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Posts under ‘Shell Oil Reserves Scandal’

Ben van Beurden will need more than PR skills to navigate Shell’s choppy seas

Ben van Beurden gave a flawless performance last week as he stepped onto the public stage for the first time as chief executive of Shell and sought to explain how the company had cut its annual profits in half despite a year of sky-high oil prices. He should have been torn limb from limb, but […]

CFO Simon Henry: Just how many lives has this Shell fat cat got?

Simon Henry was CFO when the ship was set on its disastrous course of over-promise and under-delivery, beset by project delays and cost overruns, resulting in the recent profits warning and the dramatic advice just issued by Zacks Investment Research that Royal Dutch Shell Plc is “a risky bet that ordinary investors should exit.” He […]

New Shell boss spooks market with warning

By Kate Holton: LONDON Fri Jan 17, 2014 7:26am EST Shell warns of ‘significant’ profit miss (Reuters) – Royal Dutch Shell (RDSa.L) issued a “significant” profit warning on Friday, detailing across-the-board problems and the extent of the challenges facing the oil major’s new boss Ben van Beurden, who took over two weeks ago. The warning […]

Royal Dutch Shell Profits Slump Debacle

Based on our insider information, we, and only we, raised the question of whether Royal Dutch Shell CEO Peter Voser jumped ship or was pushed. I think we now have the answer that explains his unexpected early retirement under the cloak of a change of lifestyle. How do you know that Shell is run by […]

ROYAL DUTCH SHELL PROFITS WARNING DEBACLE

Message from one of our sources… John How many warnings did we give about taking the financial hits in the final quarter before Voser left? And yet the analysts are surprised! (AND THIS MARKET SHOCKING NEWS ALMOST EXACTLY TO THE DAY, ON THE TENTH ANNIVERSARY OF WHEN NEWS FIRST BROKE OF THE ROYAL DUTCH SHELL […]

Shell has that haunted look

THE TIMES: 1 November 2013 It is almost a decade since the reserves scandal exposed the old stock market adage “Never Sell Shell” as being rather less than failsafe. Yesterday’s results statement, appropriately scary for Hallowe’en, reinforced that, with third quarter earnings coming in a fifth lighter than the market was expecting for a second […]

Shell’s giant floating refrigerator to tap new gas reserves

Chief executive Peter Voser tells Emily Gosden why the massive Prelude vessel is a game-changer By Emily Gosden, in Geoje, South Korea 6:00AM BST 21 Oct 2013  Peter Voser is surveying the view from the Prelude vessel, which he has just boarded for the first time. “Now you see the difference,” he says, pointing out […]

Speculation on hostile bids for Royal Dutch Shell?

Posting by “Outsider” on our Shell Blog Wed, 9 Oct 2013. 10.08 am It is common knowledge that BP, Exxon and Total (and possibly others) planned hostile bids for Shell after the reserves fiasco. Shell’s current under-performance in comparison with the market, together with huge write-offs on unconventionals and the Arctic suggest that some of […]

Financial Times Assessment of Peter Voser

…doubts about the performance of Shell have become more evident recently after Shell announced a 20% drop in second-quarter profits, plus losses and write downs in North America and disillusion with Shell’s big spending plans. Voser admits that Shell’s Upstream Americas business was in the red and that exploration results in US shales are disappointing. […]

RTE Radio 1: Philip Boucher-Hayes investigates the OSSL allegations

By John Donovan As can be seen from the transcript of a Drivetime segment broadcast on RTE Radio 1 yesterday evening, Shell has been cornered into making what is described as a much more robust denial of the allegations made by its former “Mr Fixit” in Ireland, OSSL. In so doing, Shell appears to have […]

Ben van Beurden is a Shell insider who made late rise to the top

FINANCIAL TIMES July 9, 2013 10:16 am Ben van Beurden is an insider who has made late rise to the top By John Aglionby He worked as private assistant to the chairman, Phil Watts, from 2002-2004, including during the 2004 accounting scandal, when it emerged Shell had overstated its oil reserves. This led to a […]