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Posts from ‘July, 2009’

Shell profit falls 70 percent but beats forecast

Reuters

Thu Jul 30, 2009 2:26am EDT

LONDON (Reuters) – Royal Dutch Shell Plc (RDSa.L) posted a 70 percent fall in net profit in the second quarter compared with the same period of 2008, as oil prices and refining margins tumbled.

The world’s second-largest non government-controlled oil company by market value said on Thursday second-quarter current cost of supply (CCS) net income, which strips out unrealized gains or losses related to changes in the value of fuel inventories, was $2.34 billion. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell reports 70% dip in profits

(UKPA) – 16 minutes ago

Royal Dutch Shell has announced a 70% slide in profits to 2.3 billion US dollars (£1.4 billion) in the period between April and June.

The Anglo-Dutch firm achieved profits of £22 billion last year, but, in line with BP on Tuesday, it said the weaker global economy had impacted its performance in the second quarter.

New chief executive Peter Voser said: “Energy demand is weak.”

“There is excess capacity in the market, and industry costs remain high.”

read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell cuts senior execs by 20% substantial staff cuts to follow

From a Shell Press Release

Key features of Royal Dutch Shell Plc SECOND quarter 2009

Royal Dutch Shell Chief Executive Officer Peter Voser commented:

“Our second quarter results were affected by the weak global economy. This weakness is creating a difficult environment both in Upstream and Downstream.

Energy demand is weak. There is excess capacity in the market, and industry costs remain high.

Conditions are likely to remain challenging for some time, and we are not banking on a quick recovery. Shell is adapting to this new situation, and we must do more. We are sharpening our focus on delivery and affordability. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell to report profits down in 2Q, test for new CEO

LA TIMES: Analysts think Voser may disclose further details of an organizational restructuring announced in May — including job cuts. The company may also scale back ambitious plans to invest heavily in new production in the face of the ongoing global economic slump.

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Tips on suing Royal Dutch Shell for theft of Intellectual Property

By John Donovan

We have sued Shell repeatedly in the High Court for the theft of our Intellectual Property. It is doubtful if anyone can match our experience in dealing with this ruthless serial poacher of others parties ideas.

We are not alone in being cheated by Shell. Other similar litigation is currently underway against this unprincipled predator.

The following is an extract from a response email I sent yesterday to Michiel Brandjes, Company Secretary and General Counsel Corporate, Royal Dutch Shell Plc:
read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Free Research on Royal Dutch Shell Plc (over 24,000 articles)

Alfred Donovan Wall Street Journal image

(Wall Street Journal image of Alfred Donovan, the 92 year old co-owner of the website royaldutchshellplc.com.)

We have assembled by far the worlds largest online library of Shell related news articles, confidential Shell documents and Shell internal email correspondence leaked to us by insider sources. Our readers appetite for Shell news and insider information is fed by a network of Shell insider sources around the globe. Emails from senior executives including Peter Voser have been supplied to us on the day they were sent. As our regular visitors are aware, a leaked email from David Greer, Deputy CEO of Sakhalin Energy Investment Company, brought about his “resignation”. We have even published the top secret minutes of meetings held by its most senior executives. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Rebel oil attacks cost Nigeria billions: Shell

ABUJA — Nigeria has lost some 47 billion dollars in revenue from oil firm Shell since 2006 due to cuts in output caused by rebel attacks, the firm's boss in the country said Tuesday.

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Cnooc-Shell JV Plans To Expand Refinery Capacity By 20% -Exec

HUIZHOU (Dow Jones)--A petrochemical joint venture between China National Offshore Oil Corp. and Shell Nanhai BV, a unit of Royal Dutch Shell PLC (RDSA), plans to expand its refinery near Huizhou in southern China by 20% by mid-2010, since demand for its products is on the rise, a top executive said.

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell works to fix Gulf of Mexico pipeline leak

HOUSTON/NEW YORK (Reuters) - Shell and the U.S. Coast Guard rushed Tuesday to contain 1,400 barrels of crude oil spilled into the Gulf of Mexico from a leaking Shell-operated pipeline, fighting back an oil slick with skimmer ships and airplanes.

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Royal Dutch Shell tax avoidance

With new information that came in, the Guardian was able to spotlight hitherto unknown avoidance schemes by the big banks, particularly those in the process of being helped by state funds. The series revealed the tax stratagems of many of Britain's corporate household names. It documented brands shifted offshore by Diageo, Shell, and drug companies AstraZeneca and GlaxoSmithKline.

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Greenpeace study finds oil companies may be doomed

Shell has the highest exposure of the majors to the tar sands and is most at risk from a decline in demand.

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

BP Profit Declines on Plunging Oil, Refining Margins

Royal Dutch Shell Plc, Europe’s biggest oil producer, may say July 30 that adjusted earnings fell 69 percent to $2.42 billion, a survey of 17 analysts showed.

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

FOCUS: 2Q Is Time For U.K. Oil Bosses To Prove Their Mettle

Shell boss Peter Voser has been in the job less than a month, but is likely to be defending his company's worst quarterly profits for many years. People want to hear exactly how his reorganization plan will change Shell for the better and help it close the profitability gap with rivals.

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell rejects reports of 500 to 600 global management cull

Oil major plans further jobs cull

Oil giant Royal Dutch Shell is planning a fresh wave of job cuts under new chief executive Peter Voser’s group-wide overhaul, it has emerged.

Shell’s first tranche of cuts is set to draw to a close this week and it is expected to be followed soon by an announcement over a new set of job losses.

The firm rejected reports that between 500 and 600 of its global management are to go in the next phase of the restructuring.

A spokeswoman for the firm declined to comment on the numbers and it is believed Shell has yet to set targets for the upcoming cuts. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

On a Swiss roll…

Here’s the story. You are a Swiss accountant with a proven record of ruthlessness and synthetic business acumen. You are comfortable with numbers – that’s what you do – but you know little about the minutiae of the oil business. How can you be – you are not an “oil man” you are a “dollars man”. By guile, good fortune and the Peter Principle you find yourself at the helm of one of the world’s biggest oil and gas companies. You know that you will struggle with the difficult things – like creating an organisation that finds, develops, transports, refines and markets hydrocarbons. You know nothing at all about the oil and gas chain from exploration to consumption. You’ve never really worked in it – other than seeing spreadsheets which show you how much it costs. But you are now in charge. So what you do is retreat to the familiar world of numbers. That world where there is certainty – where something that costs “$100m” is only supportable if an adequate ROACE is assured. And where, even though future earnings are always, by definition, unpredictable you find a way of getting bogus certainty where there is none. By appointing more accountants and listening to them.null read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell insiders toxic reaction to Vosification job cuts

By John Donovan

The following information was posted on to our Shell Blog this morning by guest1, an extremely well-informed senior Shell insider whose real identity is known to us.

Voser cutting 600 top jobs. Nothing new, we could read that quite a while ago on the Donovan site. But what does this really mean? The head honchos are now expected to all combine two jobs. This is a nice recipe to get them overworked and overtired while the official explanation is ‘better coordination’. But they will be so exhausted that they cannot challenge projects that hit their desks for approval and so must rely on completed staff work by the underlings. The last few years this system has been tried and failed. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.