Oct 31st, 2009
by John Donovan.
The Sunday Times
November 1, 2009
The era of the oil industry mega merger is over, according to the chief executive of BP.
Tony Hayward said that there is no industrial logic at all to the type of big-ticket takeovers that transformed the industry a decade ago. The industry will be defined instead by partnerships between the big companies and the new generation of state-owned rivals and governments of resource-rich countries.
We need access to new resources and we need access to new customers. Combining with another oil giant gives us neither, he said in an interview with The Sunday Times. read more
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Oct 31st, 2009
by John Donovan.
LONDON (Dow Jones)--The Norwegian Petroleum Directorate Friday said a new well drilled at Ormen Lange indicates the gas field's resources could be lower than previously hoped.
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Oct 31st, 2009
by John Donovan.
BP was dealt a bitter blow last night when American regulators fined the oil group a record $87 million (£53 million) for more than 700 safety violations at the Texas refinery where an explosion killed 15 people and injured 170 in 2005.
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Oct 30th, 2009
by John Donovan.
HOUSTON, Oct 30 (Reuters) – Motiva Enterprises (RDSa.L) expects to finish the 325,000 barrel per day expansion of its 285,000 bpd refinery in Port Arthur, Texas, in the first quarter of 2012, CEO Robert Pease said Friday.
“We are seeing this through to completion,” Pease told a refining conference. “If you haven’t planned on a 325,000-barrel expansion in refining capacity, then pencil this in for the first quarter of 2012.”
(Reporting by Erwin Seba; Editing by Walter Bagley) read more
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Oct 30th, 2009
by John Donovan.
"A broader reorganization is now underway, and we expect a 10% headcount reduction in the redesigned divisions and functions, mostly in management and non-operational positions," Simon Henry, Shell's chief financial officer, said during a conference call yesterday. Henry said he cannot rule out further staff cuts in other divisions of the company.
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Oct 30th, 2009
by John Donovan.
Daily Mirror
By Clinton Manning 30/10/2009
Oil giant Shell is slashing 5,000 jobs after profits plunged 73%.
Uk staff are among those facing the chop as new boss Peter Voser imposes savage cuts.
Voser, just 121 days into the job, has already sacked 150 managers.
Now 15,000 staff in oil fields and head offices are being forced to reapply for their jobs, with rejects getting the boot by the end of the year.
Profits fell to £1.83-billion between July and September as it suffered from falling oil prices and the world recession. read more
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Oct 30th, 2009
by John Donovan.
From a Shell Insider
Email sent today to all Shell Stanlow Refinery employees from Frank Willsdon (right), General Manager: Stanlow, UK
Subject: Stanlow Strategic Review Announcement
Dear colleagues,
Further to the townhall meeting and team briefings held earlier today, I can confirm that we are in negotiations with Essar for the potential sale of Stanlow, Heide and Harburg refineries. For the time being Shell will not be holding discussions with any third party other than Essar, although this does not guarantee a sale and it is too early for Shell to confirm a deal or comment on timescales.
Given this latest development in the strategic review, we are now going to establish a UK staff consultation forum in readiness for consultation. The Consultation Forum is being established for employees who may be affected by the potential sale of the Stanlow refinery and associated local marketing businesses – this includes some employees who are only partially impacted and may not be included in any transfer. Electoral Reform Services (ERS) will be administering the process of nomination and election of the forum representatives on our behalf and will be contacting you in the coming days. Those employees covered by the Collective Bargaining agreement in Stanlow will not be required to elect representatives as they will be nominated from within the current Shop Stewards committee and will not therefore receive the email from ERS. read more
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Oct 30th, 2009
by John Donovan.
About 20 civilians and two gardaí were hurt in the incident. The GSOC decision was referred to the Garda Commissioner last July. An ombudsman spokesman said yesterday it had not had notification on the outcome.
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Oct 30th, 2009
by John Donovan.
WASHINGTON -- Staff at the Securities and Exchange Commission Friday issued new guidance on how the agency interprets oil and natural gas companies' reserves accounting rules. The guidance, sought by industry for years, allows companies such as Royal Dutch Shell, ConocoPhillips and Chesapeake Energy Corp. to officially book major reserves that previously haven't been permitted by the SEC.
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Oct 30th, 2009
by John Donovan.
As part of the plan, 15,000 Shell employees have to re-apply for a smaller pool of jobs, leaving many in limbo until selections are made.
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Oct 30th, 2009
by John Donovan.
OSLO, Oct 30 (Reuters) - Royal Dutch Shell (RDSa.L) and its partners may be forced to cut their reserve estimates for Norway's giant Ormen Lange gas field, the Norwegian Oil Directorate said on Friday.
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Oct 30th, 2009
by John Donovan.
HOUSTON An American whose secret recordings have placed him at the center of a $27 billion lawsuit against Chevron in Ecuador is a convicted drug trafficker, records show, throwing another complication into a case already tainted by accusations of bribery and espionage.
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Oct 30th, 2009
by John Donovan.
Fri Oct 30, 2009 4:12am EDT
OSLO, Oct 30 (Reuters) – Royal Dutch Shell (RDSa.L) has made a gas discovery at Norway’s Ormen Lange field, but there is renewed uncertainty about the field’s overall potential, the Norwegian Petroleum Directorate said on Friday.
“The result of this appraisal well will be incorporated into a major interpretation task aimed at providing a better resource estimate for the Ormen Lange field. It is uncertain whether the original upside potential can be realised,” the directorate said in a statement. Shell is the operator of production licence 209 with a 15 percent interest, with Norway’s StatoilHydro (STL.OL) holding a 40 percent interest, state-owned Petoro 35 percent and ExxonMobil (XOM.N) 10 percent. read more
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Oct 30th, 2009
by John Donovan.
Fri Oct 30, 2009 5:15am EDT
LONDON, Oct 30 (Reuters) – Royal Dutch Shell Plc (RDSa.L) (RDSb.L) is to delay investments in information technology systems at its downstream oil refining and fuel marketing unit to cut costs, a Shell protestors’ website said on Friday, citing a leaked internal email.
The Royaldutchshellplc.com website said U.S., Brazil, Argentina and Chile units would be affected.
No one at Shell was immediately available for comment.
(Reporting by Tom Bergin; Editing by Greg Mahlich) read more
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Oct 30th, 2009
by John Donovan.
Fri Oct 30, 2009 5:15am EDT
LONDON, Oct 30 (Reuters) – Royal Dutch Shell Plc (RDSa.L) (RDSb.L) is to delay investments in information technology systems at its downstream oil refining and fuel marketing unit to cut costs, a Shell protestors’ website said on Friday, citing a leaked internal email.
The Royaldutchshellplc.com website said U.S., Brazil, Argentina and Chile units would be affected.
No one at Shell was immediately available for comment.
(Reporting by Tom Bergin; Editing by Greg Mahlich) read more
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Oct 30th, 2009
by John Donovan.
The Herald
- Shell says that demand for oil will not recover quickly
Mark Williamson
Published on 30 Oct 2009
Royal Dutch Shell is set to shed up to 250 jobs in Aberdeen as part of a global cull of 5000 posts which it unveiled after announcing a big drop in third quarter profits on the back of falling oil prices.
Warning that global demand for oil would not recover quickly, the oil and gas giant said it would make the job cuts as the next stage of a drive initiated by new chief executive Peter Voser to boost profitability by simplifying the giant business.
This has already resulted in 150 out of 750 senior managers losing their jobs. read more
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