Shell and Exxon Mobil Corp. are preparing to keep their U.S. plants running in a walkout, using managers and other non-union employees to keep sites operating

Shell hopes there might be new opportunities in countries such as Iran because US president Barack Obama’s election is pursuing a less hard line with the country than George Bush. “Iran has some of the largest reserves of gas in the world,” said van der Veer.

SHELL E&P Ireland has initiated a new €5 million investment fund over three years in north Mayo as part of its commitment to the Corrib gas project. The Royal National Lifeboat Institution (RNLI) and Belmullet GAA are to be recipients of the first tranche of funding of €400,000 in total.

Further north lies Corrib, Co Mayo, which has an estimated value of anywhere between EUR6billion to EUR50billion. The field - which has been the scene of much controversy - is being developed by Shell, Marathon and Statoil.

On 19 January disturbing rumours over the Motiva Plant expansion in Port Arthur Texas were brought to our attention. Motiva Enterprises LLC is jointly owned by Saudi Refining and Shell.

Brinded said Shell had a "dreadful start" to this year after 10 contractors and one third party were killed in three incidents...

Exxon Mobil's strong financial position has fueled speculation that it might bid to acquire another sizable company. "They don't need a line of credit," Gheit said. "Exxon can theoretically acquire any of its rivals with 35 percent premium, and they can boost earnings per share, cash flow per share and stock valuation because of their ability to squeeze out costs."

Oil industry officials and air safety experts said Shell's decision is one of the rare instances when a major user or operator has temporarily halted flights of such a large number of the popular, 12-person choppers. The Sikorsky spokesman said Shell continues to use the models in other parts of the world.

Shell's decision to double its capex in recent years was largely forced on it to counter falling production and reserves which were the result of earlier underinvestment.

Shell gets tough on costs as oil prices bite

 Tom Bergin

Royal Dutch Shell has intensified its cost-cutting efforts in response to the collapse in oil prices and also plans to step up efforts to improve what it said was a “mixed” safety record.

Shell’s head of Exploration and Production Malcolm Brinded told employees in an email seen by Reuters that staff had to make “tough choices.”

“We simply need much higher sustainable savings this year and I ask for real actions from all of you …. Shed contractor staff, challenge requirements, eliminate consultancy work, reduce travel massively, cut overheads everywhere,” he said. read more

Fri Jan 30, 2009 7:36pm GMT

By Tom Bergin

LONDON (Reuters) – Royal Dutch Shell (RDSa.L) has intensified its cost-cutting efforts in response to the collapse in oil prices and also plans to step up efforts to improve what it said was a “mixed” safety record.

Shell’s head of Exploration and Production Malcolm Brinded told employees in an email seen by Reuters that staff had to make “tough choices.”

“We simply need much higher sustainable savings this year and I ask for real actions from all of you …. Shed contractor staff, challenge requirements, eliminate consultancy work, reduce travel massively, cut overheads everywhere,” he said. read more

The following leaked Shell internal emails contain candid admissions from Shell senior management not provided to shareholders in the Q4 financial results published on the same day. I have highlighted in bold examples of the candid admissions meant for Shell employees only. I supplied the leaked emails to Reuters who published an article after confirming the authenticity of both emails with Shell.

Credit Suisse analyst James Neale, in a note to investors, voiced concern that “the company’s return to growth will be short-lived in view of efforts by the company to slow final investment decisions on future growth projects due to current economic weakness, and in order to await lower future service costs.”

Although Shell said it would spend more this year than last, it has also postponed some decisions on major investments in the hope that costs may come down. These include Carmon Creek in Canada; Mars B, an oil project in the Gulf of Mexico; and the Pierce field in the U.K. Last year, it also announced it was putting off a decision to expand its Athabasca oil-sands development in northern Canada.

At last year's World Economic Forum, he was among those who saw no reason to panic about economic downturn. In the event, the onset of recession eroded oil demand, helping to pull the oil market down from a record of nearly $150 a barrel last July to around $40 now.

Shell also revealed that it had a total $8.3bn deficit in its worldwide pension funds because of the fall in share prices last year. The figure is only about 5 per cent of its market capitalisation.

Profits at Royal Dutch Shell slumped in the fourth quarter as the oil group paid the price for its high-cost business model in Canada and crumbling refining and chemical margins.

Shell Oil Co., which is representing the energy industry, has been meeting with negotiators from the United Steelworkers Union in Austin.

Jan. 29 (Bloomberg) -- Royal Dutch Shell Plc Chief Financial Officer Peter Voser declined to comment on reports of a possible bid for Nexus Energy Ltd., the developer of the proposed Crux natural gas liquids venture off northern Australia.

An 11-year-old girl has been shot dead as she tried to prevent militants kidnapping her brother in Nigeria's oil-producing Niger Delta region. The armed men seized the boy as the two walked to school in Port Harcourt, capital of Rivers State. The children's father works for Royal Dutch Shell, a company spokesman said.

Production in 2008 fell 2pc year-on-year due to problems in Nigeria with the militant Movement for the Emancipation of the Niger Delta (MEND), asset disposals and a lower production sharing volumes.

LONDON (AFP) — Anglo-Dutch energy giant Royal Dutch Shell said Thursday it made a net loss of 2.81 billion dollars (2.15 billion euros) in the final quarter of 2008 as plunging oil prices slashed the value of inventories.

LONDON, Jan 29 (Reuters) - Royal Dutch Shell Plc (RDSa.L) said its various pension funds around the world were underfunded by $11.83 billion after market turbulence hit asset values.

While Shell hailed the figures, which represented a 14 per cent rise on the previous year, the profit triggered anger from the trade unions. "Shell is still feasting while the rest of us face famine. Its profits are the biggest in UK history," said Derek Simpson, Unite's joint general secretary. "A compelling case still remains for a windfall tax on the greedy energy companies. Working families are struggling in the face of the recession, the redistribution of windfall profits would help support Britain through these difficult times."

Jan. 29 (Bloomberg) -- Royal Dutch Shell Plc, Europe’s largest oil company, said the cost of producing Canadian oil sands rose to about $38 a barrel last year, including fuel expenses.

Thu Jan 29, 2009 12:42pm GM

(Reuters) – Oil major Royal Dutch Shell Plc said all its major projects currently under construction were on track, despite concerns its U.S. refinery expansion programme was losing steam.

“All post-FID (Final Investment Decision) projects are on track for planned start up,” spokesman Adam Newton said when asked about a report that work on the Port Arthur refinery, which Shell co-owns with Saudi Aramco, had slowed.

The expansion is scheduled to be completed in 2010. read more

LONDON, Jan 29 (Reuters) – Oil major Royal Dutch Shell Plc (RDSa.L:Quote, Profile, Research) said its focus in the Canadian oil sands industry was on improving the functioning of its existing facilities rather than sanctioning new projects.

Chief Financial Officer Peter Voser said on a call with reporters on Thursday that cash costs in oil sands, including energy costs, is around $38/barrel.

(Reporting by Tom Bergin; Editing by Mike Nesbit)

© Thomson Reuters 2009 All rights reserved

Reuters Article read more

Jan. 29 (Bloomberg) -- Royal Dutch Shell Plc, Europe’s largest oil company, posted its first quarterly loss in 10 years after lower oil prices reduced earnings from exploration and production and the value of inventories fell.

The Associated Press

Published: January 29, 2009

AMSTERDAM, Netherlands: Royal Dutch Shell PLC, Europe’s largest oil company, has reported a $2.81 billion net loss for the fourth quarter as the price of oil fell sharply and it wrote down the value of its inventory.

The company had $8.47 billion in net profit in the same period a year earlier.

The company said Thursday sales fell 24 percent to $81.1 billion. Crude production was down less than one percent to 3.42 million barrels per day, but Shell’s selling price fell 29 percent to $58.40 as the global economic slowdown hit demand. read more

The Santa Monica activist group has raised concerns to state officials that Shell Oil, a major crude supplier to Big West, may be withholding supply from the refinery. Shell is the former owner of the Bakersfield refinery and tried to close it several years ago before being forced by the state to sell it to boost competition. Christine Gasparac, a spokeswoman for the California attorney general's office, confirmed that the agency's antitrust section was investigating "whether [Shell] illegally refused to sell crude to Flying J or shut off pipeline access." Shell could not be reached for comment.

MARTINEZ — Contra Costa sheriff's deputies were called to control a crowd of 100 steel worker union picketers when a protest in front of the Shell oil refinery got out of hand Wednesday afternoon.

(SHARECAST) - Oil giant Royal Dutch Shell said industry conditions remain challenging as it announced lower fourth quarter earnings.

29/01/2009

At 07.00 GMT (08.00 CET and 02.00 EST) on Thursday 29 January, 2009 Royal Dutch Shell plc released its fourth quarter and full year results and fourth quarter interim dividend announcement for 2008.

“We delivered satisfactory performance in the fourth quarter of 2008, given the pressure on demand for oil and gas due to a weaker global economy. Our strategy remains to pay competitive and progressive dividends, and to make significant investments in the company for future profitability. Industry conditions remain challenging, and we are continuing the focus on capital and cost discipline in Shell.” read more