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July, 2009:

Royal Dutch Shell ruthless restructuring continues – more job cuts

By John Donovan

On 30 January we broke the news of Shell’s decision to make “tough choices” in reaction to the collapse in oil prices.  Shell confirmed to Reuters that the Shell internal emails from CEO Jeroen van der Veer and Executive Director Malcolm Brinded we published were authentic.  Quotes from the emails were featured in the Reuters article: Shell gets tough on costs as oil prices bite

Notability, the warning by Brinded of “touch choices” did not extend to him giving up his fat cat retention bonus. read more

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.

Fresh wave of job cuts at Shell

CITY A.M.

Monday, 27th July 2009

ENERGY
OIL giant Royal Dutch Shell is set to announce a set of job cuts this week, as new chief executive Peter Voser continues his wave of intense restructuring at the company. But reports that the number of job losses would be as high as 600 were yesterday dismissed. Voser is expected to give details of his restructuring plans at the company’s interim results on Thursday. Earlier this year, Voser kicked off his leadership with a bang, when he axed almost half of the executive directors on the group’s board. This led to the most senior woman executive, Linda Cook, leaving.
read more

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.

10,000 of Shell’s global workforce of 102,000 likely to go?

The Times

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July 27, 2009

Shell cuts up to 600 top jobs in Voser’s overhaul

Robin Pagnamenta, Energy Editor

Royal Dutch Shell is poised to announce a fresh wave of cuts in senior jobs this week as Peter Voser, the new chief executive, intensifies an aggressive restructuring drive within Europe’s largest company.

The Anglo-Dutch oil company will reveal alongside its interim results on Thursday that up to a quarter of its senior management — between 500 and 600 people globally — will lose their jobs in the coming weeks. The cuts represent the climax of a huge shake-up under way in Shell, of which Mr Voser, who is Swiss, took full control from Jeroen van der Veer this month. The redundancies will mark one of the most far-reaching management overhauls in a successful multinational group undertaken by an incoming chief executive. read more

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 to announce a cull of up to 600 senior management roles?

Daily Telegraph

‘Grim reading’ likely at BP and Shell

BP and Shell, the oil giants, will this week release results that analysts expect to make “grim reading” because of lower global demand for oil.

By Rowena Mason
Published: 10:08PM BST 26 Jul 2009

Shell, which recently became the world’s biggest company by market capitalisation, has been hit by falling output in the Nigerian delta, where rebels have attacked its facilities. The company could announce a cull of up to 600 senior management roles globally.

Analyst consensus forecasts show that BP is expected to make $2.78bn (£1.69bn) in adjusted operating profit, edging ahead of Shell’s estimated $2.4bn profit.

Both companies are under pressure from falling demand for oil, but Shell is more exposed to the slumping price of natural gas. Richard Griffiths, an analyst at Evolution Securities, said: “Everyone knows it is going to be grim reading, so we will be looking at the outlook. Rising oil prices combined with a declining cost base means earnings momentum should start to turn in a postive direction.” read more

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.

Royal Dutch Shell Plc strategic review of global refining operations

globeinvestor.com

SHAWN MCCARTHY

00:00 EDT Saturday, July 25, 2009

OTTAWA — GLOBAL ENERGY REPORTER,

Earlier this month, Royal Dutch Shell PLC announced it is conducting a strategic review of some of its global refining operations, including its 130,000-barrel-a-day refinery in Montreal. Options for the 75-year-old plant include continuing its operation, selling it or closing it and transforming the property into a terminal to receive imported petroleum products. read more

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.

Voser sweeping cost-cutting expected to include thousands of redundancies

The Sunday Times

UK oil giants’ profits plunge $10bn

July 26, 2009

Danny Fortson read more

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.

Profits collapse but BP and Shell set to hold dividend steady

Some believe that both BP and Shell could be interested in cutting short the process of finding new reserves by announcing takeovers of existing companies.

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.

Dramatic Fall in Shell Second Quarter Profits

Rival Royal Dutch Shell meanwhile is set to post underlying second-quarter profits on Thursday of around 2.4 billion dollars (£1.5 billion), compared with a return of 8.6 billion US dollars (£5.2 billion) a year earlier.

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.

Exploiting boardroom connections of Sir Mark Moody-Stuart

Hermes Equity Ownership Services, which advises funds on governance, is banking on Sir Mark's boardroom relationships. These include Shell, which he chaired, where investors have opposed pay policies.

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.

Chevron Delays Gorgon LNG Development Approval, Age Reports

Chevron and its partners, which include Exxon Mobil Corp. and Royal Dutch Shell Plc, have delayed the go-ahead until Sept. 14, the newspaper reported without saying where it got the information.

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 Dutch Pension Fund Melt Down Recovery Plan

In December 2008, based on information provided by the website royaldutchshellplc.com, the Financial Times and other news organizations, including the International Herald Tribune reported the the Shell Dutch Pension Fund was substantially underfunded and that employee contributions would have to increase.

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 put 2 bln eur into Dutch pension fund in Q2

Shell said earlier this year it would need to increase contributions to its pension funds, after turmoil in financial markets decreased the value of their assets.

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 Pays Extra $2.9 Billion Into Pension Fund

July 23 (Bloomberg) -- Royal Dutch Shell Plc, Europe’s largest oil company, contributed an additional 2 billion euros ($2.9 billion) to its pension fund after falling below a regulatory threshold.

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.

New Zealand Refining Falls After Report Exxon to Sell Its Stake

Royal Dutch Shell Plc is already seeking a buyer for its 17 percent holding in New Zealand Refining at a time when new capacity in Asia is forecast to depress margins in the region for the next two years. Investments in existing plants are profitable again after sellers lowered prices, Valero Energy Corp., the largest U.S. refiner, said last month.

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.

95 per cent of Shell people are honest the rest are in senior management

Posting on Shell Blog by “Outsider”

As one senior Shell employee put it, “95% of the people at Shell are honest, ethical and extremely competent. Unfortunately the other 5% are in top management positions”

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.

BP Says North Sea Oil, Gas Production Will Drop 9%

Royal Dutch Shell Plc, Europe’s largest oil producer, sold some U.K. assets last year, including its share of the South Cormorant, Cormorant North, Tern, Eider, Kestrel and Pelican licenses, non-operated interests in the Hudson license and interests in the Brent System and Sullom Voe terminal.

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.
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