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| Atty. Emiterio C. Manibog |
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| Atty. Joy Anne C. Leong-Pambid |
(Reuters) – London-listed oil companyRoyal Dutch Shell (RDSa.L) said board-member Josef Ackermann would retire as a non-executive director at its annual meeting in May. Shell’s annual meeting is scheduled for May 20. The company is holding a management day on March 13, when it will attempt to win round investors after a major profit warning in January.
Following first steel cutting in late 2012, Shell’s Prelude Floating Liquefied Natural Gas (FLNG) unit continues to take shape in Samsung’s Geoje shipyard in Korea, Douglas Westwood (DW) said in its Monday report.
In 2012 Shell won a license to start commercial production at the Yuzivska gas field in eastern Ukraine. A year ago then Royal Dutch Shell CEO Peter Voser signed a contract to drill for natural gas in Ukraine.
Royal Dutch Shell (NYSE: RDS-A) has finally found a buyer for its downstream assets in Australia, as the Anglo-Dutch oil major embarks on a major restructuring of its global refining business and plans to sell billions of dollars worth of assets over the next two years. New CEO Ben van Beurden has identified the company’s global downstream business as one of two key business segments — along with its North American shale oil and gas business — that will be restructured in coming years.Basically, Shell is cutting back. It no longer is going to tell investors how much it plans to produce in the future. Instead, it will focus on generating cash flow, at least partly by selling off existing programs. …all of the major oil companies are reporting divestment programs. Does selling assets really solve the oil companies’ problems? What the oil companies would really like to do is raise their prices, but they can’t do that, because they don’t set prices, the market does–and the prices aren’t high enough. And the oil companies really can’t cut costs. So instead, they sell assets to pay dividends, or perhaps just to get out of the business.
THE controversial Corrib gas field is expected to come onstream by “mid 2015.” Gas was originally expected to flow from the Mayo field back in 2003. The project is now likely to be 12 years behind the original schedule. The cost of developing the field could be four times the initial estimate of €800m at over €3bn.
MY QUEST FOR SWINDLED
RETIREMENT PAY BY SHELL
 
SWINDLING ITO, SYNDICATED ESTAFA
HOT PURSUIT
DUTY OF LAW ENFORCEMENT ENTITIES
SHELL SWINDLING OF RETIREMENT PAY 5TH YEAR
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