Royal Dutch Shell said it is examining plans with Gazprom to expand Sakhalin projects beyond their liquefied natural gas venture in the Far East.
April 29th, 2009:
Gazprom, Shell May Expand Venture
Royal Dutch Shell predicts lull in growth as profits fall
Daily Mail
By SAM FLEMING
Last updated at 9:11 PM on 29th April 2009
Oil prices may not bounce back for 12 to 18 months, Royal Dutch Shell warned after a sharp fall in profits.
Profit warning: Royal Dutch Shell says it could be another 12 months before oil price bounce back
First-quarter earnings tumbled 58 per cent to £2.2billion after oil prices more than halved.
Demand may fall further because of the mounting recession, said chief financial officer Peter Voser, who replaces Jeroen van der Veer as chief executive this summer.
Lex: Royal Dutch Shell
...Shells trading numbers made for some grim reading on Wednesday. Its high-cost oil sands business swung sharply into loss compared with last year. The same was true for chemicals, due to a collapse in demand. Earnings from gas and power halved, while those from exploration and production fell by two-thirds.
To invest or not to invest, that is the question
The industry is, in effect, back to the days when oil was about $10 per barrel, and many of the biggest companies Shell not among them were forced to merge to cut costs.
Royal Dutch Shell’s profits fall 58pc on oil price slide
Daily Telegraph
Group increases debt to pay for dividend rise and capital expenditure
By Garry White
Last Updated: 7:33PM BST 29 Apr 2009
Royal Dutch Shell’s profits more than halved in the first quarter as oil prices tumbled, forcing the energy group to increase its debt to support both the dividend and its investment programme.
Despite the 58pc fall in profits to $3.3bn on a current cost of supplies basis, which takes into account changes in the value of oil and distillate inventories, Shell beat consensus forecasts of $2.6bn. The group’s performance for the three months to March reflected the oil price, which averaged $43.20 over the period compared with $97.86 in the first quarter of 2008.
Shell committed to tar sands despite $42m losses
Shell has pledged to continue with its controversial tar sands projects but has been forced to consider far-reaching cost cuts to keep the operations going after they lost $42m (£28m) in the last three months
Shell says retendering some Port Arthur contracts
LONDON, April 29 (Reuters) – Royal Dutch Shell Plc (RDSa.L) is retendering some contracts for the expansion of its Port Arthur refinery in the U.S., but this will not lead to any delays in startup of the new capacity, Chief Financial Officer Peter Voser told analysts on a conference call.
(Reporting by Tom Bergin, editing by Will Waterman)
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Security Problems Cut Shell 1Q Nigeria Production 39%
LONDON (Dow Jones)--Royal Dutch Shell PLC's (RDSB.LN) output from onshore operations in Nigeria was more than 90,000 barrels equivalent per day, or 38.5%, lower in the first quarter of 2009 compared with a year ago as security problems shut down a major pipeline and gas plant, the chief financial officer Wednesday.
Shell follows BP with 58% first-quarter fall
The figures also show that Shell is failing to cover its capital spending programme and its dividend payments from its income. Cash flow from operations was $7.9bn, while capital spending was $7.1bn and dividend payments were $2.4bn a shortfall of $1.5bn. As a result, Shells debts have been rising.
Shell sees protracted oil price weakness
LONDON, April 29 (Reuters) - Oil and gas prices are unlikley to rise significantly in the next 12-18 months, because of economic weakness, the Chief Financial Officer of oil major Royal Dutch Shell Plc (RDSa.L) said on Wednesday.
Shell CFO: Renegotiated Costs Down 15%-20% On Some Contracts
LONDON (Dow Jones)--Royal Dutch Shell PLC (RDSB.LN) made good progress cutting costs in the first quarter and renegotiated some contracts made in 2005 and 2006 down by 15%-20%, said the company's Chief Financial Officer Peter Voser Wednesday.
Deleted Wikipedia article: Royal Dutch Shell initiatives
Royal Dutch Shell is responsible for many important initiatives in relationship to the environment, encouraging business start-ups, supporting charitable causes and other good works.
Congressional Commission Hears Testimony on Shell’s Environmental Abuses in the Niger Delta
Hearing Comes Four Weeks Before Landmark Human Rights Case, Wiwa v. Shell, Goes to Trial in Federal Court in New York
Shell profits skid 58pc in first quarter
Daily Telegraph
Royal Dutch Shell profits more than halved to $3.3bn (£2.2bn) in the first quarter of the year as the deepening global recession hit demand and dragged down oil prices.
By Telegraph Staff
Last Updated: 8:56AM BST 29 Apr 2009
Profits for the first three months of 2009 are 58pc lower than the same period a year ago and 31pc down on the last quarter of 2008.
The price of crude oil in London is trading around $50 a barrel, down from a record high of $147 last July. The high was hit just before the financial crisis came to a head in the autumn and the worlds biggest economies went into reverse.
Royal Dutch Shell Chief Executive Jeroen van der Veer said the weaker global economy has created challenging condition for both its exploration and retail businesses.
Shells First-Quarter Profit Declines on Oil Price
April 29 (Bloomberg) -- Royal Dutch Shell Plc, Europes largest oil company, said first-quarter profit fell 62 percent as a slump in crude prices reduced earnings from exploration and production.