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Posts on ‘February 4th, 2014’

Shell’s fall from grace

Screen Shot 2014-01-03 at 14.32.05In May 2013, when Voser’s retirement was announced, he was described by Reuters as having been Shell’s “renaissance CEO”. Fast-forward eight months and Voser’s successor stunned the market with a profits warning. It was a remarkably quick fall from grace for both the former chief and the company… …the company’s misstatement of its proven reserves early in the century landed it with a multi-million dollar fine from stock market regulators and forced the departure of its chairman as well as shocking investors. Shell has had its own environmental problems in Nigeria. Now it is being severely criticised for overspending.

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By John Kemp

Feb 4 (Reuters) – “All political lives, unless they are cut off in midstream at a happy juncture, end in failure,” wrote Enoch Powell, a former member of Britain’s parliament who held controversial views on immigration and national identity.

Much the same could be said of business careers, as Shell’s former chief executive Peter Voser has learned the hard way. His strategy of continuing to invest in complex megaprojects through the oil industry cycle is now blamed for the company’s recent profit warning and underperformance. 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 starts production from second Mars platform in deep water Gulf of Mexico

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Shell starts production from second Mars platform in deep water Gulf of Mexico

04 Feb 2014 Shell today announces it has begun production from the Mars B development through Olympus – the company’s seventh, and largest, floating deep-water platform in the Gulf of Mexico. It is the first deep-water project in the Gulf to expand an existing oil and gas field with significant new infrastructure, which should extend the life of the greater Mars basin to 2050 or beyond. Combined future production from Olympus and the original Mars platform is expected to deliver an estimated resource base of 1 billion barrels of oil equivalent (boe).

“With two large platforms now producing from the deep-water Mars field, this project demonstrates our deep-water project delivery and leadership,” said John Hollowell, Executive Vice President for Deep Water, Shell Upstream Americas. “We safely completed construction and installation of the Olympus platform more than six months ahead of schedule, allowing us to begin production early from the development’s first well. Olympus is the latest, successful start-up of our strong portfolio of deep-water projects, which we expect to generate substantial value in the coming years. Deep water will continue to be a core growth opportunity for 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.

BP versus Shell

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Screen Shot 2013-10-01 at 07.56.54In the wake of this month’s profits warning from Royal Dutch Shell and its problems in Nigeria, its upstream and downstream problems and the failure of its massive capital expenditure program to yield any meaningful benefits in the short term, investors appear to be asking themselves whether a move back to BP might be in order. Shell’s new CEO Ben van Beurden in his new role as CEO appears to be clearing the decks for some form of company reorganisation as the company struggles with falling revenues and lower oil prices. 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 and Mad Dog Gaddafi

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The compilation of articles accessible below provide the answer to why Tony Blair and Royal Dutch Shell executive director Malcolm Brinded (above left), sucked up to the Libyan dictator Muammar al-Gaddafi, the monster ultimately responsible for the Pan-Am 103 bombing and other terrorist atrocities. They include the murder of a British police constable Yvonne Fletcher shot outside the Libyan Embassy in London while policing an anti-Gaddafi demonstration.

By John Donovan

Last night a remarkable 90 minute documentary was aired on BBC FOUR TV under the title: Mad Dog: Gaddafi’s Secret World

Part of the documentary covered the bombing of Pan Am 103 and the subsequent release of the convicted bomber Abdelbaset al-Megrahi in a deal involving oil.

Shell is the only oil company named in the documentary. It claims to operate under strict business principles, but in fact has no scruples at all.

The following are extracts from a related Daily Mail article published under the headline: Shell wrote letter Tony Blair used in £325m Libyan oil deal 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.

Chris Finlayson’s dreadful first year as chief executive at BG

Screen Shot 2014-02-04 at 13.42.40LONDON EVENING STANDARD TODAY:

Chris Finlayson’s dreadful first year as chief executive at BG Group was today capped by the news that profits slumped 37% to $4.16 billion (£2.54 billion) in 2013. The former Royal Dutch Shell executive said he shared shareholders’ “disappointment” at the oil producer’s many problems, which have included four profit warnings in little more than 12 months. Garry White, chief investment commentator at broker Charles Stanley, said: “I reckon it’s time for BG Group to be broken up.”

By John Donovan

WE REPEATEDLY WARNED BG SHAREHOLDERS AND EMPLOYEES ABOUT CHRIS FINLAYSON…

HE IS NOT THE ONLY COMMON DENOMINATOR BETWEEN ROYAL DUTCH SHELL AND BG GROUP.

BOTH COMPANIES HAVE JUST ISSUED PROFIT WARNINGS

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THE DEVASTATING ARTICLE PUBLISHED TODAY BY THE LONDON EVENING STANDARD IS SELF-EXPLANATORY

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Gloom continues for new BG boss amid profits slide

4 February 2014

Chris Finlayson’s dreadful first year as chief executive at BG Group was today capped by the news that profits slumped 37% to $4.16 billion (£2.54 billion) in 2013.

The former Royal Dutch Shell executive said he shared shareholders’ “disappointment” at the oil producer’s many problems, which have included four profit warnings in little more than 12 months. 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.

BP Fourth-Quarter Profit Drops

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February 04, 2014

Screen Shot 2014-01-30 at 00.47.49BP follows Royal Dutch Shell Plc (RDSA) and Exxon Mobil Corp., the two biggest oil companies by market value, in reporting lower earnings as the cost of drilling rises, refining profits slump and oil prices stagnate.

Shell and BG Group Plc (BG/) both issued profit warnings for the fourth quarter. BG today reported the first loss since 2000 on output disruptions from Egypt and higher exploration costs. Shell said last week it will accelerate asset sales to offset investment after capital spending reached a record in 2013. 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.

BP share price: Oil giant’s earnings in focus after rivals’ gloomy results

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Screen Shot 2014-01-30 at 00.47.49by Alice Young, Feb 3 2014, 15:58 GMT

BP’s results follow that of European peer Shell, which last week posted a drop in its fourth-quarter and full-year earnings matching a shock profit warning issued earlier in January.

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.

Broker round-up: Shell

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February 03 2014, 1:00pm

Screen Shot 2013-10-01 at 07.56.54Royal Dutch Shell (LON:RDSB) has been downgraded by HSBC, despite the broker welcoming the actions taken by new chief executive Ben van Beurden.Shell’s new boss is right to focus on improving the Anglo-Dutch giant’s financial performance and its capital efficiency, says the broker, including a reduction in growth capex and the clear guidance on increased disposals. According to HSBC, however, the market has anticipated many of his changes already… 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.

Australian union accuses Shell, Caltex of lax tanker safety rules

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Joanna Mather: Tuesday 4 February 2014

Screen Shot 2013-10-01 at 07.56.54The Transport Workers’ Union has announced a national dispute in the oil, fuel and gas industry, claiming up to 45 per cent of petrol tankers have poor break maintenance.

The union is seeking to have the Road Safety Remuneration Tribunal issue orders requiring that companies including Shell and Caltex enforce maintenance rules for fuel tankers.

There are an estimated 1500 tankers on Australian roads.

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.

Argentina Accuses Shell of Conspiracy After Price Increase

Screen Shot 2013-10-01 at 07.56.54Royal Dutch Shell Plc’s Argentine unit was accused of conspiring against the country’s interests by Cabinet Chief Jorge Capitanich after the oil producer increased fuel prices following a devaluation of the peso. “Shell’s attitude and the one from its highest executive is conspiratorial and against the interests of the country,” Capitanich told reporters this morning in Buenos Aires. “The only explanation for this behavior is greediness.”

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Feb 3, 2014 7:08 PM GMT

Royal Dutch Shell Plc (RDSA)’s Argentine unit was accused of conspiring against the country’s interests by Cabinet Chief Jorge Capitanich after the oil producer increased fuel prices following a devaluation of the peso.

Shell boosted prices an average 12 percent at its service stations, which represent 18 percent of the Argentine market, the company said in an e-mailed statement published by local newspapers today. The company’s previous price increase of 6.8 percent was on Jan. 2, before Argentina moved to weaken the peso 15 percent from Jan. 22 to Jan. 23, the largest drop since 2002. 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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