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Royal Dutch Shell cuts more jobs in Aberdeen

By Jillian Ambrose: 1 JUNE 2017 • 1:44PM

Royal Dutch Shell will shed a further 90 jobs from its offices in Aberdeen as it continues to whittle away at costs in the wake of a downturn in the oil market.

The Anglo-Dutch oil giant warned last year that it would make further cuts to its onshore UK workforce, most of which is based in Aberdeen, as part of a global cull.

Shell has already axed 750 jobs from its North Sea business, of which two thirds were UK jobs.

Since then Shell has sold off half its North Sea assets in a £3bn deal with private equity-backed oil company Chrysaor. 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.

Oil giant Shell to cut 90 jobs at Aberdeen headquarters

Chris Foote: 1 June 2017

Oil giant Shell is to cut 90 jobs at its Scottish headquarters in Aberdeen.

Shell told staff on Monday that the positions are expected to go by the end of 2017.

The firm said the move is not connected to plans to sell off £3bn of assets to North Sea rival Chrysaor.

Shell is also cutting 380 jobs in Glasgow with the closure of its offices in the city.

Steve Phimister, UK vice-president for upstream operations, said: “We intend to reduce the size of the organisation by approximately 90 onshore positions by the end of 2017.

“Offshore roles will not be impacted by this decision.

“Our aim is to ensure our organisation is appropriate to support our drive to become the most competitive and resilient oil and gas business in the UK Continental Shelf. 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.

Ninety jobs at oil giant Shell to go in Aberdeen

1 June 2017 

Ninety jobs are to go at oil giant Shell’s North Sea headquarters in Aberdeen.

Shell said the cuts would help it maintain competitiveness and ensure the long-term sustainability of the North Sea business.

Of the 90 posts going, half are full-time employees with the rest made up of agency staff and contractors.

The jobs are expected to go by the end of the year.

Shell’s 1,700-strong workforce in Aberdeen were told about the redundancies at meetings on Thursday morning.

No jobs will be lost offshore.

Shell announced in January it had agreed to sell $3.8bn (£2.46bn) worth of North Sea assets to oil exploration firm Chrysaor. 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: Executing On Its Plan But No Upside In The Stock Price

By : May 31, 2017

Royal Dutch Shell (RDS.A, RDS.B) suffered a dramatic drop in earnings and cash flow in 2015 and 2016, as crude oil prices fell from about $100 per barrel to about $50 barrel in the second half of 2014.

From $14.7 billion earnings in 2014, Shell’s earnings fell to $2.2 billion for 2015 and $4.8 billion in 2016. In response, Shell embarked on a strategic transformation of their entire company, of which the key cornerstones were:

  • Completion of the acquisition of BG;
  • Divestment of in assets;
  • Bringing new production online for ongoing projects;
  • Realizing operating cost reductions; and
  • Reducing debt.

My analysis of their financials show that while they are on track to achieve their plan, investors should not expect dividend increases through 2020. In this article, I will review the impact of the divestments on the balance sheet and the required run-rate free cash flow that Shell will need to deliver on its financial strategy. I conclude that the dividends are safe, but share price appreciation will be limited. 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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