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If Putin Sakhalin2 blackmail tactics were applied in Groningen Gas debacle negotiations

Below is an English translation of a Dutch article published by the NRC last night. It suggests that Shell and Exxon are getting away with very good terms in regards to the financial fallout from the Groningen earthquake damage debacle. Basically Shell and Exxon are cleverer than the negotiators of the Dutch government. The article author Menno Tamminga makes the comparison ‘how would Putin have handled this’? With referral to Putin blackmail tactics used against Shell in the Sakhalin2 debacle. read more

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Groningen Earthquake Victim Compensation

Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad. NAM is the Shell/Exxon Joint Venture company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions to deal with damaged residences.

Three quarters of Groningen victims accept NAM offer

Louis Hoeks • Economics & Politics

Of all 6199 Groningers with outstanding reports about earthquake damage to their homes, almost 74%, 4562 people, accepted the offer from the Nederlandse Aardolie Maatschappij (NAM) for compensation. In almost 10% of cases, the proposal was rejected and almost 17% have not yet responded. This is apparent from a letter that Dutch Minister Eric Wiebes of Economic Affairs and Climate sent to the House of Representatives on Thursday.

These are claims for compensation that were submitted before 1 April 2017 and therefore do not fall under the damage protocol presented on 31 January of this year. “We are unhappy that some people have rejected NAM’s offer,” said Wiebes Thursday in a parliamentary debate. The minister spoke with NAM, together with Commissioner of the King René Paas. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Question-mark over NAM Groningen Earthquake Damage Guarantees

Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad. NAM is the Shell/Exxon Joint Venture company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions to deal with damaged residences.

Nijboer wants reaction from cabinet to NAM guarantees

Carel Grol • Entrepreneurship

Member of Parliament Henk Nijboer (PvdA) wants a response from the government to the message in the FD that Shell and ExxonMobil offer limited security with the NAM agreement. Lawyer and professor Steef Bartman of Leiden University wrote in an opinion piece in this newspaper on Monday, in which he wondered whether NAM can fulfill its obligation to damage and strengthen at any time.

A week ago Minister Eric Wiebes of Economic Affairs concluded a deal with Shell and ExxonMobil. The oil companies said they stood surety for ‘Groningen’. However, a number of provisions leave room for Shell and ExxonMobil to renegotiate in the future the guarantees issued and the financial distribution of gas revenues. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Groningen needs reinforcement: watchdog

Groningen needs reinforcement: watchdog

The repair and reinforcement of Dutch homes damaged by gas-extraction earthquakes in Groningen needed to be speededup, the state supervisor on mines SoDM told economic minister Eric Wiebes.

Monday 2nd July 2018

RTL Nieuws reported that SoDM found approximately 1,900 homes in the region that, if not reinforced quickly, would no longer meet official safety standards. The distinctly Dutch rules state the risk of someone dying in an earthquake must not be higher than the risk of someone drowning in a flood elsewhere in the Netherlands. Another 3,100 homes needed urgent attention and 2,100 others needed temporary reinforcement, at least until 2021, the watchdog reported. Declining output at the natural gas field meant only temporary reinforcement was essential, it added. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Gas production at Groningen field falling faster than planned

|By: , SA News Editor

  • Production at the Groningen natural gas field will come in lower than expected this year as the Dutch government works to end production completely by 2030 in an effort to limit seismic risks in the region.
  • Output will have fallen to 19B-20B cm in the year ending October 2018, the Dutch gas sector regulator says, below the original cap of 21.6B cm set for the year and down from 24B cm last year.
  • The Groningen field is a joint venture of Royal Dutch Shell (RDS.ARDS.B) and Exxon Mobil (NYSE:XOM)
  • read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    Shell and ExxonMobil waive gas claims against Dutch State

    Groningen Earthquake Damage: ‘Due to the declining gas extraction and the increased costs of damage and reinforcement, the current so-called payment scheme is no longer tenable’

    Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele DagbladNAM is the Shell/Exxon Joint Venture company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

    Shell and ExxonMobil waive gas claims against State

    From our editor • Economics & Politics

    Shell and ExxonMobil, each with an interest of 50% in NAM, will waive a claim against the State for the gas that remains in the ground after the extraction has ended. Furthermore, the two oil companies offer guarantees that NAM can and will always pay for earthquake damage and the reinforcement of buildings.

    This is evident from the agreement in broad lines that Minister Eric Wiebes of Economic Affairs and Climate has concluded Monday with Shell and ExxonMobil about gas extraction from the Groningen field. It is expected that around 450 billion cubic meters of gas will remain in the ground after the extraction. At the current gas price, this represents a value of around € 70 billion. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    Shell, Exxon not to seek compensation for end of Groningen gas production: government

    Shell, Exxon not to seek compensation for end of Groningen gas production: government

    Reuters Staff: Monday June 25, 2018

    AMSTERDAM (Reuters) – Energy companies Royal Dutch Shell and Exxon Mobil will not submit a claim for missed revenue due to the Dutch government’s decision to halt gas production at the Groningen field by 2030, the Dutch ministry of Economic Affairs said on Monday.

    “A lot of gas will be left in the ground,” Economy minister Eric Wiebes said at the presentation of his deal with the oil majors responsible for extracting Groningen gas.

    “That gas is the property of the oil companies, but they will not submit a claim and the government is not required to compensate them.” read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    Groningen Earthquakes: Dilemma heaped upon dilemma

    Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele DagbladRoyal Dutch Shell and ExxonMobil each own a 50% share in NAM, the company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

    “The minister cannot sign a deal with Shell and Exxon, which involves billions of euros…

    Shell and Exxon lack trump card in negotiations with Wiebes

    BY BERT VAN DIJK AND GIJS DEN BRINKER

    Negotiations between Minister Eric Wiebes of Economic Affairs & Climate and oil companies Shell and ExxonMobil about gas extraction in Groningen are almost complete. Within two weeks, the minister will present a coalition agreement on the billions issue. Which cards are on the table?

    1. Security of supply

    Minister Wiebes announced at the end of March that he wants to bring gas production in Groningen to zero as quickly as possible. That would mean that the gas extraction by those lower volumes would soon no longer be profitable for Shell and ExxonMobil. Even though there is hardly any money to be gained from gas extraction, several sources report the FD. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    NAM Earthquakes: Anger of Groningen Population with Minister Eric Wiebes

    Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele DagbladRoyal Dutch Shell and ExxonMobil each own a 50% share in NAM, the company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

    The Minister wants, as he explained once more, to avoid the risk of unnecessary housing being demolished by the reduction of gas production. By carefully examining the new situation first, it must be prevented that ‘an entire province is unnecessarily demolished…’

    Minister Wiebes wants to make up again with the Groningers

    Louis Hoeks • Economics & Politics

    There were no apologies, but on Thursday Thursday Eric Wiebes was expressly looking for an understanding of the House of Representatives and the Groningers, many of whom occupied the public gallery. Originally, the debate was about the historic cabinet decision to close the Groningen gas tap in 2030.

    Instead of praise for the March decision, the high-spirited quarrel in which the Minister of Economic Affairs and Climate had ended last week dominated. Not only the Groningen population is angry, but also a large number of regional administrators, such as former PvdA politician Hans Alders who stepped up as National Coordinator Groningen last week. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    ‘Big step forward’ in dealing with Groningen earthquake damage claims

    Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele DagbladRoyal Dutch Shell and ExxonMobil each own a 50% share in NAM, the company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

    ‘Big step forward’ in dealing with Groningen earthquake damage claims

    Lone Mugstorm • Economy & Politics

    The Nederlandse Aardolie Maatschappij (NAM) has already dealt with more than half of the claims relating to natural gas extraction in Groningen. This is what Minister Wiebes of Economic Affairs reports in a letter to the House of Representatives on Friday.

    These are the approximately 5,600 claims submitted before 31 March 2017. These will still be handled by NAM. Residents of Groningen who have suffered damage from gas extraction after that date can now go to a special government counter. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    Extra ‘Groningen’ Earthquake costs at the expense of Dutch national debt

    …other extra costs, such as repair and consolidation of houses, will soon be charged to the national debt to the extent that they are not paid by NAM. How high they are remains to be seen…

    Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele DagbladRoyal Dutch Shell and ExxonMobil each own a 50% share in NAM, the company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

    Extra ‘Groningen’ costs at the expense of national debt

    From our correspondent • Economy & Politics

    The Spring Memorandum has yet to be ratified in the Cabinet, but is in broad terms ready, as sources in The Hague confirm. Education will receive €60 million on balance this year. A setback of €200 million, partly due to higher student numbers, could only be covered for €140 million within its own budget.

    At the instigation of VVD and CDA, the Ministry of Justice also receives such an amount, but that is only from 2019, as agreed. As in previous years, the extra expenses can be easily absorbed from the windfalls that occur in social security and healthcare. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    Exxon Shell Earthquake Fallout

    Incidentally, the cancellation of Shell’s investment in the Groninger gas field to zero does not mean that there can not be any more burdens. The company expects to have to write off part of the gas reserves in Groningen at the end of this year as well.

    Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele DagbladRoyal Dutch Shell and ExxonMobil each own a 50% share in NAM, the company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

    NAM and Shell write ‘Groningen’ to zero, ExxonMobil not yet

    Bert van Dijk • Entrepreneurship

    Oil companies Shell and ExxonMobil differ from each other about the value of the large gas field in Groningen. Shell and ExxonMobil are the shareholders of the Dutch Petroleum Company (NAM), which operates the Groninger gas field.

    The British-Dutch Shell has written off its investment in the NAM’s Groningen gas field in the past quarter, whereas the American ExxonMobil has not adjusted the value of its investment in ‘Groningen’. This is evident from the first quarter results that both companies recently announced. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    Dirty Shell

    Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele DagbladRoyal Dutch Shell and ExxonMobil each own a 50% share in NAM, the company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

    We thank scarce technical talent for a career at ‘dirty’ Shell

    Van Beurden emphasizes time and time again that Shell wants to be a company that not only pleases its shareholders, but also has an eye for a changing society. But at the same time it has to do with green activism among shareholders, a climate law case of Milieudefensie, allegations of corruption in Nigeria and, through NAM, co-responsibility for the Groningen earthquakes.

    Johan Leupen: Bert van Dijk • Economics & Politics

    The status of Shell as a favorite employer for technical students is a thing of the past. Young, highly educated technicians often prefer sustainable companies. They do not want to work for a company that uses old energy sources such as oil and gas.

    This is evident from a tour of technical students and headhunters. ‘We see that companies such as Shell have been particularly troublesome,’ says Joost Fortuin, director of recruitment and headhunting agency Page Group Nederland. ‘Many technicians from Delft do not want to identify themselves with this type of companies anymore. You do not contribute to a better, more sustainable world. ‘ read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    Shell writes off entire investment in troubled gas venture NAM

    Thursday 26 April 2018

    Shell has written off its entire $244m investment in gas production company NAM in a move seen as a further attempt to distance itself from the troubled company.

    NAM is a 50-50 joint venture between Shell and ExxonMobil and faces huge damages claims because of the earthquakes in Groningen province which have been caused by the extraction of natural gas.

    The one-off charge was booked in first-quarter earnings published on Thursday, according to the Financieele Dagblad. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    SHELL WRITES OFF NAM SHARES OVER GRONINGEN GAS EXTRACTION REDUCTION

    By Janene Pieters on April 26, 2018 – 12:20

    In its bookkeeping, Shell is reducing the value of its interest in NAM to zero in response to the Dutch government deciding to cin the coming years, RTL Nieuws reports.

    Dutch petroleum company NAM is responsible for gas extraction in Groningen. NAM is owned half by Shell and half by ExxonMobil. Depreciating its shares in NAM is costing Shell 244 million dollars, according to RTL.  

    The Dutch government concluded that safety in Groningen can only be guaranteed if the cause of the gas extraction earthquakes in the province is completely removed. The government therefore plans to reduce gas extraction in the province to 12 billion cubic meters by 2022 at the latest. From October 2022 gas extraction will be reduced to 7.5 billion cubic meters “and possibly considerably less”. And after that it will gradually be reduced to zero. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    Shell writes off Groningen gas field on Dutch phase-out

    Reuters Staff: APRIL 26, 2018 / 4:02 PM

    LONDON (Reuters) – Royal Dutch Shell said on Thursday it would write down its reserves in the Groningen gas field, one of Europe’s largest, following the Dutch government’s decision to phase out production by 2030.

    The Anglo-Dutch company holds a 50 percent stake in the field, which has seen production reduced in recent years following a series of damaging earthquakes. 

    Shell said it expects to write off an estimated 0.5 to 0.65 billion barrels of oil equivalent in 2018. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan
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