North Sea sale move after Shell profit warning
Royal Dutch Shell plans to put three oil and gas assets in the North Sea up for sale as it seeks to ramp up disposals and focus on improving shareholder returns after a shock profit warning. The Anglo-Dutch company has been facing increasing investor pressure to rein in spending as costs rise and prospects for oil prices wane.
by PERRY GOURLEY: Saturday 15 February 2014
Royal Dutch Shell plans to put three oil and gas assets in the North Sea up for sale as it seeks to ramp up disposals and focus on improving shareholder returns after a shock profit warning.
The Anglo-Dutch company has been facing increasing investor pressure to rein in spending as costs rise and prospects for oilprices wane.
Glen Cayley, the company’s vice-president of its upstream business in Europe, has spoken to staff about the proposed sell-off of its Anasuria, Nelson and Sean platforms in the British part of the North Sea. Together, the assets account for about 2 per cent of UK’s oil production. Shell said that despite the sale move, it remained committed to the North Sea.
Shell, attempting to win round investors after a major profit warning earlier this year, is targeting $15 billion (£9bn) of disposals over the next two years.
by PERRY GOURLEY: Saturday 15 February 2014
Royal Dutch Shell plans to put three oil and gas assets in the North Sea up for sale as it seeks to ramp up disposals and focus on improving shareholder returns after a shock profit warning.
The Anglo-Dutch company has been facing increasing investor pressure to rein in spending as costs rise and prospects for oilprices wane.
Glen Cayley, the company’s vice-president of its upstream business in Europe, has spoken to staff about the proposed sell-off of its Anasuria, Nelson and Sean platforms in the British part of the North Sea. Together, the assets account for about 2 per cent of UK’s oil production. Shell said that despite the sale move, it remained committed to the North Sea.
Shell, attempting to win round investors after a major profit warning earlier this year, is targeting $15 billion (£9bn) of disposals over the next two years.
Royal Dutch Shell: Mismanagement Of Big Oil In 2013
Charles Constantinou: Feb. 14, 2014
Shell’s performance was particularly disappointing, and in my opinion it reflects a mixture of management decisions, which are in conflict as if the engineers and technical specialists of the company do not seem to agree with their own economists and/or accountants, which leads to huge losses in particular projects, huge underestimates of investment requirements and frequent announcement of changes in decisions for particularly important projects. The most disappointing change is Shell’s latest decision not to proceed with previous plans to build a major facility in Louisiana that would turn natural gas into synthetic diesel, as reported in my study“Expressway to US Energy- Independence GTL Diesel” of June 2012.
Shell Appoints new Legal Director
Shell Legal Director, Donny Ching
FROM LAW CAREERS NET: Prominent in-house appointments have made the news this month, with Royal Dutch Shell naming Donny Ching as its new legal director… AsThe Lawyer reported, Ching’s appointment at Shell followed theunexpected departure of legal director Peter Rees QC. Ching leaves his current role as general counsel for Shell’s project and technology group; to date, he has held positions within the business in Hong Kong, London, Qatar, Singapore and, most recently, the Netherlands.
Shell has named Donny Ching as its new legal director, replacing Peter Rees QC, who stepped down from the role in a shock move earlier this year. Ching, who had been project and technology group general counsel at the company, takes over with immediate effect.
The TRUTH will set you FREE.
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