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Posts from ‘January, 2012’

Will disgraced Shell boss Sir Philip Watts be stripped of his knighthood?

POSTING ON SHELL BLOG BY “SirPhil” ON 31 Jan 2012

“Having read that the former RBS-CEO, Fred Goodwin, has been stripped of his knighthood by UK authorities. Makes you wonder if and when Sir Phil Watts will stripped of his one. No doubt Phil’s selfish behaviour at the helm of Shell did more harm to the industry and private investors than Fred.”

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Memos expose Shell’s years of lying

EXTRACT: The correspondence between Mr Watts and Mr Van de Vijver began in June 2001 when Mr Van de Vijver took over as head of exploration and production. He was promoted after Sir Philip was made chief executive partly because of his success with reserves. The two engaged in a “pointed dialogue”, with Mr van de Vijver complaining Shell had overbooked reserves throughout the 1990s.

‘It happened on my watch. I am determined to fix it’

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Shell Seen Raising Dividend for First Time Since 2009: Energy

Shell may even go as far as paying a special dividend or buying back shares to maximize shareholder value, according to analysts at Citigroup Inc.

Oil bargaining heads toward wire

Hamilton said the industry, represented by Shell Oil Co., also hasn’t budged on health and safety provisions the union wants in its new three-year contract.

By Dan Wallach, [email protected] (409) 838-2876

Published 02:46 p.m., Monday, January 30, 2012

The national oil contract bargaining is heading toward a midnight Tuesday deadline, but the two sides seem far apart on pay and safety rules, a local union member said today.

Eric Hamilton, chairman of the workmen’s committee at the Motiva Enterprises Port Arthur refinery, said the industry side to date has offered a pay increase of between 1.5 percent and 2 percent a year.

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Call for Norwegian Government Pension Fund disinvestment in Shell

An eminent group of scientists and professionals have sent a collective communication to the Norwegian Government Pension Fund recommending disinvestment in the oil giant Royal Dutch Shell on ethical grounds.

By John Donovan

An eminent group of scientists and professionals have sent a collective communication to the Norwegian Government Pension Fund recommending disinvestment in the oil giant Royal Dutch Shell on ethical grounds.

The pension fund has already dis-invested in several mining and forestry companies “known to cause severe environmental and human rights related harm in their operations.”

If the campaign is successful, which focuses on Shell’s horrendous track record in Nigeria, Royal Dutch Shell would be the first oil and gas company the fund would exclude from its portfolio.

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Sakhalin-2 News

Gazprom Expansion of Sakhalin-2 LNG Plant May Cost $7 Billion

January 30, 2012, 5:20 AM EST

By Jake Rudnitsky

Jan. 30 (Bloomberg) — OAO Gazprom and its partners in the Sakhalin-2 project may decide on expanding their liquefied natural gas plant this year, to add supplies by 2018, said Andrey Galaev, the venture’s chief executive officer.

An expansion may cost $5 billion to $7 billion based on preliminary estimates, Galaev told reporters today in Moscow. Depending on changes in oil and gas prices, the construction cost may drop as low as $3 billion or climb as high as $8 billion, he said.

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Weaning Royal Dutch Shell off Iranian Oil

By John Donovan

Royal Dutch Shell CEO Peter Voser is reluctantly considering how best to wean Shell off the supply of blood tainted Iranian oil. Shell is one of the biggest consumers of Iranian oil – see article below.

The relationship between Shell and Iran has continued unabated for many years, while the fanatical Iranian regime has been busy using the funds generated to supply roadside bombs to kill and maim Nato soldiers in Iraq and Afghanistan and fund its Nuclear Bomb program. The oil revenue is crucial to Iran. Hence the sanctions and sanctions busting by Shell.

Trying to avoid the odium of its association with the mad mullahs, Shell resorted to subterfuge to disguise its shipments of Iranian crude.

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Story linking Shell with Jewish skin lamp shades is gutter press

POSTING ON SHELL BLOG BY “LONDONLAD” SAT 28 JAN 2012

I am afraid that there clearly is very little news (i.e. aspects of Shell’s work) for the Donovan’s to rant on about recently. A great deal is re-printed as though it’s new but is merely old stories and anti-Shell propoganda that is old history. Yes, we learn from history but we don’t have to regurgitate it repeatedly. The lead story today linking Shell with Jewish skin lamp shades is really gutter press and totally deplorable nonsense from the Donovan’s.

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Nigeria to Ask for Compensation From Shell on Bonga Spill

By Vincent Nwanma – Jan 29, 2012 10:36 PM GMT

Jan. 29 (Bloomberg)– Nigeria will “soon” ask for compensation for an oil spill from Royal Dutch Shell Plc (RDSA), Europe’s largest oil company, President Goodluck Jonathan said.

A spill last month from the 200,000 barrel-a-day Bonga field off Nigeria, which produces nearly 10 percent of Nigeria’s crude, led Shell to stop production from the facility, the company said on Dec. 21. The export line at Bonga leaked almost 40,000 barrels of crude during a tanker loading, according to Shell estimates, making it Nigeria’s worst offshore spill in more than a decade.

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Shell’s profits surge 175 per cent to $27.3 billion

Sunday Express


Sunday 29 Jan 2012

By Tracey Boles

ROYAL Dutch Shell is set to gush full-year profits of $27.3 billion (£17.4 billion) for 2011, a 175 per cent increase in a year.

The expected surge in earnings comes despite fourth-quarter profits hurt by lower demand because of the warm winter weather.

The results, buoyed by the high cost of crude oil last year, represent a spectacular return to form for the oil giant which reported disappointing full-year profits for 2010 of $9.8 billion (£6.3 billion).

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Profits at Shell set to anger drivers

Published on Sunday 29 January 2012 00:00

HIGHER annual and quarterly profits from oil heavyweight Royal Dutch Shell are this week expected to ignite the fury of hard-pressed drivers who continue to face near record prices at the petrol pump.

But the figures are likely to spell good news for investors as analysts raise the prospect that Shell, which boasts one of the largest dividends on the FTSE, may recommend an increase in the pay-out.

Although both full-year and quarterly numbers will be released, the City will focus on profits for the last three months of 2011, which are expected to be about 20 per cent higher compared to the same period in 2010.

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Analyst: Nova Scotia offshore just one of Shell’s interests

January 29, 2012 – 4:35am By JOANN ALBERSTAT Business Reporter

Shell’s renewed interest in offshore Nova Scotia is part of a plan to expand its exploration efforts globally, an industry analyst says.

Mark Gilman, an oil and gas analyst with the Benchmark Co., said the petroleum giant has been on a lease-buying spree over the last year or two after previous projects failed to produce results.

“One might call it an accelerated upstream reinvestment drive after a period in which their upstream results had delivered somewhat less than they might have hoped,” he said in an interview earlier this week from New York.

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Union says U.S. refinery workers strike more likely

By Erwin Seba

HOUSTON | Sat Jan 28, 2012 11:16pm EST

(Reuters) – The United Steelworkers union warned on Saturday that a strike by U.S. refinery workers as early as 12 a.m. Wednesday was becoming more likely due to “the lack of a more substantive response from the industry.”

Union and oil company negotiators have been meeting since January 17 to hammer out a new three-year agreement for workers at nearly two-thirds of U.S. refining capacity.

Union negotiators have not sent out a similar warning to refinery workers in the past three rounds of contract talks with the industry.

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