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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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Shell confirms several countries investigating OPL 245 scandal

By John Donovan

Printed below are extracts from Shell’s Annual Report and Form 20-F 2016 relating to the OPL 245 corruption scandal.

Shell confirms that authorities in various countries are investigating its investment in Nigerian Oil Block OPL 245

Page 15

Authorities in various countries are investigating our investment in Nigerian oil block OPL 245 and the 2011 settlement of litigation pertaining to that block. On January 27, 2017, the Nigeria Federal High Court issued an Interim Order of Attachment for oil block OPL 245, pending the conclusion of the investigation. Shell has applied to discharge this order on constitutional and procedural grounds. On February 14, 2017, we received notice of the request of indictment from the Italian prosecution office in Milan with respect to this matter.

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NEW SHELL MI6 SPY POPS UP IN OPL 245 ARTICLE

A new name, Ian McCredie – another former MI6 spy who once worked for Shell – has popped up in an article about the Nigerian OPL 245 corruption scandal engulfing Shell and ENI. See: How Shell used former British spies to gather intelligence while negotiating purchase of OPL 245

The article says in relation to the Malabu oil scam, that Shell set up an intelligence network made up of some of Europe’s top spies. Former British Secret Intelligence Service (MI6) agents, including Guy Colegate and John Copleston, are identified as members of the Shell Intelligence Network Committee (SINC) “set up by Ian McCredie, a respected spy.”  The article goes on to say that there is no suggestion of any wrongdoing by him.

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MI6 Spy Network Inside Shell

By John Donovan

The name of the former head of Shell Global Security Ian McCredie was briefly mentioned earlier this week in a news article published in Nigeria. Readers can guess the subject of the article. 

McCredie is said to have set up a network of former MI6 spies inside Shell Global Security.

Those named so far as being members of SINC – Security Information Network Centre – are Guy Colegate, John Copleston, and Ian McCredie. All worked for Shell. All are former MI6 agents.

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SHOW TRIAL OF A SHELL NORWAY SAFETY REP

The current hardline regime at the Nyhamna gas plant seems determined to intimidate its employees. 150 of them were ordered to attend for this purpose so that they could witness the entire cringe-making spectacle.

By John Donovan

I briefly mentioned in an earlier article an unusual meeting held in a canteen located within the Shell Nyhamna Gas Plant in Norway. 

It seems to have been some kind of show trial with evidence only being presented by the prosecutors – belligerent senior Shell managers who had already reached a guillotine verdict on the accused party, Runar Kjørsvik.

The plant manager Trond Lofstad read from a pre-prepared indictment. A non-professional translation can be read here.

The current hardline regime at the gas plant seems determined to intimidate employees. 150 of them were ordered to attend for this purpose so that they could witness the entire cringe-making spectacle.

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Shell Prelude FLNG project relegated to backburner

By John Donovan

A Reuters article published today reports that a collapse in the benchmark price of gas has hit Shell’s “long-delayed $12.6 billion Prelude project off northwest Australia”.  Citing Shell Prelude, it says that FLNG projects are being relegated to the backburner.

Shell executive VP Steve Hill is quoted as admitting: “There was maybe an expectation when Prelude was being conceived that this was the future and every LNG project would look like that. I think that got kind of superseded by the U.S. being the primary source of new LNG supply ..”

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OPL 245 scandal and Shell’s former MI6 spies

By John Donovan

The Observer has published a revealing article today about Shell’s involvement in the OPL 245 Nigerian corruption scandal and its use of hired former MI6 officers in connection with the transaction. 

Reference is made to the raids made by Italian investigators on Shell’s headquarters in The Hague and Eni offices in Italy, which “yielded tens of thousands of documents and emails.”

The Observer article focusses on a $800m financial transaction involved in the $1.3bn overall OPL245 deal. It was negotiated in part by two ex-MI6 officers hired by Shell as “business and investment advisers”. Namely, Guy Colegate and John Copleston.

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Informers regime at Shell Nyhamna Gas Plant

In my recent article “Climate of fear at Shell Nyhamna Gas Plant in Norway” I made reference to a 144-page survey report commissioned by the SAFE union.

According to the survey report, Shell has introduced a company policy of encouraging a culture of informants. This policy is in force at Shell Nyhamna Gas Plant. In fact, Shell employees of “most of the group” are required to observe and inform on one another. Seems incredible, but apparently it is true. A witch hunt culture totally at odds with Shell’s claimed ethical code. 

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Kiobel vs Shell discovery doc battle continues in US Courts

Ms. Kiobel has been trying for years to obtain justice for the murder of her husband and other abuses committed against her. That justice was denied to her in the United States, not on the merits, but due to an unforeseen limitation on the reach of the Alien Tort Statute that no lower court had previously imposed.

By John Donovan

The headline above is not strictly correct.

The current battle in the US courts IS between Esther Kiobel and Cravath, Swaine & Moore LLP. However, the real battle is between Esther Kiobel and Shell – a long term client of Cravath.

Cravath holds over 100,000 Shell internal documents assembled by Shell for litigation brought by Esther Kiobel many years ago in the US courts. The following extract from a submission made by her lawyers on 23 February 2017 explains what happened:

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LEAKED EMAILS SHOW SHELL AND ENI CONSPIRING TO HIDE PAYMENT IN CORRUPT OPL 245 DEAL


Global Witness has published leaked emails between Eni and Shell officials conspiring to arrange the OPL 245 deal

Italian prosecutors are seeking separate charges against four senior Shell executives including current Shell Foundation Chairman Malcolm Brinded, who was head of Global Exploration and Production at the time of deal.

3rd March 2017

Oil giants Shell and Eni face historic criminal charges over a tainted $1.1 billion deal struck for Nigerian oil block OPL 245 in 2011, Global Witness reported today.  According to charges filed by Nigerian law enforcement agency, the Economic and Financial Crimes Commission (EFCC) at the High Court in Nigeria’s capital, Abuja, Eni, Eni’s Nigerian subsidiary Nigerian Agip Exploration Limited and Shell’s Nigerian subsidiary Shell Nigeria Exploration Production Company Limited are accused of conspiring to commit “Official Corruption contrary to Section 9 of the Corrupt Practices and Other Related Offences Act, 2000”. Former Nigerian Justice Minister Mohammed Adoke and former Oil Minister Dan Etete were also charged with official corruption for recieving over $800m from Shell and Eni. This is the first time that the two oil companies have been charged in Nigeria for their role in the deal.

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Financial tremors for Shell/Exxon (NAM) triggered by Dutch earthquakes

From a regular contributor

NAM has been found responsible for immaterial damage to the inhabitants of Groningen in court 2 days ago. NAM is appealing. Individuals can now claim damages to their health, due to stress caused by the earthquakes. I don’t know the exact English translation of this jargon but you get the point, NAM not only has to pay for the physical damage but also for spoiling the lives of people. 

Be prepared for many years of legal battles. The damages are very low compared to the USA but there are many people who can claim. Potential costs can be very high. Obviously, it is the shysters who will get the bulk of the money! And all the time there is pressure to reduce output from the Groningen field.

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Shell trying to ignore media firestorm in Norway

Another major article (above) was published in Norway yesterday about the deteriorating relationship between employees and management at the Nyhamna Gas Plant in Norway. The serious problems have been confirmed by independent research carried out by academics commissioned by the SAFE union.

Shell Upstream director Rich Denny (right) was at the plant yesterday desperate to dampen down the flames ignited by the persecution and dismissal of Runar Kjørsvik, the former Main Safety Delegate of the SAFE union. Like an Ostrich, Rich apparently hopes that if he sticks his head in the snow for long enough, the allegations of bullying and spying on employees will go away. Not actually a good idea to leave your corporate backside exposed. Who knows what some disgruntled current or former employee might do!

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