2006 Annual Report

Total Page:16

File Type:pdf, Size:1020Kb

2006 Annual Report R o y a l D u t c h S h e l l p l c A PUBLICATION REQUESTS PUBLICATIONS n n u a Copies of all publications of the Group Annual Report and Form 20-F for the year ended Shell Sustainability Report 2006 l R are available from: December 31, 2006 (available May 2007) e p A comprehensive overview of the Group. Report on progress in contributing to sustainable o r Royal Dutch Shell plc Available at www.shell.com/annualreport development. t a c/o Bankside Available at www.shell.com/envandsociety n d Tel +44 (0)1635 232700 Annual Review and Summary Financial F o E-mail [email protected] Statements 2006 Shell Technology Report r A summarised overview and the operational and An overview of 27 advanced technologies. m 2 Annual Report/20-F Service for US residents: financial performance of the business. Available at www.shell.com/technology 0 - Tel (888) 400 7789 Available at www.shell.com/annualreport F f o Shell General Business Principles r t More information about the Group Jaaroverzicht en verkorte jaarrekening 2006 Fundamental principles that govern how each Shell h e is available at www.shell.com Dutch language version. company conducts its affairs. y e Available at www.shell.com/annualreport Available at www.shell.com/sgbp a r e n Financial and Operational Information 2002-2006 Shell Code of Conduct d e (available May 2007) Provides standards of behaviour expected d Five years’ financial and operational information, from employees. D e c including maps of exploration and production activities. Available at www.shell.com/codeofconduct e Available at www.shell.com/faoi m b e r 3 1 , 2 0 0 6 Delivery and growth Royal Dutch Shell plc Annual Report and Form 20-F for the year ended December 31, 2006 Royal Dutch Shell Our purpose Contact information The objectives of the Shell Group are to engage safely, responsibly, efficiently and profitably in oil, gas, oil REGISTERED OFFICE RETAIL SHAREHOLDERS INVESTOR RELATIONS Royal Dutch Shell plc products, chemicals and other selected businesses and to participate in the search for and development of other Shell Centre For access to shareholder information, For access to investor relations information, sources of energy to meet evolving customer needs and the world’s growing demand for energy. London SE1 7NA visit www.shell.com/shareholder visit www.shell.com/investor United Kingdom Enquiries from retail shareholders Enquiries from institutional shareholders We believe that oil and gas will be integral to the global energy needs for economic development for many Registered in England and Wales may be addressed to: may be addressed to: Company number 4366849 decades to come. Our role is to ensure that we extract and deliver them in environmentally and socially Registered with the Dutch Trade Register Shareholder Relations Investor Relations responsible ways, safely and profitably. under number 34179503 Royal Dutch Shell plc Royal Dutch Shell plc Carel van Bylandtlaan 30 PO Box 162 HEADQUARTERS 2596 HR The Hague 2501 AN The Hague We seek a high standard of performance, maintaining a strong long-term and growing position in the Royal Dutch Shell plc The Netherlands The Netherlands Carel van Bylandtlaan 30 Tel +31 (0)70 377 1365/4088 Tel +31 (0)70 377 4540 competitive environments in which we choose to operate. 2596 HR The Hague Fax +31 (0)70 377 3953 Fax +31 (0)70 377 3115 The Netherlands E-mail [email protected] E-mail [email protected] We aim to work closely with our stakeholders to advance more efficient and sustainable use of energy and SHARE REGISTRAR or or natural resources. Lloyds TSB Registrars The Causeway, Worthing Shareholder Relations Investor Relations West Sussex BN99 6DA Royal Dutch Shell plc Royal Dutch Shell plc United Kingdom Shell Centre Shell Centre Freephone 0800 169 1679 (UK only) London SE1 7NA London SE1 7NA Tel +44 (0)121 415 7073 United Kingdom United Kingdom Fax +44 (0)870 600 3980 Tel +44 (0)20 7934 3363 Tel +44 (0)20 7934 3856 www.shareview.co.uk for online information Fax +44 (0)20 7934 7515 Fax +44 (0)20 7934 3702 about your holding. Shareholder reference E-mail [email protected] E-mail [email protected] number will be required - shown on your share certificates, tax vouchers or your For any other private shareholder enquiries or Shell Nominee Statement. please write to: Investor Relations AMERICAN DEPOSITARY RECEIPTS Company Secretary Shell Oil Company (ADRS) Royal Dutch Shell plc 630 Fifth Avenue Suite 3166 The Bank of New York Carel van Bylandtlaan 30 New York, NY 10111 Shareholder Relations 2596 HR The Hague USA PO Box 11258 The Netherlands Tel +1 212 218 3112 Church Street Station Fax +1 212 218 3114 New York, NY 10286-1258 E-mail [email protected] USA Tel 1 800 524 4458 (USA only) Tel +1 212 815 3700 (international) E-mail [email protected] www.stockbny.com CORPORATE ISA/PEP Designed by Flag BNP Paribas Securities Services Typeset by Bowne Block C, Western House Cover photography by Adrian Burke Lynchwood Business Park Board photography by Jaap van den Beukel Peterborough PE2 6BP Printed by Taylor Bloxham under ISO 14001 United Kingdom The paper used has Forest Stewardship Tel +44 (0)845 358 1102 Council certification. United States Securities and Exchange Commission Washington, D.C. 20549 FORM 20-F Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2006 Commission file number 1-32575 Royal Dutch Shell plc (Exact name of registrant as specified in its charter) England and Wales (Jurisdiction of incorporation or organisation) Carel van Bylandtlaan 30, 2596 HR, The Hague, The Netherlands Tel. no: (011 31 70) 377 9111 (Address of principal executive offices) Securities Registered Pursuant to Section 12(b) of the Act Title of Each Class Name of Each Exchange on Which Registered American Depositary Receipts representing Class A ordinary shares of the New York Stock Exchange issuer of an aggregate nominal value ?0.07 each American Depositary Receipts representing Class B ordinary shares of the New York Stock Exchange issuer of an aggregate nominal value of ?0.07 each 5.625% Guaranteed Notes due 2011 New York Stock Exchange Securities Registered Pursuant to Section 12(g) of the Act None Securities For Which There is a Reporting Obligation Pursuant to Section 15(d) of the Act None Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report. Outstanding as of December 31, 2006: 3,585,194,588 RDS Class A ordinary shares of the nominal value of ?0.07 each. 2,713,568,281 RDS Class B ordinary shares of the nominal value of ?0.07 each. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Yes No Note – Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 from their obligations under those Sections. Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer Accelerated filer Non-accelerated filer Indicate by check mark which financial statement item the registrant has elected to follow. Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No Copies of notices and communications from the Securities and Exchange Commission should be sent to: Royal Dutch Shell plc Carel van Bylandtlaan 30 2596 HR, The Hague, The Netherlands Attn: Mr. M. Brandjes Cross Reference to Form 20-F Part I Pages Item 1. Identity of Directors, Senior Management and Advisers N/A Item 2. Offer Statistics and Expected Timetable N/A Item 3. Key Information A. Selected financial data 4-6, 220 B. Capitalisation and indebtedness N/A C. Reasons for the offer and use of proceeds N/A D. Risk factors 13-14 Item 4. Information on the Company A. History and development of the company 4-5, 10, 17, 20, 23, 27-31, 33-37, 39-41, 49-53, 108,184 B. Business overview 10-12, 16-55, 62-67, 161-167 C. Organisational structure 4, 204-207 D. Property, plant and equipment 10-12, 16-53, 62-64 Item 4A. Unresolved Staff Comments N/A Item 5. Operating and Financial Review and Prospects A. Operating results 4-7, 10-12, 16-64, 68-69 B. Liquidity and capital resources 56-57 C. Research and development, patents and licences, etc. 20, 34, 40, 49, 53, 74, 112 D.
Recommended publications
  • PREFERENCE SHARES, NOMINAL VALUE of E2.24 PER SHARE, in the CAPITAL OF
    11JUL200716232030 3JUL200720235794 11JUL200603145894 Public Offer by RFS Holdings B.V. FOR ALL OF THE ISSUED AND OUTSTANDING (FORMERLY CONVERTIBLE) PREFERENCE SHARES, NOMINAL VALUE OF e2.24 PER SHARE, IN THE CAPITAL OF ABN AMRO Holding N.V. Offer Memorandum and Offer Memorandum for ABN AMRO ordinary shares (incorporated by reference in this Offer Memorandum) 20 July 2007 This Preference Shares Offer expires at 15:00 hours, Amsterdam time, on 5 October 2007, unless extended. OFFER MEMORANDUM dated 20 July 2007 11JUL200716232030 3JUL200720235794 11JUL200603145894 PREFERENCE SHARES OFFER BY RFS HOLDINGS B.V. FOR ALL THE ISSUED AND OUTSTANDING PREFERENCE SHARES, NOMINAL VALUE OF e2.24 PER SHARE, IN THE CAPITAL OF ABN AMRO HOLDING N.V. RFS Holdings B.V. (‘‘RFS Holdings’’), a company formed by an affiliate of Fortis N.V. and Fortis SA/NV (Fortis N.V. and Fortis SA/ NV together ‘‘Fortis’’), The Royal Bank of Scotland Group plc (‘‘RBS’’) and an affiliate of Banco Santander Central Hispano, S.A. (‘‘Santander’’), is offering to acquire all of the issued and outstanding (formerly convertible) preference shares, nominal value e2.24 per share (‘‘ABN AMRO Preference Shares’’), of ABN AMRO Holding N.V. (‘‘ABN AMRO’’) on the terms and conditions set out in this document (the ‘‘Preference Shares Offer’’). In the Preference Shares Offer, RFS Holdings is offering to purchase each ABN AMRO Preference Share validly tendered and not properly withdrawn for e27.65 in cash. Assuming 44,988 issued and outstanding ABN AMRO Preference Shares outstanding as at 31 December 2006, the total value of the consideration being offered by RFS Holdings for the ABN AMRO Preference Shares is e1,243,918.20.
    [Show full text]
  • Shell Foundation
    FILE COPY CERTIFICATE OF INCORPORATION OF A PRIVATE LIMITED COMPANY Company No. 4007273 The Registrar of Companies for England and Wales hereby certifies that SHELL FOUNDATION is this day incorporated under the Companies Act 1985 as a private company and that the company is limited. Given at Companies House, London, the 31st May 2000 *N04007273A* For The Registrar Of Companies ········ { ·= ~ .: ········· COMPANIES- HOUSE 12 Declaration on Application for Registration Please complete in typescript. or in bold black capitals. Company Name in full ,I-_____S_H_£_L_L __ F_o_u_r.~_o_A_T_,_O_N-'------------l *F0120C10* of ALL~IJ.,..OVER'{, 01'1£/'Jt:t.Jc.HAN&-£, L<JN~ONEC:.I(-M. <I (Jr.! a..rri s do solemn~y and sincerely declare that I am a I:::s:: engaged in the formatton of the companytf~eFSeA AaFAed -----+-qer er seeretaFy ef the eefA~BA'f iA the stateFAeAt delivered te the Re!Jistraf tPiease delete as appropriate. ttnder seetieA 1 0 ef the CefA~aAies Aet 1986]t and that all the requirements of the Companies Act 1985 in respect of the registration of the above company and of matters precedent and incidental to it have been complied with. And I make this solemn Declaration conscientiously believing the same to be true and by virtue of the Statutory Declarations Act 1835. Declarant's signature the 1 so rl I day of I ~ , d._oo c -pfease print name. before me• I()Aiv1ANfli-A Mcr21SotJ Signedl(i~ IDate I~ J.1 VI;) MO A ~llimlssionel fut Oaths ot No tat 7 Pttelie or Jttstice of tlte Peaee ~Solicitor Please give the name, address, telephone number, and if available, a OX number and Fl/ANI'I TA 'I La"- Exchange of the person Companies House should contact if there is any query.
    [Show full text]
  • Chevron 2006 Annual Report
    2006 Annual Report LETTER TO STOCKHOLDERS 2 EMERGING ENERGY 10 OPERATING HIGHLIGHTS 18 FIVE-YEAR OPERATING SUMMARY 85 THE ENERGY PORTFOLIO: EFFICIENT ENERGY 12 GLOSSARY OF ENERGY FIVE-YEAR FINANCIAL SUMMARY 86 CONVENTIONAL ENERGY 6 HUMAN ENERGY 14 AND FINANCIAL TERMS 24 BOARD OF DIRECTORS 1 0 1 UNCONVENTIONAL ENERGY 8 CHEVRON PERSPECTIVES 16 FINANCIAL REVIEW 25 CORPORATE OFFICERS 102 Demand for energy continues to rise, posing a clear challenge for our industry: how to develop new and better ways to produce, process, use and deliver all forms of energy — from conventional crude oil and natural gas to the emerging sources of the future. At Chevron, we recognize the world needs all the energy we can develop, in every potential form. We’re managing our energy portfolio to deliver that energy — and to create growth and value for our stockholders, our customers, our business partners and the communities where we do business. The energy portfolio CONVENTIONAL UNCONVENTIONAL EMERGING EFFICIENT HUMAN ENERGY ENERGY ENERGY ENERGY ENERGY 6 8 10 12 14 TO OUR STOCKHOLDERS 2006 was an exceptional year for our company. We continued to deliver value to our stockholders and to make strategic investments that will drive sustained, superior performance over the long term. We reported record net income of $17.1 billion on sales and other operating revenues of approximately $205 billion. For the year, total stockholder return was 33.8 percent, which was more than double the rate of return delivered by the S&P 500. Return on capital employed was a strong 22.6 percent. We continued to return cash to stock- holders through our stock buyback program, purchasing $5 billion worth of shares in the open market, and we increased our annual dividend for the 19th year in a row.
    [Show full text]
  • OEF 107 November 2016.Indd
    NOVEMBER 2016: Issue 107 forum A QUARTERLY JOURNAL FOR DEBATING ENERGY ISSUES AND POLICIES It is well known that Russia is heavily not be practically possible, meaning CONTENTS dependent on its energy sector, from that oil and gas companies could face both an economic and a political a stealth increase in their overall tax Russian energy issues in a volatile perspective. As a result, the fall in the burden. environment oil price over the past two years and the Tatiana Mitrova then discusses one Russia’s macroeconomic problems and dramatic changes taking place in the of the key factors underpinning the the risks to the oil and gas sector global gas market are having signifi cant survival of Russia’s hydrocarbon Christopher Granville 4 consequences for both the Kremlin and industry in 2016, namely the devaluation Russia’s domestic energy companies. Cost dynamics in the Russian energy sector of the ruble and its impact on cost Tatiana Mitrova 7 However, instead of reviewing the competitiveness. The Russian increased risks for Russia from the The Rosneftization of the Russian oil sector government’s decision not to protect change in global energy markets, this Nina Poussenkova 9 the domestic currency as the oil price edition of the Oxford Energy Forum collapsed has signifi cantly enhanced Securing the future: the implications of discusses how Russia has started the position of exporting industries, India’s expanding role in the Russian oil to adapt its policies and commercial reducing their costs in US$ terms, sector strategies in a number of different areas. Vitaly Yermakov 12 but Mitrova argues that this benefi t Some of the new strategies appear very has limited further upside and could positive, while others carry inherent Ukraine’s dramatic gas import diversifi cation risks, but all show how the world’s indeed be reversed if the oil price Simon Pirani 15 largest producer of hydrocarbons is recovers.
    [Show full text]
  • University Capture
    THE AUSTRALIA INSTITUTE University Capture Australian universities and the fossil fuel industries Clive Hamilton and Christian Downie The Australia Institute Discussion Paper Number 95 June 2007 ISSN 1322-5421 ii © The Australia Institute This work is copyright. It may be reproduced in whole or in part for study or training purposes only with the written permission of the Australia Institute. Such use must not be for the purposes of sale or commercial exploitation. Subject to the Copyright Act 1968, reproduction, storage in a retrieval system or transmission in any form by any means of any part of the work other than for the purposes above is not permitted without written permission. Requests and inquiries should be directed to The Australia Institute. The Australia Institute iii Table of Contents Table of Contents iii Tables and Figures iv Acknowledgments v Summary vii 1. Introduction 2 1.1 Commercialisation of universities 2 1.2 Academic freedom 3 1.3 University capture 4 2. Involvement of fossil fuel companies in Australian universities 8 2.1 Fossil fuel industry associations 8 2.2 Fossil fuel companies 10 3. Three case studies 16 3.1 Introduction 16 3.2 The University of Queensland 16 3.3 The University of Western Australia 20 3.4 Curtin University of Technology 23 4. Conclusions 28 References 30 The Australia Institute iv Tables and Figures Table 1 Some examples of the revolving door between the fossil fuel 11 industries and university governance Table 2 Some fossil fuel sponsored academic positions at Australia 13 universities Figure 1 ACARP funding for research, in millions, 2000-2006 9 The Australia Institute v Acknowledgments The authors would like to thank Professor Stuart Macintyre and Professor Simon Marginson for refereeing this paper.
    [Show full text]
  • Tribune ABN AMRO Prof. Smits
    Tribune ABN AMRO: A TAKE-OVER BATTLE WITH FAR-REACHING IMPLICATIONS PROFESSOR DR. RENÉ SMITS JEAN MONNET CHAIR , LAW OF THE ECONOMIC AND MONETARY UNION , UNIVERSITEIT VAN AMSTERDAM , AMSTERDAM (NL) VISITING PROFESSORIAL FELLOW , CENTRE FOR COMMERCIAL LAW STUDIES , QUEEN MARY , UNIVERSITY OF LONDON , LONDON (GB) CHIEF LEGAL COUNSEL , NEDERLANDSE MEDEDINGINGSAUTORITEIT (N ETHERLANDS COMPETITION AUTHORITY ), THE HAGUE (NL) Last year saw the advent of a truly integrated European banking market coming one step closer with the takeover by a consortium of three banks, Banco Santander Central Hispano (BSCH) of Spain, Royal Bank of Scotland (RBS) and Belgian/Dutch Fortis, of a major European bank, ABN AMRO. This came after increased consolidation and cross-border M&A activity, such as the takeover of HypoVereinsbank by UniCredit in 2004, forming a major player in Germany, Austria and Italy, and the takeover of British mortgage lender Abbey by BSCH in 2005. ABN Amro itself had waged a major takeover battle for the Italian bank Banco Antonveneta, which it finally acquired in 2005 as a major cross-border inroad into the (then) closed Italian banking sector. The pace of market developments is so quick that, just when the takeover bid was sealed for ABN AMRO itself, new European legislation was adopted that had been inspired by ABN Amro's own adventures in Italy 1. This legislation 2 seeks to streamline the assessment of shareholders in financial sector entities on prudential grounds 3. The EC Merger Regulation 4 lays down the rules for a competition assessment above certain thresholds. It contains a prudential carve-out in Article 21 (4) that I consider not to be in line with the requirements of an internal market where national considerations of a prudential nature no longer hold, certainly after the Prudential Assessment of Acquisitions (Financial Sector) Directive just mentioned.
    [Show full text]
  • A CITIZEN's GUIDE to NATIONAL OIL COMPANIES Part a Technical Report
    A CITIZEN’S GUIDE TO NATIONAL OIL COMPANIES Part A Technical Report October 2008 Copyright © 2008 The International Bank for Reconstruction and Development/The World Bank 1818 H Street, NW Washington, DC 20433 and The Center for Energy Economics/Bureau of Economic Geology Jackson School of Geosciences, The University of Texas at Austin 1801 Allen Parkway Houston, TX 77019 All rights reserved. This paper is an informal document intended to provide input for the selection of a sample of representative national oil companies to be analyzed within the context of the Study on National Oil Companies and Value Creation launched in March 2008 by the Oil, Gas, and Mining Policy Division of The World Bank. The manuscript of this paper has not been prepared in accordance with the procedures appropriate to formally edited texts. Some sources cited in this paper may be informal documents that are not readily available. The findings, interpretations, and conclusions expressed herein are those of the author(s) and do not necessarily reflect the views of the International Bank for Reconstruction and Development/The World Bank and its affiliated organizations, or those of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. This report may not be resold, reprinted, or redistributed for compensation of any kind without prior written permission. For free downloads of this paper or to make inquiries, please contact: Oil, Gas, and Mining Policy Division Center for Energy Economics The World Bank Bureau of Economic Geology 2121 Pennsylvania Avenue, NW Jackson School of Geosciences Washington DC, 20433 The University of Texas at Austin Telephone: 202-473-6990 Telephone: +1 281-313-9753 Fax: 202-522 0395 Fax: +1 281-340-3482 Email: [email protected] E-mail: [email protected] Web: http://www.worldbank.org/noc.
    [Show full text]
  • Overview of the Ukrainian Oil and Gas and Shale Gas Market Opportunities
    1/25 Overview of the Ukrainian Oil & Gas and Shale Gas Market Opportunities by Lyubomyr Goncharuk Adviser to the Minister of Ecology and Natural Resources of Ukraine Canada - Ukraine Oil & Gas Opportunities Workshop, Kyiv, February 25-26, 2013 2/25 CONTENTS 1. Reserves & Resources 2. Production & Consumption 3. Opportunities Canada - Ukraine Oil & Gas Opportunities Workshop, Kyiv, February 25-26, 2013 3/25 1. Reserves & Resources Canada - Ukraine Oil & Gas Opportunities Workshop, Kyiv, February 25-26, 2013 4/25 Canada - Ukraine Four oil and gas provinces are recognized Oil & Gas Opportunities in the country, including 11 oil-gas Workshop, Kyiv basins and 35 prospective areas. February 25-26, 2013 Hydrocarbon deposits are being exploited for oil, gas, and condensate in the following regions: Oil & Gas 1/2 • A – the Eastern Region (Dniprovsko- Donetska Depression and northwestern Crystalline basement slopes portion of Donbas); Voronezhska Volyno- Podilska Dniprovsko-Donetska Depression A Plate • B – the Western Region (Volyno- B Kyiv Anticline Lvivskiy Podilska Plate, Fore-Carpathians, Trough Fore-Carpathian Trough Folded Carpathians Folded Carpathians, and Trans- Donbas Transcarpathians UKRAINIAN SHIELD Carpathians); • C – the Southern Region 200 km Fore-Crimean Depression (Prychornomorya, Crimea, and the Azov Sea Fore- exclusive marine economic zone of the Dobrugean C Scythian Trough Plate Black Sea and Azov Sea offshore). Black Sea Mountain Crimea 5/25 Canada - Ukraine In 2011, production amounted to 2.4 million Oil & Gas Opportunities tons of oil, 0.9 million tons of condensate, Workshop, Kyiv and 20.6 billion cubic meters of natural gas. February 25-26, 2013 The State Inventory includes 187 oil deposits Oil & Gas 2/2 (121 in production), 202 condensate deposits (142 in production), and 380 natural Crystalline basement slopes gas deposits (224 in production).
    [Show full text]
  • Consolidated Accounting Reports with Independent Auditor's
    PJSC GAZPROM Consolidated Accounting Reports with Independent Auditor’s Report 31 December 2020 Moscow | 2021 Contents Independent Auditor’s Report................................................................................................................... 3 Consolidated Balance Sheet ...................................................................................................................... 9 Consolidated Statement of Financial Results .......................................................................................... 11 Consolidated Statement of Changes in the Shareholders’ Equity ........................................................... 12 Consolidated Statement of Cash Flows .................................................................................................. 13 Notes to the Consolidated Accounting Reports: 1. General Information ....................................................................................................................... 14 2. Significant Accounting Policies and Basis of Presentation in the Consolidated Accounting Reports ......................................................................................................................................... 14 3. Changes in the Accounting Policies and Comparative Information for Previous Reporting Periods .......................................................................................................................................... 20 4. Segment Information .....................................................................................................................
    [Show full text]
  • Senate Inquiry Into Corporate Tax Avoidance and Minimisation
    Shell Australia Pty Ltd Committee Chair ABN 14 009 663 576 Senate Economics References Committee 2 Victoria Avenue PO Box 6100 Perth WA 6000 Parliament House Australia CANBERRA ACT 2600 Tel +61 8 9338 6000 Internet www.shell.com.au Correspondence 29 July 2015 PO BOX A47 CDC Perth WA 6837 Senate Inquiry into corporate tax avoidance and minimisation Shell Australia1 welcomes the opportunity to make this submission in response to your letter of 14th July 2015. 1. Background – About Shell Shell2 is a global group of energy and petrochemical companies, with its headquarters in The Hague, the Netherlands. Shell operates in over 70 countries around the world and employs around 94,000 people. In April 2015, the Boards of Royal Dutch Shell plc and BG Group plc agreed the terms of a proposed merger. The parties are targeting completion of the transaction in early 2016 and are currently seeking regulatory approvals in a number of jurisdictions. Subject to obtaining these approvals, the companies’ shareholders will then be asked to support the proposal. Shell in Australia Shell has been in Australia since 1901 and the Australian business forms an important part of Shell’s global natural gas business. Historically, our significant investments in Australia spanned across both the downstream and upstream sectors. In 2014 Shell sold its downstream refining, marketing and retail distribution operations to Vitol, and our business is now largely focused within the upstream sector – although Shell continues to supply aviation fuels and lubricants. 1 “Shell Australia” refers to Shell Australia Pty Ltd or any of the members of the Australian tax consolidated group of which Shell Energy Holdings Australia Ltd (SEHAL) is the head company.
    [Show full text]
  • Advisory Services and Technical Assistance to NJSC Naftogaz of Ukraine and the Government
    INTEGRATED SAFEGUARDS DATA SHEET CONCEPT STAGE Report No.: 89642 Date ISDS Prepared/Updated: July 15, 2014 Public Disclosure Authorized I. BASIC INFORMATION A. Basic Project Data Country: Ukraine Project ID: P151927 Project Name: Advisory Services and Technical Assistance to NJSC "Naftogaz of Ukraine" and the Government of Ukraine on the Reform of the Natural Gas Sector Task Team Leader: Yadviga Semikolenova Estimated Appraisal Date: July, 25 2014 Estimated Board Date: Public Disclosure Authorized Managing Unit: GEEDR Lending Instrument: Sector(s): Oil and Gas Theme(s): Corporate Governance; State-Owned Enterprise Restructuring and Privatization; Regulation and Competition Policy Is this project processed under OP 8.50 (Emergency Recovery) or OP 8.00 No (Rapid Response to Crises and Emergencies)? Financing (in USD Million) Total Project Cost: EURO 2,035,000 Total Bank Financing: Total Cofinancing: Financing Gap: Public Disclosure Authorized Financing Source Amount BORROWER/RECIPIENT 0 Single Donor (EC) Trust Fund EURO 2,035,000 Total EURO 2,035,000 Environmental Category C Is this a Repeater project? No Is this a Transferred No project? B. Project Objectives Public Disclosure Authorized The objective of the project is to provide advisory services and technical assistance to NJSC "Naftogaz of Ukraine" and the Government of Ukraine on the reform and restructuring of the natural gas sector through: providing support the Government of Ukraine to develop and implement the outstanding key 1 reforms in the gas sector that are necessary for Ukraine to fulfill the legal commitments undertaken in the framework of membership of the Energy Community; and providing advisory services, in the form of a Project Implementation Unit (PIU), to NJSC "Naftogaz of Ukraine" to prepare bankable projects and to oversee their implementation together with the IFIs (EBRD and EIB).
    [Show full text]
  • Artikel Ruud Pruijm E-Magazine Mei 2007 "Meer
    Prof. dr. Ruud Pruijm RA COrpOraTE GOVernanCE hoogleraar corporate governance Meer mogelijk maken de “klucht” rond ABN AMRO “The bogeyman I am now chasing is the structure of ons is dat een brug te ver.” American corporations.” –Carl Icahn. 26 februari: Vanuit Den Haag wordt er ook op de SOS-boodschap gereageerd. Op initiatief van Ewout Inleiding Irrgang van de SP gaat Tweede Kamer een hoorzitting Na Stork, heeft nog nooit een activistische aandeel- houden om te onderzoeken of er maatregelen nodig houder zoveel commotie veroorzaakt als het Lon- zijn om strategisch cruciale sectoren te beschermen dense hedge fund The Childeren Investment Fund tegen activistische aandeelhouders. Het lijkt ironisch (TCI) bij onze nationale trots ABN Amro. In een pe- dat onvervalste socialisten een kapitalistisch bolwerk riode van tien weken was er bijna elke dag iets nieuws gaan beschermen. Maar dat is niet verwonderlijk. te melden en liepen de emoties steeds hoger op. In Ewout kent naar eigen zeggen het verschil niet tussen dit artikel zal ik kort de feiten op een rij zetten en een hedge funds en private equity. analyse maken van de affaire. Het theater van de lach 27 februari: De beschermer van de aandeelhouders Als je alle gebeurtenissen van de afgelopen periode mengt zich ook in het gewoel. De VEB heeft grote op een rij zet ontkom je bijna niet aan het beeld van bezwaren tegen de uitlatingen van DNB en heeft een zo’n ouderwetse komedie van Het Theater van de klacht ingediend bij commissarissen. DNB moet zich Lach van John Lanting. U herinnert zich dat mis- beperken tot toezichthoudende taak en geen uitspra- schien nog wel: een huiskamer op het toneel waarin ken doen over individuele gevallen.
    [Show full text]