Russia, a major crude producer but not a member of Opec, has considered government budget cuts in the wake of the falling crude price, while future production levels could be endangered because oil companies have cut spending on exploration and development. Shell, for instance, has postponed spending on some high-cost tar sands projects in Canada.
December, 2008:
Opec humbled as price of crude tumbles to $39
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website,
johndonovan.website, and shellnews.net,
are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell victim of Madoff Ponzi fraud
Fresh details of the human cost of the apparent Ponzi scheme, in which capital from new investors was used to pay interest to existing investors, also began to emerge yesterday. The pension fund operated by the Netherlands branch of Royal Dutch Shell said that it had a $45 million exposure to the alleged fraud. The fund, which manages the retirement savings of thousands of Shell workers, is in deficit.
Petrobras, Shell Win Onshore Blocks in Brazil Auction
Dec. 18 (Bloomberg) -- Petroleo Brasileiro SA, Royal Dutch Shell Plc and Galp Energia SGPS SA were among the biggest winners at Brazils 10th-annual oil-rights auction today.
Shell Expands LNG Import Capacity in India
Dec. 18 (Bloomberg) -- Petronet LNG Ltd. and Royal Dutch Shell Plc are expanding liquefied natural gas import capacity in India even as the global recession cuts demand and prices of the fuel decline.
Venezuela to Cut Chevron, BP, Shell Output for OPEC
Venezuela, a founding member of the Organization of Petroleum Exporting Countries, will cut output at joint ventures with Chevron Corp., BP Plc and Royal Dutch Shell Plc to help restrain oil supply and bolster prices.
Brazil to Auction Oil Blocks as Offshore Rules Face Revisions
Almost 50 companies have qualified to take part in the two- day auction. Seventeen international companies include U.S.-based Exxon Mobil Corp. and Hess Corp., Royal Dutch Shell Plc, the U.K.s BP Plc, and Galp Energia SGPS SA of Portugal. The 30 participating Brazilian companies include Petroleo Brasileiro SA, Brazils state-controlled oil company, and OGX Petroleo e Gas Participacoes SA.
Sakhalin Energy CEO to keep post in 2009 – Gazprom
A contract with the chief executive of Sakhalin Energy, the operator of the Sakhalin II oil and gas project off Russia's Pacific Coast, has been extended for 2009, a Gazprom executive said Thursday.
Survey: Shell most women-friendly employer, but government best
Women who are career-minded should only seek employment with Royal Dutch Shell...
Madoff: The Pain Runs Deep
There are plenty of corporate victims in the alleged fraud, including HSBC Holdings (HBC), Banco Santander (STD), BNP Paribas (BNPP.PA), Royal Bank of Scotland Group (RBS), and the Dutch pension fund of Royal Dutch Shell (RDSA).
AN OPEN LETTER TO ALL NEW ZEALANDERS FROM SHELL NEW ZEALAND LIMITED
18 December 2008
ANOPENLETTERTOALLNEWZEALANDERS FROMSHELLNEWZEALANDLIMITED
InMay2006,ShellNewZealandintroducedFuelEconomyFormulatoShellservicestationsthroughoutthe country.Shellhasmorethan100yearsofexperiencedevelopingthetechnologyandservicesthatmakeita leadingproviderofinnovativenewfuelstoday,includingtheFuelEconomyFormula.
Shellis justly proudofitsachievementindesigninganddevelopingtheFuelEconomyFormula.Whenthe fuelwasintroduced,ShellcommencedanadvertisingcampaignthatstatedFuelEconomyFormula was “designedtotokeyoufurther”.
Shell OAPs are latest victims of disgraced billionaire Madoff
Pensioners from oil giant Shell have emerged as the latest victims of disgraced financier Bernard Madoff.
Dutch Shell Pension Fund asset value slumps from $27.13 bn to $11.6 bn in just 11 months
Other companies to have been hit include oil major Royal Dutch Shell PLC, which said last week that its Dutch pension fund had slumped from a 180% funding position to just 85% in the past eleven months. The Dutch fund had assets of 19.2 billion ($27.13 billion) at the end of December last year, but said in a statement on Friday that this figure has tumbled 40% since then to about 11.6 billion.
Madoff fraud victims include Royal Dutch Shell, the energy group
FT: Royal Dutch Shell, the energy group, revealed that its pension fund was exposed to Mr Madoff.
Madoff house arrest ordered as European banks and Royal Dutch Shell reel
In Europe, the Dutch pension fund of Royal Dutch Shell said it had a $45 million exposure.
UK investor confidence hit by fraud allegations: Royal Dutch Shell admits $45 million exposure
The pension fund operated by the Netherlands branch of Royal Dutch Shell said that it had a $45 million exposure to the alleged fraud. The fund, which manages the retirement savings of thousands of Shell workers, is in deficit.
Shell fights Commerce Commission action
Petrol company Shell has revealed it is facing Commerce Commission action under the Fair Trading Act over a product the company said improves fuel economy.
Global economic gloom outweighs OPEC and Fed cuts
Adding to the sense of financial mayhem was more fallout from the alleged $50 billion (32 billion pounds) fraud by U.S. financier Bernard Madoff. As he was put under house arrest, another European bank, BNP Paribas, posted losses connected to the scandal, sending European stocks lower. The Dutch pension fund of Royal Dutch Shell Plc said it had $45 million exposure...
Opec agrees record oil output cut
The oil producers' cartel Opec has agreed to make a record cut in output, slashing 2.2 million barrels per day (bpd) from its current supply.
Shell Least Among Super-Majors
Royal Dutch Shell, Plc (RDS.A) does not compare favorably with its peer group in terms of upstream growth prospects, returns, and costs. The group also remains exposed to production problems, continued instability in Nigeria, and political interference in Russia.
Oil giant’s fuel ads misleading says watchdog
Shell's Fuel Economy Formula, a fuel additive it claims gives better economy than untreated fuel, went on sale in 2006. Its advertising campaign said it was "designed to take you further". But after a 2 -year investigation, the commission has decided to charge Shell with breaches of the Fair Trading Act. It says the advertisements were misleading.
Madoff ‘fraud’ reaches Shell pension fund
Shell, the Dutch oil giant, has emerged as the latest victim of the $50 billion (£32.23 million) fraud allegedly perpetrated by Wall Street trader Bernard Madoff, who is set to appear in court later today to meet the conditions of his bail.
New twists in Corrib route
Shell consultants, RPS, said yesterday that a revised application will now seek minor realignments to part of the proposed route for the Corrib onshore pipeline, in order to avoid more sensitive habitat, including bog pools, in the Rossport commonage, identified during recent surveys. However, spokesman for community group, Pobal Chill Chomáin, John Monaghan, questioned how such surveys had been undertaken since there was a District Court order preventing Shell from carrying out such invasive works in the commonage.
Big Drilling Issues Await Salazar
The Colorado senator has also been in favor of trying to force oil companies such as ChevronCorp., ConocoPhillips and Royal Dutch Shell PLC to renegotiate Gulf of Mexico leases signed in 1998-99 that omitted royalty-price thresholds that government auditors say have cost the U.S. billions in uncollected revenue.
OPEC Closes In on Making Biggest Cuts in Decades
ORAN, Algeria -- Saudi Arabia opened the door for OPEC's most dramatic output reduction since the 1970s, calling for the group to slash world oil supplies by at least another two million barrels a day to keep abreast of faltering demand.
Shell pension fund may lose 45m via Madoff
Shell pension fund may lose 45m via Madoff
Wednesday 17 December 2008
Royal Dutch Shell announced on Wednesday afternoon that its pension fund may have lost $45m from its indirect involvement in the massive securities fraud allegedly perpetrated by American trader Bernard Madoff.
‘The investment will do no material damage to the financial position, even if the whole amount has to be written off,’ the company said in its statement.
© DutchNews.nl
Dutch Shell pension fund has $45 mln exposure to Madoff
AMSTERDAM, Dec 17 (Reuters) - The Dutch pension fund of Anglo-Dutch oil giant Royal Dutch Shell said on Wednesday it has a $45 million exposure to the alleged $50 billion fraud by prominent Wall Street trader Bernard Madoff.
Shell confirms Dutch Shell Pension Fund may be impacted by Madoff fraud
SHELL PENSION FUND EXCEPTIONAL STATEMENT
WEDNESDAY 17 DECEMBER 2008
In principle the Pension Fund does not comment on specific strategies or investments. In view of the seriousness of the spurious allegations made by Mr. Kaland on NOVA television last night, exceptionally, the Pension Fund wishes to publish this correction statement.
The Dutch Shell Pension Fund has made some indirect investments that may be affected by the Madoff affair. The originally invested amounts, in total some USD 45 million, are many times lower than the amount of EUR 1 billion that Mr. Kraland repeatedly mentions. Even when these investments would have to be written off in their entirety, the impact thereof on the financial position and the funding status of the Pension Fund would be very limited.
Iraq signs $3bn power deal with GE
Royal Dutch Shell, Europes biggest oil company, has signed a deal with Iraq to collect that associated gas and make productive use of it, including for power generation, but the agreement has been politically controversial.
Oil glut leaves 50m barrels in supertankers
Oil companies and traders are storing at least 50m barrels of oil in supertankers - the equivalent of France's oil imports for a month - in a clear sign of supply outstripping demand as the global economy slows.
Sour gas leak prompts rejection of Shell expansion plans
Alberta's energy regulator has denied an application by Shell Canada to drill a new well near Beaver Mines, citing a sour gas leak in the area that forced 10 families to flee their homes
Oil traders dancing to the contango
Bruce Kahler, a ship broker at Lone Star, R.S. Platou, told Bloomberg News that Royal Dutch Shell is paying $86,000 a day for two to three months for the Leo Glory, a 2-million-barrel supertanker in the Gulf of Mexico.
Shell Arranges Fuel Supplies to Replace Shut Sydney Production
Dec. 17 (Bloomberg) -- Royal Dutch Shell Plc, one of four refiners in Australia, is sourcing fuels from its own and other companies plants both within the country and in Asia to replace output at its Sydney unit, which is closed for maintenance.
Shell Pension Fund in Deficit an Investor in Madoff $50 billion fraud Fund?
I just saw on Dutch TV that a financial advisor claimed he KNEW that the Shell pension fund had invested in this Madoff fund in the recent past. He did not know whether they still are invested in this fund and phoned them. They would not say. Apparently they have borrowed 500 mln Euro at 4% with Fortis and bought into the Madoff fund which guaranteed 7%. They also invested 500 mln Euro of their own money. Since the Pension Fund had no comments, it presumably is true.
Is the Second Great Depression Imminent?
Here is the recipe for the greatest disaster ever. What cheap and abundant oil created, Peak Oil will destroy; our failure to invest in alternatives 10 or 20 years ago is about to fall on us.
Shell’s pension underfunded as contributions rise: Tue Dec 16, 2008 10:20am GMT
Shell's pension fund has commissioned a report to establish if its long-term strategy needs changing and will submit a recovery plan to the Dutch Central Bank, which is also the country's pension regulator, next year.
Misreading the Kremlin Costs BP Control in Russia Venture
Foreign companies were relegated to minority stakes. Facing a wave of regulatory pressure, for example, Royal Dutch Shell PLC in late 2006 ceded control of a $22 billion gas project to Gazprom.
Energy-Reserve Revisions
In 2004, Royal Dutch Shell PLC disclosed that it had overstated its reserves by 20%, leading to the ouster of its chairman, a Securities and Exchange Commission investigation and closer scrutiny of reserve calculations across the industry.
Big Oil Projects Put in Jeopardy by Fall in Prices
Were in remission right now, said Marvin E. Odum, the vice president for exploration and production for Royal Dutch Shell in the Americas. But once the economy picks up, he said, the energy challenge will come back with a vengeance.
Eating Isnt Option When Minnesota Corn Burns in Houston Cars
Today, burning crops like corn, soybeans and sugar cane for fuel is policy in the U.S., Brazil and the European Union -- while almost 1 billion of the worlds 6.8 billion people are hungry, the most in a generation.
Showa Shell to raise oil export capacity – source
TOKYO, Dec 16 (Reuters) - Showa Shell Sekiyu, Japan's fifth-biggest oil refiner, has been making efforts to boost its oil export capacity to make up for a shrinking domestic market, a company source said.
OPEC Plans Drastic Cut In Oil Production
Royal Dutch Shell has announced that it will delay some of its planned expansion of expensive oil sands projects in Canada. Rob J. Routs, executive director of oil products and chemicals and a member of the board at Royal Dutch Shell, said that reaching the target of 700,000 barrels a day would be "pushed out at least two to four years."
Clarification of Corrib gas route changes sought
...spokesman for community group Pobal Chill Chomáin, John Monaghan, questioned how such surveys had been undertaken since there was a District Court order preventing Shell from carrying out such invasive works in the commonage.
Stop the CSR Spin
Fortune, along with the CSR consulting firms AccountAbility, Csrnetwork and Asset4, came to the conclusion that BP and Royal Dutch Shell were among the top ten most "accountable" large companies on the planet. Of all the do-gooder companies of recent years, why exactly are these hydro-carbon greenwashing giants worthy of such admiration?
Drop in China’s oil demand pressures Opec to cut production
China's once ravenous hunger for energy is weakening at a record rate, compounding the pressure on Opec to slash global oil production this week by as much as two million barrels a day to prevent a glut.
Shell books 4th VLCC for storage in US Gulf
LONDON, Dec 15 (Reuters) - Oil major Royal Dutch Shell has a booked a fourth supertanker to store crude oil in the U.S. Gulf, ship brokers said on Monday.
In the shadow of Canada’s oil boom
Many in Fort Chipewyan hope low oil prices will put the brakes on that development. They believe they are suffering from the aftershocks of an industry expanding at a rampant pace without the necessary environmental limits.
Exxon May Lift Spending as Rivals Cut
Meanwhile, competitors including Royal Dutch Shell Plc, StatoilHydro ASA, EnCana Corp. and Petro-Canada announced planned spending cuts or postponement of projects, following oil prices decline from its peak in July, the report stated.
OPEC Races to Get Ahead of Declining Oil Demand
Some economists now compare OPEC's plight to that of the early 1980s, when soaring crude prices helped spur a recession in the U.S. and Europe. Oil demand fell sharply, as did oil prices. It took nearly 15 years for U.S. consumption to return to 1980 levels.
Nigerians get their day in court to fight oil companies
Shell spokesperson Robin Lebovitz said via email, "The allegations made in the complaints against Royal Dutch/Shell concerning the 1995 executions of Ken Saro-Wiwa and his eight fellow Ogonis are false and without merit. Shell in no way encouraged or advocated any act of violence against them or their fellow Ogonis."
The Big Gas Troika: A Lot of Hot Air
This article was originally published in the December 2008 issue of the IAGS Journal of Energy Security
SUNDAY, 14 DECEMBER 2008 00:00 WARREN WILCZEWSKI
Russias efforts to create within the Gas Exporting Countries Forum (GECF) a more focused “Big Gas Troika” composed of Iran, Qatar, and Russia have been identified as a serious threat to European, and global energy security. Following an October 21st, 2008 meeting in Tehran between representatives of the three countries, a Gazprom press release suggested this producers group (also referred to as a “Gas G3”) could be expanded, and include other GECF countries in what Alexei Miller calls an “Energy Pole.” Parallels with OPEC, which at its inception also functioned as a consultative body, are clear; the proposed organization bears the hallmarks of a nascent cartel an Organization of Gas Exporting Countries (OGEC), with Russia in the drivers seat. In the short term, prospects of such a cartel have remained a marginal concern for EU Energy Commissioner Andris Pielbags, who finds Norways categorical opposition to membership in such an organization reassuring. A recent IEA report, however, suggests such a cartel may indeed emerge within ten years, further empowering its members in their dealings with major gas importing countries.Motivations behind the recent flurry of activity vary. With crude (and thus prices of gas exports linked to it) currently below Russias $70 budget break-even point, the Kremlin needs a catalyst to bring prices up again. In this sense the aftermath of the Georgia conflict must have been a disappointment. Despite reports of Russian bombs landing just meters away from the Baku-Tbilisi-Ceyhan oil pipeline, energy prices continued dropping throughout August. Simultaneous saber-rattling rhetoric from Tehran, and suggestions by Revolutionary Guard General Mohammad Ali Jafari of a possible strike on US forces in the Strait of Hormuz, also failed to slow this downward slide. As prices continued to fall into September Russian Deputy Prime Minister Igor Sechin, attending OPECs Vienna meeting as an observer, suggested closer cooperation with the oil cartel, and proposed holding a meeting of the group in Moscow. After even this move failed to halt the decline in oil prices, to which most of Russias gas supply contracts are linked, a new approach was required.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
MORE DETAILS:
A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
