Royal Dutch Shell is under pressure to repay its investors’ patience this week by beginning a bumper $25bn (£19bn) share buy-back plan. The oil giant issued shares to existing investors instead of paying out dividends when oil prices were low as it sought to hang on to cash. As the crude market has recovered, Royal Dutch Shell has so far prioritised debt reduction over repurchasing the dividend scrips. But expectations are high that its quarterly report on Thursday could signal the start of buy-backs. FULL ARTICLEread more
ROYAL Dutch Shell finance chief Jessica Uhl has hailed a big increase in profitability in the North Sea and underlined the oil and gas giant’s commitment to the area. As Shell posted a 42% increase in first quarter profits to $5.3bn (£3.8bn) from $3.8bn, helped by the rise in oil and gas prices, Ms Uhl indicated the North Sea has played a big part in the growth story. “We’re seeing a really fantastic performance from our assets in the North Sea,” she told reporters.FULL ARTICLEread more
Management thinks the things it has done in recent years will set it up to deliver huge returns for shareholders.
Tyler Crowe (TMFDirtyBird) Mar 19, 2018 It’s hard for a $250-billion-plus business to change its stripes, butRoyal Dutch Shell’s(NYSE:RDS-A)(NYSE:RDS-B) has done a rather incredible job over the past few years transforming the company into one of the most compelling investments in the integrated oil and gas industry.
Now that Shell has weathered the storm of low oil prices and is back to generating returns, management has plans both within and without the oil industry to preserve what it calls a “world-class investment case.” Here are several quotes from the company’s most recent earnings conference call that highlight some of the efforts Shell is taking to both grow the business and make the stock a better investment.read more
Royal Dutch Shell has sewn doubt in the market about an early 2018 start-up of the oil major’s innovative Prelude floating LNG project off the coast of north-west Australia, with chief executive Ben van Beurden signalling that the project will only start contributing noticeably to cash flow in 2019.
LONDON/SYDNEY (Reuters) – Royal Dutch Shell is selling part of its stake in Australia’s largest independent oil and gas company, Woodside Petroleum Ltd, to equity investors for about $1.7 billion.
Shell, which has been slowly divesting its Woodside holding, said on Monday its Shell Energy Holdings Australia Limited (SEHAL) unit had struck a deal with two investment banks over the sale of 71.6 million Woodside shares for A$31.10 ($23.79) apiece.
The oil major said that represented 64 percent of its interest in Woodside and 8.5 percent of the issued capital in Woodside. FULL ARTICLEread more
The image of a driver slurping an iced latte while pulling a Mustang up to the drive-in window of a fast-food joint is either your idea of a capitalist apotheosis or civilization’s decadent demise.
Or … it’s what flashed through your mind as you listened to Royal Dutch Shell Plc’s earnings call on Thursday.
Jessica Uhl, Shell’s chief financial officer, at one point talked up the oil major’s marketing business:
We’re the world’s largest fuel retailer. Every day, Shell serves more than 30 million customers across our 43,000 sites in close to 80 countries. That is more sites than Starbucks; it is more than McDonald’s.read more
Anglo-Dutch energy giant Royal Dutch/Shell is shifting its focus toward downstream operations like refining and chemicals and away from traditional upstream activities like exploring for oil and gas, the Financieele Dagblad said on Wednesday.
This shift is likely to become even clearer when the company publishes its second quarter figures on Thursday, the paper said.
Shell’s investment in exploration slumped to $157m in the first quarter of 2017 from an annual quarterly average of between $500m to $600m in recent years, the paper points out. This is partly due to the group’s recent acquisition of the BG Group which has large deep-sea reserves off the coast of Brazil.read more
ROYAL Dutch Shell’s new finance chief has said the company will continue to invest in the North Sea where it is making good returns but declined to rule out selling off more UK assets.
Speaking after Shell posted a 140 per cent increase in first quarter profits, Jessica Uhl said the North Sea remains important to the firm although rationalisation moves will leave it with a much reduced presence in the area.
The oil and gas giant agreed in January to sell a portfolio of mature assets which account for around half its UK production to Chrysaor for up to $3.8 billion.read more
Another american woman. I do not know her, she must be very clever. But Shell has not had a lot of luck with senior american women. Do I need to mention the Cook woman? Or the Boynton woman?
And as a total outsider, I must observe that this Uhl woman is a bit tainted. She worked for Enron in the top years of all the scandals and in a very senior position.
We now know that the people working in Enron in that period might be the cleverest in the business, but not the most ethical ones. And for a finance director only the highest ethical standards should apply. A huge risk IMHO.read more
A finance boss at Royal Dutch Shell who was tipped to take over the top job has suddenly left – just days after he sold stock worth £1million.
Credited with leading the firm’s £41billion takeover of oil and gas group BG last year, Simon Henry was a key lieutenant of chief executive Ben van Beurden.
But the 55-year-old’s departure was announced yesterday to the shock of the markets. Relatively unknown internal finance executive Jessica Uhl has been appointed in his place.
It emerged Henry sold more than £1million of shares on December 1, within 24 hours of the historic Opec deal to cut production that then sent the price of oil soaring.read more
Royal Dutch Shell Plc’s appointment of Jessica Uhl as finance chief on Thursday posed one simple question for many of the analysts who follow Europe’s largest oil company: “Who?”
The 48-year-old U.S. citizen, currently head of finance for Shell’s Integrated Gas unit — a key cash cow since this year’s acquisition of BG Group Plc — will take over from Simon Henry in March. Having been at the oil major for 12 years, exclusively in finance, she has “in-depth knowledge” to execute its cash-generation plans, according to Shell.read more
Royal Dutch Shell PLC’s new finance chief has two big challenges: a mountain of debt and the pressure to keep down costs.
The British-Dutch oil giant on Thursday said its new chief financial officer will be Jessica Uhl, who is currently the top finance official for one of Shell’s most important units: Integrated Gas.
The BG merger bolstered Shell’s leading position in global natural-gas markets and led to the creation of the gas unit where Ms. Uhl worked. It also caused Shell’s net debt to balloon to $86.63 billion at the end of the third quarter…read more
Royal Dutch Shell (RDSa.L) Chief Financial Officer Simon Henry will step down in March after seven years in the post and be replaced by Jessica Uhl, a finance executive in Shell’s gas business.
Henry, a 55-year-old Shell veteran, was one of the executives who oversaw the $54 billion (43.27 billion pound) acquisition of BG Group, which completed in February, and the integration of the gas company which turned Shell into the world’s largest liquefied natural gas (LNG) trader.read more
Bogus Group: I concur with Bonus Group recollection of the tin pot, lacklustre, parvenu outfit. There was no place in BG Group for experienced professionals if they didn’t possess the sycophant tendencies required to stoke the egos of those deluded by corporate grandeur.
Large remuneration packages were not uncommon then too, the chief executive received circa £13mm (published) in bonuses throughout his 12 year tenure. During that period there were 26 fatalities, roughly £500k for each. That was more than distasteful.
Bonus Group: Today is the anniversary date of the agreement on terms of the takeover of BG Group (a tin pot, lacklustre, parvenu outfit) by Royal Dutch Shell plc in 2015. In consequence of BG Group's consistent failures to meet targets and the engineered predatory takeover by Royal Dutch Shell plc the careers and professional lives of many experienced Geoscientists and Engineers were brutally butchered, terminated, and cast aside like so much offal, so it is rather distasteful to see the size of Ben van Beurden's remuneration package being flaunted in the press by Royal Dutch Shell plc.
CEP Problems: It seems to be impossible right now to get any chance of landing a job inside Shell these days. Everytime people apply for jobs unless they have high potential or a diversity point they get rejections. I got told recently that the hiring manager was looking for someone with high potential. Don't these people realise that they also need QUALIFIED people to actually do the work. Ridiculous but it almost getting to age discrimination these days. Rant over.
Shell Canada Insider: SHELL CANADA
...they are wanting to sell their Alberta operations..... because there is no money left in it...they have syphoned it all off.....
I think also on 2010-2011 they had multiple explosions at their Caroline facility supposedly an employee during an explosion at the south compressor station had to be airlifted to hospital and was seriously injured.
The aer/ govt shut it down. it was closed for 6 months and half of the plant was decommissioned when it restarted.
That must have cost them millions of dollars.....there should be government records of this stuff....
The description of the fairleads causing the mooring ropes to chafe to such an extent is almost so ridiculous to render ex-seafarer speechless. The fitting of nylon liners inside the fairleads is something new for me but the idea behind it would may be to reduce the friction of the mooring lines when running through the fairlead thus reduce any temperature potential in a zone 2 area. Fixing one potential risk appears to have created another one of greater risk potential. I am not sure how the nylon liners in the fairleads would have such sharp edges to chafe the mooring lines on their own and perhaps there may have been something else to which the journalist has missed out. The reported leakage of LNG in the manifold area from a flange should not have happened but the liquid transfer areas are all bunded in low-temperature materials and provided with a constant supply of running water during cargo handling activities. Power outages during start-up operations and ongoing are nothing new and others can be expected, hopefully not very often as the restart of such a complicated process system takes a long time and much effort. The problem with firewater deluge over the LNG storage tanks reported is of considerable concern but the journalist does not mention if this was during the period when systems were being tested prior to the introduction of LNG or after. If before then this section of the report is just journalistic license and of no consequence whatsoever. The other issues as reported can be considered minor during the preparation phase before the introduction of hydrocarbons in any form but definitely of concern if these incidents were after the introduction of hydrocarbons. I wish the people who are experiencing the startup of such a complicated and complex plant every success. Take the time that is needed to be successful by being safe, good luck.
John Donovan: Irish Backstop Update
According to a Sunday Times article two days ago, "Ireland continues to dodge difficult questions about how it will protect the single market and also maintain an open border under a no-deal."
IRELAND has been warned it faces the difficult choice between implementing a hard border or being forced out of the EU’s single market in an unprecedented move to protect the bloc from a no-deal Brexit.
Dublin will be forced to make the tough choice if Britain quits the EU without a deal, according to a number of senior EU figures.
The European Commission sparked fury from Ireland after declaring Dublin would have to implement a hard border in the event of a no-deal Brexit. After significant protests from, which involved a heated debate between Leo Varadkar and Jean-Claude Juncker, Michel Barnier, the EU’s chief negotiator, suggested “operational solutions” would have to be found in order to prevent a hardening of the border.
But now high-ranking MEPs have hardened their position, insisting the single market must not be compromised even to maintain peace on the island of Ireland.
Elmar Brok, a German MEP with close ties to Angela Merkel, insisted that if Ireland failed to police its own borders the EU would have to take its own protectionist action.
“We would have to set up a customs border with Ireland,” the German said.
He also warned that if Brussels didn’t make the demands then "we will soon have American chlorine chicken in the EU".
BvB Anti-Brexit: BvB has been quoted in many articles following the outcome of the Brexit vote as expressing negativity about Brexit and the effect it could have on RDS. This can be confirmed by running a Google search on "Ben van Beurden Brexit". The articles today in the Scottish press and Upstreamonline are but the latest publishing his views on the subject. Despite all of the negativity, my own view is that a satisfactory Brexit deal without the backstop will be done. If not, the EU and Ireland will be an international laughing stock when they create a hard border soon after Brexit, the outcome they were supposedly trying to avoid. That development would provide a better example of the consequences of deranged Irish logic than any infantile Paddy joke I can recall. The stupidity of certain Irish politicians is poisoning previously improved relations between the UK and Ireland, which is a great pity.
Brexit: All of the ingredients will be there for a return to violence in the event of the UK being forced into a no deal by Ireland. The current impasse is down to Ireland which may well come to regret its hostility towards the UK. How many of the 17 million Brits who voted for Brexit will wish to holiday in Ireland now?
C16 Inmate: I find it fascinating how so many brainwashed Shell slaves are quick to criticise Mr Donovan for the work he is doing. It is surely his decision and prerogative to do whatever he wants with his own time? Just like you and I choose to work for a slimy, corrupt, evil, fascist, environment destroying company. The only difference is that I actually admit to being a whore that’s sold my soul for money!
As for your defence of Brinded, I find it laughable. That man was an abnoxious individual who was acting more like an SS officer than a senior executive.
Keep up the good work John. Warm wishes and my heartfelt thanks to for keeping us all informed of Shell’s true nature.
REPLY BY JOHN
While I am grateful for the kind words, I do not know of any grounds to support your comment that Shell is a fascist company. With regard to Mr Brinded, despite my many negative comments about him over the years, comparing him with an SS officer is wrong.
PURE POISON: Mr Donovan if it is your twisted objective to poison the Internet for the Shell brand you, unfortunately, seem to be succeeding. Searching for any subject connected with Shell inevitably seems to generate negative news reports, negative information and anti-Shell images, all apparently originated by you. Your allegations about Shell’s alleged Nazi history seem to be spreading across the Internet like a virus. Your Shell-branded counterfeit websites seem to be multiplying almost by the day. I am losing count of them all. This situation is bad for all stakeholders including employees, shareholders and pensioners. I also object to the personal attacks on Shell people, for example on Malcolm Brinded who has never been found guilty of any wrongdoing. Don’t you have any scruples? I am also concerned for your mental health and your bank balance. Is a third party also hostile to Shell funding your pervasive and malicious online activities? What’s the betting that my comments will not appear on your supposedly uncensored Shell Blog? I am also mystified why Shell has not taken action to protect its reputation?
REPLY BY JOHN DONOVAN
Shell has been complaining about my online activities since March 1995 and on occasion has taken legal action, including a three-week high court trial in 1999. There is no possible defamation if what is stated is true.
The most recent proceedings were in 2005 via the World Intellectual Property Organisation. Shell unsuccessfully attempted to seize some of our Shell related domain names including royaldutchshellplc.com and royaldutchshellgroup.com.
All of the litigation cost Shell tons of wasted money in legal fees and attracted negative publicity.
Shell lost every case.
We have sued Shell twice for defamation. Shell settled both cases.
A covert attempt by Shell to close down hosting for our websites failed.
More recently, RDS Company Secretary/Main board member Michel Brandjes threatened legal action over my book about Shell's Nazi history. His emailed threats turned out to be nothing but bluster. Shell will never take legal action on the topic as it would draw attention to the most toxic subject relating to any existing major multinational in the world.
I will continue to publish true facts about Shell and where appropriate corrupt senior management involved in scandals such as the Shell SMART rigged contract tender, the Brent Bravo deaths, the reserves fraud and OPL 245. Mr Brinded has involvement in all four scandals.
BRINDED: ON THE SUBJECT OF BRINDED:
He has such a strange brain, could outthink most people in Shell but rather than concentrate on doing good things for Shell and developing people he became the ultimate micromanager and surrounded himself with sycophants. Until the 2nd half of the eighties he was OK and the driving force of the highly successful SLIM technology. I believe this was what launched his big career. Thereafter he became moody and unpleasant for people who dared to question him or make good suggestions to him. Probably quite insecure and status conscious. Never understood this. He just took himself too seriously.
FG names Shell, Eni executives in $1bn bribery case – The Punch 08 May 2019 11:43 Google ’Femi Asu with agency report
Royal Dutch Shell Plc and Eni SpA face additional corruption allegations over a Nigerian oil deal, after the Federal Government said in a London lawsuit that it believed a handful of executives, including Chief Executive …
FG files fresh charges against Shell executives, JPMorgan over Malabu Oil scandal 08 May 2019 10:01 Herald Sequel to the lawsuit filed last year against Royal Dutch Shell Plc, Eni and JP Morgan for being involved in a $1bn oil block bribery case, the Federal Government has submitted new case documents that indict their top executives.
FG said in the court files …
FG names Shell, Eni executives in $1bn bribery case 08 May 2019 08:09 Punch Newspapers ’Femi Asu with agency report
Royal Dutch Shell Plc and Eni SpA face additional corruption allegations over a Nigerian oil deal, after the Federal Government said in a London lawsuit that it believed a handful of executives, including Chief Executive …
Dutch Prosecutors to Arraign Shell over $1.3 billion Acquisition of OPL 245 02 Mar 2019 10:19 Biz Watch Nigeria Dutch Prosecutors to Arraign Shell over $1.3 billion Acquisition of OPL 245
Dutch prosecutors are preparing criminal charges against Royal Dutch Shell over its $1.3 billion acquisition of Nigerian offshore oilfield OPL 245 in 2011.
Shell said in a …
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON. EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
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EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.