News and information on Royal Dutch Shell Plc
By John Donovan
The BBC recently published an article under the headline: Shell’s legal woes over Nigeria’s oil.
The article listed some of the growing numbers of lawsuits being brought against Shell in multiple legal jurisdictions, all arising from Shell’s deplorable conduct in Nigeria.
The damaging global news coverage reporting on the various court actions seems to have stung Shell’s CEO Ben van Beurden into threatening that Shell may pack its corporate bags and pull out of Nigeria.
Court Issues Criminal Summons Against Shell, 7 Others over Alleged Oil Theft
By Alex Enumah: February 25, 2021
A judge of an Upper Area Court in Abuja, Gambo Garba, on Thursday issued a criminal summons against Shell Petroleum Development Company (SPDC) of Nigeria and seven of its top executives over alleged stealing of 16 million barrels of crude oil through the use of a fraudulent and unapproved metering system.
The executives summoned were Chibueze Uduanochie, Simon Ruddy, Bashir Bello, Osagie Okunbor, Igo Weli, Toyin Olagunji and Captain Callium Finlayson.
Which Banks Are The Biggest Backers Of Oil And Gas?
About a month ago, BlackRock Inc.(NYSE:BLK), the world’s largest asset manager with $9 trillion in assets under management (AUM), sent shockwaves through the fossil fuel sector after it vowed to double down on climate activism by backing more shareholder resolutions on climate change and social issues in 2021.
Around the same time, the $226 billion New York State pension fund and the $5B Rockefeller Brothers Fund announced plans to divest the majority of their fossil fuel investments and also sell shares of other companies that have been actively contributing to global warming.
Despite Its Pledges, Shell Funded Anti-Climate Lobbying Last Year
The oil giant belonged to one group that pushed for a rule designed to preempt banks’ policies against lending for Arctic drilling and coal mining.
Royal Dutch Shell vowed last September to reach net-zero carbon pollution in its business by 2050. The goal was vague but notable, and seemed to become more realistic when the corporation announced earlier this month that its crude oil production had peaked in 2019 and would likely never increase again.
Court Fixes March 2 for Ruling on Two Applications against Shell, Four Others
By Davidson Iriekpen: FEB 25, 2021
Justice Oluremi Oguntoyinbo of the Federal High Court in Lagos yesterday fixed March 2 for ruling on whether to entertain the motion challenging the jurisdiction of the court or the contempt proceedings in a suit Aiteo Eastern E & P Company Limited filed against Shell Petroleum Development Company Limited and four others.
The judge fixed the date after listening to arguments from counsel in the suit.
Show us the plan: Investors push companies to come clean on climate
FILE PHOTO: Swedish climate change activist Greta Thunberg takes part in a climate strike protest during the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 24, 2020. REUTERS/Denis Balibouse/File Photo
LONDON/BOSTON (Reuters) – In the past, shareholder votes on the environment were rare and easily brushed aside. Things could look different in the annual meeting season starting next month, when companies are set to face the most investor resolutions tied to climate change in years.
3 former Shell employees linked to $200 million gas oil heist charged with graft
SINGAPORE – Three former Shell Eastern Petroleum employees linked to a $200 million gas oil heist have been charged with bribing employees of surveying companies who inspected vessels which the oil giant supplied fuel to.
Juandi Pungot, 44, Muzaffar Ali Khan Muhamad Akram, 40, and Richard Goh Chee Keong, 51, appeared before a district court on Tuesday (Feb 23) to have their charges read out to them.
All three had previously been charged with criminal breach of trust over their alleged involvement in a conspiracy that led to more than 300,000 tonnes of gas oil worth about US$150 million (S$200 million) being stolen from Shell’s biggest global refinery.
Shell moves to recover frozen bank accounts
Shell Petroleum Development Company (SPDC) has said it is working to secure expeditious discharge of court order freezing its accounts, which was obtained by AITEO Eastern (E&P) Company Limited.
AITEO had sought an ex-parte order from a Federal High Court in Ikoyi, Lagos for an injunction directing 20 commercial banks to block accounts of SPDC and affiliates of the Royal Dutch Shell company operating in Nigeria in a bid to recover cash value of more than 16 million barrels of crude allegedly diverted by the oil giant.
Shell’s Nigerian accounts frozen in oil deal dispute
Feb. 19, 2021 9:59 AM ET Royal Dutch Shell plc (RDS.A) By Carl Surran, SA News Editor: 12 Comments
Nigerian court freezes Shell accounts ahead of Aiteo lawsuit
The lawsuit is latest in a string of legal headaches for the biggest international oil company operating in Nigeria, Africa’s biggest oil exporter.
By Libby George: FEBRUARY 19, 2021LAGOS (Reuters) – A federal court in Lagos has issued an injunction barring Royal Dutch Shell’s Nigerian subsidiaries from withdrawing money at 20 local banks until it ringfences potential damages in a lawsuit brought against the oil major by Aiteo Eastern E&P.
Aiteo is seeking about $4 billion in total over alleged problems with the Nembe Creek Trunk Line (NCTL) pipeline it bought from the Anglo-Dutch group in 2015 and over claims Shell undercounted its oil exports.
Landmark court ruling could ‘end impunity’ for Shell and other multinationals
A major court defeat for oil and gas giant Shell could herald the end of “a long chapter of impunity” for multinationals implicated in human rights abuses overseas, lawyers and campaigners have said.
The UK Supreme Court ruled on Friday that the Ogale and Bille communities in the Niger Delta can bring legal claims for clean-up and compensation against Royal Dutch Shell plc (RDS) and its Nigerian subsidiary, the Shell Petroleum Development Company of Nigeria (SPDC).
Shell says new ‘Brazil-sized’ forest would be needed to meet 1.5C climate goal
Shell’s new ‘Sky 1.5’ scenario has scaled up nature-based solutions, but the oil-and-gas major’s pathway is nearly identical to the Paris Agreement’s ‘well-below 2C’ goal, an analysis by Carbon Brief revealed.
By Josh Gabbatiss, Carbon Brief: Feb. 17, 2021For the first time, Shell has released a “pathway” showing how the world could potentially meet the Paris Agreement’s ambitious goal of limiting global warming to 1.5C.
The case is the latest attempt by local communities to seek compensation from large commodities companies in European courts after the UK Supreme Court on Friday allowed Nigerian residents to sue Royal Dutch Shell (RDS) in England over years of oil spills. “This is, sadly, yet another case of a giant corporation that is more than happy to exploit the natural riches of an area but has had little consideration for those who live in it…
Brazilian residents sue Braskem in Dutch court over salt mines
Shell’s Strategy Is Satisfactory
The Global Investor: Feb. 14, 2021The purpose of this article is to analyze Shell’s recent and very important Strategy Day. Shell had promised to give a lot of detail on an organizational restructuring at this event and it had the potential to radically change Shell’s direction. This means the Strategy Day presentations had a possibility to change my bullish thesis on the company. In that article I also gave some of my expectations of what I expected to see in Shell’s Strategy Day, and here I review the key takeaways of the Strategy Day and what they mean for my bullish thesis.
Editorial: Big oil confronts climate change – not a minute too soon
On Thursday, one of the world’s largest oil companies — Royal Dutch Shell — confirmed it will never again produce as much oil as it did in 2019. Peak oil production at Shell, said CEO Ben van Beurden, has come and gone.
The week before, ExxonMobil had made a similarly telling announcement: It is spending billions on a subsidiary formed to advance technologies to reduce the company’s carbon emissions and develop new products to help its customers do the same.
Shell Files Arbitration Against Nigeria Over Spill Dispute
William Clowes: Feb 13 2021, 7:57 PM Feb 13 2021, 10:38 PM
(Bloomberg) — Royal Dutch Shell Plc launched arbitration proceedings against the Nigerian government over a long-running community dispute.
The oil major’s Netherlands-registered holding company and a Nigerian unit filed a case at the World Bank’s International Centre for Settlement of Investment Disputes on Feb. 10, according to the Washington-based organization’s website. Shell brought its claim against Africa’s biggest crude producer under the bilateral investment treaty between the governments of the Netherlands and Nigeria, it said.
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: It is not clear why the once upon a time VP Developments, Brazil is now VP Subsurface Excellence, given that the Brazil Asset under her stewardship spent at least five years down a giant rabbit hole using a corrupt workflow that resulted in a significant overbooking of reserves.
: On this day in 2016 the fate of BG Group, an Internet Cafe and Cappuccino Lifestyle company was sealed. See: https://www.shell.com/about-us/what-we-do/combining-shell-and-bg-a-simpler-and-more-profitable-company.html https://www.theguardian.com/business/2016/jan/28/35bn-shell-takeover-approved-bg-shareholders
: John,
Re:Links between Samuel Iskander and corruption
Dave Freeman currently Chief Operating Officer at privately owned Tailwind Energy and previously Upstream Technical Director (COO Office) at BG Group should be able to answer your question.
REPLY BY JOHN:
Many thanks, I will pass that information on to the investigative contact.
: POSTED ON BEHALF OF AN INVESTIGATIVE CONTACT:
Newly former Shell executive Sami Iskander has been appointed CEO to London-traded energy company Petrofac, which is facing corruption allegations in Italy and from the U.K.'s SFO. The question is whether Iskander, who was one of only four executives from British Gas retained by Shell when the two merged in 2015, brings any baggage with him?
In general, what kind of a reputation does this man have in the London energy business community?
: Further to Bogus Group's post below, see: https://amp.theguardian.com/politics/2021/feb/02/sir-simon-robey-the-accidental-banker-adding-george-osborne-to-the-fold
: https://www.dailymail.co.uk/news/article-9211393/George-Osborne-lands-new-job-quits-roles-Evening-Standard-BlackRock.html The revolving door is still in motion. Links to Robey Warshaw, BG Group advisor on Shell deal, links to the “Notting Hill Set”, links to politicians, links to the authoress of “The Gatekeeper”, links to Brunswick, Shell/BG Group PR company, links to BlackRock….and others.
: The long overdue structural reorganisation at Shell is rapidly approaching. No better place to start than within the Brazil Asset which has been propped-up for over ten years now by the same BG Group sycophants who have a proven track record of overbooking reserves on the basis of flawed functionall approved technical workflows. These individuals are still clinging desperately to their positions five years after the takeover of BG Group by Shell. Can it be that Shell cannot afford to move them on lest their poor work and lies be revealed? Get rid of them, truth and transparency are now required if not demanded in the Brasil Asset!
: More BG Group (Shell) executive 'turmoil'. Just love the "stepping down with immediate effect for personal reasons" euphemism.
: 330 job cuts in Aberdeen, with the new rhetoric by a Shell 'spokesperson', "this intends to ensure we are set up to thrive throughout the energy transition and be a simpler organisation". https://www.upstreamonline.com/exploration/330-job-cuts-oil-giant-shell-lays-out-losses-to-uk-team/2-1-942991
: Shell has not revealed the cost of Prelude but analysts estimate the price tag has ballooned to as much as A$17bn ($13bn). The Anglo-Dutch company reported $9bn in impairment charges on its Australian gas assets in the second and third quarters of 2020. https://www.ft.com/content/6ba54787-6d21-48d2-93b2-273cdcf48455
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