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Posts from ‘May, 2016’

Shell jobs: Move means “lower forever”

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Written by Erikka Askeland – 26/05/2016 7:45 am

Paul Goodfellow, Shell’s Vice President for UK & Ireland, has said that despite the “tough message” he had to deliver yesterday to staff in Aberdeen, he saw green shoots of sustainable change emerging in the North Sea.

The 475 North Sea job cuts – part of a wider round of 2,200 across Shell’s global operations – comes after a 90 day review since Shell’s £36million mega-merger with BG Group earlier in the year.

He said this most recent round of job losses was not just in response to “lower for longer” – the common industry view that oil will stay around $50 for the forseeable future – but “lower forever”. read more

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‘Difficult time’ for oil workers as Shell workforce is slashed

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By GREG CHRISTISONPUBLISHED: 22:22, Wed, May 25, 2016 

The move, announced yesterday, is a result of the firm’s £35billion merger with the BG Group and the prolonged slump in oil prices. 

A total of 475 positions will be lost from the company’s UK and Ireland upstream business, which deals primarily with exploration, by the end of the year. 

All job losses are expected to affect Scotland – home to around 2,200 Shell employees – with most coming from the firm’s Aberdeen headquarters. Around 40 offshore posts will be cut and there will also be losses at St Fergus Gas Terminal, in Aberdeenshire, and the firm’s plant at Mossmorran, in Fife. read more

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Ministers pledge support as Shell axe 475 North Sea oil jobs

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Screen Shot 2016-05-21 at 10.18.28By PAUL WILSON: Wednesday 25 May 2016

SCOTLAND’S oil and gas sector is reeling from yet another hammer blow after Shell announced plans to slash its UK workforce by a fifth.

The oil giant said it will cut 475 people from its UK and Ireland business. All the jobs are understood to be based in Aberdeen and the north-east.

Shell announced it will lose 2,200 jobs from its workforce globally as it grapples with lower oil prices, meaning 12,500 staff and contractor roles will be lost between the start of 2015 and the end of this year. read more

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BP, Shell among bidders to run Qatar oil field – sources

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DOHA | BY TOM FINNBusiness | Wed May 25, 2016 5:20pm BST

Six international oil firms including BP and Royal Dutch Shell Plc have bid to operate Qatar’s largest offshore oil field, two people with knowledge of the matter told Reuters.

The other bidders are the field’s current operator Maersk, as well as Total SA, Chevron Corp and ConocoPhillips, said the people who spoke on condition of anonymity as the information was private.

The people said state-owned Qatar Petroleum (QP) would award the contract for the oil field, which is 80 kilometres (50 miles) off Qatar’s coast and currently produces around 300,000 barrels per day (bpd), in the second half of the year. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

ExxonMobil CEO: ending oil production ‘not acceptable for humanity’

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Screen Shot 2016-05-24 at 09.54.10Rupert Neate in Dallas: Wednesday 25 May 2016 20.25 BST

Rex Tillerson, the boss of oil giant ExxonMobil, said cutting oil production was “not acceptable for humanity” as he fought off shareholders’ and activists’ attempts to force the company to fully acknowledge the impact of climate change on the environment and Exxon’s future profits.

During a long and fractious annual meeting in Dallas on Wednesday, Tillerson, who serves as Exxon’s chairman and chief executive, beat back several proposals to force the company to take more action on climate change. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell to cut another 2,200 jobs

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The cuts are mainly due to Shell’s takeover of oil and gas exploration firm BG Group and prolonged low oil prices, it said.

Shell has announced more than 10,000 job losses over the past two years.

In February, the firm posted its steepest fall in full-year earnings for 13 years.

“Despite the improvements that we have made to our business, current market conditions remain challenging,” said Shell UK and Ireland vice president Paul Goodfellow.

“Our integration with BG provides an opportunity to accelerate our performance in this ‘lower for longer’ environment. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Royal Dutch Shell plc’s very existence is at risk according to management!

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By Rupert Hargreaves – Wednesday, 25 May, 2016

Shell’s (LSE: RDSB) Chief Executive Ben van Beurden shocked the market yesterday when he revealed that Shell’s dividend payments and even its very existence are under threat if the shift to renewables takes place too fast.

The group’s CEO made these comments at Shell’s annual meeting this week as 97% of the company’s shareholders voted to reject a resolution to invest profits from fossil fuels in becoming a renewable energy company. Speaking at the meeting, Ben van Beurden said: “We cannot [transition to renewables] overnight because it could mean the end of the company.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell Cuts 2,200 More Jobs to Withstand Lower-For-Longer Oil

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Screen Shot 2016-05-21 at 10.18.28By Rakteem KatakeyMay 25, 2016 — 11:19 AM BST

Royal Dutch Shell Plc will cut 2,200 more jobs, taking the total tally of losses to 12,500 from 2015 to 2016 as the world’s second-biggest oil company continues to adjust to the slump in prices. 

At least 5,000 jobs will be cut this year, the company said in an e-mailed statement. These reductions are in response to oil prices staying “lower for longer,” and as a result of the acquisition of BG Group Plc earlier this year, said Paul Goodfellow, Shell’s vice president for the U.K. and Ireland.  read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell to Cut at Least Another 2,200 Jobs Globally

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By THE ASSOCIATED PRESS: LONDON — May 25, 2016, 6:08 AM ET

Anglo-Dutch oil company Royal Dutch Shell says it will trim at least 2,200 jobs globally amid challenging times in the oil industry.

The losses are in addition to cuts already being implemented because of the energy company’s merger with BG. The losses will include some 475 positions in the North Sea.

Oil companies around the world are slashing jobs and postponing investments to adjust to lower energy prices. Prices have fallen because production remains high even as slower economic growth, particularly in China, reduces consumption. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Oil giant Shell to cut 475 jobs from North Sea workforce

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Chris Foote: Wed 25 May 2016

Dutch oil giant Shell plans to cut nearly 500 jobs from its North Sea workforce.

The announcement on Wednesday came as the result of a £47bn merger with the BG Group.

All 475 jobs are expected to be lost by the end of the year, along with 4500 others worldwide.

It is believed to be one of the largest announcements of North Sea job losses in recent years.

UK and Ireland Shell vice-president Paul Goodfellow said: “We’re continuing the improvement journey we’ve been on to create a competitive and sustainable business in the North Sea. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Questions raised over impartiality of Shell’s auditor as it emerges they also worked for takeover rival BG Group

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Screen Shot 2016-05-21 at 10.18.28By LAURA CHESTERS FOR THE DAILY MAILPUBLISHED: 22:53, 24 May 2016

Royal Dutch Shell is facing allegations that the firm which signs off its accounts is not impartial.

A leading investor yesterday raised concerns that EY, which has been appointed as auditor of the oil supermajor, had a conflict of interest because it had checked the books of BG Group ahead of its £36billion merger with Shell.

Standard Life, which raised the objection, said it had it had already voiced concerns about conflicts of interest at the Shell annual general meeting last year and said that it voted against the appointment this year and was ‘disappointed’ with Shell’s decision to select EY. read more

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Shell pipeline fixed after spill near Tracy, California – ABC News

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(Reuters) – A Royal Dutch Shell (RDSa.L) pipeline near Tracy, California has been repaired after spilling up to 21,000 gallons of oil, ABC News reported on its website on Tuesday.

Shell shut down its San Pablo Bay pipeline at Tracy, California last week after noticing very low suction and increased flow rate.

Shell did not give a timeline for the resumption of oil flow, according to the report.

(Reporting by Harshith Aranya in Bengaluru; Editing by Frances Kerry)

SOURCE

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Shell boss Ben Van Beurden spared shareholder pay revolt

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Jillian Ambrose24 MAY 2016 • 3:17PM

Shell shareholders have approved plans to pay boss Ben Van Beurden £4.3m despite calls from top proxy advisors to vote against his bonus ahead of the oil major’s AGM.

Investors voted 85.83pc in favour of the payout at the meeting in The Hague today.

Mr Van Beurden’s pay packet includes a salary of £1.4m, a bonus of £3.5m, and a pension of £441,000 for 2015, despite Shell reporting its steepest losses in 13 years and a planned job cull of 10,000. He has also received shares worth £9.7m, which vest in three years if he meets key performance targets. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell faces rising investor discontent over executive pay

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Screen Shot 2016-05-12 at 11.17.55By REUTERSPUBLISHED: 16:01, 24 May 2016

By Ron Bousso

THE HAGUE, May 24 (Reuters) – Investor discontent with Royal Dutch Shell over multi-million euro pay packages for its top executives rose sharply at this year’s annual shareholder meeting on Tuesday.

Although Shell’s shareholders approved the oil and gas group’s remuneration report, including chief executive Ben van Beurden’s 5.14 million euros ($5.74 million) package, 14.17 percent of investors opposed it, up from 3.84 percent last year.

Royal London Asset Management, which holds Shell shares worth nearly 1 billion pounds, said it was “disappointed” that van Beurden received very close to the maximum possible bonus in a year when the firm’s overall financial performance was weak. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell CEO warns renewables shift could spell end if too swift

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By REUTERSPUBLISHED: 15:23, 24 May 2016

By Ron Bousso

THE HAGUE, May 24 (Reuters) – Royal Dutch Shell cannot switch too quickly to producing renewable energy without risking its dividend payments and even its very existence, the oil and gas group’s chief executive warned.

Major investors, including Dutch pension fund PGGM, have criticised Shell’s climate change policy in recent months, saying it should do more to mitigate climate change risks.

However, 97 percent of Shell shareholders at its annual meeting on Tuesday rejected a resolution to invest profits from fossil fuels to become a renewable energy company. The Anglo-Dutch firm had previously said it was against the proposal. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell AGM sees US Gulf drilling protest

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Eoin O’Cinneide  24 May 2016 13:15 GMT

Shell came under fire at its annual general meeting on Tuesday as a delegate led a photographic demonstration against the Anglo-Dutch supermajor’s deep-water drilling plans in the US Gulf of Mexico.

Gulf Coast resident Monique Verdin turned up at the meeting at The Hague headquarters to display 10-foot prints of her photographs depicting what she says is the environmental and community impact of US Gulf drilling.

FULL ARTICLE

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