Posts under ‘Shell Oil Reserves Scandal’

Though Royal Dutch Shell has made major strides over the past decade in overcoming the negativity surrounding the 2004 reserve overstatement scandal, which led to the ouster of its CEO and other top executives, the company continues to be plagued by operational blunders that are straining its relationships with shareholders. At the company’s annual meeting last [...]

For years, the independent investigation by law firm Davis Polk & Wardwell showed, executives had exchanged emails about “lying” and “fooling the market”. The would-be whistleblower, Van de Vijver, wrote in December 2003 that a report on the real reserves position “needs to be destroyed”. By Andrew Callus LONDON | Wed May 29, 2013 7:31pm [...]

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

With regard to your most obvious rivals, Simon Henry seems to be a very intelligent, competent executive, but comes with the baggage of his starring role in the reserves scandal. I published our verdict. Based on my strange experience of communicating with Marvin Odum via RDS Plc Company Secretary Michiel Brandjes, I reached the conclusion [...]

Chief financial officer Simon Henry was made the front-runner by bookmaker Paddy Power, despite saying it would be �inappropriate� to discuss his candidacy. The Anglo-Dutch firm has not had a British boss since Sir Philip Watts left in disgrace in 2004 after Shell overstated its oil reserves. By Rob Davies: PUBLISHED: 22:14, 2 May 2013 [...]

I last wrote to you on 1st March 1999. I did so in the knowledge that your esteemed family is one of the largest single shareholders in Shell. I warned you about what I described as �a culture of deception and cover-up deeply ingrained at the highest levels of Shell�. FINANCIAL TIMES By Matt Steinglass [...]

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 [...]

In case you are not aware, ***I have already supplied Shell insider information and leaked documents to the Department of the Interior. A senior person requested our help on behalf of the DoI, which we were happy to give. We will of course be pleased to assist in any further requests made of us. EMAIL [...]

FROM OUR SHELL NEWS ARCHIVE Firms pocket millions for Shell work: �Oil company Shell pays record-breaking amount for audit work during one of the most controversial periods in its history.�: �KPMG and PwC pocketed $70m (�37m) for their work with Shell during its troubled last 12 months, according to the oil company’s latest filing with [...]

Selection of links to Shell related articles kindly supplied by a regular contributor Shell to invest in energy technology companies with new venture: FuelFix (blog)-Shell Technology Ventures’ focus will include enhanced oil recovery; natural-gas production and marketing; geophysical surveys; chemical … ExxonMobil Joins LNG Rush With Barge 6X Bigger Than An Aircraft …: Forbes-by chris [...]

By John Donovan: As can be verified from page 81 of the Shell Form 20F 2004 filing with the US Securities & Exchange Commission and a related Wall Street Journal article, Shell lent the fraudsters responsible for the reserves scandal $12 million to cover litigation costs. Almost a decade later, I have not seen any [...]

FROM OUR MARCH 2004 SHELL NEWS ARCHIVE EMBATTLED oil major Shell has been hit by at least 15 multi-billion-dollar claims of fraud, it has emerged. London Evening Standard: Shell facing up to 15 fraud claims James Rossiter, 10 March 2004 EMBATTLED oil major Shell has been hit by at least 15 multi-billion-dollar claims of fraud, [...]

By John Donovan Shell seers who failed to predict the reserves scandal and Shell’s Arctic meltdown, now offer their latest peek into the future. Past performance does not inspire confidence in their prophecies… The famed corporate crystal ball never revealed a world in which its so-called No.1 Enemy would be operating globally under the Royal [...]

How come that nobody dared say what everyone in the world saw (thanks to the Donovans) that you simply cannot go to this most sensitive area in the world with a couple of old rustbuckets? The timing of the most recent Shell reorganisation to buckets and superbuckets was very opportune. I wonder if there now [...]