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Shell's New Plan Has Fans

Forbes -- A new strategy annoucement at Royal Dutch Shell sent its shares up in Tuesday trading as investors reacted positively to the company's plans to take on new projects and cut jobs.

The Netherlands-based oil and gas company said it would increase its oil production by 11% from 2009 levels over the next two years, with a targeted output of 3.5 million barrels of oil per day. The production increase would follow a decade of declines for Shell.

According to the company, 2009 was the best year for exploration in over a decade. Shell added roughly 3.4 billion barrels of oil to proven reserves and 2.4 billion barrels of new resources in Australia, the Gulf of Mexico and North America tight gas. The company's tight gas production increased more than 60% in 2009.

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Submitted Mar 16, 2010 By: sphere68

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honda0105 Champion Author Tallahassee Posts:15,266 Points:1,142,300 Joined:Nov 2008	Message Posted: Mar 18, 2010 12:15:37 AM Ignore honda0105 Report Abuse production increase of refined products would be better but wait, that would mean decreases in record profits. Oh, never mind...
honda0105 Champion Author Tallahassee Posts:15,266 Points:1,142,300 Joined:Nov 2008	Message Posted: Mar 18, 2010 12:14:57 AM Ignore honda0105 Report Abuse always the question, who benefits and who loses? Those who stand to benefit usually like plans, the rest hates them.
NJColt Champion Author New Jersey Posts:10,355 Points:2,180,435 Joined:Aug 2005	Message Posted: Mar 17, 2010 8:08:32 AM Ignore NJColt Report Abuse and their gas is still too high
afghaned Champion Author Hamilton Posts:8,502 Points:821,700 Joined:May 2004	Message Posted: Mar 17, 2010 6:38:01 AM Ignore afghaned Report Abuse Seek the treasure tat will be more valuable as demand increases.
ang2010 Veteran Author New York Posts:322 Points:77,175 Joined:Feb 2010	Message Posted: Mar 17, 2010 2:19:20 AM Ignore ang2010 Report Abuse how true
RobRD Champion Author Alberta Posts:3,828 Points:896,020 Joined:Jul 2007	Message Posted: Mar 17, 2010 2:06:19 AM Ignore RobRD Report Abuse Great to see Shell actually exploring.
PDQBlues Champion Author San Diego Posts:4,706 Points:980,350 Joined:Jan 2009	Message Posted: Mar 17, 2010 12:41:19 AM Ignore PDQBlues Report Abuse Imagine that... stock values go up when a company plans to increase production.
signwiz Champion Author Indiana Posts:1,395 Points:1,349,930 Joined:Feb 2006	Message Posted: Mar 17, 2010 12:29:34 AM Ignore signwiz Report Abuse Sounds too good to be true... and consider the source.
sillywagon Champion Author New York Posts:10,811 Points:1,004,000 Joined:Oct 2008	Message Posted: Mar 17, 2010 12:01:09 AM Ignore sillywagon Report Abuse Good news for investors. But how will they be able to increase the number of projects while at the same time cutting their employees by an additional two percent? Or is it just me?
phurburger Champion Author Atlanta Posts:2,555 Points:530,670 Joined:Oct 2005	Message Posted: Mar 16, 2010 11:54:31 PM Ignore phurburger Report Abuse Wow, this is amazingly good news for consumers on the face of it.
hank1326 Champion Author Los Angeles Posts:6,693 Points:1,280,355 Joined:Jun 2008	Message Posted: Mar 16, 2010 11:49:38 PM Ignore hank1326 Report Abuse Perhaps they will lower the price to get more cash flow.
PhilMils Champion Author Virginia Posts:4,846 Points:948,785 Joined:Dec 2008	Message Posted: Mar 16, 2010 11:44:50 PM Ignore PhilMils Report Abuse More money for Shell and less for you and me. What do you get when you take the "S" off Shell? Let's end our dependency on oil as quickly as possible.
AKmailman Champion Author Alaska Posts:3,298 Points:1,099,495 Joined:Jul 2004	Message Posted: Mar 16, 2010 11:22:11 PM Ignore AKmailman Report Abuse I'd rather they stay the course and keep the 2,000 jobs.
aldog365 Champion Author Nashville Posts:3,150 Points:1,559,710 Joined:Aug 2005	Message Posted: Mar 16, 2010 11:19:06 PM Ignore aldog365 Report Abuse It's all about the dollar.
Pozole Champion Author Portland Posts:6,364 Points:1,127,775 Joined:Mar 2005	Message Posted: Mar 16, 2010 11:15:56 PM Ignore Pozole Report Abuse ..."and cut jobs"...me no like...as if more folks out of work is helping anything but their bottom line...what a world...
AtascaderoHound All-Star Author California Posts:558 Points:588,935 Joined:Oct 2006	Message Posted: Mar 16, 2010 11:12:50 PM Ignore AtascaderoHound Report Abuse When we cut off our addiction to oil, we will truly be on the road to an energy independent future.
Greg6901 All-Star Author Oakland Posts:616 Points:662,035 Joined:Jan 2010	Message Posted: Mar 16, 2010 11:09:55 PM Ignore Greg6901 Report Abuse Joel - funny!
booker38 Veteran Author New Jersey Posts:271 Points:327,525 Joined:Mar 2006	Message Posted: Mar 16, 2010 11:07:19 PM Ignore booker38 Report Abuse Rats! I sold my Royal Dutch Shell stock.
npt Veteran Author Raleigh Posts:250 Points:90,680 Joined:Oct 2009	Message Posted: Mar 16, 2010 11:05:15 PM Ignore npt Report Abuse good info.
joel27nc Champion Author Raleigh Posts:8,157 Points:1,392,445 Joined:Mar 2008	Message Posted: Mar 16, 2010 11:02:32 PM Ignore joel27nc Report Abuse Just a shell game.....HA HA
murphy50 Champion Author Colorado Posts:5,145 Points:2,105,195 Joined:May 2004	Message Posted: Mar 16, 2010 10:57:41 PM Ignore murphy50 Report Abuse BIG OIL is not our friend.
urban_dweller Champion Author Orlando Posts:1,659 Points:65,420 Joined:May 2006	Message Posted: Mar 16, 2010 10:56:19 PM Ignore urban_dweller Report Abuse "all the new production should be bringing down prices, I don't see it happening." that's because the new production is more than offset by the 4 million barrels of oil production per day that is lost every year from the depletion of maturing producing fields.
Rt118E Champion Author Pennsylvania Posts:6,709 Points:905,660 Joined:Jun 2009	Message Posted: Mar 16, 2010 10:51:28 PM Ignore Rt118E Report Abuse They need to get away from oil.
OGW Champion Author London Posts:3,342 Points:1,112,955 Joined:Sep 2005	Message Posted: Mar 16, 2010 10:49:44 PM Ignore OGW Report Abuse All the new production should be bringing down prices, I don't see it happening.
camel1 Champion Author Minnesota Posts:6,048 Points:1,816,375 Joined:Jul 2006	Message Posted: Mar 16, 2010 10:44:46 PM Ignore camel1 Report Abuse sounds to focused on oil instead or diversifying into new technology for renewable fuel resources
jb107 Champion Author New Jersey Posts:7,214 Points:2,155,580 Joined:Sep 2005	Message Posted: Mar 16, 2010 10:40:54 PM Ignore jb107 Report Abuse Sounds good although I never buy Shell. They are the highest priced around here except for Exxon.
POLELANE Champion Author Ohio Posts:7,148 Points:828,370 Joined:Mar 2008	Message Posted: Mar 16, 2010 10:40:05 PM Ignore POLELANE Report Abuse Cher has fans too; and they are sticking with her; different reasons though.
janctx Champion Author Lubbock Posts:2,715 Points:882,880 Joined:Nov 2007	Message Posted: Mar 16, 2010 10:33:23 PM Ignore janctx Report Abuse is there loose gas????? hahahahaha
divebomber Champion Author Nebraska Posts:3,714 Points:1,345,415 Joined:Jun 2007	Message Posted: Mar 16, 2010 10:30:08 PM Ignore divebomber Report Abuse I am soooooooo sick of hearing about Shell's woes. I'm going to get my fidle!
tickledpink73 Sophomore Author Arkansas Posts:152 Points:721,790 Joined:Apr 2009	Message Posted: Mar 16, 2010 10:28:33 PM Ignore tickledpink73 Report Abuse Guaranteed money on the shelf for few years
LanguageMan1 Champion Author Tampa Posts:9,140 Points:1,197,260 Joined:Apr 2008	Message Posted: Mar 16, 2010 10:28:14 PM Ignore LanguageMan1 Report Abuse We'll see what happens.
Asbury09 Champion Author Iowa Posts:4,973 Points:1,070,730 Joined:Jan 2009	Message Posted: Mar 16, 2010 10:25:51 PM Ignore Asbury09 Report Abuse that will feed a lot of demand
esquared Champion Author Oklahoma City Posts:6,082 Points:1,573,875 Joined:Jan 2006	Message Posted: Mar 16, 2010 10:25:36 PM Ignore esquared Report Abuse Peak oil retreats yet again.
DEG Champion Author Las Vegas Posts:15,397 Points:3,054,380 Joined:Jul 2003	Message Posted: Mar 16, 2010 10:13:37 PM Ignore DEG Report Abuse It is about time.
1Casey Champion Author Albany Posts:4,521 Points:1,419,785 Joined:Jun 2004	Message Posted: Mar 16, 2010 10:04:41 PM Ignore 1Casey Report Abuse Where are the speculators ? If the company is increasing production and cutting jobs, Shell should drop to about $.25 a gallon.
MDTDriver Champion Author California Posts:7,445 Points:1,692,760 Joined:Jul 2006	Message Posted: Mar 16, 2010 9:58:34 PM Ignore MDTDriver Report Abuse Will this push oil price down?
kidrockTX Champion Author Fort Worth Posts:3,854 Points:508,370 Joined:Sep 2008	Message Posted: Mar 16, 2010 9:57:01 PM Ignore kidrockTX Report Abuse they need to lower the prices more
tnsilvertip Champion Author Tennessee Posts:1,275 Points:480,960 Joined:Oct 2005	Message Posted: Mar 16, 2010 9:53:51 PM Ignore tnsilvertip Report Abuse That much more oil won't affect our prices much.
Bill100 Champion Author Grand Rapids Posts:37,369 Points:705,370 Joined:Jan 2010	Message Posted: Mar 16, 2010 9:49:45 PM Ignore Bill100 Report Abuse They were up 1.86% today, but not on below average volume.
zeddieiv Champion Author Columbia Posts:5,651 Points:1,490,920 Joined:Oct 2006	Message Posted: Mar 16, 2010 9:37:49 PM Ignore zeddieiv Report Abuse Yea, maybe we can stretch it a few years.
scrounger Champion Author Vancouver Posts:9,635 Points:2,648,020 Joined:Mar 2003	Message Posted: Mar 16, 2010 9:37:48 PM Ignore scrounger Report Abuse who has shares???
heysailor Champion Author Pittsburgh Posts:7,231 Points:1,867,135 Joined:Mar 2006	Message Posted: Mar 16, 2010 9:36:30 PM Ignore heysailor Report Abuse Let's use those resources wisely.
paulydel Champion Author Delaware Posts:6,784 Points:687,195 Joined:Jan 2008	Message Posted: Mar 16, 2010 9:31:31 PM Ignore paulydel Report Abuse I don't have any love loss for the oil companies but all companies are cutting leaning out their businesses.
dbatw Champion Author St. Louis Posts:1,686 Points:341,165 Joined:Apr 2009	Message Posted: Mar 16, 2010 9:28:26 PM Ignore dbatw Report Abuse yessir, another giant corporation gets rewards for LAYING PEOPLE OFF. I have only contempt for these vial serpents.
packards42 Champion Author Washington Posts:4,234 Points:716,195 Joined:Feb 2005	Message Posted: Mar 16, 2010 9:28:10 PM Ignore packards42 Report Abuse Tight gas will kill the Alaskan gas pipeline yet another time. [Edited by: packards42 at 3/16/2010 8:28:23 PM EST]
WCCurtis Champion Author San Bernardino Posts:3,304 Points:1,360,820 Joined:Oct 2005	Message Posted: Mar 16, 2010 9:27:19 PM Ignore WCCurtis Report Abuse Wonder how they are going to increase production when the UN and others say we have reached Peak Oil?
Sneakers55 Champion Author Houston Posts:43,346 Points:1,712,105 Joined:Nov 2005	Message Posted: Mar 16, 2010 9:24:30 PM Ignore Sneakers55 Report Abuse fullauto wrote: >i'm a shareholder. Are you one of these shareholders that use their own products? I took a driving vacation last year where I bought one partial tank of Shell and the rest of my purchases were at Phillips 66. Mr. Mulva should be pleased by his dedicated shareholders.
oldiesman Champion Author New York Posts:4,216 Points:1,763,875 Joined:May 2006	Message Posted: Mar 16, 2010 9:23:20 PM Ignore oldiesman Report Abuse Shell is a shady company, I don't trust them.
Winston76 All-Star Author Michigan Posts:727 Points:218,910 Joined:Jul 2008	Message Posted: Mar 16, 2010 9:22:55 PM Ignore Winston76 Report Abuse Cutting jobs is supposed to be part of being progressive? How are they going to follow through on these new projects without staff to implement them? This sounds like BS to me.
Sneakers55 Champion Author Houston Posts:43,346 Points:1,712,105 Joined:Nov 2005	Message Posted: Mar 16, 2010 9:21:24 PM Ignore Sneakers55 Report Abuse Rick52 wrote: >I've said this before you can all the oil you want.. >But if you have no or not enough Refineries it means CRAP !!! Occidental Petroleum (ticker OXY), Devon Energy (DVN), and Permian Basin Royalty Trust (PBT) do just fine with exploring and producing (OXY's and DVN's activities) or pumping existing oil fields and occasionally drilling a new well (PBT's business). Pure-play oil refiners, such as Valero (VLO) or Tesoro (TSO), keep busy most of the day refining oil they bought from other people.