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Posts on ‘February 1st, 2014’

Shell puts Arctic drilling plans on ice as it posts first profit warning in a decade

 Screen Shot 2013-01-11 at 20.09.51…van Beurden warned that the pain may not be over, saying it was possible that Shell would make new writedowns on its North American operations.

The US was among the factors that dented this year’s performance, as Shell continued to feel the effects of a shale gas glut that has sent prices tumbling.

Its North American arm is likely to be restructured, with some of its assets there to be put up for sale.

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By Rob Davies

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Shell’s new boss has put controversial Arctic drilling plans on hold and vowed to slash spending after the oil giant was rocked by its first profit warning in a decade.

Ben van Beurden said Europe’s largest company by revenue would be ‘changing emphasis’ after a tough year that saw pre-tax profits slump 23 per cent to £15.3billion.

‘None of us at Shell are comfortable with these results,’ he said, admitting that ‘we’ve lost momentum and can sharpen our performance in a number of areas’.

Van Beurden’s plan will see spending hacked back from the £28billion of last year to £22.5billion in 2014 – largely by making fewer acquisitions and launching a £9billion two-year asset sale programme. 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 FRAUD AND SCAM ALERT

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CLICK ON FRAUD AND SCAM ALERT IMAGE TO ENLARGE

By John Donovan

Screen Shot 2014-01-31 at 00.40.27SHELL FRAUD AND SCAM ALERT: This is not about the way Royal Dutch Shell Plc executive directors, including Ben van Beurden and Simon Henry (right), have held back information from Shell shareholders until eventually being advised by lawyers that Shell must issue a profits warning, but about scam artists using Shell’s name to front bogus job recruitment schemes, fake lotteries, sham business propositions etc. Some might say there is little difference – ask OSSL in Ireland who accuse Shell directors of deceiving them. I receive enquiries almost every day from people trying to fathom whether purported communications from Shell are genuine. I am not going to publish them because it might give legitimacy to names and contact information used by the fraudsters. Instead, I am continuing to refer people to the Shell Fraud and Scam alert on the Shell.com website. Wonder when certain Shell executive director names will be posted? 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 leadership: Bring back Sir Henri Deterding

Screen Shot 2014-02-01 at 10.22.50If only it was possible to resurrect Sir Henri Deterding at his best, the extraordinary Dutchman who built the Royal Dutch Shell Group. In his first couple of decades at Shell he was a brilliant decisive leader brimming with ambition, ideas and incredible determination. He would have acted to exploit BP’s self-inflicted misfortunes, whereas Van der Veer and Voser let the opportunity pass and instead took Shell down a disastrous path placing all bets on so-called elephant projects that turned out to be white elephants.

By John Donovan

In my view, the last Shell executive director/Chairman who had any gumption and plain commonsense was Sir John Jennings.

Since his time, long term Shell shareholders have witnessed a parade of hopelessly incompetent Royal Dutch Shell fat cat bosses.

The roll call of failed leaders includes Sir Philip Watts, Jeroen van der Veer and Peter Voser.

All three mired by disappointment and scandal.

Jorma Ollila has been non-executive Chairman of Royal Dutch Shell Plc for several years spanning the tenures of the last two failed CEO’s and has proven equally uninspiring and flawed. 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.

Struggling Shell defers Arrow LNG project again

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Screen Shot 2013-12-22 at 19.09.52Angela Macdonald-Smith: February 1, 2014

Royal Dutch Shell has ruled out any commitment this year to the development of its Arrow liquefied natural gas venture in Queensland and signalled a more rigorous approach to other new projects in Australia, where it is also considering big asset sales.

Global chief executive Ben van Beurden would not comment on whether Shell’s remaining $7.4 billion stake in Woodside Petroleum would be among the $US15 billion ($17 billion) of divestments targeted for 2014-15. 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 capitulation to activist investors will send shivers through Big Oil

FINANCIAL TIMES

FULL ARTICLE

RELATED FT ARTICLE: Shell – what went wrong?

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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