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Shell News Updated Saturday 3rd June 2017

Shell fears ‘backlash’ from Paris deal exit: The Times: Saturday 3 June 2017

The Anglo-Dutch company has been one of the most outspoken oil industry supporters of the 2015 accord, telling Mr Trump that withdrawal would weaken America’s position globally.

Shell still working to reduce emissions despite U.S. pullout from Paris agreement: The Times: Saturday 3 June 2017

President Donald Trump pulled the United States out of the Paris climate agreement Thursday, but one of the largest companies in the world said it will still do its part to provide clean energy.

Big payout for Shell and ExxonMobil from NAM holding: DutchNews.nl: 2 June 2017

NAM has €3.4bn earmarked for provisions on its balance sheet. A small portion of this, 15% or €495m, is reserved for claims made against the company for earthquake damage.

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Shell News Headlines Updated 26 May 2017

Energy-Generating Kites Backed by Shell Set for Test in Scotland: Bloomberg/Quint: 26 May 2017

Power-generating kites backed by Royal Dutch Shell Plc, Schlumberger Ltd. and EON SE will start tests in the U.K. this summer, with the aim of developing a technology that could eventually replace offshore wind turbines. Kite Power Systems, known as KPS, is working on a 17-meter device that flies on air currents high above the ground and generates power by pulling at a cable. It raised 5 million pounds ($6.4 million) from the three energy giants last December. “The reason we are interested in something like this is that it has potential to reduce the cost of offshore wind in the future,” said Geert van de Wouw, managing director of Shell Technology Ventures BV.

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Rebellious Shell shareholders to vote for new climate change goals

A group of retail investors have tabled the resolution at Shell’s AGM, asking it to establish carbon emission reduction targets. Photograph: Toru Hanai/Reuters

FULL ARTICLE

SHELL LEGAL DIRECTOR COMMENTS ON OPL 245


I would like to share with you the history of Shell’s involvement in Oil Prospecting Licence (OPL) 245 offshore Nigeria. There has been a lot of media coverage recently on OPL 245 but the focus has been on the 2011 settlement and not the history and events leading up to the settlement. I will take you through a summary of facts and events relating to Shell’s involvement. Given that this matter is currently under investigation by various authorities, I will not comment on the specifics and regret that I cannot answer any questions on this today. However, I hope the information I share will help to clarify why certain Shell companies entered into the 2011 settlement and why we believe there has been no inappropriate conduct by any Shell company or its staff in this matter.

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EARTHQUAKE WARNING TO SHELL SHAREHOLDERS

The following information is taken directly from Shell’s Annual Report for the year ended December 31, 2016

RISK FACTORS

From page 14

Production from the Groningen field in the Netherlands continues to cause earthquakes that affect local communities.
Shell and ExxonMobil are 50:50 shareholders in Nederlandse Aardolie Maatschappij B.V. (NAM), which Shell operates. An important part of NAM’s gas production comes from the onshore Groningen gas eld, in which EBN, a Dutch government entity, has a 40% interest and NAM a 60% interest. Production from the Groningen eld has caused earthquakes in the past which are expected to continue. The earthquakes have caused damage to houses and other structures in the region and complaints from the local community. Additional earthquakes could have a material adverse effect on our earnings, cash ows and nancial condition. Since 2013, the Minister of Economic Affairs (Minister) has imposed a cap on production from the Groningen eld in order to reduce the impact of the earthquakes on the neighbouring communities. In September 2016, the Minister approved the production of 24 billion cubic metres per annum from the Groningen eld until October 1, 2021. At the request of the Dutch parliament, the Minister will review annually whether new circumstances have arisen that call for a further reduction of the production. The rst such annual review is expected by October 1, 2017.

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CURRENT LITIGATION INVOLVING SHELL

The following information is taken directly from Shell’s Annual Report for the year ended December 31, 2016

PESTICIDE LITIGATION

Shell Oil Company (SOC), along with other agricultural chemical pesticide manufacturers and distributors, has been sued by public and quasi-public water purveyors alleging responsibility for groundwater contamination caused by applications of chemical pesticides. Most of these law suits assert various theories of strict liability and seek to recover actual damages, including water well treatment and remediation costs. All of the suits assert claims for punitive damages. There are approximately 30 such cases pending. Based on the claims asserted and SOC’s track record with regard to amounts paid to resolve varying claims, management does not expect that the outcome of these suits pending at December 31, 2016, will have a material impact on Shell, although no assurance can be provided.

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OPL 245: SHELL MI6 LOOSE CHATTER

Introduction by John Donovan

Published below are comments by Mr Bill Campbell, the retired HSE Group Auditor of Royal Dutch Shell. His remarks are in relation to the involvement of Shell and current?/former MI6 officers in the OPL 245 skulduggery currently involving multiple regulatory and legal authorities, including the Dutch Director of Public Prosecution and Dutch Police, the UK Serious Fraud Office, Italian and Nigerian Police and Prosecutors, the US Securities And Exchange Commission, and an investigation by the US Department of Justice under The Foreign Corrupt Practices Act.

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ROYAL DUTCH SHELL PLC 2017 AGM WEBCAST

AGM WEBCAST Tuesday May 23, 2017 at the Circustheater, Circusstraat 4, The Hague, The Netherlands at 10.00 am (Dutch time)

If you are unable to come to the AGM you can watch via the webcast which will be broadcast live at 10:00 (Dutch time), 09:00 (UK time) on the day of the AGM. Shareholders who wish to follow the AGM via the webcast should log on to www.shell.com/agm/webcast and follow the online instructions. The webcast is not interactive and it is not possible to vote or ask questions remotely.

The webcast may include the question and answer sessions with shareholders present at the AGM, as well as background shots of those present in the auditorium. We have also arranged for photographs to be taken throughout the premises for the duration of the event to be kept in the Company’s photo library. These photographs may be used in future publications online or in print. If you attend the AGM in person, you may be included in photographs or in the webcast. Please note that the photographs and broadcast footage may be transferred outside the European Economic Area.

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How Shell, Eni Got Enmeshed in $1 Billion Scandal

Royal Dutch Shell Plc and Eni SpA have become entangled in a $1.1 billion bribery scandal involving a field in Nigeria that could potentially hold enough crude to meet three months of the world’s demand. At least three countries are probing the companies, and Italian prosecutors have named Eni’s Chief Executive Officer Claudio Descalzi and Shell’s former head of exploration and production, Malcolm Brinded, among people who could be prosecuted. Nigeria’s anti-graft agency also filed charges against the companies in March.

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Shell shale oil gamble?

Shell recently announced a $300 million investment in a shale oil operation in Argentina: Shell opens treatment plant in Argentina shale play. Shell is developing controversial tight and shale oil and gas operations globally despite the significant financial and environmental considerations involved. Is this wise, or a sign of desperation? Shell is already on shaky ground with the NAM/Groningen project. There is a nice summary below of what we in the oilpatch already knew for years. Production from fracced wells (in a shale like in the US) declines very fast. A well in the Middle East in a high permeable reservoir typically declines 3-10% per year.

Shale oil declines 35-50% per year. You need to keep drilling faster and faster until you go bust…..

And when the costs are high and returns are marginal, corners will be cut and other problems start. Polluted aquifers, operators going bust so who will clean up the mess?

US shale oil will keep prices low – will it ??

Give this 5 mins – it’s fun.

Excellent website link below, with great interactive charts on how the shale wells in US are doing.

These were supposed to keep the oil price low remember?

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Selection of current Shell new articles

Nigeria Seizes Foreign Vessel for Alleged Theft of Shell Crude: Bloomberg: 27 April 2017

Nigeria detained a vessel with crew members from countries including Pakistan, Indonesia and Ukraine for alleged theft of crude from a facility owned by Royal Dutch Shell Plc, the navy said.

Bar, business groups back Cravath on fighting disclosure of Shell documents: Reuters 27 April 2017

The New York City Bar Association has joined the U.S. Chamber of Commerce in backing law firm Cravath Swaine & Moore in its appeal of an order to turn over documents belonging to client Royal Dutch Shell plc in a possible overseas lawsuit accusing the oil giant of facilitating human rights violations.

Shell Signs Oil Exploration Cooperation Deal In Oman: OilPrice.com: 26 April 2017

Royal Dutch Shell and Oman Oil Company Exploration & Production (OOCEP) have signed a Heads of Agreement for cooperation in resource exploration in an oil and gas block in Oman, the Omani company said on Twitter on Wednesday.

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Esther Kiobel vs money motivated hornets’ nest of 66,000 lawyers

By John Donovan

The battle in the US courts over Shell discovery documents was uneven from the start. Esther Kiobel versus Shell’s formidable US lawyers CRAVATH, SWAINE & MOORE, LLP. The Nigerian-born widow of a murdered Ogoni leader on one side, still fighting to put Shell on trial for complicity in his murder, and a giant law firm on the other, which since 2002, has been blocking her path to justice.

Nonetheless, a US Judge granted her recent petition for Cravath to hand over more than 100,000 Shell discovery documents stored in the USA so that Esther can use them in a pending action against Shell in the Netherlands. In response, Cravath hired another top law firm Hogan Lovells led by one of America’s top lawyers Neal Katyal to represent them in an appeal, thus becoming a battle between Esther Kiobel (now a US citizen) and two giant law firms. No doubt with the malevolent presence of Shell lurking behind the scenes pulling the strings.

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