Capital spending will fall to $37 billion this year from $46 billion in 2013, Shell said, adding that for the time being it was also scrapping a controversial exploration programme in Alaska.
Shell to cut spending and step up disposals in 2014
Jan 30 (Reuters) – Anglo-Dutch oil company Royal Dutch Shell on Thursday said it would step-up disposals and cut spending as it seeks to win back investors with a new focus on returns, less than two weeks after a shock profit warning.
Shell, the world’s no. 3 investor
owned oil company, earlier this month issued a “significant” profit warning for the quarter to the end of December, detailing across-the-board problems just weeks into the tenure of new boss Ben van Beurden.
“Our overall strategy remains robust, but 2014 will be a year where we are changing emphasis, to improve our returns and cash flow performance,” van Beurden said in a statement.
Capital spending will fall to $37 billion this year from $46 billion in 2013, Shell said, adding that for the time being it was also scrapping a controversial exploration programme in Alaska.
The company said it would increase the pace of asset sales, targeting disposals of $15 billion this year.
“We are making hard choices in our world-wide portfolio to improve Shell’s capital efficiency”, van Beurden said.
To woo investors, it plans to raise its first quarter dividend by 4 percent compared with the same period last year to $0.47 per share, in a move which it said reflected its confidence in its ability to boost free cash flow.
Fourth quarter earnings excluding identified items and on a current cost of supply basis came in at $2.9 billion, in line with a downgraded profit expectation it gave on Jan. 17, and making the quarter its least profitable for five years.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
MORE DETAILS:
A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
