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Posts under ‘Simon Henry’

How a Giant Kazakh Oil Project Went Awry

Extracts from a highly informative Wall Street Journal article by Selina Williams, Géraldine Amiel and Justin Scheck published 30 March 2014 …the project has been plagued by budget blowouts, engineering missteps and management disputes extending from offshore roughnecks to top government and corporate leaders. Miles of leaky pipeline make up what is arguably the world’s […]

What you don’t know about Royal Dutch Shell’s Profit Warning

I can exclusively reveal today that the question of whether Shell was legally obliged to issue a profits warning did not first arise in relation to the final quarter. It was raised at the highest levels of Shell and of the Financial Conduct Authority some months earlier, in between the announcement of Peter Voser’s early […]

Ben van Beurden: Surely Shell could have chosen a leader untainted by scandal?

Ben van Beurden was private assistant and adviser to Sir Philip Watts during the two years prior to the shock announcement of the reserves scandal in January 2004, which resulted in a firestorm of devastating news coverage that still reverberates today, 10 years later. This was during the period when false information was routinely given to […]

Shareholders have grounds to bring lawsuits against Royal Dutch Shell Plc?

According to an informed source, there is significant potential for shareholder lawsuits against the directors of Shell on the basis of their failure to control spending, possibly in breach of both their fiduciary obligations and internal corporate procedures. The expenditure of $26 billion on “unconventionals” suggests that in North America spending was completely out of […]

Shell Says EU Energy Regulation Diverts $1 Billion From Trading

Royal Dutch Shell Plc, Europe’s largest oil company, said the European Union’s planned regulation to curb speculation in commodity derivatives may endanger security of energy supply. EU lawmakers have been reviewing the Markets in Financial Instruments Directive, or Mifid, which is “targeted” at financial commodity speculators, said Shell Chief Financial Officer Simon Henry. (right) By […]

Oil drilling on US Arctic coast put on ice

Oil companies’ rush to find reserves off Alaska’s Arctic shores suffered a setback on Thursday after Shell said it would suspend its operations in the region — and possibly withdraw for good. “We will not drill in Alaska in 2014, and we are reviewing our options there,” Shell CEO Ben van Beurden told reporters in […]

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 […]

Shell to Sell Stake in Australian Gas Field

“All too often, Shell’s answer to an issue or problem is that the market is being too short term; that Shell takes the long term view, and that in the long term, the company’s approach will be proved right,” Lucas Herrmann, an analyst at Deutsche Bank in London, wrote in a note to clients on […]

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 […]

Total dips a toe in UK shale but BP and Shell unlikely to follow

The French company trumpeted becoming the “first major to enter into shale gas licences in the UK”, calling it an “important milestone”. But its stance contrasts starkly to that of Shell, whose British chief financial officer Simon Henry said last year it had no desire to be “first in and be in the headlines every day […]

LNG deal ushers in tighter Shell spending regime

In a separate announcement on Thursday, Shell revealed that Voser, who surprised investors last year with news of his early retirement, will be repatriated to his native Switzerland, where he will work for the local subsidiary on his full group chief executive pay and with a full pro-rata bonus. Thu Jan 2, 2014 11:02am EST […]

Shell CEO Peter Voser: Did he jump or was he pushed?

Why would the issue of payment for loss of office even arise? Perhaps I am wrong but I am left with the impression that his early departure was by mutual consent and on the basis of no compensation for loss of office? In other words the board wanted him to leave early and he agreed? […]

Shell ‘is getting far too Dutch’

A senior executive at a leading City institution, who asked not to be named, said British investors were not being treated on a par with their Dutch counterparts. He said this was symptomatic of a trend that has seen the company increasingly consolidating power in The Hague and forgetting its British heritage. The oil giant […]

Arrow LNG a likely target in Shell spending rethink

The Arrow gas export project in Australia is a likely casualty of a tighter spending regime at Royal Dutch/Shell as the company’s new boss considers feeding output earmarked for it into a rival plant instead. By Andrew Callus LONDON Tue Nov 12, 2013 2:56pm GMT (Reuters) – The Arrow gas export project in Australia is […]