PORT HARCOURT, Nigeria, May 22 (Reuters) - Nigerian security forces have foiled an attack on a maintenance crew heading to a Royal Dutch Shell oilfield in the Niger Delta, company and army officials said on Thursday.
May 22nd, 2008:
Nigeria foils attack on Shell crew in oil delta
Shell Retention Bonuses AGM Vote: “Together with those who abstained from the vote, a total of 49.5 percent didn’t support the bonuses.”
A total of 31.76 percent of voting shareholders rejected a plan to award Malcolm Brinded, Linda Cook and Peter Voser bonus payments of one million euros ($1.57 million), according to Shell's Web site. Together with those who abstained from the vote, a total of 49.5 percent didn't support the bonuses. The proposal would have been rejected if 50 percent plus one vote had opposed the bonuses.
Jeroen van der Veer, chief executive of Shell, answers back
How has the culture of Shell changed since the reserve scandals of 2004?
A: Jeroen van der Veer:
Absolutely. The unification of Royal Dutch and Shell Transport in 2005 has simplified our governance structure. Accountabilities are now absolutely clear. We have a single chief executive. We have a single board. And it is a board where there is true dialogue! So were in very good shape on that front.
Shell CEO says cool on takeovers
LONDON (Reuters) - Royal Dutch Shell Plc sees better value in developing its own base of oil and gas fields than buying rivals, Chief Executive Jeroen van der Veer said on Thursday.
Shell CEO says record oil not due to shortage
LONDON (Reuters) - Oil prices at a record high above $135 a barrel are rising due to market sentiment rather than a shortage of supply, Royal Dutch Shell's chief executive said on Thursday.
Trees planted to protest Shell oil refinery project
If it proceeds, the multi-billion refinery, expected to process heavy oil from the Alberta tar sands, would be one of the largest construction projects in Ontario's history.
First Nations group campaigns against refinery project
A women's group from Walpole Island First Nation will host a traditional aboriginal ceremony today in support of a panel study into the proposed Shell refinery project.
Jeroen van der Veer and the Shell reserves fraud
There was speculation in the news media about the involvement of Jeroen van der Veer, a Group Managing Director. Recently published court documents relating to the remaining litigation arising from the scandal throws more light on his involvement
Shell’s “Golden Handcuffs” Retention Bonuses: Former Shell Exec Paddy Briggs, calls for the resignation of Shell Director Sir Peter Job
Description of Shell non-executive director Peter Job at the Royal Dutch Shell Plc AGM: He bluffed and blundered to little effect and showed precious little understanding of the issues. There was absolutely no justification given for the scandalous "retention bonuses"...
Fuel-Price Protests Spread Across Europe
European protests against soaring fuel prices spread across the continent Wednesday...
Big Oil and Lawmakers Spar Over Supplies
WASHINGTON -- As oil prices crossed $130 a barrel Wednesday, industry executives defended themselves against lawmakers blaming them for high prices, while asking senators to open access to domestic resources and reject tax increases.
The Exxon Fight, Round 2
Who wins in a shareholder war between green-collar activists and blue-collar union pensioners? Hard to say. But round two in the battle over the fiduciary responsibilities of corporate giant Exxon Mobil ought to be illuminating for investors.
Energy Watchdog Warns Of Oil-Production Crunch
The world's premier energy monitor is preparing a sharp downward revision of its oil-supply forecast, a shift that reflects deepening pessimism over whether oil companies can keep abreast of booming demand.
Heated argument at Shell AGM over “fat cat” retention bonuses
In an outburst reminiscent of the most heated arguments over "fat cat" pay, one aggrieved shareholder at Royal Dutch Shell's annual meeting on Tuesday bellowed: "I find this bonus culture repulsive and I beg people to vote against it." The Anglo-Dutch oil giant went on to suffer a severe dressing down when nearly half of its voting shareholders failed to back a plan to pay one-off retention bonus- es of stock worth up to 1m (£801,000) to three of its executives to entice them not to quit their jobs before 2011.
Another shareholder rebellion against fat cat retention bonuses
The revolt comes a day after a fraction less than half of Royal Dutch Shell's shareholders declined to back a plan to pay one-off 1m (£800,000) retention bonuses to the three executives who are likely candidates to succeed the departing chief executive next year.
Oil giants defend obscenely high profits: “no ethical compass about the price of gasoline”
Mr Simon, along with executives from BP, Shell, Chevron and ConocoPhillips, were grilled by lawmakers including Dianne Feinstein, a California Democrat, who said: "You rack up record profits and apparently have no ethical compass about the price of gasoline."
Paying for staying: Retention Bonuses
This week, Royal Dutch Shell forced through a proposal to pay bonuses to three executives just to stay in their jobs, even though investors holding almost half its voting shares failed to back the plan. Shell's scheme for the three frontrunners to become chief executive next year is a particularly unappealing example of the genre. There was not enough consultation with shareholders. This reflects badly on the board, whether it realised the hostility that might be provoked or was oblivious to it.
Oil upstart Regal has had its ups and downs of late…
...now theres a new CEO in David Greer (the Shell veteran who became notorious for the leaked motivational memo in which he wrote: Lead me, follow me, or get out of my way)
Heavyweight investors join Rockefeller rebellion at ExxonMobil
Bill Lockyer, state treasurer of California, contrasted Exxons view of itself as an oil company with the approaches of BP and Shell, which have attempted to re-shape themselves as broader energy providers using alternative sources of power.
House prices force Americans to sleep in cars
Increasing numbers of women and elderly people are taking advantage of a scheme in one of America's wealthiest cities that enables the homeless to sleep safely in their cars at night.
High oil prices threatens a prolonged period of lethal global stagflation: “will Chinese demand drive oil prices to $50 or $100 or $1,000?”
The escalation of oil prices, which this week reached a previously unthinkable $130 a barrel (with predictions of $150 and $200 soon to come), threatens to do far more damage to the world economy than the credit crunch.
Claims of insider dealing are wrong, Shell lawyer tells court
The case is the first insider trading case to make it to the High Court and last year shareholder spokesman Tony Gavigan said getting the matter to trial had cost about $8 million, similar to the amount he claimed Shell had spent defending the case.
IT Outsourcing: Shell says it has received full assurances over HP take-over of EDS
Meanwhile, a spokesman for EDS customer Shell said it had already received full assurances over the merger. Shell is in the process of transferring 3,200 IT jobs to a number of outsourcing partners, including EDS. The spokesman confirmed that "we will continue with the timely transfer of services and personnel from Shell to EDS as planned".
Shell to get offer for Dominican refinery stake
Royal Dutch Shell Plc will get a buyout offer on Monday for its 50 percent stake in the oil refinery it owns in the Dominican Republic together with the Caribbean nation's government, Finance Minister Vicente Bengoa said on Wednesday.