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    1RATIO ANALYSIS OF

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    INTRODUCTION OFSHELL

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    Shell is a global group of energy and petrochemical companies. With around 102,000 employeesin more than 100 countries and territories, we help to meet the world's growing demand forenergy in economically, environmentally and socially responsible ways.

    We believe that oil and gas will be integral to the global energy needs for economic developmentfor many decades to come. Our role is to ensure that we extract and deliver them profitably and inenvironmentally and socially responsible ways.

    Our strategy and priorities for the future are "more upstream and profitable downstream." We arefocusing on delivery and growth, leveraging our strong portfolio. Read more about our strategyand major projects.

    Our core values of honesty, integrity and respect for people have formed the basis of our GeneralBusiness Principles for 30 years and remain as important as ever. Read the Shell GeneralBusiness Principles.

    We are convinced that our short- and long-term business success depends on findingenvironmentally and socially responsible ways to help meet the worlds future energy needs. Find

    out more on our Responsible Energy website.

    For more than 100 years our logo the "Pecten", the name "Shell" and our distinctive red andyellow colours have identified the Shell brand and promoted our corporate reputation. Learnabout Shell's history.

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    HISTORY OF SHELL

    The beginningsIn 1833, shopkeeper Marcus Samuel decided to expand his London business. He sold antiques,but now added oriental shells. He aimed to capitalize on a fashion for using them in interior

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    design. His instinct was right - such was the demand that Samuel quickly began importing shellsfrom the Far East, laying the foundations for his import/export business.

    Early beginnings

    Marcus Samuel

    The market for oil remained confined to lighting and lubricants until, in 1886, the internalcombustion engine and demand for gasoline arrived with Karl Benz and the first Mercedes. Bynow the Samuel business had passed to Marcus Samuel junior and his brother Sam. Theyexported British machinery, textiles and tools to newly industrialising Japan and the Far East andon return imported rice, silk, china and copperware to the Middle East and Europe. In London,they traded in commodities such as sugar, flour and wheat worldwide.

    It was during a trip to Japan that Marcus became interested in the oil exporting business thenbased in Baku, Russia. The Rothschilds had invested heavily in the 1880s in rail and tunnels toovercome the transport difficulties of getting oil from this landlocked base to the Black Sea andfrom there to overseas markets. Shipping still posed a problem as the oil was carried in barrels,which could leak and took up much space in the ships hold.

    Revolutionizing oil transportation

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    Painting of the first bulk tanker, the "Murex"

    Marcus and Sam commissioned a fleet of steamers to carry oil in bulk, using for the first time theSuez Canal. They also set up bulk oil storage at ports in the Far East and contracted with Bnito, aRussian group of producers controlled by the Rothschilds, for the long-term supply of kerosene.Their strategy was high-risk: if news of their operations got out they would be squeezed out byRockefellers dominant Standard Oil. With the maiden voyage of the first bulk tanker, theMurex, through the Suez Canal in 1892 the Samuels had achieved a revolution in oiltransportation. Bulk transport substantially cut the cost of oil by enormously increasing thevolume that could be carried. The Samuel brothers initially called their company The TankSyndicate but in 1897 renamed it the Shell Transport and Trading Company.

    Petroleum was also being produced in the East Indies, a Dutch colony, and in 1890 a companyhad been formed to develop an oilfield in Sumatra. This was the origins of what was to becomethe Royal Dutch Petroleum Company. Under the management of J.B. August Kessler, they built apipeline and refinery at Pankalan Brandan. Kessler was joined in 1896 by a dynamic young

    marketing director, Henry Deterding, who was to become a dominant figure in the company untilthe outbreak of the Second World War. Faced with the competition from the Samuels low bulktransport costs, Royal Dutch began the construction of tankers and bulk storage installations andset up its own sales organisation.

    Seeking new oil sources

    By the turn of the century, Marcus Samuel had become the model of an Edwardian plutocrat witha grand house in London and a country mansion, which had been bought lock, stock and barrelwith furniture, pictures and parkland from Lord Romney. He kept horses and carriage and wasactive in public life in the City of London. He was knighted in 1898, became Lord Mayor ofLondon and was a leading figure in the London business community. But Marcus Samuelsdependence on Russian producers left him vulnerable and he decided to seek other sources of oil.

    The Far East was the obvious place to look and his first venture into Borneo brought him upagainst Royal Dutch Petroleum, one of the regions biggest competitors. The two companies

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    joined forces to protect themselves against the might of Standard Oil, forming a sales organisationin 1903, the Asiatic Petroleum Company. The discovery of oil in Texas offset a series of troubleswhich had affected both companies.

    In 1904, the scallop shell or pecten replaced Shell Transports first marketing logo, a mussel shell.In various forms it has remained in use ever since, becoming one of the best known corporatesymbols in the world.

    Merger into the Royal Dutch Shell Group

    The full merger of the two companies into the Royal Dutch Shell Group came in 1907. Therewere two separate holding companies with Royal Dutch taking 60% of earnings and ShellTransport taking 40%. The business was run by a variety of operating companies. The mergertransformed the fortunes of both companies. Under the management of Henry Deterding theyturned from struggling entities to successful enterprises within twelve months.

    The Group rapidly expanded across the world. Marketing companies were formed throughoutEurope and in many parts of Asia. Exploration and production began in Russia, Romania,Venezuela, Mexico and the United States.

    The first twelve years also provided many exciting opportunities to demonstrate the quality of theproducts in the new, fast-developing market for gasoline. These included record-breaking races,flights and journeys of exploration. In 1907, Prince Borghese won the Peking to Paris motor rallyon Shell motor spirit. The same fuel was used at the Brooklands racing track in the UK. In theAntarctic, Shackleton and Captain Scott used Shell fuel, while Bleriots inaugural cross-Channelflight was made on Shell spirit.

    The early 20th centuryDuring World War I Shell became the main fuel supplier of the British Expeditionary Force andprofited from increased after-war motor car use. By the end of the 1920s Shell was the worlds

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    leading oil company and founded Shell Chemicals. The 1930s depression forced Shell to reduceits staff and World War II led to the destruction of a lot of its properties.

    The First World War inevitably brought mixed fortunes for the Group. Shell made a major

    contribution to the Allies war effort by becoming the main supplier of fuel to the BritishExpeditionary Force. It was also the sole supplier of aviation fuel and it provided 80% of theArmys TNT. In addition it volunteered all its shipping to the British Admiralty. Thus it enhancedits reputation and its profits while it continued to develop in parts of the world unaffected by theconflict such as in Venezuela, Mexico and Sarawak. The war confirmed the supremacy of oil-fired transport over the slower and less flexible railway system that the Germans relied on. Lesshappily, the German invasion of Romania in 1916 saw 17 % of the Groups worldwideproduction destroyed in a few days, while in Russia the revolution saw all its assets seized.

    Prosperous inter-war years

    Alcock and Brown used Shell fuel to make the first trans-Atlantic flight in 1919

    The post war period began auspiciously when Alcock and Brown used Shell fuel to make the firsttrans-Atlantic flight in 1919. The inter-war years were a time of rapid expansion for the oilcompanies as the use of motor cars and demand for gasoline increased. There were huge gainsalso as major oil fields were discovered in California, South America and the Middle East,notably Iraq and Saudi Arabia. Drilling techniques made huge strides with the use of mud toregulate pressure in oil wells. The refining and downstream businesses also grew rapidly and in1929, Shell Chemicals was founded to advance the refinement of chemicals from oil.

    By the end of the 1920s Shell was the worlds leading oil company, producing 11% of the globescrude oil supply and owning 10% of its tanker tonnage. Its fuel quality was high, it wasdiversifying its product base and had an assured and prolific supply of oil from the Middle East.But the price of oil proved to be volatile and efforts to control the market by price-cutting orthrough an informal cartel with other oil majors were doomed to failure.

    Strategies, challenges and crises

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    The 1930s began with the Depression, forcing Shell to reduce its workforce and impose financialcuts. Even the annual sports day at the Lensbury club in London fell victim. But the decade sawmany advances: great progress in fuel and chemicals research and an explosion of brilliantadvertising with themes of power, purity, reliability, modernity and getting away from it all.

    Many designs have become classics.

    As a mark of confidence, the Group also purchased a large riverside plot on the Thames inLondon to build ShellMex House, one of the Groups landmark buildings round the world. TheShellMex company handled all the marketing of Shells products. Part of the growing maturity ofthe marketing activities was the development of the global network of service stations where carscould refuel. The service stations, with their distinctive appearance, helped build the Groupsreputation for reliability and quality.

    The shadow of war

    The 1930s saw oil politicised. Shells assets in Mexico were seized and to avoid a similar fate inVenezuela it was forced to concede generous terms to the government. In Europe the rise of theNazis posed a threat to the Groups Dutch assets. With the invasion of Holland after the outbreakof war in 1939, the head offices of the Dutch companies were moved to Curacao. The Londonoffice remained open but was dedicated to supporting the British war effort. Properties in EasternEurope were destroyed, particularly in Germany, and access to Rumania was lost. The USrefineries produced aviation fuel to support the Allied air forces. Shell Chemical Corporationproduced butadiene for synthetic rubber, a vital commodity. All tankers came under Governmentcontrol and Shell losses were heavy, totalling 87 ships.

    Many Shell staff displayed great bravery in keeping the tankers going and were duly rewarded.

    Most famous of them was the flying ace Douglas Bader whose inspirational story was told in thefilm Reach for the Sky. He worked in the Aviation Department of Asiatic Petroleum beforejoining the RAF in 1939. He returned to Shell after the war, a hero.

    Post-war expansion

    Shell's post-war years were marked by reconstruction and an ambitious expansion programme.Scientific advances and a growing number of cars in the US led to an exploding oil demand. Shellcontributed to the invention of the jet engine and in 1950 formed a partnership with Ferrari. In thelate 1950s the Groups structure was reorganised.

    A new order for the international oil industry

    The immediate post-war years were some of the toughest Shell had yet faced. Reconstruction washugely expensive. But the market for oil was changing rapidly and the Group needed aprogramme of ambitious expansion. New programmes of exploration began in Africa and South

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    America and new refineries were built in the UK. Shipping became larger and better powered sothat more bulk could be carried. The supertanker was born.

    Shell Oil's Marine drilling rig No. 10 in the Gulf of Mexico, 1950

    In 1947, the first commercially viable offshore oil well was drilled in the Gulf of Mexico. Twoyears later Shell drew its own first subsea oil there. By 1955 Shell had 300 offshore wells, mostlyin the Gulf. But there were also new discoveries in the Niger delta and in Borneo. Commercialproduction of oil in Nigeria began in 1958.

    The return of peace brought an explosion in civilian demand for oil products in particulargasoline in the USA, where the number of cars rose by 60% between 1945 and 1950. To end itssupply bottlenecks, Shell formed an alliance with Middle East Gulf Oil, giving it a substantialstake in this increasingly important region.

    Scientific advances increase oil demand

    A number of scientific advances also boosted demand for oil. Shell contributed to the invention ofthe jet engine - its architect Sir Frank Whittle worked for the Group for a number of years. The1940s also saw the development of the catalytic cracker, which was cheaper and more effectivethan its predecessor thermal cracking. Shells lubricants were also much improved. In 1950 Shellformed a partnership with Ferrari in Formula One to help develop its lubricants a partnershipwhich endures to this day.

    In 1953, as rationing finally ended, Shell in the UK was allowed for the first time since the war tosell petrol under its own brand name. It prompted a huge advertising campaign. It was a timewhen Shell used visiting artists and published its famous road guides, all of which contributed tobuilding the Shell brand.

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    New political reality

    But the sensitivity of the oil industry to volatile political environments was demonstrated byevents such as the sequestration of assets in Iran (1951-53) and in Egypt during the Suez crisis(1956-57). This new reality was to impinge more strongly on the Group in later decades. It ledto a new emphasis on security of supply; refineries would in future be built near their markets,crude oil would be transported through a network of pipelines and in more supertankers.

    In the late 1950s the Groups structure was reorganised, with new operating companies createdbelow the two holding companies and the setting up of a Committee of Managing Directors to setdirection. This structure was to survive for almost 40 years.

    In tandem with this reorganisation, work began in London on a major new headquarters building

    for Shell Transport, Shell Centre. When it opened in 1963 it was Londons tallest building. Othernew Shell buildings went up around the world, in Melbourne, Toronto and Caracas.

    1960s to the 1980sThe 1960s strengthened Shells presence in the Middle East. The Dutch Groningen gas field andNorth Sea gas were discovered and Shell Chemicals entered a golden period for research. The1973 oil crisis brought cheap energy to an end and Shell adopted a policy of diversification. In1976 Shell produced its General Business Principles.

    Shell opened the 1960s by strengthening its presence in the Middle East through involvement inOman. Ignoring early disappointments that saw its initial partners drift away, it was rewarded bydiscovering oil in Yibal in Omans most prolific field. It helped bring an entirely new oil countryinto production. The Groningen gas field in the Netherlands was also discovered at the start of the

    decade, closely followed by the discovery of gas in the North Sea.

    This was a golden period for research by Shell Chemicals and it employed a number ofdistinguished scientists including Lord Rothschild and Professor Sir John Cornforth. Amongmany inventions and discoveries in its laboratories were epoxy resins, insecticides includingVapona fly spray, herbicides and liquid detergents.

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    Increasing reliance on local skills and talents

    During the 1960s, Shell took the decision to internationalize the company. A policy of placinglocal people in top positions in a given country was adopted and the recruitment of Asians,

    Africans and South Americans was pursued, giving them as much independence as possible. Thisdiversification of staff reflected the wider political changes of the end of Empire and its attitudes,and this far-sighted decision took Shell into the modern world.

    Shipping developments

    The closure of the Suez Canal for eight years from 1967 confirmed the wisdom of the decision toinvest in supertankers. The worldwide spread of its business and its operating flexibility enabledShell to survive the disruption to supplies caused by the difficulty of transporting oil from theMiddle East.

    Another major development in shipping was the start of the transport of liquefied natural gas(LNG) by sea. The first commercial scheme by Conch International Methane, in which Shell helda 40 per cent interest, delivered LNG to the UK from Algeria for the first time in 1964. Furtherprojects followed, in particular delivery from Brunei to Japan starting in 1972.

    Political situation impacts supplies

    The S.S. Methane Princess carried the first consignment of liquefied natural gas (LNG) inOctober 1964

    Although the 1960s were years of remarkable growth for the oil industry and Shell, by the end ofthe decade, storm clouds were gathering. In late 1969, Colonel Ghaddafi took power in Libyaafter a coup. Libya at that time was the source for a quarter of all the crude oil consumed inEurope but the new government cut production and increased prices. This was the breaching ofthe dam and every other producing nation threatened to follow suit.

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    The Yom Kippur war of 1973 brought the crisis to a head. Within a matter of weeks, the OPECproducing countries quadrupled the price of oil from $3 per barrel to $12 per barrel and for twomonths imposed a supply boycott. The effects on the Western world were economicallycatastrophic, driving inflation to unforeseen heights and plunging trade into recession. An era of

    cheap energy had come to an end and oil was no longer a buyers market.

    Diversification

    To survive, Shell had adopted a policy of diversification in particular into coal, nuclear powerand metals. In 1970, it purchased Billiton, a metals mining company, an old-established Dutchcompany (later sold).

    In 1973, Shell moved into nuclear energy by forming a partnership with Gulf Oil to manufacturegas-cooled reactors and their fuels. The initial cost was $200 million but Shell quickly discoveredthat the political problems of the oil industry were multiplied in the nuclear industry, particularly

    after the accident at Three Mile Island in the USA in 1979, which set the industry back bydecades. The following year Shell sold its interests.

    The third leg of the diversification policy was coal, but success was limited.

    The 1970s were chiefly remarkable for Shells work in developing the oil fields in the North Sea.This was the most difficult offshore work the Group had ever undertaken. Although the water isnot particularly deep, the weather conditions are adverse and the instability of the sea-bednecessitated a huge investment to extract the oil. Reduced supplies from the Middle East,

    however, and the size of the fields in the North Sea justified the cost.

    General Business Principles

    The Amoco Cadiz disaster ended the decade. This tanker ran aground the coast of France andbroke up, spilling its entire crude oil cargo. Shell did not own the tanker but it did own the oil andit suffered the public backlash against oil companies as a result. The incident proved a catalyst forthe industry to raise environmental standards.

    In 1976, to ensure ethical business standards across Shells global operations, the Group drew upGeneral Business Principles. These, regularly updated, still govern Shells conduct in all itscountries of operation today.

    Further diversification

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    The Iranian revolution in 1979 triggered the second oil price shock as the supply of oil from thiscritically important country dried up. The Iran-Iraq war which began later that year added to thesupply problems: the price of oil doubled and carried on rising, reaching $7 a barrel. In responsethe Group sought cost saving, renewed its search for non-OPEC sources of oil and sought further

    diversification.

    In production, the Group stepped up its development of subsea exploration both in the North Seaand the United States. The development of the Cognac platform was a huge technicalachievement - at 1100 feet high it was a record breaking height.

    The Groups early steps into renewable energy began with solar heating with the acquisition of a50% interest in an Australian company Solarhart. It also moved into forestry, producingsoftwoods for paper, construction and fuel. Out of this came its interest in biomass integratedgasification, and eventually the new biofuels of which Shell is today the worlds leadingdistributor.

    1980s to the new millenniumIn the 1980s, Shell grew through acquisition and started some of its challenging offshoreexploration projects. During the 90s Shell founded its LNG business and at the beginning of themillennium it started moving into new growth areas in the East. In 2005, Royal Dutch and ShellTransport were unified under Royal Dutch Shell plc.

    Growth through acquisition

    In the 1980s, Shell sought to grow through acquisition. It bought out the remaining 30%shareholding in Shell Oil in 1985 to consolidate its American operations. This was a period ofconsolidation in the industry through mergers and acquisition activity a necessary move astrading conditions became difficult. Shell also sold down its stockpile, anticipating to some extentthe coming weakness in the oil price.

    Plummeting oil prices

    In 1986 the oil price collapsed. OPEC had lost power in the market place as other non-OPECsources came on stream, including the North Sea output. It had initially tried to ignore price

    pressures through cutting production but it abandoned this strategy in late 1985 and turned on thetaps. The price fell over the winter from $31 per barrel to $10.

    After years of living with a high oil price, the Group had to adjust to low prices, requiring achange in the way it judged investment projects. The budget was halved within two years: thecompany had to work much harder to develop new projects more cheaply. Intensive research led

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    to huge improvements in drilling techniques such as slim-hole drilling and directional drilling.The use of 3D seismic became widespread.

    Global markets and new technologies

    Troll production platform during its tow to site location 80 kilometres north west of Bergen inMay 1995 (Copyright of A/S Norske Shell)

    The 1980s saw the development of offshore exploration projects, which were in much morechallenging conditions than had previously been attempted. The Troll field in Norway was oneexample; another was in the Gulf of Mexico where a new well was drilled at a depth of 2.3kilometres, a new record.

    In 1989, the Communist regimes of Eastern Europe collapsed, reopening these markets for Shellfor the first time since the Second World War. The Group began to steadily accumulate assets; thefirst was a joint venture in auto retailing in Hungary, which rapidly grew to fifty outlets. But the

    more strategic ventures were in Russia which offered opportunities for joint productionagreements as well as marketing.

    The 1990s saw the technology of biomass fuels and Gas to Liquids make giant leaps forward. Thebasic technology had been established for several decades but the cheap, plentiful supplies ofcrude oil meant there had been little interest in developing it commercially. The opening of

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    Shells Bintulu plant in Malaysia in 1993 was a pioneering step, a precursor to the importanceGas to Liquids was to play in the Group in the following decade.

    Public scrutiny

    Shell was criticised over the Brent Spar episode in 1995, which centred on its plans to dispose ofthe storage platform. The Group learned that public opinion had become much more sensitive toenvironmental issues. In the next decade, the Group worked much harder to open a dialogue withinterested parties regarding its environmental impact and to develop good relations with thecommunities affected by its work.

    Another problem to hit the Group arose from its presence in the Nigerian region of Ogoniland.The tribal minority in the Ogoni were aggrieved with the Nigerian government because they feltdenied a proper share of federal revenues from the oil, and what they saw as other fundamentalhuman rights. Their champion was the writer Ken Saro-Wiwa. The oil companies were targeted

    as collaborators with the corrupt government. Shell was accused of environmentaldespoiliation. The story achieved international notoriety when Saro-Wiwa and eight of hiscolleagues were sentenced to death by hanging for their activities.

    Shell has since strived to follow a policy of demonstrating its community of interests andreciprocal good feeling with both the governments and the local populaces it deals with.

    The 1990s were notable for Shell for the development of the LNG gas business. Improvedtransportation and rising demand made this area of the Groups activities increasingly importantand are expected to continue to do so in the first decades of the twenty-first century.

    Meeting increasing energy demand

    Shell headquarters in the Hague, Netherlands

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    The turn of the century saw Shell begin to move into new growth areas of the world notablyChina and Russia. It has several huge oil and gas projects in development in Russia, at Salym andSakhalin, and it has built a massive petrochemicals plant in China to supply its rapidly-growingconsumer market. Oil exploration projects have become more complex as the Group finds itself

    working in increasingly hostile environments. Shells record of technological innovation iscritical to its ability to partner national governments keen to exploit their natural resources.

    The unification of Royal Dutch and Shell Transport the birth of Royal Dutch

    Shell

    In 2005, the Group underwent a major structural reorganisation as the near century oldpartnership between Royal Dutch and Shell Transport and Trading was dissolved and onecompany was created, Royal Dutch Shell. The headquarters of the new company are in theHague. July 5, 2007 marked the first centenary of the original partnership.

    Tackling the energy challenge

    Looking back over 100 years of history, it has been an amazing journey. Mankind has managed toadapt, time and time again, through a century of rapid change and periodic upheaval. So hasShell. There are big challenges in the century ahead, as well. Shell and other energy companiesmust find more energy to help keep the worlds economy humming, as places like China andIndia expand at a rapid clip. And they must do so in ways that safeguard society and theenvironment.

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    THE HISTORY OF THE

    SHELL LOGO

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    For more than 100 years the word Shell, our Pecten emblem and our distinctive red andyellow colours have identified the Shell brand and promoted our corporate reputation. Thesesymbols have stood not only for the quality of our products and services, but also as very visiblerepresentations of our professionalism and values in all of our business activities, and to all of ourstakeholders, around the world.

    The word "Shell" first appeared in 1891, as the trade mark for kerosene being shipped to the FarEast by Marcus Samuel and Company. This small London business dealt originally in antiques,curios and oriental seashells. These became so popular the Victorians used them to decoratetrinket boxes in particular that soon they formed the basis of the companys profitable importand export trade with the Far East.

    The word was elevated to corporate status in 1897, when Samuel formed The Shell Transportand Trading Company. The first logo (1901) was a mussel shell, but by 1904 a scallop shell orPecten emblem had been introduced to give a visual manifestation to the corporate and brandname.

    Exploring the origins

    The choice of a shell as an emblem was not surprising, as it was the company name. Also, each ofSamuels tankers carrying kerosene to the Far East had been named after a different seashell. Butwhy specifically was the scallop or Pecten chosen as the companys symbol in 1904? It wascertainly not the simplest shape to reproduce in printed form.

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    Both the word Shell and the Pecten symbol may have been suggested to Samuel and Co. byanother interested party. A Mr Graham, who imported Samuels kerosene into India and sold it asGrahams Oil, subscribed capital to, and became a director of, The Shell Transport andTrading Company.

    There is some evidence that the Shell emblem was taken from his family coat of arms. The StJamess Shell had been adopted by the Graham family after their ancestors made the pilgrimageto Santiago de Compostella in Spain. Whatever its origins, the original design was a reasonablyfaithful reproduction of the Pecten or scallop shell.

    When the Royal Dutch Petroleum Company and Shell Transport and Trading merged in 1907 itwas the latters brand name and symbol which then became the short form name (Shell) and thevisible emblem (the Pecten) of the new Royal Dutch/Shell Group. And so it has remained eversince.

    The form of the Shell emblem has changed gradually over the years in line with trends in graphicdesign. The current emblem was created by the great designer Raymond Loewy and introduced in1971. Thirty years on it stands the test of time as one of the worlds most recognised symbols.

    Why red and yellow?

    The exact origins of the Shell red and yellow are hard to define. True, Samuel and Company firstshipped kerosene to the Far East in tin containers painted red. But the link, once again, could bewith Spain.

    In 1915, when the Shell Company of California first built service stations, they had to competeagainst other companies. Bright colours were the solution, but colours that would not offend theCalifornians. Because of the states strong Spanish connections, the red and yellow of Spain werechosen.

    As with the Pecten, the actual colours have been modified over the years, most notably in 1995when a bright, fresh and very consumer friendly new Shell Red and Shell Yellow were introducedto launch Shells new retail visual identity. The Shell emblem - or Pecten - remains one of thegreatest brand symbols in the 21st Century.

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    LEADERSHIP OF

    SHELL

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    Royal Dutch Shell has a single tier Board of Directors chaired by a Non-executive Chairman,Jorma Ollila. The executive management is led by the Chief Executive, Jeroen van der Veer.

    Executive Committee

    The Executive Committee operates under the direction of the Chief Executive and is responsiblefor Royal Dutch Shell's overall business and affairs. The Chief Executive has final authority in allmatters of management that are not within the duties and authorities of the Board or of the AGM.The Executive Committee supports the Chief Executive and implements all Board resolutions andsupervises all management levels in Royal Dutch Shell.

    Jeroen van der Veer

    Chief Executive

    Peter Voser

    Chief Executive Designate (Chief Executive with effect from July 1, 2009)

    Simon Henry

    Chief Financial Officer

    Malcolm Brinded

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    http://www.shell.com/home/content/aboutshell/who_we_are/leadership/executive_committee/jeroen_vd_veer/bio_jeroenvanderveer_15042008.htmlhttp://www.shell.com/home/content/aboutshell/who_we_are/leadership/executive_committee/peter_voser/bio_petervoser_15042008.htmlhttp://www.shell.com/home/content/aboutshell/who_we_are/leadership/executive_committee/simon_henry/bio_simonhenry_01052009.htmlhttp://www.shell.com/home/content/aboutshell/who_we_are/leadership/executive_committee/malcolm_brinded/bio_malcolmbrinded_15042008.htmlhttp://www.shell.com/home/content/aboutshell/who_we_are/leadership/executive_committee/peter_voser/bio_petervoser_15042008.htmlhttp://www.shell.com/home/content/aboutshell/who_we_are/leadership/executive_committee/simon_henry/bio_simonhenry_01052009.htmlhttp://www.shell.com/home/content/aboutshell/who_we_are/leadership/executive_committee/malcolm_brinded/bio_malcolmbrinded_15042008.htmlhttp://www.shell.com/home/content/aboutshell/who_we_are/leadership/executive_committee/jeroen_vd_veer/bio_jeroenvanderveer_15042008.html
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    Executive Director Exploration & Production

    Linda Cook Gas & Power Director

    Mark Williams

    Downstream Director

    Roxanne Decyk

    Corporate Affairs and Sustainable Development Director

    Beat Hess

    Legal Director

    Hugh Mitchell

    Human Resources Director

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    http://www.shell.com/home/content/aboutshell/who_we_are/leadership/executive_committee/mark_williams/http://www.shell.com/home/content/aboutshell/who_we_are/leadership/executive_committee/roxanne_decyk/bio_roxanne_decyk_15042008.htmlhttp://www.shell.com/home/content/aboutshell/who_we_are/leadership/executive_committee/beat_hess/bio_beat_hess_28092007.htmlhttp://www.shell.com/home/content/aboutshell/who_we_are/leadership/executive_committee/hugh_mitchell/bio_hugh_mitchell_15042008.htmlhttp://www.shell.com/home/content/aboutshell/who_we_are/leadership/executive_committee/mark_williams/http://www.shell.com/home/content/aboutshell/who_we_are/leadership/executive_committee/roxanne_decyk/bio_roxanne_decyk_15042008.htmlhttp://www.shell.com/home/content/aboutshell/who_we_are/leadership/executive_committee/beat_hess/bio_beat_hess_28092007.htmlhttp://www.shell.com/home/content/aboutshell/who_we_are/leadership/executive_committee/hugh_mitchell/bio_hugh_mitchell_15042008.html
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    Board of DirectorsRoyal Dutch Shell has a single tier Board of Directors chaired by Chairman Jorma Ollila. Theexecutive management is led by the Chief Executive, Jeroen van der Veer. The members of theBoard of Royal Dutch Shell plc meet regularly to discuss reviews and reports on the business andplans of Royal Dutch Shell.

    Jorma Ollila

    Chairman

    Born August 15, 1950. A Finnish national, appointed Chairman of Royal Dutch Shell as from

    June 1, 2006. Previously he became Vice President of International Operations of Nokia in 1985.In 1986 he was appointed Vice President Finance of Nokia. Between 1990 and 1992 he served asPresident of Nokia Mobile Phones. Between 1992 and 1999 he was President and Chief ExecutiveOfficer of Nokia and from 1999 to June 1, 2006 he was Chief Executive Officer of Nokia. Prior tojoining Nokia, he started his career in banking at Citibank in London and Helsinki. He isChairman of the Board of Nokia.

    Chairman of the Nomination and Succession Committee

    Lord Kerr of Kinlochard GCMG

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    Deputy Chairman and Senior Independent Non-executiveDirector Chairman

    Born February 22, 1942. A British national, appointed a Non-executive Director of Royal DutchShell in October 2004. He was a Non-executive Director of Shell Transport from 2002 to 2005. A

    member of the UK Diplomatic Service from 1966 to 2002, he was UK Permanent Representativeto the EU, British Ambassador to the USA and Foreign Office Permanent Under Secretary ofState. He was Secretary-General of the European Convention (20022003), and in 2004 becamean independent member of the House of Lords and sits on the EU Select Committee. He is aNon-executive Director of Rio Tinto plc and the Scottish American Investment Company plc, aScottish Power Advisory Board member, Chairman of Imperial College, and a Trustee of theNational Gallery and of the Rhodes, Fulbright, and Carnegie Trusts.

    Member of the Nomination and Succession Committee and the Remuneration Committee

    Jeroen van der Veer

    Chief Executive

    Born October 27, 1947. A Dutch national, appointed Chief Executive of Royal Dutch Shell inOctober 2004. He was appointed President of Royal Dutch in 2000, having been a ManagingDirector of Royal Dutch since 1997, and was a Board member of Royal Dutch until the merger of

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    the company on December 21, 2005. He was a Director of Shell Canada Limited from April 24,2003 until April 29, 2005. He joined Shell in 1971 in refinery process design and held a numberof senior management positions around the world. He is a Non-executive Director of Unilever(which includes Unilever N.V., Unilever plc and Unilever Holdings Ltd.).

    Peter Voser

    Chief Executive Designate (Chief Executive with effect from July 1, 2009)

    Born August 29, 1958. A Swiss national, appointed Chief Financial Officer of Royal Dutch Shellin October 2004. He was appointed a Managing Director of Shell Transport and Chief FinancialOfficer in October 2004. In 2002 he joined the Asea Brown Boveri (ABB) Group of Companies,based in Switzerland as Chief Financial Officer and Member of the ABB Group ExecutiveCommittee. He first joined Shell in 1982 and held a variety of finance and business roles in

    Switzerland, the UK, Argentina and Chile, including Chief Financial Officer of Oil Products. Hewas a member of the Supervisory Board of Aegon N.V. from 2004 until April 25, 2006. He is amember of the Supervisory Board of UBS AG and a member of the Swiss Federal AuditorOversight Authority.

    Simon Henry

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    Chief Financial Officer

    Born July 13, 1961. A British national, joined Shell in 1982 as an engineer at the Stanlow refineryin the UK. After qualifying as a member of the Chartered Institute of Management Accountants in1989, he held various Finance posts, including Finance Manager of Marketing in Egypt,

    Controller for the Upstream business in Egypt, Oil Products finance adviser for Asia Pacific,Finance Director for the Mekong Cluster and, up to end 2000, General Manager Finance for theSouth East Asian Retail business. Following his appointment as Head of Group Investor Relationsin 2001 and Chief Financial Officer for Exploration and Production in 2004, he was appointedChief Financial Officer of Royal Dutch Shell in 2009.

    Malcolm Brinded CBE

    Executive Director Exploration & Production

    Born March 18, 1953. A British national, appointed an Executive Director of Royal Dutch Shellin October 2004. He was previously a Managing Director of Shell Transport from March 2004

    and prior to that a Managing Director of Royal Dutch from 2002. He joined Shell in 1974 and hasheld various positions around the world including in Brunei, the Netherlands and Oman. He wasalso Country Chair for Shell in the UK. He is a member of the Nigerian Presidential HonoraryInternational Investor Council, the Council of the Royal Academy of Engineering and a Trusteeof the Emirates Foundation, the Shell Foundation, and the International Business Leaders Forum.

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    Dr Josef Ackermann

    Non-executive Director

    Born February 7, 1948. A Swiss national, appointed a Non-executive Director of Royal Dutch

    Shell in May 2008. He is Chairman of the Management Board and the Group ExecutiveCommittee of Deutsche Bank AG. He was appointed to these positions in 2006 and 2002respectively. He joined Deutsche Banks Management Board in 1996, with responsibility for theinvestment banking division. He started his professional career in 1977 at SchweizerischeKreditanstalt (SKA), where he held a variety of positions in Corporate Banking, ForeignExchange/ Money Markets, Treasury and Investment Banking. In 1990, he was appointed toSKAs Executive Board, on which he served as President between 1993 and 1996. He is currentlyalso a member of the Supervisory Board of Siemens AG.Member of the Remuneration Committee

    Nick Land

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    Non-executive Director

    Born February 6, 1948. A British national, appointed a Non-executive Director of Royal DutchShell as from July 1, 2006. He qualified as an accountant in 1970 and was a partner of Ernst &

    Young LLP from 1978 until June 30, 2006. He was Chairman of Ernst & Young LLP and amember of the Global Executive Board of Ernst & Young Global LLP from 1995 until June 30,2006. He is a Non-executive Director of BBA Aviation plc, Ashmore Group plc, and VodafoneGroup plc and Director of Alliance Boots GmbH, Chairman of the Practice Advisory Board of theInstitute of Chartered Accountants of England and Wales, a member of the Advisory Board of theJudge Business School, and the Finance and Audit Committees of the National Gallery andAdvisor to Denton Wilde Sapte LLP.

    Member of the Audit Committee

    Sir Peter Job KBE

    Non-executive Director

    Born July 13, 1941. A British national, appointed a Non-executive Director of Royal Dutch Shellin October 2004. He was a Non-executive Director of Shell Transport from 2001 to 2005.Previously he was Chief Executive of Reuters Group plc. He is a Non-executive Director of

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    Schroders plc and TIBCO Software Inc. and a member of the Supervisory Board of DeutscheBank AG.

    Chairman of the Remuneration Committee

    Wim Kok

    Non-executive Director

    Born September 29, 1938. A Dutch national, appointed a Non-executive Director of Royal DutchShell in October 2004. He was a member of the Royal Dutch Supervisory Board from 2003 toJuly 4, 2005. He chaired the Confederation of Dutch trade unions (FNV) before becoming amember of the Lower House of Parliament and parliamentary leader of the Partij van de Arbeid(Labour Party). Appointed Minister of Finance in 1989 and Prime Minister in 1994, serving fortwo periods of government up to July 2002. Member of the Supervisory Boards of ING GroepN.V., KLM N.V. and TNT N.V.

    Chairman of the Corporate and Social Responsibility Committee and

    Member of the Nomination and Succession Committee

    Christine Morin-Postel

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    Non-executive Director

    Born October 6, 1946. A French national, appointed a Non-executive Director of Royal DutchShell in October 2004. She was a member of the Royal Dutch supervisory board from July 2004and was a Board member of Royal Dutch until the merger of the company on December 21, 2005.

    Formerly she was Chief Executive of Socit Gnrale de Belgique, Executive Vice-Presidentand member of the Executive Committee of Suez S.A. Chairman and CEO of Credisuez plc from1996 to 1998 and a Non-executive director of Pilkington plc and Alcan Inc. She is Non-executivedirector of 3i Group plc, British American Tobacco PLC and EXOR S.p.A.

    Chairman of the Audit Committee

    Lawrence Ricciardi

    Non-executive Director

    Born August 14, 1940. A US national, appointed a Non-executive Director of Royal Dutch Shell

    in October 2004. He was appointed a member of the Royal Dutch supervisory board in 2001 andwas a Board member of Royal Dutch until the merger of the company on December 21, 2005.Previously he was President of RJR Nabisco, Inc. and subsequently Senior Vice-President andGeneral Counsel of IBM. He is a Non-executive Director of Citigroup Inc., Senior Advisor to the

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    IBM Corporation as well as to Jones Day and to Lazard Frres & Co and Trustee of the AndrewW. Mellon Foundation and the Pierpoint Morgan Library.

    Member of the Audit Committee

    Hans Wijers

    Non-executive Director

    Born January 11, 1951. A Dutch national, Hans Wijers is Chief Executive Officer and Chairmanof the Board of Management of AkzoNobel. He joined AkzoNobel in 2002 as a Board member,and was appointed Chairman in May 2003. Mr Wijers studied Economics at the University ofGroningen and obtained a PhD in Economics in 1982 while teaching at the Erasmus UniversityRotterdam. Later he became senior consultant/partner with various Dutch consulting firms,including The Boston Consulting Group. He served as Dutch Minister for Economic Affairs from1994 to 1998, after which he returned to The Boston Consulting Group as Senior Vice-Presidentuntil his appointment as Board member of AkzoNobel. Mr Wijers is Chairman of the OranjeFonds, Vice-President of the Young Pianist Foundation and a member of the EuropeanRoundtable of Industrialists.

    Member of the Corporate and Social Responsibility Committee

    Michiel Brandjes

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    Company Secretary

    Michiel Brandjes Born December 14, 1954. A Dutch national, appointed as Company Secretaryand General Counsel Corporate of Royal Dutch Shell in February 2005. Previously he wasCompany Secretary of Royal Dutch. Joined the Shell group in 1980 as a Legal Adviser

    OUR VALUES

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    Shell employees share a set of core values - honesty, integrity and respect for people. We also firmly

    believe in the fundamental importance of trust, openness, teamwork and professionalism, and pride

    in what we do.

    Sustainable Development

    As part of the Business Principles, we commit to contribute to sustainable development. This requires

    balancing short and long term interests, integrating economic, environmental and social considerations

    into business decision-making.

    ResponsibilitiesShell companies recognise five areas of responsibility.

    It is the duty of management continuously to assess the priorities and discharge these inseparable

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    responsibilities on the basis of that assessment.

    a. To shareholders

    To protect shareholders investment, and provide a long-term return competitive with those of other

    leading companies in the industry.

    b. To customers

    To win and maintain customers by developing and providing products and services which offer value in

    terms of price, quality, safety and environmental impact, which are supported by the requisite

    technological, environmental and commercial expertise.

    c. To employees

    To respect the human rights of our employees and to provide them with good and safe working conditions,

    and competitive terms and conditions of employment.

    To promote the development and best use of the talents of our employees; to create an inclusive work

    environment where every employee has an equal opportunity to develop his or her skills and talents.

    To encourage the involvement of employees in the planning and direction of their work; to provide

    Them with channels to report concerns. We recognise that commercial success depends on

    the full commitment of all employees.

    d. To those with whom we do business

    To seek mutually beneficial relationships with contractors, suppliers and in joint ventures and to

    promote the application of these Shell General Business Principles or equivalent principles in such

    relationships. The ability to promote these principles effectively will be an important factor in the

    decision to enter into or remain in such relationships.

    e. To society

    To conduct business as responsible corporate members of society, to comply with applicable laws and

    regulations, to support fundamental human rights in line with the legitimate role of business, and to

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    give proper regard to health, safety, security and the environment.

    OUR PRINCIPLES

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    Principle1

    Economic

    Long-term profitability is essential to achieving our business goals and to our continued growth. It is a

    measure both of efficiency and of the value that customers place on Shell products and services. It

    supplies the necessary corporate resources for the continuing investment that is required to develop

    and produce future energy supplies to meet customer needs. Without profits and a strong financial

    foundation, it would not be possible to fulfil our responsibilities.

    Criteria for investment and divestment decisions include sustainable development considerations

    (economic, social and environmental) and an appraisal of the risks of the investment.

    Principle 2

    Competition

    Shell companies support free enterprise. We seek to compete fairly and ethically and within the

    Framework of applicable competition laws; we will not prevent

    others from competing freely with us.

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    Principle 3

    Business Integrity

    Shell companies insist on honesty, integrity and fairness in all aspects of our business and expect the

    same in our relationships with all those with whom we do business. The direct or indirect offer,

    payment, soliciting or acceptance of bribes in any form is unacceptable. Facilitation payments are also

    bribes and should not be made. Employees must avoid conflicts of interest between their private

    activities and their part in the conduct of company business. Employees must also declare to their

    employing company potential conflicts of interest. All business transactions on behalf of a Shell

    company must be reflected accurately and fairly in the accounts of the company in accordance with

    established procedures and are subject to audit and disclosure.

    Principle 4

    Political Activities

    a. Of companies

    Shell companies act in a socially responsible manner within the laws of the countries in which we

    Operate in pursuit of our legitimate commercial objectives.

    Shell companies do not make payments to political parties, organizations or their representatives. Shell

    companies do not take part in party politics.

    However, when dealing with governments, Shell companies have the right and the responsibility to

    make our position known on any matters which affect us, our employees, our customers, our

    shareholders or local communities in a manner which is in accordance with our values and the Business

    Principles.

    b. Of employees

    Where individuals wish to engage in activities in the community, including standing for election to public

    office, they will be given the opportunity to do so where this is appropriate in the light of local

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    circumstances.

    Principle 5

    Health, Safety, Security and the Environment

    Shell companies have a systematic approach to health, safety, security and environmental management

    in order to achieve continuous performance improvement.

    To this end, Shell companies manage these matters as critical business activities, set standards and

    targets forimprovement, and measure, appraise and report

    performance externally.

    We continually look for ways to reduce the environmental impact of our operations, products and

    Services.

    Principle 6

    Local Communities

    Shell companies aim to be good neighbours by continuously improving the ways in which we

    contribute directly or indirectly to the general well- being of the communities within which we work.

    We manage the social impacts of our business activities carefully and work with others to enhance

    the benefits to local communities, and to mitigate any negative impacts from our activities.

    In addition, Shell companies take a constructive interest in societal matters, directly or indirectly related

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    to our business.

    Principle 7

    Communication and Engagement

    Shell companies recognise that regular dialogue and engagement with our stakeholders is essential. We

    are committed to reporting of our performance by providing full relevant information to legitimately

    interested parties, subject to any overriding considerations of business confidentiality.

    In our interactions with employees, business partners and local communities, we seek to listen and

    Respond to them honestly and responsibly.

    Principle 8

    Compliance

    We comply with all applicable laws and regulations of the countries in which we operate.

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    Living by our principles

    Our shared core values of honesty, integrity and respect for people, underpin all the work we do and

    are the foundation of our Business Principles.

    The Business Principles apply to all transactions, large or small, and drive the behaviour expected of

    Every employee in every Shell company in the conduct of its business at all times.

    We are judged by how we act. Our reputation will be upheld if we act in accordance with the law and

    the Business Principles. We encourage our business partners to live by them or by equivalent principles.

    We encourage our employees to demonstrate leadership, accountability and teamwork, and through

    these behaviours, to contribute to the overall success of Shell.

    It is the responsibility of management to lead by example, to ensure that all employees are aware of

    these principles, and behave in accordance with the spirit as well as with the letter of this statement.

    The application of these principles is underpinned by a comprehensive set of assurance procedures

    Which are designed to make sure that our employees understand the principles and confirm that they

    act in accordance with them. As part of the assurance system, it is also the

    responsibility of management to provide employees with safe and confidential channels to raise

    concerns and report instances of non-compliance. In turn, it is the responsibility of Shell employees to

    report suspected breaches of the Business Principles to Shell.

    The Business Principles have for many years been fundamental to how we conduct our business and

    living by them is crucial to our continued success.

    Jeroen van der Veer

    Chief Executive

    August 2005 Shell International Limited 2005

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    DEPARTMENTS

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    PRODUCTION

    In 2008, hydrocarbon production (excluding production from oil sands) was 3,170 thousand

    boe/d. This was 2% lower than in 2007 and 7% lower than in 2006. Lower production in 2008

    when compared with2007 is attributable to field declines, divested volumes, the effects of the

    hurricanes in the US Gulf of Mexico, the planned maintenance turnarounds in the UK related to

    the shutdown of the St. Fergus gas processing facilities and price impacts of production-sharing

    contracts (PSCs), which were partly offset by new fields production, increased ramp-up volumes

    and higher demand in north-west Europe. The underlying production trend was flat when

    compared with 2007 (excluding price impacts of PSCs, hurricanes, divestments and OPEC

    restrictions).Field declines affecting oil production were seen in Australia, Brunei, Denmark,

    Nigeria, Norway, the UK and the USA during 2008. Natural gas production was impacted by

    declining fields in Brunei, Germany, Malaysia, the UK and the USA, partly offset by higher

    seasonal demand in north-west Europe.

    The effect of declining fields was almost completely offset by production from new fields.

    In Australia, Shell through our participation in the NWS Venture, brought on-stream the Angel

    (Shell interest 22.4%) gas field. The field is now fully operational and produces gas for

    processing at the NWSVentures Karratha LNG plant in Western Australia.

    In Malaysia, Shell achieved first production from the E11 Hub Stage 2 project (Shell interest

    50%), an integrated gas project offshore Sarawak.

    Shell also delivered first production from the G7 (Shell interest 50%), M3S (Shell interest 70%)and Saderi (Shell interest 37.5%) fields inMalaysia.

    In Nigeria, Shell delivered first gas to the Afam VI power plant and the Okoloma gas plant,

    collectively known as the Afam Gas and Power Project (Shell interest 30%), which will supply

    power to the grid and gas to the domestic market in Nigeria.

    In Russia, Shell delivered first production from the Piltun-Astokhskoye B platform and began

    year-round oil exports from the Sakhalin II project.

    In January 2009, first gas was achieved from the Lunskoye-A platform. In the UK North Sea,

    Shell delivered first production from four fields starting with Starling (Shell interest 28%)followed by the Shamrock (Shell interest 100%) and Caravel (Shell interest 71%) monotowers,

    and Curlew C (Shell interest 100%).

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    Production volumes were also supported by continued growth at Stybarrow (Shell interest 17.1%)

    in

    Australia, Champion West Phase 3B/C (Shell interest 50%) in Brunei, Duvernay (Shell interest

    100%) in Canada, Changbei (Shell interest 50%) in China, Ormen Lange (Shell interest 17%) in

    Norway, West Salym (Shell interest 50%) in Russia and Deimos (Shell interest 71.5%) in the

    USA.

    EXPLORATION

    During 2008, we participated in 224 successful wells drille.

    Finance & Accounts

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    The finance department of a business takes responsibility for organising the financial andaccounting affairs including the preparation and presentation of appropriate accounts, and theprovision of financial information for managers. The main areas covered by the financialdepartment include:

    1. Book keeping procedures.

    Keeping records of the purchases and sales made by a business as well as capital spending. Theserecords today are typically kept on computer files. But we still use the term ledger entries to referto the days when all financial transactions were carefully recorded in thick books (ledgers).

    2. Creating a balance sheet and profit and loss account.

    Financial statements need to be produced at given time intervals, for example at the end of eachfinancial year. Trial balances are extracted from the ledger entries to create a Balance Sheetshowing the assets and liabilities of a business at the year end. In addition, records of purchasesand sales are totalled up to create aProfit and Loss (P&L) account.

    3. Providing management information.

    Managers require ongoing financial information to enable them to make better decisions. Forexample, they will want information about how much it costs to produce a particular product orservice, in order to assess how much to produce and whether it might be more worthwhile toswitch to making an alternative product.

    4. Management of wages.

    The wages section of the finance department will be responsible for calculating the wages andsalaries of employees and organising the collection ofincome tax andnational insurance for theInlandRevenue.

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    5. Raising of finance.

    The finance department will also be responsible for the technical details of how a business raises

    finance e.g. through loans, and the repayment ofinterest on that finance. In addition it willsupervise the payment ofdividends to shareholders.

    Management accounts

    There is an important distinction between management accounts which involves the provision ofinformation to managers for ongoing decision making, and financial accounting which isconcerned with the preparation of financial statements outlining the financial health andperformance of a company in previous time periods.

    Marketing

    Marketing involves a range of processes concerned with finding out what consumers want, andthen providing it for them. This involves four key elements, which are referred to as the 4P's (themarketing mix). A useful starting point therefore is to carry out market research to find out aboutcustomer requirements in relation to the 4Ps.

    Market research

    CREATED BY: STARS

    http://www.thetimes100.co.uk/glossary--interest-2926.phphttp://www.thetimes100.co.uk/glossary--dividends-2542.phphttp://www.thetimes100.co.uk/glossary--shareholders-2999.phphttp://www.thetimes100.co.uk/glossary--company-2870.phphttp://www.thetimes100.co.uk/theory/theory--the-marketing-mix--185.phphttp://www.thetimes100.co.uk/glossary--marketing-mix-2949.phphttp://www.thetimes100.co.uk/glossary--market-research-2946.phphttp://www.thetimes100.co.uk/glossary--interest-2926.phphttp://www.thetimes100.co.uk/glossary--dividends-2542.phphttp://www.thetimes100.co.uk/glossary--shareholders-2999.phphttp://www.thetimes100.co.uk/glossary--company-2870.phphttp://www.thetimes100.co.uk/theory/theory--the-marketing-mix--185.phphttp://www.thetimes100.co.uk/glossary--marketing-mix-2949.phphttp://www.thetimes100.co.uk/glossary--market-research-2946.php
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    There are two main types ofmarket research: Quantitative research involves collecting a lot ofinformation by using techniques such as questionnaires and other forms of survey. Qualitativeresearch involves working with smallersamples of consumers, often asking them to discuss

    products andservices while researchers take notes about what they have to say. The marketingdepartment will usually combine both forms of research.

    The marketing department will seek to make sure that the company has amarketing focus ineverything that it does. It will work very closely with production to make sure that new andexistingproduct development is tied in closely with the needs and expectations of customers.

    Modern market focused organisations will seek to find out what their customers want. Forexample, financial service organisations will want to find out about what sort of accountscustomers want to open and thestandard of service they expect to get. Retailers like Argos andHomebase will seek to find out about customer preferences for store layouts and the range of

    goods on offer. Airlines will find out about the levels of comfort that customers desire and thespecial treatment that they prefer to receive.

    A useful definition of marketing is the anticipation and identification ofcustomer needs andrequirements so as to be able to meet them, make aprofit or achieve other key organisationalobjectives.

    HRM

    Human resources is an increasingly broadening term with which an organization, or other

    human system describes the combination of traditionally administrative personnel functions with

    acquisition and application of skills, knowledge and experience, employee relations and resource

    planning at various levels. The field draws upon concepts developed in Industrial/Organizational

    Psychology and System Theory. Human resources has at least two related interpretations

    depending on context. The original usage derives from political economy and economics, where it

    was traditionally called labor, one of four factors of production although this perspective is

    changing as a function of new and ongoing research into more strategic approaches at national

    levels.[1] This first usage is used more in terms of 'human resources development', and can go

    beyond just organizations to the level of nations [2]. The more traditional usage withincorporations and businesses refers to the individuals within a firm or agency, and to the portion of

    the organization that deals with hiring, firing, training, and other personnel issues, typically

    referred to as `human resources management'. This article addresses both definitionsThe objective

    of human resource`s' development (the `s' is important in human resource`s' in that it underscores

    CREATED BY: STARS

    http://www.thetimes100.co.uk/glossary--qualitative-177.phphttp://www.thetimes100.co.uk/glossary--samples-2755.phphttp://www.thetimes100.co.uk/glossary--services-2998.phphttp://www.thetimes100.co.uk/glossary--services-2998.phphttp://www.thetimes100.co.uk/glossary--company-2870.phphttp://www.thetimes100.co.uk/glossary--marketing-focus-809.phphttp://www.thetimes100.co.uk/glossary--marketing-focus-809.phphttp://www.thetimes100.co.uk/glossary--product-development-2716.phphttp://www.thetimes100.co.uk/glossary--market-focused-376.phphttp://www.thetimes100.co.uk/glossary--standard-668.phphttp://www.thetimes100.co.uk/glossary--standard-668.phphttp://www.thetimes100.co.uk/glossary--retailers-2748.phphttp://www.thetimes100.co.uk/theory/theory--customers-needs--410.phphttp://www.thetimes100.co.uk/glossary--profit-2721.phphttp://www.thetimes100.co.uk/glossary--objectives-2961.phphttp://www.thetimes100.co.uk/glossary--qualitative-177.phphttp://www.thetimes100.co.uk/glossary--samples-2755.phphttp://www.thetimes100.co.uk/glossary--services-2998.phphttp://www.thetimes100.co.uk/glossary--company-2870.phphttp://www.thetimes100.co.uk/glossary--marketing-focus-809.phphttp://www.thetimes100.co.uk/glossary--product-development-2716.phphttp://www.thetimes100.co.uk/glossary--market-focused-376.phphttp://www.thetimes100.co.uk/glossary--standard-668.phphttp://www.thetimes100.co.uk/glossary--retailers-2748.phphttp://www.thetimes100.co.uk/theory/theory--customers-needs--410.phphttp://www.thetimes100.co.uk/glossary--profit-2721.phphttp://www.thetimes100.co.uk/glossary--objectives-2961.php
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    individuality/variability) is to foster human resourcefulness through enlightened and cohesive

    policies in education, training, health and employment at all levels, from corporate to national

    (Lawrence[3] 2000) [4]Human resource management's objective, on the other hand, is to maximize

    the return on investment from the organization's human capital and minimize financial risk. It is

    the responsibility of human resource managers in a corporate context to conduct these activities in

    an effective, legal, fair, and consistent manner.

    CREATED BY: STARS

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    From a wide range of fuels and motor oils to credit card services that make it easy to fill up when

    you're on the go, Shell helps you get the most out of every drop. Discover our products and

    services in your country and use the Shell station locator to find your nearest Shell Service

    station.

    CREATED BY: STARS

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    Shell Advance

    Shell Advance oils unique performance package is dedicated to bikes and bikers, backed by

    years of know-how and expertise in lubricants and biking experience.

    Shell Helix

    Shell Helix motor oil contains active cleansing agents that continuously clean and protect the

    engine, allowing it to operate at its full potential.

    Shell Fuel Card for Businesses

    Shell Card and euroShell Card are the fuel cards for businesses of all sizes, from car fleets

    through to professional road transport companies.

    Card Services

    Read about a cashless, convenient and secure way to buy fuel and other motor-related

    products.

    Shell Fuel Card for Businesses

    Shell Card and euroShell Card are the fuel cards for businesses of all sizes, from car fleets

    through to professional road transport companies.

    CREATED BY: STARS

    http://void%28%27/#')http://void%28%27/#')http://void%28%27/#')http://www.shell.com/home/content/products_services/on_the_road/card_services/shell_fuel_card_for_business/shell_fuel_card_for_business.htmlhttp://void%28%27/#')http://void%28%27/#')http://void%28%27/#')http://www.shell.com/home/content/products_services/on_the_road/card_services/shell_fuel_card_for_business/shell_fuel_card_for_business.html
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    Shell Credit Card

    Shell Credit Card is a cashless facility offering reward for your purchases at Shell as well as for

    your everyday spend on groceries or more luxurious items like holidays. Filling up has never

    been so rewarding!

    Shell V-Power

    What is it that makes us want to move more, further, and better? Whatever your reason, here at Shell we

    are passionate about helping to improve the way you move. And if you care about getting the most from your

    car, then Shell V-Power could help enhance driving power and deliver superior performance.

    Fuels

    Shells differentiated fuels have been launched in more than 40 countries to meet the individual needs of its

    customers. Some of the products we offer include Shell V-Power, Shell V-Power Racing, Shell V-Power Dieseland Shell Diesel Extra. The benefit of each product and its availability differs by country.

    CREATED BY: STARS

    http://www.shell.com/home/content/products_services/on_the_road/card_services/shell_credit_card_from_citi/shell_credit_card_from_citi.htmlhttp://void%28%27/#')http://void%28%27/#')http://www.shell.com/home/content/products_services/on_the_road/fuels/shell_vpower_shell_vpower_racing/http://www.shell.com/home/content/products_services/on_the_road/oils/helix/helix.htmlhttp://www.shell.com/home/content/products_services/on_the_road/card_services/shell_credit_card_from_citi/shell_credit_card_from_citi.htmlhttp://void%28%27/#')http://void%28%27/#')
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    Discover how Shell rewards its customers around the world

    Oils

    From Shell Helix to Pennzoil - Shell provides you with a full range of motor and bike oils

    Shell Gas LPG

    At Shell Gas LPG we are passionate about energy and our customers. We pride ourselves in providing a

    cleaner burning fuel and continually strive to deliver better, safer and more reliable ways to meet your

    energy needs.

    Shell Station Locator

    Use our station locators to find Shell stations around the world.

    Shops and Services

    You can trust Shell to meet your every need when you're on the road. Our network offers you friendly

    service, a range of quality Shell fuels and convenience shopping with the advantage of loyalty programmes.

    Shops and Services

    o Car Care Products

    o Car Wash

    o Pay at Pump

    CREATED BY: STARS

    http://void%28%27/#')http://void%28%27/#')http://void%28%27/#')http://void%28%27/#')http://www.shell.com/home/content/products_services/on_the_road/shop_and_services/dir_shops_services.htmlhttp://www.shell.com/home/content/products_services/on_the_road/shop_and_services/car_care_products/car_care_products.htmlhttp://www.shell.com/home/content/products_services/on_the_road/shop_and_services/car_wash/car_wash.htmlhttp://www.shell.com/home/content/products_services/on_the_road/shop_and_services/pay_at_pump/pay_at_pump.htmlhttp://void%28%27/#')http://void%28%27/#')http://void%28%27/#')http://void%28%27/#')http://www.shell.com/home/content/products_services/on_the_road/shop_and_services/dir_shops_services.htmlhttp://www.shell.com/home/content/products_services/on_the_road/shop_and_services/car_care_products/car_care_products.htmlhttp://www.shell.com/home/content/products_services/on_the_road/shop_and_services/car_wash/car_wash.htmlhttp://www.shell.com/home/content/products_services/on_the_road/shop_and_services/pay_at_pump/pay_at_pump.html
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    FUELS PRODUCTS

    When you fill up with Shell, you can relax in the knowledge that Shell fuels, including Shell

    V-Power and Shell V-Power Diesel, are backed by unique technological expertise and

    decades of research and development by some of the best scientists from around the world,

    all working to help you get the most out of every drop.

    Get the Most Out of Every Drop

    Could you save fuel and money? Could you get better performance from your car? Visit the

    microsite Get the Most Out of Every Drop and find ways to help you make every drop of fuel

    count.

    CREATED BY: STARS

    http://www.shell.com/home/content/products_services/on_the_road/fuels/get_the_most/http://www.shell.com/home/content/products_services/on_the_road/fuels/get_the_most/
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    Fuel Save Challenge

    Commited to making better fuels for our customers and their cars.

    Fuel Pricing?

    Why does fuel cost this much, and what are we doing to help?

    Shell V-Power

    What is it that makes us want to move more, further, and better? Whatever your reason, here at

    Shell we are passionate about helping to improve the way you move. And if you care about

    getting the most from your car, then Shell V-Power could help enhance driving power and

    deliver superior performance.

    Shell V-Power Diesel

    Shell V-Power Diesel is an advanced performance fuel designed to help the latest diesel

    engines continously deliver more power.

    CREATED BY: STARS

    http://www.shell.com/home/content/products_services/on_the_road/fuels/fuel_save_challenge/fuel_save_challenge.htmlhttp://www.shell.com/home/content/products_services/on_the_road/fuels/fuels_pricing/fuels_pricing.htmlhttp://www.shell.com/home/content/products_services/on_the_road/fuels/shell_vpower_shell_vpower_racing/http://www.shell.com/home/content/products_services/on_the_road/fuels/shell_vpower_diesel/shell_vpower_diesel.htmlhttp://www.shell.com/home/content/products_services/on_the_road/fuels/fuel_save_challenge/fuel_save_challenge.htmlhttp://www.shell.com/home/content/products_services/on_the_road/fuels/fuels_pricing/fuels_pricing.htmlhttp://www.shell.com/home/content/products_services/on_the_road/fuels/shell_vpower_shell_vpower_racing/http://www.shell.com/home/content/products_services/on_the_road/fuels/shell_vpower_diesel/shell_vpower_diesel.html
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    Shell V-Power Diesel Challenge

    Get behind the steering wheel of the Audi R10 TDI in our Shell V-Power Diesel Challenge

    racing game.

    Shell V-Power 10th Anniversary

    Its been ten years since Shell launched Shell V-Power, ten years of delivering our passion for

    performance with a fuel that now helps keep over 1 million drivers, in over 60 countries,

    moving everyday.

    Discover how Shell rewards its customers around the world.

    Shell offers customers Loyalty Cards in 24 markets all over the world. By using their card each

    time they purchase Shell fuels on-site, customers earn points which they can redeem against gifts.

    Select your country from the list below to find out more. All links open in a new window.

    Austria Hungary Singapore

    CREATED BY: STARS

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    Bulgaria Italy Slovakia

    Czech Republic Luxembourg Spain

    Finland Malaysia Switzerland (French)

    France Mauritius Switzerland (German)

    Germany Netherlands Switzerland (Italian)

    Greece New Zealand Turkey

    Hong Kong Philippines United Kingdom

    Poland

    OILS

    From Shell Helix to Pennzoil - Shell provides you with a full range of motor and bike oils.

    CREATED BY: STARS

    https://www.shellsmart.com/smart/index.html?site=bg-bghttps://www.shellsmart.com/smart/index.html?site=it-ithttps://www.shellsmart.com/smart/index.html?site=sk-skhttps://www.shellsmart.com/smart/index.html?site=cz-cshttp://www.shell.com/home/Framework?siteId=lu-en&FC2=/lu-en/html/iwgen/leftnavs/zzz_lhn3_0_0.html&FC3=/lu-en/html/iwgen/shell_for_motorists/dir_shell_for_motorists.htmlhttps://www.shellsmart.com/smart/index.html?site=es-eshttp://www.shell.com/home/Framework?siteId=fi-fi&FC2=/fi-fi/html/iwgen/leftnavs/zzz_lhn4_4_2.html&FC3=/fi-fi/html/iwgen/shell_for_motorists/carwash/jokakuudesilmainen_1010.htmlhttp://www.shell.com/home/Framework?siteId=my-en&FC2=/my-en/html/iwgen/shell_for_motorists/loyalty/zzz_lhn.html&FC3=/my-en/html/iwgen/shell_for_motorists/loyalty/dir_loyalty.htmlhttps://www.shellsmart.com/smart/index.html?site=ch-frhttp://www.shell.com/home/content/fr-fr/shell_for_motorists/loyalty/smiles_avril_2007/smiles_avril_2007_catalogue.htmlhttp://www.shell.com/home/Framework?siteId=mu-en&FC2=/mu-en/html/iwgen/leftnavs/zzz_lhn3_3_0.html&FC3=/mu-en/html/iwgen/shell_for_motorists/cards/shellcard_12141256.htmlhttps://www.shellsmart.com/smart/index.html?site=ch-dehttps://www.shellsmart.com/smart/index.html?site=de-dehttp://www.shell.com/home/content2/nl-nl/shell_for_motorists/dir_promoties_sparen.htmlhttps://www.shellsmart.com/smart/index.html?site=ch-ithttps://www.shellsmart.com/smart/index.html?site=gr-elhttp://www.shell.com/home/Framework?siteId=nz-en&FC2=/nz-en/html/iwgen/leftnavs/zzz_lhn4_8_0.html&FC3=/nz-en/tailored/shell_for_motorists/loyalty/loyaltyprograms_sope_0318.htmlhttps://www.shellsmart.com/smart/index.html?site=tr-trhttp://www.shellrewards.com/http://www.shell.com/home/content/ph-en/shell_for_motorists/loyalty/pepetoti_0816.htmlhttp://www.shell.co.uk/driversclubhttps://www.shellsmart.com/smart/index.html?site=pl-plhttp://www.shell.com/home/content/products_services/on_the_road/oils/rimula/shell_rimula.htmlhttp://www.shell.com.sg/escapehttps://www.shellsmart.com/smart/index.html?site=bg-bghttps://www.shellsmart.com/smart/index.html?site=it-ithttps://www.shellsmart.com/smart/index.html?site=sk-skhttps://www.shellsmart.com/smart/index.html?site=cz-cshttp://www.shell.com/home/Framework?siteId=lu-en&FC2=/lu-en/html/iwgen/leftnavs/zzz_lhn3_0_0.html&FC3=/lu-en/html/iwgen/shell_for_motorists/dir_shell_for_motorists.htmlhttps://www.shellsmart.com/smart/index.html?site=es-eshttp://www.shell.com/home/Framework?siteId=fi-fi&FC2=/fi-fi/html/iwgen/leftnavs/zzz_lhn4_4_2.html&FC3=/fi-fi/html/iwgen/shell_for_motorists/carwash/jokakuudesilmainen_1010.htmlhttp://www.shell.com/home/Framework?siteId=my-en&FC2=/my-en/html/iwgen/shell_for_motorists/loyalty/zzz_lhn.html&FC3=/my-en/html/iwgen/shell_for_motorists/loyalty/dir_loyalty.htmlhttps://www.shellsmart.com/smart/index.html?site=ch-frhttp://www.shell.com/home/content/fr-fr/shell_for_motorists/loyalty/smiles_avril_2007/smiles_avril_2007_catalogue.htmlhttp://www.shell.com/home/Framework?siteId=mu-en&FC2=/mu-en/html/iwgen/leftnavs/zzz_lhn3_3_0.html&FC3=/mu-en/html/iwgen/shell_for_motorists/cards/shellcard_12141256.htmlhttps://www.shellsmart.com/smart/index.html?site=ch-dehttps://www.shellsmart.com/smart/index.html?site=de-dehttp://www.shell.com/home/content2/nl-nl/shell_for_motorists/dir_promoties_sparen.htmlhttps://www.shellsmart.com/smart/index.html?site=ch-ithttps://www.shellsmart.com/smart/index.html?site=gr-elhttp://www.shell.com/home/Framework?siteId=nz-en&FC2=/nz-en/html/iwgen/leftnavs/zzz_lhn4_8_0.html&FC3=/nz-en/tailored/shell_for_motorists/loyalty/loyaltyprograms_sope_0318.htmlhttps://www.shellsmart.com/smart/index.html?site=tr-trhttp://www.shellrewards.com/http://www.shell.com/home/content/ph-en/shell_for_motorists/loyalty/pepetoti_0816.htmlhttp://www.shell.co.uk/driversclubhttps://www.shellsmart.com/smart/index.html?site=pl-pl
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    DISCOVER MORE

    Shell Advance

    Shell Advance oils unique performance package is dedicated to bikes and bikers, backed byyears of know-how and expertise in lubricants and biking experience.

    Shell Donax

    Shell Donax Heavy Duty Transmission fluids. Protecting your fleet and reducing your

    maintenance costs.

    Shell Helix

    Shell Helix motor oil contains active cleansing agents that continuously clean and protect theengine, allowing it to operate at its full potential.

    CREATED BY: STARS

    http://void%28%27/#')http://void%28%27/#')http://void%28%27/#')http://www.shell.com/home/content/products_services/on_the_road/oils/rotella/shell_rotella.htmlhttp://void%28%27/#')http://void%28%27/#')http://void%28%27/#')
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    Shell Gas LPG

    At Shell Gas (LPG) we are passionate about energy and our customers. We pride ourselves in

    providing a cleaner burning fuel, and through our expertise and advanced technology, continually

    strive to deliver better, safer and more reliable ways to meet your energy needs.

    Liquefied Petroleum Gas (LPG) from Shell provides a clean and reliable fuel for your vehicles.

    Although vehicles are much cleaner than in the past, they remain one of the most significant

    factors in air pollution. Vehicles running on LPG produce fewer harmful emissions associated

    with traditional road fuels.

    Shell Station Locator

    More than 20 million customers a day visit Shell service stations for fuels, motor oils, car care

    products and more.

    CREATED BY: STARS

    http://www.shell.com/home/content/products_services/on_the_road/oils/helix/helix.htmlhttp://www.shell.com/home/content/products_services/on_the_road/oils/advance/shell_advance.html
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    Use our station locators to find Shell stations around the world. You can even search for particular

    products and services such as a car wash, ATM, Select stores or fuels.

    Argentina Finland Norway United States

    Australia Germany Poland

    Austria Greece Singapore

    Belgium (Dutch) Hong Kong Slovakia

    Belgium (French) Hungary South Africa

    Bulgaria India Sweden

    Canada Indonesia Switzerland (French)

    China Luxembourg Switzerland (German)

    Czech R