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Shell Job Cuts

Shell’s bonus for City as drilling for savings yields extra $1 billion

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RUSSELL LYNCH: 7 June 2016

Royal Dutch Shell boss Ben van Beurden delivered a $1 billion (£688 million) present to the City today as he pumped up more savings from the oil major’s $54 billion mega-merger with rival BG Group.

The shares rose almost 3%, or 48p, to 1749p as the cost-cutting drive, which has stepped up a gear since the deal completed in January, now promises $4.5 billion in savings by 2018. 

That compares with the $3.5 billion previously estimated.

The latest savings will not involve further job cuts on top of the extra 2200 announced two weeks ago by the firm, which took the total number of jobs shed through the merger to at least 12,500.  read more

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Shell Deepens Spending Cuts, Promises More Savings From BG

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By Rakteem Katakey and Ryan Chilcote: June 7, 2016

Royal Dutch Shell Plc cut spending plans further and promised increased savings following its record purchase of BG Group Plc, as Europe’s largest oil company continues to adjust to the slump in energy prices.

Shell will spend $29 billion this year, it said Tuesday. That compares with a May forecast for capital expenditure “trending toward” $30 billion, which was itself down from an earlier projection of $33 billion. Synergies from the BG acquisition will provide $4.5 billion in savings in 2018, up from an earlier estimate of $3.5 billion. read more

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Report suggests Shell may be about to reveal more cost-cutting

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Screen Shot 2016-05-21 at 10.18.28Written by Keith Findlay – 06/06/2016 7:09 am

Oil giant Shell may be about to announce further cost cutting and a possible delay to its plans to offload assets, a report said yesterday.

Chief executive Ben van Beurden is under “increasing pressure” to justify the firm’s £35billion takeover of BG Group in the middle of a severe oil and gas industry slump, it added.

Shell is holding a capital markets day for investors tomorrow and it is thought it may update on its sale plans and fresh cost-cutting then.

Last month, Shell chief financial officer Simon Henry said cost levels in the North Sea needed to come down “substantially”.

Action already taken to integrate BG within Shell’s operations, including job cuts, were “probably about it for now” but he did not rule out further headcount reductions. read more

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Shell poised for deep cuts as BG casts shadow

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Danny Fortson: June 5 2016, 12:01am, The Sunday Times

Shell could show fresh signs of financial strain from its takeover of rival BG this week as it lays out plans for deeper cost-cuts and a potential delay in the mammoth asset sale launched by the oil giant to help pay for the £35bn deal.

Chief executive Ben van Beurden is under increasing pressure to justify the blockbuster acquisition, which he pulled off despite the plunging oil price.

Crude closed on Friday at $49 a barrel, less than half its 2014 high. read more

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Shell jobs: Move means “lower forever”

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Written by Erikka Askeland – 26/05/2016 7:45 am

Paul Goodfellow, Shell’s Vice President for UK & Ireland, has said that despite the “tough message” he had to deliver yesterday to staff in Aberdeen, he saw green shoots of sustainable change emerging in the North Sea.

The 475 North Sea job cuts – part of a wider round of 2,200 across Shell’s global operations – comes after a 90 day review since Shell’s £36million mega-merger with BG Group earlier in the year.

He said this most recent round of job losses was not just in response to “lower for longer” – the common industry view that oil will stay around $50 for the forseeable future – but “lower forever”. read more

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‘Difficult time’ for oil workers as Shell workforce is slashed

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By GREG CHRISTISONPUBLISHED: 22:22, Wed, May 25, 2016 

The move, announced yesterday, is a result of the firm’s £35billion merger with the BG Group and the prolonged slump in oil prices. 

A total of 475 positions will be lost from the company’s UK and Ireland upstream business, which deals primarily with exploration, by the end of the year. 

All job losses are expected to affect Scotland – home to around 2,200 Shell employees – with most coming from the firm’s Aberdeen headquarters. Around 40 offshore posts will be cut and there will also be losses at St Fergus Gas Terminal, in Aberdeenshire, and the firm’s plant at Mossmorran, in Fife. read more

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Ministers pledge support as Shell axe 475 North Sea oil jobs

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Screen Shot 2016-05-21 at 10.18.28By PAUL WILSON: Wednesday 25 May 2016

SCOTLAND’S oil and gas sector is reeling from yet another hammer blow after Shell announced plans to slash its UK workforce by a fifth.

The oil giant said it will cut 475 people from its UK and Ireland business. All the jobs are understood to be based in Aberdeen and the north-east.

Shell announced it will lose 2,200 jobs from its workforce globally as it grapples with lower oil prices, meaning 12,500 staff and contractor roles will be lost between the start of 2015 and the end of this year. read more

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Shell to cut another 2,200 jobs

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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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Shell to Cut at Least Another 2,200 Jobs Globally

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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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Oil giant Shell to cut 475 jobs from North Sea workforce

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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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Shell braced for shareholder pay revolt

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Jillian Ambrose21 MAY 2016 • 7:47PM

Shell executives are braced for a shareholder backlash this week after influential retail advisor ShareSoc joined the growing rebellion against its multi-million pound executive pay.

The UK’s largest individual investor group will urge its 4,000 members to follow the lead of major Shell investor Royal London Asset Management and proxy institutional advisors in opposing Shell’s rising pay packet for boss Ben Van Beurden.

Mr Van Beurden is in line for a salary of £1.4m, a bonus of £3.5m, and a pension of £441,000 for 2015, despite reporting its steepest losses in 13 years and a planned job cull of 10,000. He has also received shares worth £9.7m, which vest in three years if he meets key performance targets. read more

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Shell’s brutal and unfair approach to reducing staff numbers

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UPDATED WITH MORE COMMENTS

BY “FRUSTRATEDATSHELL”

Interested to know if any current Shell employees have picked up on the unfair approach to the current reorganisation.

Management in Netherlands are seeking RFA’s and operating to a different timeline to the UK and Australia, with Australia being able to steam ahead with their reorg plans as they do not have the same constraints. So much so, that impacted employees are being asked to second guess whether they need to apply for jobs in their base countries or to stick tight and see out the brutal and unfair approach to reducing staff numbers in their current host countries. read more

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More North Sea job cuts on the cards at Shell

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Screen Shot 2016-05-05 at 10.07.35BY MARK WILLIAMSON: Thursday 5 May 2016

ROYAL Dutch Shell’s finance chief, Simon Henry, has said there could be more job losses in its North Sea business amid the crude price plunge but the company has no plans to move activity from the Glasgow shared service centre where 450 people work.

As the oil and gas giant posted a 58 per cent fall in first quarter profits, to $1.6 billion (£1.1bn), Mr Henry said Shell wanted to take more cost out of its UK business despite shedding 500 North Sea jobs since the oil price started tumbling in 2014. read more

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Shell finance chief refuses to rule out further North Sea job losses

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Screen Shot 2016-04-25 at 15.56.32Written by Phil Allan – 04/05/2016 12:34 pm

Shell’s finance chief has refused to rule out further job losses in the North Sea as the oil giant announced its earnings had dropped by $4billion dollars in the first quarter of 2016.

Chief financial officer Simon Henry said the voluntary redundancy packaged announced recently announced as a result of Shell’s acquisition of BG Group, may not be the last to affect the North Sea as the company continues to look at cut costs from its global operation. read more

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Shell cuts spending further after BG deal

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LONDON | BY RON BOUSSO AND KAROLIN SCHAPS:Wed May 4, 2016

Royal Dutch Shell (RDSa.L) on Wednesday cut its 2016 spending by another 10 percent after completing the $54 billion acquisition of BG Group, warning that low oil prices will continue to weigh.

In its first earnings results since the Feb. 15 deal that transformed it into the world’s top liquefied natural gas producer, Shell reported better-than-expected first-quarter results despite a 58 percent drop in profits.

Reflecting the deal, Shell said it sold 12.29 million tonnes of LNG in the first quarter, up 25 percent year on year. Shell’s overall oil and gas output rose 16 percent.

Shell, however, warned that low oil and gas prices, significant maintenance at production sites as well as “substantial redundancy and restructuring charges” will impact second-quarter earnings. read more

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Shell’s blockbuster BG bid backfires as gas prices deflate

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Danny Fortson:    Published 1 May 2016

Nearly 300 staff gathered in the canteen of BG Group’s sprawling headquarters in Reading on Monday morning to hear what they had long been expecting: nearly all of them were being laid off or being forced to apply for new jobs.

Shell closed its blockbuster takeover of the gas giant in February. Huibert Vigeveno, a rising star within Shell charged with integrating the companies, announced that after an “office footprint review”, BG’s headquarters would shut. read more

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Shell starts staff cut discussions with employees in Australia

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Business | Wed Apr 27, 2016 

Shell (RDSa.L) has started discussions with employees in Australia about job reductions, the company said on Wednesday, as part of plans to cut 10,300 jobs worldwide to lower costs.

“Shell last week commenced conversations with employees about business efficiency and staffing levels – as a result of combining it with the previously BG-owned QGC – a process that will lead to job reductions,” a spokesman said.

Shell is in the process of integrating assets it acquired as part of its $50 billion (£34.2 billion) takeover of gas producer BG Group, including BG’s Australian subsidiary QGC. read more

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Shell to axe jobs as cost-cuts hit home

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Shell last week informed local staff that it was starting a round of job cuts, with a large portion of workers within the company asked to re-apply for their current positions.

While no fixed target has been set, it is estimated that about 250 jobs around Australia are likely to go as a result of the changes.

The round of job cuts follows Shell’s recent takeover last year of BG Group. The redundancies will remove many of the overlapping roles inherited through the takeover.

Shell had already flagged that it would axe about 2800 jobs worldwide as a result of the BG takeover, as well as a further 7000 around the globe as part of its response to the plunge in oil and gas prices. read more

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Shell to close three UK offices housing 1,600 staff

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Nick FletcherMonday 25 April 2016 13.56 BST

Royal Dutch Shell is closing three UK offices, affecting 1,600 employees, including BG’s headquarters in Reading, after its £35bn takeover of the oil and gas company earlier this year.

It has also begun a voluntary redundancy programme as part of a plan to cut 10,300 jobs across the merged group, comprising 7,500 from the original Shell business, as it attempts to cope with the recent plunge in oil prices, and another 2,800 following the merger with BG.

FULL ARTICLE read more

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Shell Outlines BG Consolidation Plans

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April 25, 2016 7:24 a.m. ET

LONDON— Royal Dutch Shell PLC will offer a new voluntary severance program for employees and plans to close a number of U.K. offices in the wake of its roughly $50 billion acquisition of BG Group PLC, the company said Monday.

The Anglo-Dutch oil giant has proposed plans to consolidate its London operations in central London and close its Thames Valley Park campus by the end of the year. The company also intends to close BG’s offices in Aberdeen by the end of 2016 and Shell’s Manchester offices by the end of 2017. read more

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Shell announces major office changes after BG takeover

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The company is cutting more than 10,000 jobs across the world, with 2,800 of those connected with the BG deal.

Shell plans to close the Thames Valley Park campus by the end of the year.

All Aberdeen-based onshore operations will move to Tullos, with BG’s offices at Albyn Place closing, as will Shell’s Brabazon House office in Manchester.

Shell said the decisions were subject to the outcome of staff consultation.

The company is also planning to open a voluntary redundancy arrangement at Thames Valley Park. read more

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Shell to close BG office in Aberdeen this year with job cuts expected

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Shell to close BG office in Aberdeen this year with job cuts expected

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ROYAL Dutch Shell has announced plans to close the BG North Sea head office in Aberdeen where around 300 people work in a move which is expected to lead to further job cuts in the city.

The Anglo Dutch oil giant will run the enlarged North Sea Business formed by the £35bn takeover of BG from its office in the Tullos area of Aberdeen.

Led by chief executive Ben van Beurden, Shell said all 300 BG staff will relocate to Tullos initially. They will be able to apply for redundancy under a voluntary severance programme which is expected to result in an undisclosed number of jobs being cut. read more

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Shell to close BG head quarters near London by year end

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As part of the 10,300 job cuts it has already announced, 2,800 will come from the integration of BG and 7,500 from its existing staff and direct contractor base.

Business | Mon Apr 25, 2016 

Royal Dutch Shell (RDSa.L) will close the head office of BG Group, the gas producer it agreed to acquire for $50 billion in February, by the end of the year, it said on Monday, as part of a plan to save costs and cut 10,300 jobs worldwide.

The oil major will also offer voluntary redundancy packages to staff at the BG headquarters in Reading, near London, and to Shell staff in the UK.

This follows a similar announcement made to Dutch staff earlier this month.

The oil company is under intense pressure to rein in costs as a slump in oil prices has hit its profits. read more

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Shell starts voluntary redundancy process for Dutch staff

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Wed Apr 20, 2016

Shell said it had started a voluntary severance process in the Netherlands as part of a plan to cut around 10,300 jobs worldwide.

The oil company is under pressure to rein in costs as a slump in oil prices has hit its profits.

“Shell can confirm it has introduced a selective voluntary severance programme in The Netherlands,” a spokesman said.

The programme could be rolled out elsewhere and staff would be notified before external announcements are made, he said.

Shell has around 11,000 directly employed staff in the Netherlands. read more

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Shell offers well-paid office staff redundancy, hundreds of jobs to go

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20 April 2016

Shell is offering office personnel earning more than €75,000 a voluntary package to leave the company, the AD says on Wednesday, quoting union and company sources.

The company hopes this will enable it to cut the workforce by hundreds of jobs without launching an official reorganisation, the paper says.

The offer has been made to staff at Shell’s training and R&D centres in Rijswijk and Amsterdam as well as at the Shell HQ in The Hague and at NAM, Shell’s natural gas joint venture with ExxonMobil. read more

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SHELL TO SLASH 2,000 NETHERLANDS JOBS

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by Janene Pieters: 20 April 2016

Shell is cutting some 2 thousand jobs in the Netherlands. The oil company aims to get rid of 15 to 20 percent of the abut 10 thousand employees working in Amsterdam and Rijswijk as part of a cost-cutting plan to cope with the low oil prices, AD reports.

The company launched a voluntary departure scheme. Office staff with a salary of 75 thousand euros per year or higher can resign voluntarily for compensation. Employees can register for voluntary departure until July 1st.

According to union FNV, Shell is hoping to avoid an official reorganization with the voluntary departure scheme. “Shell first wants to see whether enough employees volunteer”, director Egbert Schellenberg said to the newspaper.

Employees working at the Pernis refinery and the petrochemical complex in Moerdijk do not qualify for the voluntary departure scheme as those two branches already face staff shortages. read more

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Shell moving some jobs from New Orleans to Houston

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By Jennifer Larino, NOLA.com | The Times-Picayune: 18 APRIL 2016

Shell will relocate some jobs from New Orleans to Houston as it moves forward with plans to cut its global workforce by 10,000 employees and contractors. The company started cutting jobs last year in response to low oil prices.

Details are sparse on how the global cuts affect the roughly 1,900 workers based in One Shell Square in downtown New Orleans. Shell says it does not provide layoff counts by region. Workers close to the situation have reported that jobs may be moving to Houston in addition to cuts. They asked not to be named to protect their jobs. read more

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Shell Could Save $4.5 Billion by Matching BP Productivity: Chart

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Screen Shot 2016-03-15 at 10.34.57By Rakteem Katakey: April 12, 2016

Royal Dutch Shell Plc could reduce operating costs by as much as $4.5 billion a year if its employees matched the productivity of BP Plc, according to Morgan Stanley.

Shell’s output per employee in oil and gas exploration and production was 26 percent lower than BP’s last year, meaning Europe’s biggest oil company has scope to cut about 9,000 jobs in that division, Morgan Stanley analysts including Martijn Rats wrote in a report dated April 8. read more

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Former Centrica boss in talks to buy Shell oil assets

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By Jillian Ambrose, business reporter: 27 MARCH 2016

A $5bn investment fund, led by former Centrica boss Sam Laidlaw, is in talks to snap up assets from Shell’s $30bn oil and gas divestment drive.

Neptune Oil and Gas was launched last summer to hunt for oil and gas bargains, and has confirmed that it is in talks with Bank of America Merrill Lynch to take advantage of Shell’s ambitious sales plans.

A spokesman for the fund said that Shell’s assets are being considered as part of its wider strategy to target large-scale investment in distressed assets in the North Sea, North Africa and South East Asia. read more

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Shell may offload its North Sea operations

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Ben Chu: 27 March 2016

Shell is reportedly exploring a sale of North Sea oil assets. The oil major, which has completed its $35bn (£25bn) merger with BG, has begun sounding out buyers for operations. 

Shell’s boss, Ben van Beurden, has already pledged to divest $30bn (£21.5bn) of assets globally and has described the North Sea as “old and mature”.

The Sunday Times reported that there have been early talks with Neptune Oil & Gas, which was set up by Sam Laidlaw, the former boss of Centrica. About 2,500 of Shell’s 7,500 employees work in the North Sea. BG was created in 1997 when British Gas divested Centrica. read more

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Shell considers North Sea sell-off in bid to raise $30bn

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Written by Rita Brown – Sunday 27/03/2016

Shell today confirmed it was considering a North Sea sell-off in a bid to balance its financial books after completing its $35billion mega takeover of BG.

The operator is currently looking to raise $30billion from asset sales from its global portfolio.

A company spokesperson said its North Sea assets could make-up part of the re-shuffle.

The spokesman said: “A review of all assets, including those in the North Sea, is under way as part of our commitment to the $30bn asset sale.” read more

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Shell weighs North Sea assets for potential sales

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Pilita Clark in London: 27 March 2016

Royal Dutch Shell has confirmed it is reviewing the case for selling some of its North Sea assets in the wake of its £35bn takeover of rival oil and gas producer, BG Group.

Shell has nearly 2,500 employees in the North Sea, where it has operated more than 33 offshore installations.

FULL FT ARTICLE

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Shell prepares North Sea sale after BG tie-up

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Danny Fortson: Published: Sunday 27 March 2016

SHELL has quietly begun sounding out buyers for parts of its sprawling North Sea operations amid a slump that has seen the industry shed tens of thousands of jobs.

Europe’s biggest oil company strengthened its presence in the basin just last month when it completed its blockbuster £35bn takeover of rival BG.

Chief executive Ben van Beurden is under pressure to justify the price and has pledged to sell up to $30bn (£21bn) of assets. Sources close to the situation said Shell has no plans to exit completely but could dramatically shrink its footprint.

It is understood that Bank of America Merrill Lynch, which has been hired to lead the process, has held early talks with potential buyers including Sam Laidlaw, the former Centrica boss who last year launched the $5bn Neptune Oil & Gas fund to buy energy assets. read more

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Shell boss takes £300k pay cut after plummeting oil price led to 10,000 job cuts

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By EMILY DAVIES FOR THE DAILY MAIL: 11 March 2016

Shell’s boss has taken an 8 per cent pay cut after a year in which the firm was hit by plummeting oil prices and cut 10,000 jobs.

Chief executive Ben van Beurden’s salary fell from £4.4m in 2014 to £4.02m in 2015.

His total pay and benefits for the past year was £4.3m, a whopping fall from £18.7m in 2014 – though this huge pay packet was largely due to a one-off contribution to his pension following promotion to the top job.

Van Beurden’s pay is in sharp contrast to BP boss Bob Dudley who saw his 2015 pay rise almost a fifth to £13.8m – despite overseeing the company’s worst ever results with losses of £3.6bn. read more

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Shell Trinidad sends workers home

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News of the layoffs was reported by Guardian Media Ltd’s television outlet, CNC3, after a memo sent out to staff on Tuesday by Luis Prado, country chairman.

Prado wrote: “For a number of years, we have implemented many measures to try to improve and sustain the plant’s ability to be more competitive in the Caribbean lubricants market. However, after doing a significant regional portfolio review, we have made the difficult decision to close the Point Lisas plant.”

Prado said the decision will affect 50 Shell employees and about 30 contractors. He said the plant will cease operations in June and will be sold as an industrial facility. read more

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Job cuts put Shell’s Perth HQ move in shade

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Insiders expect a couple of hundred positions to be cut once Shell merges its Australian corporate function with BG’s presence, which is centred on the QGC division in Queensland.

Shell chief executive Ben van Beurden, who will attend the LNG18 conference in Perth in April, has flagged 2800 post-takeover job cuts worldwide.

“Today we will see the birth of what will be undoubtedly the best company in our industry,” Mr van Beurden said on Monday, when the takeover was completed.

Shell spokesman Paul Zennaro yesterday declined to comment on the number and timing of cuts in Australia, where the enlarged Anglo-Dutch giant has a workforce of 2500 to 3000. read more

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BG Group, Gas-Shipping Pioneer, Trades Final Time Before Merger

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Rakteem Katakey: Bloomberg.com: February 11, 2016

BG Group Plc, pioneer of natural-gas shipping, will trade on stock exchanges for the last time on Friday, 19 years after it was created.

The shares will delist Monday as BG becomes a fully owned unit of Royal Dutch Shell Plc following the industry’s biggest acquisition in more than a decade. The stock has increased ninefold since 1997, when former state monopoly British Gas Plc split its exploration and production arm from retail. Shell gained just 15 percent in the period, while BP Plc declined 4.4 percent.

The BG takeover will catapult Shell into second place among the world’s most valuable public oil companies, behind Exxon Mobil Corp. Shell plans to run BG as a subsidiary initially, merging the two companies over the course of a year, according to two officials with direct knowledge of the matter. BG’s assets, including gas projects from Australia to Kazakhstan, will help the Anglo-Dutch energy giant ride out the oil-price slump. read more

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BG Group posts profit ahead of Shell takeover

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By Tara Cunningham, Business Reporter: 9:16AM GMT 05 Feb 2016

In its final results ahead of its landmark merger with Shell, BG Group has reported a pre-tax profit of $2.98bn, compared with a $2.3bn loss the previous year.

FTSE 100-listed BG is due to be absorbed into the Anglo-Dutch giant by the middle of the month after its shareholders voted overwhelmingly in favour of a £40bn takeover.

Screen Shot 2016-02-05 at 11.21.44In its last year as standalone company, BG managed to limit the impact from plunging oil prices to a 16pc drop in revenue for the year, racking up sales of $16.2bn. read more

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Shell to cut 10,000 jobs as profits plunge by 80 per cent

Screen Shot 2016-02-05 at 11.00.27Tom Bawden Environment Editor: 5 FEB 2016

Shell yesterday confirmed plans to cut 10,000 jobs now that its takeover of rival BG Group is set to go through, and raised the prospect of further redundancies, as it reported an  80 per cent slump in profits to a 13-year low.

Two days after BP announced its biggest-ever annual loss, Shell revealed that its profits had fallen to $3.8bn (£2.6bn) last year, from $19bn in 2014. The industry has been rocked by a sustained slump in the oil price, from $115 a barrel in the summer of 2014 to $35.41 yesterday.  read more

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Shell’s Profit Down 56 Percent on Depressed Oil Prices

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Screen Shot 2016-01-14 at 00.11.12Shell’s Profit Down 56 Percent on Depressed Oil Prices

By STANLEY REEDFEB. 4, 2016

LONDON — Royal Dutch Shell became the latest big energy company to file a damage report on the impact of depressed oil prices on Thursday, saying that its adjusted profit fell 56 percent in the fourth quarter of 2015 compared to a year earlier.

Shell said earnings adjusted for inventory changes were $1.8 billion, down sharply from $4.2 billion in the comparable period of 2014.

For 2015, Shell’s earnings fell 80 percent to $3.84 billion, compared to $19 billion in 2014. read more

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Shell Profits Plunge By 80% Amid Oil Slump

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Shell is pressing ahead with a £36bn ($52bn) merger with exploration group BG. It has said 10,000 jobs will go across the two companies as a result. The deal has been approved by shareholders and will complete later this month.

The industry has been hammered by the collapse in the world energy market which has seen the price of a barrel of Brent crude dive by three-quarters from $115 in the summer of 2014 to around $30 at the start of this year.

Mr van Beurden said Shell was seeing “substantial changes”, slashing costs and investment in response to the slump – and warned that more cuts could come. read more

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Shell and BP brace for profit massacre

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THE carnage unleashed by the crash in crude prices will be laid bare this week when Britain’s biggest energy companies unveil plunging profits, billions in write-downs and confirm thousands of job losses.

FULL ARTICLE

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Shell gets green light for merger with BG Group to create world’s biggest liquefied gas trader

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By LAURA CHESTERS FOR DAILY MAIL: 28 JAN 2016

Royal Dutch Shell’s mega-merger with gas giant BG Group looked set to be approved yesterday, creating the world’s biggest liquefied gas trader and boosting bankers’ bonuses.

The £35billion deal got the go-ahead from Shell investors yesterday with 83 per cent of those voting backing the deal.

Today BG group will announce the result of its shareholder vote. For the deal to go ahead more than 75 per cent must approve it.

The completion of the deal – expected next month – will see a windfall of £106million of fees for various advisors on the deal including £76million to be shared by top investment banks including Bank of America Merrill Lynch, Goldman Sachs and Rothschild. read more

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Pink Slips at Shell Oil

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Shell Oil must cut all Contractors from WIPRO, ACCENTURE AND IBM since these contractors are all under performers and these Wipro, Accenture and IBM Contractors are not having relevant experience but they bring all freshers/ Zero experienced people to work on IT projects and claim huge hourly rate that is equal to be paid for highly experienced people.

These WIPRO, ACCENTURE AND IBM companies including its PMO staff must be fired immediately to save future investments on business improvements.

The work/task that can be completed in one day will be completed in 10 days by these Contractors since they get paid for all these days and Looks like Shell Oil is paying for under performed employees that needs to be paid for highly performed employees. read more

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SHELL JOB CUTS

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POSTED ON OUR SHELL BLOG: 20 JAN 2016

As one of the many let go by Shell in the recent cull in November I was not impressed by the way senior leaders clung to their jobs.

This is now going to get even worse in my opinion as Shell announces more job losses.

Even the inmates will be turning on each other as there is nobody left in the asylum and yet strangely the senior leaders still remain in place.

The same senior leaders who got us into this mess seem to think they are the best to get Shell out of it. Good luck boys, its great watching from the outside for a change. read more

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Shell to cut 10,000 jobs in drive to slash costs

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Screen Shot 2015-12-23 at 09.03.45By Sara SjolinPublished: Jan 20, 2016 3:42 a.m. ET

Royal Dutch Shell PLC RDSB, -4.82% RDS.B, -1.28% plans to cut 10,000 jobs in an effort to further reduce costs amid a severe slump in oil prices. The Anglo-Dutch energy company said in its trading update on Wednesday it had slashed operating costs by $4 billion in 2015 and that it expects further reductions of $3 billion in 2016. Shell also said profit fell by as much as 50% in the fourth quarter, sending the shares down 4.2%. read more

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BP to Cut 4,000 Jobs as Oil Prices Continue to Fall

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By STANLEY REEDA version of this article appears in print on January 13, 2016, on page B3 of the New York edition

LONDON — The persistent plunge in oil prices has translated into a new round of industry job cuts.

The British oil giant BP said on Tuesday it would eliminate 4,000 of the approximately 24,000 positions in its exploration and production units this year. That would be in addition to about 4,000 jobs that the company cut last year, when it trimmed its work force to about 80,000. read more

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Shell’s BG Deal Gets Backing of Shareholder Advisory Firm

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By Rakteem Katakey: Jan 8, 2016: Bloomberg.com 

Royal Dutch Shell Plc has won the backing for its takeover of BG Group Plc from a body that advises many of its largest shareholders.

Shell’s biggest ever deal has “compelling strategic rationale” and “significant positive economics to be realized within a relatively short time frame,” Institutional Shareholder Services said in a report dated Thursday. “Support for this transaction is warranted.”

Shell is on the brink of pulling off its biggest acquisition, but oil’s collapse to less than $35 a barrel from about $55 on the day the deal was announced in April has prompted some investors to question whether the company is paying too much. The energy producer has justified the deal by saying it would boost its ability to maintain dividends, make it the world’s largest LNG producer and give it new assets from Australia to Brazil. read more

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REPORT CRITICAL OF SHELL OVER SWITCH IN NORTH SEA HELICOPTER FIRMS

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Screen Shot 2015-11-20 at 08.55.47See Air Transport Feedback No116 at www.chirp.co.uk

The Confidential Human Factors Reporting Programme is critical of Shell giving helicopter operator Dancopter short notice of contract termination as they move the flying to CHC Helicopters threatening high pilot stress and a disincentive to report ill that they liken to Germanwings. 

CHIRP don’t name the companies but they are discussed at www.pprune.org in a thread entitled Shell Southern North Sea Contract 2012 which stated when Shell dropped Bristow (who had the contract for 14 years) for Dancopter.   read more

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Royal Dutch Shell – Time to Pull the Plug

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Shell is expected to make some of the biggest announcements, as it tries to create a leaner structure following the $70 billion acquisition of BG Group.

In fact, The Hague-based group will look to liquidate $30 billion worth of assets once the megadeal is finalized. Shell is already believed to have sold properties worth around $20 billion during the 2014-2015 timeframe. It’s part of the company’s efforts to strengthen its financial position and earn considerable cash flow for the shareholders in the years to come. Toward this goal, Shell has also announced plans to cut 6,500 jobs (or 7% of its global workforce).  read more

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