A fortnight after Shell's defeat, it's worth asking: what is Job waiting for? If he's hoping that shareholders' anger will abate, he will be disappointed. Fund managers remember how he referred to the bonus issue as "an irritant" and they are determined to be irritating.
June 2nd, 2009:
Shell investor anger will test patience of Job
Shell goes on the road to charm City investors after shareholder revolt
Job will also go on the road to meet critics who are demanding his resignation in the wake of the vote.
BP yields to pressure and closes final salary pension scheme to new members
Royal Dutch Shell, BPs main rival, continues to offer a final salary scheme to its UK workforce, but BPs move is likely to prompt fresh speculation that Shell will follow its competitors lead.
The breathtaking hypocrisy of Shell bosses Malcolm Brinded and Richard Wiseman
By Alfred and John Donovan
Although this story relates to events which occurred many years ago, it reveals the breathtaking hypocrisy of two people currently at the very top of Shell, Malcolm Brinded (above) and Richard Wiseman.
Brinded is number 2 at Royal Dutch Shell Plc, having just missed out in the race for the top job, won by Peter Voser. Richard Wiseman is the Chief Ethics & Compliance Officer for the oil giant.
Both have made speeches proclaiming the importance of Shell’s General Business Principles pledging honesty, integrity and transparency in all of Shell’s dealings.
Shell warns oil prices could spike on low investment
Tue Jun 2, 2009 8:09am EDT
ABU DHABI, June 2 (Reuters) – Low energy investment could lead to a future spike in oil prices, the chief executive of Royal Dutch Shell Plc (RDSa.L) said on Tuesday.
“If the oil prices stay volatile I’m afraid there will be too much slowdown in investment,” Jeroen van der Veer said at an energy conference in Abu Dhabi.
“I think too low capacity means the next price spike is to come.”
Shell has pledged to continue investing despite a decline in crude prices from peaks of almost $150 a barrel last summer. The company plans to invest $31-32 billion in projects this year, compared with $30 billion last year.
Royal Dutch Shell CEO says making cost savings
Tue Jun 2, 2009 5:18am EDT
ABU DHABI (Reuters) – Royal Dutch Shell Plc said on Tuesday it had seen costs come down in the last few months as it renegotiated with project contractors.
“As far as projects are concerned and normal operating costs, we see a lot of our renegotiations … enter with lower costs at this moment,” Chief Executive Jeroen van der Veer said on the sidelines of an industry conference in Abu Dhabi.
Big oil suppliers, including those in the oil-exporting Gulf region, have driven down project price tags by billions of dollars as they force contractors to go back to the drawing board to factor in cheaper costs.
Royal Dutch Shell seeing real cost savings -CEO
ABU DHABI, June 2 (Reuters) – Royal Dutch Shell Plc (RDSa.L) has seen costs come down over the past few months as projects are renegotiated, the firm’s chief executive Jeroen van der Veer told reporters on Tuesday.
“As far as projects are concerned and normal operating costs, we see a lot of our renegotiations … enter with lower costs at this moment,” van der Veer said on the sidelines of an industry conference in Abu Dhabi.
“So we talk about real cost savings,” he said.
Chevron Expects Gorgon Decision in Coming Months
Western Australias Environmental Protection Authority recommended in April the government approve the project for construction under stringent conditions. California-based Chevron and its venture partners, which include Exxon Mobil Corp. and Royal Dutch Shell Plc should change the location of some equipment at the site to avoid harming flatback turtles that nest on a nearby beach and do real-time monitoring on the effects of dredging to avoid destroying coral, it said.
Carbon Plan Puts Unfair Burden on LNG, Woodside Says
Woodside, 34 percent held by Royal Dutch Shell Plc, operates and owns one-sixth of the North West Shelf Venture, Australias biggest LNG producer, and is building the A$12 billion ($9.7 billion) Pluto LNG project. Its among companies proposing some 10 LNG developments in Australia and Papua New Guinea targeting a forecast gain in demand in north Asia for cleaner-burning fuel.
Shell: stiff resistance to oil sands exploration
Royal Dutch Shell is facing renewed opposition to its investments in Canada's oil sands from environmental groups, which believe that such exploration work can severely increase the carbon intensity of energy production. However, the adoption of alternate fuel sources is inevitable in the long-term and technological advances have the potential to address many of the environmental concerns.