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Posts under ‘Jorma Ollila’

Shell signs global strategic alliance agreement with CNOOC

Screen Shot 2014-02-10 at 16.29.29(Reuters) – Royal Dutch Shell: Tuesday, 17 June 2014

* Shell and CNOOC sign global strategic alliance agreement

* Shell and China National Offshore Oil Corporation (cnooc) announced today that they have signed a global strategic alliance agreement

* Under agreement, companies also commit to exploring potential cooperation opportunities in upstream, midstream and downstream

* Agreement was signed by Royal Dutch Shell Chairman Jorma Ollila and CNOOC Chairman Wang Yilin

* Committed to growing business together with CNOOC and other Chinese partners and cooperating with them internationally to bring more and cleaner energy to china – CEO read more

Jorma Ollila, tainted departing chairman of Royal Dutch Shell Plc

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“During Ollila’s time at the helm, Shell has spent hundreds of billions on new projects and lavished generous pay deals on its executives, leading to several protest votes by big investors.”

By John Donovan

The Sunday Times reported on the front page of its business section on 8 June 2014 the news that Shell has started a search for a new chairman to replace the tainted Finn, Jorma Ollila. 

Extract

“During Ollila’s time at the helm, Shell has spent hundreds of billions on new projects and lavished generous pay deals on its executives, leading to several protest votes by big investors.”

Mr Ollila was recently fined by market regulators for failing to disclose his ownership and control of a company in Luxembourg worth 8.2 million euros. He has admitted breaking the law. He prefers to call it “neglecting the law.” read more

Leaving a sinking ship: Royal Dutch Shell Plc

Screen Shot 2014-06-09 at 14.58.51Bichsel will undoubtedly leave shortly, joining Ollila, Rees, Brown, Brinded, Voser, Finlayson, Carne… And when everything starts to collapse, he will at least now have the satisfaction of saying “I told you so”. This is typical for a coward…

By John Donovan

Earlier today Reuters published comments attributed to Royal Dutch Shell Plc Executive Director, Matthias Bichsel.

Extract

“There is always so much talk about these big LNG projects around the world, but only a small fraction of them will get built,” said Matthias Bichsel, who is also a member of Shell’s Executive Committee.

The Financial Times has this weekend pointed put “the company’s leadership is changing at a time when its financial performance has been under scrutiny from investors” and also drew attention to the recent profit warning, following a succession of dismal quarterly results.  read more

Shell starts search for successor to chief

Screen Shot 2014-06-07 at 14.37.49Extract from a Financila Times article by Andrew Parker and Guy Chazan published 8 June 2014

One person familiar with the situation said Mr Ollila was planning to step down because of corporate governance rules, and that the timing of his departure had nothing to do with Shell’s recent financial difficulties. Ben van Beurden became the company’s chief executive in January, when it issued the first profit warning in its history. This… followed several quarters of disappointing results. read more

Oil Giant Shell Kicks Off Hunt For New Chair

Screen Shot 2014-06-07 at 14.37.49Extract from a SkyNews article by its City Editor, Mark Kleinman, published Saturday 7 June 2014 

Royal Dutch Shell, the biggest company on London’s stock market, has kicked off the hunt for a new chairman. Sky News has learnt that the oil giant has asked Egon Zehnder International, the executive search firm, to identify a successor to Jorma Ollila, who is expected to step down next year. The leadership transition will represent another important moment for Shell, with Mr Ollila having taken over as chairman in 2006 in the wake of a scandal which involved the company dramatically overstating its reserves. read more

Threat by GSOC officer leading investigation of Shell/Irish Police Corruption allegations

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  • Threat against John Donovan by officer leading Garda Ombudsman investigation of Shell/Irish Police Corruption allegations – Mr Johan Groenewald. 
  • Warning by Mr Groenewald about honesty of OSSL before he has even announced the result of his impartial investigation
  • Denial by Mr Groenewald that he tore up OSSL statements
  • As a result of revelations in the extraordinary email correspondence below, some Irish citizens may have reservations about his competence, impartiality, judgement, and plain common-sense to lead such an investigation
  • Some may conclude that due to his disregard of evidence, he has destroyed the credibility of his findings before they have even been published.

By John Donovan

I sent an email earlier this week to Johan Groenewald, the officer in charge of the Garda Ombudsman (GSOC) investigation into OSSL allegations of Irish police corruption sponsored by Shell, relating to the controversial Corrib Gas Project.

I did not anticipate any response because Mr Groenewald had indicated through OSSL that he did not want to receive any emails from me.

Against expectations,  he did respond and has since engaged in a flurry of email correspondence with me, the tone of which was initially constructive and polite, but deteriorated earlier today when he resorted to issuing a threat and then sent a parting email message, before blocking my emails so I could not reply. read more

Irish Corruption Scandal: OSSL Cessation of hostilities

Screen Shot 2013-09-18 at 13.41.10By John Donovan

Last month I supplied OSSL directors with admittance passes for the Royal Dutch Shell AGM in The Hague.

I have already published a transcript of the resultant interesting public discussion between Desmond Kane for OSSL (above right) and the two top people at Shell, its CEO Ben van Beurden and Chairman Jorma Ollila.

Since then, the one way barrage of emails from OSSL to various parties, Shell, the Irish Police Commissioner, the Irish Justice Minister, Roadbridge, the Police Ombudsman, etc – all copied to me – seems to have ceased. read more

The most Bilderbergian company of all, Shell Oil

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Bilderberg critics are often labelled conspiracy theorists, particularly due to beliefs that the meeting is a sinister attempt by the global elite to concentrate power and establish a global government. (Source)

Screen Shot 2014-02-10 at 16.29.29Extract from a Guardian article by Charlie Skelton published 2 June 2014 under the headline: Bilderberg 2014: George Osborne and the man at the centre of everything

After wrapping up his career in public service, Kerr hopped gracefully into the City, and was until recently deputy chairman of the most Bilderbergian company of all, Shell Oil.  Half diplomat, half corporate creature, Sir John is the ultimate behind-the-scenes powerbroker – a barely visible fixer, in whom the public and private spheres are perfectly melded. He’s Bilderberg incarnate.

RELATED ARTICLES

The confidential nature of Bilderberg led to criticism of the group’s lack of transparency and accountability, along with concerns about potential lobbying. There has also been speculation from conspiracy theorists about the purpose of the meetings. The secretive approach to staging the conferences has led to the younger generation of Bilderberg attendees being uncomfortable with the policy of total media exclusion. SOURCE

The recent secretive and controversial Bilderberg Conference attended by Ben van Beurden and Jorma Ollila. read more

Ben van Beurden and Jorma Ollila agree OSSL meeting to achieve ‘a happy conclusion’

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By John Donovan

Printed below is a transcript of a self-explanatory exchange at the Shell AGM this morning involving Desmond Kane representing whistleblower company OSSL and Jorma Ollila (Chairman) and Ben van Beurden (CEO) representing Royal Dutch Shell Plc.

Note that Ben van Beurden repeatedly stresses that there is no evidence to support the allegations OSSL is “fond of making.”

What he does not say is that the alleged events never happened.

And what about the evidence of the OSSL invoice to Shell? Is Shell saying that the OSSL invoice is a fake? If so, Shell should call in the police. It would be their duty to do so. read more

Royal Dutch Shell Chairman Jorma Ollila failed to disclose ownership of Luxembourg company worth €8.2 million

Screen Shot 2014-03-27 at 12.56.28“It will be interesting to see what happens next. If Ollila (right) did not disclose his Luxembourg interests to the authorities, this was presumably because he did not declare them for tax purposes either. So when others within the companies that he leads commit breaches of inconvenient laws, they can presumably use the justification that they are only following the example of their chairman. Since Ollila does not have any oil industry specific skills to offer, the only reason for his role as chairman is to provide leadership and to set an example as a role model. As such, his conviction for breaking securities laws should be seen as gross or wilful negligence.  I presume that he will be resigning before the AGM.” It is almost exactly 10 years since another dishonest Royal Dutch Shell Chairman, Sir Phil Watts, resigned in disgrace.

By John Donovan

Jorma Ollila, the Chairman of Royal Dutch Shell Plc has been fined by market regulators for failing to disclose his ownership and control of a company in Luxembourg worth 8.2 million euros. He has admitted breaking the law. He prefers to call it “neglecting the law.”

It is therefore interesting to reflect on his past comments about transparency and trust.

The following extracts are all taken from a speech he made as Chairman of Royal Dutch Shell Plc on 1 November 2012.

Extract read more

Jorma Ollila fined for concealing Luxembourg investments

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Screen Shot 2014-02-10 at 16.29.29Extract from an article published 26 March 2014 by

Jorma Ollila, who is now chairman of the board of both Royal Dutch Shell and steelmaker Outokumpu, has been fined 3,000 euros by Finland’s Financial Supervisory Authority (Fiva) for failing to make a timely disclosure that he owns an investment company called Kestrel SA. The company is based in Luxembourg and was worth 8.2 million euros at the end of 2012, reports the daily Helsingin Sanomat. The paper says he told Fiva that he “mistakenly” neglected to notify authorities of the firm… read more

Finnish market watchdog sanctions Shell chairman Ollila

Screen Shot 2014-03-27 at 00.22.33HELSINKI, March 26 Wed Mar 26, 2014 2:14pm EDT

(Reuters) – Finland’s financial watchdog said it has imposed a 3,000 euro fine against Jorma Ollila, the board chairman of Royal Dutch Shell Plc as well as Outokumpu Oyj for not declaring a company he controlled to a public insider register.

A spokeswoman for the Finnish Financial Supervisory Authority said on Wednesday that Ollila had been given an administrative fine for not disclosing Kestrel SA, an investment company he owns, in time in the public insider register of steel firm Outokumpu. read more

Royal Dutch Shell Uncertainty in Ukraine

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*Three days after Russian diplomats assured the West that Russia will not invade Ukraine, Russia … invaded Ukraine.

Photo Credit

By John Donovan

Screen Shot 2014-02-10 at 16.29.29In 2012 Shell won a license to start commercial production at the Yuzivska gas field in eastern Ukraine. A year ago then Royal Dutch Shell CEO Peter Voser signed a contract to drill for natural gas in Ukraine.

In January of this year, following negotiations between RDS Chairman Jorma Ollila and the then Prime Minister of the Ukraine, Shell expanded its plans for the Ukraine.

All of these deals were agreed while Viktor F. Yanukovich was President of the country.

Unfortunately for Shell the corrupt President is now deposed and hiding in Russia under the protection and control of Putin. read more

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. read more

Ukraine’s cooperation with Shell expanded

27 January 2014

Ukraine’s agreement with international company Royal Dutch Shell remains inviolable, Prime Minister Mykola Azarov has reaffirmed in Davos. Moreover, according to him, cooperation with the largest international company will be expanded, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.

Following the results of negotiations in Davos between Azarov and Jorma Ollila, Chairman of the Board of Directors of Royal Dutch Shell, it became known that the seventh largest company in the world can deal not only with shale gas production in Ukraine. read more

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.  read more

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