More Historical Facts
The Royal Dutch Shell Group was created in February 1907 when the Royal Dutch Petroleum Company (legal name in Dutch, N.V. Koninklijke Nederlandsche Petroleum Maatschappij) and the "Shell" Transport and Trading Company Ltd of the United Kingdom merged their operations[6] – a move largely driven by the need to compete globally with the then dominant American petroleum company, John D. Rockefeller's Standard Oil. The terms of the merger gave 60% ownership of the new Group to the Dutch arm and 40% to the British.
Royal Dutch Petroleum Company was a Dutch company founded in 1890 by Jean Baptiste August Kessler,[6] along with Henri Deterding, when a Royal charter was granted by King William III of the Netherlands to a small oil exploration and production company known as "Royal Dutch Company for the Working of Petroleum Wells in the Dutch Indies"
The "Shell" Transport and Trading Company (the quotation marks were part of the legal name) was a British company, founded in 1897 by Marcus Samuel and his brother Samuel Samuel.[6] Initially the Company commissioned eight oil tankers for the purposes of transporting oil. In 1919, Shell took control of the Mexican Eagle Petroleum Company and in 1921
formed Shell-Mex Limited which marketed products under the "Shell" and "Eagle" brands in the United Kingdom. In 1932, partly in response to the difficult economic conditions of the times, Shell-Mex merged its UK marketing operations with those of British Petroleum to create Shell-Mex and BP Ltd,[8] a company that traded until the brands separated in 1975.
Around 1953, Shell was the first company to purchase and use an electronic computer in the Netherlands.[9] The computer, a Ferranti Mark 1 Star, was assembled and used at the Shell laboratory in Amsterdam.
In November 2004, following a period of turmoil caused by the revelation that Shell had been overstating its oil reserves, it was announced that the Shell Group would move to a single capital structure, creating a new parent company to be named Royal Dutch Shell plc, with its primary listing on the London Stock Exchange,
a secondary listing on the Amsterdam Stock Exchange, its headquarters and tax residency in The Hague in the Netherlands and its registered office in London. The unification was completed on 20 July 2005. Shares were issued at a 60/40 advantage for the shareholders of Royal Dutch in line with the original ownership of the Shell Group.
In November 2007 Shell acquired a majority stake in some gas fields owned by Regal Petroleum in Ukraine.
In March 2010, Shell announced the sale of some of its assets, including its liquid petroleum gas (LPG) business, to meet the cost of a planned $28bn capital spending programme. Shell has invited buyers to submit indicative bids, due by 22 March, company will raise $2–3bn from the sale.
In June 2010, Royal Dutch Shell agreed to acquire all of the business of East Resources for a cash consideration of $4.7 billion. The transaction includes East Resources' tight gas fields.
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