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Posts under ‘The Independent’

Despite cuts, oil giants look to expand production

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Ben Chapman: 6 Sept 2016

Never mind the drop in crude prices, huge spending cuts and thousands of job losses, the world’s top oil and gas companies are set to produce more than ever for some time.

While top oil companies struggle with slumping revenues following a price rout after years of spectacular growth, their production has grown as projects sanctioned earlier in the decade come on line. Overall production at the world’s seven biggest oil and gas companies is set to rise by around 9 per cent between 2015 and 2018, according to analysts’ estimates.

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Shell to cut 10,000 jobs as profits plunge by 80 per cent

Screen Shot 2016-02-05 at 11.00.27Tom Bawden Environment Editor: 5 FEB 2016

Shell yesterday confirmed plans to cut 10,000 jobs now that its takeover of rival BG Group is set to go through, and raised the prospect of further redundancies, as it reported an  80 per cent slump in profits to a 13-year low.

Two days after BP announced its biggest-ever annual loss, Shell revealed that its profits had fallen to $3.8bn (£2.6bn) last year, from $19bn in 2014. The industry has been rocked by a sustained slump in the oil price, from $115 a barrel in the summer of 2014 to $35.41 yesterday. 

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Shell attacked for its part in ‘extraordinary’ £2.3bn Nigerian tax break

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Mark Leftly: 20 JAN 2016

Royal Dutch Shell has come under fire for being part of a consortium that accepted an “extraordinary” $3.3bn (£2.3bn) tax break in Nigeria – twice the poverty-stricken country’s annual health budget.  

In a new report ActionAid estimated the consortium, which also includes France’s Total and Italy’s Eni, received this benefit between 2004 and 2012 on top of Nigeria’s standard five-year tax holiday to encourage investment. The charity says the cost of the tax breaks could have been better spent on improving health and education systems at the same pace that oil revenue pours in.

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Oil price falls below $28 a barrel, or less than the cost of an actual barrel

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Hazel Sheffield: 18 JAN 2016

Not everyone agreed with the RAC when it said that petrol could become cheaper than bottled water.

RAC wagered that if the price of oil slid below $20 barrel, it could push petrol prices to 90p a litre – while a fall to $10 a barrel or less could see petrol sold at 86p a litre, or cheaper than a bottle of water.

But only if you are a water snob, according to the Hydration Council, who emailed us to say that the average price of a litre bottle of water, purchased in a multi-pack, is 38p. Take that, Perrier drinkers. 

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Shell and VW top list of NGOs ‘most hated’ brands in the UK

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Zlata Rodionova: 18 JAN 2016

Volkswagen has made a list of non-governmental organisations’ “most hated” brands in the UK for the first time, following a turbulent year for the company dealing with fallout from the emissions scandal.

VW came in at fourth place in the survey that named Shell as the most hated brand.

VW is now the seventh least popular brand in the world, according to the survey of more than 7,500 NGOs by Sigwatch, a consultancy.

Robert Blood, founder and managing of Sigwatch, told the Independent that the Volkswagen scandal allowed NGOs to draw attention to the bigger problem of green emissions.

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Oil price surge makes Shell swoop for BG more palatable

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Jamie Nimmo: 5 Jan 2016

The oil price surge made Shell’s swoop for smaller rival BG slightly more palatable for investors, despite concerns the deal could be called off. The regulatory hurdles have all been cleared, but shareholders must now give  their views on the cash and shares deal, currently worth £37bn – £10bn less than when it was struck in April last year.

That was when the oil price was near $60 a barrel. It now stands at $38 a barrel, even after a 2 per cent jump yesterday.

Shell and BG’s backers vote on 27 and 28 January respectively, but the former could be forced by its own shareholders to renegotiate.

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The many reasons why Shell’s deal with BG will happen in 2016

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How idiotic would its board look if it ditched its current bride at the altar, only to see her hook up with a rival in a few months’ time?

Jim Armitage: Wednesday 23 Dec 2015

It will be the first big test of 2016: will Shell press on with its takeover of BG when the oil price is stubbornly below $40 a barrel? Today, it gave a clear “yes” by publishing its full merger documentation and posting the paperwork out to shareholders. If it was not planning to press on with the deal, it would have found some excuse why not to do so.

The documents rap out a series of reasons why the current bombed-out oil price is not relevant to the logic of integrating these two vast companies. The deal will bring so many efficiencies, Shell promises, that its hallowed dividend will be safer, bringing in more cashflow to pay into the divi pot at as low as $50 a barrel. Few people really think crude is likely to stay below that for decades to come. And, as far as the value of the combined assets goes, it can breakeven at the low $60s, Shell adds.

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Shell promises more cuts to win investors over on BG deal

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Michael Bow: 15 Dec 2015

Royal Dutch Shell moved to shore up support for its £35bn BG Group takeover yesterday, by promising to slash more jobs amid concerns shareholders could rebel against the deal. 

The Anglo-Dutch oil giant will axe a further 2,800 jobs around the world on top of 7,500 roles it had previously announced were for the chop.

The losses – equivalent to 3 per cent of the combined group’s workforce – coincide with the final furlong of the long-running takeover saga, which has been put under pressure due to this year’s oil price rout. 

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Shell’s £22,500 fine for North Sea oil spill slammed as ‘paltry’ by campaigners

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Screen Shot 2015-11-21 at 00.19.03The World Wildlife Fund warned the size of the fine would ‘do little to deter future poor behaviour’

Shell apologised for the lack of information and said it was not a deliberate attempt to cover up the spill. 

Adam Barnett: 24 November 2015

A £22,500 fine imposed on the energy giant Shell as punishment for the worst North Sea oil spill in a decade has been dismissed as “paltry” by environmental campaigners.

The World Wildlife Fund (WWF) warned the size of the fine, for a company that earns billions, would “do little to deter future poor behaviour” by oil and gas companies to avoid more damage to the environment.

The leak from the Gannet Alpha platform in August 2011 was the worst in the region in 10 years and saw more than 200 tons of oil – about 1,300 barrels – flood into the sea. 

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Diezani Alison-Madueke: Behind the ‘reformer’ of the Nigerian oil industry’s arrest

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Screen Shot 2015-10-08 at 08.20.57Mrs Alison-Madueke, 54, part of a prominent Nigerian family and a former Shell executive, was appointed as Honourable Minister of Petroleum Resources in March 2010 by now former president Goodluck Jonathan

Until last Friday, Diezani Alison-Madueke’s position as one of the most prominent women on the global stage had seemed assured. Boasting a Cambridge degree and a portfolio of senior government positions in her native Nigeria, she is also the first female president of the OPEC oil cartel.

Such is her influence that the British government earlier this year placed her top of a list of former recipients of the taxpayer-funded Chevening Scholarship for future leaders of foreign states whom it wanted to recognise for International Women’s Day. The roll call paid tribute to women who it said personified the slogan for the event – “make it happen”.

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Shell and The Science Museum’s toxic relationship has just been exposed

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Screen Shot 2015-05-18 at 09.56.22The true nature of big oil sponsorships was exposed last week, after it was discovered that Shell had sought to influence the content of the climate change exhibition “Atmosphere”, which it sponsors at the Science Museum.

Emails obtained via Freedom of Information requests show how the company positioned its own staff as advisors: “Regarding the gallery update, can I check whether you have touched base with David Hone to see if he would like to participate in the content refresh?” read one email from May last year.

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Chiara D’Angelo interview: Arctic activist who spent 66 hours suspended from anchor said nature inspired her to continue protest

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Screen Shot 2015-05-25 at 21.27.36ANDREW BUNCOMBENEW YORK: Monday 25 May 2015

Chiara D’Angelo interview: Arctic activist who spent 66 hours suspended from anchor said nature inspired her to continue protest

The activist who spent 66 hours suspended from the anchor of an oil exploration vessel has said she took strength during her protest from looking at the wildlife surrounding her.

Chiara D’Angelo attached herself on Friday evening to the anchor of the Arctic Challenger as it moored north of Seattle. The ship is among those that Royal Dutch Shell intend to use as they drill for oil in the Arctic Ocean off northwestern Alaska later this summer.

Ms D’Angelo ended her protest at around 9.30m. Speaking from the town of Bellingham, she told the The Independent that when she started the protest, she had no idea how long she would manage to remain suspended from the anchor.

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Following the Shell-BG deal, could Exxon bid for BP?

Screen Shot 2015-04-09 at 00.19.50Article by Jim Armitage published by The Independent on Friday 10 April 2015

Following the Shell-BG deal, could Exxon bid for BP?

Another day, another tide of speculation sweeps through the City investment banks about oil industry takeovers following Shell’s £47 billion bid for BG, the UK’s third largest energy supplier.

Even that old saw about Exxon dispatching its galleons across the Channel to buy BP was being punted around by some brokers this morning. Forgive me if history proves me a fool, but, even taking Exxon’s recent chest beating about its appetite for deals, it seems unlikely.

For starters, monopoly regulators would force such a vast company to sell huge amounts of their combined assets, negating the whole point to a deal. Second, Exxon has just painfully extricated itself from its joint exploration project in Russia thanks to US sanctions. It’s hardly likely to jump back into bed with the biggest western operator there. Third, there’s the small matter of the ongoing Gulf of Mexico oil spill litigation.

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BP to axe 1,000 jobs amid warning of oil price plunge to $40

Screen Shot 2014-12-04 at 20.54.03Oil giant BP has said it will rack up costs of at least $1 billion (£637 million) over the next year as it embarks on a corporate shake-up which could cull more than 1,000 jobs. It comes as an Iranian official in the Opec oil cartel said crude prices could plunge as low as $40 a barrel in the near future…

Article by Russell Lynch published by The Independent Wed 10 Dec 2014: BP unveils $1bn restructuring amid plunging oil prices

Extracts

Oil giant BP has said it will rack up costs of at least $1 billion (£637 million) over the next year as it embarks on a corporate shake-up which could cull more than 1,000 jobs.

The FTSE 100 giant has accelerated its plans to strip costs out of the business in response to a dramatic plunge in crude prices since June. It is understood that BP, which has 84,000 staff worldwide and 15,000 in the UK, could shed more than 1000 staff by the end of the process.

It comes as an Iranian official in the Opec oil cartel said crude prices could plunge as low as $40 a barrel in the near future if divisions among the producers widened.

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UK News Reports Royal Dutch Shell Quarterly Result

Screen Shot 2014-10-31 at 15.37.24DAILY EXPRESS: Oil giant Shell floats as prices sink

Extracts

ROYAL Dutch Shell unleashed an industry-beating rise in quarterly profit yesterday, despite falling oil prices, and vowed to keep slashing less-lucrative projects.

Finance chief Simon Henry said: “It’s quite likely we’ll take a very close look at investment levels where we have flexibility if we see oil price weakness persisting.”

FULL ARTICLE

Screen Shot 2014-10-31 at 15.40.26DAILY MAIL: Shell posts forecast-busting profit rise of 31pc despite slump in oil prices

Extracts

Shell has managed to weather the sharp drop in the price of oil since June, announcing forecast-busting results for the third quarter.

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Royal Dutch Shell issues shock profit warning

Friday 17 January 2014

Screen Shot 2013-10-01 at 07.56.54Shell dropped a bombshell on investors after warning that fourth quarter profit will be “significantly” lower than last year, blaming low production, high exploration costs and continuing problems with refining.

“It’s not good. When you’re talking about higher costs and lower production volumes, it’s a lethal combination,” said Nick Xanders, who heads European equity strategy at BTIG, the trading and brokerage firm.

FULL ARTICLE

Shell close to deal over ‘ruinous’ oil spill in Niger Delta

Screen Shot 2013-01-03 at 19.46.51For five years a London law firm and Anglo-Dutch oil giant have argued over reparations for one of the world’s worst spills in Africa’s oil heartland. But now, as fishing villages on the banks of the Niger Delta continue to count the cost of the leaks, compensation claims are finally due to be settled. Royal Dutch Shell will tomorrow seek to reach an “acceptable agreement”

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Five years after fishing and farming livelihoods were ruined, oil giant is ready to agree compensation which could reach £100m

For five years a London law firm and Anglo-Dutch oil giant have argued over reparations for one of the world’s worst spills in Africa’s oil heartland. But now, as fishing villages on the banks of the Niger Delta continue to count the cost of the leaks, compensation claims are finally due to be settled.

Royal Dutch Shell will tomorrow seek to reach an “acceptable agreement” with inhabitants of the cluster of Nigerian fishing villages over claims their livelihoods were ruined by the spills in 2008.

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Gardai deny gas firm gave them alcohol worth €35k

GARDAI have rejected claims that officers policing the Corrib Gas protests were given alcohol worth €35,000 by the company building the pipeline.

An oil services company has claimed it delivered the alcohol in an unmarked van to Belmullet garda station in Mayo at Christmas 2007 following instructions by Shell E&P Ltd.

And OSSL, based in Bangor Erris, also claims it was charged with providing “accommodation services” to local residents, including home improvements, tennis courts, donating kitchen appliances and paying school fees.

The company, which worked with Shell since 2002, had its contract terminated in 2010, and claims it is owed money by Shell E&P Ltd.

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The height of madness? Or a lofty ambition as six women scale Shard to make a point?

Ambitious Greenpeace stunt drew neck-craning crowds and widespread media coverage for protest against Shell’s Arctic drilling

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As Western Europe’s tallest building, the Shard skyscraper in London already gets its fair share of attention. But commuters travelling to work today glimpsed an even more amazing sight: six women scaling the 310m-high landmark in protest against Shell’s drilling in the Arctic.

Taking part in a hugely ambitious Greenpeace stunt that took months to plan, the climbers quickly drew a large crowd of neck-craning, eye-shielding spectators to the foot of the London Bridge building.

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Shell ‘uses sabotage claims to avoid blame for Nigeria oil spills’

Screen Shot 2013-02-03 at 10.25.25The National Contact Point (NCP) agency will today give Shell a rap on the knuckles for its reporting of its spills in the Niger Delta region, some of which have been highly damaging to the environment. NCP has reached this conclusion following an investigation into accusations by Amnesty International and Friends of the Earth International that Shell has exaggerated the proportion of spills caused by sabotage to avoid paying compensation and to reduce damage to its reputation.

TOM BAWDEN: WEDNESDAY 19 JUNE 2013

Shell’s persistent claims that theft and sabotage are responsible for almost all the oil spills at its operation in Nigeria could have been exaggerated, an international watchdog has found.

The National Contact Point (NCP) agency will today give Shell a rap on the knuckles for its reporting of its spills in the Niger Delta region, some of which have been highly damaging to the environment.

The agency, set up to oversee OECD guidelines on multi-national companies, said: “Given the many years of discussion about the causes of oil spills in Nigeria, Royal Dutch Shell management should have had a more cautious attitude about the percentage of oil spills caused by the sabotage,” noting that the data they are based on is “not absolute”.

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BG Group CEO Chris Finlayson, past indiscretions at Shell

In summary, Finlayson (right) sees himself as a victim to the goings-on in 1999, just one of many victims in the then Shell Expro, described in our Audit notes as a hostile environment of extreme denial.  I can concur that Chris was a victim, when for example he made light of the Touch F-All scandal in various press statements of which there is an audio record he did so because his Brent Field Manager Jorn Berget misled him.  He soon realised this but despite many attempts by me and his Internal Audit Manager he would not retract the statement.  In fear, no doubt for his job, his future promotion prospects etc, and led by the ear by his mentor and boss Malcolm Brinded he toed the line.

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US accuses Shell of ‘screwing up’

Mr Salazar said: “Shell screwed up in 2012 and we’re not going to let them screw up when they try to drill in the Arctic again.”

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The i: Friday 29 March 2013 Page 48 of Business Section

By Tom Bawden

Shell’s beleaguered campaign to produce oil in the Arctic has suffered a further setback yesterday  when US Interior Secretary Ken Salazar said the company “screwed up” its attempt to drill in Alaska last year.

Furthermore, he said, Shell will not be allowed to drill in the area again until it demonstrates it can handle Arctic conditions and commissions an independent audit of its management systems.

The US Department of the Interior ordered a 60-day review in January of Shell’s plans to drill off the coast of Alaska after a series of incidents in the area that culminated in the grounding of the Kulluk rig.

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Shell executive responsible for controversial Arctic campaign to step down

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Campaigners hope move heralds end of programme

Kevin Rawlinson  Alex Jackson  Friday 22 March 2013

Shell’s controversial plan to drill in the Arctic has been dealt a further blow after it confirmed today that the man running its exploration programme in North America is to leave the company.

Campaigners said they hoped the move heralded the beginning of the end for the programme, which has been vehemently opposed by Greenpeace, among others.

“This disaster should force them to mothball the programme completely, but it will depend on whether or not shareholders can handle sinking more money into a project with minimal return for the foreseeable future,” one campaigner told the Independent.

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Shell feels chill of Arctic problems

…the City is concerned about Shell’s prospects in the Arctic after the company’s Kulluk drilling rig ran aground off the coast of Alaska on New Year’s Eve. The grounding was the latest in a series of mishaps in Shell’s quest to extract oil from the polar region, which has cost the company £3.2bn but has yet to result in the discovery of any commercial quantities of oil.

Oil giant’s profit to soar as price rises and China booms

Tom Bawden: Sunday 27 January 2013

Shell will announce a bumper set of 2012 results this week, though the sheen of a profit leap will be removed as it updates the market on its problems in the Arctic.

The FTSE 100 oil giant is set to report on Thursday that net income soared by 42 per cent to $7bn (£4.4bn) last year on the back of increased oil production from Canada’s tar sands and rising output from its liquefied natural gas operations in Qatar.

Shell also benefited from a strong oil price and increased profit margins at its refining business, amid declining competition after refineries, such as Coryton in Essex, closed. China’s buoyant car market will have also fuelled the results.

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Shell faces fresh scrutiny over Alaskan drilling

The pressure is mounting on Shell to abandon its quest for Arctic oil after the US government ordered two reviews into the company’s activities off the Alaskan coast… after a series of accidents in the area involving its ships, rigs and equipment that culminated in the grounding of the rig Kulluk… The US Coastguard…opened an investigation… which could lead to civil or criminal penalties for Shell or its staff.

The pressure is mounting on Shell to abandon its quest for Arctic oil after the US government ordered two reviews into the company’s activities off the Alaskan coast that could halt its planned drilling campaign.

The Obama administration has ordered a sweeping review of Shell’s plans to drill in the Arctic after a series of accidents in the area involving its ships, rigs and equipment that culminated in the grounding of the rig Kulluk near an Alaskan island on New Year’s Eve.

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BG’s new boss ‘breached safety rules at Shell in the North Sea’

“TOUCH F*** ALL” STORY BELOW PUBLISHED IN UK AND AUSTRALIAN NEWSPAPERS WAS SOURCED FROM THIS WEBSITE: RoyalDutchShellPlc.com

SHELL HAS RESPONDED WITH WHOPPING GREAT LIES AND ACCORDINGLY WILL TAKE NO LEGAL ACTION BECAUSE IT DID OPERATE A TOUCH F*** ALL POLICY ON NORTH SEA PLATFORMS AND SAFETY RECORDS WERE ROUTINELY FALSIFIED. EVEN THE LIFEBOATS ON SHELL PLATFORMS WERE UNSEAWORTHY. THERE IS AN ENCYCLOPEDIA ARTICLE ABOUT SHELL’S NOTORIOUS TOUCH F*** ALL POLICY. IF CHRIS FINLAYSON, THE NEW CEO OF BG GROUP, DENIES THE ALLEGATIONS, THEN HE SHOULD SUE SHELL WHISTLEBLOWER BILL CAMPBELL, THE RELEVANT NEWSPAPERS, AND ME. IF NO LEGAL ACTION IS TAKEN THEN THE PUBLIC AND BG GROUP EMPLOYEES WILL BE ABLE TO DRAW THE RIGHT CONCLUSION. THEIR NEW BOSS, LIKE SHELL, PUT PROFITS BEFORE THE LIVES OF MERE EMPLOYEES. 

ARTICLE PUBLISHED YESTERDAY BY JOHN DONOVAN: Finlayson is no Chapman!

Mark Leftly: Thursday 13 December 2012

Oil & gas giant BG Group has asked a former Shell executive who was once accused of dangerous health and safety breaches in the North Sea to be its new boss.

Chris Finlayson, who is a BG board member and joined from Shell in 2010, was one of the men who were accused by an insider of having been involved in a Touch F*** All policy when he was a director for the company’s UK division in the late 1990s.

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Selection of article links 2 November 2012

Selection of article links provided by a regular contributor

John

These articles may be of interest to your visitors:

Sandy causes 300000 gallon oil spill on U.S. East Coast

Motiva, a joint venture of Shell Oil and Saudi Refining, said the spill occurred earlier this week when Sandy damaged two diesel storage tanks …

Shell’s Natural Gas Marketing Aiming Squarely at Nuclear Energy …

Energy Collective: While browsing this morning, I ran across a well-designed, and probably well-funded ad campaign from Shell Oil touting natural gas as a …

Seeing Through the Smoke: Oil, Security, and the Environment in …

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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 had to admit that it had uncovered another 900 million barrels of doubtful crude in its reserves and was likely to uncover 600 million more?”

Sunday Express (UK): Shell boardroom changes backfire on reserves news: “ONE OF the world’s most influential financial firms has given the thumbs down to an announcement from Shell it is to end its 97-year-old dual board structure.”: “…financial ratings agency Standard & Poor’s said it had adjusted Shell’s investment rating downwards to “creditwatch negative”, a status which implies there may be more bad news to come from the company.”

Mail on Sunday (UK):  Shell bosses in a charm offensive: “The Board, headed by Jeroen van der Veer, will see thousands of staff to explain the proposed changes and shore up the mood of the employees damaged by scandals over Shell’s inflated oil reserves.”: “Last week, Shell was forced to downgrade its estimates of proven oil reserves for the fifth time this year. Reserves are now a third lower than originally thought”

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A DREADFUL DAY FOR SHELL SHAREHOLDERS, ESPECIALLY UK SHELL SHAREHOLDERS

FROM OUR OCTOBER 2004 SHELL NEWS ARCHIVE

Friday 29 October, 2004 – A DREADFUL DAY FOR SHAREHOLDERS IN SHELL TRANSPORT AND TRADING COMPANY PLC

The Times (UK): The Hague for head office: “ALTHOUGH it maintains otherwise, Shell is effectively going Dutch…”: “From May, the big decisions will be taken by a new board in The Hague, which has seven Dutch members and only four Britons.”: “…from 2006 it will hold AGMs only in The Hague.”

The Times (UK): Fear of new Shell reserves downgrade: “ROYAL Dutch/Shell yesterday raised fears that it may have to write down its reserves by more than 1.5 billion barrels…”: “With less than 60 per cent of its reservoir audit completed, Shell was unable yesterday to put a ceiling on the potential downgrade of its reserves…”

Daily Telegraph (UK): Dutch chiefs take helm of merged Shell: “The radical move, which needs to be approved by shareholders, is likely to be seen as a Dutch takeover of the energy giant…”: “The news was overshadowed by yet more revelations about the company’s “proven” reserves…”

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Shell supertanker steers into deeper waters

FROM OUR SHELL NEWS ARCHIVE SEPT 2004

The Independent: Michael Harrison’s Outlook: Shell supertanker steers into deeper waters

“brotherly love has been notable for its complete absence inside the South Bank politburo, where the motto has been stab someone in the back before you are made to walk the plank yourself.”: Judging by the reaction in the City to the company’s strategic review, investors are not overflowing with the milk of human kindness either.”

Posted 24 September 2004

“Let brotherly love continue”, read the gilded inscription above the doorway of the livery hall where Shell yesterday unveiled its latest version of what passes for a strategy. Chance would be a fine thing. Far from continuing, brotherly love has been notable for its complete absence inside the South Bank politburo, where the motto has been stab someone in the back before you are made to walk the plank yourself.

Judging by the reaction in the City to the company’s strategic review, investors are not overflowing with the milk of human kindness either. The truth is that Shell will not begin to emerge from the black cloud which enveloped it in January until it has fundamentally changed the way the business is run and governed. That is still some months away and no amount of management gobbledegook about raising performance bars and the like, of which there was plenty on offer yesterday, will make much of a difference in the meantime.

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The Independent: Ballad of the Rossport five

FROM OUR SEPT 2005 SHELL NEWS ARCHIVE

The Independent: Ballad of the Rossport five

The men held in Ireland’s Cloverhill prison now have not only their own title – the Rossport Five – but their own ballad as well, which lauds their gallantry and decries the energy giant Shell as an “ignoble predator”.

“The campaign received a boost in recent months when it was revealed that consultants brought in by the government were not independent, as had been claimed, and in fact had connections with Shell.”

Wednesday 7 Sept 2005

It is David versus Goliath as residents of Mayo try to halt Shell’s efforts to bring Ireland’s gas ashore. They say the oil giant’s plans are unsafe – and five protesters are now in jail.

David McKittrick reports

“Come all ye who love liberty, and listen to my tale,

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Money talks for Shell’s singing director

FROM OUR AUGUST 2004 SHELL NEWS ARCHIVE…

The Independent: Michael Harrison’s Outlook: Money talks for Shell’s singing director

“Shell is hardly a byword for good corporate governance, and yesterday it lived up to its reputation by producing another stonker…”: “As usual, Shell is unable to cast any light in the darkness as to why the two men’s severance arrangements are so different in size and nature. Perish the thought that one of them is being paid to grass up the other.”

13 August 2004

Shell is hardly a byword for good corporate governance, and yesterday it lived up to its reputation by producing another stonker of a pay-off for one of the directors caught up in its reserves reporting scandal.

On this occasion, however, there is a twist in the tail. Walter van de Vijver is going to have to sing for his severance. In order to qualify for his full £2.5m package, the company’s former head of exploration and production will have to co-operate with the “relevant authorities” as they conduct their various criminal inquiries into how Shell came to invent quite so many non-existent barrels.

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Shell fights on for Cove

Mark Leftly: Sunday 24 June 2012

Royal Dutch Shell is expected to turn up the heat in its battle for Cove Energy, the Mozambique-focused gas explorer that has generated huge interest among the supermajors.

Cove shareholders have until Wednesday to accept Shell’s 220p-a-share bid, which was tabled in April but has since been trumped by an offer of 240p, or £1.2bn, from Thailand’s PTT Exploration & Production. Shell has already extended its offer once, but can do so again as an absolute deadline cannot be enforced until mid-July.

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Market Report: $10bn if Shell cracks it with Arctic drilling

Toby Green Wednesday 20 June 2012

Environmentalists may want to look away now. Royal Dutch Shell’s search for oil in the Arctic has not been short of controversy, coming under attack from, among others, Xena: Warrior Princess actor Lucy Lawless, who earlier in the year boarded one of the energy giant’s ships in protest against the drilling.

Yet yesterday came a reminder why Shell is pushing on with its quest — money, and rather a lot of it. Ten billion dollars (£6.4bn) in fact, according to the calculations of Nomura’s analysts, who think that is how much Shell could net from the region.

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Shell opens talks about a return to Nigeria’s troubled Ogoni region

FROM OUR ARCHIVES…

The Independent: Shell opens talks about a return to Nigeria’s troubled Ogoni region

By Rachel Stevenson

01 June 2005

More than 12 years since it fled the Nigerian region of Ogoni in fear at the growing violence towards its operations from the local population, oil giant Shell has reopened talks with the people of the Ogoni about a possible return.

Representatives of the Ogoni people, the Nigerian federal and state governments, and Shell have all pledged to attempt reconciliation in an effort to bring stability to the Ogoni region. Since 1990, Ogoni has been dogged by violence, crime, corruption, and poverty.

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Shell seeks to draw a line after fourth cut in reserves

FROM OUR ARCHIVES…

Shell seeks to draw a line after fourth cut in reserves

By Michael Harrison, Business Editor

25 May 2004

Royal Dutch-Shell, the crisis-torn oil giant, yesterday cut its proven reserves for the fourth time this year but then sought to reassure the City that it had drawn a line at last under the fiasco.

The latest downgrade means that Shell has now removed 4.5 billion barrels of oil from the proven category, equivalent to just under a quarter of its total reserves.

Malcolm Brinded, the head of exploration and production for Shell, said he was as sure as he could be that this would be the last revision to reserves estimates. “We are not planning to make further changes but you can never say never,” he added.

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Shareholders shake Shell with pay vote

23 May 2012

Shell became the latest company to receive a bloody nose yesterday, as more than a tenth of the oil giant’s investors failed to approve the pay awards of its top-level executives.

Despite Shell reporting a 54 per cent jump in profits last year, just over 9 per cent of investors voted against the pay award for chief executive Peter Voser, which more than doubled over the period. Including abstentions, 11 per cent of shareholders failed to back Shell’s remuneration report, which also included a €2.52m (£2m) severance payment for Malcolm Brinded, who stepped down as head of exploration and production in April.

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India success makes Cairn a worthy hold

FROM OUR ARCHIVES…

Combined with an oil price higher than ever, Cairn looks to be sitting very pretty. Much to the embarrassment of Shell, of course, which sold the Rajasthan field to Cairn two years ago for just £4m.

18 May 2004

The oilfields of India are proving to be more like gold to Cairn Energy, which yesterday announced yet more success in its Rajasthan site.

The second stage of drilling following its original find has not only confirmed initial expectations but led to an upgrade in its estimated reserves. The lowest hope had been for 50 million barrels from the site; now it is for 100 million barrels.

Combined with an oil price higher than ever, Cairn looks to be sitting very pretty. Much to the embarrassment of Shell, of course, which sold the Rajasthan field to Cairn two years ago for just £4m.

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BP and Shell fight over African oil find

Italian search for partner to drill massive field off Mozambique attracts biggest energy players

Mark Leftly: SUNDAY 18 MARCH 2012

BP and Royal Dutch Shell are looking at a $4bn (£2.5bn) stake in a gas field in Mozambique, a sale that would confirm East Africa as the hottest growth area in world energy.

Eni, the Italian oil and gas giant, has claimed that the Area-4 gas find is the biggest in its history, but is looking to sell down its 70 per cent stake to find a partner who can help shoulder the capital expenditure.

There has been a huge surge in interest in the region, and several parties are understood to have flown to Milan to discuss buying a 20 per cent share of the field. Even taking the lower estimates of similar deals in the region, and ignoring the probable premium to work with an established player like Eni, that stake should be worth more than $4bn.

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Shell oil protesters climb National Gallery

Graphic from Greenpeace website

Tuesday 21 February 2012

Environmental campaigners climbed to the roof of the National Gallery today to stage a protest against energy giant Shell.

They scaled the gallery in London’s Trafalgar Square, where an evening reception is being held for Shell, saying they wanted to demonstrate against plans to drill for oil in the Arctic this summer.

The campaigners, from Greenpeace, dropped a 40-metre square banner, which has a picture of an oil rig and the words It’s No Oil Painting, down the front of the gallery.

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Europe is too emotional about fracking, says Shell chief

Tom Bawden: Friday 03 February 2012

Shell’s chief executive, Peter Voser, called on Europe for a less “emotional” response to fracking, as he outlined plans to accelerate the oil giant’s use of the controversial technology used to release hydrocarbons from rocks.

Mr Voser said Shell would invest $6bn (£3.8bn) to appraise, explore and develop gas and oil reserves contained in rocks this year, as it looked to significantly expand the volume of hydrocarbons it produces.

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Bloody nose for OFT in row over tobacco price-fixing

Tom Bawden Tuesday 13 December 2011

The Office of Fair Trading suffered a setback yesterday after a consortium of leading tobacco and retail groups overturned a previous ruling of unlawful pricing.

Imperial Tobacco, the maker of Golden Virginia rolling tobacco and Superkings, saw its £112.3m penalty reversed, and Co-op, Morrisons, Asda and Royal Dutch Shell were also successful in overturning their cases in front of the Competition Appeal Tribunal.

Imperial said it would now apply to recover its “considerable” legal costs. The case had alleged that two manufacturers and 10 retailers fixed prices on cigarettes, hand-rolled tobacco, pipe tobacco and cigars between 2001 and 2003, resulting in a total of £225m in fines last year, the biggest the consumer watchdog had levied.

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Oil exploration under Arctic ice could cause ‘uncontrollable’ natural disaster

Any serious oil spill in the ice of the Arctic, the “new frontier” for oil exploration, is likely to be an uncontrollable environmental disaster despoiling vast areas of the world’s most untouched ecosystem, one of the world’s leading polar scientists has told The Independent.

By Michael McCarthy, Environment Editor: Tuesday, 6 September 2011


Any serious oil spill in the ice of the Arctic, the “new frontier” for oil exploration, is likely to be an uncontrollable environmental disaster despoiling vast areas of the world’s most untouched ecosystem, one of the world’s leading polar scientists has told The Independent.

Oil from an undersea leak will not only be very hard to deal with in Arctic conditions, it will interact with the surface sea ice and become absorbed in it, and will be transported by it for as much as 1,000 miles across the ocean, according to Peter Wadhams, Professor of ocean physics at the University of Cambridge.

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Shell admits liability for huge oil spills in Niger delta

…amount leaked into the local environment could be as much as 10 million gallons.

…”one of the most devastating oil spills the world has ever seen…”

By Richard Hall: Thursday, 4 August 2011

Oil company Shell could be forced to pay hundreds of millions of dollars after accepting responsibility for two devastating oil spills in Nigeria’s Ogoniland region.

The agreement comes after the community in the Delta region of Nigeria brought a class-action lawsuit against Shell in the UK, alleging that spills in 2008 and 2009 had destroyed the environment and ruined their livelihoods.

Until now, Shell has claimed that less than 40,000 gallons were spilt in the accidents. But experts who have studied the spills in Bodo, Ogoniland, said the amount leaked into the local environment could be as much as 10 million gallons.

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Secret memos expose link between oil firms and invasion of Iraq


By Paul Bignall

Tuesday, 19 April 2011

Plans to exploit Iraq’s oil reserves were discussed by government ministers and the world’s largest oil companies the year before Britain took a leading role in invading Iraq, government documents show.

Iraq’s burgeoning oil industry: Click HERE to upload graphic (160k)

The papers, revealed here for the first time, raise new questions over Britain’s involvement in the war, which had divided Tony Blair’s cabinet and was voted through only after his claims that Saddam Hussein had weapons of mass destruction.

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UK held talks with oil firms before Iraq invasion -paper

LONDON, April 19 | Mon Apr 18, 2011 10:29pm EDT

(Reuters) – Britain discussed plans to exploit Iraq’s oil reserves with some of the world’s biggest oil companies five months before it joined the United States in invading the country, the Independent newspaper said on Tuesday.

Citing documents it said were obtained under a Freedom of Information Act request by campaigner and author Greg Muttitt, the newspaper said at least five meetings were held between government officials and oil majors BP (BP.L) and Royal Dutch Shell (RDSa.L) in October and November 2002.

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BP executives may face jail for manslaughter over Gulf disaster

The Independent

Tony Hayward faced a barrage of criticism when US politicians claimed that he stonewalled their questions last year

By David Usborne in New York Wednesday, 30 March 2011

Managers of BP could face manslaughter charges when prosecutors in the United States finally conclude their criminal investigation into the Deepwater Horizon explosion in the Gulf of Mexico last April that killed 11 rig workers and triggered the worst oil spill in US history.

The mere possibility that these and other charges may now be on the table at the US Justice Department, first reported last night by Bloomberg News, put new pressure on the shares of the energy giant.

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Shell’s Voser given pay rise of 62 per cent

The Independent

??By Sarah Arnott

Wednesday, 16 March 2011

Peter Voser, the chief executive of Shell, saw his earnings rocket by 62 per cent to $7.3m (£4.5m) last year.

The increase reflected his first full year in the top job, but the majority of it came from bonus payments after the oil giant beat its targets for cash flow, project delivery and gas production and safety, Shell’s annual report said.

SOURCE ARTICLE

City awaits Royal Dutch Shell’s strategic review

Sunday, 13 March 2011

Oil giant Royal Dutch Shell will announce a strategic review on Tuesday.

The market will be looking for news on upcoming projects, cash flow targets and potential disposals. Analysts at Credit Suisse said that 2011 is a “transition year”, with a slew of mega-projects due to start in 2012. The City will also seek clarification over why capital expenditure has been higher than forecast. There are fears that this may signal high cost inflation in the sector.

SOURCE ARTICLE

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Shell oil exploration threatens one of the world’s great wonders

Anglo-Dutch conglomerate applies for permit to drill just 30 miles off World Heritage-listed coral reef in Western Australia

PHOTO ALAMY: The Ningaloo Reef, under threat from Shell’s plans to drill for oil nearby

By Kathy Marks

Wednesday, 9 March 2011

Shell Oil has come under heavy criticism for planning an oil and gas drilling site that could threaten a coral reef off the coast of Australia that is among the most valuable marine ecosystems on the planet.

Just 30 miles away from the marine park that protects Ningaloo Reef, a haven for sealife that was recently nominated for World Heritage status, the proposed drilling project has raised fears of an oil spill that could seriously damage the reef and the creatures that depend on it. Warnings of the risks come shortly after a major international report that three quarters of the world’s coral reefs are under severe threat of ecological catastrophe from overfishing, pollution, and climate change. Ningaloo is one of the minority that is currently relatively protected from such dangers.

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