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Posts Tagged ‘Rex Tillerson’

What the BP Oil Disaster Tells Us About Arctic Drilling: Keep Out!

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BY CAROL BROWNER AND MICHAEL CONATHAN 4/20/15

Screen Shot 2015-04-02 at 14.53.31Five years ago today, an explosion on board the oil rig Deepwater Horizon killed 11 men and unleashed one of the largest and costliest offshore oil disaster this nation has ever experienced. By the end of 2014, BP, the company primarily responsible for the disaster, estimated the overall economic losses from the spill at over $43 billion.

The disaster that began five years ago today must serve as a reminder that offshore oil and gas exploration and development never comes without risk. In the Arctic Ocean, where Royal Dutch Shell is preparing to return to drill sites it last explored in 2012, that risk is unacceptably high. Simply put, the United States should not permit oil drilling in the Arctic Ocean. read more

royaldutchshellplc.com and its also non-profit 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.

Oil CEO Wages Immune to Price Slump as Shareholders Vote on Pay

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Article by Rakteem Katakey published 15 April 2015 by Bloomberg.com

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Ben van Beurden, Chief Executive Officer of Royal Dutch Shell Plc, pauses as the company announce their fourth-quarter results in London on Jan. 29. Photographer: Chris Ratcliffe/Bloomberg

Oil’s plunge has forced the world’s biggest energy producers to lay off workers and stall projects. Their chief executive officers have so far proved immune.

Royal Dutch Shell Plc, Europe’s biggest oil company, paid CEO Ben Van Beurden a total of $32.2 million last year, almost three times the amount his predecessor Peter Voser earned in 2013, according to data compiled by Bloomberg Intelligence. At BP Plc, where shareholders will vote on compensation at the annual general meeting on Thursday, CEO Bob Dudley’s total pay rose 4.9 percent to $15.4 million. read more

royaldutchshellplc.com and its also non-profit 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.

ExxonMobil could snap up BP in a single bite

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Information sourced from an FT article by Energy Editor Christopher Adams published 15 February 2015 under the headline:

“BP’s battles leave it vulnerable to major move”

Extract

If ExxonMobil chief executive Rex Tillerson really wanted to, he could snap up BP in a single bite. Of all the UK major’s rivals, Exxon, the world’s biggest energy company, has the firepower to swallow BP whole. Could it happen? Some industry insiders think yes.

The article sets out the reasons already highlighted by many other industry experts and observers.

  • The financial fall out from Deepwater Horizon disaster
  • BP’s “languishing” share price
  • The collapse in the price of oil

It points out that as a result of the combined factors, BP’s continuing membership of the “the Big Five” is doubtul and sets out the benefits of a takeover by ExxonMobil, including the potential for Exxon to manipulate U.S. courts to bring down costs arising from Deepwater Horizon and from taking over BP’s stake in the Rosneft/Putin Arctic drilling project. read more

royaldutchshellplc.com and its also non-profit 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.

Exxon CEO Advocates Emissions Tax

ConocoPhillips and the U.S. divisions of BP PLC and Royal Dutch Shell PLC have all supported a cap-and-trade solution.

royaldutchshellplc.com and its also non-profit 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.

At Exxon’s Can’t-Miss Meeting

Last year was another fabulous year for Exxon Mobil. It made a record $40.6 billion in profits. It replaced its reserves, no easy task with oil so hard to find and extract these days. Its safety record was stellar. Its return on capital was an astounding 32 percent, another record. It spent $21 billion in capital investments while also paying out $36 billion on a combination of dividends and stock buy backs. It share price rose 22 percent.

royaldutchshellplc.com and its also non-profit 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.

More support for Exxon Mobil dissidents’ proxy fight

Four U.K.-based investors and a British proxy advisory firm publicly joined a group of dissident shareholders calling for an independent chairman at Exxon Mobil Corp. on Monday.

royaldutchshellplc.com and its also non-profit 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.

Exxon Chief Criticizes U.S. Oil Policy

Exxon Mobil Corp. Chairman and Chief Executive Officer Rex Tillerson says he finds it "astonishing" that President Bush is asking Saudi Arabia to pump more oil rather than working harder to clear the way for more oil production at home.

royaldutchshellplc.com and its also non-profit 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.

Exxon must act to keep an enviable reputation

Whether viewed over the past five years or past 20, Exxon's total shareholder returns have comfortably exceeded the average of its peers: Royal Dutch Shell, BP and Chevron.

But nobody is perfect...

royaldutchshellplc.com and its also non-profit 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.

A Change of Leadership For Big Oil Companies

THE WALL STREET JOURNAL: A Change of Leadership For Big Oil Companies

“Under Mr. Raymond, Exxon has become industry’s tallest lightning rod in the debate over how much fossil-fuel emissions may be contributing to a warming of earth’s temperatures. Fellow oil giants BP PLC and Royal Dutch Shell PLC have taken an environmentally friendly stance with initiatives that promote the development of alternative fuels.”

Friday 5 August 2005
Raymond Turns Over Reins
To Tillerson as Exxon Hits
Height of Earnings Powers

By SUSAN WARREN and JEFFREY BALL
Staff Reporters of THE WALL STREET JOURNAL
August 5, 2005; Page A3

Rex W. Tillerson, anointed to become Exxon Mobil Corp.’s new chairman and chief executive officer at the end of the year, is going to have one of the toughest acts to follow in modern management history.

Exxon yesterday said Lee R. Raymond will retire at the end of this year, ending more than two years of speculation about when he would turn over the reins. Mr. Tillerson, 53 years old, became heir apparent in March 2004 when he was named to the position of president. Exxon said it expects its board to elect Mr. Tillerson as Mr. Raymond’s successor. read more

royaldutchshellplc.com and its also non-profit 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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