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Posts on ‘January 30th, 2015’

Shell overstated its fourth quarter results by $178 million

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Screen Shot 2015-01-06 at 21.26.38Fri Jan 30, 2015 4:48pm GMT

(Reuters) – Royal Dutch Shell (RDSa.L) said on Friday it had overstated its fourth quarter results by $178 million (118.44 million pounds) due to an error in the valuation of its fuel inventory.

The company said its underlying earnings, which are most closely watched by analysts and investors, were unaffected by the mistake.

“A stock valuation error in its downstream operations was discovered,” Shell said in a statement.

“Royal Dutch Shell’s fourth quarter and full year 2014 earnings, on a current cost of supplies (CCS) basis are unchanged,” the company said in the statement.

However, as a consequence of the error, Shell reduced fourth quarter income to shareholders from $773 million to $595 million. Full year income was cut from $15,052 million to $14,874 million. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell knew of fraud and moneylaundering activities during purchase of an oilfield in Nigeria

Screen Shot 2014-10-30 at 09.22.43This story is currently being reported by multiple Dutch news publishers on 31 Jan 2015

Non professional translation

Shell knew of dubious practices in Nigeria

Shell knew of fraud and moneylaundering activities during the purchase of an oilfield in Nigeria.

This is a statement in OneWorld magazine in an investigation of “dubious” trading in the African Country.

According to OneWorld, Shell acted against its own business principles, as is shown in a reconstruction of the purchase of the oilfield.

Shell paid together with ENI more than a billion dollars for a licence in oilfield 245, off the coast of Nigeria.

This field contains about a quarter of all Nigerian reserves. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Where is my defamation writ from Edward Heerema, Allseas son of Pieter Schelte?

Screen Shot 2015-01-26 at 19.09.50By John Donovan

Despite my forthright comments about Edward Heerema (the owner of the multibillion dollar ship Pieter Schelte), describing him a sinister individual who engages in shady financial machinations, I have not yet received a defamation writ.

Threats yes, but no writ. 

Edward Heerema is one of the squabbling sons of Pieter Schelte Heerema, the offshore pioneer and former German Waffen SS officer/war criminal. 

It could be because Allseas does not have my address, in which case they only need to ask me for it. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell shelves Arrow LNG project in Queensland

Screen Shot 2014-06-23 at 11.37.41From an article by Angela Macdonald-Smith published 30 Jan 2015 by The Sydney Morning Herald under the headline:

“Shell shelves Arrow LNG project in Queensland”

Royal Dutch Shell has finally ditched plans for a new $US20 billion-plus liquefied natural gas project in Queensland,making it the latest casualty of the oil price slump.

Global chief executive Ben van Beurden said the proposed greenfield Arrow LNG project with PetroChina was “off the table”, while other ventures would be slowed as priority was given instead to Shell’s North American LNG projects.

The Arrow greenfield project is formally “cancelled,” Shell said in a presentation released for its fourth-quarter results in London which cited several ventures that were being deferred or abandoned in the wake of the collapse in oil prices. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell, Exxon Sell North Sea Field to ONE After Oil-Price Rout

Screen Shot 2014-06-23 at 11.37.41Article by Jillian Ward published 29 Jan 2015 by Bloomberg under the headline:

“Shell, Exxon Sell North Sea Field to ONE After Oil-Price Rout”

Extracts

(Bloomberg) — Royal Dutch Shell Plc and Exxon Mobil Corp. have sold their stakes in the Sean field to Oranje-Nassau Energie BV for an undisclosed sum as drillers seek to offload aging North Sea assets.

Shell and Exxon each sold a 25 percent stake in the gas field to Amsterdam-based ONE, the companies said. The deal — still subject to partner and regulatory approvals — will likely be completed in the first half of 2015, Shell said in an e-mailed statement.

“Sean has entered a phase where it offers greater value to other companies than it does for Shell,” The Hague-based company said. “The deal shows that Shell is delivering its strategy to focus on areas where the company can add value in the U.K. Continental Shelf.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Inside Shell’s earnings report: Proof that the Saudis’ oil market strategy is working

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Screen Shot 2015-01-30 at 12.02.38By Puneet Kollipara January 29 at 5:43 PM

Saudi Arabia shocked the world last fall in breaking from its traditional mold of keeping oil production artificially low to prop up oil prices. Instead, the Saudis and other OPEC nations voted to keep oil output steady even in the face of a global supply surplus, a move seemingly designed to respond to the threat that the Saudis see from rising output from non-OPEC producers — from U.S. shale plays to Russia’s Arctic to Brazil’s deep offshore waters. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell’s Arctic Dilemma

CONTRIBUTOR COMMENT

In the context of BvB’s comments about the Arctic, it is perhaps worth noting that in the absence of an intention to pursue their Arctic prospects, Shell would be obliged to write off/write down their past expenditure… And that would have resulted in a very miserable result for 2014. The problem has at least been delayed, but it won’t go away.

RELATED: Bad idea: Shell’s gearing up to start drilling in the Arctic again: salon.com

Extract

Neither risk of an oil spill nor global climate change nor the falling price of oil will keep Shell from exploiting the Arctic’s oil.

After suspending its Arctic program for years following the grounding of one of its drilling rigs, the company announced Thursday that it plans to start drilling this summer in Alaska’s Chukchi Sea.

“Will we go ahead?” CEO Ben van Beurden said during the company’s fourth quarter results conference. “Yes if we can. I’d be so disappointed if we wouldn’t.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

BP Shell merger on the horizon

Screen Shot 2014-10-28 at 12.29.57Potentially, a prolonged period of low oil prices might finally see BP and Shell, like two drunken sailors, holding each other up through the merger that has so long been on the horizon.

AN ARTICLE BY ALEX BRUMMER FOR THE DAILY MAIL PUBLISHED 30 Jan 2015 

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“ALEX BRUMMER: Big oil players confront the slump by slashing capital expenditure”

Oil exploration and production is a long-term enterprise so it is encouraging that Shell chief executive Ben van Beurden is not hitting the panic button.

The group’s market value of £139billion makes it the biggest beast on the FTSE 100 by a long chalk. In that context, and with its strong cash flows, the asset disposals and the proposed cuts in capital spending of $15billion (£9.9billion) over three years are relatively modest.

In pressing on with capital expenditure, despite the fall in the oil price by 60 per cent over the last year, Shell looks to be counting on energy prices bouncing back. It is an interesting assumption because there is a prevailing view that there has been a mispricing of oil for a lengthy time because of a glut of supplies. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell bows to investor pressure on climate risk

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Screen Shot 2015-01-06 at 21.26.38WASHINGTON Thu Jan 29, 2015 1:49pm EST

(Reuters) – In a rare move, oil major Shell on Thursday backed a resolution proposed by activist investors to force the company to recognize climate change risks by improving its transparency.

Shell’s executive vice president of investor relations JJ Traynor said the company would urge shareholders to vote for the resolution at the annual general meeting in May.

The announcement coincided with Shell saying Thursday that it would cut $15 billion in spending but continue to drill in Alaska’s Arctic.

The resolution was filed by the Aiming for A coalition of UK investors representing close to £200 billion ($300 billion) in assets and calls on Shell to disclose additional information in five areas related to climate change in its annual reporting from 2016. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com
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