Royal Dutch Shell Plc .com News and information on Royal Dutch Shell Plc 2018-06-17T20:01:26Z http://royaldutchshellplc.com/feed/atom/ WordPress https://i0.wp.com/royaldutchshellplc.com/wp-content/uploads/2017/04/cropped-Screen-Shot-2017-03-31-at-15.44.47.jpg?fit=32%2C32 John Donovan http://shellnews.net/blog/DonovanvRoyalDutchShell.htm <![CDATA[Dutch ecologist party asks for investigation of Shell dividend tax payment]]> http://royaldutchshellplc.com/?p=97151 2018-06-17T20:01:26Z 2018-06-17T20:01:26Z Dutch ecologist party asks for investigation of Shell dividend tax payment was first posted on June 17, 2018 at 9:01 pm.
©2018 "Royal Dutch Shell Plc .com". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at john@shellnews.net
]]>

Dutch ecologist party asks for investigation of Shell dividend tax payment

Sat 16 June 2018

The Dutch ecologist party, Groen Links, has asked parliament this Saturday to appoint a commission to investigate payment of taxes on dividends by multinational oil company Shell. According to newspaper Trouw, company has since 2005 avoiding this rate “with permission of Dutch Treasury, through Jersey, island of channel of La Mancha [a dependence British Crown]”. During those years, “Shell has distributed among its shareholders about 45 billion euros, of which 7 billion should have been entered in coffers of state.” Shell claims that it has not violated tax rules. FULL ARTICLE


Dutch ecologist party asks for investigation of Shell dividend tax payment was first posted on June 17, 2018 at 9:01 pm.
©2018 "Royal Dutch Shell Plc .com". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at john@shellnews.net
]]>
0
John Donovan http://shellnews.net/blog/DonovanvRoyalDutchShell.htm <![CDATA[Italy’s top court rejects appeal to stymie Shell, Eni corruption trial]]> http://royaldutchshellplc.com/?p=97145 2018-06-13T17:40:17Z 2018-06-13T17:40:17Z Italy’s top court rejects appeal to stymie Shell, Eni corruption trial was first posted on June 13, 2018 at 6:40 pm.
©2018 "Royal Dutch Shell Plc .com". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at john@shellnews.net
]]>

REUTERS STAFF: JUNE 13, 2018 / 4:03 PM

ROME (Reuters) – Italy’s Supreme Court threw out an appeal from Shell and four former Shell managers to stymie a corruption trial that has also involved Eni’s chief executive, legal sources said on Wednesday.

The long-running graft case on alleged corruption in Nigeria, revolves around the 2011 purchase by Eni and Shell of Nigeria’s OPL-245 offshore oilfield for about $1.3 billion. The trial began last month, with the next hearing set for June 20.

The appeal was aimed at reversing the trial to the preliminary hearing stage due to what it said were procedural errors, but the court decided the appeal was inadmissible.

Nine current and former executives or contractors, including Eni Chief Executive Claudio Descalzi, have been accused by Italian prosecutors of paying bribes to secure the license to explore OPL-245. The field holds an estimated 9 billion barrels of oil but has never entered production.

All have denied wrongdoing. An Eni spokesman on Wednesday reiterated that Eni denied any wrongdoing.

If found guilty, those on trial could face jail.

A Shell spokeswoman said on Wednesday: “Based on our review of the Prosecutor of Milan’s file and all of the information and facts available to us, we do not believe that there is a basis to convict Shell or any of its former employees.”

As a rule, the Supreme Court does not comment on its decisions.

Reporting by Domenico Lusi in Rome, additional reporting by Valentina Za in Milan, writing and additional reporting by Shadia Nasralla in London; Editing by Dale Hudson/David Evans

SOURCE


Italy’s top court rejects appeal to stymie Shell, Eni corruption trial was first posted on June 13, 2018 at 6:40 pm.
©2018 "Royal Dutch Shell Plc .com". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at john@shellnews.net
]]>
0
John Donovan http://shellnews.net/blog/DonovanvRoyalDutchShell.htm <![CDATA[Italy’s top court tosses appeal in Shell, Eni corruption trial]]> http://royaldutchshellplc.com/?p=97140 2018-06-13T17:46:24Z 2018-06-13T17:32:15Z Italy’s top court tosses appeal in Shell, Eni corruption trial was first posted on June 13, 2018 at 6:32 pm.
©2018 "Royal Dutch Shell Plc .com". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at john@shellnews.net
]]>
|By: , SA News Editor

Italy’s Supreme Court rejects an appeal from Royal Dutch Shell (RDS.A, RDS.B) and four former Shell managers to reverse a trial on alleged corruption in Nigeria, which also has implicated Eni (NYSE:E) CEO Claudio Descalzi.

The appeal hoped to reverse the trial to the preliminary hearing stage due to what it said were procedural errors, but the court ruled that the appeal was inadmissible.

Nine current and former company executives or contractors, including Descalzi, are accused by Italian prosecutors of paying bribes to secure the license to explore Nigeria’s OPL-245 offshore oilfield, which holds ~9B barrels of oil but has never entered production.

SOURCE


Italy’s top court tosses appeal in Shell, Eni corruption trial was first posted on June 13, 2018 at 6:32 pm.
©2018 "Royal Dutch Shell Plc .com". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at john@shellnews.net
]]>
0
John Donovan http://shellnews.net/blog/DonovanvRoyalDutchShell.htm <![CDATA[Academic Report reveals true extent of pollution in Niger Delta following Shell oil spills]]> http://royaldutchshellplc.com/?p=97137 2018-06-13T15:32:15Z 2018-06-13T05:12:10Z Academic Report reveals true extent of pollution in Niger Delta following Shell oil spills was first posted on June 13, 2018 at 6:12 am.
©2018 "Royal Dutch Shell Plc .com". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at john@shellnews.net
]]>
Academic Report reveals true extent of pollution in Niger Delta following Shell oil spills

The lawyer representing over 30,000 Nigerians following two devastating oil spills in the Niger Delta has expressed his grave concern following the publication of an academic paper which found that the environmental damage around the site of the two spills has worsened significantly after delays to clean up the region.

The Bodo community was devastated by two large oil spills in October and December 2008 from Shell’s pipelines in the Niger Delta which caused the largest destruction of mangrove habitat in the history of oil spills.

In 2015, following litigation in the UK Courts by law firm Leigh day on behalf of the community, Shell settled the claims for £55m and Bodo became the only community in the entire Niger Delta, out of hundreds of polluted communities, which is subject to an internationally recognised clean-up operation, the Bodo Mediation Initiative (BMI).

The academic paper, which was only made public last month, follows analysis undertaken in 2015 and commissioned by the BMI.

The research was led by Mr Kay Holtzmann, who was previously employed by the BMI to lead the clean-up of the Bodo community and Dr David Little, a former independent advisor to the BMI who represented the United Nations Environment Programme, whose 2011 report found extensive damage in the region.

Mr Holtzmann claims that Shell denied him permission to publish the study’s results in a scientific journal previously, the results have only now been made public.

The research concludes:

“Independent health officials should evaluate the chemistry data as soon as possible to determine the best course of action to protect the local people from any ongoing exposure to toxins of unknown but potentially significant magnitude.  This recommendation is made because of the very high sediment concentrations of aromatics (EC5–EC44) and other hydrocarbons, especially PAHs…”

“To the extent that anyone still relies on potentially-contaminated water for drinking and household use, they should be provided with clean water until remediation is complete, as recommended by UNEP (2011)…”

“A properly designed confidential medical screening programme and epidemiological investigation might also be among the appropriate responses to contamination in Bodo, and similar recommendations were made for Ogoniland by UNEP (2011).”

Last week a High Court judge ruled that the Bodo community should be allowed to continue their legal action against Shell in the UK Courts to force Shell to clean up the pollution.

This follows a decision by the community to put on hold an ongoing legal challenge in the London High Court to force Shell to clean up their environment. This decision was made in response to the clean-up initiative but the Community want to be able to take further legal action as they believe it is the only reason that Shell finally engaged to clean up its oil.

Dan Leader from the international team at Leigh day said:

“We continue to have grave concerns over the levels of pollution in the Niger Delta from these oil spills and the effect this pollution has on our clients. This research confirms our worst fears and we cannot understand why Shell has refused to allow it to be made public before now.

“We have been writing to Shell for 12 months to ask them what public health measures they will be taking to protect the population, at this point they have refused to put any measures in place.”

ENDS


Academic Report reveals true extent of pollution in Niger Delta following Shell oil spills was first posted on June 13, 2018 at 6:12 am.
©2018 "Royal Dutch Shell Plc .com". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at john@shellnews.net
]]>
1
John Donovan http://shellnews.net/blog/DonovanvRoyalDutchShell.htm <![CDATA[Malabu OPL 245 Scandal: How Etete bought luxury Dubai properties with funds]]> http://royaldutchshellplc.com/?p=97117 2018-06-12T18:10:19Z 2018-06-12T18:06:16Z Malabu OPL 245 Scandal: How Etete bought luxury Dubai properties with funds was first posted on June 12, 2018 at 7:06 pm.
©2018 "Royal Dutch Shell Plc .com". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at john@shellnews.net
]]>

 and 

A leak of private property data in Dubai has shed new light on how the proceeds of a notorious $1.3 billion oil deal involving Shell may have been spent on luxury villas in the secretive Arab Emirate.

PREMIUM TIMES’ UK partner, Finance Uncovered, has discovered the name of former Nigerian oil minister Daniel Etete among thousands of property and residency records compiled by assorted real estate professionals in Dubai. The leak was obtained by the U.S. non-profit C4ADS, passed to the Organized Crime and Corruption Reporting Project and seen by Finance Uncovered.

Mr Etete was the suspected mastermind behind a 2011 deal known as OPL245 that is alleged to be one of the most corrupt in the history of the oil industry.

Mr Etete, as well as oil giants Shell and Eni of Italy, and a number of their former executives, are due to stand trial on various corruption charges relating to OPL245 in Italy on June 20.

It is said to be one of the biggest trials in corporate history.

All the accused deny wrongdoing.

Investigators have spent seven years trying to trace where hundreds of millions of dollars have been stashed.

But in a new twist, Finance Uncovered has found evidence suggesting that Mr Etete may have bought two luxury properties in Dubai after he received more than $800 million from the deal he made with Shell and Eni.

One property is in the exclusive Emirates Hills, known as the “Beverly Hills of Dubai” – the postcode of choice for a host of notorious former presidents, including Robert Mugabe and his wife, Grace.

The link to OPL245 was established by an email address found in the property records and that was also in other files seen by Finance Uncovered in a separate investigation into Etete last year.

A business associate of Mr Etete in Dubai also told Finance Uncovered that the former minister had brought millions into the Emirate via an informal money changer.

Mr Etete did not respond to our questions about his property purchases.

His lawyer told Bloomberg last month there was no proof the deal had corrupted Nigerian officials. Mr Etete has also defended himself at length in the Nigerian media.

Barnaby Pace, an anti-corruption campaigner at Global Witness, said: “We know that the criminal and corrupt set up bolt-holes around the world in which to stash their dirty cash, with Dubai being a favoured spot for many.

“New agreements between Nigeria and the UAE to work together to track criminal suspects and their assets go into effect this month. This should be a test case to show whether Nigerian and UAE authorities can act quickly to ensure corruptly obtained assets are recovered for the benefit of the Nigerian people.”

The OPL245 Backstory

As oil minister in the last weeks of the corrupt Abacha military regime in 1998, Mr Etete awarded the prospecting rights to the huge OPL 245 block to Malabu Oil and Gas, a shell company in which he secretly held a major stake.

After years of acrimonious legal wrangling over its ownership, Shell and ENI jointly agreed to buy the block from Malabu for $1.3 billion in April 2011.

The deal was structured so that Shell and ENI would pay the money to the Nigerian government which would then pay $1.1 billion to Malabu.

A long-running investigation by an Italian prosecutor unearthed sufficient evidence for a Milanese judge last year to order the criminal trial of several senior former ENI and Shell executives, plus a host of intermediaries, including former MI6 spies who had been working for Shell, a former Russian diplomat and Etete himself.

The Italian prosecutor alleges the deal was corrupt and that various oilmen, fixers and Nigerian government ministers received tens of millions of dollars in personal kickbacks.

Of the $1.1 billion, Malabu initially received $801.5 million, paid out by the London branch of JP Morgan Chase Bank to two Nigerian bank accounts in August 2011.

Documents seen by Finance Uncovered show that a month later Malabu transferred $336.5 million of this to a Nigerian bank account of a company called Rocky Top Resources Limited.

Rocky Top Resources Ltd is a Nigerian-incorporated company.

These documents also show that Chief D L Etete – an alias of the former minister – issued regular written payment instructions to the bank.

Etete Splashes The Cash

Mr Etete immediately launched into an epic spending spree, according to a cache of OPL245 documents obtained separately by Finance Uncovered last year.

The papers included research from confidential documents from the FBI, which found that Rocky Top Resources made a $54 million payment towards a Bombardier private jet on the same day funds from Malabu were received.

Over the next 18 months, some $34 million would also flow from Rocky Top’s account in Nigeria to various companies and individuals in the United Arab Emirates.

The bulk of this money – $21.5 million – flowed at Etete’s prompting in regular, substantial dollops to a single UAE-registered company, Gunes General Trading LLC.

In May 2012, Mr Etete wrote to the bank handling his Rocky Top account to inform it he would be out of contact for the next fortnight, and that payment confirmation for the sum of $6 million to Gunes General Trading be sent to an email address for a P. Ghaderi.

This email address exactly matches the contact email in the property database obtained by the OCCRP for Dauzia Etete, the owner of an apartment in the Palm Jumeirah’s Marina Residences (Dauzia is Etete’s formal Nigerian first name).

Finance Uncovered also called a UAE mobile listed for the apartment in the leaked property data. It was answered by a man who confirmed he was Ghaderi, and that Mr Etete owned the property.

Mr Ghaderi said he fell out with Mr Etete several years ago but was vague about their precise business relationship.

The Dubai data does not reveal when Mr Etete bought the property but Mr Ghaderi said it was after the OPL245 deal. Nor does the data disclose how much Mr Etete paid for the property, but other apartments in the same block sell for at least $550,000.

That Etete was using some of the proceeds of OPL 245 to pay for Dubai property is also supported by a cluster of other payments Rocky Top made to Dubai in late 2012.

Rocky Top’s bank statements show it paid more than $100,000 to a Dubai home furnishings company, and a $5,284 payment to a Dubai real estate management agency on the same day in December 2012.

A final $1 million payment flowed from Rocky Top to Gunes General Trading a week later.

Mr Ghaderi said that Gunes had been one of Dubai’s many thriving informal money exchange businesses but had left the Emirate recently because the government had started taxing the sector. The U.S. government has cited Gunes separately for handling a $1 million payment in 2013 which violated sanctions against Iran.

Using an Arabic metaphor, Mr Ghaderi said that Mr Etete’s purchase of the Dubai Marina property was “just the ear of the camel” – but would not elaborate further.

The Dubai property leak also shows that as of 2015, a Dauzia Loya Etete owned a mansion in the exclusive Emirates Hills, known as “the Beverley Hills of Dubai” (Loya is Mr Etete’s formal middle name).

The contact for this property is a personal email address for Mr Etete that appears often in the OPL245 investigation documents seen by Finance Uncovered. The email is still active. When Finance Uncovered sent detailed questions to it for this story, the brief response elicited could be traced to an IP address in Dubai.

The mansion shares the Emirates Hills estate with the prestigious Address Montgomerie golf complex, designed by Scotland’s former Ryder Cup captain, Colin Montgomerie.

Billed as the most expensive postal code in the city, other Emirates Hills residents have reportedly included members of the Mugabe, Shinawatra, Bhutto and Gupta families (leaked emails from the #GuptaLeaks last year revealed that the Gupta property was at one point intended for the use of former South African president Jacob Zuma).

The property data indicates that Mr Etete’s mansion was worth a “net amount” of $3.4 million.

It is unclear from the data whether this is the amount Mr Etete paid for the property. Asking prices in the area currently range between $5.5 million and $22 million.

The OPL245 trial in Milan is due to start on June 20.

Shell has said it “does not believe there is a basis to convict Shell … [and] is not aware of any evidence to convict any former or current Shell employee.”

Eni has also expressed “total confidence” that neither it or its staff were involved in illegal dealings.

SOURCE


Malabu OPL 245 Scandal: How Etete bought luxury Dubai properties with funds was first posted on June 12, 2018 at 7:06 pm.
©2018 "Royal Dutch Shell Plc .com". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at john@shellnews.net
]]>
0