British business was branded yesterday with an unprecedented corruption health warning by leading industrialised nations. They were angered by London’s dropping of an inquiry into BAE Systems’ Saudi Arabian arms deals and its failure to pursue other cases of suspected foreign bribery.
Posts on ‘October 18th, 2008’
How Washington Can Help Alaska Drill: Three years in, Shell is still waiting to recover a single barrel of oil
Two years ago, environmentalists teamed up with Alaska Natives who depend on subsistence whaling for their livelihoods and culture. They sued in federal district court in Alaska in July 2007 to stop Shell’s exploratory drilling, claiming that it could disturb the whales and interfere with traditional bowhead-whale hunts.
Mr. Ollila, 58 years old, is both the chairman of Nokia Corp. as well as the Royal Dutch Shell Plc. At Ford, he served on the board’s audit, nominating and governance committees.
Royal Dutch Shell led the way, outpacing BP after Goldman Sachs recommended switching into the former from the latter. While BP requires major investment or an acquisition to grow over the next decade, Shell’s project pipeline should drive cashflow generation, Goldman said.
A joint venture of Shell Oil and Saudi Refining Inc. was fined $350,000 for petroleum storage violations at two dozen New York Shell stations, state environmental officials said Friday. Houston-based Motiva Enterprises will also pay for a wider audit to check compliance at 88 more stations, including 40 on Long Island.
Shell unveiled plans Thursday to begin a $20-million carbon dioxide storage research project that could eventually see one million tonnes of CO2 from the Scotford upgrader near Edmonton injected into a 2,000-metre-deep well.
The detailed analysis in the 75-page OECD report puts British ministers in the dock. The authors, in a team chaired by Swiss law professor Mark Pieth, condemned the UK’s alleged tolerance of corruption.
The then prime minister, Tony Blair, aided and abetted by a compliant attorney general, personally intervened to stop a criminal investigation into BAE, on the grounds it was upsetting the company, and upsetting the Saudi royal family, who had received many hundreds of millions of pounds in secret payments.