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Posts on ‘January 26th, 2014’

Shell profit warning merely a warm-up for what is coming

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Shell is fat, slow, and unresponsive to shareholders.

THE SUNDAY TIMES BUSINESS SECTION 26 JANUARY 2014

INSIDE THE CITY: BY DANNY FORTSON

Royal Dutch Shell

BEN VAN BEURDEN, the new boss of Royal Dutch Shell, issued a profit warning nine days ago.

It was, I expect, merely a warm-up for Thursday, when he will announce his first set of annual results.

Industry sources say Van Beurden has identified billions of dollars of assets to write off – thing like its French Guiana operation where it has drilled a series of dry holes. 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.

Natural Gas and Nagging Earthquake Fears

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By Sara Murphy

More evidence emerges from The Netherlands that natural gas extraction is contributing to increases in tremors around an Exxon Mobil/Shell joint venture.

The Dutch government is cutting production from Western Europe’s biggest gas field, operated by an ExxonMobil (NYSE: XOM) / Royal Dutch Shell (NYSE: RDS-A) joint venture, by a quarter over the next three years.

This is one of those areas where a single big event could turn the public completely against fracking, and maybe even natural gas in general. 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.

Shareholder Shell distances itself from Oman bribes case

AFTER the rumpus over the exit of Royal Dutch Shell’s legal director on Wednesday, the oil giant’s media team was no doubt hoping for a quiet end to the week. Sadly, it wasn’t to be. Yesterday, Diary picked up reports in the Arab press about corruption at Shell’s Omani joint venture, Petroleum Development Oman (PDO).

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City Diary Edited by Harriet Dennys: Friday 24 January 2014. Page B4.

AFTER the rumpus over the exit of Royal Dutch Shell’s legal director on Wednesday, the oil giant’s media team was no doubt hoping for a quiet end to the week.

Sadly, it wasn’t to be. Yesterday, Diary picked up reports in the Arab press about corruption at Shell’s Omani joint venture, Petroleum Development Oman (PDO).

According to Reuters, the head of the tender committee at PDO, Juma AI Hinai, was this month sentenced to three years in jail and fined 600,000 rials (£938,000), after being found guilty of accepting a bribe from a local contractor. 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.

Santa Claus Could Be Sitting on Billions of Barrels of Oil

For several years now, Shell had hoped that the Alaskan Arctic would their ticket to growth that shareholders would appreciate. Unfortunately, it hasn’t been able to get its act together, and over $4 billion has been spent on wasted efforts. 

For peers like ExxonMobil  and Statoil , the Arctic Circle is the future, but they are both reaching outside of the United States. Hopefully, for their sake, the Kara and Barents Sea will be more friendly that the Chukchi has been to Shell. 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.

Energy giants battle to pump profits

Screen Shot 2013-11-13 at 07.38.22At 55, Van Beurden, who replaced Peter Voser earlier this month, is a 30-year veteran at Shell where his career has mainly been focused on managing downstream businesses such as refining and chemicals. This week, as he announces full-year earnings, City analysts expect him to unveil details of a potential $15bn to $30bn (£9.1bn to £18.1bn) garage sale… Shell has a reputation for gluttony when it comes to tackling giant energy projects, betting billions of dollars on strategic investments aimed at building reserves and capturing future demand decades in advance. Those days may be over.

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By 8:00PM GMT 25 Jan 2014

On the face of it, Royal Dutch Shell’s new chief executive, Ben van Beurden, and Bob Dudley, his counterpart at , are a world apart.

At 55, Van Beurden, who replaced Peter Voser earlier this month, is a 30-year veteran at Shell where his career has mainly been focused on managing downstream businesses such as refining and chemicals.

This week, as he announces full-year earnings, City analysts expect him to unveil details of a potential $15bn to $30bn (£9.1bn to £18.1bn) garage sale, signalling a new era of capital discipline and streamlining at the Anglo-Dutch supermajor. 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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