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Shell, Eni Could Face Massive Damages in Nigerian Corruption Case

CAIN BURDEAU: July 19, 2018

CASTELBUONO, Sicily (CN) – Nigeria could learn Friday at a court in Milan whether it can pursue damages against oil giants Shell and Eni in a sprawling international corruption case.

The trial centers on a $1.3 billion bribery deal Royal Dutch Shell Plc. and Italy-based Eni S.p.A. executives allegedly entered into in 2011 with Nigerian officials, including then-President Goodluck Jonathan, to purchase a much-coveted oil field off the coast of Nigeria.

In December 2017, Italian judges in Milan ordered the companies and a number of individuals, including top executives at Shell and Eni, to stand trial. The trial has been slow to unfold and remains in preliminary hearings. read more

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

Oil, Corruption, Nigeria and President Muhammadu Buhari

Shell CEO Ben van Beurden stands to the left of Nigerian President Muhammadu Buhari (the two people in the centre of the photo). 

By John Donovan

Nigerian President Muhammadu Buhari has just given oil giant Shell a nod for a new $5bn investment deal in a major Nigerian oil and gas project.

This was after being feted by Shell senior management during his just concluded 4 day visit to the Netherlands, which including a meeting with Royal Dutch Shell Plc Chief Executive Officer, Ben van Beurden.

AFP: Nigerian leader backs major Shell project on Dutch trip: 2018-07-19 17:07 read more

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

Not dead yet: Home of Brent crude gets new lease of life

Ron BoussoShadia Nasralla: JULY 18, 2018

LONDON (Reuters) – Oil giant BP’s Eastern Trough Area Project off the coast of Scotland wasn’t supposed to be viable beyond 2018. But government and industry working together have given ETAP a new lease of life that is being closely watched by countries and companies eyeing other ageing projects around the world. When ETAP was launched 20 years ago today, some experts predicted the UK sector of the North Sea would cease most production by 2030. FULL ARTICLE read more

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

MOSOP Condemn Shell, Nigerian Military Over Repression of Ogoni Farmers

MOSOP Condemn Shell, Nigerian Military Over Repression of Ogoni Farmers

The Movement for the Survival of the Ogoni People (MOSOP) wishes to strongly condemn the continual violation of the rights of the Ogoni people by Nigerian soldiers attached to the Shell Petroleum Development Company of Nigeria Limited (SPDC).

We are deeply saddened that the repression of our people continue unabated as soldiers attached to SPDC continue to harass our women and farmers and prevent them from accessing their farmlands, destroying crops and forcefully lay pipelines through Ogoni farms. read more

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

Chevron, Shell get first waivers to U.S. steel tariffs

By: , SA News Editor: 12 July 2018

  • The Trump administration has granted the oil and gas sector its first exclusions from a 25% tariff on steel imports, after agreeing with Chevron (NYSE:CVX) and Royal Dutch Shell (RDS.ARDS.B) that the specialty steel the companies were importing is not manufactured in the U.S.
  • The U.S. Commerce Department approved exclusions for 243 metric tons of steel casing and production tubing Shell said it would use when drilling wells in the Gulf of Mexico, and to CVX for 50 metric tons of corrosion resistant stainless steel tubing.
  • The exclusions mark a victory for the oil and gas industry, which is concerned that the tariffs could raise their costs; the Commerce Department has processed only 241 out of more than 20K steel tariff exclusion requests.
  • read more

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

    SHELL CONTINUES TO EVADE JUSTICE FOR COMPLICITY IN OGONI 9 MURDERS 

    Dr. Barinem Kiobel was one of the “Ogoni Nine” executed by a despotic Nigerian regime after a rigged trial. His widow, Esther Kiobel, holds Shell responsible for his murder on trumped-up charges and has been seeking justice for the last 22 years.

    By John Donovan

    Since 1996, various Kiobel family members have been pursuing litigation in the USA relating to Shell’s conduct in Nigeria. This fact is confirmed from the screenshot of listed court cases filed in the USA and blocked by Shell. Only one related application is still open and it is on the way to being closed as a result of a decision by a U.S. Appeals Court yesterday. The remaining case is described by the three Appeal Court judges as “extraordinary, and possibly unique.” read more

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

    Shell shuts down Norway’s Knarr oil and gas field due to strike

    REUTERS STAFF: 10 JULY 2018

    OSLO (Reuters) – Royal Dutch Shell (RDSa.L) is shutting down production at its Knarr field in the North Sea after workers walked out on strike on Tuesday, the company said.

    “As a result of the strike, Knarr is closing its production in the Norwegian North Sea,” said Shell spokeswoman Kitty Eide. “We started shutdown operations this morning and to complete them can take up to 36 hours. As soon as the strike is over, we will restart production. No other fields or platforms that we are operator of are affected by the strike.”

    Production at Knarr is 3,800 standard cubic metres of oil equivalents. It produces mostly oil, with some natural gas liquids and gas production.

    The partners in the Knarr field are Japan’s Idemitsu (5019.T), Wintershall [WINT.UL] and DEA, according to data from the Norwegian Petroleum Directorate. read more

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

    Big Oil’s Next Major Move

    By Tim Daiss – Jul 08, 2018, 10:00 AM CDT

    Several oil majors, including Royal Dutch Shell and BP, are boosting their share of natural gas output. A Bloomberg report said these two oil companies, by increasing gas production, are trimming the lead between them and ExxonMobil, the world’s largest publicly traded oil company. ExxonMobil has a current market cap of $348 bn, while Shell has market cap of $317 bn, and BP at $156 bn.

    BP expects by 2020 to produce about 60 percent gas and 40 percent oil, a reversal from 2014 when it was the opposite – a pivot that many other oil companies will likely follow. ExxonMobil for its part currently produces about 55 percent oil and 45 percent gas and remains the largest natural gas producer in the US. Shell’s acquisition of UK-based BG Group for $50 bn in 2016 boosted the share of natural gas to 50 percent of its global fossil fuels output and made it the world’s largest natural gas trader. read more

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

    Church of England to withdraw funds from polluting firms that fail to tackle climate change

    8 JULY 2018 • 7:00PM

    The Church of England is to withdraw funds from polluting firms that fail to tackle climate change.

    Companies including Shell and BP could face disinvestment from the church within five years if they do not fall in line with strict environmental measures.

    Its General Synod, meeting this weekend in York, voted to bring in the timetable to put more pressure on companies which fail to meet the aims of the Paris climate accords.

    The church pulled £12m in funds out of assets such as coal and tar sands oil following another Synod vote in 2015, but is still an investor in major fossil fuels companies.

    The church’s pension fund, worth £2bn, is understood to be in deficit, but a spokesman said it was on track to remove it.

    The decision came after the church was slammed by one of its bishops for failing to move with sufficient urgency. read more

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

    Millennials fight back against Shell’s attempt to woo them at ‘Make the Future’ festival

    Millennials fight back against Shell’s attempt to woo them at ‘Make the Future’ festival

    9th July 2018

    Climate activists staged an anti-greenwash dodgeball game outside Shell’s Make the Future festival at the Olympic Park, London, yesterday.

    They also invited young people to take photos with a poster pledging they wouldn’t not work for Shell while the company continues to invest in fossil fuels.

    Shell’s Olympic Park event is part of an international PR push under the banner of Make the Future banner, aimed at convincing young people that the oil industry is a desirable employer.

    Shale oil read more

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

    $US150 a barrel? Shareholder greed could make oil prices double

    By Ben Sharples: Bloomberg News: 7 July 2018

    Oil investors may regret urging companies to cough up cash now instead of investing in growth for later as the dearth of exploration is setting the stage for an unprecedented crude price spike, according to Sanford C. Bernstein.

    Companies have been compelled to focus on boosting returns and shareholder distributions at the expense of capital expenditures aimed at finding new supplies, analysts including Neil Beveridge wrote in a note on Friday. read more

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

    Shell must be bold to keep pace in brave new world

    The Sunday Telegraph: 8 JULY 2018

    A few months ago, Shell published a startling report on the future of the energy industry. Despite its dry title, the Energy Transition Report provided a scarcely believable vision of a world in 50 years that is recognisable from the one that seven billion of us occupy today, a planet that has been turned upside down by its very battle for survival. .

    Electricity is expected to surge from about 18pc to 40pc of global energy consumption in the next 20 years, and by 2050, every car on the road will be an electric one. read more

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

    SHELL IN OGONILAND: TORTURE AND ILL-TREATMENT

    Two Ogoni fishermen have described how they were arrested by members of the police unit seconded to guard Shell personnel and installations (known as the Supernumerary or SPY police) on 22 June 1994. In a letter faxed to journalists after their release
    from prison in October 1998, Kagbara Bassee and Blessing Israel said that the police arrested them at Benson Beach, Akwa Ibon State. They said that the police officers, who were accompanied by Shell staff, beat them with batons, knocking Blessing Israel unconscious.

    Extracts from pages 27, 28 & 29 of an Amnesty International document headed: “A CRIMINAL ENTERPRISE? SHELL’S INVOLVEMENT IN HUMAN RIGHTS VIOLATIONS IN NIGERIA IN THE 1990s”

    In July 1994, the Dutch ambassador told Shell Nigeria’s then chairperson Brian Anderson that the army had killed some 800 Ogonis.

    EXTRACT BEGINS

    TORTURE AND OTHER ILL-TREATMENT OF DETAINEES

    During this time, numerous people – mostly from Ogoniland – were detained and held in military-run camps and subjected to torture and other cruel, inhuman or degrading treatment. Many were arbitrarily arrested and detained without charge for varying periods in 1994 and 1995 at either Bori Military Camp, in Port Harcourt, or the military detention centre set up in what used to be the police station in Kpor, in Ogoniland.102

    Two environmentalists (Oronto Douglas and Nick Ashton-Jones) who went to visit Ledum Mitee, the MOSOP vice-president, in detention in the Bori Military Camp, on 26 June 1994, have described how they were detained, flogged and threatened with execution, on Paul Okuntimo’s orders.103 Nick Ashton-Jones described his experience: read more

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

    Shell CEO says ‘foolhardy’ to set carbon reduction targets

    Shell CEO says ‘foolhardy’ to set carbon reduction targets

    Ron Bousso: JULY 5, 2018

    LONDON (Reuters) – Royal Dutch Shell’s boss said it would be “foolhardy” for the oil and gas producer to set hard targets to reduce carbon emissions as it risked exposing the energy giant to legal challenges.

    The energy industry has struggled in recent years to find a clear path to secure its role as the world shifts from fossil fuels in order to meet the 2015 Paris climate agreement goals.

    Shell Chief Executive Officer Ben van Beurden last year set out ambitions last year to halve its carbon emissions by 2050, far exceeding rivals. But the Dutch CEO resisted calls by activists and some investors to set binding targets. read more

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

    Big Oil, Utilities are Lining Up for an Electric Vehicle War

    Big Oil, Utilities are Lining Up for an Electric Vehicle War

    By Kelly Gilblom and Anna Hirtenstein2 July 2018, 05:00 BST

    • BP and Shell have bought electric-car charging companies
    • Power utilities are boosting sales to homes, chargers on roads

    A red-hot electric vehicle market has triggered a face-off between Big Oil and utilities. Oil majors, who’ve sold fossil fuels to cars for a century, are now moving into an electricity sector that’s preparing for exponential growth. The problem is that utilities, the primary power suppliers for a century, have the same idea. BP Plc predicts electric vehicle sales will surge by an eye-watering 8,800 percent between 2017 and 2040, making it an attractive business for oil companies as demand for gasoline and diesel are forecast to slow. Big Oil will have to battle the traditional utilities for charging at people’s homes, on the road and even offices of green-car owners. FULL ARTICLE read more

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

    Royal Dutch Shell: Streamlining Assets

    Jun. 30, 2018 12:54 AM ET

    Summary

    • Renewal of assets with great focus on the future.
    • Natural gas as energy source will continue to grow.
    • Share buybacks and generous dividends.

    Background

    Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) has been actively focusing on what kind of business it wants to be involved in. Part of this activity is to change the composition of its assets. It has been selling plants and oil licenses, and invested where it wants to position the company.

    Disposals have also been done to reduce the total debt level. Much of the debt came from the $35 billion acquisition of BG Group back in March of 2016.

    Disposals

    Early this year, Shell communicated that its plans were to leave oil and gas operations in as many as 10 countries and instead focus more heavily on gas-rich Australia and shale opportunities in the United States. 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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