Top petrol chiefs held talks once a year: The whistleblower claimed the office was swept for bugs before the talks, lasting nearly two hours. He added: “The security around their meetings was incredible. There was lock-down. The whole floor was a no-go area for anyone else. “It was just the two of them — the [...]
Posts under ‘Oil’
Shell: oil market regulation will cost consumers
Royal Dutch Shell lobbied against proposed European rules designed to clamp down on commodity market abuse, arguing they would raise costs for consumers and increase market volatility. Shell argued strongly against elements of EC reforms to “strengthen the fight against market abuse across commodity and related derivative markets”. By Emily Gosden: 10:00PM BST [...]
Shell and BP bosses met secretly to fix oil prices?
The Sun newspaper alleges Shell boss Jeroen van der Veer secretly met Lord Browne of BP once a year to discuss oil prices. Perfectly matched pair to engage in some jiggery-pokery. By John Donovan The Sun newspaper alleges Shell boss Jeroen van der Veer secretly met Lord Browne of BP once a year to discuss [...]
Libor in a barrel
Oil markets fall under the suspicion of price-fixing on a global scale May 18th 2013 |From the print edition IT IS a lesson of the past five years that benchmarks in unregulated markets can fall victim to the incentives they create. Subprime mortgages bundled into securities often won high scores from ratings agencies that stood [...]
Senator calls for U.S. to join oil price probe
Kevin McCoy, USA TODAY4:43 p.m. EDT May 17, 2013 U.S. public concern over a European probe into possible oil price manipulation escalated Friday as the head of the Senate Committee on Energy and Natural Resources urged the Justice Department to join the investigation. The request from Sen. Ron Wyden, D-Ore., came after European Union investigators [...]
Platts in Lockdown as Investigators Continue Oil Probe
Published: Friday, 17 May 2013 | 3:54 AM ET European anti-trust investigators searched the offices of price agency Platts and at least one major oil company for a third day on Thursday, hunting for evidence of possible price manipulation on oil markets, witnesses said. Authorities raided the London bureau of Platts in Canary Wharf [...]
Shell to Start Iraq Oil Output Amid Plans for Saudi Investments
By Maher Chmaytelli and Nayla Razzouk: May 16, 2013 Royal Dutch Shell Plc (RDSA) will start producing crude at Iraq’s Majnoon oil field as early as next month and plans to increase energy investments in Saudi Arabia, its regional vice president said. Output from Majnoon, one of Iraq’s largest oil fields, will start “around mid-year” [...]
Oil companies face public and political backlash if found guilty
FINANCIAL TIMES By Guy Chazan: May 15, 2013 Big Oil is braced for a big backlash, as the industry faces what could be its own Libor moment. “…the allegations sparked a political firestorm… FULL ARTICLE
Price fixing is in the Shell DNA
With Royal Dutch Shell, price fixing is not a matter of conjecture, but normal operating procedure. Its in the company DNA. Shell has a disgraceful history of price fixing/cartel activity stretching back over a century, including a cartel operated with its Nazi partner, I.G. Farben, found guilty of war crimes. Shell’s history of market manipulation, [...]
BP and Shell raided in oil price-rigging investigation
The London offices of BP and Shell have been raided by European regulators investigating allegations they have “colluded” to rig oil prices for more than a decade. European commission carries out ‘unannounced inspections’ to investigate claims oilcompanies colluded to manipulate prices Rupert Neate and Terry Macalister guardian.co.uk, Tuesday 14 May 2013 19.29 BST The London [...]
BP and Royal Dutch Shell raided
BP and Royal Dutch Shell saw their offices raided today as the European Commission launched an investigation into oil price fixing. The Commission said it is concerned there has been collusion aimed at manipulating the prices of not only oil, but also petrol and biofuels. A bogus market? By This Is Money Reporter PUBLISHED: 16:58, 14 [...]
Shell Censorship
Our arch-critic, LondonLad, who has been posting comments on our Shell Blog for many years under his current or former alias, mostly highly critical of our articles, has stated: “I genuinely salute the Donovan’s for inserting comments on the Blog from the likes of myself.” Unlike Royal Dutch Shell, we are receptive to criticism. Sometimes [...]
Peace River residents raise a stink about Shell
10 May 2013 EDMONTON – Shell Canada has received regulatory approval to significantly increase bitumen production at an expanded plant near Peace River — an area where residents have raised a stink for three years about odours emanating from existing operations. FULL ARTICLE
When it comes to climate change, Shell is backing the wrong horse
Opinion: Shell, with its enthusiastic embrace of fracking, has a credibility problem ‘Shell faces up to climate change challenge” ran the headline in this paper last week. I wish it were true but the company has a credibility problem when it comes to the issue. It is betting everything on the presumption that we will [...]
Opponents of Oxford’s partnership with Shell
Shell’s research money is also buying legitimacy for its unconscionable activities globally. These include human rights abuses in the Niger delta, reckless drilling plans in the Arctic, fracking in South Africa, and carbon-intensive tar sands extraction that undermines indigenous rights in Canada. Thursday 9 May 2013 Today sees the launch of a new partnership between [...]
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