Posts from ‘October, 1938’

Bogus Group: Ex Shell Nigeria finance director, ex BG Group CFO and current Centrica CFO’s rise up the ‘escalator to stardom’ continues as he assumes role of interim chief executive. Worth keeping this company pursuits on the radar and its affiliation with other companies. One of who’s chief executive travelled the same escalator. https://theenergyst.com/ian-conn-exits-centrica-woe-corona/

Bonus Group: Shell Brasil Announces Agreement with Ecopetrol Source Press Release Company Royal Dutch Shell, Ecopetrol Tags Asset Deals, Deals, Upstream Activities Story Focus Deals Date October 21, 2019 Negotiation involves sale of 30% interest in the the Gato do Mato project Shell Brasil Petroleo Ltda. (“Shell Brasil”) announces it has entered into an agreement with Ecopetrol for the sale of 30% interest in the the Gato do Mato project, a pre-salt gas-condensate discovery that covers two contiguous blocks: BM-S-54 and Sul de Gato do Mato. Shell Brasil retains a 50% interest in Gato do Mato and continues as operator of both blocks, with consortium partners Ecopetrol (30%) and Total (20%). “Shell Brasil has an exciting deep water portfolio with operated and non-operated positions that we are exploring, appraising, and developing. This transaction allows Shell Brasil to further optimize the portfolio. We look forward to progressing activities in the Gato do Mato blocks with our partners,” said Shell Brasil Country Chair André Araujo. The deal is subject to regulatory approvals. Let's hope that the regulators don't discover what Shell's Brazil Unitization Team have been up to. The same group of 'Shakespeare's Monkeys', previously employed by BG Group, have been working on the Brazil Asset for over ten years led by the same Front End Development and Integrated Reservoir Modelling Manager (who had been laughingly promoted to VP Developments to boost their status for the takeover by Shell). They have woven a considerable web of lies and deceit, and by playing games and politics with Petrobras have failed to do any serious technical work on this Asset. After all as long as there is significant production, who gives a hoot about where it comes from! Seriously though, it is about time the whole group were disbanded from their cozy 'ring fenced' workspace and introduced to the outside world. Shareholders might wish to ask why these particular employees receive 'special' treatment and are isolated from the dreadful flexible workspace other employees have to endure.

Bonus Group: Shell Energy customer score

Shell Utility came 29th out of 35 energy companies rated by 7,355 members of the public in the annual Which? energy supplier satisfaction survey - the biggest of its kind.

Bogus Group: Customers may not be aware of the discrete business segments in the Shell company or that Shell Energy is a distinct entity. From the numerous responses, they just see a company incapable of dealing with problems, which leads to excessive frustration. Maybe the solution is a single point contact for specific issues. As Sarah Franklin (ex BG Group chief counsel) noted in a previous publication that emotional intelligence was pivotal to success, maybe she could advise on how to relieve stress, communicate effectively, empathize with others, overcome challenges and defuse conflict, with Shell customers. Or is she too busy with complex safety and environmental issues on Prelude?

Bonus Group: A date worth forgetting? How incompetence is rewarded. Monday 15th February 2016 RECOMMENDED CASH AND SHARE OFFER FOR BG GROUP PLC BY ROYAL DUTCH SHELL PLC Feb 15, 2016 Royal Dutch Shell plc (“Shell”) is pleased to announce that the Scheme has become effective and that the entire issued ordinary share capital of BG Group plc (“BG”) is now owned by Shell. This follows the Court’s sanction of the Scheme at a hearing held on February 11, 2016 and the delivery of the Court Order to the Registrar of Companies today, February 15, 2016.

Bogus Group: Are Rob Jager’s idiotic statements (August’19 blog #52) coming back to trouble him? Another article in the Western Australian (23.05.19), “Shell Veteran, states the project is not driven by milestones or schedules, but by safety”, where Jager wants to methodically take his team through identifying and managing the risks towards Shell’s goal of zero incidents. However, this would appear to be in conflict with the CFO Jessica Uhl expectations of first cargo by the end of June of that year. The article also notes he was a director of Air New Zealand and chaired its safety committee. The ex BG Group chief executive who also salivated his commitment to safety during his tenure, is now non-executive with Rolls Royce and chairman of the ethics and safety committee. Issues with poor durability of components in Rolls Royce Trent engines for Boeing 787 are now apparent and more recently the regulator has recently issued a Safety Order, for what would appear to be a separate issue. Senior managers and executives may understand the commercial aspects of their business, but when found lacking in the technical aspects, they should be called to account, before they pass through the revolving door of opportunity and move on. Previous warning signs are conveniently forgotten, is this acceptable?

Bonus Group: Prelude to disaster? https://www.oedigital.com/news/475328-prelude-flng-shut-down

Prelude Rumours: Rumour has it is that the problems are due to malfunctioning valves that are being replaced hence the intrusive entry into plant, a very unusual and unwelcome occurrence it seems causing the operators to make short cuts, begs the question If shortcuts are being taken elsewhere? if this type of behaviour is prevalent and not discouraged in one area it can be contagious, no idea what valves and where in the process but likely to be a factor in the under performance of the plant reference design outputs.

Bogus Group: Having worked on LNG facilities and having seen the devastation of one going wrong, concerns posted on this blog about the risks posed with Prelude FLNG, were perfectly justified. But ‘as one would expect’, Shell would have considered and accounted for these risks! How else could they justify “Goal Zero ambition is to achieve no harm and no leaks across all of our operations”? However, ‘as some would know’, when costs are escalating , talk is cheap. Recent concerns raised by the Australian regulator that Shell has not ensured “best practice” for its isolation procedures on Prelude FLNG, must raise warning signs. But how can these concerns be warranted? In 2014 an article alluded to the role of Shell lawyers in collaboration with all aspects of the project, including safety regulation. If you believe the media, the acquisition of BG Group lawyers should enhance this type of collaboration. One such article centred on the responsibilities of Sarah Franklin (BG chief counsel), which included health and safety, who has inherited a new team that focuses on complex safety and environmental issues. There can be no more complex safety and environmental asset in the Shell portfolio than Prelude FLNG, yet there would appear to be a deficiency in a fundamental work control system, their isolation procedures. The article also noted her other skill sets, such as setting up BG’s first whistleblowing programme. Other’s will attest that this programme was unquestionably fallacious. As noted in a previous blog if you are a Shell employee with concerns, especially those with a safety connotation and you wish to engage with her………. beware.

Bonus Group: Shell plans to divest assets worth $10Bn by 2021 and is reportedly looking to exit the Abadi Liquid Natural Gas (LNG) Project in Indonesia, which could raise between $1Bn and $1.6Bn

Bonus Group: And the trough gets deeper..... Sound Energy, the Moroccan focused upstream gas company, announces, further to the Company's announcement of 20 January 2020, that the Company has today issued 5,805,555 new ordinary shares in the Company (the "New Ordinary Shares") to Brian Mitchener, the Company's Exploration Director, at an effective issue price of 1.86 pence per New Ordinary Share in connection with the termination of his employment contract. As previously announced on 20 January 2020, Mr. Mitchener will step down from the Board with effect from 31 March 2020.

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