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Shell buys Indian renewables firm Sprng Energy for $1.55 billion

Apr 30th, 2022
by John Donovan.
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Shell to acquire Sprng Energy group, one of India’s leading renewable power platforms

Apr 29, 2022

Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), today signed an agreement with Actis Solenergi Limited (Actis) to acquire 100% of Solenergi Power Private Limited for $1.55 billion and with it, the Sprng Energy group of companies.

Sprng Energy supplies solar and wind power to electricity distribution companies in India. Its portfolio consists of 2.9 gigawatts-peak1 (GWp) of assets (2.1 GWp operating and 0.8 GWp contracted) with a further 7.5 GWp of renewable energy projects in the pipeline. read more

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POLICE INSPECTOR DEMANDS INFORMATION FROM SHELL?

Dec 31st, 2021
by John Donovan.
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POLICE INSPECTOR DEMANDS INFORMATION FROM SHELL?

By John Donovan: 31 Dec 2021

I have received emails purportedly sent to me and others by a police inspector from Sama Police Station in Vadodara City, India.

The emails contain serious allegations against Shell.

The emails may be fake or genuine.

The irate police inspector in question, N.H. Brambhatt seems keen to get into contact with Shell. He seems to have reached the conclusion that Shell is frustrating the progress of his enquiries.

Earlier today I sent the following email to Mr Donny Ching, the Legal Director of Royal Dutch Shell Plc (but not for much longer). read more

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Shell to Expand Presence in Asia and Alternative Fuel Market

Sep 21st, 2017
by John Donovan.
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September 20, 2017, 01:35:00 PM EDT By Zacks Equity Research,

Per Reuters, integrated oil and gas company, Royal Dutch Shell plc RDS.Aintends to increase its marketing operations in Asia region. The company’s effort to de-carbonize the energy system was reconfirmed as it targets to attain 20% of its global fuel station sales from electric vehicles recharging and fuels with a lower level of carbon by 2025.

Expanding Asia Operations

The oil major has 43,000 fuel stations in 80 countries and is now trying to reach the fuel markets of China and India, the two most populous countries in the world with high demand for energy. Shell is also eyeing the Indonesian fuel market. The company believes there will be continued growth in the Asian market over the next decade. read more

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SHELL NEWS UPDATE FRIDAY 31 MARCH 2017

Mar 31st, 2017
by John Donovan.
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Shell shuts Bonny Light oil export line to remove theft points: Reuters/Daily Mail

LONDON, March 31 (Reuters) – The Nigerian subsidiary of Royal Dutch Shell Plc said it had shut down the Nembe Creek Trunk Line, which exports Bonny Light crude oil, in order to remove theft points.

Shell plans to double Hazira LNG plant capacity – India head: Reuters/Daily Mail

March 31 (Reuters) – Royal Dutch Shell Plc plans to double the capacity of its liquefied natural gas import facility at Hazira on India’s west coast to 10 million tonnes a year, a top company executive said on Friday.

Shell Opens New Technology Hub in India: RIGZONE

Royal Dutch Shell plc has opened a new major technology hub in Bangalore, India, which can house up to 1,500 workers. read more

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Shell bets big on India with its second LNG terminal

Sep 25th, 2015
by John Donovan.
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Screen Shot 2015-09-25 at 08.10.20Shell expects LNG demand to rise by 5% every year over the next couple of decades while global gas demand is growing at 2%

By: Siddhartha P Saikia | Singapore | September 25, 2015 5:39 AM

Royal Dutch Shell, which set up a 5 million tonne LNG terminal at Hazira in Gujarat nearly a decade back, is targeting to grab a bigger share of the growing demand for imported gas in India. The Hague-based global energy giant is planning to set up a floating LNG facility on the east coast — at Kakinada in Andhra Pradesh.

Recently, Andhra Pradesh Gas Distribution Corporation (APGDC), GDF Suez, Shell and GAIL have signed a memorandum of understanding (MoU) to set up a floating LNG terminal with an initial capacity of 5 mt, which could be doubled at a later stage. “We have been very constructively working on the project (LNG terminal) on the east coast. We really believe in the India gas market,” said Maaten Wetselaar, executive vice present for Shell Integrated Gas in Singapore. read more

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Shell may re-enter the upstream business in India

Jun 8th, 2015
by John Donovan.
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Screen Shot 2015-01-06 at 21.26.38By Sanjeev Choudhary, ET Bureau | 8 Jun, 2015

NEW DELHI: Royal Dutch Shell Plc is bullish about India’s gas market and may re-enter the upstream business in the country if the government offered a stable policy and an open acreage licence to explorers, senior company executives said.

“We would continue to look at upstream opportunities in India,” said Harry Brekelmans, projects & technology director and a member of the top executive committee at Shell. “At the moment, we have not been able to see anything that is attractive .. read more

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Shell to set up global IT centre at Bengaluru

Mar 4th, 2015
by John Donovan.
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Screen Shot 2015-01-06 at 21.26.38New Delhi: Global energy giant Shell on Wednesday announced setting up of a global information technology center at Bengaluru to provide IT support to all its business verticals.

“Shell plans to begin operations at the centre later this year,” the company said in a statement here.

The centre will provide IT services to all of Shell’s businesses upstream oil and gas production, downstream refining and marketing and projects & technology as well as associated support functions. Without giving investment details, the statement said Shell India Markets Pvt Ltd will create the in-house centre, “which is expected to provide employment opportunities for several thousand IT professionals by 2020”. read more

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Royal Dutch Shell Saves $2.5 billion In Transfer-Pricing Case

Nov 20th, 2014
by John Donovan.
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Bidness Etc discusses the ruling by an Indian court in a transfer-pricing case against Shell and its impact on future foreign investment in the country

Published: November 19, 2014 at 12:26 pm EST

By: Micheal Kaufman

The Bombay High Court has ruled in favor of Royal Dutch Shell plc (NYSE:RDS.A) in a high-tax profile case, which could pose a hurdle to the Indian government’s plans on bringing in foreign investment and much-needed revenue.

The ruling was announced on Tuesday, after Indian authorities claimed tax money paid to transfer shares of Shell. The court has not released a written judgment yet.

The judgment can negatively impact India’s image, which might cause leading foreign companies to hesitate to invest in India. Indian Prime Minister Narendra Modi can intervene and reverse the ruling. read more

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Shell in talks to buy stake in southern India LNG project

May 27th, 2014
by John Donovan.
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Extract from a Reuters article published 26 May 2014

May 26 (Reuters) – Global energy major Royal Dutch Shell is in talks with the Andhra Pradesh state government for buying up to 24 percent stake in the planned Kakinada liquefied natural gas project on the east coast, GAIL chairman B.C Tripathi said on Monday.

FULL ARTICLE

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Wake-up call to Shell India from a disgruntled retailer

Dec 30th, 2013
by John Donovan.
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Screen Shot 2013-12-30 at 10.44.02This is to get it to your notice what’s happening in Shell India. One of the worst management I have seen. Shell please wake-up and do save our retailer community in India. Some one please do exit-interviews of the retailers who have left and do justice to people who serve you. In India bribes are being taken and are being paid by the management in name of consultancy fees and incidental charges.

Introduction by John Donovan

Printed below is a comment received.  Given the length and content it seems appropriate to publish it as an article. Full contact information and related email correspondence with Shell has been supplied. The allegations suggest that Shell is continuing to ruthlessly exploit Shell petrol retailers/franchisees as it has done in other countries.

*Many years ago we conducted a series of ethical surveys involving up to 1500 Shell UK retailers and published the findings in whole page announcements in trade magazines such as “Forecourt News”. All of the sealed responses were opened and authenticated by an independent solicitor who supplied an affidavit testifying to the findings. If the allegations below have foundation, it appears that not much has changed. read more

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ONGC, Shell set to split $6bn gas buy

Jun 1st, 2013
by John Donovan.
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, TNN | May 31, 2013, 06.16AM IST

MUMBAI: Oil and Natural Gas Corporation (ONGC) and Royal Dutch Shell will equally split the prized 20% stake acquisition in Rovuma basin gas block in Mozambique, after the sellers decided to court individual buyers due to difference in priorities.

The stake on offer is valued between $5-6 billion. Indian conglomerate Videocon Industries, which is selling 10% shares, wants to maximize the value. US based Anadarko Petroleum, the operator of the block, is offloading an equal stake but wants a pedigree global partner with better track record and execution skills.

ONGC is the frontrunner to pick up the Videocon stake while Royal Dutch Shell might end up buying Anadarko shares. The Videocon stake sale to ONGC may be announced next month. Anadarko sale to Shell is likely to take more time. read more

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Shell challenges $1 billion tax demand in Bombay HC

Apr 26th, 2013
by John Donovan.
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Thursday, April 25, 2013

Mumbai: Global oil major Royal Dutch Shell Thursday said it has moved the Bombay High Court here, challenging the USD 1 billion demand made by the tax authorities on a four-year-old equity infusion.

“Shell confirms that it has filed a writ petition in the Bombay High Court challenging the draft tax order,” the Anglo- Dutch oil major said in a statement. The company “will continue to evaluate all options for redress available to resolve this tax dispute”, it said. read more

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Indian arm of Royal Dutch Shell accused of tax evasion

Apr 25th, 2013
by John Donovan.
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The Indian arm of Royal Dutch Shell Plc, which has been accused by the income tax authorities of underpricing an intra-group share transfer by Rs15,000 crore and consequently evading taxes, has filed a writ petition in the Bombay high court challenging the income tax order.

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Thu, Apr 25 2013. 05 57 PM IST

Mumbai/ New Delhi: The Indian arm of Royal Dutch Shell Plc, which has been accused by the income tax authorities of underpricing an intra-group share transfer by Rs15,000 crore and consequently evading taxes, has filed a writ petition in the Bombay high court challenging the income tax order.

The petition filed on Wednesday will come up for hearing on 3 May.

Mint reported on 3 February that following the notice, which is one of the biggest transfer pricing orders by the income tax department, Shell India Pvt. Ltd plans to challenge the assessment.
“Shell confirms that it has filed a writ petition in the Bombay high court challenging the draft tax order. Shell has always maintained that it will continue to evaluate all options for redress available to resolve this tax dispute,” the company in an emailed statement. read more

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Cameron may fly in to Shell India tax row

Feb 15th, 2013
by John Donovan.
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By Andrew Callus: LONDON | Fri Feb 15, 2013 3:18pm GMT

(Reuters) – Oil company Royal Dutch/Shell has asked the British government to raise the subject of a tax dispute with India during Prime Minister David Cameron’s visit there next week, according to a source familiar with the request.

The dispute blew up earlier this month when tax authorities revalued by $2.7 billion a 2009 transaction by Shell with a wholly-owned subsidiary, and claimed a tax payment was due.

It comes as India seeks to balance its need to shore up its finances by raising tax receipts with its desire to encourage foreign investment. read more

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Shell fears it could be driven out of the UK over North Sea taxes

Feb 3rd, 2012
by John Donovan.
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Shell warned the government not to tax it out of the UK, as it sketched out ambitious growth plans alongside an underwhelming set of results.

Chief executive Peter Voser said the Anglo-Dutch oil company was aiming to pump 4bn barrels of oil per day (bpd) by 2017, compared to 3.2bn today.

Net spending will rise from £15bn to £19bn this year as it chases its goal, although most of the difference will come from fewer asset sales, with actual investment set to rise by a more modest £1bn to £21bn.
 read more

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Sir Bill’s treatment at Cairn will make every board quake

Jan 25th, 2012
by John Donovan.
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The giant oil field sold for a song by Shell… it sold its 50% share to Cairn for $7.5 million, now worth billions…

James Ashton 24 Jan 2012

The momentum gained by the Government’s war on executive pay meant it was bound to claim some victims. The only surprise is that Sir Bill Gammell has become its first. As the chief executive of Cairn Energy, he was a stock market darling. The success he enjoyed after buying an unwanted Indian exploration site from Royal Dutch Shell has passed into oil industry folklore.

Cairn, which now has a market value of £4 billion, can thank the £4.5 million acquisition of an Indian exploration site for its good fortune. Sir Bill, a former Scottish rugby international, saw potential there after the big boys had given up trying. A similar spirit has given it the confidence to hunt for oil in far-flung corners of the world such as Greenland. read more

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