The NAM, for example, had the reputation of being an exemplary company that neatly arranged its affairs for its citizens. That picture is different now. Allegations that the risks of gas extraction from small fields are not so, are no longer believed.

Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad. NAM is the Shell/Exxon Joint Venture company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions to deal with damaged residences.

Gas is now a dirty word outside of Groningen

Bas Knoop

The earthquake trauma of the Groningers now also causes unrest among citizens living near smaller gas fields. From Steenwijkerland to Waalwijk: more and more places are brewing resistance. Together with local authorities, citizens make gas extraction the subject of a political and legal battle with The Hague. read more

Below is an English translation of a Dutch article published by the NRC last night. It suggests that Shell and Exxon are getting away with very good terms in regards to the financial fallout from the Groningen earthquake damage debacle. Basically Shell and Exxon are cleverer than the negotiators of the Dutch government. The article author Menno Tamminga makes the comparison ‘how would Putin have handled this’? With referral to Putin blackmail tactics used against Shell in the Sakhalin2 debacle. read more

Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad. NAM is the Shell/Exxon Joint Venture company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions to deal with damaged residences.

Three quarters of Groningen victims accept NAM offer

Louis Hoeks • Economics & Politics

Of all 6199 Groningers with outstanding reports about earthquake damage to their homes, almost 74%, 4562 people, accepted the offer from the Nederlandse Aardolie Maatschappij (NAM) for compensation. In almost 10% of cases, the proposal was rejected and almost 17% have not yet responded. This is apparent from a letter that Dutch Minister Eric Wiebes of Economic Affairs and Climate sent to the House of Representatives on Thursday.

These are claims for compensation that were submitted before 1 April 2017 and therefore do not fall under the damage protocol presented on 31 January of this year. “We are unhappy that some people have rejected NAM’s offer,” said Wiebes Thursday in a parliamentary debate. The minister spoke with NAM, together with Commissioner of the King René Paas. read more

Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad. NAM is the Shell/Exxon Joint Venture company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions to deal with damaged residences.

Nijboer wants reaction from cabinet to NAM guarantees

Carel Grol • Entrepreneurship

Member of Parliament Henk Nijboer (PvdA) wants a response from the government to the message in the FD that Shell and ExxonMobil offer limited security with the NAM agreement. Lawyer and professor Steef Bartman of Leiden University wrote in an opinion piece in this newspaper on Monday, in which he wondered whether NAM can fulfill its obligation to damage and strengthen at any time.

A week ago Minister Eric Wiebes of Economic Affairs concluded a deal with Shell and ExxonMobil. The oil companies said they stood surety for ‘Groningen’. However, a number of provisions leave room for Shell and ExxonMobil to renegotiate in the future the guarantees issued and the financial distribution of gas revenues. read more

Groningen needs reinforcement: watchdog

The repair and reinforcement of Dutch homes damaged by gas-extraction earthquakes in Groningen needed to be speededup, the state supervisor on mines SoDM told economic minister Eric Wiebes.

Monday 2nd July 2018

RTL Nieuws reported that SoDM found approximately 1,900 homes in the region that, if not reinforced quickly, would no longer meet official safety standards. The distinctly Dutch rules state the risk of someone dying in an earthquake must not be higher than the risk of someone drowning in a flood elsewhere in the Netherlands. Another 3,100 homes needed urgent attention and 2,100 others needed temporary reinforcement, at least until 2021, the watchdog reported. Declining output at the natural gas field meant only temporary reinforcement was essential, it added. read more

Jun. 27, 2018 2:57 PM ET|By: Carl Surran, SA News Editor

Groningen Earthquake Damage: ‘Due to the declining gas extraction and the increased costs of damage and reinforcement, the current so-called payment scheme is no longer tenable’

Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad. NAM is the Shell/Exxon Joint Venture company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

Shell and ExxonMobil waive gas claims against State

From our editor • Economics & Politics

Shell and ExxonMobil, each with an interest of 50% in NAM, will waive a claim against the State for the gas that remains in the ground after the extraction has ended. Furthermore, the two oil companies offer guarantees that NAM can and will always pay for earthquake damage and the reinforcement of buildings.

This is evident from the agreement in broad lines that Minister Eric Wiebes of Economic Affairs and Climate has concluded Monday with Shell and ExxonMobil about gas extraction from the Groningen field. It is expected that around 450 billion cubic meters of gas will remain in the ground after the extraction. At the current gas price, this represents a value of around € 70 billion. read more

Shell, Exxon not to seek compensation for end of Groningen gas production: government

Reuters Staff: Monday June 25, 2018

AMSTERDAM (Reuters) – Energy companies Royal Dutch Shell and Exxon Mobil will not submit a claim for missed revenue due to the Dutch government’s decision to halt gas production at the Groningen field by 2030, the Dutch ministry of Economic Affairs said on Monday.

“A lot of gas will be left in the ground,” Economy minister Eric Wiebes said at the presentation of his deal with the oil majors responsible for extracting Groningen gas.

“That gas is the property of the oil companies, but they will not submit a claim and the government is not required to compensate them.” read more

Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad. Royal Dutch Shell and ExxonMobil each own a 50% share in NAM, the company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

“The minister cannot sign a deal with Shell and Exxon, which involves billions of euros…

Shell and Exxon lack trump card in negotiations with Wiebes

BY BERT VAN DIJK AND GIJS DEN BRINKER

Negotiations between Minister Eric Wiebes of Economic Affairs & Climate and oil companies Shell and ExxonMobil about gas extraction in Groningen are almost complete. Within two weeks, the minister will present a coalition agreement on the billions issue. Which cards are on the table?

1. Security of supply

Minister Wiebes announced at the end of March that he wants to bring gas production in Groningen to zero as quickly as possible. That would mean that the gas extraction by those lower volumes would soon no longer be profitable for Shell and ExxonMobil. Even though there is hardly any money to be gained from gas extraction, several sources report the FD. read more

Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad. Royal Dutch Shell and ExxonMobil each own a 50% share in NAM, the company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

The Minister wants, as he explained once more, to avoid the risk of unnecessary housing being demolished by the reduction of gas production. By carefully examining the new situation first, it must be prevented that ‘an entire province is unnecessarily demolished…’

Minister Wiebes wants to make up again with the Groningers

Louis Hoeks • Economics & Politics

There were no apologies, but on Thursday Thursday Eric Wiebes was expressly looking for an understanding of the House of Representatives and the Groningers, many of whom occupied the public gallery. Originally, the debate was about the historic cabinet decision to close the Groningen gas tap in 2030.

Instead of praise for the March decision, the high-spirited quarrel in which the Minister of Economic Affairs and Climate had ended last week dominated. Not only the Groningen population is angry, but also a large number of regional administrators, such as former PvdA politician Hans Alders who stepped up as National Coordinator Groningen last week. read more

Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad. Royal Dutch Shell and ExxonMobil each own a 50% share in NAM, the company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

‘Big step forward’ in dealing with Groningen earthquake damage claims

Lone Mugstorm • Economy & Politics

The Nederlandse Aardolie Maatschappij (NAM) has already dealt with more than half of the claims relating to natural gas extraction in Groningen. This is what Minister Wiebes of Economic Affairs reports in a letter to the House of Representatives on Friday.

These are the approximately 5,600 claims submitted before 31 March 2017. These will still be handled by NAM. Residents of Groningen who have suffered damage from gas extraction after that date can now go to a special government counter. read more

…other extra costs, such as repair and consolidation of houses, will soon be charged to the national debt to the extent that they are not paid by NAM. How high they are remains to be seen…

Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad. Royal Dutch Shell and ExxonMobil each own a 50% share in NAM, the company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

Extra ‘Groningen’ costs at the expense of national debt

From our correspondent • Economy & Politics

The Spring Memorandum has yet to be ratified in the Cabinet, but is in broad terms ready, as sources in The Hague confirm. Education will receive €60 million on balance this year. A setback of €200 million, partly due to higher student numbers, could only be covered for €140 million within its own budget.

At the instigation of VVD and CDA, the Ministry of Justice also receives such an amount, but that is only from 2019, as agreed. As in previous years, the extra expenses can be easily absorbed from the windfalls that occur in social security and healthcare. read more

Incidentally, the cancellation of Shell’s investment in the Groninger gas field to zero does not mean that there can not be any more burdens. The company expects to have to write off part of the gas reserves in Groningen at the end of this year as well.

Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad. Royal Dutch Shell and ExxonMobil each own a 50% share in NAM, the company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

NAM and Shell write ‘Groningen’ to zero, ExxonMobil not yet

Bert van Dijk • Entrepreneurship

Oil companies Shell and ExxonMobil differ from each other about the value of the large gas field in Groningen. Shell and ExxonMobil are the shareholders of the Dutch Petroleum Company (NAM), which operates the Groninger gas field.

The British-Dutch Shell has written off its investment in the NAM’s Groningen gas field in the past quarter, whereas the American ExxonMobil has not adjusted the value of its investment in ‘Groningen’. This is evident from the first quarter results that both companies recently announced. read more

Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad. Royal Dutch Shell and ExxonMobil each own a 50% share in NAM, the company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

We thank scarce technical talent for a career at ‘dirty’ Shell

Van Beurden emphasizes time and time again that Shell wants to be a company that not only pleases its shareholders, but also has an eye for a changing society. But at the same time it has to do with green activism among shareholders, a climate law case of Milieudefensie, allegations of corruption in Nigeria and, through NAM, co-responsibility for the Groningen earthquakes.

Johan Leupen: Bert van Dijk • Economics & Politics

The status of Shell as a favorite employer for technical students is a thing of the past. Young, highly educated technicians often prefer sustainable companies. They do not want to work for a company that uses old energy sources such as oil and gas.

This is evident from a tour of technical students and headhunters. ‘We see that companies such as Shell have been particularly troublesome,’ says Joost Fortuin, director of recruitment and headhunting agency Page Group Nederland. ‘Many technicians from Delft do not want to identify themselves with this type of companies anymore. You do not contribute to a better, more sustainable world. ‘ read more

Thursday 26 April 2018

Shell has written off its entire $244m investment in gas production company NAM in a move seen as a further attempt to distance itself from the troubled company.

NAM is a 50-50 joint venture between Shell and ExxonMobil and faces huge damages claims because of the earthquakes in Groningen province which have been caused by the extraction of natural gas.

The one-off charge was booked in first-quarter earnings published on Thursday, according to the Financieele Dagblad. read more

By Janene Pieters on April 26, 2018 – 12:20

In its bookkeeping, Shell is reducing the value of its interest in NAM to zero in response to the Dutch government deciding to completely stop gas extraction in Groningen in the coming years, RTL Nieuws reports.

Dutch petroleum company NAM is responsible for gas extraction in Groningen. NAM is owned half by Shell and half by ExxonMobil. Depreciating its shares in NAM is costing Shell 244 million dollars, according to RTL.  

The Dutch government concluded that safety in Groningen can only be guaranteed if the cause of the gas extraction earthquakes in the province is completely removed. The government therefore plans to reduce gas extraction in the province to 12 billion cubic meters by 2022 at the latest. From October 2022 gas extraction will be reduced to 7.5 billion cubic meters “and possibly considerably less”. And after that it will gradually be reduced to zero. read more