Shell biggest proffits in history

[Adrian W]

And it's got nothing to do with us paying more for petrol etc.

[cqueen]

Good for them.

[speedy_thrills]

Adrian W said:

And it's got nothing to do with us paying more for petrol etc.

Your more than welcome to start your own oil company or invest if you want .

It’s like when conspiracy theorists declare that banks will end up owning everything due to fractional reserve banking, I always point out that perhaps they should buy shares in banks .

[ASBO]

But yet all their profit is now coming from the Asia, Africa and the Gulf of Mexico.

Shell's North Sea Presence is now virtually non-existent.

[Adrian W]

ASBO said:

But yet all their profit is now coming from the Asia, Africa and the Gulf of Mexico.

Shell's North Sea Presence is now virtually non-existent.

I thought most of there profit was coming from Exploration and oil production, which eventually gets sold to us as petrol/desiel/oil

[krusty]

14 Billion.... Nice one.... Hopefully that'll result in a lot of reinvestment.

[Olf]

krusty said:

14 Billion.... Nice one.... Hopefully that'll result in a lot of reinvestment.

It will have to. Shell is still fighting hard to regain credibility after over-claiming on proven reserves up to a couple of years ago.

They have gone through a massive internal restructure and have hired many new exploration specialists to try and find the next hit. I think it was only a few weeks ago that a massive investment was announced in Siberia with Gazprom, the sort of investment that makes that profit look a little more palatable.

[Morningside]

You can be sure of Shell.
Anyhow I thought Mr. Brown gave the north sea (gas/oil fields) a one-off windfall 'tax' a couple of years back?

[Olf]

Morningside said:

You can be sure of Shell.
Anyhow I thought Mr. Brown gave the north sea (gas/oil fields) a one-off windfall 'tax' a couple of years back?

They might be spending that on the £100 billion bill for decommisioning the north sea rigs and infrastructure over the next 25 years or so.

[spaximus]

This is good news all round, unless you are a wit of a union leader (Tony Woodley unite) who is demanding a windfall tax. The coporation tax they will pay to the uk is huge and the shareholders will do well, and that is everyone with a pension. I cannot belive how these dimwits can turn success like this into a problem.

[ASBO]

Adrian W said:

ASBO said:

But yet all their profit is now coming from Asia, Africa and the Gulf of Mexico.

Shell's North Sea Presence is now virtually non-existent.

I thought most of there profit was coming from Exploration and oil production, which eventually gets sold to us as petrol/desiel/oil

Sorry ?

It still is/was, just not from the North Sea

[Adrian W]

spaximus said:

This is good news all round, unless you are a wit of a union leader (Tony Woodley unite) who is demanding a windfall tax. The coporation tax they will pay to the uk is huge and the shareholders will do well, and that is everyone with a pension. I cannot belive how these dimwits can turn success like this into a problem.

Corporation tax is only 30% and thats after they have capatalised and depreciated everything thay possibly can, with such a complicated consolidation none of us will ever know the number they first thought of.

You could say good luck to them, but i'm sure all of the other oil companies are going to report similar spectacular results

[steve996]

Adrian W said:

spaximus said:

This is good news all round, unless you are a wit of a union leader (Tony Woodley unite) who is demanding a windfall tax. The coporation tax they will pay to the uk is huge and the shareholders will do well, and that is everyone with a pension. I cannot belive how these dimwits can turn success like this into a problem.

Corporation tax is only 30% and thats after they have capatalised and depreciated everything thay possibly can, with such a complicated consolidation none of us will ever know the number they first thought of.

You could say good luck to them, but i'm sure all of the other oil companies are going to report similar spectacular results

North Sea oil production operations are taxed at a 50% corp tax rate, not 30.

[Olf]

Adrian W said:

spaximus said:

This is good news all round, unless you are a wit of a union leader (Tony Woodley unite) who is demanding a windfall tax. The coporation tax they will pay to the uk is huge and the shareholders will do well, and that is everyone with a pension. I cannot belive how these dimwits can turn success like this into a problem.

Corporation tax is only 30% and thats after they have capatalised and depreciated everything thay possibly can, with such a complicated consolidation none of us will ever know the number they first thought of.

You could say good luck to them, but i'm sure all of the other oil companies are going to report similar spectacular results

Just for balance. Shell invested about $2bn a month in 2007.

Oil doesn't come cheap end of.

[ASBO]

steve996 said:

Adrian W said:

spaximus said:

This is good news all round, unless you are a wit of a union leader (Tony Woodley unite) who is demanding a windfall tax. The coporation tax they will pay to the uk is huge and the shareholders will do well, and that is everyone with a pension. I cannot belive how these dimwits can turn success like this into a problem.

Corporation tax is only 30% and thats after they have capatalised and depreciated everything thay possibly can, with such a complicated consolidation none of us will ever know the number they first thought of.

You could say good luck to them, but i'm sure all of the other oil companies are going to report similar spectacular results

North Sea oil production operations are taxed at a 50% corp tax rate, not 30.

Which is another reason why the big guns are pulling out.

[Zod]

It's my fault for drivinfg a car that gives me an average of 12mpg on Optimax.

[JagLover]

They are making big profits now, but it is regarded as a bad sign that they have delayed release of their reserves figure.

[ASBO]

Zod said:

It's my fault for drivinfg a car that gives me an average of 12mpg on Optimax.

Think of the Kids.

Slightly O/T, but 'tother day one of our clients praised me for doing my bit for oil consumption, which given that our government is so heavily relaint on the industry, is slightly ironic

[danrc]

Keep it coming Shell - the more you make, the better i do

[Adrian W]

Olf said:

Adrian W said:

spaximus said:

This is good news all round, unless you are a wit of a union leader (Tony Woodley unite) who is demanding a windfall tax. The coporation tax they will pay to the uk is huge and the shareholders will do well, and that is everyone with a pension. I cannot belive how these dimwits can turn success like this into a problem.

Corporation tax is only 30% and thats after they have capatalised and depreciated everything thay possibly can, with such a complicated consolidation none of us will ever know the number they first thought of.

You could say good luck to them, but i'm sure all of the other oil companies are going to report similar spectacular results

Just for balance. Shell invested about $2bn a month in 2007.

Oil doesn't come cheap end of.

reinvesting is tax efficient, in percentage terms a lot of companies invested much more. I know if i showed those sort of superprofits my customers would walk but when it comes to fuel we cant