Oct 13th, 2022
by John Donovan.
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REUTERS
Shell should have quit Groningen gas project in Netherlands earlier -CEO
AMSTERDAM, Oct 13 (Reuters) – Shell CEO Ben van Beurden told a Dutch parliamentary panel investigating problems relating to natural gas production at the large Groningen gas field in the Netherlands that the company should have pulled out of the project earlier.
Production at Groningen was scaled back sharply over a period of years in the 2010s after the Dutch government and producer NAM, a Shell-Exxon joint venture, realized the earthquakes it caused posed too great a threat to life and property.
“We had to continually ask what makes sense,” as production was dialled back to levels at which NAM made little to no profit, Van Beurden told lawmakers.
“What made sense for Shell was to quit. In any other country we would have stopped this operation. But in the Netherlands that was impossible because the Netherlands was dependent on Groningen gas.”
A damning report in 2015 from the independent Dutch Safety Board had accused the government and the field’s operators of ignoring the threat of earthquakes linked to the field for years. As vast amounts of gas were removed from under the province since 1963, the ground sank and settled above empty pockets, triggering quakes.read more
Shell Energy has left my step-mother without a landline since Fri 30 September, 11 days ago. She is 90 yrs old, has mobility issues, lives in a large, rural property in the middle of the countryside and has – at best – intermittent mobile coverage. If anything were to happen to her she has no means of summoning help. Despite knowing all this, three appointments have been made – and missed – to rectify the fault. Criminally negligent.read more
Oct 12th, 2022
by John Donovan.
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CNN
Shell accused of ‘greenwashing its harmful activities’ following partnership with British Cycling
By George Ramsay, CNN
Updated 9:39 AM EDT, Tue October 11, 2022
CNN —
British Cycling is facing criticism from environmental campaign groups after signing a long-term partnership deal with Shell.
The partnership, which was announced on Monday and runs until the end of 2030, will help by “accelerating British Cycling’s path to net zero,” according to a press release from the governing body.
But environmental groups have condemned the move as an attempt by Shell to “greenwash its harmful activities.”read more
Shell energy broadband is just the worst I have EVER experienced. Without broadband for 2 months (after me sending them numerous e mails with no response, obviously went with someone else!) Phone call from them 2 weeks ago asking how they could help me! Told them to go away! Phone call yesterday basically trying to bully me into paying a cancellation fee!!! It was an incredulous conversation. I told him again….politely, to go away. Got e mail 30 mins later saying they were closing the complaint. Resultread more
Oct 7th, 2022
by John Donovan.
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Reuters
Nigerian oil export terminal had theft line into sea for 9 years
Forcados operator SPDC, a local subsidiary of Shell, said the theft pipeline was distant. “SPDC appreciates the additional surveillance conducted on behalf of NNPC to deal with illegal activities,” a spokesperson told Reuters by email.
ABUJA, Oct 6 (Reuters) – Officials in Nigeria discovered an illegal connection line from one of its major oil export terminals into the sea that had been operating undetected for nine years, the head of state oil company NNPC LTD said.read more
…margins at the FTSE 100 group’s chemicals unit have collapsed from $86 per tonne in the last quarter to an expected minus $27 per tonne, after a fall in global demand for plastics.
The trading update comes ahead of the release of Shell’s third-quarter earnings at the end of the month.
Shell, the world’s biggest trader of liquefied natural gas, added that earnings from its integrated gas business were expected to be “significantly lower” than in the second quarter because of lower seasonal demand and the impact of a “volatile and dislocated” market.read more
Shell has issued a profit warning for the third quarter in a sign the energy giant’s record run of earnings could be coming to an end.
The FTSE 100 company reported a negative margin of $27 per metric tonne in its chemical unit, which is often seen as an indicator of the strength of the wider economy.
That could be a worrying sign of the outlook across Europe, where major industries are struggling to cope with soaring gas prices.
Shell also reported a decline in its refining margins as oil prices eased back from their recent highs.read more
Oct 6th, 2022
by John Donovan.
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The Guardian
Shell’s rapid growth to slow as weaker gas trading hits profits
Europe’s largest oil and gas firm says margins in refining business have nearly halved, hitting third-quarter profitsAlex Lawson Energy correspondent: Thu 6 Oct 2022 10.48 BST
Shell has signalled the breakneck growth that racked up record profits for the oil company earlier this year will slow as weaker gas trading and lower refining margins hit recent profits.
The oil company was criticised for making huge profits during the cost of living crisis as Russia’s invasion of Ukraine pushed up prices of oil and gas. But Europe’s largest oil and gas firm said on Thursday that margins in its refining business had nearly halved, hitting its third-quarter profits which are due to be announced later this month.read more
Oct 6th, 2022
by John Donovan.
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FORTUNE
What every company should learn from Shell’s exemplary CEO succession strategy
Laurie Cure: Wed, October 5, 2022 at 4:59 PM
Global energy giant Shell recently announced that Wael Sawan, its head of integrated gas and renewables, would replace longtime CEO Ben van Beurden by the end of 2022. While important changes to the C-suite are rarely smooth sailing, Shell’s board seems to have followed the three essential characteristics of a successful succession: fast, thorough, and consistent.
In early September, Reuters reported that the board was actively working to name the next CEO upon the retirement of Van Beurden, who plans to step down in 2023 after 40 years with the company. Their sources said the board succession committee had narrowed the list down to a few candidates. Two weeks later, they confirmed the final choice.read more
Oct 6th, 2022
by John Donovan.
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REUTERS
Weaker refining, gas trading to hit Shell’s third-quarter results
KEY POINTS
Shell reported record profits in the first half of the year on the back of soaring energy prices.
The British energy giant now expects lower refining margins and weaker earnings from natural gas trading.
It has seen a slump in demand for plastics as well as lower seasonal demand, and faces growing concerns over a global economic slowdown.
Shell said on Thursday its third-quarter profits would be pressured by a sharp drop in refining margins and
”significantly” weaker earnings from natural gas trading.
The British energy giant reported two consecutive quarters of record profits in the first half of the year amid soaring oil and gas prices, and stellar earnings from its trading operations, the world’s biggest.
But in the third quarter, indicative refining margins dropped to $15 a barrel compared with $28 a barrel in the previous three months, Shell said in an update ahead of its results on Oct. 27, amid growing concerns over a global economic slowdown.read more
After long last they decided to call me about long loss of internet, to say were going to rub this in your face, it’s tough we dont pay for loss of internet. What a utter discrace of customer care, through this, from first reported. Words cannott describe the behavior of this company.
Oct 4th, 2022
by John Donovan.
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REUTERS
‘Tax people in this room’ to help the poor, Shell CEO tells energy conference
Published 04 Oct 2022
European governments should tax the wealthy to help weaker parts of society weather soaring energy costs but not intervene to cap gas prices, Shell Chief Executive Officer Ben van Beurden said on Tuesday.
Speaking before the Energy Intelligence Forum in London, Van Beurden said that European energy prices and the huge volatility in the markets threatened broader social instability.
“You cannot have a market that behaves in such a way … that is going to damage a significant part of society.”
“One way or another there needs to be government intervention” in the face of soaring energy prices, Van Beurden said.read more
Oct 4th, 2022
by John Donovan.
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The Guardian
Shell chief: governments may need to tax energy firms more to help the poor
Ben van Beurden also warns against EU moves to cap price of gas and electricity to protect consumers
Alex Lawson Energy correspondent: Tue 4 Oct 2022 12.35 BST: Last modified on Tue 4 Oct 2022 12.48 BST
The chief executive of Shell has said governments may need to tax energy companies further to fund efforts to protect the “poorest” people from soaring bills.
Ben van Beurden, the outgoing boss of the oil and gas company, told an energy conference in London: “One way or another there needs to be government intervention. Protecting the poorest, that probably may then mean that governments need to tax people in this room to pay for it.
“I think we just have to accept as a society – it can be done smartly and not so smartly. There is a discussion to be had about it but I think it’s inevitable.”read more
Oct 4th, 2022
by John Donovan.
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Bloomberg
Shell CEO Says Governments Need to Tax Energy Firms to Help Poor
Governments need to tax energy producers to help the poorest people deal with the soaring cost of fuel, said the boss of Shell Plc.
Bloomberg News: William Mathis: Oct 4, 2022
(Bloomberg) — Governments need to tax energy producers to help the poorest people deal with the soaring cost of fuel, said the boss of Shell Plc.“
One way or another there needs to be government intervention,” Shell Chief Executive Officer Ben van Beurden said at the Energy Intelligence Forum, a major conference for oil and gas producers in London on Tuesday. “Protecting the poorest, that probably may then mean that governments need to tax people in this room to pay for it.”read more
Absolutely appalling service, I have been with them a little over a month and I am counting the days left in my contract, service constantly cutting out. Cannot imagine a provider any worse, actually has me missing AOL dial-up
Shell Energy recently purchased the Post Office phone and broadband. The service from this company is poor to be polite. No phone or broadband for 5 days Compensation offered £10 when I eventually spoke to someone and said about the Ombudsman service and compensation rates he said we don’t believe in that and not signed up to it. What a sham for such a large company. My advice to anyone thinking of moving to them is don’t find someone else. Just waiting for a fibre connection and then goodbye to this awful company.read more
Debbie: They really are useless little or no customer service. If you do get to talk to someone they haven't got a clue how to solve things. Never been happy since first signing. I never thought I would admit this but they make TalkTalk seem good. I am now fighting against the cost of 39 po7nd because I haven't returned it. Once again they are lying saying they sent out a self addressed envelope for the return of the modem. Must have got lost in the post.Also my contract ended 8th January it is now 24th and they only just let know. As a company they are devious untrustworthy and morally corrupt. They DO NOT deserve even 1 customer
Tailspin: 29th July 2020 Tailwind Energy Investments Ltd (Co. Reg. No.12776446) was incorporated with one ordinary share of £1 issued to Tailwind Energy Holdings LLP (Co. Reg. No. OC430905) for a consideration of £1
23rd December 2020 Tailwind Energy Investments Ltd issued 290 shares of £1 each to Tailwind Energy Holdings LLP in return for 290 shares of NSV Energy Ltd (Co. Reg. No. 06220464) representing a 100% interest in that entity. Following the transaction, Tailwind Energy Holdings LLP became the parent company of Tailwind Energy Investments Ltd. On the date of issue, the shares of NSV Energy Ltd were valued at $479.9 million resulting in the recognition of an investment of $479.9 million.
On 1st November 2021, Tailwind Energy Investments Ltd declared a dividend of $36.4 million. Tailwind Energy Investments Ltd entered into an agreement with its now subsidiary NSV Energy Ltd to pay the dividends directly to its parent's ultimate shareholders.
For the period ended 31st December 2021 Tailwind Energy Investments Ltd recorded a profit of $36.4 million arising from a dividend declared by its subsidiary in November 2021.
Dividends of $36.4 million ($125,245.7 per share) were declared by Tailwind Energy Investments Ltd for the period ended 31st December 2021.
Companies House records show for Tailwind Energy Holdings LLP under 'People' the following:
Cavendish Energy Holdings Ltd (Co. Reg No.12154073)
Mecuria Asset Holdings (Hong-Kong) Ltd A Private Ltd Company
Mercuria Holdings (UK) Ltd (Co. Reg. No. 123718128)
Companies House Records show that Tailwind Energy Holdings LLP is the 'Designated Member' and only 'Designated Member' for each of the above three companies. There is a 'circularity' here that does not seem correct. Where did the dividend go?
Tailwind Investments Ltd Annual Report and Financial Statements period ended 31st December 2021 indicates Page 16 7.
Tailwind Energy Investments Ltd is a wholly owned subsidiary of Tailwind Energy Holdings LLP itself a 51% subsidiary of Cavendish Energy Holdings Ltd (Co. Reg. No. 12154073) . Cavendish Energy Holdings Ltd is also the ultimate parent company and ultimate controlling party which prepares consolidated financial statements.
Companies House Records show under 'Appointments' for Cavendish Energy Holdings Ltd that Tailwind Energy Holdings LLP is the 'Active LLP Designated Member'.
Where did the $36.4 million dividend go?
Bogus Group: Thanks to Wrath for the clarification.
I recall a lot of competent and committed people at BG Group, I also recall a toxic culture among those aspiring to climb the leadership “greasy pole” at all costs. If Mr Gould’s disparaging comments were not aimed at the latter group, it’s no surprise the meeting ended on a low note. These are the people that set targets, but if they can’t perceive how to deliver, someone (not them) has to be held to account.
Seems like the pressure was being felt regarding Queensland Curtis LNG and the toxic ‘blame culture’ was in full-swing. I understood the cost overrun on this project was in the region of £3.3bn, which is surprising as their General Counsel at the time had written the highly regarded book ‘Project Finance’. It must have been left behind in TVP in preference for “back-end loading”.
Wrath: In response to Bogus Group's enquiry.
The reference to Contractors being given 'equal' status to Employees refers to a speech given by Andrew Gould, then Executive Chairman of BG Group, at a Townhall meeting in the BG cafeteria in the Hutton Building, Thames Valley Business Park, in Q4 2014.
At that Townhall meeting Mr Gould, during his speech to the assembled staff, made many references to 'you' (meaning BG Group Staff) failing to meet targets. (A Freudian slip, perhaps, given his ambition for a knighthood?). Eventually, a senior staff member in the audience corrected Mr Gould and said that he (the senior staff member) would feel happier if Mr Gould used the pronoun 'we' instead of 'you', at which point Mr Gould accepted the criticism and corrected himself. During that speech, Mr Gould also said that it was vital that BG Group meet their targets, especially first export of QC LNG coalbed methane to LNG, by year end. In order to achieve this he said that BG Group Contractors would have 'equal' status to BG Group Employees i.e. 'all hands to the pumps'. That meeting was recorded.
Shell makes $70bn BG offer (oedigital.com)
It was at the end of that meeting, that Sami Iskander, then Chief Operating Officer, stood up and to whoever would listen as they 'fled' the cafeteria with their ears burning made the statement that BG Group, the previous year (?) had spent £200MM assuring work which later cost the company £2Bn because it was wrong.
Bogus Group: Would like to hear more on the thread of these interesting comments.
Contractors were not always on ‘equal status’, particularly when it came to safety. In the BG Group 2010 annual report, Chapman’s statement that contractor safety would be a particular focus in 2011, seemed to infer that contractor performance was the issue, however, BG Group were ultimately responsible for those at the worksites, including contractors. In 2012, his “deep regret” of the unacceptable safety performance deterioration in 2011, would appear to indicate the “particular focus” was misconceived.
Wrath: Andrew Gould, former Executive Chairman of the failed BG Group, whose motives were questionable, would be well reminded that putting contractors on equal status as company employees in order to meet 'stretch' targets is in direct conflict with the 'Constitutions' of the various 'Bodies Corporate', despite alignment through 'bridging' documents.
in response to Wrath...: Technical safety across the board has suffered a similar mindset... "as long as it doesn't blow-up on my watch, it's <>." the new SEAM organization has made it abundantly clear, that safety has to be in "balance with business drivers of production and affordability." When it eventually goes boom, it will be blamed on TSE not the folks who are sweeping the concerns under the rug. the new emperors have no clothes!
Wrath: Subsurface Technical Staff at Shell who previously worked for BG Group would be well advised to remember that reserves should not be booked on subjective technical workflows and furthermore that both the technical workflows used in calculating reserves and their results should be reproducible by the Auditors. The BG philosophy of 'it's alright as long as the oil and/or gas is flowing out of the ground and we don't know where it is coming from' is irresponsible, short sighted and to the detriment of Shell's shareholders. This attitude should be dropped pronto!
Astudley: Internet down 3 times for a day at a time. Reported it never had any contact back or reason given. Useless company out at end of contract.
ANON: RE: Nigerian oil export terminal had theft line into sea for 9 years
Sometimes I think I have seen it all and then this comes along
Nigeria is simply doomed with all the corruption.
Take it from me, this is a major operation to fix. So the top brass must have been involved. Half or more of the population is scratching a living in miserable circumstances, there is no more rule of law and these gangsters lay a pipeline from a terminal and steal oil.
Simply beyond what I can imagine.
TERRIBLE: They cut off my 87 year old moms phone. This isn't just a phone for people of that age its and essential lifeline.
After spending an hour on hold I eventually got through to the customer service department. They said a bill hadn't been sent because of billing issues. That's why it wasn't paid.
So, I settled the bill over the phone.
The following day the service was resumed and a demand for the money paid over the phone was sent to her house.
How incompetent are these people.
I spent another hour on hold. No reply to the call at all this time.
No response to my emailed complaint.
Obviously I now have to find another provider.
But a lot of stress for my mother.
DO NOT DEAL WITH THESE PEOPLE.
They are the worst of the worst.
Date of experience: 10 September 2022
Listen and read proof in audio and transcript form of Shell CEO Ben van Beurden’s cover-up tactics in the OPL 245 Nigerian corruption scandal. The instruction given by him in the covertly recorded call to CFO Simon Henry was at odds with Shell’s claimed core business principles. Cover-up and obstruction, instead of transparency and integrity, says Shell critic John Donovan
JOHN DONOVAN TV DOCUMENTARY INTERVIEW
SHELL EXECUTIVES AT THE CENTER OF A SCHEME TO STEAL $1.3 BILLION FROM NIGERIA’S PEOPLE
SHELL ADMITS DEALING WITH NIGERIAN MONEY LAUNDERER – BBC NEWS
SHELL, ENI AND NIGERIAN OFFICIALS IN OPL 245 CORRUPTION SCANDAL
INVESTIGATION OF OPL 245 NIGERIAN OIL CORRUPTION SCANDAL
DUTCH EARTHQUAKES CAUSED BY SHELL/EXXON
SHELL KILLS FOR OIL IN NIGERIA
ESTHER KIOBEL SUES SHELL FOR COMPLICITY IN HUSBANDS MURDER
ESTHER KIOBEL: EVIL OIL GIANT SHELL COLLUDED IN THE EXECUTION OF MY INNOCENT HUSBAND
SHELL LIED ABOUT CLEANING UP OIL IN NIGER DELTA
SHELL SPIES INFILTRATED NIGERIAN GOVERNMENT
LEGO DROPS SHELL OVER GREENPEACE OIL SPILL VIDEO
SHELL ARCTIC DRILLING ACCIDENTS
SHELL KNEW ABOUT CLIMATE CHANGE DECADES AGO
ABANDONED BY SHELL: KEITH MACDONALD & FAMILY, VICTIMS OF RADIOACTIVE CONTAMINATION AT WORK
ROYAL DUTCH SHELL FOUNDER SIR HENRI DETERDING, NAZI FINANCIER
JOHN DONOVAN PROMOTIONAL GAMES FOR SHELL AND OTHER CLIENTS
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON 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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13 Oct 2022
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