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Posts under ‘Jeroen van der Veer’

Musings about the OPL 245 Shell/ENI corruption scandal and the sinking confidence in Prelude

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I would have thought that Simon Henry’s position as CFO should now be untenable, in view of the apparent lack of effective financial governance in Nigeria while he was CFO. 

By John Donovan

A large number of press articles have appeared recently mentioning Ben van Beurden. 

Since these articles are presumably fed to the press by Shell’s PR team, and Shell is not a one-man company, I checked to see whether other Shell directors have appeared recently in press releases.

The results are somewhat curious. For example, searching for Matthias Bichsel on Google News shows that articles were published about him at least weekly until October last year, but the articles then stopped abruptly. References to Simon Henry seem to have dried up a few weeks ago – until mid-March there were articles on Henry on an almost daily basis, but recently there has been nothing. Harry Brekelmans seems to have had a low profile since his appointment, so it is harder to see whether any change has occurred. Andy Brown has almost as many press articles as Ben van Beurden. 

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Ex-Shell CEO joins Statoil’s board

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Van der Veer was the chief executive officer at Royal Dutch Shell from 2004-2009, when he retired. Van der Veer then continued as a non-executive director on the board of Shell until 2013. He started to work for Shell in 1971 and has experience within all sectors of the business. In addition, Van der Veer is the chair of the supervisory boards of ING Bank and Royal Philips Electronics and member of the supervisory board of Boskalis Westminster Groep, and has significant competence within corporate governance.

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In defence of Shell CEO Ben van Beurden

By a regular contributor

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Only one member of the EC is directly involved in North American activities, Marvin Odum. 

Perhaps worth noting is that investment decisions on the scale of the recent Shell write-offs would have required approval by the entire EC in the Hague long before BvB was around. Few of the EC members who made those decisions are still present. 

It seems strange that so many of the huge projects which have been abandoned are in North America, and serious questions need to be asked about why approval was given by the EC for these huge projects. Only one member of the EC is directly involved in North American activities, Marvin Odum. 

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The credibility of Royal Dutch Shell oil demand forecasts

By John Donovan

Forecasts of future oil demand and oil prices made by Royal Dutch Shell CEO Ben van Beurden have been widely reported.

See syndicated Reuters article.

He is not exactly a disinterested independent observer, as his personal income and the well-being and profitability of the oil company he leads, depends on these issues.

Some might consider his forecasts to be wishful thinking.

It is an appropriate moment to look back on directly related forecasts made 7 years ago by one of his predecessors.

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How could Shell have got it so wrong on oil? 

Screen Shot 2014-10-30 at 09.22.43In October of this year, just 9 weeks ago, when oil was at over $90 a barrel, Shell CEO Ben van Beurden expressed his confidence that oil would return to what he described as “very robust” pricing. He said that the oil price had been remarkably stable and that in the short term, Shell has a trading strategy to inoculate itself from the swings and “maybe even make money out of it.”

In view of the immediate subsequent slump in the oil price and the anticipated disastrous impact on Shell, he may now wish he had been less confident about the prospect of actually making money out of a downward swing. 

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Shell’s Unloved Business Principles

Screen Shot 2014-12-05 at 14.24.25By John Donovan

I have published a number of articles highlighting the fact that Shell appears to have no regard at all for its own claimed business principles displayed on the Internet, which have not been signed/endorsed by the current CEO Ben van Beurden. 

Shell’s disdain for its governing constitution, Shell Business Principles

CEO Ben van Beurden too honest to sign Shell’s Business Principles?

Someone has correctly pointed out that if you visit shell.com on the shell global  webpage, it is possible to download the Shell General Business Principles “in your own language.” If you select “English,”  the version that appears was signed by Jeroen van der Veer, the CEO in 2005, now long retired from Royal Dutch Shell Plc. 

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Shell’s disdain for its governing constitution, Shell Business Principles

Screen Shot 2014-12-02 at 17.24.15By John Donovan

A few days ago I published an article pointing out that the Shell Business Principles document, proclaiming Shell’s core values and setting out the ethical platform on which Royal Dutch Shell supposedly operates, is conspicuously out of date.

The version published on shell.com still bears the name of Peter Voser who resigned as Shell CEO in controversial circumstances a year ago.

The document is accessible in multiple languages on shell.com. Those in Dutch, Chinese, German, Italian, Norwegian, Polish, Portuguese, Russian, Spanish, Thai, Turkish and Vietnamese – are all signed by Peter Voser.

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Shell CEO dubious prediction on oil prices

Today we have another forecast from a Chief Executive of Royal Dutch Shell Plc, no doubt based on an assessment by the crystal ball gazers at Shell, the famed Scenarios team. Is it a case of wishful thinking on the part of Shell? Can we have faith in the prediction made by the current CEO?

By John Donovan

Today we have another forecast from a Chief Executive of Royal Dutch Shell Plc, no doubt based on an assessment by the crystal ball gazers at Shell, the famed Scenarios team. 

According to Catherine Boyle of CNBC, Ben van Beurden, Shell’s current CEO is confident that oil will return to “very robust” pricing in the long-term.

This is despite the fact that as a result of increased production by Saudi Arabia and the USA, Brent crude dropped to less than $93 a barrel last week, the lowest price for two years. 

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Royal Dutch Shell News Roundup 25 August 2014

RUSSIA

Jeroen van der Veer, the former Royal Dutch Shell CEO who evaded responsibility for his role in the cover-up of the Shell reserves fraud, claims that the sanctions against Russia are not working and are counter-productive. This analysis comes from the man who badly misjudged the Putin regime in 2006 and as a result, ended up meekly surrendering Shell’s majority stake in the Sakhalin 2 project. 

UK

The British government has just introduced a rule requiring oil, gas and mining companies registered in the UK to disclose all payments made to the governments of countries in which they operate. The new rule, which comes into force in 2015, is designed to result in greater transparency, something alien to oil companies such as Shell. Problems may arise in relation to Nigeria where Shell has a decades long history of corruption involving a succession of odious regimes.

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Oil majors BP and Shell may be ready for more mergers

Some of Shell’s big shareholders are said to be frustrated by the company’s continued spending on expensive far-flung projects that fail to yield healthy returns. Alongside its profit warning at the start of this year, Shell announced that it was halting a controversial exploration programme off the coast of Alaska because the costs had far outweighed the results. Some $4.5bn had been ploughed into exploring in the region since 2005. Rumours continue to swirl that an activist investor is circling Shell with a view to taking a stake and forcing it adopt a more radical strategy.

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OBJECTION TO MR. OSAGIE OKUNBOR AS MD/COUNTRY CHAIR OF SHELL (SPDC) NIGERIA

We consider it a very unwise move by Shell that Mr. Osagie Okunbor, who was said to be the former Vice President (VP) Human Resources, Shell (SPDC), is currently being considered/prepared to assume the position of the Managing Director (MD) and Country Chair of Shell (SPDC) Nigeria. We strongly advise that relevant authorities of Royal Dutch Shell and Shell (SPDC) Nigeria should give this issue raised the needed attention. Mr. Osagie Okunbor is said to be on cross-posting to The Hague, in other for him to be ‘groomed’ to occupy the said exalted position and take over from Mr. Mutiu Sunmonu, who will soon go on retirement.

Insiders Perspective on Shell VP Arjen Dorland

Royal Dutch Shell VP Arjen Dorland

Royal Dutch Shell VP Arjen Dorland

One of few respected IT-illuminati, shortly before he retired, suggested that Dorland was a bit of an animal if not held on a tight leash…

From a Shell Source

Amusing to see Arjen Dorland extolling the virtues of technological enablement of exploration within Shell especially given his limited engagement with and knowledge of this part of the business. One suggests that there is an ulterior motive here and one worth going through in detail. It’s been noted on here previously how Arjen Dorland first rose without trace at the start of the millennium in the battered Shell IT organisation, having originally been identified as a JG 1-2 maximum level employee (the Shell system, as we all know, sets CEP levels for all its staff and this system is rigorously enforced by the myriad HR managers that Shell homes and encourages). He remains to this day intensely bitter about that initial positioning and it explains his character and motivation to a ‘T’.

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Bowing to Putin

Shell's Ben van Beurden bows to Putin on Good Friday, 18 April 2014

Shell’s Ben van Beurden bows to Putin on Good Friday, 18 April 2014

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By John Donovan

I have checked and thus far have been unable to find any photographs of Rex Tillerson (ExxonMobil) or Robert Dudley (BP) bowing in the slightest to Putin. It seems that only Royal Dutch Shell executives, Jeroen van der Veer, Peter Voser, and Ben van Beurden, have been prepared to stoop that low.

Royal Dutch Shell outmaneuvered, outsmarted, bullied and humiliated

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Vladimir Putin: The macho man former spy who has repeatedly outmaneuvered, outsmarted, bullied and humiliated Royal Dutch Shell, while simultaneously running rings round other submissive global players. Jeroen van de Veer prostrated himself before Vladimir Putin in the Sakhalin2 surrender and Ben van Beurden repeated the act of subservience in a cringe-making ill-timed audience with Putin on Good Friday. The king of corruption and master of polonium fueled assassination is treating them all with deserved contempt.

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Ben van Beurden dragged into Irish Cops Bribery Scandal

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By John Donovan

Printed below are self-explanatory extracts from an email I sent on 16 April to Johan Groenewald, the senior officer at the Garda Ombudsman Commission investigating allegations made by OSSL about Shell corrupting the Irish police force.

I am arranging  for OSSL directors to attend the Royal Dutch Shell Plc Annual General Meeting in May, as they did last year (as reported in The Observer).

Extract

The Donovans had secured places for Kane and Rooney at Shell’s annual meeting last month, to raise their grievances. Cornered, the company’s CEO, Peter Voser, suddenly ordered a further inquiry, a move echoed by the Garda.

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Shell risked offshore workers lives to dodge Alaskan tax bill

Screen Shot 2013-07-15 at 07.03.50Despite all promises to the contrary, Shell is still putting monetary considerations before safety. Just read some of the recent articles about Shell’s reckless conduct in offshore Alaska. It put the lives of offshore workers and the environment at risk to avoid a potential multimillion dollar tax bill. Personally, I do not believe enough attention has been drawn to the ethical issue of Shell deliberately putting peoples lives at risk in a calculated gamble.

Royal Dutch Shell Safety Last, not First

By John Donovan

Despite all promises to the contrary, Shell is still putting monetary considerations before safety.

Just read some of the recent articles about Shell’s reckless conduct in offshore Alaska.

It put the lives of offshore workers and the environment at risk to avoid a potential multimillion dollar tax bill.

This extract from a US News & World Report article published yesterday is typical of the many comments published elsewhere:

Notably, in September 2012, a Royal Dutch Shell drilling rig ran aground in Alaska as workers attempted to tow it beyond the state’s waters. A Coast Guard report released Friday found that the Anglo-Dutch oil company decided to move the rig – and insisted on doing so through dangerous stormy weather – to avoid paying new Alaskan taxes. The report also detailed myriad safety issues.

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Little known key role of Michiel Brandjes in Shell reserves scandal

Screen Shot 2014-03-09 at 23.42.12However, unbeknown to Van de Vijver, Michiel Brandjes (right), who was alarmed by the findings of the report, sent a copy to a New York law firm Cravath, Swaine & Moore. This meant that events were no longer in the control of Shell. Instead, Shell’s most sensitive issue since its close association with Adolf Hitler and the Nazis several decades ago, had been disclosed to an outside firm, that had to consider and protect its own reputation.

By John Donovan

In May 2003, Frank Coopman, the then Chief Financial Officer of Shell EP, delivered bad news about Shell’s operations in Nigeria to the Chief Executive of Shell EP, Walter van de Vijver.

Van de Vijver sent Coopman back to Nigeria to investigate further.

The subsequent findings, set out in a status report, were even more devastating, revealing an overstatement of 1.1 billion boe.

Van de Vijver had instructed a team led by Coopman to work on the reserves issues.

The team included a top Shell lawyer, Michiel Brandjes, the then Company Secretary of Royal Dutch Petroleum.

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How much reliance can be placed on Royal Dutch Shell predictions?

Screen Shot 2014-02-13 at 17.22.27How much reliance can be placed on predictions emerging from Shell scenarios team? Very little if past accuracy of Shell predictions is any guide. Six years ago the then head of Royal Dutch Shell, the clueless Jeroen van der Veer predicted that the world would begin to run out of oil within 7 years – that’s next year. Since then, the whole outlook for oil and gas reserves has changed dramatically as a result of fracking and the US will surpass Saudi as the worlds top oil producer by 2016.

By John Donovan

Bloomberg news has published an article today under the headline Shell Sees Stable Oil Price for 20 Years With Volatility Bursts

Extract

In Shell’s “tighter” supply scenarios, crude prices could steadily increase over the 20 next years, while still going through periods of volatility that could see Brent falling to $70 a barrel, Bentham said.

How much reliance can be placed on predictions emerging from Shell scenarios team?

Very little if past accuracy of Shell predictions is any guide.

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Ben van Beurden: Surely Shell could have chosen a leader untainted by scandal?

Screen Shot 2013-10-16 at 15.23.29Ben van Beurden was private assistant and adviser to Sir Philip Watts during the two years prior to the shock announcement of the reserves scandal in January 2004, which resulted in a firestorm of devastating news coverage that still reverberates today, 10 years later. This was during the period when false information was routinely given to investors about Shell’s claimed oil and gas reserves. As private assistant and adviser to Watts, Ben van Beurden must have known what was going on and must have been complicit in the cover-up? Is it impossible to find suitable Shell leadership candidates untainted by failure and scandal?

By John Donovan

The Observer newspaper has today made the valid point that “Van Beurden knows what failure looks like, as he was a personal assistant to former chairman Sir Philip Watts when Watts was axed over the reserves scandal of 2004.”

This startling fact has rightly been highlighted in a number of articles published since the appointment of Ben van Beurden as the new CEO of Royal Dutch Shell Plc was first announced.

Ben van Beurden was private assistant and adviser to Sir Philip Watts during the two years prior to the shock announcement of the reserves scandal in January 2004, which resulted in a firestorm of devastating news coverage that still reverberates today, 10 years later.

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Royal Dutch Shell leadership: Bring back Sir Henri Deterding

Screen Shot 2014-02-01 at 10.22.50If only it was possible to resurrect Sir Henri Deterding at his best, the extraordinary Dutchman who built the Royal Dutch Shell Group. In his first couple of decades at Shell he was a brilliant decisive leader brimming with ambition, ideas and incredible determination. He would have acted to exploit BP’s self-inflicted misfortunes, whereas Van der Veer and Voser let the opportunity pass and instead took Shell down a disastrous path placing all bets on so-called elephant projects that turned out to be white elephants.

By John Donovan

In my view, the last Shell executive director/Chairman who had any gumption and plain commonsense was Sir John Jennings.

Since his time, long term Shell shareholders have witnessed a parade of hopelessly incompetent Royal Dutch Shell fat cat bosses.

The roll call of failed leaders includes Sir Philip Watts, Jeroen van der Veer and Peter Voser.

All three mired by disappointment and scandal.

Jorma Ollila has been non-executive Chairman of Royal Dutch Shell Plc for several years spanning the tenures of the last two failed CEO’s and has proven equally uninspiring and flawed.

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Energy giants battle to pump profits

Screen Shot 2013-11-13 at 07.38.22At 55, Van Beurden, who replaced Peter Voser earlier this month, is a 30-year veteran at Shell where his career has mainly been focused on managing downstream businesses such as refining and chemicals. This week, as he announces full-year earnings, City analysts expect him to unveil details of a potential $15bn to $30bn (£9.1bn to £18.1bn) garage sale… Shell has a reputation for gluttony when it comes to tackling giant energy projects, betting billions of dollars on strategic investments aimed at building reserves and capturing future demand decades in advance. Those days may be over.

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By 8:00PM GMT 25 Jan 2014

On the face of it, Royal Dutch Shell’s new chief executive, Ben van Beurden, and Bob Dudley, his counterpart at , are a world apart.

At 55, Van Beurden, who replaced Peter Voser earlier this month, is a 30-year veteran at Shell where his career has mainly been focused on managing downstream businesses such as refining and chemicals.

This week, as he announces full-year earnings, City analysts expect him to unveil details of a potential $15bn to $30bn (£9.1bn to £18.1bn) garage sale, signalling a new era of capital discipline and streamlining at the Anglo-Dutch supermajor.

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CFO Simon Henry: Just how many lives has this Shell fat cat got?

Simon Henry was CFO when the ship was set on its disastrous course of over-promise and under-delivery, beset by project delays and cost overruns, resulting in the recent profits warning and the dramatic advice just issued by Zacks Investment Research that Royal Dutch Shell Plc is “a risky bet that ordinary investors should exit.” He has had a hand on the helm throughout the long voyage, during the Sakhalin2 debacle, the Corrib Gas Corruption scandal and more recently, Shell’s Arctic ambitions hitting the rocks. As I have previously pointed out, he also had a starring role in the reserves scandal and managed to evade the flak on that occasion as well. Just how many lives has this Shell fat cat got?

By John Donovan

The role of RDS Chief Financial Officer, Simon Henry, in the instability that has overtaken Shell, thus far seems to have largely escaped scrutiny and blame?

He is the most senior remaining Royal Dutch Shell executive spanning the tenure of the last three top executives at Shell, Sir Philip Watts (dishonest bullying egomaniac), Jeroen van der Veer (dishonest and out of his depth) and Peter Voser (incompetent and ill-advised).

Simon Henry was CFO when the ship was set on its disastrous course of over-promise and under-delivery, bedeviled by project delays and cost overruns, resulting in the recent profits warning and the dramatic advice just issued by Zacks Investment Research that Royal Dutch Shell Plc is “a risky bet that ordinary investors should exit.”

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Shell sells £700m of natural gas assets to Kuwait

Screen Shot 2013-10-01 at 07.56.54Chief executive says disposal of stakes in two Australian businesses, which follows shock profit warning last week, is evidence of ‘hard choices’ being taken

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By 9:24AM GMT 20 Jan 2014

Royal Dutch Shell has sold its stakes in two Australian natural gas businesses to Kuwait’s state energy giant.

The company announced on Monday the $1.135bn (£691m) disposal of its 8pc interest in the Wheatstone-Iago joint venture and 6.4pc in the Wheatstone liquefied natural gas (LNG) project in Western Australia to the Kuwait Foreign Petroleum Exploration Company (KUFPEC), a subsidiary of the Gulf state’s national oil company.

Ben van Beurden, who recently took over from Peter Voser as chief executive, said Shell was “refocusing our investment to where we can add the most value with Shell’s capital and technology”.

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The destabilisation of Royal Dutch Shell gathers pace

Screen Shot 2014-01-20 at 15.21.18While speculation still swirls about the unexpected early exit by Peter Voser and the abrupt departure by Peter Rees, we can now add the name of Andy Brown to the mystery about the seismic developments and uncertainty that has engulfed Royal Dutch Shell Plc. 

By John Donovan 

Three weeks ago I published an article under the headline Voser wisely abandons an unstable ship.

I listed some of the factors that led me to make that assessment.

Since then the destabilisation of Royal Dutch Shell has gathered pace with the profits warning that shocked the markets on Friday. 

Today, Shell made an announcement about Andy Brown, the third exit (in his case extended medical leave after heart surgery) from the committee of executive directors in as many weeks.

While speculation still swirls about the unexpected early exit by Peter Voser and the abrupt departure by Peter Rees, we can now add the name of Andy Brown to the mystery about the seismic developments and uncertainty that has engulfed Royal Dutch Shell Plc. 

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Wake up, Shell, the days of big spending are over

Screen Shot 2014-01-03 at 14.32.05“On Friday the chickens came home to roost, with Ben van Beurden, who took over from Peter Voser last year, having to announce a painful profits warning just 11 days before the year-end results.” The article says that Shell shareholders are fractious, and if Ben van Beurden ignores their concerns, Royal Dutch Shell Plc will be a prime target for activist investors. I have news for The Sunday Times. That is already the case. No wonder Mr Voser was content to fly off early.As for BvB, it must be the shortest honeymoon in corporate history for the CEO of a multinational. The phrase “poisoned chalice’ comes to mind.

By John Donovan

Dominic O’Connell, the Business Editor of The Sunday Times has today sent a strong message to Royal Dutch Shell in his Agenda column under the headline: “Wake up, Shell, the days of big spending are over.”

The article says that although major shareholders have had a soft spot for Shell, even through the reserves scandal, “that love affair is on the wane.”

He says Shell seems to have missed the change in policy by other oil and gas producers in response to shareholder demands, who have stopped squandering cash on expensive new projects and instead are returning it to the owners.

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In defence of Ben van Beurden

Screen Shot 2013-10-01 at 07.56.54An article published today by The Wall Street Journal – “Shell, Bruised by Big Bets, Warns of Profit Miss” – makes the case from the standpoint of Ben van Beurden, why he should not be blamed for the profits warning announced yesterday by Royal Dutch Shell Plc that shocked the markets.

By John Donovan

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An article published today by The Wall Street Journal – Shell, Bruised by Big Bets, Warns of Profit Miss – makes the case  from the standpoint of Ben van Beurden, why he should not be blamed for the profits warning announced yesterday by Royal Dutch Shell Plc that shocked the markets.

Apparently he warned that Shell should be cautious in relation to multibillion dollar elephant projects, which were pushed by Jeroen van der Veer, the first Chief Executive of Royal Dutch Shell Plc. BvB claims that he had no say over investments in EP projects and “questioned if it made sense for Shell to bet so heavily on ‘big-ticket’ projects”.

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Royal Dutch Shell Profits Slump Debacle

Screen Shot 2013-10-01 at 07.56.54Based on our insider information, we, and only we, raised the question of whether Royal Dutch Shell CEO Peter Voser jumped ship or was pushed. I think we now have the answer that explains his unexpected early retirement under the cloak of a change of lifestyle. How do you know that Shell is run by clowns? The continued existence of this website over the last decade proves that this is the case. One miscalculation after the other. Just over 2 months ago, we raised the profits warning issue:Why no profits warning from Shell?

By John Donovan

Just over 2 months ago, we raised the profits warning issue: “Why no profits warning from Shell?

I would now like to put a simple question to our visitors.

What news source has provided the most accurate assessment about Royal Dutch Shell Plc and the senior management?

Not the BBC, The Wall Street Journal, the Financial Times, The Guardian, The Telegraph, The Motley Fool or any other source. Certainly not shell.com.

The most accurate assessment and information has consistently emanated from this website.

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10th ANNIVERSARY OF ROYAL DUTCH SHELL RESERVES SCANDAL

Since Royal Dutch Shell has apparently forgotten to mark the tenth anniversary of news breaking on 10 January 2004, that Shell had cooked its books by wildly inflating its claimed oil and gas reserves, it seems appropriate for me to do so on Shell’s behalf. The then Shell Group chairman, Sir Philip Watts was forced to resign, but to buy his silence was handsomely  rewarded for screwing Shell shareholders, receiving a financial package reportedly worth $18.5 million. He later repented his sins and became a priest. His chief of Exploration & Production, Walter van de Vijver was knifed in the back by his director colleagues, including John Hofmiester and Jeroen van der Veer, in what can fairly be described as a sadistic sacking. Plenty of scope and evidence if Martin Scorsese is planning a follow-up movie to The Wolf of Wall Street featuring another huge scam involving outlandish but real events and overpaid, ethically challenged individuals, driven by ego and unbridled greed.

By John Donovan

Screen Shot 2014-01-15 at 08.41.45Since Royal Dutch Shell has apparently forgotten to mark the tenth anniversary of news breaking on 10 January 2004, that Shell had cooked its books by wildly inflating its claimed oil and gas reserves, it seems appropriate for me to do so on Shell’s behalf.

The then Shell Group chairman, Sir Philip Watts was forced to resign, but to buy his silence was handsomely  rewarded for screwing Shell shareholders, receiving a financial package reportedly worth $18.5 million. He later repented his sins and became a priest. His chief of Exploration & Production, Walter van de Vijver was knifed in the back by his director colleagues, including John Hofmiester and Jeroen van der Veer, in what can fairly be described as a sadistic sacking.

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Shell CEO Peter Voser: Did he jump or was he pushed?

Screen Shot 2014-01-02 at 11.51.16Why would the issue of payment for loss of office even arise? Perhaps I am wrong but I am left with the impression that his early departure was by mutual consent and on the basis of no compensation for loss of office? In other words the board wanted him to leave early and he agreed?

By John Donovan

I was intrigued by the inclusion of the following statement by Shell in the Remuneration Disclosure for Peter Voser published earlier today:

Payment for loss of office
No payment for loss of office is made or will be made to Peter Voser.”

Consequently I sent the following email to a source with Shell insider knowledge:

Wording seems odd to me?

Why would the issue of payment for loss of office even arise?

Perhaps I am wrong but I am left with the impression that his early departure was by mutual consent and on the basis of no compensation for loss of office?

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Shell’s flawed Scenarios predictions

Screen Shot 2013-03-01 at 22.08.52Shell has been forecasting dramatic increases in its own production (which have never materialised) for years. If they cannot accurately forecast how their own assets will perform, how can they expect to forecast the whole world’s activities. Vince Cable was actively involved in scenario planning development while at Shell. Need I say more?

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Screen Shot 2013-10-25 at 10.27.00By John Donovan

In the last several days there have been several articles published telling the world about the latest predictions from the famed Shell Scenarios soothsayers forecasting peak oil and the end of the oil era.

Shell says the end of the oil era is 2070: Mother Nature Network (blog)-by Jim Motavalli-Oct 18, 2013
Like the UN with its high, medium and low predictions, Shell is saying ” if … By 2070, the passenger road market could be nearly oil-free and …

Shell predicts petroleum-powered cars will be ‘nearly’ gone by 2070 …: Autoblog (blog)-by Sebastian Blanco-Oct 18, 2013
“By 2070, the passenger road market could be nearly oil-free.” That’s the key line (for us, anyway) in a report out from Shell titled New Lens …

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Financial Times Assessment of Peter Voser

Screen Shot 2013-06-30 at 08.30.42…doubts about the performance of Shell have become more evident recently after Shell announced a 20% drop in second-quarter profits, plus losses and write downs in North America and disillusion with Shell’s big spending plans. Voser admits that Shell’s Upstream Americas business was in the red and that exploration results in US shales are disappointing. Shell’s huge bet on US shale is his biggest regret.  Voser further admits that Shell is yet to complete a single well in its Alaska drilling fiasco (despite already spending $5 billion on the ill-fated Arctic project). “That was a big disappointment to me personally,” he said.

By John Donovan: Sunday October 6, 2013

The Financial Times has published two articles today about Peter Voser, the departing Chief Executive Officer of Royal Dutch Shell Plc.

The first article claims that his vision has left Shell in “rude health” following Vosers supposed transformation of the oil giant following the hydrocarbon reserves fraud. The scandal was disclosed to shocked shareholders and the news media in January 2004. Jeroen van der Veer, who actually led the company during the years immediately after the scandal, might feel entitled to some credit.

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The integrity of Shell EP Ireland CEO Michael Crothers

Screen Shot 2013-05-03 at 14.17.32At that point, when you send a letter in your name knowing that it is designed to deceive, you have lost your integrity and join previous Shell senior executives, such as Jeroen van der Veer, who also gave in to the dark side of Shell. Bill Campbell, the retired HSE Group Auditor of Shell International has confirmed that the same internal investigation smokescreen was used in respect of the Brent Bravo deaths scandal.

From: John Donovan <[email protected]>
Subject: OSSL DEBACLE
Date: 10 June 2013 09:32:04 GMT+01:00
To: [email protected]
Cc: [email protected], [email protected], “[email protected] COMPANY” <[email protected]>

Dear Mr Crothers

I am writing to you in connection with your response letter dated 28 May 2013 to Deputy Clare Daly TD, a member of the Dail, the Irish Parliament.

As you will recall, the subject of the correspondence was OSSL, the company formally employed as a “Mr Fixit” by Shell E&P Ireland Limited.

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In the new Shell to lie is acceptable unless your found out

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Screen Shot 2013-05-21 at 23.30.59The crisis in my book, and we are far from the endpoint in this, is that RDS officials lied in that the decision to move Kulluk was not related to tax avoidance when it was.  Perhaps that is why the RDS CEO has taken a closer interest in his family and the sustainability of his future.

ARTICLE BY BILL CAMPBELL, RETIRED HSE GROUP AUDITOR, SHELL INTERNATIONAL

In the new Shell, that which developed in the days of post transformation, group dancing in that nice hotel near the Het Loo Palace, with the dear leader Watts arriving from space etc around the same time, who can forget those heady days.  Is that when to lie and deceive became the norm in the head sheds of The Hague. Is that when the growth of VP’s started, not the Joe Biden variety, the Shell model, we currently appear to have more VP’s than indian meals sold in Bradford on a Friday night.

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BG Group CEO Chris Finlayson, past indiscretions at Shell

In summary, Finlayson (right) sees himself as a victim to the goings-on in 1999, just one of many victims in the then Shell Expro, described in our Audit notes as a hostile environment of extreme denial.  I can concur that Chris was a victim, when for example he made light of the Touch F-All scandal in various press statements of which there is an audio record he did so because his Brent Field Manager Jorn Berget misled him.  He soon realised this but despite many attempts by me and his Internal Audit Manager he would not retract the statement.  In fear, no doubt for his job, his future promotion prospects etc, and led by the ear by his mentor and boss Malcolm Brinded he toed the line.

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Shell under the skin, 10 years after crisis

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LONDON | Wed May 29, 2013 7:31pm EDT

(Reuters) – A decade ago, Royal Dutch/Shell’s (RDSa.L) boss was fighting to close the gap between the truth about his company’s oil and gas reserves and the much larger figure in its accounts.

He lost the fight, and his job. Scandal engulfed one of the world’s biggest companies, exposing years of neglect.

Fast forward to May 2013, and the surprise news that chief executive Peter Voser will retire next year caused barely a ripple. Shell has recovered shareholder confidence. But while the risks may all be in the open now, they remain big.

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Jeroen van der Veer: Hypocrite Supreme

Screen Shot 2013-05-18 at 23.12.50Mr Van der Veer (shown right) is no fan of this website. In January 2008, as was reported in The Times, we published a leaked email from him in which he forecast that world demand for oil and gas would outstrip supply within 7 years. Events has shown that he was talking nonsense on that occasion as well.

By John Donovan

The fuelfix headline encapsulated the theme of the speech given last Thursday by former Royal Dutch Shell CEO Jeroen van der Veer at the KPMG Global Energy Conference in Houston:

Former Shell CEO: Safety must come first. And second. And third.

This qualifies as sheer hypocrisy on his part.

On his watch, Shell had an absolutely atrocious safety track record for which he was publicly criticised.

(Shell CEO Jeroen van der Veer “hurt” by criticism: 3 Sept 2007)

On his watch, even lifeboats serving Shell North Sea platforms were found to be unseaworthy.

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Shell and BP in secret meetings about oil

Screen Shot 2013-05-19 at 08.31.34Top petrol chiefs held talks once a year: The whistleblower claimed the office was swept for bugs before the talks, lasting nearly two hours. He added: “The security around their meetings was incredible. There was lock-down. The whole floor was a no-go area for anyone else. “It was just the two of them — the bosses of two huge rival companies — no PAs, no deputies. “It’s common knowledge they were talking about oil prices.”

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Meetings … oil bosses Jeroen van der Veer, left, and John Browne

Exclusive By RHODRI PHILLIPS

The ex-boss of Shell held top-secret meetings with the BP chief, an insider claimed last night.

Jeroen van der Veer entertained John Browne strictly ALONE at his London HQ once a year, a former Shell worker said.

The whistleblower claimed the office was swept for bugs before the talks, lasting nearly two hours.

The firms face claims of ‘price fixing’.

He added: “The security around their meetings was incredible. There was lock-down. The whole floor was a no-go area for anyone else.

“It was just the two of them — the bosses of two huge rival companies — no PAs, no deputies.

“It’s common knowledge they were talking about oil prices.”

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Shell and BP bosses met secretly to fix oil prices?

The Sun newspaper alleges Shell boss Jeroen van der Veer secretly met Lord Browne of BP once a year to discuss oil prices. Perfectly matched pair to engage in some jiggery-pokery.

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By John Donovan

The Sun newspaper alleges Shell boss Jeroen van der Veer secretly met Lord Browne of BP once a year to discuss oil prices.

Under the website headline “Shell and BP in secret meetings about oil”, the Sun is publishing an article on Sunday alleging that Jeroen van der Veer, Peter Vosers predecessor as Chief Executive of Royal Dutch Shell Plc, secretly met his BP counter-part, Lord Browne, once a year to discuss oil prices.

(Headline in Sun Newspaper article: “I NEED WORD IN YOUR SHELL-LIKE ABOUT OIL”)

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Gazprom, Shell to develop Arctic oil fields

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The Associated Press: 8 April 2013

MOSCOW — Energy giants Gazprom and Royal Dutch Shell PLC have agreed to jointly develop offshore Arctic oil fields, Russian media reported Monday.

The companies will develop the Severo-Vrangelevsky field in the Chukchi Sea and the Severo-Zapadny field in the Pechora Sea. Russian Energy Minister Sergei Donskoy was quoted by national media as saying Monday that Shell is likely to have a 33.3 percent stake in the fields.

Russia is trying to assert jurisdiction over parts of the Arctic, which is believed to hold up to a quarter of the Earth’s undiscovered oil and gas. By speeding up the Arctic oil project, the Kremlin is strengthening its bid.

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Shell Deeply Ashamed

Screen Shot 2013-02-13 at 15.29.55FROM OUR NEWS ARCHIVE: LONDON EVENING STANDARD Wednesday, 27 October 2004 page 42 BUSINESS SECTION

SPEAKING OUT

“I’m convinced we have a lot of strengths. All of us are deeply ashamed about what happened about the reserves, but we are determined to regain our, position.”

– Shell chairman Jeroen van der Veer on the oil giant’s attempts to put its misdemeanours behind it

A word in your Shell-like

Screen Shot 2013-01-23 at 13.17.19FROM OUR FEBRUARY 2005 SHELL NEWS ARCHIVE: “…we learned last year that the company leadership had been systematically lying to itself, its shareholders and wider stakeholders about the size of its oil reserves.”: “for years Shell lied about its sustainability as a business while preaching principles that it was betraying.”: “Shell had knowingly overstated its reserves by a third, a monumental betrayal of trust that is Europe’s version of Enron.”

By John Donovan

We have printed below a brilliant Will Hutton article published by The Observer on Sunday 6 February 2005. As he correctly says, this was a company that was lying to itself. No wonder Sir Philip Watts is seeking redemption.

The Observer: A word in your Shell-like

By Will Hutton: Sunday February 6, 2005

There’s nothing wrong with making profits. But we deserve a more sophisticated debate about sharing them

There is nothing like the news of one of Britain’s biggest companies making record profits to bring out all our ambiguities about capitalism in general and profit in particular. The left’s traditional mistrust of corporate money-making still casts a long shadow and even capitalists are uncertain how to respond when their profits are booming.

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Unsure of Shell

Screen Shot 2013-01-23 at 13.17.19FROM OUR FEBRUARY 2005 SHELL NEWS ARCHIVE: A person close to the company said: “Without exception, every Shell person I have met recently has asked me if I am able to help them find something else. Others are leaving without even waiting to find another job.”

By John Donovan

Printed below is an article by Robert Peston in his then capacity and Sunday City Editor of The Sunday Telegraph. He is not the first to have been deceived by the Shell CEO Jeroen van der Veer. Ask Bill Campbell, the former HSE Group Auditor of Shell International.

Sunday Telegraph City Comment, Edited by Robert Peston, Sunday City Editor: (Filed: 06/02/2005)

Jeroen van der Veer is not what you expect from the chief executive of the UK’s most profitable company – which is what Shell became last week, with its disclosure that in 2004 it generated net income of almost £10bn.

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Desperation led to Shell’s plotting to exploit 9/11 attacks

Screen Shot 2014-02-10 at 16.29.29BUILD UP TO SHELL RESERVES SCANDAL: Comments by leading Shell execs: “…the market will want to know whose head is going to roll for what they will see as blatant deception.”; “this is potential dynamite for management credibility and the share price”; “…how you have to break the detail of this news in September, assuming that there is indeed a firestorm of hostile comment…”; “why should we have any more confidence in these numbers than the previous ones…”; “…please don’t let the people who have got us into this mess be under any illusion that there is an ‘easy’ answer…”; “You will blight the relative TSR of the Group and everyone’s score card for years to come”; ‘So “blaming”’ it on field declines and slippage on growth in emerging markets is the least we should do in order to downgrade expectations.’

By John Donovan

When we published an article about Shell executives plotting to exploit the 9/11 attacks, we said that the motive behind the discussion was well founded internal and external concern about Shell production growth and problematic reserves.

We now publish Shell internal emails circulated in the months leading up to 9/11, which provide proof of the degree of concern over these issues that led to Shell executives considering such a distasteful strategy to manipulate the markets.

Some extracts:

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Simon Henry and the reserves time bomb

Were they aware that Simon Henry was a key player, as Head of Global Investor Relations, in dealing with the reserves data and actually had responsibility to ensure the quality/accuracy of the data before it was disclosed to analysts and investors? As we all know, it turned out that some of the data was not only inaccurate, but fraudulent. He had been warned that a Gorgon 600 million BOE reserves booking was an IR time bomb.

Introduction: A draft of the article below was supplied to Shell in advance, namely to Mr Michiel Brandjes, the Company Secretary & General Counsel Corporate of Royal Dutch Shell Plc and the CFO, Mr. Simon Henry. We invited Shell to point out any factual inaccuracy and/or supply comment for unedited publication with the article. No response other than an automated message has been received.

ARTICLE

By John Donovan

On 13 March 2009, the Financial Times published an article about Simon Henry, who was about to become Chief Financial Officer of Royal Dutch Shell Plc. It said that he had survived the reserves misreporting scandal with his reputation intact. I wonder how much investigation of the facts was undertaken before arriving at that conclusion?

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Short list of praiseworthy senior Royal Dutch Shell executives

Now we have his equally scandal tainted successor, Peter Voser, Chairman of the UBS Audit Committee at the time when UBS was engaged in all kinds of criminal activity.

Posting on Shell Blog by LondonLad on Jan 17th, 2013 at 19:56

In all honesty can the Donovan’s kindly list some of the past and present senior executives of Royal Dutch Shell that they would support for their good work, honesty, ability to abide by country HSE requirements, etc. etc. More and more it seems that if you work for RDS at a (very) senior level they’ll get shafted via real AND tabloid reporting on this website, Greenpeace (dick-heads), and other tree hugging websites. We (the countries around the world) need to advance, risks need to be taken as a result….

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Reputational damage to Peter Voser

By John Donovan

The mainstream news media is reporting that the reputational damage to Peter Voser and the Shell board arising from the Arctic meltdown is huge. The fact that Shell’s leadership is hopelessly incompetent comes as no surprise to us. No competent board with an ounce of commercial commonsense would allow this website to continue in existence, bearing in mind the damage it has done to Shell over the years by providing an outlet for Shell insider leaks. A Shell official has admitted our success in humiliating the company. Watts was a disaster, Jeroen van der Veer meekly surrendered Shell’s controlling stake in the Sakhalin II project and Voser has now been exposed as a hypocritical fat cat who poured scorn on BP, instead of minding his own ship. Why did Shell rehire Voser in the first place? Surely it would have been better to find someone not tainted by financial scandal to lead Shell after the reserves fraud?

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How Chris Finlayson bungled the Mother of all Projects: Sakhalin II

Chris Finlayson representing Shell and Alexander Medvedev, Gazprom’s Vice Chairman

By John Donovan

Chris Finlayson, the newly appointed Chief Executive of BG Group, held a leadership position in Shell’s Sakhalin II project in Russia from September 2005 to September 2009. The venture was described as “the Mother of all Projects” by the Financial Times.

We have already published an article about his involvement in the Royal Dutch Shell reserves scandal, providing evidence – in the form of authentic Shell internal documents – supporting my conclusion that he was either part of the cover-up, or negligent in his fiduciary duties as a senior Shell executive to protect the interests of investors.

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Jeroen van der Veer exit from Shell

I am only surprised that an ex CEO of Shell leaves the board at a young age. Is Jeroen washing his hands in innocence or trying to put light between him and Shell?? In the past they used to hang in there for long periods until they had to get up too often to take a pee during shareholders meetings. But in recent times Herkstroter left premature, so did Moody-Stuart. And Watts sought salvation…

13/12/2012

Royal Dutch Shell plc has announced today that Mr Gerrit Zalm has been appointed a Non-executive Director of the Company with effect from January 1, 2013. Mr Zalm is the Chairman of the Board of Management of ABN AMRO Bank N.V., a position he has held since February 2009. Prior to that Mr Zalm was the Minister of Finance of the Netherlands from 1994-2002 and from 2003-2007. Mr Zalm will seek re-appointment by shareholders at the next Annual General Meeting (AGM), scheduled to be held in May 2013. (information taken from Shell website)

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The Neptune Strategy: Shell Propped up Apartheid in South Africa

By John Donovan

In 1987, Shell Oil Co implemented a secret 265 page plan devised by a Washington based firm, Pagan International.

The devious plan was designed to undermine support for critics of Shell’s policy of propping up the despised racist apartheid regime in South Africa, just as Shell and its Nazi leader, Sir Henri Deterding,  propped up Nazi Germany before WW2. 

The objective of Shell’s secret campaign was to neutralize boycott groups, including church and civil rights groups, unions and academics.

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Editorial Integrity of “A History of Royal Dutch Shell”

In fact all three Shell members of the editorial committee, Watts, Van der Veer and Munsiff, had form in the culture of corporate cover-up and were therefore ideal from the standpoint of Shell to have editorial influence over inclusion (or non-inclusion) of the dark side of Shell’s history and how that information was treated (spun?)

By John Donovan

The official history of Royal Dutch Shell published in three volumes in 2007 was commissioned by the company and authored by historians associated with Utrecht University who were given unrestricted access to Royal Dutch Shell archives.

The relevant historians, who describe themselves as the researchers and authors of the work, say that none of them are Shell employees and claim that the work is “the fruit of our independent research” with their progress “monitored by an editorial committee, with an equal number of economic historians and company representatives.”

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