Posts under ‘Sir Philip Watts’

The crisis in my book, and we are far from the endpoint in this, is that RDS officials lied in that the decision to move Kulluk was not related to tax avoidance when it was.  Perhaps that is why the RDS CEO has taken a closer interest in his family and the sustainability of his [...]

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 [...]

The foot soldiers, of whom I was one in Shell, often took their leads from what they saw as ruthless and bad behaviour at the top � and, unsurprisingly, sometimes behaved badly themselves. (Disgraced Shell Chairman Sir Philip Watts shown right) Article by retired Royal Dutch Shell executive Paddy Briggs. I received my first monthly [...]

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 [...]

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 [...]

In addition to the �2.9m for his Netherlands home, “Brinded, 60 tomorrow, pocketed �2.7 in salary and severance for the four months he worked last year. He also walked away with �9.7m in shares and a �19m pension pot.” So, with wonderful timing, Brinded received a package worth �34.3 million as a spectacular birthday present. [...]

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 [...]

By John Donovan An article published today by the Maidenhead Advertiser says the Rev Sir Philip Watts is taking up a new position as Priest in Charge of the Benefice of Waltham St Lawrence. He is still protesting his innocence in relation to the Shell reserves fraud and cover-up that resulted in him being forced [...]

FROM OUR FEBRUARY 2005 SHELL NEWS ARCHIVE: ��we learned last year that the company leadership had been systematically lying to itself, its shareholders and wider stakeholders about the size of its oil reserves.�: �for years Shell lied about its sustainability as a business while preaching principles that it was betraying.�: �Shell had knowingly overstated its [...]

BUILD UP TO SHELL RESERVES SCANDAL: Comments by leading Shell execs: “…the market will want to know whose head is going to roll for what they will see as blatant deception.”; “this is potential dynamite for management credibility and the share price”; “…how you have to break the detail of this news in September, assuming [...]

By John Donovan On Friday we published an article revealing Shell internal email correspondence, which provided proof that three weeks after the 9/11 terrorist attack on the USA, Shell executives were considering how Shell could exploit the horrific event for commercial reasons. As can be seen from the correspondence, the objective was to “buy us [...]

Shell News, this day, 9 years ago: Shell investors were still in a state of shock over the dramatic disclosure that Shell had vastly overstated its proven oil and gas reserves. The main villain, the fraudster, Sir Philip Watts, was still Royal Dutch Shell Group Chairman. Lord Oxburgh was still backing him. Daily Mail: Rebels [...]

Were they aware that Simon Henry was a key player, as Head of Global Investor Relations, in dealing with the reserves data and actually had responsibility to ensure the quality/accuracy of the data before it was disclosed to analysts and investors? As we all know, it turned out that some of the data was not [...]

Now we have his equally scandal tainted successor, Peter Voser, Chairman of the UBS Audit Committee at the time when UBS was engaged in all kinds of criminal activity. Posting on Shell Blog by LondonLad on Jan 17th, 2013 at 19:56 In all honesty can the Donovan�s kindly list some of the past and present [...]