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BUSINESS
May 16, 1986
Royal Dutch-Shell and British Petroleum on Thursday both reported sharply lower earnings for the first quarter, blaming the global slump in crude oil prices. Pennzoil, in a statement revised to comply with a federal ruling, said its previously announced profit was a loss. Royal Dutch-Shell said its profit fell 16.6%, while British Petroleum announced a 96% drop.
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NATIONAL
June 10, 2012 | Kim Murphy
One day last week, guests from various engineering and shipping companies around Seattle were invited to a reception at the Space Needle, supposedly hosted by Royal Dutch Shell to celebrate the upcoming debut of offshore oil drilling in the Arctic Ocean. But most of the guests, it turned out, were actors and activists merely posing as drilling enthusiasts. They looked on in mock horror as a giant ice sculpture emblazoned with Shell's corporate logo began spraying a stream of Diet Coke on an elderly woman who was the supposed guest of honor.
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BUSINESS
September 24, 1997 | Bloomberg News
Royal Dutch Shell Group's U.S. arm agreed to buy Tejas Gas Corp. for $2.35 billion in cash and debt, a move that would give it pipelines it needs to transport its burgeoning supply of natural gas from the Gulf of Mexico. Shell Oil Co., the U.S. unit, will pay $61.50 a share in cash, or $1.45 billion. That's 23% more than Tejas' closing price of $50. Shell will assume about $900 million in debt and preferred stock.
BUSINESS
April 27, 2012 | By Ronald D. White, Los Angeles Times
Occidental Petroleum Corp. posted a slight increase in first-quarter profit on higher oil prices and record production as energy giants Exxon Mobil Corp. and Royal Dutch Shell reported lower net income. Westwood-based Occidental, the fourth-largest U.S. oil company, said it generated net income of $1.56 billion in the first quarter, or $1.92 a share, up from $1.55 billion, or $1.90, in the same quarter of 2011. Revenue jumped to $6.27 billion from $5.73 billion a year earlier. Occidental Chief Executive Stephen I. Chazen said production rose to the equivalent of 755,000 barrels of oil a day, "the highest in Occidental's history," from 730,000 barrels a day in the first quarter of 2011.
BUSINESS
May 28, 2009 | TIMES WIRE REPORTS
The incoming chief executive of Royal Dutch Shell announced a major shake-up, including new managers, a reorganization of businesses and job cuts. Peter Voser, who takes the CEO job July 1, said the changes would "increase accountability in the company and improve Shell's performance on delivering new projects." The moves are similar to simplification pushes undertaken earlier by Shell's main European rival, BP, and by the world's largest oil company, Exxon Mobil Corp.
BUSINESS
May 11, 1988 | Associated Press
Royal Dutch-Shell Group of Cos., the world's biggest oil concern, said Wednesday that its net profit rose 18.4% in the first quarter from a year ago. Royal Dutch-Shell said earnings from its marine, marketing and chemicals businesses improved but that exploration and production earnings were down due to the combination of lower crude oil prices, reduced natural gas sales and the strengthening of sterling against the dollar.
BUSINESS
April 23, 1985
A major obstacle to plans for the oil giant's $5.7-billion acquisition of Shell Oil was removed Friday when a Delaware judge approved a $190-million settlement to a class-action lawsuit by Shell shareholders who had challenged the fairness of the Royal Dutch offer.
BUSINESS
November 8, 1985
Royal Dutch-Shell reported that its profit tumbled 55.1% in the third quarter and said it may be difficult to avoid downward pressures on oil prices in early 1986. Royal Dutch, the world's second-largest oil company after Exxon, attributed its declining profits to expenses related to its closing of a refinery, reductions in its marine fleet, a write-down of some U.S. coal assets and special incentive payments to Shell Oil Co. employees.
BUSINESS
June 6, 1985 | DENISE GELLENE, Times Staff Writer
Occidental Petroleum agreed Wednesday to sell half of its interest in a huge oil field in eastern Colombia to Royal Dutch-Shell Group for $1 billion cash. The sale surprised most analysts, who said there was no indication that Occidental was considering such a move. But analysts said the sale was clearly beneficial to both companies, as Occidental receives a giant cash infusion and Royal Dutch-Shell gets valuable crude oil reserves for about $5 a barrel.
BUSINESS
April 30, 2010 | By Ronald D. White, Los Angeles Times
Higher crude prices are again pumping up profits of major oil companies worldwide. Occidental Petroleum Corp. nearly tripled its net income compared with a year earlier, with $1.1 billion, or $1.32 a share, in the first quarter of 2010, the Westwood company said Thursday. The announcement came during a week in which most of the giants of oil and gas reported sharp increases in quarterly earnings. Exxon Mobil Corp., the world's biggest integrated oil company, reported a 38% gain in first-quarter net earnings, with $6.3 billion, or $1.33 a share.
NATIONAL
February 29, 2012 | By Kim Murphy
Royal Dutch Shell launched an extraordinary preemptive legal strike Wednesday against opponents of offshore oil drilling in the Arctic Ocean, filing suit against more than a dozen environmental organizations likely to challenge its plan for drilling exploratory wells in the Chukchi Sea this summer. In a petition for declaratory relief filed in U.S. District Court in Anchorage, the oil giant seeks to have the court rule that the U.S. government complied with federal law when it approved Shell's oil spill response plan for upcoming exploratory well-drilling in the Arctic.
BUSINESS
April 30, 2010 | By Ronald D. White, Los Angeles Times
Higher crude prices are again pumping up profits of major oil companies worldwide. Occidental Petroleum Corp. nearly tripled its net income compared with a year earlier, with $1.1 billion, or $1.32 a share, in the first quarter of 2010, the Westwood company said Thursday. The announcement came during a week in which most of the giants of oil and gas reported sharp increases in quarterly earnings. Exxon Mobil Corp., the world's biggest integrated oil company, reported a 38% gain in first-quarter net earnings, with $6.3 billion, or $1.33 a share.
NATIONAL
September 17, 2009 | Jim Tankersley and Josh Meyer
The Justice Department is investigating whether former Interior Secretary Gale A. Norton illegally used her position to benefit Royal Dutch Shell PLC, the company that later hired her, according to officials in federal law enforcement and the Interior Department. The criminal investigation centers on the Interior Department's 2006 decision to award three lucrative oil shale leases on federal land in Colorado to a Shell subsidiary. Over the years it would take to extract the oil, according to calculations from Shell and a Rand Corp.
WORLD
June 10, 2009 | Robyn Dixon
In Nigeria's oil-rich Niger River Delta, where Royal Dutch Shell has a tense relationship with communities, activists Tuesday welcomed the company's agreement to pay $15.5 million to settle a lawsuit that accused it of complicity in the 1995 executions of environmental and human rights advocates. But the activists saw it as a starting point, not the end of the struggle of the Ogoni people and other communities in the region for compensation over Shell's activities.
BUSINESS
June 9, 2009 | Times Wire Reports
Royal Dutch Shell agreed to a $15.5-million settlement to end a lawsuit alleging that the oil giant was complicit in the executions of activist Ken Saro-Wiwa and other civilians by Nigeria's former military regime. Shell, which continues to operate in Nigeria, said it agreed to settle the lawsuit in hopes of aiding the "process of reconciliation." But Europe's largest oil company acknowledged no wrongdoing in the 1995 hanging deaths of six people, including poet Saro-Wiwa.
NATIONAL
June 9, 2009 | Times Wire Reports
Royal Dutch Shell agreed to a $15.5-million settlement to end a lawsuit alleging that the oil giant was complicit in the executions of activist Ken Saro-Wiwa and other civilians by Nigeria's former military regime. Shell, which continues to operate in Nigeria, said it agreed to settle the lawsuit in hopes of aiding the "process of reconciliation." But the oil company acknowledged no wrongdoing in the 1995 hanging deaths of six people, including poet Saro-Wiwa. The lawsuit in U.S. District Court in New York contended that Shell colluded with Nigeria's former military government to silence environmental and human rights activists.
BUSINESS
December 28, 2006
Royal Dutch Shell said Gale A. Norton would join the world's second-largest publicly traded oil company as a general counsel, 10 months after she resigned as U.S. Interior secretary.
BUSINESS
November 14, 1985
The San Antonio-based independent producer agreed to pay $17.25 million for working interests in five oil and gas fields from Shell Western Exploration & Production, a unit of Royal Dutch-Shell. The purchase includes 130 producing wells and a gas processing plant, Sage said.
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