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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 […]

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 […]