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Posts under ‘Oil Company Profits’

Shell chief’s pay soars to £10m ($15.6 million)

Russell Lynch 15 March 2012 Royal Dutch Shell chief executive Peter Voser saw his total pay packet more than double in 2011, a year when shareholders in the oil super-major had to make do with flat dividend payouts. The blue-chip’s annual report showed Voser’s total compensation last year hit €11.6 million (£10.1 million), boosted by [...]

Shell Gannet Alpha platform in trouble again

By John Donovan It seems that Shell’s Gannet Alpha platform has had another close call. On Monday workers were evacuated and production shut down after natural gas began seeping out from under the platform. All of the ingredients for a disastrous explosion, of the kind that occurred in the Gulf of Mexico, which almost brought [...]

Debate continues on Big Oil’s big profits

February 7, 2012, 2:23 p.m The five so-called “super major” oil companies — Exxon Mobil, Royal Dutch Shell, ConocoPhillips, Chevron and BP– have just wrapped up their fourth quarter earnings reports, but not without inspiring disdain over how they made those billions in profits and over what they were doing with them. Under the title [...]

Shell CEO Peter Voser €6.75 million salary plus €3.5 million bonus

I doubt that Mr. Voser will emulate Network Rail bosses in the face of a widespread public backlash against Fat Cat bonuses and waive his Fat Cat bonus, as they have, to improve safety? Fat chance. By John Donovan According to a report filed on Monday with the U.S. Securities & Exchange Commission, Peter Voser, [...]

Shell pledges to spend, spend, spend – but gamble leaves City cold

The Times: 3 February 2012 Tim Webb Energy Editor Ambitious plans to boost growth will cost too much and knock Shell off its top spot, the City warned yesterday. Unveiling disappointing results, the Anglo-Dutch oil group further unnerved investors when it said it planned to spend even more heavily on new oil and gas projects. [...]

Shell reminds us of the moral bankruptcy of the corporate elite

By STEVE HAWKES, Business Editor: Published: 3 February 2012 SHELL is coining it as pump prices soar — after yesterday unveiling an £18BILLION profits bonanza. The oil giant sparked outrage by boasting it raked in almost £2.2million an HOUR last year. Hard-up motorists — now facing forecourt prices that are almost back to record levels [...]

Shell fears it could be driven out of the UK over North Sea taxes

Shell warned the government not to tax it out of the UK, as it sketched out ambitious growth plans alongside an underwhelming set of results. Chief executive Peter Voser said the Anglo-Dutch oil company was aiming to pump 4bn barrels of oil per day (bpd) by 2017, compared to 3.2bn today. Net spending will rise [...]

Oil price could fall to $70 in 2012 amid volatility, Shell warns

Oil prices could fall to $70 a barrel during 2012, from current levels above $110, as high volatility in the economy and energy markets becomes “a fact of life”, Royal Dutch Shell executives said. By Emily Gosden: 3 February 2012 The oil giant unveiled its 2011 results on Thursday, with a 54pc jump in full-year [...]

Union fury as Shell closes pension scheme despite making £18bn profit

Fuel giant Shell has been accused of “moral bankruptcy” for announcing profits of £18billion – just a month after closing its final salary pension scheme for new recruits. Fuel giant Shell has been accused of “moral bankruptcy” for announcing profits of £18billion – just a month after closing its final salary pension scheme for new [...]

Shell accused of ‘moral bankruptcy’

Terry Macalister guardian.co.uk, Thursday 2 February 2012 17.44 GMT Shell has been accused of “moral bankruptcy” by unions after unveiling a 54% rise in full-year profits less than a month after shutting its final salary pension scheme to new employees in Britain. The oil company reported global annual earnings of $28.6bn (£18bn) – more than [...]

Is Shell CEO Voser jinxed by the famous Brinded spell?

POSTING ON SHELL BLOG 2 FEBRUARY 2012 BY ” AN OBSERVER OF SHELL” Is Voser now also being jinxed by the famous Brinded spell? This decent and down to earth Swiss financeman is trying to tell the world that Shell will increase production from North Sea fields by extending the life of these fields (Sky [...]

Abrupt end to live Peter Voser Interview on Sky News

Sky Sunrise Interview Thursday 2 February 2012 Eamonn Holmes interviewing Royal Dutch Shell CEO Peter Voser Eamonn Holmes Breaking news coming in from the City… Shell the petroleum giant reporting profits of more than £18 billion pounds.. 54 per cent up on last year… Lets go to their Chief Executive Peter Voser, he’s there in [...]

Shell eyes big growth, but at big cost

Thu Feb 2, 2012 3:45am EST * Fourth quarter results disappoint * Anaemic dividend rise * Higher investments seen but returns weaken * Shares drop By Tom Bergin LONDON, Feb 2 (Reuters) – Royal Dutch Shell said it was targeting aggressive growth in the coming years, with the start-up of big new projects and higher [...]

Shell Earnings Decline on Lower Gas Prices

By Eduard Gismatullin – Feb 2, 2012 8:02 AM GMT Royal Dutch Shell Plc (RDSA), Europe’s biggest oil company, expects to raise its dividend this year for the first time since 2009 as new projects generate more cash. Shell plans net capital investment of $30 billion, with cashflow from operations in 2012-2015 expected to be [...]

Shell’s quarterly adjusted earnings up 18%

Feb. 2, 2012, 2:39 a.m. EST By Alexis Flynn LONDON (MarketWatch) — Royal Dutch Shell PLC Thursday posted an 18% rise in adjusted profit for the fourth quarter, but Europe’s largest company by market capitalization still missed analyst expectations, as poor refining margins and lower natural gas demand crimped some of the benefits of higher [...]