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Posts Tagged ‘Chris Fay’

Little known key role of Michiel Brandjes in Shell reserves scandal

Screen Shot 2014-03-09 at 23.42.12However, unbeknown to Van de Vijver, Michiel Brandjes (right), who was alarmed by the findings of the report, sent a copy to a New York law firm Cravath, Swaine & Moore. This meant that events were no longer in the control of Shell. Instead, Shell’s most sensitive issue since its close association with Adolf Hitler and the Nazis several decades ago, had been disclosed to an outside firm, that had to consider and protect its own reputation.

By John Donovan

In May 2003, Frank Coopman, the then Chief Financial Officer of Shell EP, delivered bad news about Shell’s operations in Nigeria to the Chief Executive of Shell EP, Walter van de Vijver.

Van de Vijver sent Coopman back to Nigeria to investigate further.

The subsequent findings, set out in a status report, were even more devastating, revealing an overstatement of 1.1 billion boe.

Van de Vijver had instructed a team led by Coopman to work on the reserves issues.

The team included a top Shell lawyer, Michiel Brandjes, the then Company Secretary of Royal Dutch Petroleum. read more

Marketing Week: Don claims first round in Shell libel action

Shell UK was ordered to pay costs for a preliminary hearing at the High Court which took place earlier this week. The libel case will be heard before a jury and Don Marketing will have the power to subpoena top Shell UK management, including chairman Chris Fay, to give evidence.

Oil majors reining in exploration says Expro

Daily Telegraph: Oil majors reining in exploration says Expro

 

By Christopher Hope, Business Correspondent (Filed: 03/06/2004)

 

Expro International, the oil services group, yesterday dived into the red and appeared to criticise big oil companies for using profits from high prices to give more cash to shareholders rather than investing in exploration. 

 

The comments come weeks after BP and Shell announced plans for more share buybacks to take advantage of the high value of crude oil, down $2.22 at $36.86 a barrel last night.

 

Expro posted a £4.5m pre-tax loss in the 12 months to the end of March, compared with a profit of £34.4m last time, on turnover down 7pc to £208.4m. read more

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