Investments in global projects in 2010 will fall to $28 billion from $30-$32 billion this year, Royal Dutch Shell CEO Peter Voser said.

Four former dealers at UBS plundered customer accounts to trade and dumped the resulting losses on them, Britain's financial regulator said, further denting the battered Swiss bank's reputation.

New Zealand infrastructure investor Infratil is in talks with Royal Dutch Shell over acquiring the oil company's local downstream and refining businesses, in a deal expected to be worth about NZ$1 billion ($710 million).

Third-quarter net profit for the second largest US oil company fell to $3.83 billion, or $1.92 per share, from $7.89 billion, or $3.85 per share, in the same quarter a year before

The CEO of oil giant BP believes the drop in the dollar in recent months is a major factor behind oil prices breaking through $75 a barrel.

Oil giants Exxon Mobil and Royal Dutch Shell on Thursday added to the industry's worst midyear showing in years, stung by slumping global energy demand that threatens to further slow exploration and production.

The extreme volatility that has gripped oil markets for the last 18 months has shown no signs of slowing down, with oil prices more than doubling since the beginning of the year despite an exceptionally weak economy.

Shell has turned itself around since the somber days of March 2004, when Mr. van der Veer was thrown into the top job to restore confidence in the company. Mr. van der Veer, who started at the company in 1971 and worked his way up, has been credited by most analysts in bringing about a turnaround.