News and information on Royal Dutch Shell Plc
Victoria faces another blow to its economy after Royal Dutch Shell reportedly sold Geelong refinery, putting 500 jobs at risk. The oil major sold the asset and its Australian petrol stations to Dutch-owned oil trader Vitol and the Abu Dhabi Investment Council for about $2.4bn, Fairfax Media reports. It is believed that Vitol, the world’s largest oil trader, has earmarked the 60-year-old refinery for closure…
By Athena Yenko | February 3, 2014 2:57 PM EST As a result of the massive decline in its annual profit announced Thursday, Shell today confirmed that it is putting its 900 Australian petrol stations for sale to recover from the 39 per cent slump of its profit. Shell also announced its plan to sell its 32 Australian fuel terminals, including the Geelong refinery which had been in the market since the early quarter of 2013. Company Chief Executive Ben Van Beurden says he will not reveal the details.
Royal Dutch Shell’s Arrow Energy coal seam gas venture in Queensland is set to cut potentially hundreds of jobs as speculation mounts that the proposed LNG project will be a casualty of reined-in spending by the oil major. One source said up to 600 jobs would go, representing half of the workforce.
Royal Dutch Shell’s Arrow Energy coal seam gas venture in Queensland is set to cut potentially hundreds of jobs as speculation mounts that the proposed LNG project will be a casualty of reined-in spending by the oil major.
One source said up to 600 jobs would go, representing half of the workforce. Another put the figure at 400 jobs out of the 1200 employed at the venture, which is half-owned by PetroChina.
The statement comes amid media reports that managers in Arrow were travelling to regional centres in Moranbah and Dalby to kick off the job reductions.
Shane Fowles: Herald Sun: September 11, 2013
SHELL has confirmed it is in talks with potential buyers for its Geelong refinery.
In encouraging signs for the 600 employees and contractors left in limbo by Shell’s decision to sell the 59-year-old refinery, the company has revealed it has held initial discussions with prospective suitors.
“We have received good interest from prospective buyers and will continue to make every effort to achieve a successful sale,” a Shell representative said.
Shell’s Geelong workers and senior management were told the news yesterday morning, just moments before a public announcement that the company was putting the refinery up for sale.
While workers were told not to talk to the media, union boss Ben Davis said the 450 Shell employees and 150 plus contractors were sickened by the announcement.
Shell has given itself 12 months to find a buyer for the Geelong refinery or face possible conversion to a fuel terminal with a greatly reduced workforce.
ABOUT 450 fearful Shell refinery workers in Geelong face a long wait for a lifeline that analysts and unions doubt will ever come. The petroleum giant has announced plans to sell its last remaining Australian refinery, but if it can’t find a buyer by the end of 2014 to keep it open, it may convert the site to a fuel import terminal.
If that happens, the Australian Workers Union (AWU) says hundreds of jobs will go, with only 50 to 100 workers needed to staff a terminal.
Financial data firm Morningstar’s head of equities, Peter Warnes, says Shell will struggle to sell the 60-year-old refinery.
“Shell have got no chance of finding a buyer,” Mr Warnes told AAP.
ROYAL Dutch Shell is putting its Geelong refinery up for sale, threatening the jobs of more than 500 workers in a city unions say is “already on its knees”.
The oil giant says if it can’t sell the refinery, it will consider turning it into a fuel import terminal to supply its local marketing and distribution business.
The move is another blow to Australia’s struggling refining industry, which cannot compete with giant refineries in Asia.
In 2011, Shell said it would close its only other refinery, at Clyde in Sydney, and convert it into an import terminal – a move that meant the loss of about 350 jobs.
An executive of Shell has said the future of the oil company’s Geelong refinery is ‘borderline’.
Shell global downstream director Mark Williams said the operation of the refinery at Geelong was ‘questionable’ given the challenges faced.
‘It’s borderline,’ Mr Williams told the Australian Financial Review.
‘It depends a lot on how it performs over the next few years whether or not it will ultimately be a survivor.
‘I think you can see the rest of the industry struggling with the same dynamics.’
GEELONG’S mayor is prepared to ask for federal and Victorian government assistance to prop up the local Shell refinery, with an oil company executive saying its future is “borderline”.
Shell says its Geelong refinery is facing challenges, including more competition from new mega-refineries in Asia, after its global downstream director Mark Williams said the operation of the refinery was “questionable” given the challenges.
“It’s borderline,” Mr Williams told the Australian Financial Review.
Mathew Dunckley and Angela MacDonald-Smith
The Chinese economy could be in worse shape than official figures suggest, threatening demand for Australia’s resources at the same time as increasing international competition and rising costs spell trouble for this nation’s fledgling gas boom, says one of Royal Dutch Shell’s top global executives.
Shell global downstream director Mark Williams said the energy giant was experiencing the equivalent of recession-level demand for key products such as diesel at the same time as China, one of the single largest markets, was posting official reports of strong growth.
“Shell Australia has been accused of withholding data showing that high levels of potentially cancer-causing benzene have been released from the oil giant’s Geelong refinery.”Thursday 18 August 2005
By Ewin Hannan
Geelong Grammar in the foreground with the Shell Geelong oil refinery in the background.
Photo: Craig Abraham
Shell Australia has been accused of withholding data showing that high levels of potentially cancer-causing benzene have been released from the oil giant’s Geelong refinery.
Former CSIRO scientist Chris Mardon, who analysed benzene data recorded by Shell’s air-monitoring equipment, claims record levels of benzene emissions came from the refinery, which is near Geelong Grammar and primary schools, over 13 days in April.
SHELL has brought forward the closure of its Clyde refinery in Sydney by up to nine months, cutting about 350 jobs as tough operating conditions plaguing the shrinking sector worsen.
Shell said it would close the 90-year-old refinery on September 30, which is earlier than indicated last year when the company said Clyde would close some time before the middle of next year.
Like most Australian manufacturers, refineries are straining under the weight of a high dollar, high-skilled labour costs and expensive raw materials – in the case of refineries, crude oil.
By John Donovan: 2 June 2012
It appears that the intervention of Royal Dutch Shell Company Secretary Michiel Brandjes, initiating an investigation of allegations we brought to his attention as a result of information given to us by a whistleblower at the Shell Geelong Refinery in Australia, may have resolved the matter.
Shell investigates alleged IP theft at Geelong Refinery
Stirring up a Hornets’ Nest at Shell’s Geelong Refinery
Printed below is the latest information from the insider source.
ROYAL Dutch Shell has reported a $495 million full-year loss on its Australian refining and marketing business after being hit by higher costs, a higher Australian dollar and a $638m writedown of its Geelong refinery.
But the oil major’s petroleum exploration and production division, centred on its stake in the Woodside-operated North West Shelf LNG project in Western Australia, offset the loss with a $US845m profit.
The writedown and earnings results were revealed in the 2011 reports of Shell’s two main Australian subsidiaries, which were filed with the Australian Securities and Investments Commission in recent weeks.
Photograph of Shell’s Geelong refinery in Australia
By John Donovan
Shell investigates alleged IP theft at Geelong Refinery
Alleged IP theft from employee of Shell Geelong Refinery
Stirring up a Hornets’ Nest at Shell’s Geelong Refinery
Hi John,
It was good to see Diana’s friend from the old Mobil refinery reinforce the fact that she is a nice person, as well as being clever.
Our refinery production manager Mr Guy Hackwell has been visiting lunch rooms around the refinery removing copies of the original email, referring to Shells reliability Manager, Mr Rod Mayes , as “a blood sucker who realized the potential and ran off and presented this work to Vice President Downstream Australia, Mr Andrew Smith.”
According to an insider source, the information that appeared on this website regarding alleged Intellectual Property theft has stirred up a hornet’s nest at Shell’s Geelong Refinery. It would also appear that an investigation is under way to find the person responsible for sending it to me, which has the objective of subjecting that person to Disciplinary Action.
By John Donovan
I have permission from the sender, Mr Warwick Williams, to publish an email he sent to me concerning the alleged theft by Shell of intellectual property owned by an employee at Geelong Refinery in Australia, Diana Newman.
: 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
: 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?
: 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”.
: 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.
: 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.
: 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.
: 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!
: 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!
: 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.
: 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.
: 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
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