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Posts on ‘October 28th, 2010’

Shell OK with dealing in Iranian crude

Published: Oct. 28, 2010

LONDON, Oct. 28 (UPI) — Royal Dutch Shell is still dealing with Iranian crude oil shipments under current contracts, the company’s chief financial officer said Thursday.

Simon Henry, Shell’s top financial official, said his company was still taking delivery of Iranian crude oil under the terms of its existing contracts with the Islamic republic.

The European Union and United States passed new sanctions in July that target Iran’s energy sector, though Henry said the sanctions didn’t deal with trading in Iranian crude. 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.

Royal Dutch Shell confirms that it is continuing to trade with Iran

Shell studies oil trade impact of EU Iran sanctions

By Alex Lawler

LONDON | Thu Oct 28, 2010 7:47am EDT

(Reuters) – Royal Dutch Shell Plc (RDSa.L) said it would assess any impact of European sanctions on its oil trade with Iran and had stopped some activities there following tougher U.S. measures earlier this year.

The European Union sanctions over Iran’s nuclear work, launched in July and which became law this week, seek to block oil and gas investment in the Islamic Republic, the world’s fifth largest oil exporter.

“Our trading business with Iran is carried out under longer-term contracts,” Shell’s chief financial officer, Simon Henry, said on Thursday. “We continue to lift (buy Iranian crude) under those contracts, but we do need to assess any implications of the European legislation.” 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.

Shell Says Repercussions of U.S. Drilling Moratorium Could Last Into 2012

Bloomberg

By Fred Pals and Eduard Gismatullin – Oct 28, 2010 11:53 AM GMT+0100

Royal Dutch Shell Plc, Europe’s largest oil company, warned that the knock-on effects of the temporary ban on new deep-water drilling in the Gulf of Mexico could last for the next two years.

Shell has booked charges of $115 million to date after idling rigs and expects further losses in the fourth quarter, Chief Financial Officer Simon Henry said today. Daily output from the region, which accounts for about a third of Shell’s total production in the Americas, will be 40,000 barrels less than previously expected in 2011. 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.

Royal Dutch Shell To Sell Majority Of Refining, Marketing Businesses

httpv://www.youtube.com/watch?v=b4XtK6zTpNc&feature=youtube_gdata

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.

Shell Reports Increase in Profit as Oil Prices Climb

Bloomberg

By Fred Pals – Oct 28, 2010 7:12 AM GMT+0100

Royal Dutch Shell Plc, Europe’s largest oil company, posted a 7 percent increase in third- quarter profit as a recovery in energy demand lifted oil prices.

Net income rose to $3.46 billion from $3.25 billion a year earlier, The Hague-based Shell said in a statement today. Excluding one-time items and inventory changes, profit beat analyst estimates.

Shell is targeting hard-to-reach rock formations in Australia, the U.S. and China, as well as projects in Qatar, to reverse a seven-year drop in output. Chief Executive Officer Peter Voser plans to invest $40 billion in the Americas through 2014, at the same time close rival BP Plc’s U.S. ambitions have suffered as a result of the Gulf of Mexico oil spill. 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.

Shell’s Net Profit Climbs 6.5%

OCTOBER 28, 2010

By JAMES HERRON

LONDON—Royal Dutch Shell PLC on Thursday posted a 6.5% rise in third-quarter net profit, helped by higher oil and gas prices, higher output and greater cost efficiency.

The Anglo-Dutch energy giant said net profit rose totaled $3.46 billion from $3.25 billion a year earlier. The bottom line was affected by a one-time $1.13 billion charge the company took on fair value adjustments to commodity derivatives. Group revenues were $90.71 billion, compared with $75.01 billion in the third quarter of 2009. 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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