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Posts on ‘April 15th, 2010’

Royal Dutch Shell CEO leaves UBS AG board

“Voser departs as UBS faces criticism over the bank’s increased bonuses and a proposal to absolve former executives of responsibility for a U.S. tax evasion fiasco and billions of dollars in losses.”

15 April 2010

LONDON — Royal Dutch Shell PLC said Thursday that its chief executive has left the board of UBS AG.

CEO Peter Voser stepped down as a UBS director on Wednesday. In September, the oil company said Voser would leave the Swiss bank’s board to concentrate on his CEO job.

Voser departs as UBS faces criticism over the bank’s increased bonuses and a proposal to absolve former executives of responsibility for a U.S. tax evasion fiasco and billions of dollars in losses. UBS has been trying to regain investor and client confidence and has issued repeated apologies. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

LINDA’S LOLLY: $30 MILLION PLUS PAYOFF FROM SHELL

She was universally hated and in the end Shell thankfully ducked appointing her as CEO and she cleared off in a hissy fit! Laughing all the way to the bank no doubt.


Graphic From Daily Mail Article: Shell braced for yet another revolt over directors’ pay

Wilt Staph Posting on Apr 15th, 2010 at 10:16 am

Shell insiders will be shocked but not surprised by the revelations about Linda cook’s departure. There are two main factors at play in this sorry saga – Americanisation and diversity. Senior American executives in Shell have historically had bonus and pay structures which far exceed those of their mainly European colleagues. The uneasy relationship between Shell’s US subsidiary, Shell Oil, and the rest of RDS over the years led to a number of high-flying Americans moving into the Shell international arena to try and address this problem. In virtually every instance these moves have been unmitigated disasters. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Essar flotation warning may rattle Shell Stanlow Refinery workers

Essar Energy’s own advisers have warned investors about “a complex structure and a lack of clarity on the flow of funds between the UK unit and its Indian subsidiaries” – ahead of the company’s flotation.

DAILY TELEGRAPH

Advisers warn of risks in Essar Energy flotation

Essar Energy’s own advisers have warned investors about “a complex structure and a lack of clarity on the flow of funds between the UK unit and its Indian subsidiaries” – ahead of the company’s flotation.

By Garry White and Richard Fletcher
Published: 6:00AM BST 15 Apr 2010

The oil and power company unveiled plans for a $2.5bn (£1.6bn) London flotation last week. The deal will be the City’s largest public offering in four years.

In pre-marketing research, seen by The Daily Telegraph, JP Morgan Cazenove raises a number of concerns about corporate governance.

The investment bank – which is joint book runner alongside Deutsche Bank – also warns of a history of high-profile delays and cost over-runs at the group’s Vadinar refinery in Gujarat. A timely and on budget execution of the next phase was very important to “banish concerns about project execution capabilities and fully restore reputation“, wrote the analysts. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Ottawa not preventing oilsands water pollution: Complaint

OTTAWA — The Harper government is facing a complaint under the North American Free Trade Agreement about whether it is adequately cracking down on water pollution from oilsands operations.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Iraq favours Shell, Total, KOGAS for gas fields

REUTERS

BAGHDAD, April 14 (Reuters) – Iraq will invite 15 companies before the end of the year to bid to develop three gas fields and Royal Dutch Shell (RDSa.L), Total (TOTF.PA) and South Korea’s KOGAS (036460.KS) are favoured, an Iraqi oil official said on Wednesday.

“We are keen to select international companies with experience with gas and which have gas projects across the world,” said Sabah Abdul Kadhim, head of the Oil Ministry’s petroleum contracts and licensing directorate. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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