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Posts under ‘Jeroen van der Veer’

Shell’s dismal track record on transparency

“Shell is very different from Enron. We were criticized for that some time ago and I’’m glad we have a absolutely rock-solid way we do business. It’s all completely transparent, as far as Shell is concerned.”

By John Donovan

Following publication of my article Shell false pledges of transparency and openness contributors to this website have been accused of hating Shell. That is not the case.

Many of us do, however, take great exception to the hypocritical claims made by successive RDS Chairman and CEO’s over many years that Shell operates within an ethical code – the General Business Principles – which includes a pledge of transparency.

Shell Group Chairman Sir Mark Moody-Stuart preached transparency while conspiring with senior colleagues to hide information from Shell shareholders. read more

OPL 245: DONNY CHING LIVING IN A WORLD OF ALTERNATIVE FACTS

Bill Campbell comments on OPL 245 Statement by Shell Legal Director Donny Ching

Chronology is important is it not!

The international law firm reported to the RDS board in July 2016 but the emails confirming Shell knew money was going to individuals was not exposed till April 2017 a year later and was confirmed by the statement from the Shell spokesman to be an accepted fact in his 10th April 2017 press statement.

So did the international law firm who we are to assume gave a positive message to the Board have no knowledge of these emails in 2016?

Ching seems to be living in the world of alternative facts, his statements in the article above that Shell had no visibility into all this and payments were made without their prior knowledge or authorisation by Shell totally contradicts what RDS has already admitted on record in April this year. read more

Keith Ruddock and the OPL 245 scandal

A few days ago, more than $43m (£34m) in cash (above) – proceeds of unidentified unlawful activity – was seized by the Nigerian anti-corruption authorities from a flat in Nigeria’s main city, Lagos. Is the find connected to OPL 245?

By John Donovan

The name of former Shell General Counsel Keith Ruddock (right) has popped up in leaked Shell internal emails relating to the OPL 245 corruption scandal. 

I note in this regard a comment by Mr Ruddock in an interview by GC Magazine: read more

Royal Dutch Shell Plc.com in Chapter 11

Over 50 books contain references to our Shell focussed websites, or our founders Alfred and John Donovan.

One example is a book published in 2010 entitled “United States Trademark Law.”

Chapter 11 of the book is devoted to the website royaldutchshellplc.com

The following are extracts. The entire chapter can be read here.

What is stated is not entirely accurate. We sued Shell four times for stealing ideas and Shell settled ALL of the claims, each time involving a confidentiality agreement that Shell later contravened. We also successfuly sued Shell twice for libel. read more

Shell Chairman named in $1.3 billion OPL 245 fraud

UPDATED WITH POSTING BY BILL CAMPBELL, RETIRED HSE GROUP AUDITOR, SHELL INTERNATIONAL

By John Donovan

I warned Shell for over a decade that Malcolm Brinded (above) has no scruples. Indeed, in 2009, I published an article under the headline: Royal Dutch Shell Fat Cat Malcolm Brinded: Big Brain but no scruples.

Brinded was an executive director of Royal Dutch Shell Plc until 2012 and is still Chairman of the Board of Trustees of the Shell Foundation.

It is, therefore, interesting, to say the least, that he is named in an Italian prosecutor’s report as one of the senior Shell executives involved in the $1.3 billion OPL 245 deal, said to be a massive scam. read more

No credibility in Shell Peak Oil Forecasts, says John Donovan

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screen-shot-2016-11-03-at-14-50-16A number of articles have been published today reporting a forecast by Shell CFO Simon Henry, that “Peak Oil” could be just 5 years away. e.g.

Oil Demand Peak Could Be Just 5 Years Away: Shell

Oil falls after Shell warns peak demand ‘five years off’

Shell makes a jaw-dropping statement on peak oil

It is, therefore, an appropriate moment to look back on a directly related forecast made in January 2008, by the then Shell CEO Jeroen van der Veer. He forecast that demand for oil and gas would outstrip supply within 7 years, meaning by 2015. The hopelessly inaccurate prediction was based on an assessment from the Shell Scenarios team. No doubt many of the same geniuses now advising Simon Henry. read more

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.  read more

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. read more

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.  read more

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. read more

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.  read more

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.  read more

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. read more

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.  read more

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. read more

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. read more

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