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Posts Tagged ‘Shell Reserves Scandal’

Matthias Bichsel and the Shell reserves fraud

By John Donovan Within the next few days we will publish authentic Shell internal confidential emails and documents that provide irrefutable proof that like his fellow Royal Dutch Shell Plc executive director, Simon Henry, Matthias Bichsel (right) was aware years before the Shell reserves fraud became public knowledge, that Shell was cooking the books. Many […]

Corporate Scandals: Post-Enron, post-Shell, post-WorldCom, post-Parmalat

Post-Enron, post-Shell, post-WorldCom, post-Parmalat, the collective knickers of the business world are in a twist about ethics, and rightly so. Deals are the building blocks of business. Enormous sums are at stake and the money belongs mostly to strangers, not neighbours. Without ethics to define deals and fair dealing, business will not get done. Introduction […]

The man who shook Shell

By Clémence Grison (paris): 29.03.2012 John Donovan, who worked with Shell, reveals damaging information on the oil giant. This personal revenge has already cost the Anglo-Dutch company billions of dollars. John Donovan, 64, is a meticulous man and very knowledgeable. For several years he has spent most of his time on what he describes as […]

Whistleblower accuses Shell Executive Director, Malcolm Brinded

“Van de Veer was in a tricky situation. The Shell reputation was already in the gutter after the reserves debacle and Brinded was the white knight in shining armour who was to help in the recovery process.” Introduction by John Donovan Former Shell International HSE Group Auditor, Bill Campbell (above right), provides more information about […]

Spaced out at Royal Dutch Shell

”SPACE, VISION AND STRATEGY”: Sir Philip Watts, disgraced Shell Group Chairman who once donned a space suit at a meeting in Maastricht, Netherlands, in 1998 to pump up his troops. Subsequently a defendant in various US class action law suits arising from his role in reserves fraud ,which cost Shell shareholders almost $1 billion in […]

Damage still reverberating from Royal Dutch Shell reserves scandal

By John Donovan The Guardian reports today that several hundred senior scientists employed by Shell at the Thornton Research Centre in Cheshire “will be scattered to other offices” in what is described as a more general retreat by Shell from the UK. Shell staff, who are said to be “seething,” apparently believe the retreat from […]

Can BP’s investors give oil giant the time to learn from Shell’s mistakes?

Results clouded by rivals and identity crisis! Titanic court battle looms for oil company! Executives may face charges! By Rowena Mason: 9:33PM BST 30 Jul 2011 If those headlines were meant for readers in 2011, the subject could be only one sorry corporate story: BP and its $40bn (£24bn) Gulf of Mexico oil disaster. However, […]

Case Study: Shell Hydrocarbon Reserves Scandal

Book Title: The Reform of Class and Representative Actions in European Legal Systems: Book by Christopher Hodges, MA (Oxon), PhD (Lond), FSALS: June 2008: Front Cover, Chapter 3 Court Rules for Multiple Claims – Extracts from Pages 75 & 76, plus Back Cover. ISBN 978-1-84113-902-9 (Hart Publishing Limited) The Netherlands Case Study: Shell Hydrocarbon Reserves […]

Royal Dutch Shell in $13 billion securities fraud lawsuit

By John Donovan on 2007-06-22 Royal Dutch Shell fights it out in multi-billion dollar worldwide class action lawsuit arising from the reserves fraud which first hit the news headlines in January 2004 A four week mini-trial was due to commence in the U.S. Courts on Monday 18 June 2007 in the consolidated class action against […]

Videotaped Deposition of former Chief Executive of Shell Exploration & Production Walter van de Vijver

Videotaped Deposition of former Royal Dutch Shell Group MD and Chief Executive of Shell Exploration & Production – Mr Walter van de Vijver, in Washington, D.C. 16 Wednesday, January 31st, 2007: 17 9:39 a.m. (first 390 pages) Exhibit 290: Walter van de Vijver Deposition (70 pages) Exhibit 291: Walter van de Vijver Deposition (65 pages) […]

ROYAL DUTCH SHELL NEWS HEADLINES DECEMBER 2005

ROYAL DUTCH SHELL NEWS HEADLINES DECEMBER 2005 Toronto Star: Royal Dutch Shell eyes Canadian minority buyout: Offer could be worth $7 billion: Saturday 31 December 2005: READ   Business Times Malaysia: Joint venture field delivers first gas: “SHELL Malaysia and Petronas Carigali Sdn Bhd have achieved a major milestone with the delivery of first gas […]

ROYAL DUTCH SHELL NEWS HEADLINES NOVEMBER 2005

ROYAL DUTCH SHELL NEWS HEADLINES NOVEMBER 2005  Dow Jones Newswires: Global Gas Demand To Grow By 3% Next Decade – Shell Exec: $16 Trillion Energy Invest Needed From 2001-30 – Shell Exec: Wednesday November 30, 2005: READ   AllAfrica.com: Delta Community Threatens to Shut Shell’s Facilities: “If after three weeks from the date of this […]

ROYAL DUTCH SHELL NEWS HEADLINES OCTOBER 2005

ROYAL DUTCH SHELL NEWS HEADLINES OCTOBER 2005 AFX Europe (Focus): Royal Dutch Shell proposes to pay minority shareholders 52.21 eur/shr: “Royal Dutch Shell also said eligible UK resident shareholders can receive loan notes exchangeable into Royal Dutch Shell ‘A’ shares.”: Tuesday October 31, 2005: READ Grampian TV (Scotland): Shell admits failures led to the deaths […]

ROYAL DUTCH SHELL NEWS HEADLINES SEPTEMBER 2005

ROYAL DUTCH SHELL NEWS HEADLINES SEPTEMBER 2005 Stanford Law School: Royal Dutch Petroleum Company (Shell): According to a press release dated September 2, 2005, Shell is to pay out $9.2 million and has agreed to make changes to its corporate governance in order to settle four lawsuits brought against it by disgruntled shareholders. However, the […]

ROYAL DUTCH SHELL NEWS HEADLINES AUGUST 2005

ROYAL DUTCH SHELL PLC NEWS HEADLINES AUGUST 2005 ShellNews.net: Royal Dutch Shell settles another US Class Action Lawsuit and undertakes ethics makeover: Wednesday 31 August 2005: 20.00 ET: READ The Mayo News Online (Ireland: Rossport Five could face jail until October: “The legal teams are talking, and are in continual contact, but there is little […]

ROYAL DUTCH SHELL NEWS HEADLINES JUNE 2005

ROYAL DUTCH SHELL PLC NEWS HEADLINES JUNE 2005 Wednesday, 1 June 2005 The Independent (UK): Shell opens talks about a return to Nigeria’s troubled Ogoni region: “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 […]

MAY 2005 ROYAL DUTCH SHELL NEWS HEADLINES

MAY 2005 ROYAL DUTCH SHELL NEWS HEADLINES Sunday, 1 May 2005 ExpressIndia.com: Iran says expects to win bid to buy Basell: “Iran said it was better-placed to buy polymer joint venture Basell than its Indian rivals and expects to be the final winner in the sale process…”(ShellNews.net) 1 May 05 Monday, 2 May 2005 THE […]

DAILY MAIL (UK): Shell fuels controversy as profits soar by 42pc

DAILY MAIL (UK): Shell fuels controversy as profits soar by 42pc Posted 30 April 05 By Brian O’Connor SHELL and Exxon Mobil made huge profits in the quarter to March, bringing fresh protests from motorists and consumer groups squeezed by soaring oil prices. Fears for the world economy continued as US crude prices, which briefly […]

APRIL 2005 ROYAL DUTCH SHELL NEWS HEADLINES

APRIL 2005 ROYAL DUTCH SHELL NEWS HEADLINES Friday, 1 April 2005 THE WALL STREET JOURNAL: Shell Is in Settlement Talks Over Oil Reserves Scandal: “Royal Dutch/Shell Group said it is in settlement talks on some of the class-action litigation unleashed after it was forced to reclassify its oil reserves.” (ShellNews.net) 1 April 05 Daily Mail […]

JANUARY 2005 ROYAL DUTCH SHELL NEWS HEADLINES

JANUARY 2005 ROYAL DUTCH SHELL NEWS HEADLINES Saturday, 1 January 2005 The Guardian (UK): Letters: Humanity wins out: “It’s a wonderful testament to the human spirit to see the millions that the public are donating. It’s also good to see that governments are doing their bit. But how much are corporations donating? Companies such as […]

DECEMBER 2004 ROYAL DUTCH SHELL NEWS

DECEMBER 2004 ROYAL DUTCH SHELL NEWS Wednesday 1 December, 2004 Daily Telegraph: Prime Yukos oil field in line for Russian gas bid: “Russia’s massive gas monopoly Gazprom will bid for the prime Siberian oil field of troubled Yukos when a government-ordered fire sale takes place later this month…”: “Other potential bidders are said to include […]

NOVEMBER 2004 ROYAL DUTCH SHELL NEWS

NOVEMBER 2004 ROYAL DUTCH SHELL NEWS (Click on a headline to access that story) Monday 1 November, 2004 Compliance Reporter: Royal Dutch/Shell Merger Plan Called ‘Inadequate': ““It is a timid, inadequate step forward,” said attorney William Lerach, who in June sued executives and board members of the firms, demanding that they be held accountable for […]

OCTOBER 2004 ROYAL DUTCH SHELL NEWS

OCTOBER 2004 ROYAL DUTCH SHELL NEWS (Click on a headline to access that story) Friday 1 October, 2004 ChannelNewsAsia.com: Shell rejects report Tokyo forced pullout of East China Sea gas project:  “Anglo-Dutch oil giant Royal Dutch/Shell vigorously denied that its withdrawal from a politically sensitive gas project in the East China Sea was due to […]

SEPTEMBER 2004 ROYAL DUTCH SHELL NEWS

SEPTEMBER 2004 ROYAL DUTCH SHELL NEWS Wednesday 1 September, 2004 AllAfrica.com: $1.5bn Compensation: Shell to Sue Senate: “SHELL Petroleum Development Company (SPDC) Nigeria Limited may take the National Assembly to court if the Senate forces it to pay $1.5 billion compensation to Ijaw communities for alleged environmental degradation.” TELLSHELL: Comment by former Shell geologist Dr […]

AUGUST 2004 ROYAL DUTCH SHELL NEWS

AUGUST 2004 ROYAL DUTCH SHELL NEWS Sunday 1 August, 2004 The Sunday Times: Special Report: In the dock: City watchdog accused of incompetence; “When it adopted an American-style settlement formula last week and allowed Shell to pay its fine without admitting guilt, the regulator set a precedent.” The Sunday Times: Business Digest: “THE sale of […]

JULY 2004 ROYAL DUTCH SHELL NEWS

JULY 2004 ROYAL DUTCH SHELL NEWS Thursday 1 July, 2004 Planet Ark: Shell world record wells pump gas from 2 miles deep The Daily Telegraph: Movers and shakers: “Peter Voser” The Times: BP heads for SEC clash over reserves The Times: Time to clean up oil accounting: “SHELL’s nightmare” Daily Telegraph: Shell cheer down Mexico […]

JUNE 2004 ROYAL DUTCH SHELL NEWS

JUNE 2004 ROYAL DUTCH SHELL NEWS Tuesday 1 June, 2004 Business Times Singapore: Ousted Shell chief gets generous pay and option deal Package worth 5.8m, excluding severance deal, says annual report Daily Telegraph: Highest paid chief executives The Wall Street Journal: Shell’s Ex-Chairman Got Pay Raise in 2003 The Guardian: Saudi siege fallout threatens oil […]

MAY 2004 ROYAL DUTCH SHELL NEWS

MAY 2004 ROYAL DUTCH SHELL NEWS Saturday 1 May, 2004 TheBakersfieldChannel.com: Shell Worker Claims Company ‘Lied To Community’ Financial Times: In real world Shell is not shrinking London Evening Standard: Huge profits at battered Shell Sunday 2 May, 2004 The Independent: Watchdog shakes up oil audits in the wake of Shell scandal The Times: Cox […]

APRIL 2004 ROYAL DUTCH SHELL NEWS

APRIL 2004 ROYAL DUTCH SHELL NEWS Thursday 1 April, 2004  The Guardian: BP shareholders strike oil The Washington Times: Shell officials said warned of problems The Wall Street Journal: Shell Estimate Ignored Warnings Yahoo News: Shell warned in 2000 of possible overestimation of reserves Forbes.com: Nigeria says Shell cut 1.9 bln bbls of its reserves […]

The Times: Revival in the pipeline?

The Times: Revival in the pipeline?  April 29, 2004 By Richard Irving, Business News Editor Shell has shocked investors again, this time by revealing profits far better than they had hoped for. For most of 2004, Shell has found buyers for its shares as elusive as its “proven” oil reserves. It was not so long […]

Forbes.com: S&P says it may still cut Shell’s debt rating

Forbes.com: S&P says it may still cut Shell’s debt rating Reuters, 04.29.04, 12:02 PM ET NEW YORK, April 29 (Reuters) – Standard & Poor’s on Thursday said it may still cut its rating on Royal Dutch/Shell after the Anglo-Dutch oil group reported first-quarter financial results at the top range of expectations. S&P said that although […]

The Scotsman: Embattled Shell lifted by 9% rise in profits

The Scotsman: Embattled Shell lifted by 9% rise in profits 29 April 04 THE tide appeared to turn in Shell’s favour today as the troubled oil giant cheered analysts by reporting a nine per cent hike in quarterly profits. The company, which has seen its reputation battered by a series of oil reserve downgrades, also […]

Yahoo.com: Shell 1Q Net Falls 16%, Announces $2B Buyback

Yahoo.com: Shell 1Q Net Falls 16%, Announces $2B Buyback By Mark Long Of DOW JONES NEWSWIRES Thursday April 29 04 LONDON (Dow Jones)–Royal Dutch/Shell Group (RD, SC) Thursday said its first-quarter net profit dropped 16% from a year earlier’s record result that was skewed higher by more than $1 billion in special credits. The beleaguered […]

Bloomberg.com: Shell Reports Drop in First-Quarter Earnings as Output Falls

Bloomberg.com: Shell Reports Drop in First-Quarter Earnings as Output Falls April 29 (Bloomberg) — Royal Dutch/Shell Group, which faces regulator probes and investor lawsuits after cutting oil and gas reserves three times, said first-quarter profit fell 16 percent from a year ago as output declined. Net income dropped to $4.43 billion from $5.31 billion a […]

Financial Times: Shell ‘had systems in place’ to hear fears over reserves

Financial Times: Shell ‘had systems in place’ to hear fears over reserves  By Carola Hoyos Published: April 29 2004 5:00 | Last Updated: April 29 2004 5:00 A senior Royal Dutch/Shell executive has insisted that there were systems in place for any director to raise concerns over the oil group’s reserves position with the board. […]

Financial Times: Hollywood or bust . . . or For a Few Barrels More

Financial Times: Hollywood or bust . . . or For a Few Barrels More By John Gapper Published: April 27 2004 5:00 | Last Updated: April 27 2004 5:00 Posted 29 April 04 In mid-2001, Walter van de Vijver succeeded Sir Philip Watts as chief executive of Shell’s exploration and production unit . . . […]

MARCH 2004 ROYAL DUTCH SHELL NEWS

MARCH 2004 ROYAL DUTCH SHELL NEWS Wednesday 3 March, 2004  The New York Times: Shell Chairman Resigns Over Reserves Shock Yahoo.com/prnewswire: Royal Dutch/Shell Group of Companies Management Changes News & Media Releases: Royal Dutch/Shell Group of Companies Management Changes Thursday 4 March, 2004  New York Times: Shell’s Top Executive Is Forced to Step Down Financial […]

FEBRUARY 2004 ROYAL DUTCH SHELL NEWS

FEBRUARY 2004 ROYAL DUTCH SHELL NEWS Sunday 1 February, 2004  ThisisLondon.co.uk: Shell bosses reject shares buyback Monday 2 February, 2004  The Scotsman: All eyes on Shell as results are unveiled FT: Nigeria hitch caused Shell cuts The Independent: Shell chief faces Nigerian challenge Calgary Herald: Shell set to face the music Tuesday 3 February, 2004  […]