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Posts on ‘February 2nd, 2012’

Shell sees large global oil refining surplus

Thu Feb 2, 2012 9:13am EST

* Shell says global refining surplus of 6 million barrels

* Predicts more refinery closures in Europe

* Shell made Q4 loss from oil refining and marketing

By Alex Lawler

LONDON, Feb 2 (Reuters) – Royal Dutch Shell said on Thursday the global oil refining industry is facing about 6 million barrels per day (bpd) of surplus capacity, and predicted more plants would close in Europe.

Refining crude oil into fuels such as gasoline and diesel, traditionally the second-largest business for global oil firms such as Shell and rivals like BP Plc, has come under pressure from weak profit margins. 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 accused of ‘moral bankruptcy’

Shell has been accused of “moral bankruptcy” by unions after unveiling a 54% rise in full-year profits less than a month after shutting its final salary pension scheme to new employees in Britain.

The oil company reported global annual earnings of $28.6bn (£18bn) – more than £2m an hour – while paying out $10.5bn to shareholders during 2011 and promising to raise dividend levels further in the coming months.

Peter Voser, Shell’s chief executive, said “there is more [good profit] to come” as he outlined a new programme of increased global investment as well as cuts that he said would provide even better returns for investors. 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.

Is Shell CEO Voser jinxed by the famous Brinded spell?

POSTING ON SHELL BLOG 2 FEBRUARY 2012 BY ” AN OBSERVER OF SHELL”

Is Voser now also being jinxed by the famous Brinded spell?

This decent and down to earth Swiss financeman is trying to tell the world that Shell will increase production from North Sea fields by extending the life of these fields (Sky Sunrise interview).

I am taking bets with some friends this will not happen. All observable actions by Shell is that they are retrenching from the North Sea. Voser emphasised that there will be a lot of job creation in the UK….. Now, where have we heard this before????

And he says (Bloomberg story):
‘Shell will increase production to about 4 million barrels of oil equivalent a day in 2017-2018. Last March, it said daily output would rise to 3.5 million barrels this year and 3.7 million barrels by 2014?.
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.

Abrupt end to live Peter Voser Interview on Sky News

Sky Sunrise Interview Thursday 2 February 2012

Eamonn Holmes interviewing Royal Dutch Shell CEO Peter Voser

Eamonn Holmes

Breaking news coming in from the City… Shell the petroleum giant reporting profits of more than £18 billion pounds.. 54 per cent up on last year…

Lets go to their Chief Executive Peter Voser, he’s there in Central London, Congratulations very good news for you but most people Mr Voser will be saying will we see any of these benefits on the forecourt?

Peter Voser

Yes, thank you very much, yes I think Shell had a good year and we are pleased with our progress on the many  projects in which we are investing… 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 eyes big growth, but at big cost

Thu Feb 2, 2012 3:45am EST

* Fourth quarter results disappoint

* Anaemic dividend rise

* Higher investments seen but returns weaken

* Shares drop

By Tom Bergin

LONDON, Feb 2 (Reuters) – Royal Dutch Shell said it was targeting aggressive growth in the coming years, with the start-up of big new projects and higher investments set to drive a 50 percent rise in cashflow and a 25 percent rise in oil and gas production.

However, weaker-than-expected results for the fourth quarter, partly due to dismal industry-wide refining margins, and an anaemic dividend hike, raised the question of whether Shell was simply running faster to stand still, with investments offering ever-dwindling returns. 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 Earnings Decline on Lower Gas Prices


By Eduard Gismatullin – Feb 2, 2012 8:02 AM GMT

Royal Dutch Shell Plc (RDSA), Europe’s biggest oil company, expects to raise its dividend this year for the first time since 2009 as new projects generate more cash.

Shell plans net capital investment of $30 billion, with cashflow from operations in 2012-2015 expected to be as much as 50 percent higher than in the 2008 to 2011 period.

Chief Executive Officer Peter Voser said growth will be driven by more than 60 new projects, unlocking potential resources of more than 20 billion barrels of oil equivalent. That’s on top of 14 projects started in 2009-11, including Qatar’s Pearl gas-to-liquids venture. 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 quarterly adjusted earnings up 18%

Feb. 2, 2012, 2:39 a.m. EST

By Alexis Flynn

LONDON (MarketWatch) — Royal Dutch Shell PLC Thursday posted an 18% rise in adjusted profit for the fourth quarter, but Europe’s largest company by market capitalization still missed analyst expectations, as poor refining margins and lower natural gas demand crimped some of the benefits of higher crude prices.

“Our fourth quarter results were impacted by a sharp downturn in industry refining margins and North American natural gas prices,” said Chief Executive Peter Voser, adding that “the global economy and energy markets are likely to see continued high volatility.” 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.

3 states offer big tax breaks for Shell Oil plant

Published February 01, 2012| Associated Press

PITTSBURGH –  Pennsylvania, Ohio and West Virginia are trying to top each other with the sweetest package of tax breaks for Shell Oil Co., which plans to build a huge new petrochemical refinery in the region.

But some are questioning why there’s been so little public discussion over exactly what’s being offered, and how the deals would impact communities and the region.

“Who’s going to be paying for the roads?” asked Robert P. Strauss, a professor of economics and public policy at Carnegie Mellon University. “You have to think through very carefully what the additional costs will be.” 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.

Rivers without water

“No Shell person or NNPC has come here in respect of the report. But as I talk to you, they are drilling. The same Nigerian Army and police that are supposed to protect the Nigerian people will carry them to go and put more benzene (into the environment). If we take laws into our hands, you hear (restiveness) and violence.” The accusations have been put before Shell in an email for weeks, but the company did not respond.

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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