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Posts on ‘March 16th, 2011’

Beleaguered BP could make a tempting target for Royal Dutch Shell

Two years on from the biggest shareholder revolt on pay the London market has seen and things are getting back to normal at Royal Dutch Shell.

Shell had its moment back in 2004 with its reserves scandal but from 2005 embarked on a reconstruction involving a big increase in investment. Photo: GETTY IMAGES

Damian Reece By Damian Reece, Head of Business 6:10AM GMT 16 Mar 2011

Peter Voser, the chief executive, earned £4.8m in 2010, four times as much as his rival Bob Dudley at BP.

But then the companies’ fortunes could not have been more different over the past couple of years. BP workers were killed yet again after a fatal safety lapse and the company’s Macondo well created a fissure in the earth’s surface that spewed pollution into the Gulf of Mexico.

BP’s shares have underperformed the All Share by 60pc as a result while Shell has lagged by 22pc, although it has outperformed its oil peers by 9pc. BP has underperformed the same group by 30pc. Shell’s total market capitalisation across its two classes of share is £132bn and BP £86bn – a gap I doubt Dudley will close in his time as chief executive and it will be beyond his successor too. 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.

Water board torture for Shell Oil Co

The Associated Press March 15, 2011, 10:10PM ET

Water board orders Shell to clean up neighborhood

LOS ANGELES

A California water board has ordered Shell Oil Co. to clean up a Carson neighborhood built on top of an oil storage facility that could hold up to 140 million gallons of crude oil.

The Los Angeles Regional Water Quality Control Board required the company to come up with plans to clean up the site that the board will review. The soil contains dangerous levels of cancer-causing benzene, naphthalene and benzopyrene.

“The order requires Shell to clean the site to the most stringent standards for residential use in order to protect public health,” Samuel Unger, the board’s executive officer, said of the move Friday. 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.

Joint Statement by Shell Stanlow refinery parties

Joint Statement from Shell, Essar and the Employee Representatives from the consultation meeting held 14th March 2011

Shell and Essar management have today formally met for the second time to consult with the employee representatives for Stanlow refinery and the associated marketing businesses.

This has included sessions with both non-unionised and unionised representatives on general terms and conditions (as outlined at the first meeting) plus a joint session on pensions.

In response to concerns raised on pensions, Essar recognised the value that Stanlow employees attach to the pension provision and have revised their defined benefit pension proposals.  These now provide for the replication of the Shell pension benefits in the Essar pension plan, so that existing staff will retain their current pension benefits. 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 ready to ship extra gas to Japan in wake of tsunami

*SHELL DEALING WITH THE DEVIL AGAIN:

Voser insisted the North African dictatorship was ‘still under development and is evolving into democratic structures over time’. And despite saying Libya was ‘rather small for Shell’, he refused to profess any discomfort at the firm’s cosy relationship with Gaddafi, based on a £ 375m exploration deal signed in 2005 with the blessing of former Prime Minister Tony Blair

Fuelling a growth support

By Rob Davies
Last updated at 3:35 AM on 16th March 2011

Shell boss Peter Voser said the oil supermajor stood ready to ship extra gas to tsunami-hit Japan but has refused to distance the company from the regime of Libyan tyrant Colonel Gaddafi.

Speaking as he showed off an ambitious $100bn ( £ 62.2bn) growth plan, the Swiss chief executive said Shell had diverted boatloads of liquefied natural gas (LNG) to Japan, to address the power shortfall caused by its nuclear crisis.

But he offered no firm stance on Libya, saying Shell would ‘see things unfolding … and then we’ll take a decision’ on how to proceed.

Voser insisted the North African dictatorship was ‘still under development and is evolving into democratic structures over time’. 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 Voser given pay rise of 62 per cent

The Independent

??By Sarah Arnott

Wednesday, 16 March 2011

Peter Voser, the chief executive of Shell, saw his earnings rocket by 62 per cent to $7.3m (£4.5m) last year.

The increase reflected his first full year in the top job, but the majority of it came from bonus payments after the oil giant beat its targets for cash flow, project delivery and gas production and safety, Shell’s annual report said.

SOURCE ARTICLE

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 shock at pay deals

guardian.co.uk home

Peter Voser, Shell’s chief executive, was last year awarded a bonus of €3.75m – exactly the same amount that so infuriated investors in 2009

Julia Finch: Tuesday 15 March 2011 20.54 GMT

Shell chief executive Peter Voser’s pay for 2010 totalled €5.4m. Photograph: Guido Benschop/AFP/Getty Images

Less than two years ago, nearly 60% of Shell shareholders voted down the oil group’s plans to award millions of pounds of shares to executives, even though performance targets had been missed that should have reduced the payouts to zero. The chairman of the group’s remuneration committee was forced to step down and, as it tried to rebuild bridges with angry shareholders, the company froze salaries last year. 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.

Cleanup ordered at Carson neighborhood Shell Oil polluted

1:08 p.m. | Molly Peterson | KPCC

State water regulators have ordered Shell Oil to clean up and monitor pollution in soil under the Carousel neighborhood of Carson.

Testing found benzene and hydrocarbons – chemicals known to cause cancer – four years ago.

The neighborhood sits where Shell maintained crude oil in reservoirs for decades.

The Los Angeles Regional Water Quality Control Board says Shell must make a plan to clean soil under some of the nearly 300 homes to a depth of 10 feet. 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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