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Nigeria: Shell Rules Out Divestment in Nigeria, Others This Year

May 2nd, 2015
by John Donovan.
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Simon Henry, CFO, Royal Dutch Shell Plc

Simon Henry, CFO, Royal Dutch Shell Plc

Article by Daniel Adugbo published 1 May 2015 by AllAfrica.com

Shell Rules Out Divestment in Nigeria, Others This Year

Royal Dutch Shell said yesterday it had reduced its expected 2015 capital expenditure (capex) to $33 billion from $35 billion as the company continues to adjust its business to the lower oil-price.

Releasing its first-quarter results yesterday, Shell’s Chief Financial Officer (CFO) Simon Henry said the capex this year would be $33 billion, or “potentially less,” a reduction of at least $2 billion compared with guidance given by Shell three months ago.

Henry said that it had highlighted a number of projects where it could reduce its financial exposure, including the Majnoon project in Iraq and Carmon Creek in Canada. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

CFO Simon Henry: Just how many lives has this Shell fat cat got?

Jan 25th, 2014
by John Donovan.
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Simon Henry was CFO when the ship was set on its disastrous course of over-promise and under-delivery, beset by project delays and cost overruns, resulting in the recent profits warning and the dramatic advice just issued by Zacks Investment Research that Royal Dutch Shell Plc is “a risky bet that ordinary investors should exit.” He has had a hand on the helm throughout the long voyage, during the Sakhalin2 debacle, the Corrib Gas Corruption scandal and more recently, Shell’s Arctic ambitions hitting the rocks. As I have previously pointed out, he also had a starring role in the reserves scandal and managed to evade the flak on that occasion as well. Just how many lives has this Shell fat cat got?

By John Donovan

The role of RDS Chief Financial Officer, Simon Henry, in the instability that has overtaken Shell, thus far seems to have largely escaped scrutiny and blame?

He is the most senior remaining Royal Dutch Shell executive spanning the tenure of the last three top executives at Shell, Sir Philip Watts (dishonest bullying egomaniac), Jeroen van der Veer (dishonest and out of his depth) and Peter Voser (incompetent and ill-advised).

Simon Henry was CFO when the ship was set on its disastrous course of over-promise and under-delivery, bedeviled by project delays and cost overruns, resulting in the recent profits warning and the dramatic advice just issued by Zacks Investment Research that Royal Dutch Shell Plc is “a risky bet that ordinary investors should exit.” read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

LNG deal ushers in tighter Shell spending regime

Jan 3rd, 2014
by John Donovan.
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Screen Shot 2014-01-03 at 14.32.05In a separate announcement on Thursday, Shell revealed that Voser, who surprised investors last year with news of his early retirement, will be repatriated to his native Switzerland, where he will work for the local subsidiary on his full group chief executive pay and with a full pro-rata bonus.

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Thu Jan 2, 2014 11:02am EST

* Outgoing CEO Voser to work in Switzerland on full pay

* Deal accounting flatters spending for new boss’s first year

* New CEO faces Q4 results Jan 30, investor day March 13

* Shell has $55 bln to spend in next 2 years under plan

By Andrew Callus

LONDON, Jan 2 (Reuters) – Royal Dutch Shell’s new boss Ben van Beurden will be able to point to a clear downward trend in spending this year, thanks in part to the way the oil company is accounting for an acquisition completed this week. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell shock as new boss is appointed

Jul 11th, 2013
by John Donovan.
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ROYAL DUTCH SHELL sprang another surprise on the City yesterday by naming its head of refining Ben van Beurden as its new chief executive to succeed Peter Voser next January.

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Published: Wed, July 10, 2013

Dutchman Van Beurden, 55, who has been with the Anglo-Dutch oil giant for 30 years but only appointed to the board in January as boss of its downstream operations, had not been touted as a likely contender to replace Voser, whose decision to stand down after less than five years in the top job had stunned investors.

Analysts had focused on chief financial officer Simon Henry and other divisional heads including Marvin Odum and Andy Brown as potential successors, although Shell also reviewed outside candidates. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell says hunt for new CEO is underway

May 21st, 2013
by John Donovan.
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By Andrew Callus

THE HAGUE | Tue May 21, 2013 9:35am EDT

(Reuters) – The hunt for Royal Dutch Shell’s (RDSa.L) next chief executive is underway, its chairman said on Tuesday, after CEO Peter Voser made what could be his last appearance at the oil group’s annual shareholder meeting.

Voser announced his surprise decision three weeks ago to step down in the first half of 2014, before his 56th birthday, and less than five years into the role.

“The process has started,” Shell chairman Jorma Ollila told Reuters after the meeting when asked about the succession plan. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

THE RACE FOR VOSERS JOB

May 3rd, 2013
by John Donovan.
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Screen Shot 2013-05-03 at 09.48.24With regard to your most obvious rivals, Simon Henry seems to be a very intelligent, competent executive, but comes with the baggage of his starring role in the reserves scandal. I published our verdict. Based on my strange experience of communicating with Marvin Odum via RDS Plc Company Secretary Michiel Brandjes, I reached the conclusion that Mr Odum is a creep. As the New York Times has correctly speculated, he carries “the stigma of the Alaska debacle.”

Email to Royal Dutch Shell Upstream International Director Andrew Brown

From: John Donovan <[email protected]>
Subject: THE RACE FOR VOSERS JOB
Date: 3 May 2013 09:54:33 GMT+01:00
To: [email protected]

Dear Mr Brown

As you may recall, we published a leaked email from you minutes after you sent it, the content of which, with my normal lack of tact, I described as drivel.

According to press reports you are a candidate in the race for Peter Vosers job, along with Simon Henry and Marvin Odum.

Perhaps I have read too many gossip columns, but I find the carefully constructed formulation of the resignation quote attributed to Mr Voser rather odd. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Briton tipped to run Shell for first time in a decade as Voser steps down into retirement

May 3rd, 2013
by John Donovan.
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Chief financial officer Simon Henry was made the front-runner by bookmaker Paddy Power, despite saying it would be ‘inappropriate’ to discuss his candidacy. The Anglo-Dutch firm has not had a British boss since Sir Philip Watts left in disgrace in 2004 after Shell overstated its oil reserves.

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Screen Shot 2013-05-03 at 08.17.32By Rob Davies: PUBLISHED: 22:14, 2 May 2013 | UPDATED: 22:30, 2 May 2013

Shell boss Peter Voser has announced his retirement at 55, sparking a succession race that could put a Briton in charge of Europe’s largest oil firm for the first time in nearly a decade.

Chief financial officer Simon Henry was made the front-runner by bookmaker Paddy Power, despite saying it would be ‘inappropriate’ to discuss his candidacy.

Centrica chief Sam Laidlaw is also in the frame, alongside a host of Shell ‘lifers’ in various executive positions.

The Anglo-Dutch firm has not had a British boss since Sir Philip Watts left in disgrace in 2004 after Shell overstated its oil reserves. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell rapped by Norway’s offshore safety watchdog

Feb 18th, 2013
by John Donovan.
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By John DonovanSeems from an article just published by upstream.com that little has changed in Shell’s notorious “Touch F*** All” approach to protecting the lives of its offshore workers. Apparently the corner-cutting bean counter duo now running the show – Peter Voser, and his sidekick Simon Henry – are following the same path. They do not give a F***.  Shell’s retired HSE Group Auditor Bill Campbell will probably not be the least surprised by Shell managements continued mendacity in such matters in line with its policy of putting production and profits before the safety of its employees. This is the same management responsible for Shell’s Arctic debacle, which had many hallmarks of a farce, but without being funny. Screen Shot 2013-02-18 at 14.26.26

“…emergency procedures in the event of a structural incident were lacking and the agency also found that an analysis stating that “the constructions can resist all forms of explosion” was “misleading and gave an incorrect risk picture”

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Steve Marshall: 18 February 2013 13:09 GMT

Shell has been pulled up by Norway’s safety watchdog for failings related to the integrity of load-bearing structures on its Draugen field platform.

The Petroleum Safety Authority (PSA) reported that it has identified a number of regulatory non-conformities after carrying out a recent audit of measures implemented by the Anglo-Dutch operator to ensure the technical integrity of the concrete-based facility in the Norwegian Sea.

The inspection was intended to determine how Shell prevents structural failure, with a focus on barrier management in relation to the integrity of load-bearing structures. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Starring Role of Shell CFO Simon Henry in Reserves Scandal

Feb 11th, 2013
by John Donovan.
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By John Donovan

On 13 March 2009, the FT published an article about Simon Henry, who was about to become Chief Financial Officer of Royal Dutch Shell Plc. It said that he had survived the Shell reserves misreporting scandal with his reputation intact. On the basis of irrefutable Shell internal evidence, we take issue with that conclusion.

We have today published evidence confirming his starring role in the scandal. It includes an email sent directly to Mr Henry by the then Chief Executive of Shell Exploration & Production, Mr Walter van de Vijver. The content removes any doubt that Simon Henry knew two years before the scandal broke that Shell had booked reserves it should not have booked. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Verdict on Royal Dutch Shell CFO Simon Henry

Feb 11th, 2013
by John Donovan.
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Shell internal email correspondence irrefutably proves that Simon Henry was aware in March 2002 that “reserves bookings were made that should not have been made”. Walter van de Vijver, the “sick and tired” Chief Executive of Shell EP, gave the information directly to him. As can be seen in the email, Walter van de Vijver aggressively accused Mr Henry of setting targets that were near impossible to achieve. The question arises of whether Mr Henry was a culprit, an accomplice, or an innocent bystander.

By John Donovan

INTRODUCTION

We have published a series of articles about the starring role of Simon Henry in the Royal Dutch Shell reserves scandal.

Shell internal email correspondence irrefutably proves that Simon Henry was aware in March 2002 that “reserves bookings were made that should not have been made”. Walter van de Vijver, the “sick and tired” Chief Executive of Shell EP, gave the information directly to him. Walter van de Vijver accused Mr Henry of setting targets that were near impossible to achieve. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Simon Henry feared Shell would ‘score an own goal’ on reserves

Jan 28th, 2013
by John Donovan.
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Simon Henry was at the heart of what was going on, conveying reserves data to the market while dealing with colleagues engaged in the fraud. We have to assume that none of them confided in him and that he was an innocent dupe. He was asking questions about accuracy of the reserves information, but some investors may feel that he should have been rather more inquisitive given the gathering warning signals of which he was acutely aware, that were already reaching the markets. Perhaps he did know, but was in a state of denial about what was going on? That seems to have been the case even after news of the reserves scandal made headlines around the world.

Shell was given advance sight of this article and the opportunity to point out any factual inaccuracy.

By John Donovan

In March 2002, Simon Henry, the current Chief Financial Officer of Royal Dutch Shell Plc was head of Investor Relations for the Royal Dutch Shell Group.

Mr Henry was responsible for gathering reserves data and ensuring the quality/accuracy of the data before it was disclosed to analysts and investors. It turned out that some of the data was not only inaccurate, but also fraudulent. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Why Shell does not sue the Donovans

Jan 3rd, 2013
by John Donovan.
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By John Donovan

I know that many people must be baffled why Shell does not take legal action against us bearing in mind that some articles authored by us may appear rather forthright.  The reason why we are not buried in Shell injunctions is because of meticulous research to ensure we can substantiate in court everything we publish. In other words, we have the documentary evidence to prove that what we say is true.  This thorough research will be evident in a pending article about Royal Dutch Shell CFO Simon Henry. We will put detailed information into the public domain about his involvement in the Shell reserves scandal. The third in our series of articles about the scandal mired years of Chris Finlayson at Shell is also in the pipeline. One can of worms after another. Not the ravings of disgruntled lunatics, but provable unpalatable fact.
 read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell bullish on China shale gas

Apr 26th, 2012
by John Donovan.
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Thu Apr 26, 2012 7:40am EDT

* Shale gas seen economic in China

* Govt policy, not geology more likely to determine pace

By Tom Bergin

LONDON, April 26 (Reuters) – Royal Dutch Shell gave a bullish outlook for the development of shale gas in China on Thursday, saying the Anglo-Dutch oil major’s drilling there suggested vast resources could be unlocked at a relatively low cost.

Chief Financial Officer Simon Henry said Shell had not yet determined the cost of producing shale gas in China but that it would probably be within the $2 to $6 per million British thermal units (Btu) seen in North America, a level that would be competitive with alternative gas sources. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell bosses cash in with shares plan sharing £54.5m between 19 senior staff

Mar 16th, 2012
by John Donovan.
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By Rob Davies

PUBLISHED: 22:18, 15 March 2012 | UPDATED: 22:18, 15 March 2012

Shell’s top brass doubled their money in 2011 as the firm’s performance triggered generous share awards under an incentive scheme that has since been scrapped.

Nineteen senior staff shared £54.5m compared to £26.9m last year, while they also picked up pension benefits worth a further £5.9m.

Chief executive Peter Voser pocketed a pay, bonus and shares package worth £10.12m, while director Malcolm Brinded earned £9.88m and finance director Simon Henry had to make do with £3.25m. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

PIGS AT THE TROUGH: PETER, MALCOLM AND SIMON

Mar 15th, 2012
by John Donovan.
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This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell management see pay double to $86m

Mar 15th, 2012
by John Donovan.
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Directors and senior management at Anglo/Dutch oil giant Royal Dutch Shell saw their total pay ore than double in 2011 to $85.7m (£54.7m).

By , Assistant City Editor: 11:44AM GMT 15 Mar 2012

The company put the jump down to the “high performance gearing” in its remuneration package. Total pay jumped from $42.3m to $85.7m. On top of this senior management and directors saw their combined pension pots swell by $9.2m. According to the annual report the cash was shared between 19 individuals.

The company’s three top directors, chief executive Peter Voser, executive director Malcolm Brinded and finance director Simon Henry took home a combined $9.5m, slightly less than the previous year. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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