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Posts on ‘January 17th, 2014’

Shell’s profit warning linked to cost of drilling in Arctic waters

The costs of a trouble-prone drilling programme in Arctic waters off Alaska have contributed to Shell being forced to issue a shock profit warning which has shaken investor confidence. Shares in the Anglo-Dutch oil group slumped in early trading after its newly-installed chief executive admitted that fourth quarter earnings would be around 70% lower than the same period last year. …van Beurden is expected to announce a string of divestment targets at the end of this month.

Sources say financial writedowns come from costs associated with the Alaskan drilling operation

The costs of a trouble-prone drilling programme in Arctic waters off Alaska have contributed to Shell being forced to issue a shock profit warning which has shaken investor confidence.

Shares in the Anglo-Dutch oil group slumped in early trading after its newly-installed chief executive admitted that fourth quarter earnings would be around 70% lower than the same period last year.

“Our 2013 performance was not what I expected from Shell,” Ben van Beurden said. “Our focus will be on improving Shell’s financial results, achieving better capital efficiency and on continuing to strengthen our operational performance and project delivery.” 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.

Sudden exit of Shell executive director linked to profit warning?

Speculation from a usually well-informed source

Can’t help but wonder whether *Rees’ departure just days ago was because he refused to sign off on the accounts?

Bad as they were, it’s possible that the accounts would have been far worse if they had reflected the true state of affairs.

* Sudden departure of Shell global legal boss Peter Rees QC

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.

What The Hell, Shell? Oil Giant Warns On Disastrous Quarter

Screen Shot 2013-10-01 at 07.56.54Royal Dutch Shell released a dreadful profit warning today. …a few more quarters like this one and the pressure will mount on CEO van Beurden to start slashing that capex and put Shell into a managed shrink-down like CEO Robert Dudley has been forced to do at BP. Earlier this week The Financial Times reported that Shell plans to divest some $15 billion worth of assets over the next two years. The magnitude of Shell’s shortcoming caught even the sharpest pencils off guard. “We’re a bit shell-shocked this morning after this profit warning… And we all remember its 2012 arctic drilling fiasco in Alaska. All told, mighty Shell is losing money on its oil and gas fields in the United States.

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Christopher Helman, Forbes Staff: 1/17/2014 @ 9:46AM

Royal Dutch Shell released a dreadful profit warning today. Fourth quarter earnings are expected to come in at $2.2 billion, down from $7.3 billion a year ago. Full year earnings will be down almost 40% to $16.8 billion. Upstream earnings were off 45% year-over-year, while downstream refining earnings plunged 58%. Topping it off, in the past year Shell’s oil and gas volumes have slumped roughly 13% to 2.9 million barrels of oil (and natural gas equivalents) per day. 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 fined HUF 25 million for false advertising

Screen Shot 2013-10-01 at 07.56.54Yesterday the body announced a HUF 25 million penalty on Shell Hungary on charges of misleading consumers. Advertisements for “Shell FuelSave” gasoline promised a reduction in fuel consumption, but GVH found that this was not the case for the overwhelming majority of consumers.

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David Landry: Friday, January 17, 2014, 8:30 AM CET

Fines assessed by the National Competition Authority (GVH) just keep on coming: Yesterday the body announced a HUF 25 million penalty on Shell Hungary on charges of misleading consumers. Advertisements for “Shell FuelSave” gasoline promised a reduction in fuel consumption, but GVH found that this was not the case for the overwhelming majority of consumers.

In a terse statement, Shell Hungary representatives said they were “very disappointed” with the decision; no word on whether an appeal is forthcoming. 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 Warning Represents Rare Reputational Blow

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Screen Shot 2013-10-01 at 07.56.54It’s been 10 years since Royal Dutch Shell PLC issued a profits warning. Back then, it disclosed massive accounting discrepancies in its reserves. Today’s fourth quarter profit warning doesn’t carry any whiff of scandal, but represents a big and rare reputational blow to one of Europe’s most dependably-performing companies.

Still, the damage isn’t as bad as the last time the company issued a profit warning on Jan 9, 2004. On that day the company’s share price fell 7.4% following the disclosure of discrepancies in its oil reserves calculation that would lead to a major management and company restructuring and unfold into one of its biggest crisis in its century-plus of pumping oil. 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 is not so much on fire as jumping off a burning platform

By Emma Haslett Friday, 17 January 2014

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Screen Shot 2013-10-01 at 07.56.54Shell issues shock profit warning

Shell is not so much on fire as jumping off a burning platform, after it admitted full-year profits are likely to be half what it expected.

Blimey: new Shell chief exec Ben van Beurden has barely had enough time to put the pictures up in his new office – but now he’s found himself hauled into the spotlight this morning, issuing a shock profit warning. Van Beurden seemed more surprised at what he was saying than anyone else. 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.

New Shell boss spooks market with warning

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By Kate Holton: LONDON Fri Jan 17, 2014 7:26am EST

Screen Shot 2013-10-01 at 07.56.54Shell warns of ‘significant’ profit miss

(Reuters) – Royal Dutch Shell (RDSa.L) issued a “significant” profit warning on Friday, detailing across-the-board problems and the extent of the challenges facing the oil major’s new boss Ben van Beurden, who took over two weeks ago.

The warning comes nearly *10 years to the day after Shell, the western world’s No. 3 oil company, revealed the so-called reserves accounting scandal, when the group dramatically downgraded its reserves estimates. 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 Profit Slumps

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Friday January 17, 2014

Royal Dutch Shell Plc (RDSA) said profit plunged because of deteriorating refining markets and mounting losses in the Americas, surprising investors with an early earnings report that wiped out $10 billion in shareholder value.

“It’s a shock,” Jason Kenney, an analyst at Banco Santander SA in Edinburgh, said today by telephone. Shell had “to pre-announce to get the market to reality, but even so it’s a very weak set of results.” 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 issues shock profit warning

Friday 17 January 2014

Screen Shot 2013-10-01 at 07.56.54Shell dropped a bombshell on investors after warning that fourth quarter profit will be “significantly” lower than last year, blaming low production, high exploration costs and continuing problems with refining.

“It’s not good. When you’re talking about higher costs and lower production volumes, it’s a lethal combination,” said Nick Xanders, who heads European equity strategy at BTIG, the trading and brokerage firm.

FULL 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.

Royal Dutch Shell Profits Slump Debacle

Screen Shot 2013-10-01 at 07.56.54Based on our insider information, we, and only we, raised the question of whether Royal Dutch Shell CEO Peter Voser jumped ship or was pushed. I think we now have the answer that explains his unexpected early retirement under the cloak of a change of lifestyle. How do you know that Shell is run by clowns? The continued existence of this website over the last decade proves that this is the case. One miscalculation after the other. Just over 2 months ago, we raised the profits warning issue:Why no profits warning from Shell?

By John Donovan

Just over 2 months ago, we raised the profits warning issue: “Why no profits warning from Shell?

I would now like to put a simple question to our visitors.

What news source has provided the most accurate assessment about Royal Dutch Shell Plc and the senior management?

Not the BBC, The Wall Street Journal, the Financial Times, The Guardian, The Telegraph, The Motley Fool or any other source. Certainly not shell.com.

The most accurate assessment and information has consistently emanated from this website. 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 issues profit warning

Screen Shot 2013-10-01 at 07.56.54Oil giant Royal Dutch Shell has issued a profit warning after it made less money than expected in the final quarter of 2013. “Fourth-quarter 2013 figures… are expected to be significantly lower than recent levels of profitability,”; Shell’s shares fell more than 4% at the beginning of trading in London.

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Oil giant Royal Dutch Shell has issued a profit warning after it made less money than expected in the final quarter of 2013.

“Fourth-quarter 2013 figures… are expected to be significantly lower than recent levels of profitability,” the company said in a statement.

It now expects profits for the quarter to be about $2.2bn (£1.3bn) and profits for 2013 as a whole to be $16.8bn.

Shell’s shares fell more than 4% at the beginning of trading in London. 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 PROFITS WARNING DEBACLE

Screen Shot 2013-10-01 at 07.56.54Message from one of our sources…

John

How many warnings did we give about taking the financial hits in the final quarter before Voser left?

And yet the analysts are surprised!

(AND THIS MARKET SHOCKING NEWS ALMOST EXACTLY TO THE DAY, ON THE TENTH ANNIVERSARY OF WHEN NEWS FIRST BROKE OF THE ROYAL DUTCH SHELL RESERVES SCANDAL)

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 shares open down 3.3 percent after profit warning

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Screen Shot 2013-10-01 at 07.56.54Jan 17 (Reuters) – Royal Dutch Shell PLC :

* Shares open down 3.3 percent after profit warning

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 warns of plunge in profits

Screen Shot 2013-10-01 at 07.56.54Jan 17 2014

Shell (RDS.A) has warned that it expects its Q4 profit to be “significantly lower than recent levels of profitability,” with the company estimating that adjusted earnings on a current cost of supplies basis will plummet to $2.9B from $7.3B a year earlier. Consensus is for $4B.

Shell cited oil and gas prices, “weak industry conditions in downstream oil products, higher exploration expenses, and lower upstream volumes” as reasons for the drop in earnings.
   
Shell is due to publish its full results on January 30. (PR) 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.

Oil giant Shell in surprise profit warning

Screen Shot 2013-10-01 at 07.56.54Shell has seen 3.9% wiped off its share price since markets opened a few minutes ago.

Shell Q4 2013 profits £2.9bn against £4bn expectations

‘Not what I expect from Shell’ – chief executive Ben van Beurden

Jennifer Rankin:  theguardian.com, Friday 17 January 2014 08.19 GMT

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To start the day, we have a surprise profits warning from the world’s second largest oil company, Royal Dutch Shell. The company has said that its fourth quarter 2013 results are likely to be “significantly lower” than recent levels of profitability.

Earnings for the fourth quarter of 2013 are expected to be $2.9 billion (£1.8bn), compared to analysts’ expectations of $4bn.

Shell is blaming “weak industry conditions in downstream oil products, higher exploration expenses and lower upstream volumes”. 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.

When expats return home, what’s next?

Shell keeps its expats connected with “global skill pool managers” to help them find their next job. For instance, the skill pool manager for drilling engineers would provide information about the supply and demand outlook for such jobs.

BBC Worldwide

by Ronald Alsop: 16 January 2014

Returning expats face unforeseen challenges, such as frustration. (Thinkstock)

While on assignment in his employer’s Barcelona office, Sameer Shamsuddin immersed himself in the new culture. The international chief technology officer enjoyed working with culturally diverse colleagues and clients and learning how to communicate and negotiate with them.

When the time came to return to the technology company’s home office in a suburb of Philadelphia, Shamsuddin realised that his “horizons had expanded.” He wasn’t happy back in the more corporate environment. 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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