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March, 2014:

Niger Delta Communities Pressure Shell on 2011 Oil Spill

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Screen Shot 2014-02-10 at 16.29.29Extracts from a Heather Murdock article published on 17 March 2014 by Voice of America

read more

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Phillips 66, Shell Purchase Majority of U.S. Reserve Oil Sale

Screen Shot 2014-02-10 at 16.29.29Extracts from an article by Dan Murtaugh published 17 March 2014 by BloombergBusinessweek

Phillips 66 and Royal Dutch Shell Plc walked away with about 3.3 million barrels of the 5 million that the Energy Department sold in what will be the first release from the U.S. Strategic Petroleum Reserve since 2012. Phillips 66 purchased 2.04 million barrels at an average price of $100.23 a barrel. Shell bought 1.22 million for $97.53.

FULL ARTICLE

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Pipelines and welding risks for Shell: Kashagan and Prelude

Screen Shot 2014-02-12 at 13.18.45…customers of certain Far Eastern shipyards have found that in spite of vessels being delivered with all of the necessary certification, unsurveyed welds have not always been up to the standards of the specific “randomly selected” welds on which the certification had been based. This may have interesting implications for the Prelude vessel…. Since Shell does not seem to be able to ensure that the welds on their pipelines in Kashagan were properly executed, all of which should have been inspected, are they any more likely to be sure of the welds on Prelude?

From an oil industry expert

Mitsui paid $1.1 bn, and Anardarko perhaps $2.66bn to settle their liabilities in respect of Macondo.
 
Mitsui and Anadarko shared responsibility with BP because they were fully appraised of what was going on, and gave their approval to the Macondo operations. Shell is in the same position in Kashagan. It is rather naïve to compare Shell’s role as a partner in Kashagan with that of a shareholder in a public company.
 
In order for partners to give approval they require adequate information, to which they have ready access.
 
See this Wall Street Journal article for more information.
 
On another related subject, customers of certain Far Eastern shipyards have found that in spite of vessels being delivered with all of the necessary certification, unsurveyed welds have not always been up to the standards of the specific “randomly selected” welds on which the certification had been based. This may have interesting implications for the Prelude vessel…. Since Shell does not seem to be able to ensure that the welds on their pipelines in Kashagan were properly executed, all of which should have been inspected, are they any more likely to be sure of the welds on Prelude? read more

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.

Worlds biggest breach of employee data – Shell or Morrisons?

Screen Shot 2014-02-10 at 16.29.29“We are in possession of a massive database containing contact information for every Shell employee throughout the world.  It was supplied by an organized group of over 100 Shell employees from the USA, the UK and the Netherlands intent on a corporate revolution inside your company.”

By John Donovan

The news media has reported that Payroll details of 100,000 Morrisons staff have been published on the web.

The  UK supermarket chain launched an internal investigation after information about its 100,000 employees was allegedly leaked by an insider and posted on to the internet. According to The Daily Mail, “The company has set up a hotline and dedicated email address for staff who are worried about the possibility of their information falling into the hands of scammers. read more

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.

Shell Discovers Oil at Limbayong Field in Offshore Sabah

Screen Shot 2014-02-10 at 16.29.29Extract from an article by Petroliam Nasional Berhad published by RIGZONE on Monday 17 March 2014

Malaysia’s national oil and gas company Petroliam Nasional Berhad (Petronas) and Royal Dutch Shell plc announced Monday an oil discovery offshore Sabah, Malaysia. The drilling of the Limbayong-2 appraisal well was carried out by the consortium of Shell Malaysia (35 percent), ConocoPhillips (35 percent) and Petronas Carigali Sdn Bhd (30 percent).

FULL ARTICLE

Petroliam Nasional Berhad | Petroliam Nasional Berhad |
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Shell Nigeria: Forcados terminal closed by leak

Screen Shot 2014-02-10 at 16.29.29Extract from an Associated Press article published by The Washington Post on 16 March 2014

WARRI, Nigeria — Shell Nigeria says its Forcados crude oil export terminal is closed because of an undersea pipeline leak. The biggest oil producer in Nigeria refused to say how many thousands of barrels of exports are affected by the closure.

FULL ARTICLE

COMMENT FROM A REGULAR CONTRIBUTOR:

I guess the oil thieves must have bought themselves a set of scuba gear….

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.

How Shell’s cutbacks will feel in Houston

Screen Shot 2014-02-10 at 16.29.29Extract from an article by Jordan Blum published by Houston Business Journal on 16 March 2014

Shell is cutting about 400 people — out of about 1,800 total — from its onshore North American operations. But Shell spokeswoman Kayla Macke emphasized that most of those 400 employees will be “redeployed” to other Shell projects.

FULL ARTICLE

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Mark Moody-Stuart: Shell Xmas Gifts/bribes to the Police

By John Donovan

On page 187 of his *just published book dealing with difficult corporate ethical dilemmas, Sir Mark Moody-Stuart, retired Group Chairman of the Royal Dutch Shell Group, comments on the issue of Shell giving seasonal gifts to policemen.

He poses the question of whether Shell giving a seasonal gift of chocolates and fruit to policemen on duty near Shell offices constitutes a bribe.

In answer to his own question, he says: “In my opinion this is marginal, but I think nowadays it has been so deemed.” read more

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.

Ex Shell chief economist Vince Cable says ‘no-one needs to earn £1m a year’

Screen Shot 2014-03-16 at 10.11.56Extracts from a BBC News article published 15 March 2014 under the headline: Vince Cable says ‘no-one needs to earn £1m a year’

Business Secretary Vince Cable has said he does not understand why people need to earn £1m per year. “I’ve asked one or two of the more sympathetic bankers to explain it to me,” the Liberal Democrat said in an interview with the Observer newspaper. He said their response was “because others get it so I should, too”. “That is a ludicrous mindset. What on earth do these people think they are doing?” said Mr Cable, who recently criticised bonuses paid out by RBS. read more

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.

Irish oil/gas exploration debate

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Extracts from an article by Mark Paul published by The Irish Times on 14 March 2014 under the headline: “One More Thing: Industry lobbyists plan to strike back at the slick campaign of Own Our Oil”

They’re getting very strident on both sides of the oil/gas exploration debate as the review of licensing and fiscal terms ordered by Minister Pat Rabbitte gets under way. Eddie Hobbs and his media-savvy Own Our Oil (Ooo) group, derived from the campaign to stop drilling off the coast of delicious Dalkey, have come tearing out of the traps with their new book calling for the State to seek a much greater share of the spoils from any future finds off the Irish coast. Ooo, which is a bit like the Shell to Sea campaign in a three-piece suit, has been particularly pointed in its criticisms of the pro-industry brigade. read more

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.

Shell Oil fading

Screen Shot 2013-11-13 at 07.38.22Extracts from an article by Robert Magyar published 15 March 2014 by examiner.com under the headline: “Shell Oil fading in the Pennsylvania Marcellus”

A new analysis of the second half 2013 Pennsylvania Marcellus shale oil and gas production shows the vast majority of Royal Dutch Shell’s 630 wells are under performing compared to its peers. In northeast Tioga County, Shell’s wells are producing at less than half the rate of its area competitors. Its more bad news for Shell as its new CEO Ben Van Beurden announced on Thursday the company would cut its spending in onshore U.S. operations by 20% and begin selling off assets. Shell purchased its Marcellus shale holdings by buying Terry Pegula’s East Resources Inc. back in 2010 for $4.7 billion. By early 2013, Shell took a $2.1 billion write down on its U.S. shale operations. read more

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.

What should frighten stiff Royal Dutch Shell shareholders

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By John Donovan

Any Shell shareholders diligent enough to wade through all the small print in the recently released Shell Strategic Report have grounds to shudder at the confirmation buried on page 8 that Royal Dutch Shell PLC mainly self insures its risk exposures. This information should be prominently displayed in large red text, flashing if that was possible.

The relevant section even cites the BP Deepwater disaster for which BP had no external insurance. As a consequence, one of the worlds biggest companies was brought to the edge of bankruptcy by just one calamitous event. read more

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.

Shell will cut U.S. jobs

Screen Shot 2014-03-14 at 00.25.04Extract from an article by Josh Cain published 14 March 2014 by Houston Business Journal under the headline: Shell will cut oil field spending, U.S. jobs after disappointing shale plays

Royal Dutch Shell Plc (RYSE: RDSA), the oil and gas giant with a massive presence in Houston, said on March 13 that it would cut jobs and oilfield spending in the U.S. in light of disappointing returns from several shale plays.

FULL ARTICLE

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.

Shell casts doubt on Chevron’s Gorgon gas field start date

Extract from a BusinessDay article by Angela Macdonald-Smith published 15 March 2014

Royal Dutch Shell has cast doubt on the start-up schedule for Chevron’s $US54 billion ($59.6 billion) Gorgon liquefied natural gas project in Western Australia, signalling it expects production to begin in 2016, at least six months after Chevron’s official start-up date.

Shell – which has a 25 per cent stake in the huge venture, Australia’s largest single resources investment – classified Gorgon in a presentation released overnight as a project starting up in ”2016-2018”. Only this week, Chevron restated its timing of mid-2015. read more

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.

Seplat Sees No Oil Theft in Nigeria, Where Shell Lost $1 Billion

Extracts from a Bloomberg article by

Screen Shot 2014-02-10 at 16.29.29Seplat Petroleum Development Co., the Nigerian oil producer raising $500 million from investors, said it had “absolutely no” theft in Nigeria, where Royal Dutch Shell Plc lost almost $1 billion due to sabotage in 2013. Seplat in July 2010 bought three licenses from Shell onshore Niger Delta, which had been idled for about 18 months, and is bidding for stakes in two more, said Chairman A.B.C. Orjiako. The company developed the “Seplat model” of engagement with communities by hiring locals to provide services and oilfield security, he said. “We haven’t employed the thieves and criminals, but we made things difficult for them to operate in the area,” Orjiako said in a phone interview March 11. “Today we are very happy to see that Seplat has absolutely no incidents or disruptions due to community unrest.” read more

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.

Peter Voser regrets on unconventional oil and gas

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Peter Voser said the failure of Royal Dutch Shell’s huge bet on US shale was a big regret of his time as chief executive of the company. Shell has invested at least $24bn in so-called unconventional oil and gas in North America. But it is a bet that has yet to pay off. “Unconventionals did not exactly play out as planned,” Mr Voser said.

From an oil industry expert: Unconventional Oil and Gas

The following is an extract from an article by Guy Chazan published on 6 October 2013 by the Financial Times under the headline: “Peter Voser says he regrets Shell’s huge bet on US shale

Peter Voser said the failure of Royal Dutch Shell’s huge bet on US shale was a big regret of his time as chief executive of the company. Shell has invested at least $24bn in so-called unconventional oil and gas in North America. But it is a bet that has yet to pay off. Its North American upstream business has struggled to turn a profit and in August Shell announced a strategic review of its US shale portfolio after taking a $2.1bn impairment. “Unconventionals did not exactly play out as planned,” Mr Voser said. read more

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.

The scandal of Corporate bonuses, and why they continue:

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Screen Shot 2014-01-03 at 14.32.05Extract from an informative article by former Royal Dutch Shell senior executive, Paddy Briggs, published 27 Feb 2014

Seven-figure bonuses are common across the corporate world – at the very top of course! Here, for example, is what “The Guardian” reported about the remuneration of Peter Voser the then top man in Shell just under a year ago:

“Royal Dutch Shell Chief executive Peter Voser received a €3.3m (£2.8m) cash bonus in 2012, a year in which the Anglo-Dutch oil group reported a fall in profits from $28.6bn to $27bn. The bonus took his total salary package to €5.1m, down from €5.2m the previous year.” read more

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Ben Van Beurden’s plans overshadowed by Peter Voser’s £22m pay deal

Screen Shot 2014-01-03 at 14.32.05Extracts from an article by ROB DAVIES published on 14 March 2014 by The Daily Mail newspaper under the headline: “Shell boss Ben Van Beurden’s plans for the company are overshadowed by former boss Peter Voser’s £22m pay deal”

Shell boss Ben van Beurden’s grand plan to spruce up the oil giant has been overshadowed by criticism of his predecessor’s £22million two-year pay deal. The Dutchman set out a blueprint that will see Shell shrink its North American shale operations and improve efficiency by focusing on individual projects and businesses. But some investors seized on the fact that former boss Peter Voser earned £22million over two years – including a £1.5million bonus for 2013, a year that ended with the group’s first profit warning in a decade. One veteran City fund manager said: ‘Van Beurden said the 2013 performance was not what he expects from Shell. That begs the question of why any bonus was paid at all.’ read more

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.

Shell cuts spending in U.S. to lower shale exposure

Screen Shot 2014-03-14 at 00.25.04Extracts from a Reuters article by Karolin Schaps and Dmitry Zhdannikov published 13 March 2014

LONDON, March 13 (Reuters) – Royal Dutch Shell will cut spending by a fifth and lay off staff at its American exploration and production business, the company said on Thursday, in another sign that oil majors are struggling to profit from the booming U.S. shale sector. The spending cuts announced on Thursday follow Shell’s decision in January to suspend its controversial Arctic drilling programme and pledge to cut capital expenditure and streamline operations worldwide after the company’s least profitable fourth quarter in five years. “I don’t think it is a matter of trying to reinvent the company in a fundamentally different way; it is a matter of tackling some of the issues that we know need tackling,” van Beurden told journalists on a conference call after Thursday’s strategy update. read more

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Shell Cuts Americas Spending by 20%, Extends Refinery Sales

Ben van Beurden, Chief Executive Officer. Royal Dutch Shell Plc

Ben van Beurden, CEO Royal Dutch Shell Plc

Extracts from an article by Eduard Gismatullin published on 13 March 2014 by Bloomberg News

Royal Dutch Shell Plc (RDSA) plans to lower spending in the Americas by a fifth as Europe’s largest oil producer focuses on more profitable operations. It’s “not acceptable” that Shell, now deploying about 36 percent or $80 billion of its capital in North America, has been losing money, Chief Executive Officer Ben van Beurden said.

Van Beurden has pledged to shrink spending costs this year and speed up asset sales including refineries after The Hague-based company issued its first profit warning in a decade. He also scrapped targets for cash flow, delayed drilling off Alaska and promised to restructure shale operations in North America. read more

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.

Shell Trying To Tighten Grip On Its American Oil

Extracts from an article published 13 March 2014 by investing.com

Screen Shot 2013-12-22 at 19.09.52By Meagan Clark – Royal Dutch Shell’s CEO Ben van Beurden said Thursday that a tighter grip on its Upstreams Americas business will be integral to its plan to grow cash flow and improve returns. Shell is cutting spending in 2014 by 20 percent compared to 2013 and redirecting onshore investment in Upstream Americas to the lowest cost gas acreage with the best integration potential and to exploration in liquids-rich shales.  So far this year, Shell has sold $4.5 billion in assets as part of its 2014-2015 $15 billion asset-shedding program. read more

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Shell says Nigerian oil theft costs billions

Extracts from a Reuters article by Alex Lawler and Simon Falush published 13 March 2014

* Shell says $1 bln/month oil theft figure probably accurate

* Proposed legal changes curbing Nigeria’s oil output

* Some Nigerian risks worsened, Shell says in annual report

Nigeria is important for Shell because the African country provides almost 10 percent of the company’s output and is seen as a source of future growth.

FULL ARTICLE

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Time for Plain Talking at Shell

Extracts from an article by ANDREW PEAPLE published 13 March 2014 by The Wall Street Journal

Screen Shot 2013-12-22 at 19.09.52Shell’s basic message to investors appears to be that the oil major will spend more on assets it think it will prove profitable, while getting out of assets it doesn’t think will do so well. To rekindle investor interest, Shell’s new chief executive Ben van Beurden will have to provide more than platitudes. Turning round the company will take more than even the most finely-chosen words. read more

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Royal Dutch Shell Plc’s Profits Slump In 2013

Extracts from an article by Mark Stones publish 13 March 2014 by The Motley Fool

Screen Shot 2013-12-22 at 19.09.52Shell’s struggles have been well documented and a profit warning was announced in January. The shares have lagged the wider market over the last 12 months, falling 1.5%. In response Shell is cutting upstream spending in America by 20%, with the firm re-evaluating its shale operations… To bolster its capital strength the oil producer has embarked on a programme of asset sales…

FULL ARTICLE

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Shell says some North Sea assets may be added to the firesale

Ben van Beurden, Chief Executive Officer. Royal Dutch Shell Plc

Ben van Beurden, CEO, Royal Dutch Shell Plc

Extracts from an article by Martin Flanagan published on 13 March 2014 by The Scotsman under the headline: “Shell says some North Sea assets may be for sale”

OIL giant Shell suggested today that some of its “mature” North Sea energy assets may be for sale after a string of production breakdowns last year and as it seeks to rein in its growth plans under its new chief executive. Ben van Beurden, who took the helm 10 weeks ago, said in a presentation to financial markets: “We have to be honest with ourselves. The North Sea has disappointed for Shell in 2013. We are looking carefully at cases of unplanned downtime (of rigs).” read more

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Why wasn’t Marvin Odum fired after the Alaskan debacle?

MARVIN ODUM ,  DIRECTOR OF UPSTREAM AMERICAS

MARVIN ODUM , DIRECTOR OF UPSTREAM AMERICAS. ROYAL DUTCH SHELL PLC

Extracts from an article published on Thursday 13 March 2014 by Rigzone.com under the headline: “Shell Looks for Tighter Grip on Upstream Americas”

Shell CEO Ben van Beurden commented: “Shell has a strong asset base and industry leadership in many of its growth themes. While this position of strength gives confidence for the future, it is also clear that we need to get a tighter grip on performance management in Shell. I am determined that, by focusing sharply on our three key priorities – better financial performance, in particular in our Upstream Americas and Downstream businesses, enhanced capital efficiency, and continuing strong project delivery, we will continue to grow our cash flow and improve our returns.”

FULL ARTICLE

Comment from a well-informed reliable source

The losses in upstream in the US are only partially related to the Alaska fiasco.

The amount rumoured to have been lost by Shell on unconventionals in the US may actually be far higher than the amount spent in Alaska, even though the figures have not been widely publicised.

While Alaska was a very public debacle, the cost to date is perhaps $5 billion, which may yet be recoverable if production ever takes place. In contrast, unconventionals have cost a total of about $25 billion, much of which will never be recovered. read more

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.

Former Shell boss’s pay halved after poor performance

Extracts from a Reuters articled published Thursday 13 March 2014

Screen Shot 2014-01-03 at 14.32.05(Reuters) – The pay of Royal Dutch Shell’s former chief executive, Peter Voser, halved to $11.24 million last year following what the company described as a disappointing performance. Shell suspended its controversial Arctic drilling programme earlier this year and pledged to cut spending and streamline operations following disappointing earnings in the fourth quarter of 2013 that were the least profitable for five years. “The business performance in 2013 was disappointing. This is reflected in the reward outcomes for the year,” Shell’s head of remuneration committee Hans Wijers said on Thursday. The company said it had also trimmed the base salary of new chief executive, Ben van Beurden, to reflect shareholder sentiment. He will receive a base salary of 1.4 million euros ($1.95 million) compared with Voser’s 1.64 million euros. read more

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Former Shell chief paid £22m over two years despite profit warning

Article by Terry Macalister published by TheGuardian.com Thursday 13 March 2014

Annual report reveals how Peter Voser made enormous gains through share awards and other performance-related bonuses

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Former chief executive Peter Voser left Shell at the turn of the year. Photograph: Guido Benschop/AFP/Getty Images

Shell paid former chief executive Peter Voser £22m over two years even though there was a profit warning soon after he left and his successor says the business has failed to perform as strongly as it should have done.

The 2013 annual report published on Thursday shows that Voser, who left at the turn of the year, received total remuneration of just over £7m last year and almost £15m in 2012. read more

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Royal Dutch Shell profits hit during ‘challenging’ 2013

Screen Shot 2014-03-12 at 14.18.21Article published by BBC News 13 March 2014

Royal Dutch Shell had a “challenging year” in 2013 in part due to a deteriorating security situation in Nigeria, the company said.

Profits from refining operations were hit in Asia and Europe by an oversupply of global capacity and lower demand, the company said.

Annual profits at Royal Dutch Shell fell to $16.75bn (£10.05bn), from $27bn in 2012.

Nevertheless, the company said it has “laid firm foundations for the future”.

Several areas of Royal Dutch Shell’s business had operated below their full potential in 2013, chief executive Ben van Beurden said. read more

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Shell to cut Americas upstream spending by 20 pct

Reuters article published LONDON, March 13 Thu Mar 13, 2014 3:14am EDT

Screen Shot 2014-02-10 at 16.29.29(Reuters) – Royal Dutch Shell said on Thursday it was cutting spending on American upstream by a fifth this year after it was impacted by losses in resources plays such as shale.

“Shell is shrinking this portfolio and cost base, with 2014 spending to be reduced by 20 percent compared to 2013, and redirecting onshore investment to the lowest cost gas acreage with the best integration potential, and into on-going exploration in liquids-rich shales,” it said in a statement. read more

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Hull for World’s Largest Floating LNG Facility Floated Out of Dry Dock

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CLICK ON IMAGE TO ENLARGE

Extracts from an article published 12 March 2014 by the Daily Fusion

The 488-meter-long (1601 ft.) hull of Shell’s Prelude floating liquefied natural gas (FLNG) facility has been floated out of the dry dock at the Samsung Heavy Industries (SHI) yard in Geoje, South Korea, where the facility is currently under construction.  Prelude FLNG is the first deployment of Shell’s FLNG technology and will operate in a remote basin around 475 kilometres north-east of Broome, Western Australia for around 25 years. The facility will remain onsite during all weather events, having been designed to withstand a category 5 cyclone.

FULL ARTICLE

RELATED

Shell Prelude FLNG: loss of containment of hydrocarbons almost inevitable

“A distinct disadvantage however is that the risks to health and safety of persons employed offshore on the LNG FPSO’s, such as Prelude, will be higher, when compared to onshore LNG plants of similar capacity, specifically the potential for loss of life; …loss of containment of hydrocarbons is likely to occur on Prelude during its operational life, either through flaws in the design, human error or failure to inspect and maintain. It’s almost inevitable.  It’s only to be hoped that the consequences of these losses never reach their full potential.: read more

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.

The Scottish play

Extracts from an article by Stephen Wilmot published on 12 March 2014 by investors CHRONICLE

Screen Shot 2014-03-12 at 14.18.21Royal Dutch Shell (RDSA) became the latest corporate giant to weigh into the Scottish referendum debate last week. “We’d like to see Scotland remain part of the United Kingdom,” said chief executive Ben van Beurden at the company’s annual reception (as reported by the BBC). “We want to know as accurately as possible what investment conditions will look like 10 or 20 years from now.” Mr van Beurden’s position parallels that of Bob Dudley, his counterpart at BP… read more

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Royal Dutch Shell Plc’s Greatest Weaknesses

An article by Kevin Godbold published on Wednesday 12 March 2014 by The Motley Fool

Screen Shot 2014-01-30 at 00.47.49Drilling for oil is a dangerous business. We only need to look across at the firm’s rival BP and its 2010 Gulf-of-Mexico disaster to see how a drilling accident can financially cripple even a major oil company for years. Shell takes similar risks to BP on a daily basis and because accidents don’t happen every day, it’s easy to become complacent about that. However, man’s ingenuity won’t always defeat the forces of nature and the next big oil disaster could be just around the corner. read more

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The People vs Shell: Frack off

Extracts from an article by Staci Matlock published on 11 March 2014 by The New Mexican under the headline: “Land grant group joins Mora fight against oil drilling”

Screen Shot 2014-03-12 at 08.50.16The Mora Land Grant association has come down on the side of the Mora County Commission in a fight against the Royal Dutch Shell oil company and private landowners over oil and gas drilling. “This case is about who controls the water, the land, and the natural environment in Mora County — the residents of the county who have passed the ordinance to protect their rights and the rights of nature or an out-of-state corporation,” Jeffrey Haas, a Santa Fe attorney representing the land grant association, said in a statement. Jacobo Pacheco, a Mora County resident and member of the land grant, also is intervening in the lawsuit. He said in the history of the U.S. — whether it was voting rights, civil rights or now the rights of people over corporations — “there is a time to stand up for what is right.” read more

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WHAT CHIEF GLOBAL PETROLEUM ENGINEER IAIN PERCIVAL REALLY THOUGHT ABOUT…

Screen Shot 2013-12-10 at 09.33.03This article has been deleted at the request of Iain Percival.

RELATED CORRESPONDENCE ON SHELL BLOG

Stuart Posted on Mar 11th, 2014 at 22:33

With unreserved apologies if you HAVE gotten his support: I find it very sad that you would decide to publish old documents from Iain, a man whose integrity and dignity you praise. His career concerns, his job applications etc are not something that should be shown around for cheap amusement, and to keep alive your anti-Shell moaning.

Yes this stuff was already in the public domain, but your explanation for publishing essentially says “it was hard to find, so I’ve made it easy for everyone to gawp at it”. read more

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Shell Corrib Gas Project Developments

Screen Shot 2014-03-11 at 17.41.29

Extracts from an article by Mary Carolan published on 11 March 2014 by The Irish Times under the headline: “Judge fast-tracks hearing of Corrib gas challenge”

Screen Shot 2013-10-15 at 15.39.36A High Court judge yesterday granted an application from Shell E&P Ireland to fast- track the hearing of the latest legal action against the Corrib project and fixed a trial date on May 20th. The approach adopted by the Environmental Protection Agency (EPA) to its decision-making relating to licensing the refinery was “nothing short of alarming and extraordinary”, Martin Harrington has claimed. Last October, Mr Harrington, Geesala, Ballina, Co Mayo, won, on consent of the EPA, an order quashing a different revised licence issued by the agency for the Shell gas terminal at Bellanaboy, arising from defects in relation to how the EPA carried out an environmental impact assessment concerning the terminal development. Now he has brought a judicial review challenge to the amendment to the different 2007 licence. read more

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Lawmakers look into diesel smuggling and Shell Oil contract

Extracts from an article published by Kuwait News Agency (KUNA) 11 March 2014

Screen Shot 2014-02-10 at 16.29.29At a regular session on Tuesday… the lawmakers agreed to the request by the State Audit Bureau to get more time to prepare its reports on the sticky issue of the smuggling of diesel fuel and on the contract signed between Shell Oil Co. and Kuwait Oil Co. …the Minister of Oil addressed the lawmakers today regarding the issue of the signed contact with Shell Oil Co, about which a number of lawmakers commented. The minister explained that the State Audit Bureau had thoroughly examined the details of the contract and recorded its reservations on it and had turned the entire issue over to the public prosecutor’s office. read more

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Selection of links to Shell related articles

Screen Shot 2014-02-10 at 16.29.29Selection of links to Shell related articles kindly supplied by a regular contributor

Shell starts commercial US output of new motor oil made from 

Hydrocarbon Processing-21 hours ago Shell refers to its novel motor oil process as PurePlus technology, a patented process of converting natural gas into a clear base oil, which is 

Back in oil shale

Grand Junction Sentinel-10 hours ago Shell, Chevron and American Shale Oil hold R&D leases in Rio Blanco County from the earlier round of leasing — including three leases in 

Big Oil’s Biggest Project in Decades Is About to Start Paying Off

Motley Fool-by Rupert Hargreaves-9 minutes ago Indeed, the project is so large that it is taking a consortium of oil majors to develop it, including ExxonMobil (NYSE: XOM ) , Royal Dutch Shell 

Review: Little Thing, Big Thing

Irish Times (blog)-2 hours ago Like O’Kelly’s recent Fionnuala , his concern is the power of the oil industry,  But where Fionnuala made a punching bag out of a Shell Corrib 

Doubling Tar Sands production for Imperial War

CounterPunch-7 hours ago Given the size of soon to be exploited gas and oil reserves within …. to existing operations elsewhere, such as at Shell’s Peace River plant, that 

Energy diplomacy with the Dana Gas chief executive read more

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Cash All Gone

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Extracts from an article by Jim Landers published on 10 March 2014 by The Dallas Morning News under the headline: “Petroleum project costs worldwide benefit Texas prospect”

The cost of developing the world’s largest oil and natural gas fields has reached heights straining the budgets of even the largest oil companies. Royal Dutch Shell, Exxon Mobil Corp., Chevron and Total are all looking to spend less than they did last year on projects that have broken the $50 billion threshold. In Kazakhstan, where several of the biggest oil companies are struggling to bring online the Kashagan oil field beneath the Caspian Sea, project cost estimates have gone as high as $187 billion, according to Offshore Technology.com. Even if the Kashagan field begins production later this year well below that peak cost estimate, it may still take decades before the partners (Exxon Mobil, Shell, Italy’s Eni, Total, KazMunaiGas, IPEX and China National Petroleum Corp.) recover their costs. read more

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Shell on land buying spree near proposed Pennsylvania cracker plant

Extracts from an article by Rachel Morgan published on 10 March 2014 by TimesOnline

Screen Shot 2014-02-10 at 16.29.29POTTER TWP. — Shell Oil Co. has purchased another property near its proposed $2.5 billion petrochemical plant in Potter Township…  According to the Beaver County Property Assessment Records, the 5.49 acre property sold for $1.87 million. On Dec. 18, the oil and gas company paid $1.87 million for a nearly 5.5-acre parcel…. Another landowner near the proposed cracker plant site who spoke on the condition of anonymity said in December they had also been approached by Shell regarding purchase… read more

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Shell: no certainty fracking for Karoo shale gas economically viable

Extracts from an article by Melanie Gosling published on 11 March by Independent Online under the headline: “Fracking revenue still not quantified – Shell”

Screen Shot 2014-03-11 at 14.07.51Cape Town – Shell says there is no certainty that fracking for shale gas in the Karoo will be economically viable. Niall Kramer, Shell’s upstream manager, told delegates at a roundtable discussion on fracking on Monday that only once the oil company had completed exploration work would it be able to assess whether fracking would be economically viable. “Many people think this gas is a done deal. That’s not the case. read more

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Ukraine Crisis Endangers Black Sea Gas Drilling

Extracts from an article

Screen Shot 2014-03-10 at 23.56.16Before violent protests in Kiev overthrew pro-Moscow President Viktor Yanukovych and Russian troops occupied parts of Crimea, a group including Exxon and Royal Dutch Shell Plc (RDSA) planned to spend $735 million drilling two wells about 50 miles (80 kilometers) from the region’s southwest coast. “Exxon and Shell are now in a legal limbo,” said Chris Weafer, a partner at Macro Advisory in Moscow. They pursued an “exploration deal with a government which may soon no longer have jurisdiction over the region.” read more

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Sasol ‘eyes Shell Karoo acreage’

Extracts from an article by Eoin O’Cinneide published by upstream online.com

Screen Shot 2013-12-22 at 19.09.52South African petrochemicals giant Sasol is eyeing some of Shell’s shale gas acreage in the country’s Karoo basin… “We are really interested in what is going in the Shell block and would love to farm in or take a piece of it,” Reuters quoted Sasol chief executive David Constable as saying on Monday. “Shell is issuing profit warnings and pulling back capex right now.”

Full Article
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When Shell was forced to abandon $80 million Deep Mensa well

Screen Shot 2014-03-10 at 14.41.06By John Donovan

In 2002, Royal Dutch Shell had a close call in the Gulf of Mexico when the oil giant was “forced to abandon drilling an $80 million well at a prospect called Deep Mensa in the Mississippi Canyon after the drill bit got stuck at nearly 28,000 feet attempting to drill through fractured rock.”

The event was described in a recent book by Tom Bower – “The Squeeze” – as a disaster.

He wrote: “Technicians monitoring the data witnessed the ‘crash out’ – the uncontrolled vibrations which smashed the drill as it struggled through fractured rock. read more

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Pioneer Flourishes in U.S. Shale Fields Where Shell Floundered

Extract from an article by Joe Carroll published 10 March 2014 by Bloomberg News

Screen Shot 2014-02-10 at 16.29.29Pioneer Natural Resources Co. (PXD), the top energy stock in the S&P 500 last year, is tripling drilling in shale fields as international energy explorers five times its size recoil from losses on the U.S. oil renaissance. Pioneer’s wildcatting bucks the trend among bigger explorers including Royal Dutch Shell Plc (RDSA) that are writing down U.S. shale assets and shrinking their footprints after drilling money-losing wells. For Shell, the world’s second-largest oil producer by market value, the dwindling value of its U.S. shale prospects contributed to a $2.7 billion writedown of its oil and gas portfolio announced in January. The Hague-based company said it would scale back drilling in those fields because of disappointing results. Shell’s global output dropped 1.9 percent last year to the lowest since 2009, according to data compiled by Bloomberg. read more

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Little known key role of Michiel Brandjes in Shell reserves scandal

Screen Shot 2014-03-09 at 23.42.12However, unbeknown to Van de Vijver, Michiel Brandjes (right), who was alarmed by the findings of the report, sent a copy to a New York law firm Cravath, Swaine & Moore. This meant that events were no longer in the control of Shell. Instead, Shell’s most sensitive issue since its close association with Adolf Hitler and the Nazis several decades ago, had been disclosed to an outside firm, that had to consider and protect its own reputation.

By John Donovan

In May 2003, Frank Coopman, the then Chief Financial Officer of Shell EP, delivered bad news about Shell’s operations in Nigeria to the Chief Executive of Shell EP, Walter van de Vijver.

Van de Vijver sent Coopman back to Nigeria to investigate further.

The subsequent findings, set out in a status report, were even more devastating, revealing an overstatement of 1.1 billion boe.

Van de Vijver had instructed a team led by Coopman to work on the reserves issues.

The team included a top Shell lawyer, Michiel Brandjes, the then Company Secretary of Royal Dutch Petroleum. read more

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Shell says Ho-Ho pipeline shut after leak in Texas

Extracts from a Reuters  article by Selam Gebrekidan published on 7 March 2014 by The Chicago Tribune

Screen Shot 2014-02-10 at 16.29.29NEW YORK (Reuters) – Royal Dutch Shell on Friday said construction crew members punctured its Houston-to-Houma (Ho-Ho) pipeline near Port Neches, Texas, on Thursday afternoon, releasing 364 barrels of crude oil.

The company said it shut the pipeline after the leak. Emergency crews and first responders were deployed to the scene and are using absorbent booms to contain the oil, Shell said.

FULL ARTICLE

COMMENT RECEIVED FROM A SHELL RELATED SOURCE

John
 
The pipeline that was ruptured by a Shell contractor (Houston-Houma or HoHo line) is one of the assets that Shell is trying to sell… they recently modified it to reverse the direction of flow. And while 364 barrels might not sound like much, the actual amount might be considerably more (it’s not easy to measure) and even 100 barrels (~16000 litres) is enough to make a bit of a mess… and incur some serious cleanup costs. Presumably, the pipeline itself is now shut down.
 
The location is between Beaumont and Lake Sabine on the border between Texas and Louisiana.
 
Global coverage for the pipeline, but not a great advertisement for an asset that Shell is trying to sell…. read more

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Shell scaling back drastically on exploration and is selling assets

Extract from an article by John Pendleton published Friday 7 March 2014 by righands.com

Screen Shot 2013-12-22 at 19.09.52In 2013 several of the major oil companies spent lavishly on offshore prospects and are now feeling the pain of exploration efforts that didn’t pay off. Royal Dutch Shell, for example, spent more than five billion dollars in a bid for Arctic oil that was mired in litigation and so far has produced little in the way of results. Under new leadership Shell is now scaling back drastically on exploration and is selling assets. read more

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Ukraine, Shell Shale Gas Deal

Extracts from article by Maxime Zech published on Friday 7 March 2014 by NL Times.nl

Screen Shot 2014-02-10 at 16.29.29The Ukrainian parliament asked the new government on Wednesday for an investigation into the gas contract with Shell. There is suspicion that money is being funneled to ousted president Yanukovych and his cronies via the contract. The deal with Shell must be entirely clarified and must be off the table as soon as possible. As well as suspicion of corruption, Shell is also causing environmental damage in Ukraine by the application of techniques which are illegal in the Netherlands…  read more

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Royal Dutch Shell cavalier approach to corporate governance

Extracts from an article by Alex Brummer published on 6 March 2014 by thisismoney.co.uk (The Daily Mail)

Screen Shot 2014-02-10 at 16.29.29Royal Dutch Shell has often shown a rather cavalier approach to corporate governance. Its annual general meetings have become a battle ground over directors pay with institutional investors notably concerned over less than stretching bonus arrangements.

There has also been irritation over the failure to fulfil an undertaking to hold parallel annual meetings in London and the Hague. read more

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