shell
Shell's 'obscene' Ј13.9billion profit is biggest ever by British company | the Daily Mail
Weather
Evening10ºC Morning19ºC
CAN RUSSELL CONQUER U.S.?
With the release of his first big Hollywood movie, is America ready for Russell Brand?...more
Skip over navigation
« Back to home
Main sections
Homepage
News
Sport
Fantasy football
Money
TV & showbiz
Showbiz video
Science & tech
Columnists
Health
Femail
Books
Blogs
Horoscopes
Sudoku
Travel
Weather
Promotions
Mailshop
E-editions
Message boards
Find a job
Find a holiday
Find a home
Find a date
Photos & video
Quizzes
Polls
Competitions
Contact us
Need help?
Site map
Log-in
My details
News
News headlines
World news
City news
Mail comment
Benedict Brogan
Peter Hitchens
Photos & video
Mac cartoons
Joe Martin
News alerts
E-editions
Message boards
TODAY'S POLLIs the teachers' strike justified? Partners
Cut your bills
Diet centre
Mail wine club
Dating
Money shop
DVD rental
Free online games
Mailpictures
Special promotions
All promotions »
Mail extras
Primary school league tables
The Reading Room
Mac cartoons
Funny viral emails
Joe cartoons
Email newsletters
Send a LOVEFilm Giftbox
RSS feeds
What is RSS?
All our RSS feeds
Text-based site
Accessibility
Contact us
Need help?
Site map
Make us your homepage
Do you have a
complaint against
this newspaper?
If you have a complaint about the editorial content in this website which concerns
inaccuracy or intrusion and the article directly affects you, then click here for more details
This site Business directory
Advanced Search
This site Business directory
News
Shell's 'obscene' Ј13.9billion profit is biggest ever by British company
Last updated at 11:53am on 31st January 2008
Comments (40)Shell smashed all-time British company profit records today, posting 2007 earnings of $27.5billion (Ј13.9billion), and immediately ran into a storm with union leaders, who are demanding the Government hits the oil giant with a windfall tax.
Shell's profit surge - it is now making a staggering $75million (Ј38million) a day - on the back of a booming oil price that touched $100 a barrel this winter, was labelled as "obscene" by Tony Woodley of Unite, the UK's largest trade union, as Britons struggle with soaring energy costs.
"Shell shareholders are doing very nicely while the rest of us are paying the price and struggling," said Woodley.
Scroll down for more...
Shell's profits come as prices at the petrol pump rocket
"There are no problems with profits, but consumers should question the excessive mega-profits of the oil companies in light of UK companies and hauliers saying they are being pressed on high fuel and energy costs, pensioners struggling to pay energy bills and motorists struggling to fill their petrol tanks."
Shell angrily rejected the claims, arguing that a windfall tax in Britain would be illogical because the vast amount of its business is done around the world.
Shell's Chief Executive Jeroen van der Veer called the profits "satisfactory" as production levels fell for the fifth consecutive year.
Responding to Mr Woodley's attack Mr van der Veer said that in the UK taxes accounted for more than half the cost of petrol at the pumps. "We have no influence over that," he said.
The company also claimed it is as good as matching its annual profits with huge investments - between $24 billion and $25 billion of capital expenditure this year - to find new energy sources.
"We are investing a lot of money to have the energy production to satisfy the energy demand of the world," said finance director Peter Voser.
Scroll down for more...
Shell Chief Executive Jeroen van der Veer at a press conference today
"We are investing for the future of society so that people can live the life they want. That is our job."
Despite the surge in full-year profits, up 9 per cent from 2006, there was disappointment with the figures in the City.
Analysts had been pencilling in underlying "clean" profits for the fourth quarter of more than $5.8billion, but the figure came in at $5.7 billion.
Upstream production, which accounts for more than half of profits, averaged out at 3.315 million barrels of oil or their gas equivalent a day, just squeezing in to the forecast of between 3.3 million and 3.5 million.
That itself had been a major downgrade from the 3.8 million Shell had previously predicted. The company today said it expected production levels to fall again in 2008.
The biggest issue for Shell is the shutout from wells it has been co-producing in Nigeria - potentially 800,000 barrels a day - where local militia continue to demand that the world's major companies quit the Niger Delta.
Jeroen van der Veer, the chief executive of Royal Dutch Shell, said: "These are satisfactory results. We have made good progress in 2007, launched new projects upstream and downstream, and achieved exploration success."
The fourth-quarter dividend is up 11 per cent at 36 US cents, and the company said it would be increasing this year's first-quarter payout by a similar amount to 40 cents.
Share this article:
What is this?
Digg it
|
Del.icio.us
|
Reddit
|
Newsvine
|
Nowpublic
Add your comment|View allComments (40)40 people have commented on this story so far. Tell us what you think below.Here's a sample of the latest comments published. You can click view all to read allcomments that readers have sent in.Since 90% of the cost of petrol is tax, extorted from the public without competion, newspapers should concentrate upon Gormless Brown, the true exploiter of the public, and not companies that have to compete in a world market. Remember, without tax petrol is still cheaper than bottled water!- B.Smith, London, EnglandThe arguement about why fuel is expensive is now over I believe.- Chris Downing, YorkshireRip off Britain strikes again!- Joe Moran, LiverpoolView allAdd your commentName:Your email address will not be publishedEmail:Town and country:Terms and conditionsYour comment:make text area biggerYou have characters left.Remember me - this will save you having to type out your name, location and email address when you next leave a comment.Email me a link to these comments..promo_header1 a {color:#fff;}
.promo_header1 a:hover {color:#951715;}
Advertising Feature
.promo_header2 a {color:#333;}
.promo_header2 a:hover {color:#9b221a;}
Partner Promotion
Mail to a friend Print story Read later
Top of Page
©2008 Associated Newspapers Ltd · Terms & Conditions · Privacy
.rhsMoved{
top:117px !important;
}
Skip over adverts
Femail
Wowing them in white: Cat Deeley shows off sizzling LA makeoverThe relocated TV star flaunted her sun-kissed, slimline look in a figure-hugging dress at a Brit Week event that showed how much she's enjoying life Stateside
Is pregnant Tamzin Outhwaite feeling the strain of her big baby bump?The former EastEnder due in July looked a bit uncomfortable as she headed to a boutique for some maternity clothes
Sunny delight: Angelina Jolie ditches her 'goth' look for vibrant yellow to show off her baby bumpThe pregnant star looked on the brighter side of life as she dined out at a restaurant in LA
Ah...that's better: Gwyneth finally puts on some flat shoes after high heels tour of EuropeAfter a week of the high life promoting her new movie on the continent in eye-popping stillettos, the actress today returned to normality (and sensible footwear) with a sigh of relief
• Shock! Horror! It's Gwyneth out with her husband Chris Martin
Neighbours' fury over Man United star Ronaldo's 'offensive and brutal' Ј4million mansionResidents in 'Footballers Wives' village of Alderley Edge are objecting to the 23-year-old's five-bedroom home, built on the site of a knocked-down modest family house
Former champion fighter Mike Tyson goes from heavyweight boxer to just plain heavyHe proved he'd eat anything when he chewed off a rival's ear in the ring and now the boxer, spotted appropriately outside Mr Chow's in LA, has piled on the pounds
Parents celebrate their 200 million-to-one miracle... identical triplet girlsGabriella, Alessia and Olivia are so rare because they are naturally conceived identical triplets
Wobbly Suzanne Shaw looks worse for wear at 3am after swapping the ice for a night on the tilesThe ice dance queen let her hair down in spectacular fashion at the Embassy club after judging the contestants at the Dancing On Ice tour at Wembley Arena
DON'T MISS...
Britain's Got Talent Week 3: The escapologist who can't escape, a Bhangra Michael Jackson...and, yup, more cute kidsIt's that time again
Jordan undergoes 'Botox' procedure... on her television showKatie Price grimaces as a surgeon injects the anti-wrinkle treatment into her forehead, eyes and nose
Coleen's hangover cure: Fresh fruit, a swim and hair of the dogIt was just what a girl needs after a hard night's partying on her hen week - fresh fruit a swim and a glass of wine
Shock! Horror! It's Gwyneth out with her husband Chris MartinThe Coldplay frontman caught up with his wife at last after her premiere here - but wasn't keen to be seen
Big deal: Adrian Chiles set to sign Ј2m offer to stay at BBCThe Brummie presenter of The One Show, Match Of The Day 2 and Apprentice 2 has resisted the lure of ITV
As Blake's 7 returns to TV, what are the original cast of inter-galactic warriors doing now?We track down evil Servelain and the rebels who stopped fighting her on BBC in 1981
Top Gear's Richard Hammond in race with Terry Wogan to replace Richard and JudyThe two TV favourites are in competition for the C4 slot after filming pilots
Is this the most disgusting art exhibition ever? Incarcerated Pete Doherty misses his blood-spattered art launchThirty 'unique' paintings went on display in Paris
The Return of Little Britain: Matt Lucas as a chubby schoolgirl and David Walliams as 'mom' play for laughs StatesideThe comedy couple dressed up in frocks for a new series
Hollywood star Wesley Snipes jailed for three years for $15m tax evasionActor Wesley Snipes was jailed for three years despite pleas for his freedom from famous friends
Frank Lampard grieves for the mother who lost her battle against pneumoniaThe Chelsea star was mourning the loss of his mother Pat at the age of 58
The BBC is rubbish and I'm not sure Gary Lineker's my friend any more, fumes former presenter Ian WrightThe footballer turned pundit launched a ferocious attack on the channel after quitting
Can sex addict and former junkie Russell Brand conquer America (and can America cope with him)?With the release of his first big Hollywood movie, the comic tries to break the U.S.
All showbiz news »
разделы
холодильник дешево
холодильник норд
съемный зубной протез
напыление ппу
кофе дорога
газовый заправка
купить ножовка
вымпел
грунт
домашний очаг здоровье
крот-95
вымпел
фирменный флаг
билет балет
кулер комп
сушильный машина frigidaire
купить nokia 8910
автоматический резка
трехмерный презентация
пп-пленка
кайт серфинг
подготовка ielts
апгрейд обезьяна
гуп ритуал
антенна акустомагнитные
hi-fi
protherm
крот dr
вал редуктор поворот
сейфовые ячейка
скребковый конвейер
гиря торговый калибровочный
купить стиральный
тиристорный контактор
глюкозамин-хондроитиновый комплекс
бюджетирование
бахила
экг сервис
кострома коммерческий
компания макса линдера
диспорт
пленка пэ
время кострома
индустриальный монитор
детский мир
sikkens краска
луковичный цвет
помидор купля
срезанный цвет
промышленный аккумулятор
флажок настольный
задний зеркало
5440.14 (крышка)
создание лого
билет russia music awards
isdn видеоконференция
заказать микроавтобус
конвейер шнековый
деловой разведка
факультет психология
видеослот
бордюр
купить ниппель
эфирный антенна kaasi
ariston опт
dhl
вино роза
фмс
электротельфер
пассажирский лифт
лечение иглоукалыванием
телефонный анкетирование
корвет-телеком
soflens comfort
восстановление файл
слабость головокружение
обед
доставка канцелярия
покрышка бриджстоун
билет задорнов
5440.16 (крышка)
газонокосилка elmos
shell