Royal Dutch Shell

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Royal Dutch Shell plc is a major energy company, one of the top four vertically integrated private sector oil/gas companies in the world (along with BP, ExxonMobil, and Total). Shell also has a significant petrochemicals business (Shell Chemicals) and an embryonic renewable energy sector developing wind and solar opportunities. Its corporate headquarters are in The Hague, Netherlands, with legal headquarters in London, United Kingdom.

Shell's revenues of $268 billion (2004) made it the fourth largest corporation in the world in 2004 and its profits of $18.18 billion made it the world's second most profitable business in terms of gross profits (calculations based on those numbers demonstrate a gross profit margin of 6.8%). Shell has operations in 140 countries in the world, the biggest of which is in the United States where its operating company is Shell Oil Company, which has its head office in Houston, Texas.

The Royal Dutch/Shell Group was created in 1907 when Royal Dutch Petroleum Company (legal name in Dutch, N.V. Koninklijke Nederlandsche Petroleum Maatschappij) and The "Shell" Transport and Trading Company plc merged their operations to compete against the then-giant American oil company, Standard Oil. Prior to unification, the group operated under a number of operating and shareholder agreements.

Royal Dutch Petroleum Company had been founded in 1890 by Jean Kessler, along with Henri Deterding and Hugo Loudon, when a Royal charter was granted by Queen Wilhelmina to a small oil exploration company known as "Royal Dutch."

The "Shell" Transport and Trading Company (the quotation marks are official) was a British company which dated back to 1897 and which had been founded by Marcus Samuel, and his brother, Samuel Samuel.

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 1931, partly in response to the difficult economic conditions of the times, Shell-Mex merged their marketing operations in the UK (only) with those of British Petroleum to create Shell-Mex and BP Ltd a company that continued to trade until the brands separated again in 1975.

In November 2004 it was announced that that the Shell Group would move to a single capital structure, creating a new parent company to be named Royal Dutch Shell plc, incorporated in England and Wales, and with its principal listing on the London Stock Exchange but its headquarters in The Hague in the Netherlands. The unification was completed on 20 July 2005.

Under the old capital structure, Shell's ADRs were traded on the New York Stock Exchange under RD (Royal Dutch) and SC (Shell).

Shell is the world's third largest publicly traded Oil company based on revenues (After BP and ExxonMobil) and the second most profitable (after ExxonMobil) - (Fortune Global 500 2004)


Origin of the name and logo

A Shell petrol station sign in the UK A Shell gas station in the U.S. Shell Centre Building in London, UK

The origin of the brand name Shell is linked to the origins of The "Shell" Transport and Trading Company. In 1833, the founder's father, also Marcus Samuel, had himself founded an import-export business to sell seashells to London collectors. When collecting seashell specimens in the Caspian Sea area in 1892, the younger Samuel realised there was potential in exporting lamp oil from the region and commissioned the world's first purpose built oil tanker, the Murex, to enter this market. By 1907 the company had a fleet of oil tankers.

The Shell emblem is one of the most familiar commercial symbols in the world. Known as the "Pecten" after the sea shell on which its design is based (the giant scallop, Pecten maximus), the latest version of the logo was designed by Raymond Loewy and introduced in 1971.

Businesses

One of the original Seven Sisters, Royal Dutch/Shell is the world's third largest oil company by revenue, and a major player in the petrochemical industry and the solar energy business. Shell has five core businesses: Exploration and Production, Oil Products, Downstream Gas and Power, Chemicals and Renewables, and operates in more than 140 countries across the world.

Shell’s primary business was, and is, the management of a vertically integrated oil company. The development of technical and commercial expertise in all the stages of this vertical integration from the initial search for oil (exploration) through its harvesting (production), transportation, refining and finally trading and marketing established the core competencies on which the Group was founded. Similar competencies were required for Natural Gas which has become one of the most important businesses in which Shell is involved and which contributes a significant proportion of the companies’ profits. The Chemicals business, involving the production and marketing of a range of hydrocarbon derived chemicals products, was also a logical step downstream from the processing of crude oil in the refinery. Some of the Chemicals diversifications (e.g. Agrichemicals) have now been disposed of following major restructuring to Shell Chemicals over the past ten years, but there is still a large core chemicals business within the company.

Over the years Shell has occasionally sought to diversify away from its core oil, gas and chemicals businesses. These diversifications have included Nuclear Power (a short lived and costly Joint Venture with Gulf Oil in the USA); Coal (Shell Coal was for a time a significant player in mining and marketing); Metals (Shell acquired the Dutch metals-mining company Billiton in 1970) and Electricity generation (a joint Venture with Bechtel called Intergen). However none of these ventures were seen as successful and all have now been disposed of. In recent years Shell has moved tentatively into alternative Energy with investments in Solar Power; Wind Power; Hydrogen and Forestry. The Forestry business went the way of Nuclear, Coal,Metals and Electricity generation and was disposed of in 2003.


Texaco

In 2001, Shell purchased about 13,000 Texaco stations and several refineries in the United States to permit Texaco to merge with Chevron Corporation. Shell may exclusively use the Texaco brand in the U.S. through 2004, and non-exclusively through 2006.

Ownership

Prior to unification on 20 July 2005, the group was a dual listed company. The two holding companies were the Royal Dutch Petroleum Company of the Netherlands and The "Shell" Transport and Trading Company plc of the United Kingdom. These two companies jointly owned all the operating companies in the group, although some (e.g. Shell Canada) also have local shareholders and are traded on local stock markets. The Shell interest in subsidiaries is always divided 60/40 in favor of Royal Dutch. In many cases, subsidiary companies are held in partnership with other companies or governments.

Even now, likely for tax reasons, the company's shares are divided into two classes, A and B, representing the former Royal Dutch and Shell shares respectively.

Although, to meet company law in all countries, there were executive and non-executive nominated directors of both Royal Dutch and Shell Transport and Trading , the Group had in fact been run by an executive body called the "Committee of Managing Directors" (CMD), whose members were the (executive) Managing Directors of the two parent companies.

An original investor, the largest single shareholder of Royal Dutch Shell is the holding company owned by the Dutch Royal Family, which was set up by Queen Wilhelmina of the Netherlands.

Management

  • CEO: Jeroen van der Veer
  • CFO: Peter Voser

On 4 August 2005, the board of directors of Royal Dutch Shell plc announced the appointment of Jorma Ollila, currently Chairman and CEO of Nokia, to succeed Aad Jacobs as the company’s Non-Executive Chairman. The appointment will be effective from 1 June 2006. Commentators have pointed to the break of tradition in this appointment as Ollila will be the first Shell Chairman to be neither Dutch nor British.

Environmental and Reputational issues

Over the years Shell has been criticized by environmental and human rights groups for a number of their operations, especially in South Africa and Nigeria.

South Africa

In the 1970s and 1980s Shell was heavily criticised by anti Apartheid activists for continuing to carry out business in the Republic of South Africa. Annual General Meetings of the two Group holding companies were disrupted by protesters and Shell was also accused of sanctions breaking. Shell always argued that unlike other multinationals who withdrew (e.g. Mobil) it could be more of a force for good by staying in the country than by leaving.

Nigeria

Shell operates in Nigeria under the name Shell Petroleum Development Company (SPDC). Shell's involvement in Nigeria came to the fore after the execution of dissident Ken Saro-Wiwa and eight others. The political activist Ken Saro-Wiwa had implicated Shell during his “treason” trial by saying “…the ecological war that [Shell] has waged … will be called to question sooner than later and the …crime of the Company's dirty wars against the Ogoni people will also be punished.” Shell was also found to be providing money and supplies to the Nigerian military. When Saro-Wiwa was executed on trumped-up charges some of the world-wide condemnation of the act was aimed at Shell who by association was implicated.

Brent Spar

Shell was also challenged by Greenpeace for plans for subsea disposal of the Brent Spar, an old oil transport and hub station located in the North Sea, into the North Atlantic. Shell eventually agreed to disassemble it onshore in Norway, although Shell has always maintained (supported by third party advice) that its original plan to sink the platform was safer and better for the environment.

Canada

In Canada, Shell Canada settled a lawsuit in which an additive in their gasolines created problems on fuel gauges, especially in automobiles produced by DaimlerChrysler.

Ireland

In Ireland, Shell has drawn criticism by attempting to pipe unrefined gas from the Corrib Gas Field onshore and to refine it at a plant in north County Mayo. Natural gas is sometimes refined at source when offshore. The concerns lie in piping the gas, at high pressure, through inhabited areas. Five men were jailed in June 2005 for obstructing the construction of the pipeline through their lands.

Oil and Gas Reserves recategorisation

Shell drew fire in 2004 when it had to perform a major recategorization of its reserves, admitting that a significant share of reserves previously booked as proven did not fulfill the requirements for proof under the US regulatory provisions. The delayed Annual report and Accounts 2003 restated proven reserves reduced 6.648 mn USD in 2001 and reduced by 6.469 mn USD in 2002. This corresponds to roughly 13% of the previous proven reserves base. As a contributing factor, it was identified that in previous years the leading management's bonus payments were linked to the proven reserves base. This practice has since been discontinued. The reserves issue led to the dismissal of the Group Chairman Sir Philip Watts , and the departure of the CFO and other top executives.

Sustainable Development

On June 17th of 2004, Shell chairman Ronald Oxburgh made a statement to The Guardian that in the face of the threat of global warming he was "really very worried for the planet”. As a remedy he proposed the practice of carbon sequestration, which involves removing carbon dioxide from the atmosphere and burying it underground. "Sequestration is difficult, but if we don't have sequestration then I see very little hope for the world," he said. Lord Oxburgh's comments were consistent with Shell's commitment to Sustainable Development, a commitment which was a key part of the reputation building efforts that the Group undertook after Brent Spar.

Combination of Royal Dutch and Shell

On October 28, 2004, the company announced its proposal formally to merge Royal Dutch and "Shell" Transport and Trading into one entity, Royal Dutch Shell plc, to be "incorporated in the UK but headquartered and tax resident in the Netherlands." The new parent company's primary listing will be on the London Stock Exchange. On the 28th of June, 2005 investors in both "Shell Transport and Trading" and in "Royal Dutch" approved, at their Annual General Meetings, plans to merge the Group's dual-ownership structure and create a single company worth £120bn ($219bn).

The type of business structure now to be created was not possible under the relevant laws in 1907 when the Group was established, and the unique form of organisation that was then adopted by Shell, although durable, had come under criticism in recent years. Some critics thought that as the two parent companies had separate boards, with separate memberships, this meant that there was a certain amount of (undesirable) independence of each of the companies from the other. Others felt that the real power in Shell lay not with the two parent company boards at all but with the "Committee of Managing Directors" (CMD) which had no legal status, but nevertheless took all the key operational decisions. The new organisation structure follows a more conventional business model (e.g. in line with most other private sector oil companies) and most commentators have commented favourably on the change which they believe will establish a more transparent and accountable corporation. The CMD is abolished under this new structure, board meetings will be more executive in character and there will (now) only be one "Shell" AGM, in one location, every year.



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. The Boeing employee community fund is the largest employee-owned and managed fund in the world. The CMD is abolished under this new structure, board meetings will be more executive in character and there will (now) only be one "Shell" AGM, in one location, every year. The Boeing company culture has long had a tradition of strong community support. in line with most other private sector oil companies) and most commentators have commented favourably on the change which they believe will establish a more transparent and accountable corporation. The two largest divisions are Boeing Commercial Airplanes and the Integrated Defense Systems group. The new organisation structure follows a more conventional business model (e.g. The company debuted the product to journalists in 2005, receiving generally favorable reviews.

Others felt that the real power in Shell lay not with the two parent company boards at all but with the "Committee of Managing Directors" (CMD) which had no legal status, but nevertheless took all the key operational decisions. Realizing that increasing numbers of passengers have become reliant on their computers to stay in touch, Boeing is offering Connexion by Boeing, an Internet connectivity service that promises air travelers unprecedented access to the World Wide Web. Some critics thought that as the two parent companies had separate boards, with separate memberships, this meant that there was a certain amount of (undesirable) independence of each of the companies from the other. The 777-200 Worldliner embarked on a well-received global demonstration tour in the second half of 2005, showing off its capacity to fly farther than any other commercial aircraft. The type of business structure now to be created was not possible under the relevant laws in 1907 when the Group was established, and the unique form of organisation that was then adopted by Shell, although durable, had come under criticism in recent years. The 737-900 is the latest version of the venerable craft offered by Boeing and is significantly larger than previous versions. On the 28th of June, 2005 investors in both "Shell Transport and Trading" and in "Royal Dutch" approved, at their Annual General Meetings, plans to merge the Group's dual-ownership structure and create a single company worth £120bn ($219bn). Boeing's most successful new aircraft measured by recent orders remained the 737, for which it received orders totaling 387 new units in 2005 as reported on August 7.

On October 28, 2004, the company announced its proposal formally to merge Royal Dutch and "Shell" Transport and Trading into one entity, Royal Dutch Shell plc, to be "incorporated in the UK but headquartered and tax resident in the Netherlands." The new parent company's primary listing will be on the London Stock Exchange. Boeing has not officially announced that it will commence production of the 747 Advanced. Lord Oxburgh's comments were consistent with Shell's commitment to Sustainable Development, a commitment which was a key part of the reputation building efforts that the Group undertook after Brent Spar. The 747 would incorporate new engines and other design advancements associated with the 787. "Sequestration is difficult, but if we don't have sequestration then I see very little hope for the world," he said. Boeing was also believed to have received strong expressions of interest for its 747 Advanced, a stretched version of its 747-400. As a remedy he proposed the practice of carbon sequestration, which involves removing carbon dioxide from the atmosphere and burying it underground. Although Boeing lost to Airbus in total orders at a recent Paris airshow, it continued to impress analysts with orders for its 787 Dreamliner, which outnumber those for Airbus's revamped A350, and an overall rebound in orders that promised to allow Boeing to outproduce Airbus in the near future.

On June 17th of 2004, Shell chairman Ronald Oxburgh made a statement to The Guardian that in the face of the threat of global warming he was "really very worried for the planet”. Expectations for the year 2005 ran high for Boeing. The reserves issue led to the dismissal of the Group Chairman Sir Philip Watts , and the departure of the CFO and other top executives. Customers rumored to be interested include Lufthansa, EVA Airways, ILFC, GECAS and Emirates. This practice has since been discontinued. The freighter will be based on the 777-200LR. As a contributing factor, it was identified that in previous years the leading management's bonus payments were linked to the proven reserves base. In November 2004, Boeing announced it will offer a cargo version of the popular 777 model.

This corresponds to roughly 13% of the previous proven reserves base. Several orders for the Wedgetail AEW&C aircraft are expected as well. The delayed Annual report and Accounts 2003 restated proven reserves reduced 6.648 mn USD in 2001 and reduced by 6.469 mn USD in 2002. Boeing also received the launch contract from the US Navy for the Multimission Maritime Aircraft, an anti-submarine warfare patrol aircraft. Shell drew fire in 2004 when it had to perform a major recategorization of its reserves, admitting that a significant share of reserves previously booked as proven did not fulfill the requirements for proof under the US regulatory provisions. Currently, the 787 orderbook stands at over 250 airframes with orders from Northwest Airlines, Continental Airlines, Japan Airlines, Icelandair and a conglomeration of Chinese carriers. Five men were jailed in June 2005 for obstructing the construction of the pipeline through their lands. Finally, Boeing achieved several consecutive successes, beginning with the formal launch of the 787 for delivery to All Nippon Airways and Air New Zealand.

The concerns lie in piping the gas, at high pressure, through inhabited areas. Airbus has also retaliated against Boeing, reopening the dispute and also accusing Boeing of receiving subsidies from the US government. Natural gas is sometimes refined at source when offshore. However, in June 2005, Boeing and the United States government reopened the trade dispute with the WTO, claiming that Airbus had received illegal subsidies from European governments. In Ireland, Shell has drawn criticism by attempting to pipe unrefined gas from the Corrib Gas Field onshore and to refine it at a plant in north County Mayo. In January 11, the two parties (Boeing and Airbus) agreed that they would attempt to find a solution to the dispute outside of the WTO. In Canada, Shell Canada settled a lawsuit in which an additive in their gasolines created problems on fuel gauges, especially in automobiles produced by DaimlerChrysler. also complained that the investment subsidies from Japanese airlines violated the accord.

Shell eventually agreed to disassemble it onshore in Norway, although Shell has always maintained (supported by third party advice) that its original plan to sink the platform was safer and better for the environment. Moreover, the E.U. Shell was also challenged by Greenpeace for plans for subsea disposal of the Brent Spar, an old oil transport and hub station located in the North Sea, into the North Atlantic. Government. When Saro-Wiwa was executed on trumped-up charges some of the world-wide condemnation of the act was aimed at Shell who by association was implicated. Airbus retaliated by filing another complaint, contesting that Boeing had also violated the accord when it received tax breaks from the U.S. The political activist Ken Saro-Wiwa had implicated Shell during his “treason” trial by saying “…the ecological war that [Shell] has waged … will be called to question sooner than later and the …crime of the Company's dirty wars against the Ogoni people will also be punished.” Shell was also found to be providing money and supplies to the Nigerian military. In October 2004, Boeing filed a complaint at the World Trade Organization, claiming that Airbus had violated a 1992 bilateral accord when it received what Boeing deems as "unfair" subsidies from the European Union.

Shell's involvement in Nigeria came to the fore after the execution of dissident Ken Saro-Wiwa and eight others. Furthermore, the company was forbidden to bid for rocket contracts for a 20 month period which expired in March 2005. Shell operates in Nigeria under the name Shell Petroleum Development Company (SPDC). In July 2003 Boeing was penalized, with the Pentagon stripping $1 billion worth of contracts away from the company and awarding them to Lockheed. Mobil) it could be more of a force for good by staying in the country than by leaving. Lockheed argued that these documents allowed Boeing to win 21 of the 28 tendered military satellite launches. Shell always argued that unlike other multinationals who withdrew (e.g. Lockheed alleged that a former employee; Kenneth Branch, who went to work for McDonnell Douglas and Boeing, passed 25,000 proprietary documents to his new employers.

Annual General Meetings of the two Group holding companies were disrupted by protesters and Shell was also accused of sanctions breaking. In June 2003 Lockheed Martin sued Boeing alleging the company had resorted to industrial espionage in 1998 to win the Evolved Expendable Launch Vehicle (EELV) competition. In the 1970s and 1980s Shell was heavily criticised by anti Apartheid activists for continuing to carry out business in the Republic of South Africa. Bell served as interim CEO (in addition to his normal duties as Boeing's CFO) until the appointment of Jim McNerney as the new Chairman, President, and CEO on June 30, 2005. Over the years Shell has been criticized by environmental and human rights groups for a number of their operations, especially in South Africa and Nigeria. Boeing said an internal investigation revealed a "consensual" relationship between Stonecipher and a female executive that “violated the company's Code of Conduct” and "would impair his ability to lead the company." James A. Commentators have pointed to the break of tradition in this appointment as Ollila will be the first Shell Chairman to be neither Dutch nor British. In March 2005 the Boeing board forced President and CEO Harry Stonecipher to resign.

The appointment will be effective from 1 June 2006. In October 2004 she was sentenced to nine months in jail for corruption, fined $5,000, given three years of supervised release and 150 hours of community service. On 4 August 2005, the board of directors of Royal Dutch Shell plc announced the appointment of Jorma Ollila, currently Chairman and CEO of Nokia, to succeed Aad Jacobs as the company’s Non-Executive Chairman. Druyun pleaded guilty to inflating the price of the contract to favor her future employer and to passing information on the competing Airbus A330 MRTT bid (from EADS). An original investor, the largest single shareholder of Royal Dutch Shell is the holding company owned by the Dutch Royal Family, which was set up by Queen Wilhelmina of the Netherlands. Harry Stonecipher, former McDonnell Douglas CEO, replaced Condit. Although, to meet company law in all countries, there were executive and non-executive nominated directors of both Royal Dutch and Shell Transport and Trading , the Group had in fact been run by an executive body called the "Committee of Managing Directors" (CMD), whose members were the (executive) Managing Directors of the two parent companies. Sears.

Even now, likely for tax reasons, the company's shares are divided into two classes, A and B, representing the former Royal Dutch and Shell shares respectively. Condit and the termination of CFO Michael M. In many cases, subsidiary companies are held in partnership with other companies or governments. The fallout of this resulted in the resignation of Boeing CEO Philip M. The Shell interest in subsidiaries is always divided 60/40 in favor of Royal Dutch. In December 2003 the Pentagon announced the project was to be frozen while allegations of corruption by one if its former procurement staffers, Darleen Druyun (who had moved to Boeing in January) was investigated. Shell Canada) also have local shareholders and are traded on local stock markets. In September 2003, responding to critics who argued that the lease was vastly more expensive than an outright purchase, the DOD announced a revised lease of 74 aircraft and purchase of 26.

These two companies jointly owned all the operating companies in the group, although some (e.g. The 10 year lease would give the USAF the option to purchase the aircraft at the end of the contract. The two holding companies were the Royal Dutch Petroleum Company of the Netherlands and The "Shell" Transport and Trading Company plc of the United Kingdom. In May 2003 the US Air Force announced it would lease 100 KC-767 tankers to replace the oldest 136 of its KC-135s. Prior to unification on 20 July 2005, the group was a dual listed company. On August 2, 2005 Boeing sold its Rocketdyne rocket engine division to Pratt & Whitney. through 2004, and non-exclusively through 2006. The X-32 may have been hampered by the requirement for a redesign after several flaws were found in the original concept.

Shell may exclusively use the Texaco brand in the U.S. Boeing's competitor was the X-32, which lost out to Lockheed's F-35 entrant. In 2001, Shell purchased about 13,000 Texaco stations and several refineries in the United States to permit Texaco to merge with Chevron Corporation. On October 10, 2001, against fierce competition for the contract to the JSF, Boeing lost to rival Lockheed Martin in the multi-billion dollar contract.
. Hopes are now focused on the newly-launched 787 as a platform of total fleet rejuvenation. The Forestry business went the way of Nuclear, Coal,Metals and Electricity generation and was disposed of in 2003. It responded by running a huge advertising campaign to promote its new motto, "Forever New Frontiers," and rehabilitate its image.

In recent years Shell has moved tentatively into alternative Energy with investments in Solar Power; Wind Power; Hydrogen and Forestry. After several decades of numerous successes, Boeing lost ground to Europe's Airbus and subsequently lost its leadership of the market in 2003. However none of these ventures were seen as successful and all have now been disposed of. The aircraft was informally announced at the 2005 Paris Airshow. These diversifications have included Nuclear Power (a short lived and costly Joint Venture with Gulf Oil in the USA); Coal (Shell Coal was for a time a significant player in mining and marketing); Metals (Shell acquired the Dutch metals-mining company Billiton in 1970) and Electricity generation (a joint Venture with Bechtel called Intergen). Boeing also plans to a '747 Advanced' that will compete more closely with the Airbus A380. Over the years Shell has occasionally sought to diversify away from its core oil, gas and chemicals businesses. However, if Boeing manages to win the contract for new USAF tankers, the 767 program might be saved.

Agrichemicals) have now been disposed of following major restructuring to Shell Chemicals over the past ten years, but there is still a large core chemicals business within the company. Boeing also soon canceled the production of 717 due to slow sales, and the 767 is likely to cease production soon. Some of the Chemicals diversifications (e.g. More advanced versions of the 737 were beginning to compete against the older design. The Chemicals business, involving the production and marketing of a range of hydrocarbon derived chemicals products, was also a logical step downstream from the processing of crude oil in the refinery. In 2004, Boeing canceled production of the 757 after more than a thousand were produced, with the last airplane going to Shanghai Airlines, in China. Similar competencies were required for Natural Gas which has become one of the most important businesses in which Shell is involved and which contributes a significant proportion of the companies’ profits. The 777-200LR has already entered flight-testing, with the first aircraft due to be delivered to Pakistan International Airlines in 2006.

The development of technical and commercial expertise in all the stages of this vertical integration from the initial search for oil (exploration) through its harvesting (production), transportation, refining and finally trading and marketing established the core competencies on which the Group was founded. The Boeing 777-200LR will have the longest range of any commercial aircraft, and will be the first airliner to able to fly halfway across the planet with a commercially viable payload. Shell’s primary business was, and is, the management of a vertically integrated oil company. The Boeing 787 was formerly known as the Boeing 7E7, but the designation has since been changed. Shell has five core businesses: Exploration and Production, Oil Products, Downstream Gas and Power, Chemicals and Renewables, and operates in more than 140 countries across the world. Currently, Boeing is planning to introduce two new aircraft, the 787 "Dreamliner", and the ultra-long-range 777-200LR. One of the original Seven Sisters, Royal Dutch/Shell is the world's third largest oil company by revenue, and a major player in the petrochemical industry and the solar energy business. The 747 is also being cannibalized by healthy sales of Boeing's own competitor, the 777-300 Series.

Known as the "Pecten" after the sea shell on which its design is based (the giant scallop, Pecten maximus), the latest version of the logo was designed by Raymond Loewy and introduced in 1971. the A320 has been selected by two low-cost operators (the aircraft used by these airlines has traditionally been the 737) and the very large aircraft market, the A380 has won every major order over the 747 since its launch. The Shell emblem is one of the most familiar commercial symbols in the world. Indeed Airbus is now competing in markets that Boeing once had a monopoly over, e.g. By 1907 the company had a fleet of oil tankers. From the 1970s Airbus has increased its family of aircraft to the point where they can now offer an aircraft in every class Boeing does. When collecting seashell specimens in the Caspian Sea area in 1892, the younger Samuel realised there was potential in exporting lamp oil from the region and commissioned the world's first purpose built oil tanker, the Murex, to enter this market. In recent years Boeing has faced an increasingly competitive Airbus, which offers commonality between models and the latest fly-by-wire technology.

In 1833, the founder's father, also Marcus Samuel, had himself founded an import-export business to sell seashells to London collectors. and the production of the MD-11 was stopped. The origin of the brand name Shell is linked to the origins of The "Shell" Transport and Trading Company. Following the merger between Boeing and McDonnell Douglas, the McDonnell Douglas MD-95 was renamed the Boeing 717. . One year later, Boeing merged with McDonnell Douglas Corp.
. The Rockwell products became a subsidiary of Boeing, named Boeing North American, Inc.

Shell is the world's third largest publicly traded Oil company based on revenues (After BP and ExxonMobil) and the second most profitable (after ExxonMobil) - (Fortune Global 500 2004). In 1996, Boeing merged with Rockwell International Corp.’s aerospace and defense units. Under the old capital structure, Shell's ADRs were traded on the New York Stock Exchange under RD (Royal Dutch) and SC (Shell). The "Next-Generation 737" includes the 737-600, the 737-700, the 737-800, and the 737-900. The unification was completed on 20 July 2005. Also in the mid-1990s, the company developed the revamped version of the B737, known as the "Next-Generation 737." It has since become the fastest-selling version of the B737 in history. In November 2004 it was announced that that the Shell Group would move to a single capital structure, creating a new parent company to be named Royal Dutch Shell plc, incorporated in England and Wales, and with its principal listing on the London Stock Exchange but its headquarters in The Hague in the Netherlands. by using CAD techniques.

In 1931, partly in response to the difficult economic conditions of the times, Shell-Mex merged their marketing operations in the UK (only) with those of British Petroleum to create Shell-Mex and BP Ltd a company that continued to trade until the brands separated again in 1975. This aircraft, affectionately known as the "triple seven," reached an important milestone by being the first airliner to be designed "entirely by computer," i.e. 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. The longest range twin in the world, the B777 is certified to fly routes over oceans and deserted zones (see ETOPS), and is being sold very successfully. The "Shell" Transport and Trading Company (the quotation marks are official) was a British company which dated back to 1897 and which had been founded by Marcus Samuel, and his brother, Samuel Samuel. In 1994, Boeing introduced its most modern commercial jet aircraft, the twin-engine B777, with a seating capacity of 390 passengers, in between the B767 and the B747. Royal Dutch Petroleum Company had been founded in 1890 by Jean Kessler, along with Henri Deterding and Hugo Loudon, when a Royal charter was granted by Queen Wilhelmina to a small oil exploration company known as "Royal Dutch.". During these years, Boeing was very active upgrading existing military equipment and developing new ones.

Prior to unification, the group operated under a number of operating and shareholder agreements. At the same time, several military projects went into production, like the RAH-66 Comanche helicopter, the Avenger air defense system and a new generation of short-range missiles. Koninklijke Nederlandsche Petroleum Maatschappij) and The "Shell" Transport and Trading Company plc merged their operations to compete against the then-giant American oil company, Standard Oil. Boeing participated also with other products in the space program, and was the first contractor for the International Space Station. The Royal Dutch/Shell Group was created in 1907 when Royal Dutch Petroleum Company (legal name in Dutch, N.V. An important project of these years was the Space Shuttle, to which Boeing contributed with its experience in space rockets acquired during the Apollo era, in which the company also participated. Shell has operations in 140 countries in the world, the biggest of which is in the United States where its operating company is Shell Oil Company, which has its head office in Houston, Texas. Boeing had to offer new aircraft, and developed the single-aisle B757, the larger, twin-aisle B767, and upgraded versions of the B737.

Shell's revenues of $268 billion (2004) made it the fourth largest corporation in the world in 2004 and its profits of $18.18 billion made it the world's second most profitable business in terms of gross profits (calculations based on those numbers demonstrate a gross profit margin of 6.8%). As passenger air traffic increased, competition was harder, mainly from a European newcomer in commercial airliner manufacturing, Airbus. Its corporate headquarters are in The Hague, Netherlands, with legal headquarters in London, United Kingdom. During the following years, commercial aircraft and their military versions became the basic equipment of airlines and air forces. Shell also has a significant petrochemicals business (Shell Chemicals) and an embryonic renewable energy sector developing wind and solar opportunities. Boeing assembled its 1,000th B737 passenger airliner. Royal Dutch Shell plc is a major energy company, one of the top four vertically integrated private sector oil/gas companies in the world (along with BP, ExxonMobil, and Total). In 1983, the economic situation began to improve.

CFO: Peter Voser. Larger versions have also been developed by stretching the upper deck. CEO: Jeroen van der Veer. The B747 has undergone continuous improvements to keep it technologically up-to-date. (Airbus now offers the A380, which when delivered will be the largest operational airliner). Until 2001, Boeing had been the only aircraft manufacturer to offer such an airliner and has delivered near to 1,400 units.

This famous aircraft changed completely the way of flying, with its 450-passenger seating capacity and its upper deck. In 1970 the first B747, a four-engine long-range airliner, finally entered service. The company had to reduce the number of employees from over 80,000 to almost half, only in the Seattle area. Congress decided to stop the financial support for the development of the supersonic 2707, Boeing's answer to the British-French Concorde, forcing the company to discontinue the project.

Another problem was that, in 1971, the U.S. Boeing's bet for the future, the new B747 Jumbo Jet was delayed in production and originated much higher costs than forecasted. At that time, however, there was a heavy recession in the airlines industry so that Boeing did not receive one single order during more than one year. Once more, Boeing hoped to compensate sales with its commercial airliners.

The Apollo program in which Boeing had participated significantly during the preceding decade was almost entirely cancelled. In the beginning of the 1970s Boeing faced a new crisis. The aircraft made its first flight a year later, and its first commercial flight occurs in 1970. The roll-out ceremonies for the first 747-100 took place in 1968, at the massive new factory in Everett.

Several versions have been developed, mainly to increase seating capacity and range. The B737 is still being produced, and continuous improvements are made. It has become since then the best-selling commercial jet aircraft in aviation history. In 1967, Boeing introduced another short- and medium-range airliner, the twin-engine B737.

In 1964, Vertol also began production of the CH-46 Sea Knight. This heavy-lift helicopter remains a work-horse vehicle up to the present day. The twin-rotor CH-47 Chinook, produced by Vertol, took its first flight in 1961. The Piasecki Helicopter company was acquired by Boeing in 1960, and this became Boeing Vertol.

Although production was discontinued in 1984, at the turn of the millennium nearly 1,300 B727s were still in service at airlines around the world. The B727 was immediately well accepted as a comfortable and reliable aircraft by passengers, crews, and airlines. A few years later, Boeing introduced the B727, another commercial jet airliner of similar size, which had however three engines and was designed for medium-range routes. A few years later, Boeing added a second version of this aircraft, the B720.

With the B707, a four-engine, 156-passenger airliner, the US became leaders in commercial jet manufacture. In 1958, Boeing began delivery of its B707, the United States' first commercial jet airliner, in response to the British De Havilland Comet and the French Sud Caravelle, the world's first commercial jet aircraft. At that time the Cold War had become a fact to live with, and Boeing used its short-range missile technology to develop and build also an intercontinental missile. One of the first was the guided short-range missile used to intercept enemy aircraft.

In the mid-1950s technology had advanced very significantly, which gave Boeing the possibility to develop and manufacture totally new products. The company successfully sold military aircraft adapted for troop transportation and for aerial refueling. However, sales of this model were not as expected and Boeing had to seek other opportunities to overcome the situation. The company aimed to recover quickly by selling its Stratocruiser, a luxurious four-engine commercial airliner developed from a military aircraft.

After the war, most orders of bombers were canceled and 70,000 people lost their jobs at Boeing. Martin Co. and by Glenn L. and Douglas Aircraft Co., while the B-29 was assembled also by Bell Aircraft Co.

The Boeing-designed B-17 bomber was assembled also by Lockheed Aircraft Corp. During these years of war the leading aircraft companies of the US cooperated. To prevent an attack from the air, the plants had been covered with greenery and farmland items. In the beginning of March 1944, production had been scaled up in such a manner that over 350 planes were built each month.

Many of the workers were women whose spouses had gone to war. During World War II, Boeing built a huge number of bombers. — above most weather disturbances. This was the world's first pressurized-cabin transport aircraft, and it was capable of cruising at an altitude of 20,000 feet.

In 1938, Boeing completed work on the Model 307 Stratoliner. Subsequently other routes were opened, so that soon Pan American flew with the Boeing 314 to destinations all over the world. One year later, the first regular passenger service from the US to the UK was inaugurated. It was the largest civil aircraft of its time, with a capacity of 90 passengers on day flights, and of 40 passengers on night flights.

The first flight of the Boeing 314 Clipper was in June 1938. Shortly after, an agreement with Pan American World Airways was reached, to develop and build a commercial flying-boat able to carry passengers on transoceanic routes. Bill Boeing sold his shares, as a result. The Air Mail Act of 1934 prohibited airlines and manufacturers from being under the same corporate umbrella, so the company split into three smaller companies - Boeing Airplane Company, United Airlines, and United Aircraft Corporation, the precursor to United Technologies.

United Aircraft then purchased National Air Transport in 1930. in 1929 and acquired Pratt & Whitney, Hamilton Standard Propeller Company, and Chance Vought. The company changed its name to United Aircraft - Transport Corp. A year later, BAT, as well as Pacific Air Transport and Boeing Airplane Company merge into a single corporation.

In 1927, Boeing created an airline, named Boeing Air Transport (BAT). There he also acquired knowledge about wooden structures which was later revealed to be of value for the design and assembly of airplanes. Boeing had studied at Yale University and worked initially in the timber industry, where he became a rich man. Soon the name was changed to "Pacific Aero Products" and, in 1917, the company became the "Boeing Airplane Company." William E.

Navy engineer, and was named "B&W" after their initials. Boeing on July 15, 1916, together with George Conrad Westervelt, a U.S. The company was founded in Seattle by William E. .

(A full list of subsidiaries is included below.). Boeing's two principal divisions are Boeing Integrated Defense Systems (IDS), responsible for military and space products, and Boeing Commercial Airplanes (BCA), responsible for civil airliners. Boeing's stock is a component of the Dow Jones Industrial Average. It is also the second-largest defense contractor in the world [1], and the second-largest civil aircraft manufacturer after Airbus.

The Boeing Company NYSE: BA is the leading American aircraft and aerospace manufacturer, headquartered in Chicago, Illinois, with its largest production facilities in Everett, Washington, near Seattle, Washington. Preston Aviation Solutions. Boeing Connexion. Boeing Travel Management Company.

Boeing Shared Services Group. Boeing Realty. Sea Launch (40%). Boeing Satellite Systems.

United Space Alliance (with Lockheed Martin). United Launch Alliance (with Lockheed Martin). Phantom Works. Boeing Integrated Defense Systems

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    SBS International. Jeppesen Sanderson. Continental Datagraphics. Alteon Training, formerly FlightSafetyBoeing.

    Airspace Safety Analysis Corporation. Aeroinfo Systems. Boeing Commercial Airplanes

      . Boeing Capital.

      Boeing Australia, Ltd. AviationPartnersBoeing, a 50/50 joint venture with Aviation Partners, Inc.