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Posts under ‘Nigeria’

Ogoni king: Shell oil is killing my people

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screen-shot-2016-12-03-at-21-12-03John VidalSaturday 3 December 2016 19.45 GMT

The stakes are high…

If the London judge hearing the preliminary arguments finds for the king then, in around one year’s time, Shell will have to defend itself in the British courts. The result could be a massive clean-up of Ogale, possibly millions of dollars’ damages and other polluted communities bringing their cases to Britain.

FULL ARTICLE

Opec bends the markets

screen-shot-2016-12-03-at-08-16-41By Ed Crooks, December 2, 2016

In 451 CE, the great Roman general Flavius Aetius rallied a motley army of imperial troops and barbarian allies, and halted the advance of Attila’s Huns at the Catalaunian Plains in Gaul, buying the empire some time and temporarily interrupting its long-term decline. This week’s Opec meeting in Vienna had something of the same feel about it.

Opec’s power peaked in the 1970s, and the US shale oil revolution of the past half-decade has threatened to consign the cartel’s influence to history. But by agreeing a deal to cut production on Wednesday, the Opec ministers showed that if they all acted together they could still bend the oil markets to their will, at least for a while.

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OPEC agrees first output cut since 2008, Saudis to take ‘big hit’

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By Ahmad Ghaddar, Alex Lawler and Rania El Gamal | VIENNA

OPEC has agreed its first limit on oil output since 2008, sources in the producer group told Reuters, with Saudi Arabia accepting “a big hit” on its production and agreeing to arch-rival Iran freezing output at pre-sanctions levels.

Brent crude futures jumped 8 percent to more than $50 a barrel after Riyadh signaled it had finally reached a compromise with Iran after insisting in recent weeks that Tehran fully participate in any cut.

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Shell Canada President Michael Crothers says Canada should stick to its values

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Shell Canada President Michael Crothers (above) says “Canada should stick to its values and do something to protect the environment, regardless of what policy tack the incoming U.S. president takes.”

See CBC News article: Canada shouldn’t lose resolve for a carbon tax, says Shell exec (Published 29 November 2016)

This is the most breathtaking hypocrisy on the part of Shell and Mr. Crothers.

Shell is responsible for nightmarish pollution of the Niger Delta in Nigeria. It has already settled related litigation and more is underway:

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Pleased to assist Leigh Day in Suing Shell says John Donovan

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The High Court in London today began hearing the latest case against Royal Dutch Shell brought by the London law firm Leigh Day on behalf of Nigerian claimants.

Thousands of farmers and fishermen located in the Niger River Delta region who have suffered from oil spills and related toxic pollution. 

Leigh Day approached me last year making “an impassioned appeal” for my help, after first contacting me via Greenpeace.

This is not an unusual occurrence. Many parties contemplating or involved in litigation against Shell contact me after becoming aware of my Shell related website activities and a decades-long history of dealing with Shell, including its army of lawyers (over a thousand) and spooks (Shell Global Security and their external spy firm Hakluyt).

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Shell seeks to block Nigeria pollution claims in London court

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By AFPPUBLISHED: 18:20, 22 November 2016

Anglo-Dutch oil giant Shell on Tuesday urged a High Court judge in Britain to block pollution claims brought against it by more than 40,000 Nigerians, demanding the case be heard in Nigeria instead.

Lawyers for the claimants are demanding action from Shell to clean up oil spills that have devastated their Niger Delta communities for decades.

But Royal Dutch Shell lawyer Peter Goldsmith told High Court of England and Wales judge Peter Fraser that the cases concerned “fundamentally Nigerian issues”, and shouldn’t be heard in London.

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Polluted water in hand, Nigerian king takes Shell to court in London

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By Editor   |   22 November 2016  

King Emere Godwin Bebe Okpabi holds up a plastic bottle containing contaminated water from his community in Nigeria, proof of oil pollution that he blames on Royal Dutch Shell — and on which he hopes a London court will deliver justice.

“My people are drinking this water,” said the tribal king of the Ogale community in the oil-rich Niger Delta.

Okpabi has flown to London for a High Court hearing on Tuesday in which lawyers for more than 40,000 Nigerians are demanding action from Shell to clean up oil spills that have devastated their communities for decades.

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Nigerian farmers, fishermen sue Shell in UK over pollution

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screen-shot-2016-11-08-at-20-51-26By ASSOCIATED PRESS22 November 2016 

LONDON (AP) — Emere Godwin Bebe Okpabi, leader of Nigeria’s Ogale people, unpacked four bottles of water from his homeland and lined them up on a table to show why his subjects are suing Royal Dutch Shell in a London court.

The Nigerian water is contaminated with oil and cancer-causing compounds such as benzene. It’s what his people drink every day.

Britain’s High Court will begin hearing lawsuits on Tuesday filed by the Ogale and Bille people alleging that decades of oil spills have fouled the water and destroyed the lives of thousands of fishermen and farmers in the Niger River Delta, where a Shell subsidiary has operated since the 1950s. They brought their fight to Shell’s home base because they say the Nigerian courts are too corrupt.

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Villagers take Shell to High Court over Niger oil spills

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The cases are being brought by Leigh Day, which was previously successful in agreeing a £55 million compensation package with Shell to another Nigerian community: GEORGE ESIRI/REUTERS

Neil Johnston: November 21, 2016

A legal battle between Shell and two Nigerian communities who claim that the company caused repeated oil spills will reach the High Court this week.

Tomorrow a four-day hearing will begin to decide whether British courts can hear the legal claims on behalf of 40,000 Nigerians against the oil giant and a subsidiary which operated in the Niger Delta.

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Legal claim brought against Shell for alleged environmental damage in Nigeria could open floodgates

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screen-shot-2016-11-09-at-19-58-01By CITY & FINANCE REPORTER FOR THE DAILY MAILPUBLISHED: 21:51, 20 November 2016 

A legal claim brought against Royal Dutch Shell for alleged environmental damage in Nigeria could open the floodgates to more multinational firms being pursued in UK courts.

Two communities are seeking £100m in compensation from the oil giant and its Nigerian subsidiary after suffering repeated oil spills.

A four-day hearing this week will decide whether the case against Shell should be heard in London, where the company is incorporated, or Nigeria. Lawyers representing the communities claim the Nigerian legal system is too uncertain to deliver justice.

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Shell fights lawsuits over Nigeria environmental record

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screen-shot-2016-11-19-at-17-13-56SARAH KENT: November 21, 2016

Royal Dutch Shell is fighting lawsuits this week in London and The Netherlands over its environmental record in Nigeria, highlighting the quagmire of problems the energy company faces there as it tries to pivot away from the West African nation.

The oil-rich Niger Delta has generated billions of dollars for Shell over the past 60 years, but the company’s operations have been plagued by sabotage, theft and oil spills that ravaged the local environment.

Though Nigeria was one of its most prolific regions for crude production in 2015, Shell has sold off tracts of onshore oilfields. Its new focus — sealed with the mammoth $US50 billion acquisition of BG Group this year — is deepwater wells off the coasts of the US and Brazil and a historic shift toward natural gas that puts it at the forefront of oil companies offering a more climate-friendly image to investors.

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Shell case may launch wave of lawsuits

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By Emily Gosden, energy editor: 19 NOVEMBER 2016 

Royal Dutch Shell is facing a High Court battle over alleged environmental damage from its oil pipelines in Nigeria, in a test case that could open the floodgates to more multinationals being sued in London courts.

The oil giant and its subsidiary, the Shell Petroleum Development Company of Nigeria (SPDC), are both being sued by two Nigerian communities, who are seeking about £100m in compensation after suffering repeated oil spills they claim came from SPDC pipelines in the Niger Delta.

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Another Nigerian oil scam

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$15b Indian loan: Little meat in the bone

By Sonny Atumah

It  appears the proposed Nigeria US$15 billion facility from India may be a loansharking. The loan would be repaid with long term contract to supply crude oil to Indian Public Sector Undertakings, PSU (government owned corporations) that are mostly engaged in refining of petroleum products and in petrochemicals. The deal may also be in refining, executing City Gas Distribution, CGD, and Liquefied Petroleum Gas, LPG infrastructure projects by Indian PSUs.

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu with his Indian counterpart in charge of Petroleum and Natural Gas, Shri Dharmendra Pradhan are putting thoughts on paper in a memorandum of understanding, MOU to be firmed up at the PETROTECH 2016, the 12th biennial International Oil and Gas Conference and Exhibition at the Vigyan Bhavan in the Indian National Capital Territory, Delhi from December 5-7, 2016.

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Shell Fights Lawsuits Over Environmental Record in Nigeria

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By SARAH KENT: Nov. 19, 2016 7:00 a.m. ET

LONDON— Royal Dutch Shell PLC is fighting lawsuits this coming week in London and the Netherlands over its environmental record in Nigeria, highlighting the quagmire of problems the energy company faces there as it tries to pivot away from the West African nation.

The oil-rich Niger Delta has generated billions of dollars for Shell over the past 60 years, but the company’s operations have been plagued by sabotage, theft and oil spills that ravaged the local environment.

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Nigeria reaches a deal to pay $5.1 billion in unpaid bills to oil majors – minister

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By Felix Onuah

Nov 17 Nigeria has reached a deal to pay $5.1 billion in unpaid bills to oil majors including Royal Dutch Shell and Exxon Mobil, the minister of state for oil said on Thursday.

The Nigerian National Petroleum Corporation (NNPC), the OPEC member’s state oil firm, has amassed a total of $6.8 billion in unpaid bills up to December 2015, so-called cash calls, that it was obliged to pay under joint ventures with Western oil firms, with which it explores for and produces oil.

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Nigeria Reaches $5.1 Billion Debt Settlement With Oil Majors

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By Elisha Bala-Gbogbo and Rakteem Katakey: November 17, 2016

Nigeria reached a $5.1 billion settlement to reimburse foreign oil companies including Exxon Mobil Corp. and Royal Dutch Shell Plc for past operating costs.

The amount, less than the $6.8 billion previously discussed, will be settled through crude-oil sales over five years and will be interest free, Petroleum Minister Emmanuel Kachikwu told reporters in the capital, Abuja, Thursday.

“What we have been able to put together has enabled us to shave about $1.7 billion in savings for the federal government from the $6.8 billion that was owed,” he said. “The barrels to pay those will come from incremental barrels generated by the oil companies, not from the current 2.2 million-barrel-a-day production.

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40,000 Nigerians take Shell to UK court over oil spills

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Online Editor: November 16, 2016

UK based oil firm, Shell, is facing fresh environmental claims in a London high court from two Nigerian communities who have suffered pollution episodes following repeated large scale oil spills from the oil giant’s pipelines in the Niger Delta.  

This is according to a statement released Tuesday by Leigh Day, a London based law firm, which was signed by David Standard, its head of media relations.

The two separate legal actions are being brought by law firm Leigh Day who represented the Bodo Community against Shell in an unprecedented environmental claim resulting in Shell agreeing to pay compensation package of £55million to the Community and 15,600 Nigerian fishermen whose livelihoods had been destroyed by Shell’s oil pollution.   

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21st Anniversary Commemoration of Ogoni Martyrs

screen-shot-2016-10-19-at-10-26-17Text of a Statement By Legborsi Saro Pyagbara, President of MOSOP,  on the Occasion of the Memorial Service held  on November 11, 2016, in Bane, Ogoniland, for the 21st Anniversary Commemoration of Ogoni Martyrs and the passing away of Ken Wiwa Jr.

On 10th November 1995, the Ogoni nation suffered a devastating blow. The Nigeria government and Shell murdered nine Ogoni sons in cold blood for standing up for the truth and for justice. That action routed the world to see things for the first time in the way that we saw things. That singular action exposed the deep abyss of bestiality and brigandage in which Nigeria had sunk. That action signaled to the world that groups like the Ogoni people are imperiled and may not get justice, dignity and any sense of decency in this country called Nigeria. It demonstrated that the Nigeria system was not working for most of its people.

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Nigerian militants blow up Shell oil export pipeline _ again

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screen-shot-2016-10-20-at-23-00-27Published November 09, 2016 Associated Press

WARRI, Nigeria –  Nigerian militants say they have again blown up an oil pipeline carrying crude for export from Shell’s Forcados terminal in the country’s south. It’s the third attack in eight days on the Trans Forcados pipeline network.

The first came just hours after President Muhammadu Buhari held inconclusive talks with stakeholders aimed at halting the sabotage. Militants and community leaders want development and a bigger share of revenues from oil that has massively polluted the southern Niger Delta.

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Shell says flow station on Nigerian Escravos oil line shut by protesters

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Activists in Port Harcourt, Nigeria protest to demand that Shell pay reparations and clean up its oil spills. Photo: © Amnesty International.

By Anamesere Igboeroteonwu and Libby George: Wednesday, 9 November 2016 15:57 GMT

ONITSHA/LONDON, Nigeria, Nov 9 (Reuters) – Royal Dutch Shell has shut down an Escravos crude oil flow station in Nigeria’s Niger Delta after villagers demanding aid staged a protest, the firm and residents said on Wednesday.

The oil major said the flow station on the pipeline operated by its joint-venture partner SPDC was no longer processing crude oil, but the impact on Escravos exports, which can run via other avenues, was not immediately clear.

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Shell says checking claim by Nigerian protesters of Escravos facility shutdown

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Screen Shot 2016-09-07 at 14.26.24Wed Nov 9, 2016 10:56am GMT

LAGOS Nov 9 (Reuters) – Royal Dutch Shell said on Wednesday it was checking a claim by a group of Nigerian protesters that they had shut down an Escravos oil facility in the Niger Delta operated by its joint-venture partner SPDC.

Shyne Edema, a youth leader in the restive region, said earlier his group was staging a protest at the facility, shutting down power and water supplies as well as crude production.

(Reporting by Libby George, Ananamesere Igboeroteonwu, Ulf Laessing and Alexis Akwagyiram; Editing by Adrian Croft)

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Ogoni monarch fingers Shell contractors as pipeline vandals

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By Austin Oyibode: 8 November 2016

Against the wide held view that youths of the Niger Delta are the arrow head of pipeline vandalism in the region, Chairman of Ogoni Traditional Rulers Council, HRM Timothy Suanu Bari Dam, has revealed that the contractors of Shell are the mastermind behind the massive destruction of pipelines in the devastated region.

Chief Bari Dam told NAIJ.com in Port Harcourt that he had personally confronted Shell in a recent meeting with company officials where he told them that contractors working for the oil firm and their close allies are the evil workers destroying the pipelines but leveling blame on youths of the Niger Delta. He said “I was in a stakeholders meeting with Shell and I told them that many of the pipeline vandalisation that is going on in Ogoni land is caused by them and their contractors. Those contracts are given to crooks, they pay money to some people and they allow the destructions go unhindered.

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FT: Western oil companies reach $5B deal with Nigeria

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Nov. 8, 2016 10:23 AM ET|By: Carl Surran, SA News Editor

Nigeria’s government has reached an outline settlement to resolve a dispute with western energy firms that would pay the companies $5B to cover exploration and production joint venture costs in the country, Financial Times reports.

Nigeria’s petroleum minister tells FT that Royal Dutch Shell (RDS.A, RDS.B), ExxonMobil (NYSE:XOM), Eni (NYSE:E), Chevron (NYSE:CVX) and Total (NYSE:TOT) accepted the settlement of costs incurred during 2010-15, and hopes a deal can be finalized by year-end.

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Western oil companies reach $5bn deal with Nigeria

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by: Anjli Raval and Maggie Fick in Lagos

Emmanuel Ibe Kachikwu, Nigeria’s minister of state for petroleum resources, told the Financial Times the settlement had been “accepted” by the five companies. It is hoped the deal can be finalised before the end of the year.

FULL FT ARTICLE

Hold the champagne

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screen-shot-2016-11-03-at-14-50-16By Ed Crooks, November 4, 2016

If you are looking forward to the oil industry recovery, you shouldn’t break out the champagne just yet.

Over the past eight days, the world’s largest listed oil companies have released third quarter earnings reports. From all of them, the message was that while the worst might be over, they were still facing a long hard road ahead.

The snap reactions from the stock market were mixed: positive for  ChevronRoyal Dutch ShellTotal and ConocoPhillips; negative for ExxonMobilBPEniStatoilPetrochina and Cnooc.

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Exclusive: Saudis threaten to raise oil output again as sparring with Iran returns

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By Rania El Gamal and Alex Lawler | DUBAI/LONDON

Old disputes between Saudi Arabia and rival Iran resurfaced at a meeting of OPEC experts last week, with Riyadh threatening to raise oil output steeply to bring prices down if Tehran refuses to limit its supply, OPEC sources say.

Clashes between the two OPEC heavyweights, which are fighting proxy wars in Syria and Yemen, have become frequent in recent years.

Tensions subsided, however, in recent months after Saudi Arabia agreed to support a global oil supply limiting pact, thus raising the prospect that OPEC would take steps to boost oil prices.

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Militants Attack Nigeria’s Trans Forcados Pipeline, Again

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By Tsvetana Paraskova – Nov 02, 2016, 3:15 PM CDT

Just two days after the Nigeria’s state-owned Trans Forcados oil pipeline resumed operations following an attack in July, militants hit the pipeline again late on Tuesday, a community leader said on Wednesday.

No group has yet claimed responsibility for the attack on the pipeline which carries crude oil and gas to the 400,000-bpd Forcados export terminal owned by Royal Dutch Shell (NYSE:RDS.A).

The attack led to a “massive spill, flooding a creek knee-deep in crude,” the Associated Press quoted Batan community leader Dickson Ogugu as saying.

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Hearing on Royal Dutch Shell: Committee Room 1, House of Commons Wednesday 2 November 2016

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screen-shot-2016-10-19-at-10-26-17HEARING IN THE HOUSE OF COMMONS WEDNESDAY 2nd NOVEMBER 2016

EXTRACTS FROM A CONFIDENTIAL EMAIL

Subject: JCHR: Claimant in case against Shell to detail experiences in human rights and business inquiry 

More here including House of Commons Library briefings

Watch live here 

Claimant in human rights case against Shell to detail experiences in human rights and business inquiry 

The Joint Committee on Human Rights continue their inquiry into human rights and business on Wednesday 2 November when they hear from John Gbei via video-link from Nigeria. 

Mr Gbei, and members of the Bodo Community in Nigeria, filed a successful lawsuit against Shell in London High Court for two oil spills which occurred in the Niger Delta in 2008 and 2009. The case resulted in an award of £55million; Shell having originally offered compensation of £4,000. 

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The Niger Delta Avengers are back — and they’ve got big oil in their crosshairs

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Tom DiChristopher: 26 Oct 2016

The Niger Delta Avengers resumed their campaign of sabotage on Tuesday, potentially kicking off a return to the serial bombings the militant group carried out earlier this year.

Those attacks sent Nigerian crude output to a more than decade-low and deepened an economic crisis in the Western African nation brought on by persistently low oil prices. Analysts say the government has been slow to advance a coherent response, and in the absence of an effective strategy, the conflict will likely escalate, putting Nigeria’s recovery in question and global oil supply at risk.

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Shell threatened with Dutch lawsuit over activist’s death in Nigeria

screen-shot-2016-10-26-at-17-50-47By Kathryn Higgins: 26 Oct 2016

Esther Kiobel has accused Shell of being complicit in the murder of her husband, anti-oil activist Barinem Kiobel who was executed by the Nigerian military in 1995. Court documents filed in New York last week show that Ms Kiobel plans to commence legal action against the company before the end of this year, with Shell’s home country the Netherlands the most likely setting for the legal showdown. The application in New York is an attempt to secure key documents from Shell’s lawyers that could be of use in the Dutch action.

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Shell To Resume Exports From Terminal Attacked By Militants

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By Erwin Cifuentes – Oct 25, 2016, 5:26 PM CDT

The Nigerian presidency on Tuesday issued a statement affirming that Royal Dutch Shell will resume exports from the Forcados terminal in the Niger Delta region.

“The Shell Director, Mr. Andrew Brown, informed the President of the resumption of oil exportation through the Forcados terminal following its restoration,” the Nigerian presidency said following a meeting between Brown and President Muhammadu Buhari.

Operations at Forcados had been halted after an attack last February against the facility attributed to the Niger Delta Avengers (NDA). Some 250,000 to 300,000 barrels of crude were produced prior to the assault.

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Shell resumes crude exports from Nigeria’s Forcados terminal-Nigerian government

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by Reuters: Tuesday, 25 October 2016 18:42 GMT

By Felix Onuah

ABUJA, Oct 25 (Reuters) – Royal Dutch Shell has resumed crude exports from the Forcados terminal in Nigeria’s restive Niger Delta following repairs after a militant attack, the Nigerian presidency said on Tuesday.

There was no immediate comment from Shell.

“The Shell Director, Mr. Andrew Brown, informed the President of the resumption of oil exportation through the Forcados terminal following its restoration,” the presidency said after a meeting between Brown and President Muhammadu Buhari.

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Royal Dutch conspired with the Nigerian government

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Esther Kiobel filed a briefin the Southern District of New York on October 12 seeking permission to issue subpoenas against Cravath, Swaine & Moore. The request was for the production of documents for a lawsuit expected to be filed in the Netherlands. The lawsuit is connected to a previous case in which Kiobel was a lead plaintiff, Kiobel v. Royal Dutch Petroleum. In this case, Kiobel alleged human rights and civil liberty violations against the oil and gas giant’s operations in Nigeria’s Ogoni region. The Dutch case, expected to be filed in late 2016, intends to allege that Royal Dutch conspired with the Nigerian government to commit human rights violations against the Ogoni people. Cravath represented Royal Dutch in the U.S lawsuits and this application intends to obtain the discovery from those cases.

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Malabu malady

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Extracts from “screen-shot-2016-10-24-at-13-41-15Malabu malady”

October 24, 2016

Dan Etete was the miserable fellow who as Minister of Petroleum Resources under the late junta Gen. Sani Abacha in 1998 awarded this massive oil block to his firm, Malabu Oil and Gas. But he was not alone, he had numerous other cronies, including Abacha’s son.

Shell Petroleum Development Company is the conniver-in-chief and perhaps the lead player in this graft theatre.

Today, a committee of the House of Representatives is reviewing the Malabu malfeasance. But Mr. Abubakar Malami, the Minister of Justice and Attorney-General of the Federation, says the matter is too complex if not confusing for his office to understand.

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Court fixes date for FG’s suit against Shell over $406.7m crude oil theft

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Court fixes date for FG’s suit against Shell over $406.7m crude oil theft

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By NAN   |   20 October 2016   |   11:36 am

A Federal High Court in Lagos on Thursday fixed Dec. 8 for the hearing of a suit filed by the Federal Government against Shell Western Supply & Trading Ltd over alleged 406. 75 million crude oil theft.

The suit no. FHC/L/CS/336/16 was filed by FG’s Counsel, Prof. Fabian Ajogwu (SAN) before Justice Mojisola Olatoregun.

Defendants in the suit are Shell Petroleum Development Company of Nigeria Ltd and its subsidiary — Shell Western Supply & Trading Ltd.

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Son of Nigeria’s Ken Saro-Wiwa dies

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screen-shot-2016-10-19-at-10-26-1719 October 2016

The son of renowned Nigerian environmental activist Ken Saro-Wiwa, who was executed more than 20 years ago, has died in London.

Ken Saro-Wiwa Jr, 47, passed away after suffering a stroke, his family say.

He was a journalist who became a presidential adviser.

The 1995 execution of his father by a military government for leading protests against environmental degradation caused by the oil industry sparked global outrage.

Saro-Wiwa Sr led the Movement for the Survival of the Ogoni People (Mosop), which accused oil multinational Shell of destroying the environment in his home region of Ogoniland in south-eastern Nigeria.

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Esther Kiobel Torture Case Against Shell Returns to NYC: John Donovan’s role

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US COURT DOCUMENT FILED 12 OCTOBER 2016

Published Friday 14 October 2016.

MANHATTAN (CN) — Dusting off Supreme Court defeat following one of biggest human-rights battles in decades, a Nigerian woman accusing Royal Dutch Shell of conspiring to torture environmental activists in her homeland returned to New York to prepare for new litigation in the Netherlands.

Esther Kiobel filed her latest lawsuit in Manhattan Federal Court on Wednesday, seeking information to take on the oil giant near its international headquarters.

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Shell faces possible Dutch lawsuit over Nigerian activist’s execution

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By Tom Bergin | LONDON

The widow of a Nigerian activist is planning to sue Royal Dutch Shell in the Dutch courts alleging the oil company was complicit in the execution of her husband by the Nigerian military in 1995, court documents filed in the United States last week show.

Esther Kiobel has filed an application in New York to secure documents from Shell’s U.S. lawyers, which she could use in the Dutch action.

The filings with the U.S. District Court for the Southern District Court of New York said she planned to begin that action before the end of the year.

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Nigeria: U.S.$1.1 Billion Malabu Oil Deal – Investigations Are Ongoing, Says AGF

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By Damilola Oyedele: 14 October 2016

Abuja — The Attorney General of the Federation, Mr. Abubakar Malami, has said investigations are still ongoing into the controversial $1.1 billion award of Oil Prospecting Licence 245, also know as the Malabu oil deal, with no conclusive position by the federal government.

Malami said this yesterday when he appeared before the House of Representatives ad hoc committee mandated to re-open investigations into the sale of the controversial oil block, where he added that the government would not take a position until all complexities in the deal are resolved.

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Outlook For Shell Mixed – Caution Ahead

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Gary Bourgeault: October 7, 2016

Summary

  • Debt load associated with BG Group acquisition still weighs heavily on Shell.
  • With a larger percentage of its business gas, it continues to struggle to sustainably break the $3 barrier.
  • EPS will probably drop by over 40 percent for the year.
  • Nigerian asset sales and risks to other holdings in the nation remain a concern.
  • Dividend could remain at current level if the price of oil and gas maintain a higher bottom.

Royal Dutch Shell plc (NYSE:RDS.A) has been taking some good steps to prepare for what it believes will be a strong future for LNG demand, as it puts various pieces of its infrastructure in place around the world. It has the goal of continuing to focus primarily on gas as its major product, looking for a time when it sustainably rebounds in price.

The long term prospects for Shell look fairly solid, but it does face some significant headwinds in the short term, including the debt overhang coming from its acquisition of BG Group, downward pressure on earnings per share (NYSEARCA:EPS), prolonged period of lower natural gas prices, and the loss of revenue from asset sales in Nigeria, along with the risk in the country for other projects it still has there.

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Now could be the perfect time to sell Royal Dutch Shell plc

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By Royston Wild – Friday, 7 October, 2016

Stakeholders in fossil fuel goliath Royal Dutch Shell (LSE: RDSB) could be forgiven for breaking out the bubbly following the company’s recent share price detonation.

Shell saw its value gallop 28% higher during the third quarter, and the firm’s meteoric ascent may not be finished yet — indeed, the stock is within striking distance of July’s quarterly peak of £21.48 per share, the loftiest level since May 2015.

But while many momentum investors may be tempted to plough in, I reckon now could provide a terrific opportunity for investors to cash out.

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In merry-go-round, Nigerian parliament commences fresh inquiry into Malabu oil deal

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October 6, 2016Samuel Ogundipe

Members of Nigeria’s House of Representatives panel investigating the controversial Malabu oil deal on Wednesday expressed strong reservations about the attitude of firms caught in the scandal.

The House in January 2016 set up another ad-hoc committee to look into allegations of financial crimes in the lease of OPL 245 oil block in Nigerian waters.

A former Minister of Petroleum, Dan Etete, awarded the lease of OPL 245 in April 1998 to Malabu Oil and Gas Ltd., a firm later traced to him.

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How Shell duped Nigeria of $406.75 million – FG

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4 October 2016: Agency Report

The Federal Government is demanding $406.75 million from Shell Petroleum Development Company of Nigeria Limited and its subsidiary, Shell Western Supply & Trading Limited, over alleged crude oil theft.

The amount, according to court documents presented in Lagos on Tuesday, represents the shortfall of the money the multinational oil firm paid into the Federal Government account with Central Bank of Nigeria.

The money was said to be for crude oil lifted in 2013 and 2014.

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Nigerian Militants Are Getting Ready to Strike Oil Again

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By Elisha Bala-Gbogbo: October 4, 2016

If the Nigerian government wants to fight militants blowing up oil pipelines, it should send troops into the creeks and mangrove swamps of the Niger River delta. Not the city.

That’s the suggestion of Babalola Olarewaju, a taxi driver who plies the airport route in Port Harcourt, the largest city in the restive oil-rich region.

“We’re talking about people who blow up pipelines in the night and then disappear,” said Olarewaju, 41, as he perched on the hood of his rickety cab outside the Le Meridien Hotel in the city center, referring to three T-72 tanks, Nigeria’s main battle tank, parked about a mile away. “What has a tank got to do here in the city?”

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Uncertainty persists over reopening of Forcados oil terminal

Punch: Uncertainty persists over reopening of Forcados oil terminal

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2 October 2016

More than seven months after it was shut down, the Forcados export terminal remains offline, with the operator, Shell Petroleum Development Corporation, saying it cannot tell when it will be reopened.

September 21, 2016 marked exactly seven months that Shell declared force majeure on the export of Forcados, one of Nigeria’s largest crude oil grades.

The force majeure, a legal clause that allows it to stop shipments without breaching contracts, came a week after the Forcados export line was attacked by militants in the Niger Delta.

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Nasdaq: Shell Shuts Down Nigerian Oil Pipeline Post Fire Outbreak

cropped-Screen-Shot-2016-09-09-at-20.58.10.jpgNasdaq: Shell Shuts Down Nigerian Oil Pipeline Post Fire Outbreak

September 30, 2016, 09:45:00 AM EDT By Zacks Equity Research

Integrated energy major Royal Dutch Shell plc’s RDS.A Nigerian division, Shell Petroleum Development Company, has shut down its Trans Niger Pipeline at Gio in Ogoni due to a recent fire. This pipeline feeds into Nigeria’s strategic Bonny Export Terminal.

Predictably, the commodity price slump has adversely affected Shell’s financials, particularly at its upstream unit. Furthermore, Shell’s revenues, earnings and cash flow have been significantly hurt by weak natural gas prices . Attacks on the company’s local establishments by the Nigerian militants have added to its woes.

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Introduction

screen-shot-2016-10-24-at-14-26-11EBOOK BY JOHN DONOVAN: SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL

INTRODUCTION

SUMMARY OF MAIN CONTENT

  • In the years leading up to WW2, the Dutch founder of the Royal Dutch Shell Group, Sir Henri Deterding became an ardent Nazi. He financially backed the Third Reich and met directly with Hitler on behalf of Royal Dutch Shell. 
  • As a major financial contributor to Nazi Germany in pre-WW2 years, the Royal Dutch Shell Group, under Dutch leadership, arguably had some indirect responsibility for the death toll in the subsequent war, in which over 50 million people perished.

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  • Shell publicly boasted at the time about the importance of its financial contribution to the German economy. The claims were made by Shell in Germany while the country was under Nazi control.
  • In years leading up to WW2, Shell conspired with partners, Standard Oil, and German chemical giant I.G. Farben, to covertly import oil products, including airplane fuel, from the US into Nazi Germany. The US government was kept in the dark.
  • I.G. Farben supplied the Zyklon-B gas used in the Holocaust to kill millions of people.
  • The portrayal in 2007 by Shell’s paid historians of a distant relationship between Deterding and Hitler, in which all attempts by Deterding to meet with Hitler were rebuffed is simply untrue.
  • In fact, their meetings included a four-day one-on-one summit held at Hitler’s mountain retreat, as reported by Reuters in 1934.
  • Deterding has been described by independent authors as “a hardline Nazi revered and ultimately mourned by Hitler.” That description is confirmed by the evidence within this book and evidence accessible via links.

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  • There are credible allegations that the Royal Dutch Shell Group, under the control of Dutch directors, used forced labor at its German subsidiary, Rhenania-Ossag. Many of its directors and staff were fanatical Nazis.
  • Royal Dutch Shell collaborated in the annexation and occupation of sovereign countries by the Nazis – Austria and Czechoslovakia – before the outbreak of WW2.
  • The donations and financial contributions to the Third Reich were all carried out under the control of Dutch directors of companies within the Royal Dutch Shell Group.
  • In 1936, while still a director of multiple Royal Dutch Shell group companies, Sir Henri purchased the Castle Dobbin estate North of Berlin for 1,050,000 Reich marks from Queen Wilhelmina of the Netherlands.

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  • Deterding moved into Castle Dobbin with his young German wife, Charlotte-Minna Knaack, his secretary, a fanatical Nazi said by one source to be a former private secretary of Hitler’s.
  • Sir Henri’s friend Hermann Göring, the founder of the Gestapo, regularly visited Castle Dobbin to go hunting with him. Deterding generously gave Göring the Rominten Hunting Lodge in East Prussia as a spectacular gift. Kaiser Wilhelm II once owned it.
  • In 1936 and 1937, Sir Henri – while still a director of multiple companies within the Royal Dutch Shell Group, in which he held a controlling interest – made huge donations of food (“millions of tonnes”) to Nazi Germany as part of the “Winter Help” scheme. A New York Times report in June 1937 (“Deterding to Distribute More Food in Germany”) specifically linked the food donations to Germany’s rearmament policy.
  • The massive donations enabled significant funds to be diverted at a time when the Nazi regime was engaged in urgent rearmament of its military might.
  • Seven thousand railway wagons were used in the first immense delivery.” 
  • Deterding died just before the outbreak of WW2. He was honored by a Nazi ceremonial funeral at Castle Dobbin in February 1939. It was attended by a full contingent of Royal Dutch Shell Group directors mingling with Nazi military officers.
  • A glowing tribute to Sir Henri on behalf of the German nation was inscribed on a wreath sent by Adolf Hitler. 
  • The Bishop who conducted the funeral service was a  supporter of Hitler and a rabid anti-Semite.
  • Film footage of the Nazi funeral spectacular exists.
  • Fears that the Nazis intended to exploit the death of Sir Henri, just before the start of WW2, to seize control of the Royal Dutch Shell Group, were well founded.  The UK National Archives has kindly given permission for related documents and correspondence to be featured within this book.
  • Dutch directors of the Royal Dutch Shell Group engaged in anti-Semitic policies against Shell employees and were also guilty of collaboration and appeasement.
  • Royal Dutch Shell employees in the Netherlands were instructed to complete a form that for some amounted to a self-declared death warrant. Many did not survive the war.
  • The Nazis did succeed in gaining control over Dobbin Castle.
  • In the latter part of WW2, Field Marshal Wilhelm Keitel, SS leader Heinrich Himmler and General Alfred Jodl, Chief of the Operations Staff of the Armed Forces High Command, were all stationed at Dobbin Castle.

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  • Hitler’s final despairing message from his Berlin bunker, a day before he committed suicide, was sent to Field Marshal Keitel at Dobbin Castle, whilst it was still owned by the Deterding family. Strangely, that somehow seems appropriate.
  • Evidence was on display at Castle Dobbin, signed by Hitler, confirming Deterding’s financial support for the Nazis. Also a personal testimony by Herman Göring acknowledging the generosity of his friend and benefactor, Sir Henri Deterding.

DETERDING’S PALATIAL UK RESIDENCES

Kelling Hall, in Holt, Norfolk, shown center, was one of Deterding’s palatial UK residences. It is located near the Sandringham estate of the British royal family.

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Built for Sir Henri in 1913, in grounds of 1,600 acres, the property was sold in 2008 by his grandson James Deterding for £25 million (over $37 million USD).

Deterding at various times owned a Dutch estate in Wassenaar near the Hague, a grand country home in Buckhurst Park in Winkfield, near Ascot in Berkshire, a fashionable apartment in Park Lane, London, and a villa at St. Moritz in Switzerland.

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OPEC decision on daily oil output freeze to have no impact on Shell’s strategy Zoom

OPEC decision on daily oil output freeze to have no impact on Shell’s strategy

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September 29, 2016

Baku-APA. The Organization of the Petroleum Exporting Countries’ (OPEC) agreement to freeze daily oil output will not affect Royal Dutch Shell ‘s current strategy, a spokesman for one of the world’s largest oil companies told Sputnik on Thursday, APA reports quoting Sputnik.

On Wednesday, OPEC oil producing countries agreed a preliminary deal on the sidelines of an international energy forum in Algiers, Algeria. The output ceiling was set at 32.5-33 million barrels a day for the whole cartel. 

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Shell’s Growth Priority Over The Next Five Years — Deepwater

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Trefis Team SEP 29, 2016 @ 08:42 AM

With the ever-growing energy needs worldwide, the conventional sources of energy are likely to exhaust soon. Having explored the majority of the onshore reserves, oil and gas producers around the globe are now moving to offshore reserves, that are primarily formations in deep waters, containing thick layers of oil and gas in permeable rock. Consequently, Deepwater drilling, often used to categorize drilling in water depths of greater than around 400 meters, has become an attractive alternative to onshore drilling. In line with this growing trend, Royal Dutch Shell (NYSE:RDS.A) has categorized Deepwater as one of its growth priorities for the next five years. (Also Read: Shell’s Growth Priority Over The Next Five Years – Chemicals) In this note, we discuss the growth potential of the deepwater market, Shell’s positioning in this market, and its strategy going forward.

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Shell Shuts Down Bonny Light Pipeline

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cropped-Screen-Shot-2016-09-09-at-20.58.10.jpgBy Irina Slav – Sep 27, 2016, 10:05 AM CDT

Shell’s Nigerian division has shut down one of the two pipelines that carry Bonny light crude to its Forcados terminal in the Niger Delta, saying a fire was detected “on the right of way” of the pipeline. The shutdown will take 180,000 bpd off Shell’s Nigerian exports.

At the same time, the company continues to refuse to confirm or deny an announcement from the Niger Delta Avengers from Saturday that they’d blown up a Bonny Light pipeline. Shell has two pipelines bringing crude of this blend to Forcados, and the fire was detected at the Trans Niger Pipeline. It remains unclear whether the fire is a consequence of the NDA attack or if the attack was on the other pipeline.

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