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Posts under ‘The Independent’

Shell seeks to draw a line after fourth cut in reserves

FROM OUR ARCHIVES… Shell seeks to draw a line after fourth cut in reserves By Michael Harrison, Business Editor 25 May 2004 Royal Dutch-Shell, the crisis-torn oil giant, yesterday cut its proven reserves for the fourth time this year but then sought to reassure the City that it had drawn a line at last under [...]

Shareholders shake Shell with pay vote

23 May 2012 Shell became the latest company to receive a bloody nose yesterday, as more than a tenth of the oil giant’s investors failed to approve the pay awards of its top-level executives. Despite Shell reporting a 54 per cent jump in profits last year, just over 9 per cent of investors voted against [...]

India success makes Cairn a worthy hold

FROM OUR ARCHIVES… Combined with an oil price higher than ever, Cairn looks to be sitting very pretty. Much to the embarrassment of Shell, of course, which sold the Rajasthan field to Cairn two years ago for just £4m. 18 May 2004 The oilfields of India are proving to be more like gold to Cairn [...]

BP and Shell fight over African oil find

Italian search for partner to drill massive field off Mozambique attracts biggest energy players Mark Leftly: SUNDAY 18 MARCH 2012 BP and Royal Dutch Shell are looking at a $4bn (£2.5bn) stake in a gas field in Mozambique, a sale that would confirm East Africa as the hottest growth area in world energy. Eni, the [...]

Shell oil protesters climb National Gallery

Graphic from Greenpeace website Tuesday 21 February 2012 Environmental campaigners climbed to the roof of the National Gallery today to stage a protest against energy giant Shell. They scaled the gallery in London’s Trafalgar Square, where an evening reception is being held for Shell, saying they wanted to demonstrate against plans to drill for oil [...]

Europe is too emotional about fracking, says Shell chief

Tom Bawden: Friday 03 February 2012 Shell’s chief executive, Peter Voser, called on Europe for a less “emotional” response to fracking, as he outlined plans to accelerate the oil giant’s use of the controversial technology used to release hydrocarbons from rocks. Mr Voser said Shell would invest $6bn (£3.8bn) to appraise, explore and develop gas [...]

Bloody nose for OFT in row over tobacco price-fixing

Tom Bawden Tuesday 13 December 2011 The Office of Fair Trading suffered a setback yesterday after a consortium of leading tobacco and retail groups overturned a previous ruling of unlawful pricing. Imperial Tobacco, the maker of Golden Virginia rolling tobacco and Superkings, saw its £112.3m penalty reversed, and Co-op, Morrisons, Asda and Royal Dutch Shell [...]

Oil exploration under Arctic ice could cause ‘uncontrollable’ natural disaster

Any serious oil spill in the ice of the Arctic, the “new frontier” for oil exploration, is likely to be an uncontrollable environmental disaster despoiling vast areas of the world’s most untouched ecosystem, one of the world’s leading polar scientists has told The Independent. By Michael McCarthy, Environment Editor: Tuesday, 6 September 2011 Any serious [...]

Shell admits liability for huge oil spills in Niger delta

…amount leaked into the local environment could be as much as 10 million gallons. …”one of the most devastating oil spills the world has ever seen…” By Richard Hall: Thursday, 4 August 2011 Oil company Shell could be forced to pay hundreds of millions of dollars after accepting responsibility for two devastating oil spills in [...]

Secret memos expose link between oil firms and invasion of Iraq

By Paul Bignall Tuesday, 19 April 2011 Plans to exploit Iraq’s oil reserves were discussed by government ministers and the world’s largest oil companies the year before Britain took a leading role in invading Iraq, government documents show. Iraq’s burgeoning oil industry: Click HERE to upload graphic (160k) The papers, revealed here for the first [...]

UK held talks with oil firms before Iraq invasion -paper

LONDON, April 19 | Mon Apr 18, 2011 10:29pm EDT (Reuters) – Britain discussed plans to exploit Iraq’s oil reserves with some of the world’s biggest oil companies five months before it joined the United States in invading the country, the Independent newspaper said on Tuesday. Citing documents it said were obtained under a Freedom [...]

BP executives may face jail for manslaughter over Gulf disaster

Tony Hayward faced a barrage of criticism when US politicians claimed that he stonewalled their questions last year By David Usborne in New York Wednesday, 30 March 2011 Managers of BP could face manslaughter charges when prosecutors in the United States finally conclude their criminal investigation into the Deepwater Horizon explosion in the Gulf of [...]

Shell’s Voser given pay rise of 62 per cent

??By Sarah Arnott Wednesday, 16 March 2011 Peter Voser, the chief executive of Shell, saw his earnings rocket by 62 per cent to $7.3m (£4.5m) last year. The increase reflected his first full year in the top job, but the majority of it came from bonus payments after the oil giant beat its targets for [...]

City awaits Royal Dutch Shell’s strategic review

Sunday, 13 March 2011 Oil giant Royal Dutch Shell will announce a strategic review on Tuesday. The market will be looking for news on upcoming projects, cash flow targets and potential disposals. Analysts at Credit Suisse said that 2011 is a “transition year”, with a slew of mega-projects due to start in 2012. The City [...]

Shell oil exploration threatens one of the world’s great wonders

Anglo-Dutch conglomerate applies for permit to drill just 30 miles off World Heritage-listed coral reef in Western Australia PHOTO ALAMY: The Ningaloo Reef, under threat from Shell’s plans to drill for oil nearby By Kathy Marks Wednesday, 9 March 2011 Shell Oil has come under heavy criticism for planning an oil and gas drilling site [...]