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Royal Dutch Shell Plc .com News Roundup: 18 August 2014

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THE CORRUPT SULTAN OF BRUNEI – RECIPIENT OF SHELL WEDDING GIFT BRIBERY

Firstbiz. has published an article setting out 5 things it says you should know about the Sultan.

See “Meet Sultan of Brunei, the man willing to shell out more than $2 bn for Sahara’s hotels

Extract: “Ironically, the Sultan’s Beverly Hills Hotel and Dorchester Collection properties in the United States have been subject to a boycott by many, including Hollywood personalities, following the Sharia penal code — which levies harsh punishments like flogging, the severing of limbs, and death by stoning for homosexuals and adulterers — that was instituted in the country of Brunei in early May.” 

Royal Dutch Shell gave a $500,000 gift for a lavish Brunei royal wedding in September 2004. The Sultan must have been short of readies. Many would view such a large sum as a bribe. The Sultan is worth an estimated $20 billion and lives in an 1,800-room palace.

Screen Shot 2014-05-28 at 00.53.01ROYAL DUTCH SHELL PLANS TO REVIVE ARCTIC PLANS AFTER FIRST DEBACLE

Seeking Alpha reports that President Obama is closer than ever to imposing the first minimum standards for oil and gas activity in U.S. Arctic waters, as Royal Dutch Shell pursues permits that could allow it to resume drilling in the region next year. MORE

IRELAND – SHELL SPONSORSHIP BACKLASH

The Irish Times is still publishing articles about the “backlash” over Shell sponsorship of an Irish dance festival, which led to the organisers returning sponsorship funds to Shell. See “The ethical minefield of arts sponsorship” Shell has earned a bad reputation in Ireland as a result of the Shell led Corrib Gas Project, which is engulfed in controversy and scandal.

FRACKING

The Guardian has published an interesting article by Jeremy Leggett under the headline: “UK energy dependence – five hidden costs expose truth about tracking.” According to the article: “The shale boom is a bubble waiting to burst as economics of extraction falter and the trickle of bad environmental news starts to swell” MORE

CANADIAN OIL SANDS 

An article by Lauren Krugel, published by The Canadian Press claims  that “Some of the world’s costliest energy projects are in Alberta’s oilsands and some could be cancelled without higher oil prices, according to a new report by a London-based financial think-tank that focuses on climate risk. The study by the Carbon Tracker Initiative (CTI) highlighted 20 of the biggest projects around the world that need a minimum oil price of US$95 a barrel to be economically viable.” MORE

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