Royal Dutch Shell Plc said it will comply with international rulings on gasoline supplies to Iran as part of United Nations sanctions against the country over its nuclear program.
October 29th, 2009:
Shell to comply with Iran gasolene sanctions
Shell slashes jobs as shares slide on poor quarterly results
DAILY MAIL
By Daily Mail Reporter
Last updated at 10:12 AM on 29th October 2009
Oil giant Royal Dutch Shell today announced it was cutting 5,000 jobs as weaker oil prices and the ailing global economy saw profits plunge.
The Anglo-Dutch company reported a decrease in profits of 73 per cent to $2.99billion (£1.83billion) between July and September.
Chief executive Peter Voser said that despite some positive signs the outlook for the industry remained tenuous.
We see some indications that energy demand and pricing are improving, but the outlook remains very uncertain, and we are not expecting a quick recovery, he said.
Changing mood of Shell Staff arising from restructuring
AN EMAIL SENT TO SHELL CEO PETER VOSER FROM JOHN DONOVAN: 29 OCTOBER 2009 11.49 GMT
Dear Mr Voser
As well as being the operator of a well known Shell related website (royaldutchshellplc.com) I am also a long term Shell shareholder.
I received yesterday an email from a person closely associated with Shell providing a perspective on the changing mood of Shell staff arising from the restructuring. His comments struck me as being timely, genuine and well-informed. If correct, they are likely to be a cause for concern to you, your colleagues and Shell shareholders.
Around $5 billion to be injected into Shell Pension Fund hit by slump
LONDON (Dow Jones)--Royal Dutch Shell PLC (RDSB.LN) will only have to top up its pension fund by around $5 billion, compared with previous expectations of $6-8 billion, because of the recovery in global equity markets, said Chief Financial Officer Simon Henry Thursday.
Shell Results a Disappointment
By WSJ Staff
- October 29, 2009, 4:49 AM ET
Royal Dutch Shells third quarter earnings, out this morning, are a disappointment, says Peter Hutton at NCB. After BPs slam dunk results, this is only a bit up .5% is a bit anemic, referring to how much the companys clean current cost of supplies beat consensus by. Shells third-quarter clean current cost of supplies was $2.62 billion, ahead of consensus forecasts of $2.5 billion. Hutton had expected $2.89 billion. BP beat consensus forecasts by 50%, he says.
Our third-quarter results were affected by the weak global economy. Upstream and downstream profitability has been sharply reduced compared to year-ago levels, said Shell Chief Executive Peter Voser. We see some indications that energy demand and pricing are improving, but the outlook remains very uncertain, and we are not expecting a quick recovery.
Shell Shares Drop As 3Q Profit Fails To Impress
LONDON (Dow Jones)--Royal Dutch Shell PLC (RDSB.LN) shares fell 3.4% Thursday after the company posted a 67.6% fall in adjusted third-quarter profit on lower oil and gas prices, disappointing analysts by failing to beat modest expectations.
Fall In Oil Price Hits Profits At Shell
Adam Arnold, Sky News Online
Oil giant Royal Dutch Shell made profits of £1.8bn in the third quarter – down 73% on the same period last year.
Profits fall sharply compared with same period in 2008
The company has been hit by falling oil and gas prices.
Shell’s share price fell around 3% in early trading following the results.
Chief executive Peter Voser said there were indications that energy demand and prices were “improving”.
But he also said the “outlook remains very uncertain” and the company was not expecting a “quick recovery”.
He went on to say his restructuring programme was yielding results with operating costs lowered by £608m in the first nine months of 2009 and around 5,000 jobs cut.
Shell sees no ‘quick recovery’ as energy company cuts 5,000 jobs
Daily Telegraph
Royal Dutch Shell is not expecting a quick recovery after shedding 5,000 jobs in a global restructuring and seeing profits drop 73pc on lower oil and gas prices.
By Rowena Mason
Published: 7:59AM GMT 29 Oct 2009
Royal Dutch Shell B
Europes biggest energy company made $2.99bn in profits on a cost of supplies basis a measure that strips out the effect of changing inventories slightly beating analyst expectations. Revenue fell 43pc to $76bn.
Peter Voser, the chief executive who took over in July, said 10pc of the oil giants staff would be leaving, after profitability in both upstream and downstream divisions was sharply affected by the recession.