Shell's chief executive, Jeroen van der Veer, said the firm had delivered "another competitive set of results".

BBC: NEWS | Business | Shell gains on refining margins

"This company has been losing ground now for many years, and I don't like that, " says Jeroen van der Veer, the 58-year-old chief executive.

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Around 1, 400 company chairmen and CEOs will also be in attendance, including News Corp. media tycoon Rupert Murdoch, Shell CEO Jeroen van der Veer, Renault President Carlos Ghosn and HSBC Chairman Stephen Green.

CNN: Economic crisis dominates Davos agenda

Last week, however, Shell Chief Executive Jeroen van der Veer told participants in a conference call that his firm and a Spanish oil company, Repsol, have entered into a preliminary understanding to help the Iranian regime develop part of its vast South Pars natural gas reserve.

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