Results on Thursday are expected to reveal a 39% surge in underlying earnings to 21.9 billion US dollars (£16.8 billion) for 2018, up from 15.8 billion US dollars (£12.1 billion) in 2017.
This would mark its highest profits since 2014 and comes after Shell hailed one of its “strongest ever quarters” for the three months to September as higher oil prices drove earnings up 37%.
But fourth-quarter results may take the shine off the performance after oil prices went into reverse since reaching a heady high of nearly 87 US dollars (£66) a barrel in October.
Having steadily rebounded since 2016 after a long and painful rout, the crude price rally finally ran out of steam last autumn amid fears of a slowdown in demand as global growth eases, combined with rising inventories.
The price of Brent crude ended the year lower than it did at the start – closing the year at 54 US dollars (£41) a barrel compared with 67 (£51) in January.
The Share Centre said: “The oil major has been reporting great numbers as average oil prices made steady progress since the lows of 2016.
“However, given the anticipation of higher supplies from shale and Iranian oil supplies not expecting to fall back as dramatically as previously expected, oil prices during the final quarter wobbled, which will no doubt hit Shell’s numbers.”
In the third quarter, Shell reported underlying earnings, on a current cost of supplies basis, of 5.6 billion US dollars (£4.3 billion) for the three months to the end of September.
Dramatic cost-cutting has also been giving Shell a boost, while it has likewise been selling off assets.
Boss Ben van Beurden has been focusing on an ambitious cost-cutting drive and a 30 billion US dollar (£23 billion) divestment initiative since the industry has been buffeted by the 2014 oil price crash.
By November, it had so far completed 28 billion US dollars (£21.5 billion) of the programme and has signed off on another 4 billion US dollars (£3.1 billion).
It also announced it would buy up to 2.5 billion US dollars (£1.9 billion) of shares in the second tranche of its buyback programme.
The group first launched the share buyout plan in July, having promised the move to investors since taking over rival BG Group in a mammoth 54 billion US dollar (£41 billion) deal in 2016
Telit Introduces New Smaller IoT Form Factor Module Family
PR Newswire (US)
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Today : Monday 15 October 2018
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LONDON, Oct. 15, 2018 /PRNewswire/ -- Telit, a global enabler of the Internet of Things (IoT), today announced the xE310 family of miniature IoT modules. With initial models planned in LTE-M, NB-IoT and European 2G, the new form factor will enable Telit to meet growing demand for ultra-small, high-performance modules for wearable medical devices, fitness trackers, industrial sensors, smart metering, and other mass-production, massive deployment applications. Telit will start shipping xE310 modules in Q4 this year.
SFO suspends Unaoil case lawyer weeks before new chief arrives
Tom Martin, who has worked at the agency since 2014, has been suspended from his role, Sky News understands.
Sunday 12 August 2018
Serious Fraud Office
The Serious Fraud Office
By Mark Kleinman, City editor
The senior lawyer in charge of one of the Serious Fraud Office's biggest criminal investigations has been suspended just weeks before the agency's new director arrives in her post.
Sky News has learnt that Tom Martin, who has been managing the SFO's sprawling probe into Unaoil, a Monaco-based oil consultancy, was suspended within the last few weeks for gross misconduct.
The details of any alleged wrongdoing by Mr Martin were unclear this weekend, including whether or not it relates to the Unaoil case.
Two people close to the SFO said they were aware of rumours of his suspension but that they had not been notified of the reasons for it.
Mr Martin, who has been a case controller and senior lawyer at the fraud-busting agency for just over four years, could not be reached for comment.
Emails to him were responded to with an automatic reply saying: "I am not in the office at present. Please contact a member of the relevant case team for further assistance."
Mr Martin was previously a lawyer at the Financial Reporting Council, the accountancy watchdog, where he also spent four years.
The SFO's case against Unaoil is one of the agency's largest criminal investigations, and has led to a number of charges against the company and individuals in relation to payments made to secure a $733m (£574m) pipeline construction project in Iraq.
Criminal proceedings against the company were launched in June following a two-year inquiry which began after the Melbourne-based newspaper The Age published reports about companies' use of consultants to win contracts in regions including the Middle East.
The Unaoil case will be among the most important inherited by Lisa Osofsky, a veteran of roles fighting financial crime, when she replaces David Green as the SFO's director, David Green, next month.
A dual UK-US citizen, Ms Osofsky was appointed by Jeremy Wright, the-then Attorney-General, in June.
The SFO is continuing to proceed with criminal cases against a number of former Barclays directors over its emergency fundraisings during the 2008 financial crisis.
Last month, it applied to the High Court to reinstate charges against the bank itself in relation to the same investigation.
Other blue-chip corporate names which have been targeted by the SFO in recent years include GlaxoSmithKline, Rolls-Royce and Tesco.
The agency has been facing a battle for survival, with Prime Minister Theresa May a strong advocate of merging it into the National Crime Agency during her previous tenure as Home Secretary.
The SFO has been reprieved, however, and now appears to have been assured of an independent future.
At the time of her appoi
RedstoneConnect Achieves G-Cloud 10 Supplier Status
16 July, 2018
RedstoneConnect is delighted to announce that it has been successful in its bid to supply cloud hosting, software and support services through G-Cloud 10, the government’s procurement system that enables all public sector organisations to find supplier, technologies and people for digital projects.
The Group, comprising Connect IB (software development) and A+K (smart technology distribution), has provided essential Smart workplace solutions for central government, local government, health, education, devolved administrations, emergency services, defence and not-for-profit organisations, as part of its G-Cloud 9 Framework agreement obtained last year.
Keeping the momentum going sees RedstoneConnect offer services including the deployment, management and running of software and the development of complete digital solutions. Through Connect IB, the Group will also offer support in content management, wayfinding, TIMS and its very own OneSpace solution. .
Commenting on the agreement, Group Sales and Marketing Director, Steven Black said: “The G-Cloud Framework offers great benefits to buying organisations within the UK public sector by allowing them to procure cloud services that are fully EU compliant and regularly refreshed, therefore ensuring the best that the market has to offer is available.
“This shows that our Smart solutions truly deliver on every count, but not only that, we also deliver the optimal strategies that will enable public sector organisations to maximise our digital innovations to fully enable enhanced productivity, efficiencies and optimal growth.”
RedstoneConnect’s Smart technologies will ultimately drive savings for the public sector and improve the quality of commercial and procurement activity. It will also push the mainstream adoption of cloud-based services by government organisations and local authorities who are looking for cost efficient, competitive and custom built solutions.
On 16 July 2018, the Company was notified that on that same day, Simon Duffy, non-executive chairman, bought 11,657 ordinary shares of 1p each ("Ordinary Shares") at 171.3 pence per share. Simon Duffy's resultant beneficial interest in the Company is 11,657 Ordinary Shares representing 0.009% of the issued share capital of the Company.
On 16 July 2018, the Company was notified that on that same day Miriam Greenwood, non-executive director, bought 11,500 Ordinary Shares at 171.6 pence per share. Miriam Greenwood's resultant beneficial interest in the Company is 11,500 Ordinary Shares representing 0.009% of the issued share capital of the Company.
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More Steven Black Retweeted RedstoneConnect
Good luck to all the finalist and well done to the development team, this software is gathering interest at from all over the globe
"The Chinese government is in early-stage talks to buy a big minority stake in Britain’s fleet of nuclear power stations, The Sunday Times can reveal.
China General Nuclear (CGN), the country’s state-run nuclear giant, is understood to have made an approach about acquiring a share of up to 49% in the eight power stations, which generate a fifth of the nation’s electricity. The stake, worth up to £4bn, is being sold by Centrica, the parent company of British Gas, and the French giant EDF..........."