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Posts under ‘Royal Dutch Shell Unification’

Deepwater drilling

Shortly after the presentation, the oil majors posted dreadful Q2 results, prompting Shell CEO Peter Voser to declare Shell would discontinue production guidance to focus on quarter by quarter cash flow growth. Goldman Sachs singled out Shell for excessive investment in low return assets… Those who saw the ‘Capex Compression’ road show back in the summer […]

Shell’s FLNG plans take shape

Peter Klinger, The West Australian November 13, 2013 Royal Dutch Shell’s floating LNG ambitions are gradually taking shape in Samsung Heavy Industries’ Geoje shipyard in South Korea, where finishing touches are being put to the giant hull of the production vessel that will hover over the Prelude gas field off the Kimberley coast from 2016. […]

Louisiana agency sues big oil firms for hurting wetlands

Wed Jul 24, 2013 6:36pm EDT (Reuters) – A Louisiana agency sued 97 oil companies – including BP Plc, Exxon Mobil Corp , Chevron Corp and Royal Dutch Shell Plc – in state court on Wednesday for allegedly damaging hundreds of miles of sensitive wetlands by cutting through them with pipelines and transportation canals. Governor […]

Shell Admits Real Reason Coast Guard Had To Rescue Its Arctic Drilling Rig: Failed Tax Avoidance Scheme

By Ryan Koronowski on May 28, 2013 at 6:17 pm The main reason an offshore oil rig ran aground off the coast of Alaska late last year was because oil company Royal Dutch Shell was trying to depart state waters to avoid paying millions in taxes. Sean Churchfield, operations manager for Royal Dutch Shell in […]

RoyalDutchShellPlc.com hacked off

By John Donovan: Printed below is current email correspondence with the Open Security Foundation DataLossDB project, which had seen reports posted on the Internet that this website had been hacked by the “Brazilian Electronic Army”. The claims were false. Like the Brazilian Electronic Army, the Open Security Foundation seems to be under the impression that […]

Is Shell Executive Director Matthias Bichsel Trustworthy?

Irrefutable evidence proves that Matthias Bichsel knew years before Shell investors that Shell had a major problem over its proven reserves bookings, which were not in compliance with the U.S. Securities and Exchange Commission rules. Like his colleague Simon Henry, the current CFO of Royal Dutch Shell Plc, he participated in the cover-up by not […]

Shell’s contempt for its UK shareholders: Scraps UK satellite AGM

“The decision not to have an audio/visual link to London for this years RDS AGM means that for the first time in history British based shareholders will not be able to attend a Shell AGM in the UK. At the time of the demise of Shell Transport and Trading and the formation of the new […]

Verdict on Royal Dutch Shell CFO Simon Henry

Shell internal email correspondence irrefutably proves that Simon Henry was aware in March 2002 that “reserves bookings were made that should not have been made”. Walter van de Vijver, the “sick and tired” Chief Executive of Shell EP, gave the information directly to him. As can be seen in the email, Walter van de Vijver aggressively […]

Simon Henry feared Shell would ‘score an own goal’ on reserves

Simon Henry was at the heart of what was going on, conveying reserves data to the market while dealing with colleagues engaged in the fraud. We have to assume that none of them confided in him and that he was an innocent dupe. He was asking questions about accuracy of the reserves information, but some […]

How Shell’s Move To Revamp Culture Ended in Scandal

FROM OUR NOVEMBER 2004 SHELL NEWS ARCHIVE How Shell’s Move To Revamp Culture Ended in Scandal: “The root of the problem, however, goes significantly further back than Sir Philip’s reign, which began in 2001”: “These deeper roots are significant because the company has yet to make a full break with its past. Mr. van der […]

How Shell’s Move To Revamp Culture Ended in Scandal

FROM OUR NOVEMBER 2004 SHELL NEWS ARCHIVE How Shell’s Move To Revamp Culture Ended in Scandal Paddy Briggs, a retired Shell communications executive, recalls one event where he and about 40 executives were issued shovels and pick-axes and dispatched to a Dutch village to help it restore an old playground. The oilmen gave up around […]

All the worst Shell traits – secrecy, haughtiness, inertia

 From our Shell News Archive Sunday 31 October, 2004 The fallout from the Shell reserves fraud continues… The Independent On Sunday (UK): Business View: Shell’s real location problem is finding more black stuff: “The misreporting of reserves scandal showed all the worst Shell traits – secrecy, haughtiness, inertia.”: “So what’s the hurry? Was it because […]

Shell stuns City with revamp

From our October 2004 Shell News Archive London Evening Standard: Shell stuns City with revamp “The troubled group wants to draw a line under its devastating oil and gas reserves crisis earlier this year by creating a new £100bn holding company, Royal Dutch Shell Plc.”: “Buried deep in the results statement, Shell said it was […]

Royal Dutch/Shell to merge

From our October 2004 Shell News Archive Royal Dutch/Shell to merge Netherlands HQ ‘not a victory for the Dutch': “Yet Shell’s governance scheme wasn’t without a few surprises, chiefly that the headquarters will be based in The Hague, Netherlands along with two of the group’s three main businesses.” By Emily Church, Oct. 28, 2004 LONDON […]

ROYAL DUTCH SHELL ROBBERS AND RASCALS

FROM OUR SEPT 2005 SHELL NEWS ARCHIVE ROYAL DUTCH SHELL ROBBERS AND RASCALS “…Shell shareholders have to foot the bill for lawyers fees run up in the course of defending fat cat crooks, such as Sir Phillip Watts, the disgraced former Group Chairman of the Royal Dutch Shell Group. Sir Phillip ended up with a […]

Shell still wrestling with its moment of shame

FROM OUR AUGUST 2004 SHELL NEWS ARCHIVE The Independent: Shell still wrestling with its moment of shame “Shell is bluntly accused of making false and misleading statements about its oil reserves over a five-year period, of doing so despite internal warnings that the statements were false” JEREMY WARNER United Kingdom; Aug 25, 2004 SHELL CAN […]

An oil giant’s road from Rajasthan to ruin

 FROM OUR AUGUST 2004 SHELL NEWS ARCHIVE… Michael Harrison’s Outlook: An oil giant’s road from Rajasthan to ruin “Shell, by contrast, has endured the most humiliating, torrid and damaging period in its 100-year history. It is hard to think of a more spectacular fall from grace or a more abject example of management failure.”: “The […]

Shell loses Royal Dutch Shell PLC Domain Name Battle

FROM OUR AUGUST 2005 SHELL NEWS ARCHIVE… ShellNews.net: Shell loses Royal Dutch Shell PLC Domain Name Battle As a result of their gross incompetence this *scandal ridden multinational finds itself in a highly embarrassing position. It has publicly laid claim to the domain name and will consequently suffer a considerable loss of face with its […]

Shell News Archive Saturday 17 December 2005

Shell News Archive Saturday 17 December 2005   The Scotsman: Shell in North Sea cuts after tax hike: “ENERGY giant Shell has slashed investment in its future North Sea drilling programmes by a third – less than two weeks after Chancellor Gordon Brown levied his controversial tax hike on fuel production.”: Saturday 17 December 2005: […]

Shell News Archive Friday 16 December 2005

Shell News Archive Friday 16 December 2005 Friends of the Earth: Shell accused of contempt of court over continued illegal gas flaring: “The ruling recognizes that gas flaring is a serious human rights violation”; Friday December 16, 2005: READ   Green Consumer Guide: Rare whales face oil project threat: “It is a scandal that UK […]

Shell News Archive Monday 12 December 2005

Shell News Archive Monday 12 December 2005 REUTERS: Hedge fund challenges Royal Dutch Shell in court: “The merger was aimed at restoring confidence in Shell after a damaging reserve-overbooking scandal last year which was partly blamed on the group’s complicated dual management and ownership.”: “Dutch corporate law experts said if the court ruled in favour […]

Shell News Archive Sunday 13 November 2005

Shell News Archive Sunday 13 November 2005 Sunday Business Post (Ireland): Cassells meets Shell and Mayo protesters to seek mediation: Shell mediator Peter Cassells held his first informal meetings with Shell management and action group Shell to Sea last week, The Sunday Business Post has learned.”: Cassells travelled to Mayo last Tuesday evening to meet […]

ROYAL DUTCH SHELL NEWS SATURDAY 5 NOVEMBER 2005

ROYAL DUTCH SHELL NEWS SATURDAY 5 NOVEMBER 2005 Daily Telegraph: Resistance pays off for Shell rebels: “Rebel Shell shareholders who refused to accept the terms of the the oil company’s restructuring, because it left them with big tax bills, look to have been rewarded for their resistance.”: “More than 1,000 British shareholders who accepted the […]

Edelman, Burson land global deals with unified Shell

PRWeek: Edelman, Burson land global deals with unified Shell “ Burson, meanwhile, is to promote the new corporate entity – created earlier this year from the merger of Shell Transport & Trading and Royal Dutch Petroleum – to shareholders, media, NGOs, and government agencies worldwide.” Monday 3 October 2005 Ian Hall 3 Oct 2005 LONDON: […]

Fidelity shows Shell how giants can care for small investors

Daily Telegraph: Fidelity shows Shell how giants can care for small investors “Any complacency about rising standards in the City would, however, be misplaced. Shell’s half-hearted climbdown this week demonstrates that many boardroom fat cats continue to regard individual shareholders with disdain.” (Filed: 24/09/2005) By Ian Cowie, Personal Finance Editor Small investors are often treated […]

Shell finally does the decent thing

Daily Telegraph: Shell finally does the decent thing “Shell performed an embarrassing U-turn this week and offered new tax-free merger terms to British investors in Royal Dutch Petroleum who were refusing to agree to the unification with Shell Transport & Trading. However, Shell is risking the wrath of British shareholders in Royal Dutch who accepted […]

Efforts to boost crude output hit by soaring costs

The Guardian (UK): Efforts to boost crude output hit by soaring costs “The situation is particularly acute for Shell, whose 2004 annus horribilis of reserve downgrades has left it under extra pressure to rebuild its asset base quickly.” Thursday September 22, 2005 Shortages of equipment and skilled staff have added to years of underinvestment Terry […]

Royal Dutch Shell look to complete unification of UK and Dutch arms

ABC Money.co.uk: Royal Dutch Shell look to complete unification of UK and Dutch arms “Following the reserves overbooking scandal last year, Royal Dutch Shell had opted to unify its UK and Dutch arms in a bid to restore confidence in the company.” Thursday 22 Sept 2005 LONDON – Oil giant Royal Dutch Shell has announced […]

Shelling out at last

The Times: Shelling out at last “SHELL’S chief executive, Jeroen van der Veer, should be after the head of whoever was responsible for making him look mean and insensitive when, it now transpires, this could have been avoided.” Wednesday 21 September 2005 SHELL’S chief executive, Jeroen van der Veer, should be after the head of […]

Daily Telegraph: Shell bows to UK investor pressure

Daily Telegraph: Shell bows to UK investor pressure “Shell yesterday performed an embarrassing U-turn and offered new tax-free merger terms to British investors in Royal Dutch Petroleum:”: “However, Shell is risking the wrath of British shareholders in Royal Dutch who accepted the terms of the deal and have been left with a multi-million pound tax […]

At last Shell oil – but only for the squeaky wheels

Daily Telegraph: At last Shell oil – but only for the squeaky wheels “…the treatment of the British Royal Dutch holders is one of Shell’s more disappointing episodes and an unwelcome throwback to its old reputation for corporate arrogance.” Wednesday 21 Sept 2005 Finally some common sense is seeping out from the Shell lubyanka over […]

Daily Mail: Shell’s pain is Cairn Energy’s gain

Daily Mail: Shell’s pain is Cairn Energy’s gain “Canny Scottish operator Cairn bought the Indian fields three years ago for just £4m – from Shell.” Wednesday 21 Sept 2005 By Ruth Sunderland SHELL has been forced into a climb down following a row with 400 rebel private investors over the unification of its British and […]

Royal Dutch Shell offers way out of £77m tax bill

The Times: Royal Dutch Shell offers way out of £77m tax bill “ROYAL DUTCH SHELL, the newly unified oil and gas group, has moved to appease a small group of disgruntled British shareholders by proposing a way to avoid a £77 million tax bill.” Wednesday 21 Sept 2005 By Peter Klinger ROYAL DUTCH SHELL, the […]

Shell offers way out of tax glitch

Financial Times: Shell offers way out of tax glitch “Royal Dutch Shell has belatedly found a solution to a problem that had created an immediate capital gains tax liability for some of its UK private shareholders.”: “There would be no compensation for shareholders who had already tendered their shares, Shell said.” Wednesday 21 Sept 2005 […]

Royal Dutch says to restructure subsidiaries

Reuters: Royal Dutch says to restructure subsidiaries “The firm said the restructuring would require an extraordinary general meeting of shareholders and should be completed by the end of the year.” Tuesday 20 Sept 2005 LONDON, Sept 20 (Reuters) – Oil major Royal Dutch Shell (RDSa.L: Quote, Profile, Research) said on Tuesday it was restructuring some […]

Royal Dutch Shell to clear up Dutch holding company minorities

AFX News Limited: Royal Dutch Shell to clear up Dutch holding company minorities Tuesday 20 Sept 2005 09.20.2005, 04:05 AM LONDON (AFX) – Royal Dutch Shell Group announced details of its plan to clear up minority shareholdings in its former Dutch holding company, following the restructuring of the Anglo-Dutch oil giant. It said that Royal […]

Going Dutch? For some shareholders it is a far from equitable split

Daily Telegraph: Personal view: Going Dutch? For some shareholders it is a far from equitable split “There have been a number of less-than-ideal constructions and reconstructions recently where the smaller shareholder feels hard-done by. Take the case of Shell, or Royal Dutch Shell as it is now known, as a particularly harsh example. Following on […]

The buck stops on the boss’s desk

The Guardian (UK): The buck stops on the boss’s desk “Let us ignore the damage done to his reputation a) by the very fact that Shell had about a quarter less oil in the ground than it had been claiming and b) by that email in which Shell’s exploration chief told Sir Phil he was […]

Reuters: ex-Shell boss loses appeal against UK regulator

Reuters: x-Shell boss loses appeal against UK regulator “Philip Watts had argued that his reputation was unfairly impinged by the Financial Service Authority (FSA) ruling that the company, now called Royal Dutch Shell Plc, had engaged in “unprecedented misconduct” that resulted in market abuse, for which it was fined 17 million pounds ($31.06 million).”: Tuesday […]

Shell move robs UK investors

The Sunday Times (UK): Shell move robs UK investors “When the oil giant merged, British investors in the Dutch arm of the firm lost up to 25% of their holdings…”: “Many are elderly investors who have held the shares for decades and face tax bills of tens of thousands of pounds after their stock was […]