By HELEN THOMAS: Dec. 23, 2015 7:05 a.m. ET

Misery loves company. Royal Dutch Shell will probably get a bit of both.

Shareholders, many of whom also own BG stock, are probably better off holding their noses and voting for a deal rather than forcing Shell to walk (and potentially management heads to roll).

More cost and investment cutbacks are inevitable.

FULL ARTICLE

Royal Dutch Shell makes deeper cuts

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By Daniel J. Graeber: Dec. 23, 2015

THE HAGUE, Netherlands, Dec. 23 (UPI) — With the company expecting improved efficiency after merging with BG Group, Royal Dutch Shell said it plans to cut spending for next year more than expected.

Shell published a prospectus and circular related to its $7 billion tie-up with BG Group, one of the largest mergers of its kind since Exxon and Mobil joined in the 1990s.

“The combination with BG is a strong platform to refocus the company, to create a simpler and more competitive Shell,” Shell Chief Executive Ben van Beurden said in a statement. “At the same time, Shell is pulling multiple levers to manage through the current oil price downturn.”

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Shell to take axe to spending, jobs after $US53b BG Group takeover

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BG Group’s Queensland Curtis LNG project will be owned by Shell after the takeover.

Angela Macdonald-Smith: Energy Reporter: 23 Dec 2015

Oil giant Royal Dutch Shell has told shareholders the $US53 billion takeover of BG Group will act as a “springboard to change and reshape” the group, and outlined plans for job and spending cuts, as well as $US30 billion of asset sales that look certain to affect the business in Australia.

In a prospectus issued overnight for the takeover, which is heading for completion early next year, Shell cut expected capital expenditure for the merged group by $US2 billion to about $US33 billion, down 30 per cent from 2014 levels. It also slashed another $US1 billion from Shell’s own capex budget this year, dropping it to $US29 billion.

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Shell’s £40bn takeover of BG Group edges closer despite tumbling oil price and shareholder discontent

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By CITY & FINANCE REPORTER FOR THE DAILY MAILPUBLISHED: 21:55, 21 December 2015

Tumbling oil prices and shareholder discontent have not prevented Royal Dutch Shell’s £40billion takeover of BG Group entering the final stages.

The deal could complete in February after BG applied to the High Court to hold the shareholder meetings to vote on it in the new year.

The tie-up has been unpopular with some investors and experts who argue it does not make sense when the oil price is so low. 

The price of Brent crude plummeted to an 11-year low yesterday as excess supply continued to flood the market. 

Oil production is running close to record highs and Brent futures fell by as much as 2 per cent to a low of just above $36 a barrel, their weakest since July 2004.

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Shell shareholders move to back £35bn takeover of BG

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David HellierTuesday 22 December 2015 

Some of the largest shareholders in Royal Dutch Shell, the giant petroleum and energy group, are expected to publicly back the company’s $53bn (£35bn) takeover of BG amid concern the deal could be sabotaged by those who want it scrapped.

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Shell to Expand CNOOC Petrochemical Venture in Southern China

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Screen Shot 2015-11-20 at 08.55.47By Bloomberg News: December 15, 2015

Royal Dutch Shell Plc. is expanding its petrochemical venture in southern China with China National Offshore Oil Corp.

The two companies signed an agreement Tuesday to double the capacity of their equally held ethylene-cracking facility in Guangdong province to 2 million metric tons a year and add other chemicals units, Shell said in an e-mailed statement. The new facilities are expected to start operation in two years, it said, without providing a figure on the cost of the expansion.

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Shell promises more cuts to win investors over on BG deal

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Michael Bow: 15 Dec 2015

Royal Dutch Shell moved to shore up support for its £35bn BG Group takeover yesterday, by promising to slash more jobs amid concerns shareholders could rebel against the deal. 

The Anglo-Dutch oil giant will axe a further 2,800 jobs around the world on top of 7,500 roles it had previously announced were for the chop.

The losses – equivalent to 3 per cent of the combined group’s workforce – coincide with the final furlong of the long-running takeover saga, which has been put under pressure due to this year’s oil price rout. 

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Royal Dutch Shell plans 2,800 extra job cuts after BG deal

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Royal Dutch Shell has said it will cut 2,800 jobs if its planned takeover of BG Group goes ahead, about 3% of the combined group’s workforce.

The proposed job cuts are in addition to the 7,500 job losses Shell announced in July.

The tie-up between Shell and BG deal is due to be completed early next year.

However, an institutional investor has told the BBC that the deal does not make “financial sense” at current oil price levels.

David Cumming, head of equities at Standard Life Investments, told the BBC it was “very difficult to make the deal work” with oil below $40 a barrel, saying oil prices needed to be $60-$70 a barrel.

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Shell sees reduction of about 2,800 jobs after BG deal

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Reductions are in addition to previously announced plans to reduce Shell’s headcount and contractor positions by 7,500 globally.

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Markets | Mon Dec 14, 2015 5:35am EST

* Shell updates on its intentions for Shell-BG combination 

* Expectation is that BG’s business would be integrated into Shell’s businesses

* With regards to office footprint rationalisation in UK, Shell will, following deal completion, undertake a comprehensive review during course of 2016

* Deal remains on track for completion in early 2016.

* Expects BG restructuring will be required to achieve expected benefits of recommended combination

* Reductions are in addition to previously announced plans to reduce Shell’s headcount and contractor positions by 7,500 globally.

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Shell’s New Zealand review sign of rationalisation as BG merger moves closer

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Screen Shot 2015-11-20 at 08.55.47Written by Niamh Forrest – 11/12/2015 7:41 am

Oil major Shell is shifting to portfolio rationalisation as the move to a merger with BG Group nears one step closer, according to a leading analyst.

Tom Ellacott, from Wood Mackenzie’s Corporate Analysis team, said a combined portfolio between the two companies will now be defined by its geographical reach.

He said up to five country exits could be on the cards.

Shell has been in New Zealand for more than 100 years with an 84% stake in the Maui field.

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Shell Cutting Salaried Positions At Corunna

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Screen Shot 2015-11-20 at 08.55.47By Dave Dentinger on December 8, 2015: BLACKBURNNEWS.COM 

Shell Canada is cutting an unspecified number of salaried positions at its Corunna refinery in 2016 to remain competitive in a challenging economy.

Spokesman Randy Provencal says he can’t get into numbers at this point but the reductions will affect employees like engineers and office support staff and not hourly workers.

“The employees who are working in the plant, running the plant, they’re not impacted by these staffing reductions,” says Provencal.

“Shell is taking the necessary steps to ensure our manufacturing site here in Corunna is competitive through all economic cycles, right now what we’re doing is exploring a number of efficiencies which will result in some staff reductions in the coming year.”

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For Shell and BG, All Roads Lead to Lower Spending

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Screen Shot 2015-11-29 at 20.02.58By HELEN THOMAS: Nov. 29, 2015 2:00 p.m. ET

Royal Dutch Shell can’t forcibly renegotiate the deal it struck in April to buy oil and gas producer BG: The U.K. Takeover Panel wouldn’t allow it. And amid griping over the price, the oil major argues the $58 billion cash-and-shares transaction should help its cash flow regardless. That may be so. It doesn’t, however, lessen the need for Shell to do more in cutting costs and spending.

FULL ARTICLE

Big Oil Gears Up For $60 Break-even Price As Profits Sink

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Gaurav SharmaOCT 31, 2015

The latest quarterly results season is receding into the accounting archives, with BP, Royal Dutch Shell, Chevron and the keenly anticipated numbers of Exxon Mobil now with us.

That lower oil prices continue to dent profits at the world’s biggest oil companies is no longer news. Figures on their often unloved downstream operations performing well bring a few smiles and keep detractors of the integrated model quieter than usual.

Take big beast Exxon, which reported quarterly profits of $4.24bn, down 47% on an annualized basis from the same quarter last year. Its profits from refining doubled to about $2bn, but upstream takings fell 79% to $1.4bn. Prior to Exxon, smaller rivals (e.g. – BP, Shell and Chevron) had all posted declines in headline quarterly profits earlier in the week. Yet read between the lines of the profit declines, and a common message on how to cope seems to be emerging.

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Cash Crunch Clouds Future for Oil Firms

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By SARAH KENT and JUSTIN SCHECK: Oct. 25, 2015 

At Shell, Chief Executive Ben van Beurden has said he was “pulling out all the stops” to protect the dividend. At the same time, he has flagged the potential for even deeper cuts at his company, based in The Hague.

“I think in the end, the success of companies like us is going to be determined by our ability to drive down cost,” Mr. van Beurden said in a June interview. If they can’t do that, people “will not like to invest in us.”

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Why Shell is facing issues in Asia

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I’m a sub sub contractor making a living with a few men

Shell just terminated a main contractor on their projects. They lost money, time, reputation. Today I was told by my subcon who had a contract with Punj Lloyd that Shell terminated that contract and closed the site and thus my contract is now terminated. It’s not just me but hundreds of subcon and sub sub cons plus over thousand employees

Why Shell is having issues? Big ego and big I am god I do no wrong attitude. All the contractors and sub sub already inform Shell Punj Lloyd can’t make it but in order to cut cost they use Punj Lloyd and Soo many issues hide under the rug (of course now audit by Shell, Shell will say it’s above board- then why delay and quality bad?)

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Shell to cut 1,300 jobs in Malaysia over two years

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By Collin Eaton: 29 Sept 2015

HOUSTON — Royal Dutch Shell’s oil unit in Malaysia said it will cut 1,300 jobs, or about 20 percent of its Malaysian workforce, over the next two years as it restructures itself.

Shell Malaysia said Tuesday it is trying to become a more efficient company but gave few details beyond disclosing the coming staff reductions. It said it has made “adjustments” to its upstream portfolio but didn’t elaborate.

“Shell Malaysia is preparing itself to be more competitive in a low oil price environment,” Shell Malaysia Chairman Iain Lo said in a written statement. “Continuing business as usual is not sustainable. We are taking difficult, but necessary action.”

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How Royal Dutch Shell Is Addressing Its Dividend Concerns

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Screen Shot 2015-08-04 at 22.49.59Christopher F. Davis: Sept 3, 2015

Summary

  • This article is a follow-up to my prior article addressing the company’s dividend concerns.
  • History won’t always repeat itself, so I felt I would talk about what the company is doing in detail and expand on my thoughts.
  • I am betting history continues.

As you know, Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) has been crushed in the last three months, and of course, over the last year since oil began its sell-off. At the time of this writing, oil is hovering around $40 and oil stocks have come off of their lows from last week. However, it could get worse before it gets better. Last week I wrote an article that addressed the Royal Dutch Shell dividend concerns. It was a highly controversial article, to tell you the truth. But it is important. The stock has a 7.5% yield right now. It did NOT raise its dividend to get here. It is not a red flag dividend. It is a result of rampant selling in the oil sector.

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Royal Dutch Shell Is Now A 7.54% Dividend Yield Monster

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Screen Shot 2015-08-13 at 11.35.25Aug. 24, 2015 6:45 PM ET

Summary

  • Stock market downturn takes Shell’s dividend yield to an astonishing 7.54%.
  • The dividend looks reasonably safe.
  • High initial yield but little growth expected in coming years.

Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) doesn’t need an introduction. This Anglo-Dutch multinational is one of the largest, integrated oil & gas majors in the world. Its share price has dropped nearly a quarter since the start of the year, pushing its dividend yield ever higher. While commonly regarded by many DGI investors as lesser quality than Exxon Mobil (NYSE:XOM), I believe the current market situation highly favors including this stock in the energy component of your dividend portfolio.

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Inside Shell’s Extreme Plan to Drill for Oil in the Arctic

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by Paul Barrett and Benjamin Elgin: 5 August 2015: BLOOMBERG.COM

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Protesters near the Polar Pioneer.: Photographer: Keri Coles/Greenpeace

Ann Pickard

Ann Pickard – Shell VP Arctic Drilling

In a windowless conference room in Anchorage, a dozen Royal Dutch Shell employees report on the highest-profile oil project in the multinational’s vast global portfolio. Warmed by mid-July temperatures, Arctic ice in the Chukchi Sea, northwest of the Alaskan mainland, is receding. Storms are easing; helicopter flights will soon resume. Underwater volcanoes—yes, volcanoes—are dormant. “That’s good news for us,” Ann Pickard, Shell’s top executive for the Arctic, whispers to a visitor.

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Almost all of BG employees, even senior management expect to be let go

Screen Shot 2015-07-31 at 19.22.09EXTRACTS FROM ANONYMOUS POSTINGS ON WEBSITE: thelayoff.com

UNDER THE HEADING:

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EXTRACTS

It’s Official SHELL to layoff 6500 employees

Also this 6500 number doesn’t count the contractors and BG employees. Almost all of BG employees, even senior management expect to be let go.

Anonymous127132

20 days ago (Sun 07/12/15 07:47:56 UTC)

Shell Houston Secret Reductions

While Shell maintains that it is not laying off people we have seen a drastic decrease in contractor pay and termination of contracts in order to save displaced staff jobs. Within the staff community they are forcing retirement and artificially combining roles while making personnel reapply for their own positions against applicants outside the discipline. We are even seeing forced performance improvement writeups over petty and many times made up infractions in an attempt to leverage terminations in the near future. It’s a scary, unfair, and possible illegal practice that will come back to bite them.

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Royal Dutch Shell Profits Continue to Fall, Prompting 6,500 Layoffs By

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By STANLEY REED: JULY 30, 2015

LONDON — Royal Dutch Shell said on Thursday that its profit fell sharply in the second quarter as a strong performance in marketing and refining failed to offset the brunt of lower oil and gas prices.

The oil giant also said it would cut its capital investment and eliminate 6,500 jobs as the drop in oil and gas prices squeezes its vast global exploration and production operations.

The company, based in The Hague, said earnings adjusted for inventory changes and excluding one-time items were $3.8 billion, compared with $6.1 billion in the same period in 2014.

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Shell to cut jobs, spending to cope with lower oil prices

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Screen Shot 2015-07-30 at 08.23.47LONDON | BY RON BOUSSO AND KAROLIN SCHAPS: 30 July 2015

Royal Dutch Shell on Thursday reported a 37 percent drop in second quarter profits and said it would cut 6,500 jobs this year and reduce spending further to deal with an extended period of lower oil prices.

The Anglo-Dutch oil and gas company also said it was planning more asset disposals alongside its proposed $70 billion acquisition of BG Group, bringing total asset sales between 2014 and 2018 to $50 billion.

“We have to be resilient in a world where oil prices remain low for some time, whilst keeping an eye on recovery,” Chief Executive Officer Ben van Beurden is set to tell investors later in the day, according to the company.

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Shell to Cut 6,500 Jobs, Reduce Investment by $7 Billion

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By Rakteem Katakey: July 30, 2015″ BLOOMBERG.COM

Screen Shot 2015-07-30 at 08.23.47Royal Dutch Shell Plc, the oil producer buying BG Group Plc for more than $70 billion, said it plans to cut 6,500 jobs this year and reduce capital investment by $7 billion.

Shell is planning for a “prolonged downturn,” the company said Thursday in a statement. Its dividend commitment will remain unchanged at $1.88 per share this year, with at least that amount paid in 2016, the company said.

Second-quarter profit adjusted for one-time items and inventory changes dropped to $3.8 billion from $6.1 billion a year earlier, The Hague-based Shell said. That beat the $3.4 billion average estimate of 16 analysts surveyed by Bloomberg.

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Royal Dutch Shell to cut 6,500 jobs

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Screen Shot 2015-07-30 at 08.23.47Oil giant Royal Dutch Shell has announced it is to shed 6,500 jobs as part of cost cutting plans.

30 July 2015

The company said the cost cutting was to help “mitigate the impact” on profits amidst a drop in oil prices.

Its “prudent approach” included a reduction in operating costs of $4bn and reduced oil exploration operations.

The company announced profits of $3.4bn in the three months to 30 June, a 35% decrease compared with last year.

Shell also said that it was “planning for a prolonged downturn” in oil prices.

Shell chief executive Ben van Beurden said: “We have to be resilient in a world where oil prices remain low for some time, whilst keeping an eye on recovery.

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Shell to lay off staff, contractors in Norway

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Shell to lay off staff, contractors in Norway

Thu Apr 23, 2015 3:29pm GMT

OSLO, April 23 (Reuters) – Oil producer Royal Dutch Shell will lay off 120 of its 900 workers in Norway and reduce its contractor force by 140 from 350, as low oil prices force it to cut costs, it said on Thursday.

Shell said 100 of the staff cuts would be at its headquarters in Stavanger on Norway’s west coast while 20 jobs would be eliminated at its operations department in Kristiansand.

Oil firms in Norway are expected to cut investments by around 15 percent this year, the industry’s lobby group predicted earlier. Spending could fall further in 2016 as energy firms hold back future developments after crude prices halved.

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Shell to cut more UK North Sea jobs in 2015

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Thursday 26 March 2015

(Reuters) – Royal Dutch Shell (RDSa.L) is planning further job cuts in its UK North Sea oil and gas business in 2015, the company said on Thursday, just a week after a package of tax cuts from the Treasury aimed at encouraging growth in the industry.

“Shell UK plans to reduce the number of staff and agency contractors who support the company’s UK North Sea operations by at least 250 in 2015,” Shell said in an emailed statement.

The reduction is in addition to 250 job losses announced in August, Shell said, and follows North Sea job cuts by BP (BP.L), Talisman Sinopec, Chevron and ConocoPhillips.

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Why Shell Withdrew Application For Pierre River Oil Sands Project

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By: MICHEAL KAUFMAN

Published: Feb 24, 2015 at 7:48 am EST

Royal Dutch Shell plc (ADR) (NYSE:RDS.A) indicated on Monday that it has withdrawn the application to develop Pierre River Oil Sands in northern Alberta. The oil sands mine was first proposed by Shell Canada in 2007.

The Pierre River oil sands are estimated to produce around 200,000 barrels of oil per day. The company had earlier expected to finish the project’s construction by 2010 and production was expected to initiate by 2018. Last year, Shell specified that it had to reassess the development timeline of the project and asked the regulatory authorities to halt the review for the time being.

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Royal Dutch Shell slashing North Sea jobs

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250 full time Shell employees and contractor staff in Aberdeen will be culled over the next year. 

According to a Shell spokesperson:

Shell is reorganising its operations to better serve the needs of its offshore facilities and to build a stronger long-term business in the North Sea. Following staff consultation, Shell expects to reduce employee and contractor headcount by a total of around 250 positions over the next year. Revisions to the onshore organisation will be implemented by the end of 2014. Shell is determined to ensure that it continues to deliver safe, competitive operations in its North Sea portfolio and maximises value from its operated assets.

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How Shell’s cutbacks will feel in Houston

Screen Shot 2014-02-10 at 16.29.29Extract from an article by Jordan Blum published by Houston Business Journal on 16 March 2014

Shell is cutting about 400 people — out of about 1,800 total — from its onshore North American operations. But Shell spokeswoman Kayla Macke emphasized that most of those 400 employees will be “redeployed” to other Shell projects.

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Shell Oil fading

Screen Shot 2013-11-13 at 07.38.22Extracts from an article by Robert Magyar published 15 March 2014 by examiner.com under the headline: “Shell Oil fading in the Pennsylvania Marcellus”

A new analysis of the second half 2013 Pennsylvania Marcellus shale oil and gas production shows the vast majority of Royal Dutch Shell’s 630 wells are under performing compared to its peers. In northeast Tioga County, Shell’s wells are producing at less than half the rate of its area competitors. Its more bad news for Shell as its new CEO Ben Van Beurden announced on Thursday the company would cut its spending in onshore U.S. operations by 20% and begin selling off assets. Shell purchased its Marcellus shale holdings by buying Terry Pegula’s East Resources Inc. back in 2010 for $4.7 billion. By early 2013, Shell took a $2.1 billion write down on its U.S. shale operations.

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Shell will cut U.S. jobs

Screen Shot 2014-03-14 at 00.25.04Extract from an article by Josh Cain published 14 March 2014 by Houston Business Journal under the headline: Shell will cut oil field spending, U.S. jobs after disappointing shale plays

Royal Dutch Shell Plc (RYSE: RDSA), the oil and gas giant with a massive presence in Houston, said on March 13 that it would cut jobs and oilfield spending in the U.S. in light of disappointing returns from several shale plays.

FULL ARTICLE

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