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January, 2014:

Shell Arctic Drilling Plans Blocked By Courts

Screen Shot 2013-11-01 at 09.31.18“This is a massive blow to Shell’s Arctic ambitions,” said John Sauven, executive director of Greenpeace UK told the Guardian. “Shell had already lost the case for Arctic drilling in the court of public opinion – today they have lost the case in a court of law as well.”

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by Richard SmallteacherCorpWatch Blog: January 23rd, 2014

Shell’s plans to drill for oil in the Arctic’s Chukchi Sea have been handed a major setback by a U.S appeals court which ruled that the Department of the Interior had underestimated the potential environment impact. The courts ordered the federal government to do a new assessment.

Judge William Fletcher of the 9th Circuit Court in San Francisco ruled that the Bureau of Ocean Energy Management (BOEM) estimate that Shell would only extract one billion barrels was far too low. In the court opinion that Fletcher authored, he said that the numbers were “arbitrary and capricious” and ordered the agency to re-do the environmental analysis based “on the full range of likely production if oil production were to occur.” read more

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.

Iran courts western oil majors at Davos

FINANCIAL TIMES

In a closed-door meeting on Thursday, including BP, Eni, Royal Dutch Shell and Total, on the sidelines of the World Economic Forum in Davos, Mr Rouhani and his oil minister Bijan Namdar Zanganeh told executives to submit contracts they would like to see Iran adopt.

FULL FT ARTICLE

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.

Non-Payment By Shell After Oil Spill Triggers Protests

Screen Shot 2014-01-24 at 15.12.49A number of Ogoni people picketed First Bank in Port Harcourt, Nigeria, on Wednesday (22 January 2014). Their protests aimed at the execution of a judgment of a Federal High Court, which ordered Shell to pay N80. 3 billion to the Ogoni community, in compensation for an oil spill in the area. The protesters required the bank, which is Shell’s guarantor, to fulfil its obligations.Screen Shot 2014-01-24 at 15.09.28

Banking activities at First Bank Area office in Port Harcourt, Rivers State, was disrupted on Wednesday [22 January 2014] as protesting members of Ogoni ethnic group in the state picketed the bank.

The over 1000 protesters picketed the bank to push for the payment of N80.3 billion to Ogoni community by Shell Petroleum Development Company (SPDC) in connection with an oil spill.

A Federal High Court in Port Harcourt had ordered SPDC to pay N80. 3 billion to Ogoni community for the oil spill in the area. read more

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.

Ex-Shell Oil president: ‘I felt extorted’

Screen Shot 2013-10-01 at 07.56.54The former president of Shell Oil USA didn’t candy-coat it: America’s political fund-raising system, he said, amounts to legalized extortion. “I feel extorted,” John Hofmeister told CNN’s Drew Griffin. “Every time I wrote a check I felt that it was a form of extortion, the price of entry, because of the reception that you got when you contributed versus the reception when you did not contribute.” Hofmeister, who ran Shell Oil USA from 2005 through 2008, said he was constantly being asked for political donations, by members of both parties.

Screen Shot 2014-01-23 at 17.36.31 David Fitzpatrick and Drew Griffin, CNN Investigations: January 23, 2014 — Updated 1324 GMT (2124 HKT)

(CNN) — The former president of Shell Oil USA didn’t candy-coat it: America’s political fund-raising system, he said, amounts to legalized extortion.

“I feel extorted,” John Hofmeister told CNN’s Drew Griffin. “Every time I wrote a check I felt that it was a form of extortion, the price of entry, because of the reception that you got when you contributed versus the reception when you did not contribute.”

Hofmeister, who ran Shell Oil USA from 2005 through 2008, said he was constantly being asked for political donations, by members of both parties. It’s against Shell Oil policy, he said, for corporate contributions to be made. So any donations came out of his own pocket — something, he said, he felt forced to do. read more

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: Reminiscences of an old EP hand

Screen Shot 2013-10-01 at 07.56.54Then came the roaring 90s. Everything had to be done faster, shareholder value, bonuses, do like ENRON etc etc. This led to an influx of fast talking americans with me first, rest later attitude and the contractor will fix it. Scandals like the Tejas Gas disaster (carefully kept away from the press) and other bad things emerged (just check out the Donovan website). And the fast talking americans then swarmed out over Shell International and changed the culture. Me first, screw the rest. The rest is history…..

Comment “From an old EP hand” posted on Jan 23rd, 2014 at 11:33 

@relieved
Until the early 90s Shell Oil had many great designers and other top professionals. They were second to none when it came to HPHT welldesigns (and offshore development, geophysics etc). Also very pragmatic and hands-on experience.

I remember Leo Broussard, genuine good old boy. He could smoke a big cigar and drink whiskey without taking the cigar from his mouth. But he knew more about well and completion design than anyone else in the world. And he was always willing to share his knowledge. Just not interested in making a career, his passion was designing complicated completions! read more

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.

Controversy over Shell/Gazprom £4 million gifts to Cambridge University

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Graphic from the remarkable Guardian newspaper article: Unloveable Shell, the goddess of oil (Click on image to enlarge): Sub-headline: For a century, Shell has explored the Earth to make our lives more comfortable, But in its wake, says Andrew Rowell, lies a trail of corruption, despoliation and death

Screen Shot 2013-10-01 at 07.56.54The University of Cambridge has come under fire for its acceptance of two benefactions from controversial oil giants, Shell and Gazprom. Gazprom, a Russian oil giant, is the first company to drill arctic oil and was the subject of a high profile Arctic 30 protest. An Amnesty International report found Shell to have made “deeply suspect and often untrue” claims about the causes and volumes of oil spills in the Niger Delta. Speaking exclusively to The Cambridge Student, Charlie Kronick, Greenpeace UK’s Senior Climate Advisor said: “Shell and Gazprom need to buy a lot of social capital – they’re drilling for oil in the Arctic without any credible response plan for the inevitable spills.

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140 of the 600 oil spills in the Niger Delta between January and September 2013 were caused by Shell Image credit: Sosialistisk Ungdom – SU

Bad benefactions: “Do they know what they’re selling?”

Story: Amy Provan

The University of Cambridge has come under fire for its acceptance of two benefactions from controversial oil giants, Shell and Gazprom.

Shell is giving £3.8 million to support the establishment of a laboratory for the Department of Chemical Engineering and Biotechnology. £260,000 from Gazprom will support Russian language training in the University. read more

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.

Arctic Ocean oil drilling opponents win appeal

January 22, 2014, 10:19 p.m

SEATTLE — The U.S. government violated the law when it opened millions of acres of the Arctic Ocean to offshore oil drilling, a federal appeals court ruled Wednesday, possibly delaying plans by companies such as Royal Dutch Shell to drill off the northwest coast of Alaska in the near future.

The U.S. 9th Circuit Court of Appeals in San Francisco ruled that the Interior Department did not properly evaluate the impact of oil development in the Chukchi Sea when it sold more than $2.6 billion in development leases in the environmentally sensitive area in 2008.

A coalition of environmental advocacy groups and Alaska Native organizations sued the federal government, arguing that the U.S. had offered an estimated 30 million acres of oil leases for sale without sufficient scientific information or analysis of potential effects on the region. read more

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.

Alaska Coastal Oil Drilling Challenge Revived by U.S. Court

Screen Shot 2013-11-01 at 09.31.18Alaskan coastal drilling by oil companies including ConocoPhillips (COP:US) and Royal Dutch Shell Plc (RDSA) may be further delayed after a U.S. court revived conservation group claims that the government acted illegally in opening almost 30 million acres on the continental shelf to energy exploration.

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By Karen Gullo January 22, 2014

Alaskan coastal drilling by oil companies including ConocoPhillips (COP:US) and Royal Dutch Shell Plc (RDSA) may be further delayed after a U.S. court revived conservation group claims that the government acted illegally in opening almost 30 million acres on the continental shelf to energy exploration.

Sierra Club and other organizations sued the government after the $2.6 billion sale of development leases for the Chukchi Sea off the northwest coast of Alaska in 2008, saying the amount of oil from the leases was far higher than the 1 billion barrels the U.S. Interior Department had estimated in an an environmental review. read more

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.

Shell working to contain fire at Texas facility

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Source: Reuters – Wed, 22 Jan 2014 09:19 PM

Jan 22 (Reuters) – Royal Dutch Shell Plc emergency personnel were trying to contain a fire at its facility in Deer park, Texas, the oil company said in a message posted on a community information phone line on Wednesday.

The Deer Park facility houses a 327,000 barrel-per-day (bpd) refinery and a chemical plant and is a 50-50 joint venture between Shell and Mexican national oil company Pemex.

The fire will not affect the community, industrial neighbors or other operating units at the facility, the message from an environmental supervisor at the plant said. read more

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.

Big Oil Is Unloading Billions of Assets in Spring Cleanup

Royal Dutch Shell PLC decided it’s time to clean out its global energy portfolio. The oil giant could unload as much as $30 billion in assets as part of the purge.

by Matt DiLallo, The Motley Fool Jan 22nd 2014

Royal Dutch Shell PLC decided it’s time to clean out its global energy portfolio. The oil giant could unload as much as $30 billion in assets as part of the purge.

Shell game
Shell needs to make some changes after it warned that its profits would be significantly lower than analysts were expecting. But the company has been hinting for a while that it would be paring back its portfolio. Earlier this year Shell announced it was exiting several U.S. shale basins after returns failed to meet its expectations. read more

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.

Shell’s Recent Profit Warning Won’t Be the Last

Thanks to upstream cost overruns and downstream overcapacity, 2013 probably will not be the last year Shell faces low earnings. Not only is Gorgon facing big challenges, the Shell-ExxonMobil-Total-KazMunaiGas-Eni Kashagan project was recently shut down due to pipeline leaks. The field’s current $50 billion cost is more than five times its original price

By Joshua BondyJanuary 22, 2014

Royal Dutch Shell (NYSE: RDS-A  ) just issued a big profit warning for the fourth quarter of 2013, bringing its expected full-year 2013 earnings to $16.8 billion. This is a significant fall from its 2012 full-year earnings of $27.2 billion. Thanks to upstream cost overruns and downstream overcapacity, 2013 probably will not be the last year Shell faces low earnings.

Downstream challenges
Shell’s refineries put a hole in its Q4 2013 earnings. Its Asia-Pacific and European refineries are facing margin pressures and for good reason. They don’t have access to cheap U.S. crude. They are forced to buy expensive Brent crude and pay a premium relative to U.S. refiners. Also, U.S. refiners have access to cheap natural gas and natural gas liquids. read more

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.

Shell CEO plays ‘new boss’ card

Screen Shot 2013-10-01 at 07.56.54Royal Dutch Shell’s chief executive Ben van Beurden has, on the face of it, played the classic “new boss” card – using a barely justified profit warning to brighten his own future by making the past look bad. The truth is quite different, the energy company says, and possibly far more worrying for investors.  “After taking legal advice we concluded we had an obligation to disclose the Q4 numbers as soon as possible in order to comply with stock exchange rules on fair disclosure.”

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ANDREW CALLUS:   22 Jan 2014

Royal Dutch Shell’s chief executive Ben van Beurden has, on the face of it, played the classic “new boss” card – using a barely justified profit warning to brighten his own future by making the past look bad.

The truth is quite different, the energy company says, and possibly far more worrying for investors.

Three trading days after van Beurden’s warning last Friday that quarterly net profit will fall far short of expectations, Shell’s shares are barely down 1.5 per cent in a flat market. read more

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.

Yedlin: Shell’s profit warning a wake-up call

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Several factors conspire to hurt returns

By Deborah Yedlin, Calgary Herald January 21, 2014

What will be next for Royal Dutch Shell? Last Friday, the company issued a profit warning, announcing that fourth-quarter net income was going to be $2.9 billion US, down from $5.6 billion in the same period a year earlier.

It was the first such warning in a decade.

The company blamed a number of factors, including challenges on the refining side of its business, rising exploration costs and other challenges related to operating in countries such as Nigeria, where security continues to be a problem. read more

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.

Joint bid for Shell’s Australian refining and retail business

Screen Shot 2014-01-09 at 09.32.08Jan 22 (Reuters) – : Macquarie Group and Glencore Xstrata have joined forces to bid for Royal Dutch Shell’s Australian refining and retail business, the Australian Financial Review reported on Wednesday.

SOURCE

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.

Shell EP: The lame being led by the blind

Screen Shot 2014-01-14 at 14.34.31So the shock of not becoming number one was too big for Andy Brown. I wish him a speedy recovery and thereafter he should go spend quality time with his family and enjoy his earnings. Wetselaar is no doubt a brilliant finance man. But a finance man is really a failed banker, not good enough for the real thing… And this brilliant fellow will ‘lead’ the whole upstream as a part-time job? Has Shell not learned from the past what happens if you put beancounters in charge?

Comment from an old EP hand on Jan 21st, 2014 at 16:19 

The lame being led by the blind: So the shock of not becoming number one was too big for Andy Brown. I wish him a speedy recovery and thereafter he should go spend quality time with his family and enjoy his earnings.

On shell.com I read the following:

‘During Andy’s recuperation and until his return to work, Maarten Wetselaar, Executive Vice President Integrated Gas and former head of finance for Upstream International, will serve as acting Upstream International Director, in addition to carrying out his regular duties.’ read more

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.

Rev Your Engines: Royal Dutch Shell Plc Looks Ready To Motor

2013 was another non-starter for Royal Dutch Shell (LSE: RDSB) (NYSE: RDS-B.US), and days into 2014 it stalled again. On Friday, Shell issued a profits warning, predicting adjusted earnings of $2.9 billion for the three months to the end of December, well below City expectations. It blamed oil and gas prices and difficult industry refining conditions. I was as disappointed by any investor, because I was hoping it would start the year with a clean slate, following the appointment of new chief executive Ben van Beurden. But now I’m over the shock, I am hopeful that Shell is finally going to start motoring again. read more

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.

Shell rethink on LNG looms large

Whether it is 400 or 600 staff that are destined for redundancy (depending on which rumour you believe) there is a clear pattern that Arrow (Shell’s investment vehicle in Queensland LNG) in a joint venture with PetroChina is looking to downgrade its expenditure in Queensland.

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Business columnist: January 21, 2014

The new management broom at Shell’s head office is arguably going to have a bigger impact on Australia than the changing of the guard at even a large local company.

Shell’s new international boss is clearly rethinking the economics of the company’s Australian investments – which includes Woodside, the refinery operations in Geelong, but more immediately the $20 billion Queensland-based LNG and various West Australian LNG projects.

Development of LNG was what the government was betting on to replace a large portion of investment in iron ore and coal as a driver for economic growth. read more

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.

Shell sells £700m of natural gas assets to Kuwait

Screen Shot 2013-10-01 at 07.56.54Chief executive says disposal of stakes in two Australian businesses, which follows shock profit warning last week, is evidence of ‘hard choices’ being taken

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By 9:24AM GMT 20 Jan 2014

Royal Dutch Shell has sold its stakes in two Australian natural gas businesses to Kuwait’s state energy giant.

The company announced on Monday the $1.135bn (£691m) disposal of its 8pc interest in the Wheatstone-Iago joint venture and 6.4pc in the Wheatstone liquefied natural gas (LNG) project in Western Australia to the Kuwait Foreign Petroleum Exploration Company (KUFPEC), a subsidiary of the Gulf state’s national oil company.

Ben van Beurden, who recently took over from Peter Voser as chief executive, said Shell was “refocusing our investment to where we can add the most value with Shell’s capital and technology”. read more

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.

Shell to Sell Stake in Australian Gas Field

Screen Shot 2013-01-23 at 13.17.19“All too often, Shell’s answer to an issue or problem is that the market is being too short term; that Shell takes the long term view, and that in the long term, the company’s approach will be proved right,” Lucas Herrmann, an analyst at Deutsche Bank in London, wrote in a note to clients on Monday. “Sadly, we would argue that the weight of evidence is, if anything, against the company.’’: Mr. Rats estimates that Shell will have to sell $14 billion worth of assets over the next two years to keep its commitments on reining in capital spending. He forecasts that it will sell oil fields in the North Sea, where it owns a smorgasbord of stakes in oil and natural gas fields; in Nigeria, where Shell’s production has been cut by unrest; and in North America, where the company has been losing money.

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By STANLEY REED: JAN. 20, 2014

LONDON — Royal Dutch Shell said on Monday that it would sell its minority interest in an Australian liquefied natural gas project to the Kuwait Foreign Petroleum Exploration Company for about $1.1 billion.

The sale is likely to be one of many in the oil industry this year, as companies try to raise cash for other projects or to finance share buybacks and higher dividends.

Even though global oil prices are relatively high, with Brent crude trading at about $106 a barrel, profit at many oil companies has been disappointing and the stock performance of some companies, including Shell, has been lackluster. Shares of Shell were slightly lower on Monday afternoon in London. read more

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.

Feds ask Shell for assurances on Arctic drilling

Screen Shot 2013-11-01 at 09.31.18WASHINGTON — Federal regulators scrutinizing Shell’s bid to resume Arctic drilling next summer are pressing the company for more evidence it has fixed the problems that plagued its last search for black gold in the region.

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Posted on January 16, 2014 at 5:19 pm by Jennifer A. Dlouhy

WASHINGTON — Federal regulators scrutinizing Shell’s bid to resume Arctic drilling next summer are pressing the company for more evidence it has fixed the  problems that plagued its last search for black gold in the region.

In November, Shell Oil formally asked the Interior Department’s Bureau of Ocean Energy Management for permission to finish drilling one exploratory well and bore four others at its Burger prospect in Alaska’s Chukchi Sea, using a newly leased drillship to replace the Kulluk conical drilling unit that ran aground in 2012. read more

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.

Shell Announces Sale of Wheatstone LNG Stake in Australia

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January 20, 2014, 3:29 a.m. ET

THE HAGUE, the Netherlands, January 20, 2014 /PRNewswire/ —

Royal Dutch Shell plc (“Shell”) (NYSE: RDS.A)(NYSE: RDS.B) today announced it has agreed to sell its 8% equity interest in the Wheatstone-Iago Joint Venture and 6.4% interest in the 8.9 million tonnes per annum Wheatstone liquefied natural gas (LNG) project in Western Australia for a cash consideration of US$1,135 million to the Kuwait Foreign Petroleum Exploration Company (KUFPEC), subject to closing. read more

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.

Tehran officially invites Shell, BP to invest in Iranian oil projects

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By Rahim Zamanov – Trend: Baku, Azerbaijan, Jan. 17

Iranian Oil Minister Bijan Namdar Zanganeh has formally invited giant British oil companies, Royal Dutch Shell and British Petroleum, to take part in the country’s oil and gas projects, Iranian Mehr News Agency reported on Jan. 17.

The British companies say they will return to Iranian projects once the sanctions imposed on the country’s oil and gas sector are completely lifted.

Shell and BP are on top of the list of Iran’s oil debtors, according to Mehr News Agency. read more

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.

Shell’s higher risk for lower returns

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Stephen Bartholomeusz: 20 January 2014

Shell had previously flagged a major spring cleaning program under which it plans to sell at least $US15 billion of assets over the next couple of years, with its residual 23 per cent stake expected to be offloaded imminently.

Its Geelong refinery and potentially its retail business are also up for grabs and today, perhaps in keeping with a more cost and capital-conscious approach, the Shell-PetroChina Arrow Energy joint venture cut more than 200 jobs. The prospect of the joint venture proceeding with its proposed coal seam gas-fed LNG plant at Gladstone – where three other $20 billion-plus plants are well underway – is fading fast. read more

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.

The destabilisation of Royal Dutch Shell gathers pace

Screen Shot 2014-01-20 at 15.21.18While speculation still swirls about the unexpected early exit by Peter Voser and the abrupt departure by Peter Rees, we can now add the name of Andy Brown to the mystery about the seismic developments and uncertainty that has engulfed Royal Dutch Shell Plc. 

By John Donovan 

Three weeks ago I published an article under the headline Voser wisely abandons an unstable ship.

I listed some of the factors that led me to make that assessment.

Since then the destabilisation of Royal Dutch Shell has gathered pace with the profits warning that shocked the markets on Friday. 

Today, Shell made an announcement about Andy Brown, the third exit (in his case extended medical leave after heart surgery) from the committee of executive directors in as many weeks.

While speculation still swirls about the unexpected early exit by Peter Voser and the abrupt departure by Peter Rees, we can now add the name of Andy Brown to the mystery about the seismic developments and uncertainty that has engulfed Royal Dutch Shell Plc.  read more

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.

Shell’s Arrow Energy to slash hundreds of jobs

Screen Shot 2014-01-16 at 16.48.42Royal Dutch Shell’s Arrow Energy coal seam gas venture in Queensland is set to cut potentially hundreds of jobs as speculation mounts that the proposed LNG project will be a casualty of reined-in spending by the oil major. One source said up to 600 jobs would go, representing half of the workforce.

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Angela Macdonald-Smith: January 20, 2014

Royal Dutch Shell’s Arrow Energy coal seam gas venture in Queensland is set to cut potentially hundreds of jobs as speculation mounts that the proposed LNG project will be a casualty of reined-in spending by the oil major.

One source said up to 600 jobs would go, representing half of the workforce. Another put the figure at 400 jobs out of the 1200 employed at the venture, which is half-owned by PetroChina.

The statement comes amid media reports that managers in Arrow were travelling to regional centres in Moranbah and Dalby to kick off the job reductions. read more

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.

Shell’s Oil Production Director Andy Brown Takes Medical Leave

Screen Shot 2013-10-01 at 07.56.54“First Voser, then Rees and now Brown…would the last one to leave the CMD please remember to turn out the lights?”: “Just read the news on your site! What is happening??? Never heard any rumour he was not well. And to quote Yogi Berra: ‘It ain’t over till it’s over’…. Who is next?”

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By Eduard Gismatullin January 20, 2014

Royal Dutch Shell Plc (RDSA), the biggest oil company in Europe, said its production director Andy Brown is taking leave to recuperate from recent medical treatment.

Maarten Wetselaar, executive vice president for integrated gas projects, will be acting upstream chief in addition to his duties until Brown returns, The Hague-based Shell said today in a statement without indicating when that might be.

Brown, at Shell for about 30 years, became head of upstream operations in 2012. He has led the Pearl gas-to-liquids project in Qatar, the Anglo-Dutch company’s most expensive, and was responsible for the Qatargas-4 liquefied natural gas venture. read more

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.

Wake up, Shell, the days of big spending are over

Screen Shot 2014-01-03 at 14.32.05“On Friday the chickens came home to roost, with Ben van Beurden, who took over from Peter Voser last year, having to announce a painful profits warning just 11 days before the year-end results.” The article says that Shell shareholders are fractious, and if Ben van Beurden ignores their concerns, Royal Dutch Shell Plc will be a prime target for activist investors. I have news for The Sunday Times. That is already the case. No wonder Mr Voser was content to fly off early.As for BvB, it must be the shortest honeymoon in corporate history for the CEO of a multinational. The phrase “poisoned chalice’ comes to mind.

By John Donovan

Dominic O’Connell, the Business Editor of The Sunday Times has today sent a strong message to Royal Dutch Shell in his Agenda column under the headline: “Wake up, Shell, the days of big spending are over.”

The article says that although major shareholders have had a soft spot for Shell, even through the reserves scandal, “that love affair is on the wane.”

He says Shell seems to have missed the change in policy by other oil and gas producers in response to shareholder demands, who have stopped squandering cash on expensive new projects and instead are returning it to the owners. read more

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.

In defence of Ben van Beurden

Screen Shot 2013-10-01 at 07.56.54An article published today by The Wall Street Journal – “Shell, Bruised by Big Bets, Warns of Profit Miss” – makes the case from the standpoint of Ben van Beurden, why he should not be blamed for the profits warning announced yesterday by Royal Dutch Shell Plc that shocked the markets.

By John Donovan

Screen Shot 2014-01-19 at 08.18.10Shell crushed by out of control elephants?

An article published today by The Wall Street Journal – Shell, Bruised by Big Bets, Warns of Profit Miss – makes the case  from the standpoint of Ben van Beurden, why he should not be blamed for the profits warning announced yesterday by Royal Dutch Shell Plc that shocked the markets.

Apparently he warned that Shell should be cautious in relation to multibillion dollar elephant projects, which were pushed by Jeroen van der Veer, the first Chief Executive of Royal Dutch Shell Plc. BvB claims that he had no say over investments in EP projects and “questioned if it made sense for Shell to bet so heavily on ‘big-ticket’ projects”.
read more

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A bad start for Shell CEO Ben van Beurden

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Like Mr Voser BvB seemed eager to assume the top job and appeared to be decisive, which was encouraging. That was before he became an apparent victim of what is being described as Shell’s current “annus horribilis.” Seems to be an annual event. 

By John Donovan

Not exactly an inspiring start by the new Chief Executive Officer of Royal Dutch Shell Plc, Ben van Beurden.

Three weeks into his tenure and already one of his executive director colleagues has suddenly left the company without any rational explanation. Now we have the profits warning that took the markets by surprise and a related admission by BvB that “our 2013 performance was not what I expected from Shell.”

I can only surmise that he has not been a regular visitor to this website, or he might have been rather better informed than apparently has been the case, if we are to believe his claim of ignorance, as if he was some mere bystander. read more

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Shell shock as oil giant posts profit warning and expects to make £6BILLION less this year

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Screen Shot 2013-10-01 at 07.56.54Industry experts say Shell had never before issued a profit warning ahead of its full-year earnings as the news wiped a massive £3.9billion off its share price

Oil giant Shell is set to make a staggering £6billion LESS this year, it emerged today.

In a shock profit warning, the mega firm said it had been hit by everything from lower production to higher costs for finding oil and gas.

Oil analyst Neill Morton, at Investec Securities, said Shell had never before issued a profit warning ahead of its full-year earnings. He added: “Shell has broken with its recent custom of disappointing on earnings day – it is now dishing up the bad news ahead of time.” read more

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Shell issues surprise profit warning as new boss Ben van Beurden admits recent performance ‘not what I expect’ from oil giant

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Screen Shot 2013-10-01 at 07.56.54‘This should bring to an end what has proved to be something of an “annus horribilis” for Shell, which has seen a key production target missed and weaker than anticipated profitability in North America,’ said Barclays.

Barclays pointed to Shell’s ‘stronger free cash flow position than the majority of the peer group’ and said it could ‘significantly step up divestments’ to satisfy investors’ thirst for returns.

Oil pundit Malcolm Graham-Wood said he believed van Beurden was trying to get bad news out of the way at the start of his tenure to ‘leave himself a decent starting point to what might be ten years in the job’. read more

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Selection of article links relating to Royal Dutch Shell 17 Jan 2014

Screen Shot 2013-10-01 at 07.56.54Selection of article links relating to Royal Dutch Shell kindly provided by a regular contributor

How Royal Dutch Shell Will Soon Become a Major Player in Natural  DailyFinance-2013 was a difficult year for integrated major Royal Dutch Shell due to … disruptions in Nigeria, one of its major oil-producting geographies.

Federal Reserve: Deepwater Horizon Oil Spill Is What Scares Us …: Huffington Post-Jan 14, 2014: That expansion, plus recent catastrophes like the BP oil spill, has ….

Shell shock: Oil giant warns of ‘significantly lower’ profitCNBC.com read more

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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)

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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

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Shell warns of plunge in profits

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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

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.

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

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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

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.

Rolf Wilborg, Bill Campbell and the battle for offshore safety

Screen Shot 2014-01-16 at 17.44.20There is a striking similarity between Rolf’s case and the whistleblower activities of Bill Campbell, the retired Health & Safety Group Auditor of Shell International who warned Shell about evidence of false and misleading information in Shell Brent Bravo maintenance records, prior to the tragic, but avoidable explosion in which offshore workers were killed. Safety records had been routinely falsified and Shell had operated a notorious “Touch Fuck All” maintenance policy that put production (and profits) before safety.

By John Donovan

The plight of Rolf Wilborg Ex  Norwegian Petroleum Directorate regulator for the Norwegian sector offshore has been brought my attention.

There is a striking similarity between Rolf’s case and the whistleblower activities of Bill Campbell, the retired Health & Safety Group Auditor of Shell International who warned Shell about evidence of false and misleading information in Shell Brent Bravo maintenance records, prior to the tragic, but avoidable explosion in which offshore workers were killed. Safety records had been routinely falsified and Shell had operated a notorious “Touch Fuck All” maintenance policy that put production (and profits) before safety.  read more

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Shell eyeing job cuts at Geelong Refinery

Screen Shot 2014-01-16 at 16.48.42Shell’s refusal to guarantee the future of its Geelong refinery has led Australian Workers Union Victorian secretary Ben Davis to warn that the company will axe jobs whether it finds a buyer for the asset or not…

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16 Jan, 6:57 AM

Shell’s refusal to guarantee the future of its Geelong refinery has led Australian Workers Union Victorian secretary Ben Davis to warn that the company will axe jobs whether it finds a buyer for the asset or not, The Australian reports.

According to the newspaper, Mr Davis lashes governments for failing to do enough to save the up to 700 jobs he expects could be cut.

“We are expecting heavy losses regardless of the outcome of the sale. The question is when and how many, not if, jobs will be lost,” Mr Davis warned. read more

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.