Shell settled all of the claims referred to above described as being “false claims”. Don Marketing also received a substantial financial package in respect of the libel proceedings which were issued after the ultimatum expired. Shell also paid all legal costs.
Posts on ‘July 12th, 2008’
Shell has reportedly made previous out-of-court settlements to Don Marketing running to several hundred thousand pounds over its ‘Make Money’, ‘Nintendo’ and ‘Now Showing’ forecourt promotions.
Shell has been warned by its solicitors not to speak to the press following Donovan’s defamation action.
Shell Oil is only changing face or name to NNPC/NPDC. This gimmick isn’t acceptable to Ogonis. The people rejects such tricks completely, as there is no difference between Shell and NNPC. They both run a “joint Venture” that makes NNPC culpable and liable to the shabby treatment and genocide of the Ogoni people as Shell.
Investors are skeptical that majors such as Exxon Mobil Corp. and Royal Dutch Shell PLC, which do everything from drilling oil to refining it to selling it, are going to have big futures. The stocks are actually down this year.
The treatment of El Paso stands in stark contrast to how the SEC handled Royal Dutch Shell PLC in 2004, when it also faced charges of inflating reserves. Shell, which ultimately reduced its proved reserves by 22.5%, paid about $150 million in fines to the SEC and British regulators.
The UK prime minister, who is to meet Umaru Yar’Adua, the president of Nigeria, in London next week, said he wanted to assist in protecting pipelines and shipping lanes in the Niger Delta.
Oil prices roared to a fresh record above $147 a barrel in intraday trade yesterday.
Buying interest was rekindled by the abandonment of a ceasefire by militants in Nigeria – who were apparently responding to a British offer to stabilise regional unrest.
A report last November from the Health and Safety Executive, which has responsibility for safety in Britain’s sector of the North Sea, was scathing about the state of some platforms.
However, confidence in the industry suffered a blow in May, when Royal Dutch Shell pulled out of the London Array, a planned 1,000MW offshore wind farm, which would be the world’s biggest on completion. Shell is in talks to sell its one-third stake to its partners in the London Array, Dong Energy of Denmark and Eon, the German energy group.
Experts said it was too soon to tell how the settlements would affect the six other companies still involved in the case Imperial Tobacco, Tesco, Wm Morrison,Safeway, Royal Dutch Shell and Co-operative Group
Shell experienced a host country taking control of an operation when Russia’s Gazprom took over the majority of Shell’s natural gas operation on Sakhalin Island in 2006. Other companies have had similar experiences in host countries.
Three days after the Czech Republic signed an agreement with the United States to host a tracking radar for an antiballistic missile system that Russia vehemently opposes, the authorities in Prague said the flow of Russian oil to their country was beginning to dwindle.
Wall Street’s concerns centred on the twin mortgage groups Fannie Mae and Freddie Mac, and concerns that American families faced a further squeeze on their spending after oil prices rose to a record $147 a barrel.
Shell, Chevron, Exxon, Total, Occidental, Imperial and most other oil majors have so far invested nearly $100bn Canadian dollars (£50bn) in the 1,160 square mile (3,000 square kilometre) “bitumen belt”, which is being called the “new Kuwait”.