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Posts from ‘May, 2013’

A taxing time for Shell

By John Donovan After Shell’s Arctic ambitions hit the rocks at the end of December 2012, Shell initially conceded that the ill-fated Kulluk drilling rig had left port under tow to avoid taxes. Shell then backtracked. Shell chief executive Peter Voser rejected accusations that tax issues were a factor in the move. Now we have […]

Nigerian way of life under threat from pollution

30 May 2013 Last updated at 07:24  Oil pollution is a continuing problem in the Niger Delta, with thousands of oil spills polluting farmland as well as lakes and rivers. The damage to natural resources has forced many communities to relocate, in order to find the means to make a living. But what was life […]

Shell under the skin, 10 years after crisis

For years, the independent investigation by law firm Davis Polk & Wardwell showed, executives had exchanged emails about “lying” and “fooling the market”. The would-be whistleblower, Van de Vijver, wrote in December 2003 that a report on the real reserves position “needs to be destroyed”. By Andrew Callus LONDON | Wed May 29, 2013 7:31pm […]

An Apology

By John Donovan Many of our visitors will have encountered problems accessing this website in recent days. Since Saturday night the site has once again been under exceptional traffic loads as a result of further denial of service attacks by an unknown party – and has repeatedly been forced offline.  As a consequence, we are […]

Shell To Start Drilling In Benin, Gabon For First Time

28 May 2013 VENTURES AFRICA – Oil and gas giant, Royal Dutch Shell (Shell), is set to prepare a newly-repaired oilrig to start drilling for the first time off the coast of Benin and Gabon, Dow Jones Newswires reported late on Monday. According to the newswire, the company has also targeted South Africa’s northwestern coast […]

Discovery ongoing in discrimination suit against Motiva

FROM THE SOUTHEAST TEXAS RECORD By David Yates: May 27, 2013 9:02 PM With a trial slated for September, discovery is still ongoing in litigation brought against Motiva Enterprises, which alleges the company discriminated against a black Port Arthur woman by allowing a white male certain privileges.  As previously reported, Carolyn Warwick filed a lawsuit […]

Shell Admits Kulluk Rig was Moved to Avoid Taxes

By Charles Kennedy | Mon, 27 May 2013 21:47 On 7th December 2012 Shell decided to move the Kulluk floating drill platform from its berth in Dutch Harbour, south to a Seattle shipyard where it would receive major repairs and general maintenance during the off-season. Shell claimed that they had assessed the possibility of making […]

Shell Admits Real Reason Coast Guard Had To Rescue Its Arctic Drilling Rig: Failed Tax Avoidance Scheme

By Ryan Koronowski on May 28, 2013 at 6:17 pm The main reason an offshore oil rig ran aground off the coast of Alaska late last year was because oil company Royal Dutch Shell was trying to depart state waters to avoid paying millions in taxes. Sean Churchfield, operations manager for Royal Dutch Shell in […]

Shell contractor testifies tow setup for Kulluk was modified

By LISA DEMER — [email protected]: Published May 28, 2013 An employee for a Shell contractor testified Tuesday that a heavy chain — which investigators indicated can be used to absorb the force of rough weather — was eliminated from the towing setup for Shell’s drilling rig, the Kulluk, because of concerns about handling the gear. […]

Oil Probe That EU Says Mirrors Libor May Reveal Huge Damage

Oil-price manipulation may have wrought “huge” damage to consumers, the European Union’s antitrust chief said today, as he drew comparisons with EU investigations into rigging of bank rates including Libor. EU Competition Commissioner Joaquin Almunia said, “If de facto the manipulation is confirmed, indeed, huge damages for consumers and users would have been originated by […]

BP & Shell Fixed North Sea Oil Prices for a Decade, Trader Says

Ship towing Kulluk had slime in fuel

Shell says to invest $30 billion in Australia over five years

BRISBANE | Mon May 27, 2013 3:19am BST (Reuters) – Royal Dutch Shell plans to invest $30 billion in Australia over the next five years, the firm’s outgoing chief executive Peter Voser said in a speech at an industry conference on Monday. Voser, who built the oil company into a leader in liquefied natural gas, […]

Jeroen van der Veer: Hypocrite Supreme

Mr Van der Veer (shown right) is no fan of this website. In January 2008, as was reported in The Times, we published a leaked email from him in which he forecast that world demand for oil and gas would outstrip supply within 7 years. Events has shown that he was talking nonsense on that […]

Concerns over Kulluk tax bill factored into Shell’s winter Gulf of Alaska crossing

Suzanna Caldwell: May 25, 2013 Millions of dollars in potential taxes were a primary reason Royal Dutch Shell decided to move the Arctic-ready conical drilling unit Kulluk from Dutch Harbor before the end of the year, according to the company’s Alaska operations manager. The taxes were part of a hierarchy of issues the Shell Alaska […]

The Biggest Criminal Enterprise in History

Article recommended by Esther Kiobel Published on Thursday, May 23, 2013 by The Biggest Criminal Enterprise in History Terracide and the Terrarists Destroying the Planet for Record Profits by Tom Engelhardt Call it irony, if you will, or call it a nightmare, but Big Oil evidently has no qualms about making its next set […]

Ship towing drilling rig had ‘slime’ in fuel, main engineer says

Published: May 24, 2013 at 3:58 PM ANCHORAGE, Alaska, May 24 (UPI) — A U.S. Coast Guard panel investigating the grounding of a drilling rig in Alaska heard testimony from an engineer who blamed a tow ship’s diesel fuel supply. The inquiry concerns the towing of the drilling rig Kulluk, owned by Royal Dutch Shell, […]

As Shell faces price-rig probe, its UK boss Ed Daniels backs an overhaul

Shell UK chairman Ed Daniels was away on business when investigators from the European Commission came calling at his London office this month over sensational allegations of price-rigging in the oil market. ‘But I heard about it pretty quickly,’ he says wryly. Unsurprisingly, it is not a subject he is eager to discuss: Targeted: Ed […]

Shell says Kulluk left Dutch Harbor to avoid taxes

A Royal Dutch Shell official testified Saturday that tax avoidance was the main reason for having the Kulluk oil drilling rig leave Dutch Harbor in December — 10 days before its grounding off a remote Alaska island. Saturday May 25, 2013 ANCHORAGE, Alaska (AP) — A Royal Dutch Shell official testified Saturday that tax avoidance was […]

First online publication of oil price fixing US lawsuit against Shell, BP & Statoil

This action arises from Defendants’ unlawful combination, agreement and conspiracy to fix and restrain trade in, and intentional manipulation of North Sea Brent Crude Oil (“Brent Crude oil”) and the prices of Brent Crude oil futures contracts…: Defendants deliberately reported inaccurate, misleading and false information regarding Brent Crude oil prices to Platts… By John Donovan […]

Ruthless and bad behaviour at the top of Royal Dutch Shell

The foot soldiers, of whom I was one in Shell, often took their leads from what they saw as ruthless and bad behaviour at the top – and, unsurprisingly, sometimes behaved badly themselves. (Disgraced Shell Chairman Sir Philip Watts shown right) Article by retired Royal Dutch Shell executive Paddy Briggs. I received my first monthly […]

Corrib gas field in Ireland, the scandalous project

The Corrib gas field in Ireland has become almost three times more expensive than planned and evoked local hatred against the company. The scandalous project is forgotten in Norway, however. Statoil is aware that the Corrib project has been controversial, but point out that Shell is operator for the development. ARTICLES ABOUT STATOIL, SHELL & […]

BP, Shell, Statoil Face U.S. Lawsuit After EU Oil Price Probe

By Brian Swint; May 24, 2013 The three oil producers under investigation by the European Commission for manipulating oil prices are being sued in a class-action lawsuit in the U.S. BP Plc, Royal Dutch Shell Plc (RDSA) and Statoil ASA (STL) “deliberately reported inaccurate, misleading and false information regarding Brent crude oil prices to Platts,” […]

Commodities trader sues BP, Shell and Statoil for alleged price fixing

(Reuters) – A commodities trader has filed suit against BP Plc, Royal Dutch Shell Plc and Statoil in a U.S. federal court, accusing the companies of colluding to fix prices in North Sea Brent crude oil. Thu May 23, 2013 4:33pm EDT (Reuters) – A commodities trader filed suit against BP Plc (BP.L), Royal Dutch […]

Collusion in reference prices for oil?

EXTRACTS: Oil market participants have called into question the accuracy of Platts’s benchmarks. In an August letter to the International Organization of Securities Commissions, Total Oil Trading, an arm of French oil company Total, said Platts’s prices are “out of line with our experience” several times a year. Spokesmen for BP, Shell, and Statoil declined […]

Petrol retailers to hand allegations of manipulation to European investigators

Allegations of “malpractice” in the oil market that could have cost drivers hundreds of pounds will be handed over to European investigators by a group representing 5,000 independent garages. By Rowena Mason, Political Correspondent: 12:01AM BST 23 May 2013 The Petrol Retailers’ Association said it has turned to the European Commission after British authorities failed […]

A slap for Shell

By Rob Davies: PUBLISHED 22 May 2013 Investors joined environmental protesters in giving Royal Dutch Shell a slap on the wrists, as a tenth of them failed to back the oil giant’s pay arrangements. In what is likely to be chief executive Peter Voser’s last annual meeting before he retires, some 10 per cent of […]

Women in Shell

Shell is a very macho culture. There is some tokenism with weasel words spoken about the need for diversity – but little action. Voser’s claim that there are not enough talented women available is absurd given Shell’s financial and international strengths. The reality is that Shell was always run by British accountants and Dutch engineers […]

Shell says hunt for new CEO is underway

By Andrew Callus THE HAGUE | Tue May 21, 2013 9:35am EDT (Reuters) – The hunt for Royal Dutch Shell’s (RDSa.L) next chief executive is underway, its chairman said on Tuesday, after CEO Peter Voser made what could be his last appearance at the oil group’s annual shareholder meeting. Voser announced his surprise decision three […]

Shell Environmental and Human Rights Crimes in Brazil

EMAIL RECEIVED BY JOHN DONOVAN Hello John and good-afternoon from Brazil! I don’t know whether you have been told or not but Shell and Basf have come to a judicial agreement and has paid for our rights along with medical assistance for direct former employees and its children for a lifetime. Thank you so much […]

We can’t find capable women, says Shell

Royal Dutch Shell has admitted it needs more women on its board but pleaded for “patience” as it tried to find suitable candidates. Shell chief Peter Voser told the AGM that it would be “inappropriate” to speculate on the outcome of a European Commission investigation into oil price rigging. Photo: AFP/Getty By Emily Gosden: 7:13PM BST […]

Shell suffers embarrassing shareholder rebellion over executive pay

Bonus awarded to outgoing chief executive Peter Voser prompts 8% of shareholders to vote against remuneration policy Bumper £8m pay package for Shell boss Peter Voser (Daily Mail Article) Rupert Neate The Guardian, Tuesday 21 May 2013 18.38 BST Shell suffered an embarrassing 10% shareholder rebellion against its executive pay report on Tuesday. Almost 8% […]

Watchdogs join oil giants on rack in price-fix case

It is not the first time oil companies have been in regulators’ cross hairs. In September 2006, the European Commission fined 14 firms €266.7m (£224.8m) for rigging the price of bitumen over eight years in the Netherlands. Shell received the biggest penalty. FROM THE SUNDAY TIMES Page 9, 19 May 2013 Watchdogs join oil giants […]

The scandal of alleged oil price-fixing

The whistleblower gave Halfon a statement in which he said the price of oil was being deliberately distorted: ‘I trade the oil market on a daily basis and every day the price is manipulated,’ he said. ‘There is ample oil in the system to satisfy demand at the moment. Profiteering seems to be the only […]

Peter Voser AGM comment on price-rigging: the words of a pharisee?

John No doubt you picked this up already.   The words of a pharisee (red is mine). And what does he really mean, allegations of manipulation are against everything we believe. So Shell does not believe in allegations? Manipulation is OK?: Extracts from Dow Jones Report THE HAGUE, The Netherlands–The European Union probe into potential […]

Kulluk grounding: Shell Oil testimony opens Coast Guard hearing in Anchorage

Suzanna Caldwell:May 20, 2013 A subdued Anchorage Assembly chambers turned into a federal courtroom of sorts Monday as members of the U.S. Coast Guard questioned Royal Dutch Shell officials over the grounding of one of its prized Arctic drilling vessels in stormy Gulf of Alaska winter weather. The Coast Guard’s formal marine casualty investigation hearings […]

Shell feared disaster days before Alaska rig grounding: official

(Reuters 21 May 2013) – Days before a Shell drillship went aground in the storm-tossed Gulf of Alaska, it was clear that towing failures could spell disaster for the vessel, the crew and the marine environment, a company official told a U.S. Coast Guard panel on Monday. Other probes may result in civil or criminal […]

Shell’s succession plans in focus at annual meeting

  THE HAGUE | Tue May 21, 2013 12:05am BST May 21 (Reuters) – Royal Dutch/Shell CEO Peter Voser may be making his last appearance on the podium at the company’s annual shareholder meeting on Tuesday, turning the spotlight on management’s plans for a successor. Voser announced his surprise decision three weeks ago to step […]

Price-fixing investigation targeting Shell, BP, and StatOil

John, Your readers may find the following links interesting in view of the latest allegations regarding Royal Dutch Shell, BP, StatOil, and perhaps others: Racketeer Influenced and Corrupt Organizations Act – Wikipedia, the ……/Racketeer_Influenced_and_Corrupt_Organizations_…‎ This law-related article does not cite its references or sources. You can help Wikipedia by including appropriate … Summary – RICO predicate offenses – Application of RICO laws – Famous cases […]

Oil Bosses Covered in Mystery Substance

Shell directors face up to 5 years in jail if guilty of price-fixing

By John Donovan Assessment of current situation in the price-rigging investigation partly based on an articled published today by The Lawyer today under the headline “All eyes on energy“: Royal Dutch Shell is being advised by Clifford Chance in relation to the allegations of price-fixing. Competition lawyers say that the investigation could be “bigger than […]

Groningen Exxon/Shell gas fields – the Dutch earthquake zone

By Anna Holligan BBC News, The Netherlands As earthquakes become more intense and more frequent in the north of the Netherlands, there is mounting pressure on the government to reduce the amount of gas being extracted there. It is a curse for thousands of inhabitants having to cope with the effects of living amid the […]

You can’t be sure of seeing Shell’s AGM

If you couldn’t travel to the Hague to protest, you could always attend the live link-up in London. But now you can’t even do that Rupert Neate: The Observer, Sunday 19 May 2013 Angry about the oil giants allegedly fixing the price of petrol for more than a decade? You’ll have a chance to harangue […]

EU oil price probe underlines flawed system

FINANCIAL TIMES By Ajay Makan and Javier Blas in London: May 17, 2013 5:48 pm In simultaneous raids this week on the offices of the oil majors BP, Royal Dutch Shell and Statoil of Norway, and Platts, a leading price reporting agency that helps set energy benchmark prices, the European Commission has fired the starting […]

Secret papers ‘show how Shell targeted Nigeria oil protests’

Documents seen by The IoS support claims energy giant enlisted help of country’s military government By Andy Rowell Sunday 14 June 2009 Serious questions over Shell Oil’s alleged involvement in human rights abuses in Nigeria emerged last night after confidential internal documents and court statements revealed how the energy giant enlisted the help of the […]

Selection of Shell related article links19 May 2013

Selection of Shell related article links kindly provided by a regular contributor If ‘everyone knew’ the oil market was open to rigging, why did no one …The Guardian-It is worth spelling out that manipulation of the oil market, which could … Statoil, BP and Shell are not just petrol providers – they are major gas … European probe into oil price-fixing widens to Finland: 17, 2013: […]

Shell and BP in secret meetings about oil

Top petrol chiefs held talks once a year: The whistleblower claimed the office was swept for bugs before the talks, lasting nearly two hours. He added: “The security around their meetings was incredible. There was lock-down. The whole floor was a no-go area for anyone else. “It was just the two of them — the […]

Shell: oil market regulation will cost consumers

Royal Dutch Shell lobbied against proposed European rules designed to clamp down on commodity market abuse, arguing they would raise costs for consumers and increase market volatility. Shell argued strongly against elements of EC reforms to “strengthen the fight against market abuse across commodity and related derivative markets”. By Emily Gosden: 10:00PM BST 18 May […]

Shell and BP bosses met secretly to fix oil prices?

The Sun newspaper alleges Shell boss Jeroen van der Veer secretly met Lord Browne of BP once a year to discuss oil prices. Perfectly matched pair to engage in some jiggery-pokery. By John Donovan The Sun newspaper alleges Shell boss Jeroen van der Veer secretly met Lord Browne of BP once a year to discuss […]

Libor in a barrel

Oil markets fall under the suspicion of price-fixing on a global scale May 18th 2013 |From the print edition IT IS a lesson of the past five years that benchmarks in unregulated markets can fall victim to the incentives they create. Subprime mortgages bundled into securities often won high scores from ratings agencies that stood […]

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