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March 7th, 2008:

Eastern Daily Press: Bacton: We need more information

ED FOSS

07 March 2008 18:58

Swifter communication with villagers in the event of any incident and more information about the day-to-day goings on at Bacton gas terminal are the key to improving relations between gas operators and their close neighbours.

That was the message delivered by Bacton Parish Council chairman David Gale during a one-to-one meeting with Shell plant manager Don Paulino.

Mr Paulino pledged to work hard to improve relations and stressed that a good relationship with villagers in Bacton was highly important to both him and the company. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

environmental-finance.com: Sakhalin abandons petition to UK and US export credit agencies

London, 6 March: The consortium behind the much-criticised Sakhalin II oil and gas project in Russia has withdrawn applications for support from the US and UK export credit agencies, citing their drawn-out and uncertain timetable for decision making.

However, environmental groups claimed Monday’s decision to cancel applications to the UK’s Export Credit Guarantee Department (ECGD) and the US Export Import Bank (Ex-Im) as a success for their campaign against the project. Dmitry Lisitsyn, chairman of local NGO Sakhalin Environment Watch, said: “We celebrate this tremendous victory. Since its inception over a decade ago, Sakhalin II has committed severe environmental violations of these public banks’ policies.” read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

energyrisk.com: Crude rally continues as analysts eye $115 oil

7 March 2008 : London

West Texas Intermediate (WTI) crude for April delivery surged to over $105/bbl on Thursday as analysts questioned how much longer the rally could continue.

WTI had reached an intra-day high of $105.97 and a low of $99.88 during a volatile day on the New York Mercantile Exchange (Nymex), following Wednesday’s record closing price of $104.56.

ICE Brent crude for April delivery rose by $1.01 to settle at $102.65 per barrel after reaching $102.95 per barrel on the ICE Futures Europe exchange in London. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

HamptonRoads.com: Top Iraq contractor skirts U.S. taxes offshore (*Shell has strong connections with Halliburton…)

© March 7, 2008
By Farah Stockman, The Boston Globe

CAYMAN ISLANDS

Kellogg Brown & Root, the nation’s top Iraq war contractor and until last year a subsidiary of Halliburton Corp., has avoided paying hundreds of millions of dollars in federal Medicare and Social Security taxes by hiring workers through shell companies based in this tropical tax haven.

More than 21,000 people working for KBR in Iraq – including about 10,500 Americans – are listed as employees of two companies that exist in a computer file on the fourth floor of a building on a palm-studded boulevard in the Caribbean. Neither company has an office or phone number in the Cayman Islands. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Houston Business Journal: Shell divests some Oregon stations to PacWest

Thursday, March 6, 2008 – 11:51 AM CST

Shell Oil Products US has transferred ownership of 84 branded sites in the Portland, Ore., area to Pacific West Energy LLC.

Financial terms of the agreement were not disclosed.

Washington-based Pacific West Energy LLC, or PacWest, is a joint venture between Houston-based Shell and Jacksons Food Stores Inc., based in Meridian, Idaho.

The sites will continue to sell Shell-branded gasoline, but 62 of the convenience stores will be rebranded to the Jacksons brand. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

indymedia.org.uk: Shell Shuts Up

Pueblo Unido
07.03.2008 12:44
Nottinghamshire

Student activists raised issues such as corporate corruption and climate change at a Shell-run event. Shell employees only commented “I do not have an opinion on this subject” when asked how they respond to these polemical matters.

A hugely successful disruption/complete domination of the Shell “Recruitment Event” took place last night.

A group of seven Nottingham student activists utilised the event’s exercise of identifying “risks” Shell might face when drilling for oil of the coast of a West African island to raise awareness amongst potential Shell graduate employees and send a message to Shell that they are not welcome in Nottingham. The activists employed varying tactics with some preferring to employ a highly effective “Yes Men” style, some sporting anti-shell clothing, others distributing leaflets about the corporation and others still opting for outright, heated debates with (rather disheartened and dispirited) Shell employees. Despite the fact that students tackled Shell differently, an impressive sense of unity was achieved as four out of the five groups’ presentations ended with harsh criticism of the corporation. Such criticism included a condemnation of Shell’s previous brutal, corrupt, murderous and polluting history in West Africa, the corporation’s implication in peak oil, climate change and the necessity of the rejection of the global economic system which has led to climate change and absolute poverty in the first place. During the question and answer section at the end of the presentations the need for real solutions to the climate change challenges was raised – not “green wash”, not “Corporate Responsibility” and not bio fuels. Despite there being a bio-fuels “expert” from Shell present, whilst all of these issues were being raised by the students the corporation’s employees remained strangely quiet. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Bloomberg: Shell Says Canada Fuel Supply `Tight’ on Lower Runs (Update1)

By Eduard Gismatullin

March 7 (Bloomberg) — Royal Dutch Shell Plc, Europe’s largest oil company, said fuel supply in western Canada is “tight” because of lower output from refineries.

Shell cut crude processing at its Scotford refinery in Alberta because of reduced supply from a plant used to convert oil sands into crude. The drop will further trim fuel supplies in the region after “operating issues” curbed output at Imperial Oil Ltd.’s Edmonton, Alberta, refinery. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Long Island Business News: Full-court press for Shell Oil

By David Reich-Hale and Michael H. Samuels
Friday, March 7, 2008

Shell Oil Co. President John D. Hofmeister went on the offensive this week, saying that if New York officials derail the Broadwater liquified natural gas terminal planned off the coast of Wading River, Long Island residents will continue to be choked by electricity and gas costs.

Hofmeister added that Broadwater, a joint venture between Shell and TransCanada Corp., would save ratepayers $300 per household annually by pumping 1 billion cubic feet of natural gas into Long Island. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Financial Times: No excuse for absence from lessons in right and wrong

By Alison Maitland
Published: March 7 2008 02:00 | Last updated: March 7 2008 02:00

Cases such as BP’s safety lapses in the US, the collusion between British Airways and Virgin Atlantic Airways over fuel surcharges and the corruption scandal at Siemens are not only damaging by themselves but feed cynicism about the wider effectiveness of companies’ ethical codes and controls.

In an effort to ensure codes are followed, companies are stepping up training programmes, according to a survey* published yesterday by the Institute of Business Ethics. Seven out of 10 large companies in the UK now train employees in how to apply their codes of conduct. Four years ago, less than half had such training programmes. In the US, the Ethics Resource Center reports a similar increase in training. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

e-International Relations: Shell, Nigeria and the Record Price of Oil

Friday 07 March 2008

“The extraction and drilling of petroleum in Nigeria is the largest industry and main generator of GDP in the West African nation which is also the continent’s most populous. Since the British discovered oil in the Niger Delta in the late 1950s, the oil industry has been marred by political and economic strife largely due to a long history of corrupt military regimes and complicity of multinational corporations, notably Royal Dutch Shell.” 

The above is the current opening paragraph of the Wikipedia article “Petroleum in Nigeria”. Although all oil companies operating in Nigeria have faced the same basic problems, Shell has acquired far and away the worst reputation, particular in the Niger Delta with minority ethnic groups. This stems from alleged exploitation of oil and gas resources and environmental pollution resulting partly from long term gas flaring. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Financial Times: Shell settles final claim on misreporting of reserves

By Sylvia Pfeifer in London
Published: March 7 2008 02:00 | Last updated: March 7 2008 02:00

Royal Dutch Shell yesterday tried to draw a line under one of the darkest chapters in its corporate history by settling the final class-action claim arising from an oil reserves misreporting scandal in 2004.

The Anglo-Dutch oil group shocked investors four years ago when it announced it had overstated its proven oil and gas reserves.

The scandal sent shares in Shell plummeting and eventually led to the departure of its three most senior executives, including Sir Philip Watts, the then chairman. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Financial Times: Final settlement draws line under Shell scandal

By Sylvia Pfeifer
Published: March 7 2008 02:00 | Last updated: March 7 2008 02:00

Royal Dutch Shell has tried to draw a line under one of the darkest chapters in its corporate history by settling the final class action claim arising from an oil reserves misreporting scandal in 2004.

The Anglo-Dutch oil major shocked investors four years ago when it announced it had overstated its proven oil and gas reserves. Shares in Shell plummeted and the scandal led to the departure of its three most senior executives, including Sir Philip Watts as chairman. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Times: Shell settles oil reserves action with $80m payout

March 7, 2008
Robin Pagnamenta

Royal Dutch Shell has agreed to pay $80 million (£39.8 million) to settle an American class action lawsuit related to a 2004 downgrade of the oil giant’s reserves.

Shell said that it had reached an agreement in principle with two pension funds, the Pennsylvania State Employees’ Retirement System and the Pennsylvania Public School Employees’ Retirement System. They had begun litigation after accusations that Shell had misled investors for years by overstating its reserves of oil and gas. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

THE WALL STREET JOURNAL: Shell Will Settle Claims Over Its Energy Reserves

By BENOIT FAUCON
March 7, 2008

LONDON — Royal Dutch Shell PLC agreed to pay about $118 million to settle claims regarding its energy reserves.

It said it reached a deal to settle claims from U.S. shareholders, complementing an agreement last year to pay close to $400 million to settle a Dutch case with European shareholders.

The settlements, if approved by the courts, would put an end to the years of litigation that followed a reserves restatement in 2004.

The U.S. lawsuit was brought by the Pennsylvania State Employees’ Retirement System and the Pennsylvania Public School Employees’ Retirement System after the oil group revealed it had overstated its proved reserves by about 20%. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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