Royal Dutch Shell Plc  .com Rotating Header Image

Shell, Exxon Ordered to Pay Groningen Earthquake Compensation

Screen Shot 2015-09-02 at 23.46.52

Screen Shot 2015-09-02 at 23.47.49

Screen Shot 2015-09-02 at 14.32.29By MAARTEN VAN TARTWIJK: Sept. 2, 2015 

AMSTERDAM—A Dutch court ruled Wednesday that Royal Dutch Shell PLC and Exxon Mobil Corp must compensate homeowners for a drop in house prices caused by earthquakes linked to production at the Groningen gas field.

The ruling could open the door to a wave of compensation claims against the energy companies, which operate the field through a joint-venture called the Nederlandse Aardolie Maatschappij BV, or NAM.

FULL ARTICLE

RELATED SEEKING ALPHA ARTICLE

Shell, Exxon ordered to pay Groningen earthquake compensation

Sep 2 2015, 12:33 ET | By: Carl Surran, SA News Editor

  • A Dutch court rules that Royal Dutch Shell (RDS.A, RDS.B) and Exxon Mobil (NYSE:XOM) must compensate homeowners for a drop in house prices caused by earthquakes linked to production at the Groningen gas field.
  • The ruling specifies that homeowners do not have do demonstrate their property has suffered physical damage, but only that its value has been affected by its location in the quake area.
  • The ruling could open the door to a wave of compensation claims against the companies, which operate the field through a joint venture which so far has set aside €1.2B ($1.4B) in part to compensate homeowners for damages to their property.

SOURCE

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each blog member is allowed limited comments, as displayed above the comment box.
  • Comments must be limited to the number of words displayed above the comment box.
  • Please limit one comment after any comment posted per post.