Shell – Royal Dutch Shell Plc .com http://royaldutchshellplc.com News and information on Royal Dutch Shell Plc Tue, 22 May 2018 12:46:24 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.5 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 Shell – Royal Dutch Shell Plc .com http://royaldutchshellplc.com 32 32 4172002 Over $40 million of fuel stolen from Shell refinery, Singapore court documents show http://royaldutchshellplc.com/2018/05/22/over-40-million-of-fuel-stolen-from-shell-refinery-singapore-court-documents-show/ http://royaldutchshellplc.com/2018/05/22/over-40-million-of-fuel-stolen-from-shell-refinery-singapore-court-documents-show/#respond Tue, 22 May 2018 12:46:24 +0000 http://royaldutchshellplc.com/?p=96865 Over $40 million of fuel stolen from Shell refinery, Singapore court documents show was first posted on May 22, 2018 at 1:46 pm.
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The charges relate to incidents involving a total of 66,141 metric tonnes of gasoil valued at around $32.1 million between late April 2017 through to early January this year.

An additional three former Shell employees received eight additional charges for incidents involving 16,394 metric tonnes of gasoil valued at around $8.4 million, raising their total allegations to 15.

The values given in the court documents were a mix of Singapore dollars and U.S. dollars and Reuters converted them based on Tuesday’s exchange rate.

Pulau Bukom is located on an island just south of the main island of Singapore.

Southeast Asia is a hot spot for illegal fuel trading but the regularity of the thefts, many of which occurred during working hours, has prompted the company to take measures to improve security.

“We continue to be disappointed by what we uncovered last year,” a Shell spokeswoman said in an emailed response to Reuters.

“We are already taking short- and long-term actions to improve,” the spokeswoman said. Those measures include closer monitoring of products moving in and out of Pulau Bukom, tightening vessel management procedures, and stepping up ethics and compliance training for employees.

The Shell spokeswoman also said it is working with government authorities and industry associations to address the wider issue of oil theft.

The Singapore police said investigations related to the Shell case were still ongoing.

Shell first contacted Singapore authorities about suspected theft at its refinery back in August. That prompted a raid earlier this year which led to several arrests and the seizure of a tanker and millions of dollars in cash.

Initial charges from the first months of the investigation related to around $10 million worth of oil.

There have also been charges related to the thefts brought against former employees of one of Singapore’s biggest marine fuel suppliers Sentek Marine & Trading Pte Ltd; a Singaporean who worked for Intertek (ITRK.L), a British-listed company specializing in quality and quantity assurance, including for fuel products; and three Vietnamese nationals who allegedly received stolen property aboard ships.

Additional reporting by Dewey Sim; Editing by Christian Schmollinger

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Over $40 million of fuel stolen from Shell refinery, Singapore court documents show was first posted on May 22, 2018 at 1:46 pm.
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Shell shareholders adopt CEO pay by 75 percent majority http://royaldutchshellplc.com/2018/05/22/shell-shareholders-adopt-ceo-pay-by-75-percent-majority/ http://royaldutchshellplc.com/2018/05/22/shell-shareholders-adopt-ceo-pay-by-75-percent-majority/#respond Tue, 22 May 2018 12:43:51 +0000 http://royaldutchshellplc.com/?p=96862 Shell shareholders adopt CEO pay by 75 percent majority was first posted on May 22, 2018 at 1:43 pm.
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FILE PHOTO: Ben van Beurden, CEO of Royal Dutch Shell company, speaks during a meeting with Russian President Vladimir Putin in Moscow, Russia June 21, 2017. REUTERS/Sergei Karpukhin

Reuters Staff: May 22, 2018

THE HAGUE (Reuters) – Royal Dutch Shell (RDSa.L) shareholders on Tuesday approved the 2017 management remuneration, including Chief Executive Officer Ben van Beurden’s 8.9 million euro ($10.51 million) package, by a majority of 75 percent.

The 2016 remuneration resolution won the support of more than 92 percent of shareholders.

Board member Gerard Kleisteree, who heads Shell’s remuneration committee, said the lower support was due in part to an accident in Pakistan last year where more than 200 people were killed in an explosion of a tanker operated by a Shell sub-contractor.

Reporting by Ron Bousso, editing by Louise Heavens

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Shell shareholders adopt CEO pay by 75 percent majority was first posted on May 22, 2018 at 1:43 pm.
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Investors turn up heat on Shell over climate targets http://royaldutchshellplc.com/2018/05/22/investors-turn-up-heat-on-shell-over-climate-targets/ http://royaldutchshellplc.com/2018/05/22/investors-turn-up-heat-on-shell-over-climate-targets/#respond Tue, 22 May 2018 12:41:40 +0000 http://royaldutchshellplc.com/?p=96859 Investors turn up heat on Shell over climate targets was first posted on May 22, 2018 at 1:41 pm.
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Ron Bousso: MAY 22, 2018

THE HAGUE (Reuters) – Top investors in Royal Dutch Shell on Tuesday stepped up pressure on the oil and gas giant to commit to hard targets to reduce greenhouse gas emissions to battle climate change.

Shell has set out “ambitions” to halve carbon emissions by 2050 and expand in renewables energy, which Chief Executive Officer Ben van Beurden said were ground breaking for the oil industry.

To view a graphic on Shell emissions, click: reut.rs/2Iya7Hf

“Nobody else comes close, it is seriously ambitious,” van Beurden said of Shell’s plan at the company’s annual general meeting in The Hague.

While praising Shell for its plan, a growing number of major shareholders has urged the Anglo-Dutch company to commit to hard targets to reduce carbon emissions from its oil and gas production, as well as from fuels it sells around the world.

“We call for this ambition to be translated into firm medium and short term targets, aligned with the Paris Agreement,” a group of 27 investors managing $7.9 trillion in assets said in a statement read at the AGM.

Shell’s board has urged shareholders to vote against a resolution brought forward for a vote at the AGM by activist group Follow This calling on Shell to set hard targets to reduce emissions in order to meet the 2015 Paris Climate Agreement goal to limit global warming to “well below” 2 degrees Celsius.

Van Beurden warned that doing so would hamper Shell’s efforts to adapt to the transition going on in energy.

To view a graphic on Shell carbon reduction goals, click: reut.rs/2JOGJgZ

“The reputation of our company is irrevocably linked to targets… Nobody can see how the energy transition will play out over this period,” van Beurden said.

The previous two climate resolutions tabled by Follow This in 2016 and 2017 won the support of 2.8 percent and 6.3 percent of the votes, respectively.

Last week, a group of 60 global investors urged companies to do more to reduce emissions and become more transparent about their plans.

Producing and burning of oil and gas account for around 50 percent of global carbon emissions.

To view a graphic on Shell vs. Exxon, click: reut.rs/2Ez93SB

Reporting by Ron Bousso; editing by Jason Neely

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Investors turn up heat on Shell over climate targets was first posted on May 22, 2018 at 1:41 pm.
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Nigeria: Court Fixes Tomorrow to Rule On N122bn Judgment Debt Against Shell, FBN http://royaldutchshellplc.com/2018/05/21/nigeria-court-fixes-tomorrow-to-rule-on-n122bn-judgment-debt-against-shell-fbn/ http://royaldutchshellplc.com/2018/05/21/nigeria-court-fixes-tomorrow-to-rule-on-n122bn-judgment-debt-against-shell-fbn/#respond Mon, 21 May 2018 20:56:32 +0000 http://royaldutchshellplc.com/?p=96855 Nigeria: Court Fixes Tomorrow to Rule On N122bn Judgment Debt Against Shell, FBN was first posted on May 21, 2018 at 9:56 pm.
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Justice Ibrahim Buba of the Federal High Court in Lagos has fixed tomorrow to rule on the garnishee proceedings filed by some Ogoni chiefs from Ejama community in Rivers State against the Central Bank of Nigeria (CBN) and First Bank of Nigeria Limited for their failure to pay a N122 billion judgment debt against Shell Petroleum Development Company Limited (SDPC). The judge also fixed the same day to rule on whether to jail the Chairman of First Bank, Mrs. Ibukun Awosika, for failing to pay the amount as ordered by a Federal High Court in Owerri, Imo State. Justice Buba fixed the date after hearing all the applications filed by the different parties in the suit last Friday. In the substantive suit, the Ogoni chiefs had sued the Royal Dutch Shell Plc, Netherlands; Royal Dutch Shell Plc, United Kingdom and SPDC over alleged oil spills that occurred when Shell operated in the community at the Federal High Court in Port Harcourt. FULL ARTICLE

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Nigeria: Court Fixes Tomorrow to Rule On N122bn Judgment Debt Against Shell, FBN was first posted on May 21, 2018 at 9:56 pm.
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Netherlands: More than 50 lawsuits loom large as Shell holds AGM http://royaldutchshellplc.com/2018/05/21/netherlands-more-than-50-lawsuits-loom-large-as-shell-holds-agm/ http://royaldutchshellplc.com/2018/05/21/netherlands-more-than-50-lawsuits-loom-large-as-shell-holds-agm/#respond Mon, 21 May 2018 16:02:56 +0000 http://royaldutchshellplc.com/?p=96848 Netherlands: More than 50 lawsuits loom large as Shell holds AGM was first posted on May 21, 2018 at 5:02 pm.
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As oil giant Shell prepares for its annual shareholders meeting in The Hague tomorrow, Amnesty International is drawing investors’ attention to dozens of national and international lawsuits that are currently underway against the company and that could potentially cost it millions. Amnesty International has joined forces with four other NGOS – Global Witness, Groninger Bodem Beweging, Greenpeace and Milieudefensie – to hold a pop-up ‘exhibition’ at the meeting, showcasing details of 16 of the active lawsuits against Shell.

“Decades of irresponsible business practices have landed Shell in a legal maze. Shell staff and investors meet tomorrow under the shadow of more than 50 lawsuits relating to involvement in historic human rights abuses, corruption and environmental destruction,” said Mark Dummett, Business and Human Rights Researcher at Amnesty International.

“We want investors to wake up to the human and environmental cost of Shell’s utter disregard for anything other than its profit margins. That’s why everyone who walks through the door of tomorrow’s meeting will be greeted by photographs of the plaintiffs who are battling Shell for justice, and details of the shocking allegations they are bringing against the company.”

The exhibition will highlight 16 lawsuits including:

  • A case brought against Shell in June 2017 by four Nigerian women accusing it of complicity in the unlawful killings of their husbands in 1995. The execution of the Ogoni 9 was the culmination of a brutal military campaign to silence protests against Shell pollution.
  • Criminal investigations by six countries (Italy, The Netherlands, Nigeria, Switzerland, the UK, the US) into Shell’s involvement in corruption in Nigeria
  • A series of lawsuits filed by cities and counties in the US, and an investigation by the Philippines Human Rights Commission, relating to how Shell and other energy companies have contributed to climate change.
  • A Dutch criminal investigation into earthquake damages caused by Shell and ExxonMobil’s operations in Groningen, the Netherlands.

Meanwhile, Shell will be in court in London again tomorrow in an ongoing legal tussle with the Bodo community, from the Niger Delta, over Shell’s failure to clean up the contamination of two massive spills in 2008.

“The fact that this important hearing coincides with Shell’s annual meeting demonstrates the astonishing frequency with which Shell appears in the courtroom,” said Mark Dummett.

Amnesty International and the other organizations are calling for investors to use their influence over Shell’s management to ensure the company improves on its record on the environment and human rights.

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Netherlands: More than 50 lawsuits loom large as Shell holds AGM was first posted on May 21, 2018 at 5:02 pm.
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