Europe, Middle East and Africa Oil and Gas Correspondent
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Apr 13, 2015

Oil companies’ profits hit by quest for crude price exposure

LONDON (Reuters) – The drop in big oil companies’ profits in the past eight months isn’t just a function of lower crude prices – it also reflects strategic choices.

A Reuters examination of corporate filings by some of the biggest players in the industry, including BP (BP.L: Quote, Profile, Research, Stock Buzz), Shell (RDSa.L: Quote, Profile, Research, Stock Buzz) and France’s Total (TOTF.PA: Quote, Profile, Research, Stock Buzz), shows the sensitivity of these companies’ earnings to changes in oil prices has risen in recent years.

Apr 8, 2015

Shell-BG deal could face bumpy ride from partner rights

LONDON (Reuters) – Royal Dutch Shell Plc’s (RDSa.L: Quote, Profile, Research, Stock Buzz) agreed $70 billion takeover of rival BG Group (BG.L: Quote, Profile, Research, Stock Buzz) could trigger pre-emption rights in key oil and gas fields that would erode the potential benefits of the deal for the Anglo-Dutch oil giant.

Shell said a main driver of its bid for BG Group was the gas-focused British group’s position in Brazil. Two exploration blocks, named BM-S-9 and BM-S-11, account for almost all the value of BG’s Brazil assets.

Apr 8, 2015

Shell takeover could net BG’s CEO over 32 million pounds

LONDON (Reuters) – Royal Dutch Shell Plc’s agreed takeover of BG Group Plc will trigger payouts for BG Chief Executive Helge Lund that could see his pay for his first year top 32 million pounds ($47.8 million), a Reuters analysis of corporate filings shows.

In December, BG Group was forced to scale back a planned pay deal for Lund potentially worth around 25 million pounds for his first year, under pressure from investors.

Apr 8, 2015

Shell takeover could net BG’s CEO over $48 mln

LONDON, April 8 (Reuters) – Royal Dutch Shell Plc’s
agreed takeover of BG Group Plc will trigger payouts for
BG Chief Executive Helge Lund that could see his pay for his
first year top 32 million pounds ($47.8 million), a Reuters
analysis of corporate filings shows.

In December, BG Group was forced to scale back a planned pay
deal for Lund potentially worth around 25 million pounds for his
first year, under pressure from investors.

Mar 25, 2015

Special Report: Top UK industrialist channeled millions through obscure company

ROCESTER, England (Reuters) – A leading British industrialist and political donor has channeled more than half a billion pounds through an obscure company that isn’t required to file financial accounts, a Reuters analysis of corporate filings shows.

Much of the money allegedly ended up being paid to the industrialist himself, according to claims in court documents.

Mar 25, 2015

Top UK industrialist channelled millions through obscure company

ROCESTER, England, March 25 (Reuters) – A leading British
industrialist and political donor has channelled more than half
a billion pounds through an obscure company that isn’t required
to file financial accounts, a Reuters analysis of corporate
filings shows.

Much of the money allegedly ended up being paid to the
industrialist himself, according to claims in court documents.

Mar 13, 2015

Weak euro to help European companies, force U.S. rivals to adapt

LONDON (Reuters) – The euro’s slide toward parity with the dollar will provide a much-needed boost for European companies this year and force U.S. rivals to adapt their businesses or risk losing market share.

While currency hedging arrangements mean the benefits may not be seen straight away, the currency’s weakness has already cheered European chief executives by making their products cheaper overseas and lifting the value of dollar-based sales.

Mar 11, 2015

Google change allows company statements to top news searches

LONDON, March 11 (Reuters) – A little-noticed change in the
way Google selects search results has allowed company
statements to top the list of news links shown when users search
for information on businesses.

The measure may cost news publishers web traffic and risks
misleading users, analysts said.

Feb 23, 2015

Below the radar, growth in Europe starts swelling company profits

LONDON/PARIS, Feb 23 (Reuters) – Signs of a long-awaited
recovery in Europe are starting to show through in the profits
of leading global companies, even if their bosses are still
giving most of the credit to strong demand in Asia or the United
States.

Reuters has analysed comments from more than 50 of the
biggest companies selling in Europe, which in recent weeks have
mostly reported improving global earnings. In investor
presentations and analyst calls, 71 percent said they enjoyed a
swing from contraction to growth in Europe last year, or
experienced a pickup in growth.

Feb 16, 2015

UK financial watchdog investigates HSBC over tax claims

LONDON, Feb 16 (Reuters) – Britain’s financial watchdog said
it was investigating HSBC following reports it helped clients
evade taxes but said it was focusing on the bank’s current
behaviour rather than alleged past abuses.

In its first statement on the matter, the Financial Conduct
Authority (FCA) said it wanted to verify that the “failings” the
bank admitted to were in the past.

    • About Tom

      "Tom leads our coverage of the oil and gas industry in Europe, the Middle East and Africa and is also author of 'Spills & Spin: The Inside Story of BP'. A former oil broker who turned to journalism 12 years ago, he is regularly interviewed on CNBC and other TV and radio stations on energy matters. Tom has reported from over twenty countries including Iran, Iraq, India, Pakistan, Tanzania, the U.S. and Russia. As Europe, Middle East and Africa Oil & Gas Correspondent, he has chartered the rise in oil prices to record levels, interviewed oil ministers and the CEOs of ..."
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