Royal Dutch Shell Plc  .com Rotating Header Image

Posts under ‘Eni’

Dutch Court Upholds $5.2 Billion Asset Freeze On Kazakhstan Oil Field

Frozen Assets Securing a $520 Million Award Against Republic of Kazakhstan 

NEW YORK, Jan. 8, 2018 /PRNewswire/ — On January 5, 2018, Amsterdam District Court issued a judgment (the “Judgment”) in which it upheld an earlier ex parte attachment granted by the same court on September 8, 2017 to Anatolie Stati, Gabriel Stati, Ascom Group S.A. and Terra Raf Trans Traiding Ltd (together, the “Stati Parties”) with respect to the Republic of Kazakhstan’sshareholding in the Dutch entity KMG Kashagan B.V. (“Kashagan”) which shareholding is held via the Kazakh sovereign wealth fund Samruk-Kazyna (“Samruk”).  Through its stake in Kashagan, which has a nominal value of approximately US$5.2 billion, the Kazakh State participates in the international consortium relating to the Kashagan oilfield, one of the largest offshore oilfields in the Caspian Sea. Other members of the consortium include Eni, Royal Dutch Shell, Total, ExxonMobil, China National Petroleum Corporation and Inpex. FULL ARTICLE read more

Quest for new oil discoveries still on back burner

Ron Bousso: January 4, 2018

LONDON (Reuters) – Despite the strongest start for oil prices in four years, the world’s top oil companies are hesitating to accelerate the search for new resources as a determination to retain capital discipline trumps the hope of making bonanza discoveries. Exxon Mobil, Royal Dutch Shell, Total and their peers are set to cut spending on oil and gas exploration for a fifth year in a row in 2018, according to consultancy Wood Mackenzie (WoodMac), despite a growing urgency to replenish reserves after years of reining back investment. FULL ARTICLE read more

OPL 245: Shell Den Haag HQ was raided by 60 investigators

Snippets from an article originally published by Dutch magazine Vrij Nederland on 9 November 2017. Translated from Dutch to English by Iefke Prins.

Clearly, Shell has played a crucial role in criminal activities; ‘the most important decisions were made at the headquarters in Den Haag’; Top management at Shell looked the other way and did not want any contact with Etete’; In the early morning of 17 February 2016, thirty tax authority investigators together with thirty Italian colleagues raided the Shell headquarters at the request of the Italian prosecutor. In the directors’ offices, 1800 pages of documents and e-mails were seized.; According to the e-mails, Shell was very much aware that Etete was corrupt.; On the day of the raid on Shell’s offices, the company’s CEO Ben van Beurden’s phone was wiretapped by Dutch police. In a leaked conversation with CFO Simon Henry, he mentioned ‘unhelpful e-mails’ from Copleston, who speculated ‘who would get paid what’. Van Beurden chalked up the conversations as ‘pub talk’, which he called ‘foolish’. He also decided that it would be better if the raid would not be reported to shareholders.; He instructed CFO Henry to ‘not voluntarily say anything other than what’s being asked’ to the authorities.; Shell’s behavior is all the more striking because the company was already under enhanced control by US authorities because of another Nigerian corruption case.

FULL ARTICLE BELOW

Bags filled with Naira’s were divided amongst politicians. Photo: Shuttershock.

A scheme to purchase an oil field from a corrupt Nigerian former minister of oil was devised and approved at Royal Shell’s headquarters in The Hague. The complete file landed on journalist Harm Ede Botje’s desk. A reconstruction.

A raid on Shell’s headquarters, two former UK Secret Service MI6 agents negotiating with a corrupt Nigerian former minister of oil affairs on behalf of Shell, a former Russian ambassador intermediary in talks with the FBI, a fugitive Nigerian ex-Minister of Justice, millions of dollars in kickbacks for employees of the Italian oil company Eni, bags of Nigerian Nairas being divided among politicians and businessmen. They seem the right ingredients for a riveting thriller, but these events actually happened. read more

JP Morgan ‘sent $800m to Nigerian fraudster Dan Etete’

An agreement was struck under which Malabu would be paid to give up the licence, which would then be sold to Shell and the Italian oil company Eni.

17 Dec 2017

The Nigerian government is suing JP Morgan for $875m (£660m), alleging the Wall Street banking giant acted as the middleman in an illegal oil deal and made payments to a convicted money launderer.

Papers filed with the High Court in London claim that in 2011 the bank transferred money to a company controlled by Dan Etete, a former oil minister in the Nigerian government. He had previously been convicted of money laundering by French courts and is being pursued by Nigerian authorities. read more

Leaked documents reveal how Shell blackmailed Nigeria in Malabu deal

29 December 2017

Confidential internal documents of Royal Dutch Shell suggest that the oil giant capitalised on the 2011 presidential election to arm-twist the federal government into a “cheap” deal over the sale of the disputed OPL 245.

The international oil company also used an arbitration case it filed with the International Centre for the Settlement of International Disputes (ICSID), an organ of the World Bank, to railroad the government into brokering truce between it and Malabu Oil and Gas Ltd, its estranged erstwhile partner and the original licensee. read more

New Arctic Well Spudded

Credit: BSEE: By =&0=&2017-12-27 18:15:55

Oil exploration in U.S. Arctic waters got underway this week with the spudding of a new oil well from the man-made Spy Island in the Beaufort Sea. Eni began drilling the new well off the north coast of Alaska, becoming the first company to do so since 2015.The well is expected to be over six miles (10 kilometers) long, and the project could result in oil production levels of 20,000 barrels a day. Eni is working with Royal Dutch Shell and plans to drill two exploration wells plus two potential sidetrack wells over the next two years. FULL ARTICLE read more

Italian oil and gas firm Eni buys out Shell’s stake in Evans Shoal gas field

GARY SHIPWAY, NT News: 

THE Italian oil and gas firm that operates the Blacktip gas project, which supplies gas for Territory domestic power generation, has taken another significant step forward in its growth plans off Northern Australia. ENI has bought out Shell’s stake in the large undeveloped Evans Shoal gas field 300km northwest of Darwin in the Timor Sea’s Bonaparte Basin. FULL ARTICLE

Italy’s Eni begins drilling oil well in Alaska’s Beaufort Sea: BSEE

DECEMBER 27, 2017

HOUSTON (Reuters) – Italian oil producer Eni this week began drilling a new well in U.S. waters off the north coast of Alaska, becoming the first company to do so since 2015, federal regulators said on Wednesday.

The oil and gas firm is working from an artificial island in the Beaufort Sea about three miles off Oliktok Point in the Arctic Ocean. The well is expected to run more than 6 miles (10 km) long.

The project could result in 20,000 barrels a day of oil production, according to regulator U.S. Bureau of Safety and Environmental Enforcement (BSEE), which said it sent employees to the site to ensure compliance with federal regulations and safety standards. read more

OPL 245: When will Shell CEO Ben van Beurden be forced to resign?

Listen to wire-tapped call implicating Ben van Beurden in OPL 245 corruption cover-up. 

By John Donovan

  • Hear an admission by BvB that Shell had not been open with the U.S. Dept of Justice in regard to a related Shell Nigerian corruption scandal already subject to a 61 page Deferred Prosecution Agreement.
  • Concern expressed by BvB over potential share-price sensitive fallout, rather than the obvious priority of being open with shareholders as pledged in Shell’s claimed business principles. 
  • Express instruction from BvB to Simon Henry at the close of the call: “don’t volunteer any information that is not requested.” How can that be construed other than as potential obstruction of an investigation involving police and the other important authorities BvB mentions. Significantly, Simon Henry did not resist that unethical and perhaps criminal instruction. Even if material evidence was discovered internally at Shell, the unavoidable implication was that its existence should not be disclosed to the police. That order came from the very top. BvB has not made an apology or comment on his instruction. 
  • Inexplicably, both BvB and Simon Henry chuckled at times during the discussion. Perhaps a case of Shell shock at the dawn raid carried out at Shell HQ earlier that day by an army of 60 investigators, which triggered the call?

Listen and read the proof in audio and transcript form confirming  current Royal Dutch Shell CEO Ben van Beurden and then CFO colleague Simon Henry have both been infected with the deeply ingrained culture of cover-up adopted by successive Shell executive directors.

At the time of the incriminating wire-tapped telephone conversation in Feb 2016, a police dawn raid had just taken place at RDS HQ in The Hague searching for evidence in relation to the OPL 245 billion dollar Nigerian oil deal corruption scandal. read more

Shell and top managers are being prosecuted

The Dutch Public Prosecution Service is also investigating whether Shell and four (former) directors, including the current chairman of the board, Ben van Beurden, will be prosecuted for this corruption case. According to Professor of Business Ethics Wim Dubbink, the argument that corruption is inevitable in some countries is “morally and legally an invalid argument”.

Translated from an article published in Dutch language on 21 Dec 2017 by nrc.nl

Corruption

The lawsuit in Milan is about paying over one billion euros for a Nigerian oilfield by Shell and the Italian Eni.

  • Hester van Santen
  • Erik van der Walle
21 December 2017

Justice in Italy took a historic decision on Wednesday. Never before have a company with the size of Shell and such senior managers been sued by corruption. In addition to Shell, the Italian oil company Eni is being prosecuted for bribery in the purchase of an oil field in Nigeria six years ago.

Also (former) top executives of Eni and Shell are prosecuted in the case, including the current CEO of the Italian oil company Eni, Claudio Descalzi. Four former employees of Shell are also suspects, including former British board member Malcolm Brinded. read more

Shell is being charged with corruption in Nigeria

Shell employees at a borehole in Nigeria in 2002 where the oil comes from the ground and flows via pipes to terminals. Photo: Hollandse Hoogte / Sven Torfinn

…the crimes that would have taken place under the responsibility of Shell were carried out by Malcom Brinded, Peter Robinson, Guy Colegate and John Coplestone between autumn 2009 and 2 May 2014.

Translated from an article published in Dutch language on 20 Dec 2017 by Het Financieele Dagblad

Shell is being charged with corruption in Nigeria an Italian judge decided this afternoon. The lawsuit starts in Milan on 5 March.

In addition to Shell, the Italian oil and gas company Eni and its current CEO, Claudio Descalzi, and a number of former Shell directors are also being put on trial. The verdict follows after months of preliminary investigation and a number of hearings in Milan. read more

Eni Acquires Shell Stake in Australian Gas Field

By Marc Bisbal Arias  Dow Jones Newswires

Eni SpA (ENI.MI) said Thursday that it has acquired the 32.5% stake in an Australian gas field owned by Royal Dutch Shell PLC (RDSA.LN)’s subsidiary Shell Australia Proprietary Ltd.

Terms of the deal were not disclosed.

The Evans Shoal field is located around 300 kilometers northwest of Darwin, where the Darwin liquefied natural gas plant is operating. The field is estimated to have at least 8 trillion cubic feet of raw gas in place, Eni said. The acquisition doubles Eni’s stake in the field to 65%.

The Italian company also said that it has become the operator of the retention lease NT/RL7 located in the north Bonaparte Basin, offshore Northern Australia. read more

Shell, Eni Face Italian Charges Over Nigerian Deal -Update

By Eric Sylvers in Milan and Sarah Kent in London Features Dow Jones Newswires 

Royal Dutch Shell PLC, the chief executive of state-backed Italian energy company Eni SpA and other industry executives must stand trial on corruption charges connected to a 2011 Nigerian oil deal, an Italian judge ruled Wednesday.

The prosecution marks a rare case in which top oil executives could face jail time for corruption allegations.

Prosecutors say in court documents that Eni CEO Claudio Descalzi and the other executives at both Shell and Eni knew most of the $1.3 billion the companies paid to the Nigerian government to acquire the drilling rights would be distributed as bribes. Prosecutors say Goodluck Jonathan, the Nigerian president at the time of the deal, received part of the kickbacks. read more

Oil companies Shell and Eni to stand trial in Italy over Nigeria bribes

The two oil giants and key directors are to stand trial in what may be one of the biggest corruption cases in history. It relates to bribes paid in Nigeria for the purchase of an offshore oil block.

A judge in Milan has ordered Eni, Shell and current and former Eni directors to stand trial on accusations of corruption in the 2011 purchase of the OPL245 oil block in Nigeria estimated to hold 9 billion barrels of crude.

The CEO of Italian energy concern Eni since 2014 Claudio Descalzi, and his predecessor Paolo Scaroni are among 11 individuals indicted over the alleged bribes paid to secure the oil license for $1.3 billion (€1.09 billion).

The Italian company denied wrongdoing: “Eni’s Board of Directors has reaffirmed its confidence that the company was not involved in alleged corrupt activities in relation to the transaction,” according to a statement issued by the company on Wednesday. read more

Shell entangled in Nigerian bribery: Ex bosses at oil major set to stand trial in Italy

Oil majors Shell and Eni, and ex-bosses at both firms, are due to stand trial in Italy over alleged corruption over an £800million field in Nigeria.

Former Shell director Malcolm Brinded, 64, who was given a CBE in 2002 for services to the oil and gas industry, is among 15 accused, including Eni’s chief executive Claudio Descalzi.

Prosecutors say a large part of around £800million paid by Shell and Eni in 2011 was distributed as bribes.  read more

Eni, Shell To Stand Trial Over Alleged Corruption In Nigeria

By Tsvetana Paraskova – Dec 20, 2017, 11:30 AM CST

An Italian judge ordered on Wednesday oil majors Eni and Shell, as well as Eni’s CEO Claudio Descalzi and other former and present managers at Eni and Shell, to stand trialover alleged $1.3-billion corruption in an acquisition of an oil block in Nigeria back in 2011.

Giusy Barbara, a preliminary hearing judge at a Milan court, set the trial to begin on March 5, 2018, in Milan.

In February this year, Italian prosecutors asked for Eni, Shell, Descalzi, and ten others to stand trial over charges of alleged international corruption over alleged payment of US$1.3 billion in bribes to the former Nigerian government in 2011, for which Eni and Shell allegedly secured exclusive rights to develop the oil block OPL-245 offshore Nigeria. read more

%d bloggers like this: