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Posts under ‘Environment’

EARTHQUAKE WARNING TO SHELL SHAREHOLDERS

The following information is taken directly from Shell’s Annual Report for the year ended December 31, 2016

RISK FACTORS

From page 14

Production from the Groningen field in the Netherlands continues to cause earthquakes that affect local communities.
Shell and ExxonMobil are 50:50 shareholders in Nederlandse Aardolie Maatschappij B.V. (NAM), which Shell operates. An important part of NAM’s gas production comes from the onshore Groningen gas eld, in which EBN, a Dutch government entity, has a 40% interest and NAM a 60% interest. Production from the Groningen eld has caused earthquakes in the past which are expected to continue. The earthquakes have caused damage to houses and other structures in the region and complaints from the local community. Additional earthquakes could have a material adverse effect on our earnings, cash ows and nancial condition. Since 2013, the Minister of Economic Affairs (Minister) has imposed a cap on production from the Groningen eld in order to reduce the impact of the earthquakes on the neighbouring communities. In September 2016, the Minister approved the production of 24 billion cubic metres per annum from the Groningen eld until October 1, 2021. At the request of the Dutch parliament, the Minister will review annually whether new circumstances have arisen that call for a further reduction of the production. The rst such annual review is expected by October 1, 2017.

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SHELL REPUTATIONAL RISKS

SHELL REPUTATIONAL RISKS

How fortunate that Shell has not got itself mired in any murky activity. e.g. paying hundreds of millions to a Nigerian crook, putting profits before safety with induced earthquakes in The Netherlands, terrorising safety staff in Norway, spying globally on its own employees, or engaging in widespread bribery and corruption in Ireland. None of that could possibly happen. Same applies to the oil and gas reserves fraud, which Donny Ching, to his credit, has not forgotten

The following information is taken directly from Shell’s Annual Report for the year ended December 31, 2016

From page 14

An erosion of our business reputation could have a material adverse effect on our brand, our ability to secure new resources and our licence to operate.

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CURRENT LITIGATION INVOLVING SHELL

The following information is taken directly from Shell’s Annual Report for the year ended December 31, 2016

PESTICIDE LITIGATION

Shell Oil Company (SOC), along with other agricultural chemical pesticide manufacturers and distributors, has been sued by public and quasi-public water purveyors alleging responsibility for groundwater contamination caused by applications of chemical pesticides. Most of these law suits assert various theories of strict liability and seek to recover actual damages, including water well treatment and remediation costs. All of the suits assert claims for punitive damages. There are approximately 30 such cases pending. Based on the claims asserted and SOC’s track record with regard to amounts paid to resolve varying claims, management does not expect that the outcome of these suits pending at December 31, 2016, will have a material impact on Shell, although no assurance can be provided.

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Shell shale oil gamble?

Shell recently announced a $300 million investment in a shale oil operation in Argentina: Shell opens treatment plant in Argentina shale play. Shell is developing controversial tight and shale oil and gas operations globally despite the significant financial and environmental considerations involved. Is this wise, or a sign of desperation? Shell is already on shaky ground with the NAM/Groningen project. There is a nice summary below of what we in the oilpatch already knew for years. Production from fracced wells (in a shale like in the US) declines very fast. A well in the Middle East in a high permeable reservoir typically declines 3-10% per year.

Shale oil declines 35-50% per year. You need to keep drilling faster and faster until you go bust…..

And when the costs are high and returns are marginal, corners will be cut and other problems start. Polluted aquifers, operators going bust so who will clean up the mess?

US shale oil will keep prices low – will it ??

Give this 5 mins – it’s fun.

Excellent website link below, with great interactive charts on how the shale wells in US are doing.

These were supposed to keep the oil price low remember?

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Selection of current Shell new articles

Nigeria Seizes Foreign Vessel for Alleged Theft of Shell Crude: Bloomberg: 27 April 2017

Nigeria detained a vessel with crew members from countries including Pakistan, Indonesia and Ukraine for alleged theft of crude from a facility owned by Royal Dutch Shell Plc, the navy said.

Bar, business groups back Cravath on fighting disclosure of Shell documents: Reuters 27 April 2017

The New York City Bar Association has joined the U.S. Chamber of Commerce in backing law firm Cravath Swaine & Moore in its appeal of an order to turn over documents belonging to client Royal Dutch Shell plc in a possible overseas lawsuit accusing the oil giant of facilitating human rights violations.

Shell Signs Oil Exploration Cooperation Deal In Oman: OilPrice.com: 26 April 2017

Royal Dutch Shell and Oman Oil Company Exploration & Production (OOCEP) have signed a Heads of Agreement for cooperation in resource exploration in an oil and gas block in Oman, the Omani company said on Twitter on Wednesday.

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The business ethics of Shell and Malcolm Brinded

By John Donovan

It is timely, given current OPL 245 events involving the integrity of Malcolm Brinded and Shell, to remind ourselves of his 6-page letter to Vince Cable a few years ago in his then capacity as UK Secretary of State for Business, describing Cable as the “contact minister for Shell”. Even if just an attempt to be jocular, the description was inappropriate. Since Vince Cable was once Shell’s Chief Economist, an approach on that basis, attempting to exploit his past relationship with Shell was entirely improper and created a clear conflict of interest on the part of the minister. Brinded was trying to persuade Cable to support Shell’s views in relation to the European Fuel Quality Directive. It is obvious from the content of the first paragraph that Shell was already exploiting to the hilt the fact that Cable was a past Shell man. The oil giant was trying to improperly influence/control the UK government just as it was doing with the corrupt Nigerian government.  

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Potent carcinogen contaminated drinking water used by millions, says report

Abigail Elise: National Curator. Apr 20, 2017

WASHINGTON — Shell Oil Co. and Dow Chemical hid a cancer-causing chemical in two commonly-used pesticides that contaminated the drinking water of millions of people in the state of California, according to lawsuits detailed in a report from the Environmental Working Group earlier this month. TCP, a poisonous insecticide gas, was used for decades in the pesticide Telone, made by Dow, and D-D, made by Shell.

FULL ARTICLE

Court orders Shell-Exxon criminal probe over Dutch gas quakes

How Shell fell out with former FBI Special Agent Crockett Oaks III

Later today, subject to any legal intervention by Shell, we will publish the story of former FBI Special Agent Crockett Oaks III.  

He joined Shell in 2003 and until recently was paid over $300,000 per year as head of Shell Security in the Americas.

Oaks was at one time involved in Shell’s murky Nigerian operations. You may have heard about them. 

He was wrongfully dismissed on an unrelated matter. He refused to countenance illegal discrimination.

Shell reached a timely agreement with him this week in the US courts. I am sure he is no longer free to comment on Nigerian matters. I hope he has ended up with pots of money. 

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SHELL NEWS UPDATE FRIDAY 31 MARCH 2017

Shell shuts Bonny Light oil export line to remove theft points: Reuters/Daily Mail

LONDON, March 31 (Reuters) – The Nigerian subsidiary of Royal Dutch Shell Plc said it had shut down the Nembe Creek Trunk Line, which exports Bonny Light crude oil, in order to remove theft points.

Shell plans to double Hazira LNG plant capacity – India head: Reuters/Daily Mail

March 31 (Reuters) – Royal Dutch Shell Plc plans to double the capacity of its liquefied natural gas import facility at Hazira on India’s west coast to 10 million tonnes a year, a top company executive said on Friday.

Shell Opens New Technology Hub in India: RIGZONE

Royal Dutch Shell plc has opened a new major technology hub in Bangalore, India, which can house up to 1,500 workers.

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Latest Shell News

Shell’s top oil trader defends North Sea Brent activity: Financial Times

Royal Dutch Shell’s top oil trader has launched a staunch defence against accusations that the company’s activity in the North Sea crude market had skewed the benchmark that underpins global oil prices. Shell is alleged to have traded aggressively in the region last year, contributing to heavy losses among rivals…

Shell Throws The Blame To Residents on Slow Cleanup of Oil Spills In Nigeria: The Science Times

EXTRACT: Oil and petroleum giant Shell blamed the Nigerian residents in the Delta community for its slow response in cleaning up the two oil spill incidents in 2008. Amidst almost a decade-long effort, Shell wasn’t able to fully contain the spill. However, there is a possibility that the clean-up might start next month.

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Shell News Stories Monday 27 March 2017

‘Biggest Oil Discovery In UK Waters This Century’: ClimateChangeDispatch

Hurricane Energy has made a further oil discovery west of the Shetland Islands days after Royal Dutch Shell and BP won exploration licences in an area the UK is counting on to breathe new life into its struggling oil and gas industry.

Shell and Anadarko mull clean break from Permian venture -executive: Reuters

LONDON/HOUSTON, March 27 (Reuters) – Royal Dutch Shell Plc and Anadarko Petroleum Corp may let a 10-year joint venture in the oil-rich Permian Basin of Texas expire and split their properties, hoping to speed up development, according to a senior Shell executive.

Why Are Shell And Toyota Backing Hydrogen Fuel Cell Vehicles?: OilPrice.com

Royal Dutch Shell sees that facing a lower-carbon transport future will need a “mosaic of fuels and engines,” but the energy conglomerate is leaning toward hydrogen as the alternative fuel of choice.

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