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Posts under ‘Simon Henry’

Shell picks American former Enron exec for CFO

Royal Dutch Shell executive Jessica Uhl has been elevated to chief financial officer for global operations.

Uhl, the current executive vice president of finance for integrated gas, begins her new post in March and will continue to work at The Hague.  She will replace CFO Simon Henry, who will assist with the transition through June.

Before joining Shell in 2004, Uhl was a director of project development and later a vice president of corporate development for Enron in Houston and Panama.

Uhl also will serve as an executive director of Shell and sit on the executive committee. Shell CEO Ben van Beurden praised Uhl’s promotion. read more

Shell finance chief Simon Henry to leave after 30 years with the oil major

Caitlin Morrison deputy digital editor at City A.M: Thursday 15 December 2016 8:47am

Royal Dutch Shell announced today that finance chief Simon Henry will step down in March 2017, to be replaced by Jessica Uhl.

Henry – who was appointed to the Lloyds Bank board in 2014 – has been with Shell for over 30 years, and has been chief financial officer for seven.

“I have been privileged to spend the past 34 years working with great colleagues, in a great company,” said Henry. read more

Shell to replace CFO Simon Henry in March

Royal Dutch Shell (RDSa.L) will replace Simon Henry as chief financial officer on March 9, 2017 with Jessica Uhl, a financial executive in Shell’s gas business, the company said on Thursday.

Henry will remain available to the company until June 30, 2017, Shell said. It gave no reason for his departure.

“Jessica combines an external perspective with broad Shell experience and is a highly regarded executive,” Shell Chief Executive Ben van Beurden said.

Uhl joined Shell in 2004 and was previously employed at Enron and Citibank in the U.S. and Panama. read more

Royal Dutch Shell CFO Simon Henry steps down

By MarketWatch

Published: Dec 15, 2016 2:21 a.m. ET

LONDON–Royal Dutch Shell PLC’s RDSA Chief Financial Officer Simon Henry is stepping down next year and will be replaced by Jessica Uhl, who is currently executive vice president finance for the integrated gas business.

Mr. Henry will remain on the board until March 9 and remain available to assist with the transition until June, Shell said Thursday.

Write to Rory Gallivan at [email protected]; Twitter: @RoryGallivan

SOURCE

Shell finance chief takes some chips off the table

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Royal Dutch Shell’s finance boss took advantage of the jump in the company’s share price immediately following OPEC’s decision to cut its output to sell some of his holdings in the oil producer.

According to a statement issued by the company, Simon Henry unloaded 50,000 B-shares at an individual price of 2163p, allowing him to pocket £1,081,500.

On 11 November, and in remarks to The Wall Street Journal, the firm´s executive vice president for deep-water, Wael Sawan, said Shell would invest $10bn more in the country, on top of the $30bn already deployed in South America´s largest economy. read more

Market keeps watching brief on Shell’s Woodside stake

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by Sarah Thompson Anthony Macdonald Joyce Moullakis

With December’s silly season now underway, brokers are left with precious few trading days to launch any significant placements and block trades.

But one stake remains at the top of every firm’s watchlist: Shell’s 13.3 per cent stake in Woodside Petroleum.

Firstly, there’s a motivated seller. The oil giant’s chief financial officer Simon Henry classified the $3.4 billion stake as “available for sale” when he informed investors in August of a change in how Shell classifies its stake in the Australian oil and gas producer. read more

Shell’s debts rise as it misses asset-sales target

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PUBLISHED NOV 19, 2016, 5:00 AM SGT

LONDON • Royal Dutch Shell is more than US$4 billion (S$5.71 billion) short of its asset-sales target for the year, prompting credit ratings agencies to warn that its record debt will not start shrinking soon enough.

Shell piled up borrowings following its biggest acquisition, the purchase of BG Group, and needs to hit disposal targets to help pay for it and stave off rating reviews, according to the agencies. The company sold US$1.7 billion of assets in the first nine months of this year, according to a Nov 1 statement, well short of its US$6 billion to US$8 billion guidance. read more

Hold the champagne

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screen-shot-2016-11-03-at-14-50-16By Ed Crooks, November 4, 2016

If you are looking forward to the oil industry recovery, you shouldn’t break out the champagne just yet.

Over the past eight days, the world’s largest listed oil companies have released third quarter earnings reports. From all of them, the message was that while the worst might be over, they were still facing a long hard road ahead.

The snap reactions from the stock market were mixed: positive for  ChevronRoyal Dutch ShellTotal and ConocoPhillips; negative for ExxonMobilBPEniStatoilPetrochina and Cnooc. read more

No credibility in Shell Peak Oil Forecasts, says John Donovan

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screen-shot-2016-11-03-at-14-50-16A number of articles have been published today reporting a forecast by Shell CFO Simon Henry, that “Peak Oil” could be just 5 years away. e.g.

Oil Demand Peak Could Be Just 5 Years Away: Shell

Oil falls after Shell warns peak demand ‘five years off’

Shell makes a jaw-dropping statement on peak oil

It is, therefore, an appropriate moment to look back on a directly related forecast made in January 2008, by the then Shell CEO Jeroen van der Veer. He forecast that demand for oil and gas would outstrip supply within 7 years, meaning by 2015. The hopelessly inaccurate prediction was based on an assessment from the Shell Scenarios team. No doubt many of the same geniuses now advising Simon Henry. read more

Shell selling two assets in U.S. Permian basin: CFO

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Royal Dutch Shell is selling two small land packages in the U.S. Permian Basin but will also consider acquisitions in the oil-rich West Texas province, Chief Financial Officer Simon Henry said on Tuesday.

Shell, which is in the midst of a $30 billion disposal program to pay for its $54 billion acquisition of BG Group, will remain a key future engine of growth, Henry said on an analysts call.

“The Permian is the crown jewel. Not just in terms of value and quality of the asset but also the capability that is being developed there,” he said. read more

Royal Dutch Shell’s Q3 Earnings: Good, but Not As Great As Some Have Declared

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Tyler Crowe: (TMFDirtyBird): Nov 1, 2016

It seems that now when an oil company’s earnings increase, financial pundits say it “rocketed” upwards or some other hyperbole like that. Sure, Royal Dutch Shell’s (NYSE:RDS-A) (NYSE:RDS-B) third-quarter results were better than the past few quarters thanks to the BG Group deal, but the devil’s in the details. Let’s take a look at the company’s results and why they improved, as well as peek into Shell’s near-term future as 2017 comes into focus.  read more

Shell’s Record BG Deal Starts to Pay Off as Production Surges

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screen-shot-2016-11-01-at-16-01-19By Rakteem Katakey: November 1, 2016

Royal Dutch Shell Plc’s biggest takeover, the subject of intense investor scrutiny during crude’s collapse, is starting to pay off as Europe’s largest oil company chalks up its highest profit in five quarters.

The cash now generated by BG Group Plc — acquired by Shell for $54 billion in February — outstrips its spending, while production has risen by about a third in two years, Shell Chief Financial Officer Simon Henry said Tuesday. The integration of its assets has been completed “well ahead of time,” he said. read more

Royal Dutch Shell Plc Third quarter 2016 summary of unaudited results

THE HAGUE, The Netherlands, Nov. 1, 2016 /PRNewswire:  Dutch Shell plc: 3rd Quarter 2016 Unaudited Results

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  • Royal Dutch Shell’s third quarter 2016 CCS earnings attributable to shareholders were $1.4 billion compared with a loss of $6.1 billion for the same quarter a year ago. 
  • Third quarter 2016 CCS earnings attributable to shareholders excluding identified items were $2.8 billion compared with $2.4 billion for the third quarter 2015, an increase of 18%. 
  • Compared with the third quarter 2015, CCS earnings attributable to shareholders excluding identified items benefited from increased production volumes mainly from BG assets, lower operating expenses more than offsetting the increase related to the consolidation of BG, and lower well write-offs. This was partly offset by the decline in oil, gas and LNG prices, and increased depreciation mainly resulting from the BG acquisition, and weaker refining industry conditions.
  • Third quarter 2016 basic CCS earnings per share excluding identified items decreased by 8% versus the third quarter 2015.
  • Cash flow from operating activities for the third quarter 2016 was $8.5 billion, which included favourable working capital movements of $0.7 billion.
  • Total dividends distributed to shareholders in the quarter were $3.8 billion, of which $1.1 billion were settled by issuing 44.1 million A shares under the Scrip Dividend Programme.
  • Gearing at the end of the third quarter 2016 was 29.2% versus 12.7% at the end of the third quarter 2015. This increase mainly reflects the impact of the acquisition of BG.
  • A third quarter 2016 dividend has been announced of $0.47 per ordinary share and $0.94 per American Depositary Share (“ADS”).

Royal Dutch Shell Chief Executive Officer Ben van Beurden commented:

“Shell delivered better results this quarter, reflecting strong operational and cost performance. But lower oil prices continue to be a significant challenge across the business, and the outlook remains uncertain.

Our investment plans and portfolio actions are focused firmly on reshaping Shell into a world-class investment case at all points in the oil-price cycle, through stronger returns and improved free cash flow per share. We are making good progress towards this aim in spite of current challenging market conditions. read more

This Billionaire Just Joined The Race For A Major Shell North Sea Oilfield

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By Irina Slav – Oct 17, 2016, 8:55 AM CDT

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Jim Ratcliffe, the billionaire owner of chemicals conglomerate Ineos, will bid for Shell’s Buzzard oilfield in the North Sea valued at around US$2.2 billion (GBP 1.8 billion). The sale is part of Shell’s debt reduction plans, following its multibillion acquisition of gas major BG Group earlier this year. Total proceeds from asset sales are seen at up to US$30 billion (GBP 24.6 billion).

For Ratcliffe, if his bid wins, the deal would represent a much sought-after expansion into the energy industry of the country. His bid for Buzzard is the latest in the North Sea, after last year, Ineos acquired all the gas fields operated by German DEA Group in the U.K. North Sea shelf. The Buzzard field became property of Shell after the acquisition of BG Group. Ineos is also the owner of the only oil refinery in Scotland. read more

Shell’s U.S deal to unlock global oil asset disposals

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* Shell lines up large North Sea asset sale

* In talks to sell out of Gabon, NZealand, Thailand, Tunisia

* Gulf of Mexico deal sets deal value at $60/bbl

* Shell seeks to sell $6-$8 bln of assets in 2016

By Ron Bousso: Wed Aug 31, 2016

LONDON, Royal Dutch Shell’s first oil field sale after its $54 billion BG Group acquisition bodes well for its disposal talks in the North Sea, Gabon and New Zealand, according to sources, signalling buyers will meet its expectations on value.

The $425 million deal in the Gulf of Mexico is welcome news for the Anglo-Dutch oil and gas giant which has struggled to kick off its plan to dispose of $30 billion of assets by 2018 or so in order to pay for the February deal and maintain a generous dividend policy amid soaring debt. read more

Shell share price: Private equity-backed firms eye group’s North Sea assets

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Screen Shot 2016-08-29 at 22.18.50Anglo-Dutch oil major agrees to offload certain assets in Gulf of Mexico

by Tsveta ZikolovaTuesday, 30 Aug 2016, 09:00 BST

Investment companies backed by some of the world’s biggest private equity groups have expressed interest in Royal Dutch Shell’s (LON:RDSA) North Sea assets, the Financial Times has reported. The Anglo-Dutch oil major has unveiled plans to sell some $30 billion worth of assets across its global portfolio over the next three years or so is it looks to shore up its balance sheet in the wake of its acquisition of BG Group which completed earlier this year. read more

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