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Posts under ‘Associated Press’

THE OPL 245 SCANDAL INVOLVING SHELL

By John Donovan

Following the raids earlier this year by Italian law officials on the headquarters of Eni in Milan and Royal Dutch Shell in The Hague, I was advised by a Shell insider that this subject, above all others, is the one of most concern to Shell senior management.

Now we have news that Nigeria’s anti-corruption agency – The Economic and Financial Crimes Commision – has just filed fresh proceedings.

Investigations are already underway in a number of countries, including the UK and the United States. read more

Nigerian militants blow up Shell oil export pipeline _ again

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screen-shot-2016-10-20-at-23-00-27Published November 09, 2016 Associated Press

WARRI, Nigeria –  Nigerian militants say they have again blown up an oil pipeline carrying crude for export from Shell’s Forcados terminal in the country’s south. It’s the third attack in eight days on the Trans Forcados pipeline network.

The first came just hours after President Muhammadu Buhari held inconclusive talks with stakeholders aimed at halting the sabotage. Militants and community leaders want development and a bigger share of revenues from oil that has massively polluted the southern Niger Delta. read more

Royal Dutch Shell says 3Q earnings rose 18 percent

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By ASSOCIATED PRESS: 1 November 2016 

LONDON (AP) — Royal Dutch Shell says third-quarter earnings rose 18 percent, boosted by increased production after the acquisition of BG Group.

The company said Tuesday that profit adjusted for one-time items and the fluctuating value of inventories rose to $2.79 billion from $2.38 billion in the same period last year.

Gains from increased production more than offset falling oil prices. Oil and gas production rose 25 percent to the equivalent of 3.6 million barrels of oil a day. That includes 806,000 barrels a day from BG assets. read more

Shell Nigeria refuses to confirm oil militants’ attack

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Published September 26, 2016 Associated Press

WARRI, Nigeria –  Shell Nigeria is refusing to confirm a report by Niger Delta militants that they have bombed its Bonny oil pipeline in the south, crippling its exports.

Friday night’s bombing breaks a month-long ceasefire between militant groups and the government and comes days after repairs from an earlier attack had allowed exports to resume.

Shell spokesman Precious Okolobo says he cannot comment on the incident.

The Niger Delta Avengers say its attack is “only a wake-up call” responding to a clampdown by security forces that it says violated the ceasefire. The military has reported arresting at least two Avenger commanders last week. read more

5 Oil Majors, One Big Nigeria Lawsuit

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September 20, 2016, 4:48 P.M. ET

By Dimitra DeFotis

Allegedly illegal Nigerian oil exports valued at $12.7 billion are at the heart of a lawsuit the country has filed against units of Chevron (CVX), Royal Dutch Shell (RDSA), Total (TOT) ENI (E) and Petroleo Brasileiro (PBR).

The case points to outsiders’ shipments to the United States between 2011 and 2014, but is likely to expose domestic corruption as well. Militants have crippled Nigeria’s oil production this year, a recurring theme over recent decades. Lagos hearings, which begin next week, come as the country struggles with the affects of policy stagnation, currency devaluation, inflation and low oil revenue. read more

Argentina energy minister asked to sell stock in Shell

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screen-shot-2016-09-09-at-20-58-10By ASSOCIATED PRESSPUBLISHED: 20:54, 12 September 2016 

BUENOS AIRES, Argentina (AP) — Argentina’s anti-corruption office is asking the country’s energy minister to sell his stock in Royal Dutch Shell, where he was an executive of the local branch.

Juan Jose Aranguren became energy minister in December. He has faced growing criticism for continuing to own a reported $1.1 million in Shell’s class A shares.

The head of Argentina’s anti-corruption office said Monday that Aranguren should get rid of his stock or set up a blind trust to handle his finances. read more

Shell to Lay Off 200 Gulf of Mexico Rig Workers

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Shell to Lay Off 200 Gulf of Mexico Rig Workers

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A Shell platform in the Gulf of Mexico (courtesy RDS)

By MarEx 2016-07-25 

Shell has announced plans to trim about 200 jobs from its Gulf of Mexico deepwater operations.

“We are making these changes in order to remain competitive and better position Shell’s Gulf of Mexico projects for future growth,” spokeswoman Kimberly Windon told the AP.

The cuts will affect personnel on nine facilities, and will reduce the oil major’s workforce in the region by about one quarter. Some will be transferred to other operations where openings are available. read more

Western leaders, CEOs visit Russia amid sanctions fatigue

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Shell CEO Ben van Beurden bows to President Putin of Russia.

NATALIYA VASILYEVA, ASSOCIATED PRESS: June 15, 2016 Updated: June 16, 2016 1:29pm

Following a meeting with Putin, Royal Dutch Shell’s CEO Ben van Beurden and state-owned gas giant Gazprom announced plans to build an LNG plant in Russia together. France’s Total is working with Russia’s largely private gas producer on a liquefied natural gas project.

The fact that the CEOs of top American companies have in a sense defied their government shows that they put their business interests before any political considerations, analysts say. read more

Argentine energy minister hit by Shell shares controversy

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By: Associated Press | Published: June 9, 2016 9:40 AM

Argentina’s government is defending its energy minister who is facing growing criticism for continuing to own shares in Royal Dutch Shell, where he was an executive of the local branch.

Juan Jose Aranguren became energy minister in December. He reported about $1.1 million in Shell’s class A shares in a wealth statement that was released this week.

Cabinet chief Marcos Pena said Wednesday that ”the law is very clear” and there is no conflict of interest. read more

Shell to end longtime sponsorship with Houston Open

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By Associated Press:
June 8 at 7:20 PM

HOUSTON — Shell Oil Co. has decided not to extend its title sponsorship of the Houston Open after next year, ending the third-longest running title sponsorship on the PGA Tour.

Steve Timms, president and chief executive of the Houston Golf Association, said Shell’s decision to leave after 2017 was a function of its business environment and that the company wants to stay involved in some capacity.

“We’re proud as heck of what will be 26 years of a long-running sponsorship,” Timms said Wednesday. “This will present some opportunities for us. We’re confident in our property. We’re in a big market and we feel good about it.” read more

Shell to Cut at Least Another 2,200 Jobs Globally

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By THE ASSOCIATED PRESS: LONDON — May 25, 2016, 6:08 AM ET

Anglo-Dutch oil company Royal Dutch Shell says it will trim at least 2,200 jobs globally amid challenging times in the oil industry.

The losses are in addition to cuts already being implemented because of the energy company’s merger with BG. The losses will include some 475 positions in the North Sea.

Oil companies around the world are slashing jobs and postponing investments to adjust to lower energy prices. Prices have fallen because production remains high even as slower economic growth, particularly in China, reduces consumption. read more

Protesters block train tracks to 2 Washington refineries near Anacortes

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Protesters walk north along West March Point Road Saturday past the Tesoro Refinery rail yard near Anacortes. About 1,000 people walked the six-mile round trip to the tip of March Point, home to two refineries. (Scott Terrell)

By PHUONG LE: The Associated Press: May 14, 2016

Hundreds of climate activists on Saturday marched to the site of two refineries in northwest Washington state to call for a break from fossil fuels, while a smaller group continued to block railroad tracks leading to the facilities for a second day. read more

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