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Posts under ‘Ben van Beurden’

Shell oil sands exit, mired in OPL 245 scandal, wary over Iranian Oil

Links below to a selection of news stories posted on
our sister website royaldutchshellgroup.com.

They include, among other developments, news that Shell is rightly wary of buying more Iranian crude oil. This is because of the legal minefield relating to sanctions. 

Also coverage of the latest news about the OPL 245 Nigerian corruption scandal involving Shell and ENI.

Plus Shell’s fire sale of most of its Canadian oil sands operations and the jump in total pay for Shell CEO Ben van Beurden, an issue likely to be raised at the forthcoming AGM. 

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Shell Multimillionaire CFO Simon Henry Departs Today

UPDATED WITH MORE LINKS: “Simon Henry has loads of money now. Plenty to pay lawyers to sue me for defamation if anything I have stated is untrue. He also has me to thank for the above Daily Mail article.”

By John Donovan

Despite his well-documented role in the Shell oil and gas reserves scandal over a decade ago, Simon Henry clung on and ended up hitting the jackpot when appointed Chief Financial Officer of Royal Dutch Shell Plc. He is departing that job today but will become an employee of Shell International Limited on 1 April 2017, April Fools Day, for a two-month “transition” period. Perhaps he needs the time to count his cash while having a good laugh at Shell investors.

Many millions of dollars including payment for loss of office, various bonus payments and yet more millions from the sale of some of his shares – two helpings, each for over £1m.

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Dysfunction Crisis and Scandal at Shell Norway

Printed below is an EnergyVoice.com article about defects found at Shell’s Norway gas plant. These were uncovered during a recent inspection carried out by The Petroleum Safety Authority of Norway.

Actually, the situation is far more serious. On Saturday I supplied certain related information to Ben van Beurden just in case he has been kept in the dark. The ball is in Shell’s court.

Shell knows I intend to publish an array of leaked communications and other information they would prefer to keep secret.

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Shell’s Role in Irish Police Corruption Scandal

By John Donovan

In April 2013, I informed Alan Shatter, the then Irish Minister for Justice & Equality about widespread corrupt practices involving the Irish police. I received an emailed acknowledgement of the warnings from his then Private Secretary Damien Brennan.

Shortly thereafter Shatter was forced to resign after a state-commissioned report found that both the government and police had failed to properly address allegations of Irish police corruption.

Shell was a corporate sponsor of corruption in Ireland aided and abetted by its then”Mr Fixit” company OSSL, who to this day, freely admit their involvement in distributing bribes on behalf of Shell to smooth the path of the controversial Corrib Gas Project.

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Brexit, Trump, Populism and Royal Dutch Shell Plc

By John Donovan (right)

Brexit and Trump are the most visible current manifestations of populism – examples of ground-breaking nationalist movements backed by a large proportion of a voting population.

Populism is on the rise in a number of EU countries including Germany, France and the Netherlands, where there is mounting concern over PVV leader Geert Wilders.

What is described as “encroaching populism and negativism” is apparently viewed as a serious threat by Dutch multinationals, including Shell, Philips and Unilever.

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Royal Dutch Shell CEO: Dividends No Longer No.1 Priority

One of our regular contributors has picked up on a priority switch by Shell senior management which may frighten shareholders in Royal Dutch Shell Plc.

During an interview with Michelle Fox of CNBC earlier today, Ben van Beurden the Chief Executive Officer of the company said: In terms of debt paydown and covering of dividends two important priorities – Debt No 1, Dividend No 2. 

Michelle Fox asks… When you say Dividend is number two does this mean you could change the level going forward?  Mr Van Beurden made reassuring noises about the dividend but noticeably did not backtrack on his relegation of dividend payment levels to being a secondary priority

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Ben van Beurden admits earnings figures do not “look good” for investors

Royal Dutch Shell Plc has today announced its disappointing fourth-quarter figures. The Company turned in one of its worst performances in more than a decade.”

The Telegraph says that the company has dashed investor hopes for a resurgence in profits. It reports that “for the year as a whole Shell deepened its losses in its exploration and production business from $2.2bn to $2.7bn”.

CNBC says that Ben van Beurden, CEO of Royal Dutch Shell Plc has conceded that the earnings figures do not “look good” for investors. Their article headline says: Shell posts earnings of $3.5 billion in 2016; an 8% slide from $3.8 billion in 2015

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Shell boss Simon Henry cashed in £1m days before he suddenly resigned

Shell boss Simon Henry 

IMAGES FROM DAILY MAIL ARTICLES PUBLISHED FRIDAY 16 DECEMBER 2016.

ALSO PUBLISHED BY THE DAILY MAIL ON THE SAME DATE

Shell finance boss tipped to take over the top job cashed in stock worth £1m days before he suddenly quit

By Rachel Millard For The Daily Mail: 21:58, 15 December 2016 

A finance boss at Royal Dutch Shell who was tipped to take over the top job has suddenly left – just days after he sold stock worth £1million.

Credited with leading the firm’s £41billion takeover of oil and gas group BG last year, Simon Henry was a key lieutenant of chief executive Ben van Beurden.

But the 55-year-old’s departure was announced yesterday to the shock of the markets. Relatively unknown internal finance executive Jessica Uhl has been appointed in his place.

It emerged Henry sold more than £1million of shares on December 1, within 24 hours of the historic Opec deal to cut production that then sent the price of oil soaring.

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Shell finance chief to leave company in March

By Karolin Schaps | LONDON

Royal Dutch Shell (RDSa.L) Chief Financial Officer Simon Henry will step down in March after seven years in the post and be replaced by Jessica Uhl, a finance executive in Shell’s gas business.

Henry, a 55-year-old Shell veteran, was one of the executives who oversaw the $54 billion (43.27 billion pound) acquisition of BG Group, which completed in February, and the integration of the gas company which turned Shell into the world’s largest liquefied natural gas (LNG) trader.

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Shell picks American former Enron exec for CFO

Royal Dutch Shell executive Jessica Uhl has been elevated to chief financial officer for global operations.

Uhl, the current executive vice president of finance for integrated gas, begins her new post in March and will continue to work at The Hague.  She will replace CFO Simon Henry, who will assist with the transition through June.

Before joining Shell in 2004, Uhl was a director of project development and later a vice president of corporate development for Enron in Houston and Panama.

Uhl also will serve as an executive director of Shell and sit on the executive committee. Shell CEO Ben van Beurden praised Uhl’s promotion.

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Shell finance chief Simon Henry to leave after 30 years with the oil major

Caitlin Morrison deputy digital editor at City A.M: Thursday 15 December 2016 8:47am

Royal Dutch Shell announced today that finance chief Simon Henry will step down in March 2017, to be replaced by Jessica Uhl.

Henry – who was appointed to the Lloyds Bank board in 2014 – has been with Shell for over 30 years, and has been chief financial officer for seven.

“I have been privileged to spend the past 34 years working with great colleagues, in a great company,” said Henry.

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