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Gas production at Groningen field falling faster than planned

|By: , SA News Editor

  • Production at the Groningen natural gas field will come in lower than expected this year as the Dutch government works to end production completely by 2030 in an effort to limit seismic risks in the region.
  • Output will have fallen to 19B-20B cm in the year ending October 2018, the Dutch gas sector regulator says, below the original cap of 21.6B cm set for the year and down from 24B cm last year.
  • The Groningen field is a joint venture of Royal Dutch Shell (RDS.ARDS.B) and Exxon Mobil (NYSE:XOM)
  • read more

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

    Shell and ExxonMobil waive gas claims against Dutch State

    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 DagbladNAM 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

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

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

    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

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

    HISTORICAL OVERVIEW: ARREST OF MOSOP LEADERS, MORE VIOLENCE IN OGONILAND

    It is not known how many people died during the raids, which lasted until August 1994, when the military claimed to have successfully “restored peace” to Ogoniland. In July, the Dutch ambassador told Shell Nigeria’s then chairperson Brian Anderson that the army had killed some 800 Ogonis.

    Extracts from pages 25, 26 & 27 of an Amnesty International document headed: “A CRIMINAL ENTERPRISE? SHELL’S INVOLVEMENT IN HUMAN RIGHTS VIOLATIONS IN NIGERIA IN THE 1990s”

    EXTRACT BEGINS

    ARREST OF MOSOP LEADERS AND FURTHER VIOLENCE IN OGONILAND

    On 21 May 1994, four of the traditional Ogoni leaders, who had fallen out with Ken Saro-Wiwa the previous year, were attacked while they were holding a meeting in Giokoo, Ogoniland. Because of serious flaws in the investigation and subsequent trial, and because prosecution witnesses gave conflicting accounts of what happened, the key facts surrounding the killings have never been fully established. According to the version put forward by the prosecution, the attack was carried out by a mob of hundreds of men.82 The prosecution said that these attackers beat the four traditional leaders to death and then set fire to their corpses. The victims were Chief Edward N. Kobani, who had resigned as MOSOP Vice-President in 1993, Albert T. Badey, Chief Samuel N. Orage and Chief Theophilus B. Orage. read more

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

    Debate Over Netherlands’ Tax Treatment of Shell Heats Up

    June 20, 2018

    By Linda A. Thompson

    Practitioners are divided over whether an agreement between Shell and the Dutch tax administration breaks EU government aid rules. The debate has heated up in recent days after an article released June 18 by a Dutch academic claimed Royal Dutch Shell Plc avoided a tax on dividends by routing shares through a trust in the Channel Island of Jersey. Shell didn’t immediately return a request for comment. FULL ARTICLE

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

    Corruption running through the veins of Shell

    POSTING ON SHELL BLOG BY “SNIPER” 20 JUNE 2018

    There’s a bit of pattern here. Corruption seems to be running through the veins of Shell. We see in all these recent tax articles how they seem to be snuggled up in bed with the Dutch Government. Will anything come of this? Of course not silly. It has been going on for years. There is even a department called Government Relations which is staffed by – yes you guessed it – former government employees. Where was Van Beurden a few days ago, for three whole days? The very secretive Bilderberg meeting in Turin (Guardian article by Charlie Skelton can be found on this website), along with many of the worlds elite businessmen and politicians, AND the Dutch king. The outcomes of the meeting were not something I saw on any of the Shell internal or external communication messaging. Funny that, seeing how they always share even the most mundane van Beurden news. So will Shell be brought to account for its actions in OPL? I somehow doubt it. But there is some hope. Will the real Slim Robinson please stand up. read more

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

    Shell’s dubious tax arrangements

    Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad

    Shell avoids the dividend tax via a tax haven, which would have cost the Dutch treasury – and therefore the taxpayer – at least € 7 billion… The intervention of a ‘trust’ on channel island of Jersey seems to underline the dubious character of the ‘deal’.

    Pressing Rutte to exchange dividend tax increases

    Ulko Jonker • Economics & Politics

    The coalition saw the storm on Saturday morning early. Shortly after Jesse Klaver of GroenLinks repeated his call for a parliamentary inquiry into the ‘cesspool’ around the dividend tax, the parliamentary questions of the financial spokespersons of VVD, CDA, D66 and ChristenUnie were already under State Secretary Menno Snel van Financiën.

    Reason: the disclosure by Trouw that Shell avoids the dividend tax via a tax haven, which would have cost the Dutch treasury – and therefore the taxpayer – at least € 7 billion. They want to clarify this week about ‘the complete ruling policy on the dividend tax of the past 15 years’. How much were they, what was the nature, content and period of validity? And has all rulings checked whether they comply with the laws and regulations? read more

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

    Shell hits back at criticism of tax structure

    Shell hits back at criticism of tax structure

    Reports allege oil group’s plan has cost Dutch treasury as much as £6.1bn in lost income

    Shell has hit back at criticism of a tax structure it set up as part of a relocation of its headquarters from London to The Hague following reports that it has cost the Dutch treasury as much as €7bn (£6.1bn) in lost income. Calls have been made for the European commission to investigate the oil group’s tax affairs after reports claimed that a multibillion-euro bill has been avoided through the use of an offshore trust in Jersey since 2005. FULL ARTICLE read more

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

    DUTCH GOV’T UNDER FIRE OVER TAX DEAL WITH SHELL

    By Janene Pieters on June 18, 2018 

    The Tweede Kamer, the lower house of Dutch parliament, wants the government to explain a controversial deal that Shell made with the Dutch tax authorities in 2005. As a result of this deal, Shell’s British shareholders are exempt from dividend tax in the Netherlands, through which the Dutch treasury lost out on over 7 billion euros, newspaper Trouw reported on Saturday. The Kamer now wants to know whether this tax deal is allowed under Dutch law, and whether any politicians were involved in making it, according to newspaper AD. SP leader Lilian Marijnissen called it a “stinky” deal. GroenLinks wants a parliamentary inquiry into dividend tax. And the four coalition parties – VVD, CDA, D66 and ChristenUnie – jointly submitted questions to State Secretary Menno Snel of Finance. FULL ARTICLE read more

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

    Dutch ecologist party asks for investigation of Shell dividend tax payment

    Dutch ecologist party asks for investigation of Shell dividend tax payment

    Sat 16 June 2018

    The Dutch ecologist party, Groen Links, has asked parliament this Saturday to appoint a commission to investigate payment of taxes on dividends by multinational oil company Shell. According to newspaper Trouw, company has since 2005 avoiding this rate “with permission of Dutch Treasury, through Jersey, island of channel of La Mancha [a dependence British Crown]”. During those years, “Shell has distributed among its shareholders about 45 billion euros, of which 7 billion should have been entered in coffers of state.” Shell claims that it has not violated tax rules. FULL ARTICLE read more

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

    Groningen Earthquakes: Dilemma heaped upon dilemma

    Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele DagbladRoyal 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

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

    NAM Earthquakes: Anger of Groningen Population with Minister Eric Wiebes

    Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele DagbladRoyal 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

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

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

    Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele DagbladRoyal 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

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

    The Heritage Oil trail of Shell’s MI6 hire, Guy Colegate

    By John Donovan

    Shell is the common factor in three multi-million dollar Nigerian oil deals now attracting attention. Namely, the notorious OPL 245 (involving ENI), OML 42 (which Shell sold to Neconde) and OML 30 (which Heritage Oil purchased from Shell). 

    Shell’s MI6 hire, Guy Colegate, was in turn recruited by Heritage Oil because of his involvement in OPL 245, no doubt aware of his exotic pedigree. In an article reporting that he had joined Heritage, Colegate was described as “Shell’s super negotiator“. Colegate is currently a defendant in the OPL 245 criminal case subsequently brought against him in the Italian courts.

    He was one of Shell’s MI6 “people” mentioned by Shell CEO Ben van Beurden in his wiretapped telephone discussion with then Shell CFO Simon Henry, whose sudden departure and controversial payoff was itself the subject of media coverage. The wiretapped discussion took place during a police raid at Shell HQ in the Hague. read more

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

    Large investors ask Shell to set targets to comply with Paris climate accord

    May 22, 2018

    A group of 26 large institutional investors have petitioned Shell to formulate concrete goals in its effort to address the terms of the Paris climate accord.

    The 26 investors, which have a total of $7.8trn under management, presented a statement to the Anglo-Dutch energy giant during Shell’s AGM in The Hague. The group of  26 includes HSBC Global Asset Management, AXA Investment Manager, Aegon, Calpers en MN.

    In its statement, the investors applauded Shell’s ambition to reduce its carbon footprint by 50% and called on other oil and gas companies to follow suit. read more

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

    Netherlands: More than 50 lawsuits loom large as Shell holds AGM

    21 May 2018, 15:41 UTC 

    As oil giant Shell prepares for its annual shareholders meeting in The Hague tomorrow, Amnesty International is drawing investors’ attention to dozens of national and international lawsuits that are currently underway against the company and that could potentially cost it millions. Amnesty International has joined forces with four other NGOS – Global Witness, Groninger Bodem Beweging, Greenpeace and Milieudefensie – to hold a pop-up ‘exhibition’ at the meeting, showcasing details of 16 of the active lawsuits against Shell. read more

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