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Posts from ‘January, 2013’

Shell tries to downplay historic precedent setting verdict

By John Donovan The Times published an important article by Tim Webb today under the headline: “Shell counts cost of oil damage in Niger Delta.” (Page 39, Thursday 31 Jan 2013). Tim correctly makes the simple, but immensely important point: “IT IS THE FIRST TIME THAT A COURT OUTSIDE NIGERIA HAS ORDERED SHELL TO PAY […]

Shell: The Slumbering Giant

Thursday, January 31, 2013 By ANDREW PEAPLE Royal Dutch Shell RDSB.LN -2.88% isn’t an obvious candidate for sympathy. The oil and (increasingly) gas major raked in $26.6 billion last year, with Brent crude-oil prices averaging above $100 per barrel. Yet Shell’s full-year earnings were 14% down on 2011 and missed consensus forecasts, while its oil output […]

Shell to Boost Exploration Spending

January 31, 2013 Falling profits at Royal Dutch Shell last year could be explained by volatile oil and gas prices. But Heard on the Street’s Andrew Peaple reckons economies of scale may no longer be working for the oil behemoth. LONDON—U.K.-listed oil and gas company Royal Dutch Shell RDSB.LN -2.73% PLC Thursday said it would increase […]

Shell Misses Profit Estimates, Says Investment Costs to Increase

By Brian Swint – Jan 31, 2013 8:04 AM GMT Royal Dutch Shell Plc (RDSA), Europe’s biggest energy company, said investment will increase after fourth-quarter profit missed analyst estimates on weaker North American fuel prices. Excluding one-time items and inventory changes, profit was $5.6 billion. That was below the $6.2 billion average estimate of 11 […]

Royal Dutch Shell profits hit by oil price volatility

31 January 2013 Last updated at 07:41 Annual profits at Royal Dutch Shell have fallen to $27bn (£17bn), from $28.6bn in 2011. Profits for the last three months of the year rose to $7.3bn, against $6.5bn, but Shell was hit by generally weaker oil and gas prices during 2012. Peter Voser, chief executive of Europe’s […]

Dutch court says Shell responsible for Nigeria spills

(Reuters) – A Dutch court ruled on Wednesday that Royal Dutch Shell’s Nigerian subsidiary was responsible for a case of oil pollution in the Niger Delta and ordered it to pay damages in a decision that could open the door to further litigation.  By Ivana Sekularac and Anthony Deutsch THE HAGUE | Wed Jan 30, […]

Shell faces damages over Nigeria oil spill

Speaking to Al Jazeera, Channa Samkalden, a lawyer acting on behalf of the Nigerian farmers, said:  “Overall it’s actually quite a good outcome for us. “At least Shell was held liable for one of the cases. That’s a good start. Also, a very important fact is that the court has said that Shell has a […]

Dutch court rejects most of Shell spill case

A Dutch court has ruled that a subsidiary of international oil giant Royal Dutch Shell should be held responsible for pipeline leaks poisoning farmland in Nigeria. It was believed to be the first time a Dutch court has held a multinational’s foreign subsidiary liable for environmental damage and ordered it to pay damages. A Friends […]

Shell Nigeria case: Court acquits firm on most charges

A Dutch court has rejected four out of five allegations against Anglo-Dutch oil giant Shell over oil pollution in Nigeria’s Niger Delta region. But it found a subsidiary of the firm, Shell Nigeria, responsible for one case of pollution, ordering it to pay compensation to a Nigerian farmer. 30 January 2013 Last updated at 13:02 […]

How Four Nigerian Villagers Took Shell to Court

Four Nigerian villagers from the Niger River delta have challenged mighty Shell in a Dutch court. They complain that the oil giant has caused environmental devastation and ruined their homes. A verdict in the unprecedented case is expected today. Battling Big Oil: How Four Nigerian Villagers Took Shell to Court By Nils Klawitter Four Nigerian […]

Dutch civil court ruling on Shell’s responsibility for cleaning up oil spills in Nigeria

Published January 30, 2013 by Associated Press THE HAGUE, Netherlands –  Dutch judges are ruling in a landmark civil action by Nigerian farmers who want to hold oil giant Shell liable for poisoning their fish ponds and farmlands with leaking pipelines. The decision being announced Wednesday could set a legal precedent for holding multinationals responsible […]