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Shell disappoints as profits fall

26 July 2012

Falling energy prices have left its mark on Royal Dutch Shell after a weaker-than-expected profits performance drove a big fall in its share price.

While chief executive Peter Voser insisted the Anglo-Dutch company was “moving forward in volatile times”, Shell’s second quarter profits of 5.7 billion US dollars (£3.7 billion) were down 13% and below City hopes.

Shell increased upstream production by 4% to 3.1 million barrels a day in the quarter – driven by improved output of natural gas – but this was more than offset by the drop in global energy prices in the period. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell’s pay plans are ‘excessive’

Oil giant Royal Dutch Shell is set to suffer a backlash from shareholders over executive pay, including a £9.4 million package for its boss.

Chief executive Peter Voser took home 11.7 million euros last year – more than double the amount he earned in 2010 – after lucrative long-term incentive plans paid out.

20 May 2012

He earned 5.2 million euros (£4.2 million) in annual salary and bonus awards, which was slightly down on the previous year, but his total pay was boosted by 6.5 million euros (£5.2 million) from long-term rewards plans.

Shareholder body Pirc advised clients to vote against the company’s remuneration report at its annual meeting on Tuesday after branding its pay “excessive”.

Although salaries have effectively been frozen since 2009, it said they are still at the high end of its UK peer group and will see increases of between 3% and 5% in 2012. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

UK slammed for ‘bribery’ inaction *(take note Shell)

The OECD, the only international body enforcing anti-bribery accords, launched a review of UK anti-bribery measures in the wake of the decision of the Serious Fraud Office in 2006 to drop an investigation into BAE Systems over an arms deal with Saudi Arabia.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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