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Posts from ‘July, 2009’

High time to hit the City cheats very hard

The biggest FSA fine ever was a £17 million penalty meted out to Shell for misleading its own shareholders. Since no Shell manager was successfully pursued, the consequence was that the shareholders, the victims of the scandal, ended up indirectly paying the fine.

Fines to double or triple as FSA gets tough with City wrongdoers

The biggest fine was £17 million paid by Shell in 2004 after it misled shareholders about the size of its oil and gas reserves.

Jordan seeks oil riches from shale deposits

In May, Royal Dutch Shell signed a deal to explore and possibly eventually exploit Jordan’s deep oil shale deposits, which are among the world’s largest.

Shell Downgraded by HSBC on Refining, Investment Plan

July 6 (Bloomberg) — Royal Dutch Shell Plc, Europe’s largest oil company, was downgraded by HSBC Holdings Plc on costs for unconventional crude projects such as oil sands in Canada and possible weak refining margins.

Shell turns the thumbscrews on contractors and ALL contractor labour suppliers

By John Donovan The alarm bells signaling Shell’s intent to act ruthlessly towards contractors have been ringing for several months. It seems that the thumbscrews are also being applied to ALL contractor labour suppliers. News of Shell’s plans to intensify cost-cutting in reaction to the ressession and falling oil prices was contained in a leaked Shell internal email [...]

Crude Oil Falls on Dollar Advance, Speculation of Supply Gains

MEND said yesterday it attacked an oil facility run by Royal Dutch Shell Plc in the country’s southern region.

A New Chief at Shell, and a Rocky Inheritance

GREEN INC. By TOM ZELLER Jr. Published: July 5, 2009 NEW YORK — Even as Jeroen van der Veer was preparing to pass the baton to Peter Voser, who took over as chief executive of the oil giant Royal Dutch Shell last Wednesday, the contentious legacy of the company’s activity in Nigeria was nipping at [...]

Shell upgrades Qatar status to that of ‘region’

Gulf Times Brown: Shell is investing more in Qatar than in any other country Latest Update: Sunday5/7/2009July, 2009, 09:48 PM Doha Time By Pratap John Chief Business Reporter Shell has elevated Qatar to the status of a region in its new corporate structure. Qatar Shell now ranks alongside Europe, Africa, the rest of the Middle [...]

Shell deal with Russia looks likely

Lauren Mills, Financial Mail 5 July 2009, 11:34am move would set the ball rolling for Shell to firm up details of its potential involvement in developing the deep-water fields. Jeroen van der Veer, who stepped down as Shell’s chief executive last Wednesday, said: ‘As far as we know, the situation regarding licensing will be resolved in the [...]

Boat sinking claim denied

The Sunday Times July 5, 2009   Mark Tighe The head of the security firm employed by Shell at Glengad beach has dismissed allegations by two prominent protesters that his staff were involved in an assault or sank a boat. Jim Farrell, a director of IRMS security, said he could not believe claims made by [...]

Focus: D-Day: the Mayo landing

Some hardline Shell to Sea protesters are preparing for a final conflict over the Mayo gas pipeline

The Scandinavian Mafia is taking over

View from the Top – Sir Martin Sorrell, chief executive of WPP By Richard Milne Published: July 3 2009 03:00 | Last updated: July 3 2009 03:00 We’ve seen a new chairman at BP, somebody who’s not British . . . The Scandinavian Mafia is taking over. It’s extraordinary. You’ve got Shell, you’ve got Unilever, [...]

Shell Disputes Amnesty Report on Nigeria

THE NEW YORK TIMES July 2nd, 2009 By JAD MOUAWAD As violence in Nigeria’s oil-rich Niger Delta escalates, Amnesty International released a new report this week condemning oil companies for wide-scale environmental damages and abuse on impoverished communities along the delta. But Royal Dutch Shell, the Anglo-Dutch oil giant that created the Nigerian oil industry, [...]

Nigeria oil company rejects damning Amnesty report

A Shell spokesman said the company shares Amnesty’s concern for the people in the Niger Delta but disputes the group’s assessment of its corporate accountability.

Shell’s Sinister Relationship with Nigerian Militants

A report – Shell’s Big Dirty Secret – issued on 28 June 2009 by green organisations including Friends of the Earth, reveals that Shell executives continued to approve gas flaring in Nigeria for financial reasons, despite knowing of the consequential serious environmental and health dangers. It also exposes Shell’s machinations in respect of climate change [...]