Royal Dutch Shell Plc  .com Rotating Header Image

Posts from ‘November, 2014’

Swiss Role in Aggressive Tax Avoidance by Royal Dutch Shell

Screen Shot 2014-11-30 at 21.13.40

Screen Shot 2014-10-30 at 09.22.43By John Donovan

The lead article in The Sunday Times Business section today (authored by Simon Duke and David Smith) says that Britain is at the forefront of a crackdown on corporate tax avoidance – a blitz on tax avoidance by multinationals.

The UK Treasury  is planning a consultation on forcing multinationals like Royal Dutch Shell to declare how much tax they pay in every country in which they operate.

Extract

Country by Country reporting would introduce greater transparency into the complex structures used by big companies to minimise their tax liabilities… read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

CEO Ben van Beurden too honest to sign Shell’s Business Principles?

Screen Shot 2014-11-30 at 19.45.25

Screen Shot 2014-10-30 at 09.22.43By John Donovan

It is a year since Peter Voser left his job as Chief Executive of Royal Dutch Shell Plc to allegedly spend more time with his family. Soon after his surprise early exit, Shell announced a profits warning. 

Leaving that contentious issue to one side, I am puzzled that his replacement Ben van Beurden has still not put his name and signature  to the Shell General Business Principles document.

As can be seen, as of todays date, it is still displayed on shell.com signed by Peter Voser in his capacity as Royal Dutch Shell Chief Executive Officer. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Repercussions Of Lower Oil Prices On Energy Sector

Screen Shot 2014-11-17 at 15.01.44

Screen Shot 2014-11-30 at 00.13.13

Screen Shot 2014-11-30 at 00.14.02

Published: November 29, 2014 at 11:11 am EST
By: Micheal Kaufman

The decision by the Organization of Petroleum Exporting Countries (OPEC) to maintain production at 30 million barrels of oil per day came as a shock for most oil companies. As a result crude oil prices fell drastically and West Intermediate Texas (WTI) was down 10% yesterday, to $66.15.

The fall in oil prices has severely affected numerous economies and companies. It was far more than what was expected by experts. Last month, before deciding to take on investment projects, BP plc. (ADR) (NYSE:BP) assumed Brent crude oil prices would be at $80. Goldman Sachs had predicted the price of WTI would hover around $75 for the first three months of next year. Russia had expected average crude oil prices to remain at $100 and had planned its budget accordingly. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Nigerian Parliament Fines Shell 3.96 Billion For Bonga Oil Spill

Screen Shot 2014-11-17 at 15.01.44

Screen Shot 2014-11-29 at 12.34.19

Screen Shot 2014-11-29 at 12.35.24

Published: November 29, 2014 at 6:55 am EST
By: Micheal Kaufman

Nigeria is a member of the Organization of Petroleum Exporting countries and is the largest crude oil producer in Africa. At one point, the country had a great demand for its oil exports in the US and enjoyed high profit margins. However, the US shale oil boom has taken this advantageaway from Nigeria. The hydraulic fracturing techniques have allowed the US to produce oil that is quite similar in composition to the oil produced in Nigeria, reducing its reliability on Nigeria for oil imports. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Oil company shares slumped

OPEC’s decision on Thursday not to cut production in order to prop up oil prices sent markets reeling. Oil company shares slumped, wiping billions off firms’ market value… As they come to terms with the new oil regime, companies will cut spending by up to 10 percent in 2015… and delay new project approvals.

LONDON, Nov 28 (Reuters) – With oil company revenues set to drop on the back of a rout in prices, boards will have to cut investments and increase borrowing to maintain their cherished dividend payouts.

OPEC’s decision on Thursday not to cut production in order to prop up oil prices sent markets reeling. Oil company shares slumped, wiping billions off firms’ market value and leaving dividend payouts as the only solace for shareholders.

The world’s top oil companies, or majors, including BP , Royal Dutch Shell, Total, ExxonMobil and Chevron are already in the midst of a painful belt-tightening process. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Falling oil prices hit Africa more than Ebola

Screen Shot 2014-11-25 at 00.11.12By Ed Cropley

JOHANNESBURG, Nov 27 (Reuters) – Plunging world oil prices have dealt a blow to Africa far greater – in purely economic terms – than Ebola, setting back investment in exploration and plans to industrialise.

The highest profile victim so far has been Africa’s top producer, Nigeria, which was forced to devalue its naira currency by 8 percent this week after the central bank admitted dwindling reserves were making it hard to defend it.

In dollar terms, the devaluation knocked $40 billion off the value of Nigeria’s economy – considerably more than the $32 billion worst-case scenario the World Bank projected in October for Ebola’s economic impact on the entire sub-Saharan region. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Big Oil Optimistic On Gulf Of Mexico Projects

Screen Shot 2014-11-17 at 15.01.44

Screen Shot 2014-11-28 at 09.05.38

After the 2010 Deep Water Horizon oil spill disaster, it seems that economic activity in the Gulf of Mexico has picked up again as big oil companies, like BP and Shell, have started to undertake major projects in the region

Published: November 25, 2014 at 7:13 am EST

By: Micheal Kaufman

The Gulf of Mexico used to be the hub of US crude oil and natural gas industry, before the Deep Water Horizon oil spill in 2010. BP plc (ADR) (NYSE:BP) along with Transocean Ltd (NYSE:RIG) and Halliburton Company (NYSE:HAL) got involved in a massive oil spill in 2010, which killed 11 people and caused major environmental damages. The 2010 oil spill is estimated to be 8-31% larger than Ixtoc 1, which has now become the second-largest oil spill to have occurred in the region. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell admits fracking failure in Ukraine

Screen Shot 2014-11-28 at 08.53.46

Screen Shot 2014-10-30 at 09.22.43By John Donovan

The Russian News Agency Tass is reporting that Graham Tiley, the country manager of Shell Ukraine has admitted in a meeting with a local high-ranking official that Royal Dutch Shell has failed to achieve the desired progress in the Yuzovka gas field in Ukraine’s east.  Tiley blamed the fracking failure on the situation in the neighbouring Donetsk region.

TASS REPORT

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Oil prices continue to fall

Screen Shot 2014-11-25 at 00.11.12Shell, BP and Petrofac shares close down as Opec decides not to cut oil production. Stocks of major oil producers were in the firing line as their profits are hugely dependent on the price of oil they extract. Royal Dutch Shell, for example, fell 4.3 percent while Total SA dropped 4.1 percent.

LONDON — Oil companies saw their shares take a beating Thursday as crude prices slid to their lowest in more than four years after OPEC’s decision to maintain production levels even though prices have fallen sharply in recent weeks.

Unsurprisingly, the stocks of major oil producers were in the firing line as their profits are hugely dependent on the price of oil they extract. Royal Dutch Shell, for example, fell 4.3 percent while Total SA dropped 4.1 percent.

FULL ARTICLE

Oil prices have fallen 30 per cent this year, as a glut in supply was exacerbated by a boom in shale gas in the US. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell CEO Ben van Beurden audience with corrupt despot, the Sultan of Brunei

By John Donovan

Royal Dutch Shell Chief Executive Ben van Beurden had “an audience” on Tuesday with the head of the corrupt, seedy Brunei Royal Family, the Sultan of Brunei, who once accepted a $500,000 wedding gift (bribe) from Royal Dutch Shell.

In April he went ahead, despite international opposition, with his plans to introduce a tough Islamic penal code that under Sharia law will include amputations.

Shell has always been willing to deal with dictators including Adolf Hitler, Muammar Gaddafi and General Sani Abacha. Profits first, ethics last. Shell remains willing to deal with the devil. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

OPEC IN DISARRAY AS OIL PRICE TUMBLES

Screen Shot 2014-02-18 at 18.34.00Major Opec nations, Russia and US shale oil drillers now appear on the brink of a price war as these three giant producing blocs fight for a greater share of global demand. (Potentially disastrous news for Big Oil – ExxonMobil, Shell, BP, Chevron and Total)

Screen Shot 2014-11-26 at 21.33.15

The Telegraph: World on brink of oil price war as Opec set to keep pumping

Extracts

Oil slumped on Wednesday as expectations that Opec will cut production faded following dovish remarks by cartel kingpin Saudi Arabia, which could signal the beginning of a price war. Crude traded in the US fell to as low as $74 per barrel as traders bet that Opec will allow the price to fall further amid growing signs of a global price war amid producers.

Major Opec nations, Russia and US shale oil drillers now appear on the brink of a price war as these three giant producing blocs fight for a greater share of global demand. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell Lied to Dutch Court About Oil Spills in Nigeria

Screen Shot 2014-11-26 at 18.50.09The significance of the Newsweek article is therefore threefold: firstly Shell appears to have misled the court in the Hague which from a reputational perspective is extremely damaging (hence the headline of the article), secondly the case will now return to court for a retrial, and thirdly the lawyers and witnesses in the original case may be subject to legal action by the Dutch authorities.

COMMENT ON NEWSWEEK ARTICLE: Shell Lied to Dutch Court About Oil Spills in Nigeria, Say Friends of the Earth

POSTED BY JOHN DONOVAN

I’m not a lawyer, but the following is my understanding of the significance of the Newsweek article and the case brought by the “Friends of the Earth”.

The two Nigerian cases are actually very significant to anyone forced to confront Shell in a Dutch court.

Unlike the UK or US, there is no “discovery” in Holland and no opportunity to request documents from the other side to support a case.

The system works when everyone is honest, but fails dismally when US or UK lawyers see their role as “misleading the court” to the advantage of their client. For many lawyers, this is of course the basis of hearings in the US and the UK. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

OIL, OIL, TOIL AND TROUBLE

Screen Shot 2014-11-25 at 23.08.21ARTICLE BY STEVEN HAYWARD, PUBLISHED BY POWERLINE 25 NOVEMBER 2014

The fall OPEC meeting is under way right now in Vienna, and all eyes are on the Saudis, to see whether they will lead a strategy to stop the fall in oil prices, which is putting the crimp on Iran, Russia, and Venezuela, among other worthies. We’ve commented previously about what the Saudis may be up to (here and here), and today Business Insider reports that the Saudis show no interest in curtailing production to shore up the price, and in fact may be willing to go for two years or more with falling prices, with some Saudi insiders saying the real objective is to retard the shale oil revolution in the United States and elsewhere… read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Nigeria Suffers After Closure Of Shell‘s Pipeline

Screen Shot 2014-11-17 at 15.01.44

Screen Shot 2014-11-25 at 21.19.01

Nigeria was already under pressure from lower US oil imports due to the US shale boom but the closure of Shell‘s pipeline due to leakage and theft has worsened conditions for the economy

Published: November 25, 2014 at 3:23 pm EST
By: Micheal Kaufman

Nigeria is amongst those members of the Organization of Petroleum Exporting Countries (OPEC) which have suffered the most due to the US shale boom. The oil boom has allowed the US to reduce its dependability on the OPEC for oil imports. Higher oil production coupled with lower demand has led to a fall in the oil price. Since June, crude price has plummeted over 32%.

The quality of Nigerian crude oil is quite similar to the shale oil that is now produced in the US region of North Dakota, and consequently has helped to lower US’ demand for oil imports from Nigeria. This has become a major source of concern for Nigeria as the nation is currently not exporting any oil to the US, compared to exports of 1.3 million barrels per day (bpd) since February 2006. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell Corrib Gas Field testing being carried out illegally?

Screen Shot 2014-11-25 at 00.33.27

A 40m gas flare from the Ocean Guardian drilling rig during a well production test at the Corrib field, 80kms off Co Mayo. Photograph: Shell E&P Ireland Ltd

By John Donovan

Last Wednesday The Irish Times reported that Shell E&P Ireland has begun two months of testing at its north Mayo onshore refinery in preparation for next year’s scheduled production from the Corrib gas field.

I understand from a usually well informed source that the testing is being carried out without an Integrated Pollution Prevention and Control Licence

According to my source, the licence expired on 14 November 2014.

Irish Citizens please take note: I further understand that there is provision under the Irish Environmental Protection Agency rules for any citizen to seek a High Court order where an activity is being carried out in contravention of licensing requirements. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Oil price slump

Screen Shot 2014-11-25 at 00.11.12

Vladimir Putin has said that Russia could suffer “catastrophic consequences” from sanctions, the falling oil price and the sliding rouble, while claiming they would have knock-on effects for other countries.

Prices could plunge to $60 US a barrel if OPEC does not agree to a significant output cut this week, according to market players.

Lower oil prices, while good for the broader U.S. economy, are a threat to what has been a surprising and dramatic surge in oil production in the U.S., and to drilling communities that have come to depend on oil money.  read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan
%d bloggers like this: