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February, 2010:

Tip for Shell CEO Voser on who to fire

FROM A SHELL INSIDER

MR OVERPROMISE AND UNDERDELIVERY

Tip for Voser: if production is declining for the seventh year in a row while predicting all those years it would increase, thereby justifying the enormous investments, what does this say of your head of upstream? You know the bald fellow with the facial hair? Him with the same senile smile as Tony Blair? The mother of all micro managers? The one who did the same when he was the boss of Expro? The one being accused of criminal behaviour resulting in the death of two workers on Brent? The one who ‘manages’ some 200 projects personally? The one who surrounds himself with sycophants? (FYI a sycophant is a self-seeking, servile flatterer; fawning parasite). Yes, I mean Brinded. And to be more explicit: you should fire him asap. Shell will next year probably go below 3 mln bopd if we extrapolate your performance. And you think so too with the remarks of freezing the dividend. Firing another 1000 is not going to help, you should fire Brinded. It is quality that counts, not quantity! read more

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Shell to shed 1,000 more jobs as profits fall 75%

Financial Times

By Carola Hoyos, Chief Energy Correspondent

Published: February 4 2010 08:36 | Last updated: February 4 2010 08:36

Royal Dutch Shell, the Anglo-Dutch energy group, on Thursday said it would cut significantly its refining and marketing business this year as it predicted the economy would not make a quick recovery. read more

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Essar Still In Talks With Shell To Buy Three Refineries

"Negotiations are going on with Shell," Shashi Ruia, chairman of the diversified Indian conglomerate, said Thursday on the sidelines of a conference, declining to indicate when the talks would be completed. Essar Group, which controls Essar Oil Ltd. (500134.BY), is in talks to acquire Shell's Stanlow refinery in the U.K. and the Anglo-Dutch company's Heide and Harburg plants in Germany.

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Shell fourth-quarter profit dives 75% – will axe another 1,000 jobs this year

AFP: LONDON — Energy giant Royal Dutch Shell said on Thursday that fourth-quarter adjusted net profit slumped 75 percent due to weak demand in the downturn, adding it would axe 1,000 jobs amid an uncertain outlook.

Earnings tumbled to $1.18 billion (851 million euros) in the three months to December, compared with $4.8 billion in the same period of 2008, Shell said in a results statement.

For 2009 as a whole, adjusted net profit plunged 69 percent to $9.8 billion.

The London-listed energy major said it will axe another 1,000 jobs this year after cutting 5,000 positions over 2009 as it sought to ramp up efficiency. read more

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Shell Targets More Job Cuts, Savings on ‘Challenging’ Outlook

BusinessWeek Logo

Bloomberg February 04, 2010, 03:40 AM EST

By Fred Pals

Feb. 4 (Bloomberg) — Royal Dutch Shell Plc, which vies with BP Plc as Europe’s biggest oil company, laid out plans for 1,000 extra job cuts and savings of $1 billion this year because of a “challenging” outlook for refining.

Earnings excluding one-time items and gains or losses from inventories fell 28 percent in the fourth quarter to $2.8 billion from the year-earlier period. They matched the $2.88 billion median estimate of 14 analysts surveyed by Bloomberg.

Chief Executive Officer Peter Voser, who has placed 15 percent of Shell’s refining capacity up for review, said he isn’t betting on a “quick” recovery and the outlook for 2010 is “uncertain.” Oil prices had their biggest annual gain since 1999 last year, keeping refining margins under pressure as the recession weighed on fuel demand. read more

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Shell profits collapse on weak refining, natgas

LONDON (Reuters) – Royal Dutch Shell Plc posted a 75 percent fall in fourth-quarter profits to $1.18 billion, as the oil major was punished for falling output and its strong position in the depressed refining and natural gas businesses.

Oil prices recovered in the quarter but gas prices were much lower than in the same period a year earlier, while refining margins collapsed to their lowest level in almost 15 years.

Europe’s second largest oil company by market value said it made a $1.76 billion loss in its refining unit and Chief Executive Peter Voser said he was mulling the sale or closure of 15 percent of Shell’s refining portfolio, even after saying it planned to close its Montreal facility last month. “These results confirmed the very negative trends affecting the downstream business,” Colin Smith, oil analyst at ICAP, said. read more

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Shell officials may face criminal charges

Manila Bulletin

February 3, 2010, 4:34pm

The Bureau of Customs (BoC) threatened to file criminal charges against officials of Pilipinas Shell Petroleum Corp. (PSPC) for their “no intent” to pay the P7.3-billion back excise taxes even as the temporary restraining order (TRO) issued by the Court of Tax Appeals will lapse on February 9.

Customs Commissioner Napoleon Morales said BoC plans to sue Pilipinas Shell’s officers because they have committed fraud for the oil firm’s importation of catalytic cracked gasoline (CCG) and Light CCG from 2004 to October, 2009. read more

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Why doesn’t Shell learn from Exxon?

FROM A SHELL INSIDER

Shell now growing in biofuels? A few years ago Shell was going to corner the solar cell business. That has been closed down. Then Shell was growing the hot air of the windmill business. They also withdrew from a huge UK project. Shell needed reserves so expanded in the tarsand business. The (negative) environmental impact is beyond belief. So that project is scaling down as well for some obscure reason. Of late oilshale is becoming popular again, Shell even recruited a corrupt US official for it so they must be serious. But I predict this will also soon fizzle out. And now strong growth in the biofuel. This will destroy Brazilian rainforests, pressure from environmentalists will be mounting and before too long this will also be scaled down. Billions of capital destruction and no consequences for the people at the top. They resemble exactly like modern day politicians, only good at surviving and reaping personal benefits while it lasts. read more

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The Royalty Boondoggle

A version of this article appeared in print on February 3, 2010, on page A26 of the New York edition.

In 1995, when oil prices were very low, Congress tried to encourage deep-water drilling in the Gulf of Mexico by giving oil companies relief from some of the royalties they incur for producing oil and gas on public land.

It has never been clear how much new exploration this provision inspired, since steadily rising prices provided plenty of incentive. What is clear is that it has been a good deal for the industry and a bad deal for taxpayers. According to the Government Accountability Office, the provision could allow industry to escape up to $54 billion in legitimate royalties, depending on the price of oil. read more

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Shell Motiva VP Tom Purves rewarding his loyal subjects

Greetings Folks,

Interesting developments regarding Thornal and Royer, Thanks for bringing them forward Golden Triangle Watchman, I had intended to but got rather busy of late.  Thornal was clearly an example of Purves rewarding his loyal subjects, Royer is a bit surprising.  You see folks Mr. Royer had intended or desired to work a few more years.  Of course, maybe the thought of being underling to the grossly incompetent and flagrantly arrogant Funk might have been to much for Leroy.  Or maybe Funk realized that Leroy was smarter than him and hence a threat.  Ordinarily I would feel sorry for Mr. Royer if it was not his desire to fade off in the sunset, however I don’t and I will tell you why.  Mr Royer is basically a pretty good guy with no guts, he didn’t have the stomach to stand up for his people in early 09 when 1.1 performers mysteriously from mid year review to end of year review became worthless pieces of crap.  As a leader you are duty bound to those below and above you, I dont fault Leroy for the way some people were treated in regards to their IPF, that was clearly above his head.  He did not however have to compromise his integrity and participate in slanderously fabricating untrue performance appraisals for these people.  I hope the shame I know you feel haunts you Leroy! read more

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Criminal investigation of allegations concerning Shell employee safety issues

Printed below is self-explanatory email correspondence relating to a Grampian Police investigation arising from allegations made by Mr. Bill Campbell, the former HSE Group Auditor of Shell International. His allegations relate to the Shell Brent Bravo Scandal and related issues, and a pending decision by the Scottish legal authority - the Procurator Fiscal - on whether to bring a prosecution.

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When is discrimination ethical? When it is practiced at Shell.

FROM A SHELL INSIDER (“SafetyPro”)…

Safety is #1! Goal zero!  Life Saving Rules!  I’m an executive and I talk out my ass!

When is discrimination ethical?  When it is practiced at Shell.

As a 22-year employee white male hetrosexual with a graduate degree in environmental science at Shell I hate to say it but I would not do it all over again.  How I wish I had taken the Exxon offer when I graduated.  However, if you are gay or minority and/or female (bonus points!) with no experience, no or very little education, (not required!) I would highly suggest that you apply immediately. You could be my boss. In fact, you are my boss. read more

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BP profits fall by 45%

guardian.co.uk home

• Oil company hit by cheaper energy prices and lower refining margins in 2009
• BP chief executive sees ‘slow and gradual’ economic recovery in US and Europe

Katie Allen
Tuesday 2 February 2010 08.10 GMT

BP’s Thunder Horse platform before it was towed to the US Gulf of Mexico. The platform came online this year Photograph: Michelle Christenson/AP

BP has reported a sharp drop in profits in 2009 as it grappled with cheaper energy prices and squeezed margins on refining.

The oil company said underlying profits in the fourth quarter rose 70% on a year earlier to $4.4bn (£2.75bn), but that missed the City’s forecasts. The year as a whole suffered a 45% fall in profits to $14bn. read more

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Niger Delta peace process ‘dead’ as militants target Shell facility

The Movement for the Emancipation of the Niger Delta (Mend) called off its ceasefire just hours before an attack on three fuel pumping stations operated by Royal Dutch Shell. The company confirmed on Monday it was forced to partially shut down production following the sabotage assault on the facilities, in the south-eastern Bayelsa state.

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Shell stakes green future on sugar biofuel in $2bn Brazil venture

Peter Voser, Shell's chief executive, has pledged to concentrate on developing biofuels and clean coal, as part of the company's attempt to reduce its carbon dioxide emissions.

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Shell Stops Some Nigerian Production Over Sabotage

IBADAN, Nigeria (Dow Jones)--Shell Petroleum Development Co., or SPDC, has closed some production following the sabotage on its Trans-Ramos Pipeline in its western operations in Nigeria, a spokesman said Monday.

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Shell bets on ethanol in $21 billion deal with Brazil’s Cosan

SAO PAULO (Reuters) - Royal Dutch Shell Plc plans to make the biggest-ever foray into biofuels by an oil major, striking a deal with Brazil's Cosan to create a $21 billion a year ethanol joint venture.

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Vandals Disrupt Shell Pipeline in Nigeria

LAGOS, Nigeria—Vandals over the weekend punctured an oil pipeline operated by Royal Dutch Shell PLC, say Nigerian military and security officials, highlighting how an illicit oil-theft industry in the creeks of the Niger Delta continues unchecked.

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Saudi Aramco, Shell sign contract with Japan’s JGC

KHOBAR, Saudi Arabia, Feb 1 (Reuters) - State-run oil firm Saudi Aramco and Royal Dutch Shell (RDSa.L) said on Monday they signed a contract with Japan's JGC Gulf International (1963.T) to build two units at their joint refinery, in a bid to improve the refinery's environmental performance.

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Cosan, Shell Plan Sugar, Ethanol Venture in Brazil

Feb. 1 (Bloomberg) -- Cosan SA Industria & Comercio, the world’s largest sugar-cane processor, and Royal Dutch Shell Plc said they plan to combine ethanol, sugar and distribution assets in Brazil.

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Gazprom raking it in at the expense of Shell

Below an extract from a Wall Street Journal article published today reporting on the profits of Gazprom and Sakhalin Energy, the company in which Shell was forced to surrender its majority stake. read more

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Shell reports Nigeria pipeline attack; oil rebounds after sinking 8.3% in January

Feb. 1, 2010, 10:49 a.m. EST: NEW YORK (MarketWatch) -- Crude futures rose on Monday after declining last week, as a round of upbeat global economic reports lifted demand expectations, while an oil pipeline in Nigeria was damaged by an attack and rekindled concerns over supply.

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Shell job cuts – Voser says more may have to go

httpv://www.youtube.com/watch?v=HGeHRE9zCuU

BLOOMBERG INTERVIEW: DAVOS 2010:

Voser Says Shell `More Pessimistic’ on First-Half Demand
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Shell CEO Peter Voser threatens more job cuts

In a television interview from Switzerland last week, he said Shell would be prepared to cut further jobs to keep costs under control until global demand for energy rebounds from its current slump.

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Shell asks for more time to resolve Corrib gas issues

The company was also required to submit a revised environmental impact statement by Friday.

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Voser’s Shell Overhaul May Signal Output Revival in BP Fight

BusinessWeek Logo

By Fred Pals

Feb. 1 (Bloomberg) — Peter Voser is using lessons from his two-year stint rescuing Swiss engineering company ABB Ltd. from near bankruptcy to turn around Royal Dutch Shell Plc by selling assets, cutting thousands of jobs and speeding up decisions.

Not only has Shell suffered six years of falling output, it’s been overtaken as Europe’s biggest energy producer in terms of market value by BP Plc for the first time since 2006.

Voser’s challenge at Shell is to take out layers of management while investing $28 billion this year to keep the company in the top league of oil majors. In recent years, Shell has struggled to maintain output levels because of lackluster exploration efforts and the company’s reluctance to do the major deals that helped rivals BP and Exxon Mobil Corp. bulk up. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Swiss warn UBS bank could collapse – Shell CEO Voser is a UBS director

By John Donovan

AFP reports that the Swiss justice minister warned in an interview on Sunday that the scandal hit Swiss bank UBS could collapse as a consequence of a U.S. tax fraud investigation.

This would be an embarrassment to Royal Dutch Shell Plc because its job cutting Swiss Chief Executive Officer, Peter Voser, is a non-executive director of UBS – a directorship he has held for several years.

Voser recently announced that he was stepping down as a UBS director in April of this year. His association with UBS, which has recently been in a financial meltdown, calls his judgment into question. read more

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