Shell Boosts Europe Oil, Gas Spending to $1.8 Billion
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Royal Dutch/Shell Group, Europe&#39;s second-largest oil company, will boost investment in its European oil and gas unit by $150 million to $1.
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Anglo-Dutch oil giant Royal Dutch Shell said on Thursday that net profits leapt 23 percent last year to a record 31.331 billion dollars (21.115 billion euros), energised by soaring crude prices.
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Oil giant Royal Dutch Shell Plc posted record European company earnings of $27.6 billion in 2007, but fourth-quarter profit missed forecasts.
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Jeroen van der Veer, chief executive of Royal Dutch/ Shell, has opened the door to future deals with Gazprom, the Russian gas group, by welcoming its rapid expansion into the oil sector.
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LONDON (CP) - Royal Dutch/Shell Group said Wednesday it will spend $45 billion US and sell up to $12 billion worth of assets to reinvigorate its underperforming oil and natural gas business.
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Royal Dutch Shell Plc  reported an 11 percent rise in current cost of supply (CCS) net income to $6.7 billion on Thursday, as higher oil prices and one-off gains helped to offset a fall in production.
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Oil rose nearly $1 on Monday to match  its highest in almost a month, extending last week's late gains  as Venezuela threatened to halt oil exports to the United  States and bomb alerts shut down one of Britain's largest gas  fields.
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Iraq is planning to spend more than $1 billion in 2005 to boost its oil production capacity by about 15 percent to 3.25 million barrels a day, an Iraqi official said.
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OIL group Shell has pledged to invest $45bn (Â£25bn) and make major disposals in a shake-up of the business, following its reserves crisis earlier this year.
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Shell Oil Co said on Friday it has  decided to go ahead with a 325,000 barrel-per-day capacity  expansion of the Motiva refinery in Port Arthur, Texas.
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The Anglo-Dutch oil giant Shell today sought to draw a line under its reserves scandal by announcing plans to spend $15bn (Â£8.4bn) a year to replenish reserves and develop production in its oil and gas business.
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Royal Dutch/Shell announced plans to boost investment in exploration and production, making the replacement of its reserves a top priority in restoring battered investor confidence.
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LONDON, England -- Royal Dutch/Shell plans to boost exploration and production in a bid to restore confidence in the scandal-hit oil giant.
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Anglo-Dutch energy giant Royal Dutch Shell said Thursday that third-quarter net profit fell eight percent but still reached almost 6.4 billion dollars (4.5 billion euros) on the back of record high oil prices.
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Oil giant Royal Dutch Shell reports record annual profits of Â£25.36bn (Â£12.94bn).
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Oil prices surged more than $1 on  Wednesday as worries over tight heating fuel supplies in the  U.S. and Europe this winter countered a previous bout of  profit-taking by big-money funds.
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Local analysts said the jump in world oil prices, if sustained, could push up petrol prices another 42c/l in coming months, boosting inflation and slowing down spending in the economy.