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Latest on Sat, 11:31 am: What makes you think that anyone is interested in Shell's business dealings with the Germans several decades ago?
REPLY BY JOHN DONOVAN
Shell's historians must have thought someone would be interested or they would not have included dozens of pages filled with supporting evidence in "A History of Royal Dutch Shell" Volumes 1 & 2 published in 2007. Understandably, they spun the evidence in favour of their paying client, Shell. Another indication of interest is the many thousands of visitors to our new sister website shellnazihistory.com. Likewise, 17,918 blocked malicious login attempts on the new site with 1,696 blocked spam comments (by Akismet). All stats as of today, 13 July 2019. In addition to the public interest, clearly, there is evil intent towards the website. Wonder who that might be?: In answer to uscitizen's post proclaiming the wonders of the acquisition of BG Group by Shell, it should be remembered that Shell had a 'fire sale' of a plethora of BG 'dross' assets in order to raise $30Bn to disguise the amount by which they had overpaid for BG Group. Sooner or later there must be another reserves recategorisation. The Brasil Asset is a prime candidate for this given that it is still staffed by ex-BG sycophants propping up the illusion. As highlighted by Bogus Group, it would seem that Knarr is the latest posthumous failure of BG Group. They were always over stating the value to the shareholders.
: In 2015 this prospect was given a production life of "at least 10 years"Did Shell expect such an early exit, or was this another BG Group recoverable miscalculation?https://www.upstreamonline.com/hardcopy/1805800/shell-to-pull-plug-at-knarr
: Shell, the world’s second-largest listed oil and gas company after Exxon, cut costs heavily following its 2016 acquisition of BG Group for $53 billion and the 2014 oil crash. Despite a slow and bumpy recovery in oil prices, it reported the largest profit among its peers last year and a jump in revenue from previous years. Shell said its free cash flow - cash available for dividends and share buybacks - was set to rise to around $35 billion per year by 2025 based on a Brent crude oil price of $60 per barrel. That compares with $28-33 billion in free cash flow it expects to deliver by the end of next year. Brent is currently trading just under $61 per barrel. Shell, the world’s biggest dividend payer at $16 billion in 2018, expects to increase its dividend payouts to shareholders once it completes the $25 billion share buyback by the end of 2020 that it promised following the BG acquisition. Shell last increased its quarterly dividend in the first quarter of 2014 to $0.47 per share.
: All of the folks bashing Shell for the BG merger, I think we can now say this has been a very good financial move. Shell has overtaken Exxon and Integrated Gas is a big reason why. I am sure there are examples where some good people got pushed out, and I hate to hear that. However, lets not pull the wool over folks eyes and say this business decision was not sound.
: Further to yesterday's post. Sound Energy plc ("Sound Energy" or the "Company") Director/PDMR Shareholding Sound Energy, the Moroccan focused upstream gas company, announces that it has been notified that Brian Mitchener, Executive Director, has today purchased 150,000 ordinary shares in the Company ("Ordinary Shares") at a price of 12.04 pence per Ordinary Share. As a result of this purchase, Mr Mitchener is interested in 150,000 Ordinary Shares, representing 0.0142% of the Company's issued ordinary share capital.
: UnSound Energy? Readers may wonder why the darling of the AIM Market is now preparing itself for a sale of its Eastern Morocco acreage. Perhaps, the answer may be found in the Annual Report 2018 available to download as a .PDF from the Sound Energy Website: Page 49 Loss of Office and Change of Control Provisions In the event of a change of control of the Company, the CEO, CFO and Exploration Director have the option to give notice and receive a lump sum equivalent to 18 months’ salary for the CEO, 12 months’ salary for the CFO and 8 months’ salary for the Exploration Director.All of the Company’s current share plans contain provisions relating to a change of control. On a change of control, outstanding awards would normally vest and become exercisable, subject to the satisfaction of any performance conditions at that time. Page 50 Summary Of Actual Remuneration (including Benefits in Kind and Performance Awards) Of Directors Executive Directors James Parsons £995,000 Brian Mitchener £323,000 (RSU Awards No. of Shares 862,682, Granted 26.04.18 Settlement date 01.01.21) JJ Traynor £168,000 (RSU Awards No. of Shares 961,194, Granted 26.04.18 Settlement Date 01.01.21) It should be remembered that Brian Mitchener is of the failed BG Group stable. It would seem that Bonus Group habits are hard to let g0!
: I concur with Bonus Group recollection of the tin pot, lacklustre, parvenu outfit. There was no place in BG Group for experienced professionals if they didn’t possess the sycophant tendencies required to stoke the egos of those deluded by corporate grandeur. Large remuneration packages were not uncommon then too, the chief executive received circa £13mm (published) in bonuses throughout his 12 year tenure. During that period there were 26 fatalities, roughly £500k for each. That was more than distasteful.
: Today is the anniversary date of the agreement on terms of the takeover of BG Group (a tin pot, lacklustre, parvenu outfit) by Royal Dutch Shell plc in 2015. In consequence of BG Group's consistent failures to meet targets and the engineered predatory takeover by Royal Dutch Shell plc the careers and professional lives of many experienced Geoscientists and Engineers were brutally butchered, terminated, and cast aside like so much offal, so it is rather distasteful to see the size of Ben van Beurden's remuneration package being flaunted in the press by Royal Dutch Shell plc.
: It seems to be impossible right now to get any chance of landing a job inside Shell these days. Everytime people apply for jobs unless they have high potential or a diversity point they get rejections. I got told recently that the hiring manager was looking for someone with high potential. Don't these people realise that they also need QUALIFIED people to actually do the work. Ridiculous but it almost getting to age discrimination these days. Rant over.
: SHELL CANADA
...they are wanting to sell their Alberta operations..... because there is no money left in it...they have syphoned it all off.....
https://business.financialpost.com/commodities/energy/shell-seeks-sale-of-canadian-refinery-to-focus-on-lng-project in Caroline Alberta they had a massive sour gas leak on March 23 2003. It was in the local paper....Caroline Alberta or Sundre Alberta. (Sundre roundup)I think also on 2010-2011 they had multiple explosions at their Caroline facility supposedly an employee during an explosion at the south compressor station had to be airlifted to hospital and was seriously injured.
The aer/ govt shut it down. it was closed for 6 months and half of the plant was decommissioned when it restarted.
That must have cost them millions of dollars.....there should be government records of this stuff....
: THE ROYAL MINT HAVE RELEASED A NEW 50p COIN TO COMMEMORATE THE BREXIT DEAL
OUR SISTER WEBSITE
AN OPEN WOUND FOR SHELL SAYS FT
John Donovan’s ebooks
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EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
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@relieved
Until the early 90s Shell Oil had many great designers and other top professionals. They were second to none when it came to HPHT welldesigns (and offshore development, geophysics etc). Also very pragmatic and hands-on experience.
I remember Leo Broussard, genuine good old boy. He could smoke a big cigar and drink whiskey without taking the cigar from his mouth. But he knew more about well and completion design than anyone else in the world. And he was always willing to share his knowledge. Just not interested in making a career, his passion was designing complicated completions!
Shell International thought in those days a 10K well was high pressure. At this time Shell Oil was already working on 25k and 30k wells. Shell Oil was not so good at deepwater stuff in hostile environments. They, like all americans, relied too much on API standards, the lowest common denominator they could get away with. The North Sea set the world standards and took the lead.
Then came the roaring 90s. Everything had to be done faster, shareholder value, bonuses, do like ENRON etc etc. This led to an influx of fast talking americans with me first, rest later attitude and the contractor will fix it. Scandals like the Tejas Gas disaster (carefully kept away from the press) and other bad things emerged (just check out the Donovan website).
Phil Carrol was quietly removed about 9 months later for his role in Tejas Gas. He presided over the meeting that approved the purchase during the one time there was no rep from Shell International. Neither Herkstroter nor Moody-Stuart could attend so he moved knowing full well that Herkstroter et all were vehemently opposed. Shell Oil became a bust or boom company.
Shell Oil always has been pragmatic with a can-do attitude. But doing first thinking later and this does not work in extreme environments and pushing the design envelope. They put top people (of the old school) and formed Aera which performed brilliantly and revived Bakersfield.
And the fast talking americans then swarmed out over Shell International and changed the culture. Me first, screw the rest. The rest is history….. Do not make the mistake to assume all americans fall in the fast talking category, I have met several genuinely capable and hardworking people from Shell Oil who put the company first and the rest later. But they were a minority.