News and information on Royal Dutch Shell Plc.
The treatment of BP is seen as a bellwether of Kremlin attitudes to foreign investors, following the effective seizure of assets from Shell at Sakhalin after a long period of destabilisation.
Click to continue reading “BP ups stakes by accusing Putin of failing to stop hijack by oligarchs”
BP chairman Peter Sutherland warned that unless President Dmitry Medvedev backed up his promises to restore “the rule of law”, Western companies would likely turn their back on the country…
Click to continue reading “BP vents its frustration on Russian partners”
In 2006, environmental regulators threatened to shut down a vast oil and gas project off the Far East island of Sakhalin operated by Royal Dutch Shell PLC. Shell was forced to sell half its stake to state-owned Gazprom.
Click to continue reading “Boardroom Brawl Roils BP’s Russia Venture”
ST. PETERSBURG, Russia — The lineup told it all about Russia’s importance today. There, on one stage, sat the leaders of BP, Royal Dutch Shell, Chevron, Exxon Mobil, ConocoPhillips, Total, Schlumberger and Dow Chemical, as well as the chairman of the Russian energy giant Gazprom and the president of the Russian oil company Lukoil.
There have also been allegations about visa breaches and infringements of corporate law that remind observers of the campaign waged two years ago against Shell, which reluctantly surrendered control of a huge oil project on the Russian island of Sakhalin.
Click to continue reading “Kremlin leaves BP shaken, but it won’t stir”
Van der Veer claimed with a straight face during the AGM Q & A session that the relative pittance Shell received was a fair price when that was manifestly a false statement.
Click to continue reading “Why Shell CEO lied to investors about Russia seizing Sakhalin-2 project”
There is no sign Russia is going to be a safer place to do business in the near future. For now, investors should be aware the Russian risk premium is here to stay. Russians should be aware that, ultimately, it will be they who will pay it.
PARIS, May 31 (Reuters) – Russia’s Prime Minister, Vladimir Putin, said he had warned BP about the risks of setting up a venture with a group of Russian billionaires when he blessed its creation as Russian president in 2003.
Click to continue reading “UPDATE 1-Putin says warned BP about Russian risks”
The Kremlin’s campaign against foreign ownership of Russian energy resources forced Shell to cede control of the $20 billion (£10 billion) Sakhalin-2 oil and gas project to Gazprom last year. As the only big energy company not under Russian control, TNK-BP is firmly in its sights.
In transactions involving both Shell and BP, Mr. Putin met directly with corporate executives. For a time, Kremlinologists thought that he might segue into the chairman’s job at Gazprom; executives say Mr. Putin, a former spy, shows a keen interest in the oil and gas business.
: With all of this money spent on the CEP expansion, it has been built on an old electrical infrastructure. I guess no one is counting how many times you read about a "short" electrical outage at the plant. Tom Purves and the Motiva leadership know exactly why this is happening and how to fix it. They don't want to pay for it. They have been given the project and have turned it down at least twice. Meanwhile, we just keep having outages. Going ot be interesting when both refineries come down in the future.
: LondonLad: the lack of stories concerning Shell should be welcomed, if it implies that Shell are cleaning up their act, perhaps due in part to the efforts of the Donovans.
: US Observer, surely almost all (NOT all)contributors to this website have an axe to grind against Shell, particularly those who have a perception that they have been screwed by Shell in times gone by. As for Itchy Woman, she clearly has a femanistic / burn-the-bra approach to work in Shell. AND I would like to add that once again an old old article (from someone who has an axe to grind against Shell) has to be republished due to lack of news against Shell (I refer to Briggs 2009 article). COMMENT BY JOHN D. Would it not be fairer to say that everyone posting on this blog, including you, has an axe to grind. It is easy enough to look back over your contributions and reach a conclusion.
: It is easy to figure out who Witchy Woman is (LC). She has an "ax to grind" and is using this forum
: @uscitizen Voser is a competent and amicable chap. You claim Shell has delivered on its deliverables. Let me tell you everyone delivers on their deliverable.... But joking apart, look at the promises over the years and how well Shell has delivered on these promises. Their trackrecord is not very good over the last 15 years or so. They are a good money making machine. And sofar they have delivered on their constant or increasing dividend payments. Sometimes by increasing their debt but they have done it. A nice high oilprice has helped, don't you agree?? So my only observation was that his 'promise' to extend North Sea fields is quite opposite their activities in this area. And they have promised this before and done the opposite. It was a nice promise to build a new and expensive office in Aberdeen, more jobs for the UK and more activity and extending of production. Just check back what they have done. And predicting future productionlevels by Shell in general and Brinded in particular is nothing but a sick joke.
: To - an observer of Shell Shell has been delivering on its deliverables - why would you paint Voser as some one who is not??
: This was not a personal attack now was it Witchy one?? #133 Witchy woman on May 8th, 2011 at 1:42 pm Marvin Odum who probably has the worst safety record in Shell goes for a diversity vote and someone who has no safety experience to replace the VP of safety he just fired. Clear message where his priorities lie.
: Witchy Woman - you blase me for personal attacks???? That is so rich! I am defending people that are attacked if you had not noticed - and yes I do slam the folks who are throwing garbage out! Live with it!! Enjoy your retirement! Shell has a good retirement package in the US dont they??
: I feel the value of your posts is also minimal, just a complainer. PS - here is where you bash Denise - remember - or do we need to question your integrity the way folks question Shell leaders?? Witchy woman on Dec 7th, 2011 at 12:35 pm In GOM we thought that hurricane season was done. Why is Hurricane Denise causing so much damage then? Like all Hurricanes though they move on the professionals are left to pick up the pieces.
: According to the Independent article posted today the boss of Shell is telling us all not to get too emotional about fracking. Has he not seen the confirmation that fracking causes earthquakes? You have cited the Reuters article. There are others including coverage of a fracking earthquake in Blackpool England. I have to conclude that Voser is a fracking idiot.
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