Shell earns $1 billion a year from US crude trading, court filing shows
)'s vast oil and gas trading business are some of the company's closest-held secrets. Documents in a lawsuit filed by a former employee, however, revealed itsTestimony by a former head of Shell's U.S. crude trading division filed in a Texas state court has offered a rare look at the huge profits of its trading operations and the multi-million dollar bonuses bestowed on traders.
That is between 13% and 15% of Shell's overall U.S. pre-tax profits in recent years, according to calculations based on company filings. Traders make money by buying and selling oil and gas using gaps in supply and demand around the world to lock in profits. Their pay often includes promises of large bonuses based on their performance, that can be more than CEO Wael Sawan's annual bonus, which was 2.7 million pounds last year, according to the latest annual report.
Frohn claimed that a job transfer she was offered would not be as lucrative as the job she held, making her redundant, while Shell maintained that her job rejection amounted to a resignation.
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