News and information on Shell Plc
LONDON, April 29 (Reuters) – Royal Dutch Shell Plc (RDSa.L) is retendering some contracts for the expansion of its Port Arthur refinery in the U.S., but this will not lead to any delays in startup of the new capacity, Chief Financial Officer Peter Voser told analysts on a conference call.
(Reporting by Tom Bergin, editing by Will Waterman)
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LONDON (Dow Jones)--Royal Dutch Shell PLC's (RDSB.LN) output from onshore operations in Nigeria was more than 90,000 barrels equivalent per day, or 38.5%, lower in the first quarter of 2009 compared with a year ago as security problems shut down a major pipeline and gas plant, the chief financial officer Wednesday.
The figures also show that Shell is failing to cover its capital spending programme and its dividend payments from its income. Cash flow from operations was $7.9bn, while capital spending was $7.1bn and dividend payments were $2.4bn a shortfall of $1.5bn. As a result, Shells debts have been rising.
LONDON, April 29 (Reuters) - Oil and gas prices are unlikley to rise significantly in the next 12-18 months, because of economic weakness, the Chief Financial Officer of oil major Royal Dutch Shell Plc (RDSa.L) said on Wednesday.
LONDON (Dow Jones)--Royal Dutch Shell PLC (RDSB.LN) made good progress cutting costs in the first quarter and renegotiated some contracts made in 2005 and 2006 down by 15%-20%, said the company's Chief Financial Officer Peter Voser Wednesday.
Royal Dutch Shell is responsible for many important initiatives in relationship to the environment, encouraging business start-ups, supporting charitable causes and other good works.
Hearing Comes Four Weeks Before Landmark Human Rights Case, Wiwa v. Shell, Goes to Trial in Federal Court in New York
By Telegraph Staff
Last Updated: 8:56AM BST 29 Apr 2009
Profits for the first three months of 2009 are 58pc lower than the same period a year ago and 31pc down on the last quarter of 2008.
The price of crude oil in London is trading around $50 a barrel, down from a record high of $147 last July. The high was hit just before the financial crisis came to a head in the autumn and the worlds biggest economies went into reverse.
Royal Dutch Shell Chief Executive Jeroen van der Veer said the weaker global economy has created challenging condition for both its exploration and retail businesses.
April 29 (Bloomberg) -- Royal Dutch Shell Plc, Europes largest oil company, said first-quarter profit fell 62 percent as a slump in crude prices reduced earnings from exploration and production.
"We have a difficult year ahead of us," Shell vice president for Africa, Ann Pickard said in an internal company publication. "With the drop in oil prices, our survival depends on controlling our costs," she added.
Royal Dutch Shell Plc, BPs larger rival, is likely to report a 67 percent drop in profit excluding one-time items and inventory changes to $2.56 billion tomorrow, based on the median estimate of 11 analysts compiled by Bloomberg.
Shell has no comment on discussions to develop deep natural gas in Kuwait,Malcolm Brinded, the companys executive director for exploration and production, said in a March 30 interview.
Shell's contribution to the fund has risen from 5% to 23.6% and the employee contribution has risen from 2% to 8% of salaries, the company said in an update posted on its Web site Saturday. The increased payments should bring the pension's funding ratio to 105% within three years and 127% by 2023, the company said.
Monday, 27 April 2009
Dissident republicans linked to the groups which carried out the murders of two soldiers and a policeman in Northern Ireland last month were responsible for the break-in and criminal damage of the Shell gas plant in Mayo last week.
The group of around 18 men wearing black balaclavas threatened and struck one of the two security guards on duty with an iron bar before causing damage costing thousands of euro in what Garda sources described as a “military-style” operation.
NEW YORK — Shell Oil Co. agreed to pay a $5.8 million penalty and cut greenhouse gas emissions at a Gulf Coast refinery as part of a settlement with Texas environmental groups who filed suit against it early last year, The Associated Press reported.
The agreement, which must still be approved by a federal judge, would cut greenhouse gas emissions at Shells Deer Park, Texas, refinery and chemical plant by 750,000 pounds a year for the next three years. In addition, monitoring of air quality would be improved, according to the Sierra Club and Environment Texas groups.
The company thats currently adrift in the choppy waters of Iraqs political scene is Royal Dutch Shell PLC (RDS.A, RDS.B). Shell signed a $4 billion deal with Iraqs oil ministery that gave it the rights to process and market natural gas from the countrys southern Basra province.
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