A BP cleanup crew removing oil from a beach in May 2010 in Port Fourchon, La., after the Deepwater Horizon disaster. Photo Credit: John Moore/Getty Images By BARRY MEIER and CLIFFORD KRAUSS: A version of this article appeared in print on February 24, 2013, on page A17 of the New York edition With a major [...]
Posts under ‘Walter van de Vijver’
Starring Role of Shell CFO Simon Henry in Reserves Scandal
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 [...]
Verdict on Royal Dutch Shell CFO Simon Henry
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 [...]
Desperation led to Shell’s plotting to exploit 9/11 attacks
BUILD UP TO SHELL RESERVES SCANDAL: Comments by leading Shell execs: “…the market will want to know whose head is going to roll for what they will see as blatant deception.”; “this is potential dynamite for management credibility and the share price”; “…how you have to break the detail of this news in September, assuming [...]
9/11 Terror Attack and the Shell Reserves Scandal
By John Donovan On Friday we published an article revealing Shell internal email correspondence, which provided proof that three weeks after the 9/11 terrorist attack on the USA, Shell executives were considering how Shell could exploit the horrific event for commercial reasons. As can be seen from the correspondence, the objective was to “buy us [...]
Simon Henry and the reserves time bomb
Were they aware that Simon Henry was a key player, as Head of Global Investor Relations, in dealing with the reserves data and actually had responsibility to ensure the quality/accuracy of the data before it was disclosed to analysts and investors? As we all know, it turned out that some of the data was not [...]
Candid testimony of Simon Henry about disgraced Shell EP Boss Walter van de Vijver
As can be seen in his testimony, Simon Henry deliberately limited the amount of time that Walter van de Vijver spent with UK and US investors, almost as if there was something to hide? Wonder what current Shell investors will make of that revelation? An insight into how Mr Henry thinks shareholders can be manipulated [...]
Candid testimony of Shell’s Simon Henry about Sir Philip Watts
Q: Do you like Mr. Watts personally? A: It was difficult to like Phil. He was not a guy you go for a beer with. …he was still running with that chip on his shoulder… He was a guy from the wrong side of the tracks. Candid (some might say indiscreet) testimony of Simon Henry [...]
How Shell’s Move To Revamp Culture Ended in Scandal
FROM OUR NOVEMBER 2004 SHELL NEWS ARCHIVE How Shell’s Move To Revamp Culture Ended in Scandal: “The root of the problem, however, goes significantly further back than Sir Philip’s reign, which began in 2001”: “These deeper roots are significant because the company has yet to make a full break with its past. Mr. van der [...]
Watchdog’s bark far worse than its bite
From our November 2005 Shell News Archive The Times: Watchdog’s bark far worse than its bite “In the Shell case, the FSA had plenty of evidence of a conspiracy at the highest level against the interests of shareholders. The company’s own investigation unearthed compelling e-mail evidence, not least former exploration director Walter van de Vijver’s [...]
Shell Seeks to Export U.S. Oil
October 12, 2012 By BEN LEFEBVRE HOUSTON—Royal Dutch Shell RDSA +0.28% PLC said late Thursday it has applied for a permit from the U.S. Department of Commerce to export crude oil in a sign of how a boom in U.S. oil production from shale rock is reshaping the country’s role in the global energy marketplace. The [...]
Shell supertanker steers into deeper waters
FROM OUR SHELL NEWS ARCHIVE SEPT 2004 The Independent: Michael Harrison’s Outlook: Shell supertanker steers into deeper waters “brotherly love has been notable for its complete absence inside the South Bank politburo, where the motto has been stab someone in the back before you are made to walk the plank yourself.”: Judging by the reaction [...]
Retired Shell engineer played central role in reserves scandal
FROM OUR AUGUST 2004 SHELL NEWS ARCHIVE Financial Times: Retired Shell engineer played central role “the company had been engaged in accounting manoeuvres since 1997-98, including a flawed internal audit function”; “Shell had engaged as [group reserves auditor] a retired Shell petroleum engineer – who worked only part time and was provided with limited resources [...]
The Shell Show, a tragicomedy in an unlimited number of parts
FROM OUR AUGUST 2004 SHELL NEWS ARCHIVE The Daily Telegraph: The landslide bringing down Shell grandees The SEC and FSA reports, however, go back to the previous regime, when Sir Mark Moody-Stuart was chairman.”: Even Shell fell for the “group bonding” mumbo-jumbo, and he was videoed stumbling blindfold around head office during one such session, [...]
Shell settles fraud case for $150M
FROM OUR AUGUST 2004 SHELL NEWS ARCHIVE CNN: Shell settles fraud case for $150M Oil company agrees to pay SEC for overstating reserves, also settles market abuse case in Britain. August 24, 2004 NEW YORK (CNN/Money) – Royal Dutch/Shell has agreed to pay about $150 million to settle charges by U.S. and British regulators that [...]
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