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Posts under ‘Peter Voser’

ROYAL DUTCH SHELL: Ice buckets, rust buckets and superbuckets

By John  Donovan

According to the the Vancouver Observer, Shell CEO Ben van Beurden, has accepted the ice bucket challenge from Leonardo DiCaprio to oil sands executives. 

The reputation of his predecessor as Shell CEO, Peter Voser, sunk after he faced and failed a challenge in the Arctic.

Voser came spectacularly unstuck as a result of sending a couple of refurbished old rust buckets into Alaskan waters in an ill-fated tax dodging scandal resulting in ship board fire, explosions, pollution, groundings and public humiliation. read more

Shell Profit Rises on Higher U.S. Oil and Gas Prices

Screen Shot 2014-02-10 at 16.29.29Extracts from a Bloomberg News article by Eduard Gismatullin published 31 July 2014

Royal Dutch Shell Plc (RDSA), Europe’s biggest oil company, said second-quarter earnings rose 33 percent on higher U.S. energy prices and increased production. Profit excluding one-time items and inventory changes gained to $6.1 billion from $4.6 billion a year earlier, The Hague-based Shell said today in a statement. Chief Executive Officer Ben van Beurden, who took over from Peter Voser at the start of the year, is accelerating asset sales and reviewing spending plans to win investor support. He needs a return to profit in the Americas’ operation, where the company is deploying about $80 billion. read more

ROYAL DUTCH SHELL PLC AND RUSSIA: BUSINESS AS USUAL

By John Donovan

Shell CEO Ben van Beurden was straightforward in what he publicly stated at the 2014 AGM of Royal Dutch Shell Plc. He said that Shell puts the interests of its shareholders first, above any geopolitical considerations. That is his excuse for Shell’s dealings with evil regimes in Iran and Russia, irrespective of sanctions. You can tell all you need to know about Ben’s priorities from his failure to sign the document “SHELL BUSINESS PRINCIPLES” – it is still signed by his predecessor Peter Voser, who abandoned ship long ago.  read more

OBJECTION TO MR. OSAGIE OKUNBOR AS MD/COUNTRY CHAIR OF SHELL (SPDC) NIGERIA

We consider it a very unwise move by Shell that Mr. Osagie Okunbor, who was said to be the former Vice President (VP) Human Resources, Shell (SPDC), is currently being considered/prepared to assume the position of the Managing Director (MD) and Country Chair of Shell (SPDC) Nigeria. We strongly advise that relevant authorities of Royal Dutch Shell and Shell (SPDC) Nigeria should give this issue raised the needed attention.

Mr. Osagie Okunbor is said to be on cross-posting to The Hague, in other for him to be ‘groomed’ to occupy the said exalted position and take over from Mr. Mutiu Sunmonu, who will soon go on retirement.

Motiva Port Arthur refinery reaches throughput milestone – sources

“If it had been built better, if it had been designed better, it could be running more crude…”

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Extracts from a Reuters article by Erwin Seba published by The Chicago Tribune on 3 July 2014

HOUSTON (Reuters) – The nation’s largest refinery hit a throughput milestone last week, processing 615,000 barrels in one day for the first time since a series of setbacks that followed its $10 billion expansion, sources familiar with operations said. The 2.5 percent increase in crude oil intake one day in late June, trumpeted in a company email, showed the continuing impacts of a troubled start-up after the expansion, the sources said. “If it had been built better, if it had been designed better, it could be running more crude,” said one of the sources. A Motiva official declined to comment. read more

The Real Reason Shell Halted Its Ukrainian Shale Operations

Screen Shot 2014-02-10 at 16.29.29Extract from an OilPrice.com article by Igor Alexeev published 19 June 2014

Royal Dutch Shell has blamed air strikes by the government in Kiev against its own citizens in southern Ukraine as the reason it decided to declare a halt to its shale oil projects in the troubled region. In reality, the truth may be closer to the fact that company is disappointed with the economic viability of what it once thought was a large shale deposit and is looking for a way out. According to a recent statement by the former head of Royal Dutch Shell, Peter Voser, “the company is now analyzing its business in shale,” which, translated from the streamlined language of press releases, means: The project is not earning its keep and we need to do something (Read: write off expenses).
read more

Leaving a sinking ship: Royal Dutch Shell Plc

Screen Shot 2014-06-09 at 14.58.51Bichsel will undoubtedly leave shortly, joining Ollila, Rees, Brown, Brinded, Voser, Finlayson, Carne… And when everything starts to collapse, he will at least now have the satisfaction of saying “I told you so”. This is typical for a coward…

By John Donovan

Earlier today Reuters published comments attributed to Royal Dutch Shell Plc Executive Director, Matthias Bichsel.

Extract

“There is always so much talk about these big LNG projects around the world, but only a small fraction of them will get built,” said Matthias Bichsel, who is also a member of Shell’s Executive Committee.

The Financial Times has this weekend pointed put “the company’s leadership is changing at a time when its financial performance has been under scrutiny from investors” and also drew attention to the recent profit warning, following a succession of dismal quarterly results.  read more

Peter Voser spending more time with his family

Screen Shot 2014-01-03 at 14.32.05By John Donovan

When the surprise announcement was made by Peter Voser that he would be stepping down early from his position as Chief Executive of Royal Dutch Shell Plc, it was claimed that his early exit was prompted by a sudden desire to spend more time with his family.

It supposedly had nothing to do with the financial meltdown that happened on his watch and resulted in a profits warning being issued as soon as he had been pushed out the door. 

Voser was responsible for a number of bungled mega projects, including Arctic oil exploration. read more

Insiders Perspective on Shell VP Arjen Dorland

Royal Dutch Shell VP Arjen Dorland

Royal Dutch Shell VP Arjen Dorland

One of few respected IT-illuminati, shortly before he retired, suggested that Dorland was a bit of an animal if not held on a tight leash…

From a Shell Source

Amusing to see Arjen Dorland extolling the virtues of technological enablement of exploration within Shell especially given his limited engagement with and knowledge of this part of the business. One suggests that there is an ulterior motive here and one worth going through in detail. It’s been noted on here previously how Arjen Dorland first rose without trace at the start of the millennium in the battered Shell IT organisation, having originally been identified as a JG 1-2 maximum level employee (the Shell system, as we all know, sets CEP levels for all its staff and this system is rigorously enforced by the myriad HR managers that Shell homes and encourages). He remains to this day intensely bitter about that initial positioning and it explains his character and motivation to a ‘T’. read more

Shell’s new pay structure criticised

Peter Voser

Peter Voser

Extract from a Financial Times article by Michael Kavanagh published 20 May 1014

A sharp fall in the pay of outgoing chief executive Peter Voser last year failed to quell discontent among some investors at Royal Dutch Shell over rewards offered to its top staff.

FULL ARTICLE

Convulsions in Irish Justice Dept and Policing

RESIGNED: Justice Minister Alan Shatter and Garda Commissioner Martin Callinan.

RESIGNED: Justice Minister Alan Shatter and Garda Commissioner Martin Callinan.

The creators of the mould-breaking TV comedy Seinfeld adopted two rules: no hugging, no learning. We need to apply those rules to our current episode of the dark farce of Irish “reform”. Of course, the details should be properly investigated but on the larger scale, there is nothing new to be learned here. The new inquiries will find what the old ones found: a culture in the Garda, Department of Justice and in the State as a whole of burying unwanted truths. 

By John Donovan

The convulsions in Ireland arising from the resignations of the Police Commissioner and the Justice Minister continue, with the Irish Cabinet discussing terms of reference for an inquiry into Garda cases.

Extracts

The Minister said the external review of the Department will be completed before the Dáil and Seanad rise for the summer recess. “I have committed to root and branch reform of the administration of justice in this country and this includes the Government Department responsible for this area.” In addition, the Cabinet resolved to urgently bring forward new legislation to strengthen the operation of the Garda Síochána Ombudsman Commission. Ms Fitzgerald further said that the new Independent Garda Authority will be up and running by the end of the year. read more

Bowing to Putin

Shell's Ben van Beurden bows to Putin on Good Friday, 18 April 2014

Shell’s Ben van Beurden bows to Putin on Good Friday, 18 April 2014

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By John Donovan

I have checked and thus far have been unable to find any photographs of Rex Tillerson (ExxonMobil) or Robert Dudley (BP) bowing in the slightest to Putin. It seems that only Royal Dutch Shell executives, Jeroen van der Veer, Peter Voser, and Ben van Beurden, have been prepared to stoop that low.

Ben van Beurden dragged into Irish Cops Bribery Scandal

Screen Shot 2014-04-18 at 09.24.17

By John Donovan

Printed below are self-explanatory extracts from an email I sent on 16 April to Johan Groenewald, the senior officer at the Garda Ombudsman Commission investigating allegations made by OSSL about Shell corrupting the Irish police force.

I am arranging  for OSSL directors to attend the Royal Dutch Shell Plc Annual General Meeting in May, as they did last year (as reported in The Observer).

Extract

The Donovans had secured places for Kane and Rooney at Shell’s annual meeting last month, to raise their grievances. Cornered, the company’s CEO, Peter Voser, suddenly ordered a further inquiry, a move echoed by the Garda. read more

Shell’s UK corporation tax bill tumbles

Screen Shot 2014-04-10 at 00.19.29Extracts from an article by ROB DAVIES published 9 April 2014 by This is Money.co.uk under the headline: “Shell’s UK corporation tax bill tumbles by nearly 90 per cent as company invests more in North Sea and production declines”

Shell’s UK corporation tax bill tumbled by nearly 90 per cent to just £55.5m last year, as the company invested more in the North Sea and production declined. Shell’s UK bill fell from £487m last year to £55.5m, less than it paid in Nigeria, Norway, Australia, Malaysia, Canada and Italy.

Shell’s public image was tarnished last week by a report from the US Coastguard which criticised readiness for Alaskan Arctic drilling. …the US Coastguard assessment of Shell’s preparedness was rather more cutting. The report criticised the plan for towing the Kulluk, saying Shell showed a ‘lack of respect’ for the conditions. It also said Shell’s decision to tow the Kulluk to Seattle amid rough winter seas was partly motivated by a desire to cut tax, something former boss Peter Voser denied. read more

Shell Oil Boss Marvin Odum Should Resign after Alaskan Debacle

Screen Shot 2014-04-04 at 18.33.20Now we have further confirmation that Shell was trying to dodge a multimillion tax bill. This time confirmation comes from the findings of an investigation by the Coast Guard division of US Homeland Security. There are going to be more Royal Dutch Shell executives looking for alternative employment… And Marvin Odum, Shell’s boss in the USA, should be top of the list.

By John Donovan

After Shell’s Arctic ambitions hit the rocks at the end of December 2012, Shell initially conceded that the ill-fated Kulluk drilling rig had left port under tow to avoid taxes.

Shell then backtracked. Shell’s chief executive Peter Voser rejected accusations that tax issues were a factor in the move.

We subsequently had confirmation from one of the honest people at Shell, Sean Churchfield, its operations manager in Alaska, that the first admission was correct. The Kulluk had indeed left port in order to avoid “millions” in annual state taxes. read more

Peter Voser regrets on unconventional oil and gas

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Peter Voser said the failure of Royal Dutch Shell’s huge bet on US shale was a big regret of his time as chief executive of the company. Shell has invested at least $24bn in so-called unconventional oil and gas in North America. But it is a bet that has yet to pay off. “Unconventionals did not exactly play out as planned,” Mr Voser said.

From an oil industry expert: Unconventional Oil and Gas

The following is an extract from an article by Guy Chazan published on 6 October 2013 by the Financial Times under the headline: “Peter Voser says he regrets Shell’s huge bet on US shale

Peter Voser said the failure of Royal Dutch Shell’s huge bet on US shale was a big regret of his time as chief executive of the company. Shell has invested at least $24bn in so-called unconventional oil and gas in North America. But it is a bet that has yet to pay off. Its North American upstream business has struggled to turn a profit and in August Shell announced a strategic review of its US shale portfolio after taking a $2.1bn impairment. “Unconventionals did not exactly play out as planned,” Mr Voser said. read more

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