Posts under ‘Royal Dutch Shell Plc’

  Royal Dutch Shell lobbied against proposed European rules designed to clamp down on commodity market abuse, arguing they would raise costs for consumers and increase market volatility. Shell argued strongly against elements of EC reforms to “strengthen the fight against market abuse across commodity and related derivative markets”.   By Emily Gosden: 10:00PM BST [...]

The Sun newspaper alleges Shell boss Jeroen van der Veer secretly met Lord Browne of BP twice a year to discuss oil prices. Perfectly matched pair to engage in some jiggery-pokery. By John Donovan The Sun newspaper alleges Shell boss Jeroen van der Veer secretly met Lord Browne of BP twice a year to discuss [...]

Oil markets fall under the suspicion of price-fixing on a global scale May 18th 2013 |From the print edition IT IS a lesson of the past five years that benchmarks in unregulated markets can fall victim to the incentives they create. Subprime mortgages bundled into securities often won high scores from ratings agencies that stood [...]

Kevin McCoy, USA TODAY4:43 p.m. EDT May 17, 2013 U.S. public concern over a European probe into possible oil price manipulation escalated Friday as the head of the Senate Committee on Energy and Natural Resources urged the Justice Department to join the investigation. The request from Sen. Ron Wyden, D-Ore., came after European Union investigators [...]

  Published: Friday, 17 May 2013 | 3:54 AM ET European anti-trust investigators searched the offices of price agency Platts and at least one major oil company for a third day on Thursday, hunting for evidence of possible price manipulation on oil markets, witnesses said. Authorities raided the London bureau of Platts in Canary Wharf [...]

By Maher Chmaytelli and Nayla Razzouk: May 16, 2013 Royal Dutch Shell Plc (RDSA) will start producing crude at Iraq’s Majnoon oil field as early as next month and plans to increase energy investments in Saudi Arabia, its regional vice president said. Output from Majnoon, one of Iraq’s largest oil fields, will start “around mid-year” [...]

UK fraud authorities are “urgently reviewing” whether to launch an investigation into companies that may have rigged the oil market and driven up petrol costs for millions of drivers. By Rowena Mason and Christopher Hope: 7:06PM BST 16 May 2013 The Serious Fraud Office said it is considering an inquiry, after European Commission officials raided [...]

FINANCIAL TIMES By Guy Chazan: May 15, 2013 Big Oil is braced for a big backlash, as the industry faces what could be its own Libor moment. “…the allegations sparked a political firestorm… FULL ARTICLE

By Robert Tuttle – May 16, 2013 5:00 AM GMT+0100 Royal Dutch Shell Plc (RDSA) may export U.S. natural gas in liquid form, convert it into chemicals or build a gas-to-liquids plant to produce fuel, said the company’s country chairman for Dubai and the northern emirates. Shell is considering the possibilities, and “it is too [...]

Oil price fixers should face prison, says Cameron: ‘Rigging’ might have cost every household £2,000  Oil giants Shell and BP accused of fixing prices for more than a decade. PM said allegations ‘hugely concerning’ and threatens to prosecute bosses. Experts believe scandal could have cost consumers thousands at the pump By Rob Davies and Jason [...]

15 May 2013 Last updated at 13:54 David Cameron is extremely concerned by claims of price fixing by major oil companies, Downing Street has said. The prime minister’s spokesman said it was “deeply worrying” if prices have been driven up for consumers. Oil giants including BP and Shell are facing claims they have been fixing [...]

SELECTION OF SHELL RELATED ARTICLE LINKS KINDLY SUPPLIED BY A REGULAR CONTRIBUTOR IEA forecasts US to account for a third of new oil supplies: Financial Times-The outlook will influence businesses as diverse as major oil companies, including ExxonMobil and Royal Dutch Shell, big commodities traders … Oxford University won’t take funding from tobacco companies. But …: The Guardian-… on research at Manchester University partly to [...]

With Royal Dutch Shell, price fixing is not a matter of conjecture, but normal operating procedure. Its in the company DNA. Shell has a disgraceful history of price fixing/cartel activity stretching back over a century, including a cartel operated with its Nazi partner, I.G. Farben, found guilty of war crimes. Shell’s history of market manipulation, [...]

The London offices of BP and Shell have been raided by European regulators investigating allegations they have “colluded” to rig oil prices for more than a decade. European commission carries out ‘unannounced inspections’ to investigate claims oilcompanies colluded to manipulate prices Rupert Neate and Terry Macalister guardian.co.uk, Tuesday 14 May 2013 19.29 BST The London [...]

BP and Royal Dutch Shell saw their offices raided today as the European Commission launched an investigation into oil price fixing. The Commission said it is concerned there has been collusion aimed at manipulating the prices of not only oil, but also petrol and biofuels.  A bogus market? By This Is Money Reporter PUBLISHED: 16:58, 14 [...]