May 25th, 2016
by John Donovan.

The cuts are mainly due to Shell’s takeover of oil and gas exploration firm BG Group and prolonged low oil prices, it said.
Shell has announced more than 10,000 job losses over the past two years.
In February, the firm posted its steepest fall in full-year earnings for 13 years.
“Despite the improvements that we have made to our business, current market conditions remain challenging,” said Shell UK and Ireland vice president Paul Goodfellow.
“Our integration with BG provides an opportunity to accelerate our performance in this ‘lower for longer’ environment. read more
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May 25th, 2016
by John Donovan.


By Rupert Hargreaves – Wednesday, 25 May, 2016
Shell’s (LSE: RDSB) Chief Executive Ben van Beurden shocked the market yesterday when he revealed that Shell’s dividend payments and even its very existence are under threat if the shift to renewables takes place too fast.
The group’s CEO made these comments at Shell’s annual meeting this week as 97% of the company’s shareholders voted to reject a resolution to invest profits from fossil fuels in becoming a renewable energy company. Speaking at the meeting, Ben van Beurden said: “We cannot [transition to renewables] overnight because it could mean the end of the company.” read more
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May 25th, 2016
by John Donovan.


By Rakteem Katakey: May 25, 2016 — 11:19 AM BST
Royal Dutch Shell Plc will cut 2,200 more jobs, taking the total tally of losses to 12,500 from 2015 to 2016 as the world’s second-biggest oil company continues to adjust to the slump in prices.
At least 5,000 jobs will be cut this year, the company said in an e-mailed statement. These reductions are in response to oil prices staying “lower for longer,” and as a result of the acquisition of BG Group Plc earlier this year, said Paul Goodfellow, Shell’s vice president for the U.K. and Ireland. read more
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May 25th, 2016
by John Donovan.

By THE ASSOCIATED PRESS: LONDON — May 25, 2016, 6:08 AM ET
Anglo-Dutch oil company Royal Dutch Shell says it will trim at least 2,200 jobs globally amid challenging times in the oil industry.
The losses are in addition to cuts already being implemented because of the energy company’s merger with BG. The losses will include some 475 positions in the North Sea.
Oil companies around the world are slashing jobs and postponing investments to adjust to lower energy prices. Prices have fallen because production remains high even as slower economic growth, particularly in China, reduces consumption. read more
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May 25th, 2016
by John Donovan.

Chris Foote: Wed 25 May 2016
Dutch oil giant Shell plans to cut nearly 500 jobs from its North Sea workforce.
The announcement on Wednesday came as the result of a £47bn merger with the BG Group.
All 475 jobs are expected to be lost by the end of the year, along with 4500 others worldwide.
It is believed to be one of the largest announcements of North Sea job losses in recent years.
UK and Ireland Shell vice-president Paul Goodfellow said: “We’re continuing the improvement journey we’ve been on to create a competitive and sustainable business in the North Sea. read more
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May 25th, 2016
by John Donovan.


Royal Dutch Shell is facing allegations that the firm which signs off its accounts is not impartial.
A leading investor yesterday raised concerns that EY, which has been appointed as auditor of the oil supermajor, had a conflict of interest because it had checked the books of BG Group ahead of its £36billion merger with Shell.
Standard Life, which raised the objection, said it had it had already voiced concerns about conflicts of interest at the Shell annual general meeting last year and said that it voted against the appointment this year and was ‘disappointed’ with Shell’s decision to select EY. read more
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May 25th, 2016
by John Donovan.

(Reuters) – A Royal Dutch Shell (RDSa.L) pipeline near Tracy, California has been repaired after spilling up to 21,000 gallons of oil, ABC News reported on its website on Tuesday.
Shell shut down its San Pablo Bay pipeline at Tracy, California last week after noticing very low suction and increased flow rate.
Shell did not give a timeline for the resumption of oil flow, according to the report.
(Reporting by Harshith Aranya in Bengaluru; Editing by Frances Kerry)
SOURCE
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