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Posts on ‘March 3rd, 2017’

Shell and Exxon Knew, Norway Knows Too

GREENPEACE: Activists protesting Shell.

Norway has made billions from fossil fuels. Our US$900 billion Sovereign Wealth Fund – the world’s largest – has been harvested from nearly two decades of careful management of its oil wealth. But it’s time for Norway to turn its back on its oil-fuelled past, and embrace a different future.

On 28 February, the fund’s manager published data showing it had increased its holdings in oil majors during 2016 – companies including Shell, Exxon and the tar sands company Suncor. read more

Nigeria charges oil majors Shell, Eni with corruption

By AFPPUBLISHED: 22:33, 2 March 2017 

Nigeria’s anti-graft agency on Thursday filed corruption charges against oil majors Shell and Eni over a $1.3 billion offshore block deal.

The Economic and Financial Crimes Commission (EFCC) accused 11 defendants of “official corruption”, according to court documents.

Shell, Eni and Agip, Eni’s Nigerian subsidiary, are alleged to have corruptly given the “aggregate sum of $801 million” to Nigerian businessmen and politicians.

This is the latest probe into the controversial 2011 oil deal that highlights endemic corruption within the sector. read more

Shell Oil accused of ignoring climate threat known in 1991

By Valerie Richardson – The Washington Times – Thursday, March 2, 2017

The #ExxonKnew campaign never quite panned out as climate change activists had hoped, unless their goal was to see Exxon Mobil CEO Rex W. Tillerson sworn in as secretary of state. But that failure wasn’t enough to stop #ShellKnew.

Shell Oil came under fire this week from environmentalists after a Dutch blogger unearthed a 1991 video, “Climate of Concern,” produced by Shell warning of the possible consequences of climate change, prompting accusations that the company chose to ignore the situation in order to maximize profits. read more

Malabu: Why EFCC filed corruption charges against Shell, Eni, Adoke, others

Malabu: Why EFCC filed corruption charges against Shell, Eni, Adoke, others

Evelyn Okakwu: March 03, 2017

The Economic and Financial Crimes Commission, EFCC, on Thursday filed a three-count charge against two multinational oil firms, Shell and ENI, for their roles in the $1.1 billion Malabu oil scam.

The EFCC had in December filed related charges against two former Nigerian ministers, Mohammed Adoke and Dan Etete, and others after concluding investigations on the 2011 controversial‎ sale of OPL 245.

The alleged fraud committed by the ex-Nigerian officials and officials of the oil firms, has also led to investigations and charges in Italy. read more

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