Shell also revealed that it had a total $8.3bn deficit in its worldwide pension funds because of the fall in share prices last year. The figure is only about 5 per cent of its market capitalisation.
January, 2009:
Shell keeps spending despite profits fall
This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website,
johndonovan.website, and shellnews.net,
are owned by John Donovan. There is also a Wikipedia segment.
Shell profits slump on shifting crude price
Profits at Royal Dutch Shell slumped in the fourth quarter as the oil group paid the price for its high-cost business model in Canada and crumbling refining and chemical margins.
Energy workers get new offer
Shell Oil Co., which is representing the energy industry, has been meeting with negotiators from the United Steelworkers Union in Austin.
Shell Declines to Comment on Reports of Possible Bid for Nexus
Jan. 29 (Bloomberg) -- Royal Dutch Shell Plc Chief Financial Officer Peter Voser declined to comment on reports of a possible bid for Nexus Energy Ltd., the developer of the proposed Crux natural gas liquids venture off northern Australia.
Girl shot dead in Nigerian Delta: father works for Royal Dutch Shell
An 11-year-old girl has been shot dead as she tried to prevent militants kidnapping her brother in Nigeria's oil-producing Niger Delta region. The armed men seized the boy as the two walked to school in Port Harcourt, capital of Rivers State. The children's father works for Royal Dutch Shell, a company spokesman said.
Questor analyses the investment prospects of Royal Dutch Shell, the oil company…
Production in 2008 fell 2pc year-on-year due to problems in Nigeria with the militant Movement for the Emancipation of the Niger Delta (MEND), asset disposals and a lower production sharing volumes.
Shell posts 2.8 bln dlr loss on tumbling oil prices
LONDON (AFP) Anglo-Dutch energy giant Royal Dutch Shell said Thursday it made a net loss of 2.81 billion dollars (2.15 billion euros) in the final quarter of 2008 as plunging oil prices slashed the value of inventories.
Shell says pension funds underfunded by $12 bln
LONDON, Jan 29 (Reuters) - Royal Dutch Shell Plc (RDSa.L) said its various pension funds around the world were underfunded by $11.83 billion after market turbulence hit asset values.
Shell announces record profits of £700 a second
While Shell hailed the figures, which represented a 14 per cent rise on the previous year, the profit triggered anger from the trade unions. "Shell is still feasting while the rest of us face famine. Its profits are the biggest in UK history," said Derek Simpson, Unite's joint general secretary. "A compelling case still remains for a windfall tax on the greedy energy companies. Working families are struggling in the face of the recession, the redistribution of windfall profits would help support Britain through these difficult times."
Shell Says Canadian Oil-Sands Production Costs Rise
Jan. 29 (Bloomberg) -- Royal Dutch Shell Plc, Europes largest oil company, said the cost of producing Canadian oil sands rose to about $38 a barrel last year, including fuel expenses.
Shell says all major projects on track
Thu Jan 29, 2009 12:42pm GM
(Reuters) – Oil major Royal Dutch Shell Plc said all its major projects currently under construction were on track, despite concerns its U.S. refinery expansion programme was losing steam.
“All post-FID (Final Investment Decision) projects are on track for planned start up,” spokesman Adam Newton said when asked about a report that work on the Port Arthur refinery, which Shell co-owns with Saudi Aramco, had slowed.
The expansion is scheduled to be completed in 2010.
Shell says oil sands focus on de-bottlenecking
LONDON, Jan 29 (Reuters) – Oil major Royal Dutch Shell Plc (RDSa.L:Quote, Profile, Research) said its focus in the Canadian oil sands industry was on improving the functioning of its existing facilities rather than sanctioning new projects.
Chief Financial Officer Peter Voser said on a call with reporters on Thursday that cash costs in oil sands, including energy costs, is around $38/barrel.
(Reporting by Tom Bergin; Editing by Mike Nesbit)
© Thomson Reuters 2009 All rights reserved
Shell Posts First Loss in 10 Years as Oil Prices Drop
Jan. 29 (Bloomberg) -- Royal Dutch Shell Plc, Europes largest oil company, posted its first quarterly loss in 10 years after lower oil prices reduced earnings from exploration and production and the value of inventories fell.
Shell reports $2.81 billion loss in 4Q
The Associated Press
Published: January 29, 2009
AMSTERDAM, Netherlands: Royal Dutch Shell PLC, Europe’s largest oil company, has reported a $2.81 billion net loss for the fourth quarter as the price of oil fell sharply and it wrote down the value of its inventory.
The company had $8.47 billion in net profit in the same period a year earlier.
The company said Thursday sales fell 24 percent to $81.1 billion. Crude production was down less than one percent to 3.42 million barrels per day, but Shell’s selling price fell 29 percent to $58.40 as the global economic slowdown hit demand.
Bakersfield refinery may be idled indefinitely
The Santa Monica activist group has raised concerns to state officials that Shell Oil, a major crude supplier to Big West, may be withholding supply from the refinery. Shell is the former owner of the Bakersfield refinery and tried to close it several years ago before being forced by the state to sell it to boost competition. Christine Gasparac, a spokeswoman for the California attorney general's office, confirmed that the agency's antitrust section was investigating "whether [Shell] illegally refused to sell crude to Flying J or shut off pipeline access." Shell could not be reached for comment.
Picketers get rowdy in front of Shell refinery
MARTINEZ Contra Costa sheriff's deputies were called to control a crowd of 100 steel worker union picketers when a protest in front of the Shell oil refinery got out of hand Wednesday afternoon.
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