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Eni’s strong performance has been clouded by allegations of bribery

Extract relating to OPL 245 Shell/ENI Malabu Oil Deal scandal taken from FT article: “Eni reports record oil and gas production”

Eni’s strong performance has been clouded by allegations of bribery related to a $1.3bn deal in 2011 to acquire one of Nigeria’s largest untapped oilfields. Mr Descalzi and several other current and former executives are due to stand trial for alleged corruption in Milan in March. Mr Descalzi has denied wrongdoing and Eni’s board has maintained its “full confidence” in him. read more

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Nigerian court sets Malabu oilfield corruption case hearing for June 18

ABUJA, Feb 15 (Reuters) – A Nigerian court has set a hearing over a disputed 2011 oilfield deal for June 18, the country’s financial crimes watchdog said on Thursday, part of a string of international corruption probes into the purchase.

The case relates to a purchase of the offshore OPL 245 oilfield in Nigeria by oil majors Royal Dutch Shell and Eni in 2011.

At the core of the case is a $1.3 billion payment from Shell and Eni to secure the block from Malabu Oil and Gas, allegedly controlled by former Nigerian oil minister Dan Etete. read more

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Inside the Bribery Scandal Sweeping Through the Oil Industry

Shell and Eni paid $1.3 billion for oil rights in Nigeria. Whether the money was mostly a bribe is at the heart of one of the industry’s most dramatic criminal cases

EXTRACTS

By Sarah Kent in Abuja, Nigeria, and Eric Sylvers in Milan: Feb. 13, 2018 12:40 p.m. ET

A top oil executive walked into the marble lobby of an exclusive Milan hotel on a chilly winter night. His dinner date was a former Nigerian oil minister offering to sell one of Africa’s biggest untapped oil discoveries.

Eight years later, the question of whether the $1.3 billion paid for the license to that prized oil field was mostly a bribe is at the heart of one of the biggest bribery scandals the oil industry has ever seen.

Shell executives, including Malcolm Brinded, Shell’s global exploration and production chief at the time of the deal, will also be tried on those charges, as well as both companies. Eni and Shell both deny wrongdoing, saying they simply paid the government and didn’t know the money would be used for … read more

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Shell made mistake by pulling out of Guyana basin

BY BERT WILKINSON: 31 JAN 2018

Now that Guyana’s oil and gas basin has been deemed as one of the hottest and most exciting prospects in the world, Shell Oil has to be regretting its decision to withdraw as an investment partner with United States giant ExxonMobil, which has so far drilled six successful wells offshore Guyana worth about 3.2 billion barrels of oil, officials said Monday, Jan. 29.

Minister of Natural Resources Raphael Trotman said Exxon’s mid 2015 “world class” oil and gas find has clearly taken away all the fears and apprehensions about wasting investor dollars exploring offshore Guyana and Shell is one company which has missed out on the chance to cash in on one of the world’s largest oil finds in more than a decade. Exxon plans to begin producing about 120,000 barrels of oil daily in early 2020. This will make Guyana the largest producer in the Caribbean Community. The others are Trinidad, Suriname and Barbados. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

With corruption investigations widening, oil companies with ties to Houston face reckoning

Big names in Houston’s energy world, like KBR, Shell and SBM Offshore, were suddenly having to explain how they came to win drilling rights and contracts worth billions of dollars in countries like Nigeria, Angola and Brazil. That money was then to be passed to Malabu Oil and Gas, a company controlled by the former Nigerian oil minister and convicted money launderer Dan Etete. For years, Shell said it was unaware of what happened to the money, but emails obtained by Global Witness indicated that the company knew the money was going to Malabu. read more

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Shell, ENI take final investment decision on ‘juicy’ OPL 245

By TheCable: 24 JAN 2018

Despite the litany of court cases surrounding the award of the juicy deepwater OPL 245, the two principal stakeholders in the acreage, Anglo/Dutch firm Shell and Italian oil giant Eni, are proceeding with the development of the main oil field already discovered.

TheCable Petrobarometer understands that Shell and Eni have taken the final investment decision (FID) to develop the field known as Zabazaba field, which lies in water depth ranging from 1,700 and 2,000 meters and holds an estimated oil reserves of up to a billion barrels. read more

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Nigeria Moves Closer to Energy Overhaul With New Oil Bill

Nigeria’s House of Representatives passed a bill governing the country’s energy sector after the Senate did so in May, taking Africa’s top oil producer one step closer to a much-awaited overhaul of the key industry.

The Petroleum Industry Governance Bill now awaits President Muhammadu Buhari’s signing to become law.

The bill will “promote openness and transparency in the industry by clarifying the rules, processes, and procedures that govern the oil and gas sector,” Senate President Bukola Saraki said in a statement Thursday. “After nearly two decades of back-and-forth, near-misses and ‘near-passages’, the 8th National Assembly finally reached a milestone.” read more

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Nigeria sues JP Morgan for $875 million over Malabu oilfield deal

Late last year, a Milan judge ruled that Shell and Eni must stand trial in Italy…

Libby George, Julia Payne: 18 JAN 2018 LONDON (Reuters) – Nigeria has filed a claim against JP Morgan Chase for more than $875 million, accusing it of negligence in transferring funds from a disputed 2011 oilfield deal to a company controlled by the country’s former oil minister.

A spokeswoman for JP Morgan dismissed the accusation on Thursday, saying the firm “considers the allegations made in the claim to be unsubstantiated and without merit”.

The suit filed in British courts relates to a purchase of the offshore OPL 245 oilfield in Nigeria by oil majors Royal Dutch Shell and Eni in 2011.

At the core of the case is a $1.3 billion payment from Shell and Eni to secure the block that the lawsuit says was deposited into a Nigerian government escrow account managed by JP Morgan. read more

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Dutch Court Upholds $5.2 Billion Asset Freeze On Kazakhstan Oil Field

Frozen Assets Securing a $520 Million Award Against Republic of Kazakhstan 

NEW YORK, Jan. 8, 2018 /PRNewswire/ — On January 5, 2018, Amsterdam District Court issued a judgment (the “Judgment”) in which it upheld an earlier ex parte attachment granted by the same court on September 8, 2017 to Anatolie Stati, Gabriel Stati, Ascom Group S.A. and Terra Raf Trans Traiding Ltd (together, the “Stati Parties”) with respect to the Republic of Kazakhstan’sshareholding in the Dutch entity KMG Kashagan B.V. (“Kashagan”) which shareholding is held via the Kazakh sovereign wealth fund Samruk-Kazyna (“Samruk”).  Through its stake in Kashagan, which has a nominal value of approximately US$5.2 billion, the Kazakh State participates in the international consortium relating to the Kashagan oilfield, one of the largest offshore oilfields in the Caspian Sea. Other members of the consortium include Eni, Royal Dutch Shell, Total, ExxonMobil, China National Petroleum Corporation and Inpex. read more

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Quest for new oil discoveries still on back burner

Ron Bousso: January 4, 2018

LONDON (Reuters) – Despite the strongest start for oil prices in four years, the world’s top oil companies are hesitating to accelerate the search for new resources as a determination to retain capital discipline trumps the hope of making bonanza discoveries.

Exxon Mobil, Royal Dutch Shell, Total and their peers are set to cut spending on oil and gas exploration for a fifth year in a row in 2018, according to consultancy Wood Mackenzie (WoodMac), despite a growing urgency to replenish reserves after years of reining back investment. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Leaked documents reveal how Shell blackmailed Nigeria in Malabu deal

29 December 2017

Confidential internal documents of Royal Dutch Shell suggest that the oil giant capitalised on the 2011 presidential election to arm-twist the federal government into a “cheap” deal over the sale of the disputed OPL 245.

The international oil company also used an arbitration case it filed with the International Centre for the Settlement of International Disputes (ICSID), an organ of the World Bank, to railroad the government into brokering truce between it and Malabu Oil and Gas Ltd, its estranged erstwhile partner and the original licensee. read more

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New Arctic Well Spudded

Credit: BSEE: By =&0=&2017-12-27 18:15:55 Oil exploration in U.S. Arctic waters got underway this week with the spudding of a new oil well from the man-made Spy Island in the Beaufort Sea. Eni began drilling the new well off the north coast of Alaska, becoming the first company to do so since 2015.The well is expected to be over six miles (10 kilometers) long, and the project could result in oil production levels of 20,000 barrels a day. Eni is working with Royal Dutch Shell and plans to drill two exploration wells plus two potential sidetrack wells over the next two years.

In 2015, Shell abandoned its exploration activities in offshore Alaska, citing high costs and stringent regulations. However, in April this year, U.S. President Donald Trump signed an executive order allowing offshore drilling in  the Arctic. This week, the Bureau of Safety and Environmental Enforcement (BSEE) issued a statement highlighting the importance of U.S. energy dominance and the Administration’s national energy strategy. It also noted that two BSEE personnel were on-hand at the spudding operation on Monday to ensure compliance with approved permits, federal regulations and safety standards. read more

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Italian oil and gas firm Eni buys out Shell’s stake in Evans Shoal gas field

GARY SHIPWAY, NT News: December 28, 2017 3:47am

THE Italian oil and gas firm that operates the Blacktip gas project, which supplies gas for Territory domestic power generation, has taken another significant step forward in its growth plans off Northern Australia.

ENI has bought out Shell’s stake in the large undeveloped Evans Shoal gas field 300km northwest of Darwin in the Timor Sea’s Bonaparte Basin.

The Blacktip gas field is 110km off our coast and pumps gas to ENI’s Yelcherr Gas Plant near Wadeye.

Evans Shoal is among five offshore gas ventures contributing to a $625,000 study being carried out into the feasibility of expanding the Darwin LNG plant. The study started in April and is due for completion this month. read more

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Eni Acquires Shell Stake in Australian Gas Field

By Marc Bisbal Arias Dow Jones Newswires

Eni SpA (ENI.MI) said Thursday that it has acquired the 32.5% stake in an Australian gas field owned by Royal Dutch Shell PLC (RDSA.LN)’s subsidiary Shell Australia Proprietary Ltd.

Terms of the deal were not disclosed.

The Evans Shoal field is located around 300 kilometers northwest of Darwin, where the Darwin liquefied natural gas plant is operating. The field is estimated to have at least 8 trillion cubic feet of raw gas in place, Eni said. The acquisition doubles Eni’s stake in the field to 65%.

The Italian company also said that it has become the operator of the retention lease NT/RL7 located in the north Bonaparte Basin, offshore Northern Australia. read more

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Eni and Shell on trial in Italy over Nigeria ‘corruption’

20 December 2017

Two global oil giants, Eni and Shell, are to stand trial in Italy over allegations of corruption in Nigeria.

The case involves the purchase of an offshore oil block in Nigeria for $1.3bn (£1bn) in 2011.

The companies deny wrongdoing, saying they acquired the rights in accordance with Nigerian law.

The trial in Italy is expected to start in March next year. It follows a lengthy investigation by Italian prosecutors.

Anti-corruption watchdog Global Witness says it could be one of the biggest corporate corruption trials in history. read more

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Italian Judge Orders Biggest Corporate Trial In History Against Shell, Eni, CEO And Executives Over Bribery Of Nigerian Government Officials

…face trial alongside four Royal Dutch Shell staff members including Malcolm Brinded CBE, former Executive Director for Upstream International and two former MI6 agents employed by Shell….The prosecutor further alleges that money was also channelled to Eni and Shell executives…

BY GLOBAL WITNESS: DEC 20, 2017

Royal Dutch Shell and Italian oil giant Eni have been ordered to stand trial in Milan on charges of aggravated international corruption for their role in a 2011 $1.1bn deal for Nigerian oil block OPL 245. Mrs Justice Barbara handed down the ruling today. The judge set March 5 as the date for the trial to begin.

Eni’s current CEO Claudio Descalzi, former CEO Paolo Scaroni, Chief Operations and Technology Officer Roberto Casula were also ordered to face trial alongside four Royal Dutch Shell staff members including Malcolm Brinded CBE, former Executive Director for Upstream International and two former MI6 agents employed by Shell. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell and Eni to Be Tried Over $1.3 Billion Nigerian Oil Deal

LONDON — An Italian judge ruled on Wednesday that two of the world’s largest oil companies, Royal Dutch Shell and Eni, the Italian company, must go on trial on charges of corruption over a $1.3 billion oil deal in Nigeria.

The judge set a March 5 trial date in Milan for the companies as well as a group of current and former executives, including Claudio Descalzi, Eni’s chief executive, and Malcolm Brinded, a former chief of exploration and production for Shell. No current Shell officials were to be tried in the case. read more

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Shell, Eni Face Italian Charges Over Nigerian Deal

Mr. Brinded said: “I have done nothing wrong and believe that will become clear in any legal proceedings. I stand by my view that there is absolutely no basis for the charges against me.”

By Eric Sylvers in Milan and Sarah Kent in London FeaturesDow Jones Newswires

An Italian judge Wednesday indicted Royal Dutch Shell PLC, the chief executive of the Italian oil-and-gas company Eni SpA and other industry executives on corruption charges connected to a 2011 deal to acquire drilling rights off the coast of Nigeria.

Prosecutors say in court documents that Eni CEO Claudio Descalzi and the other executives at both Shell and Eni knew that most of the $1.3 billion Eni and Shell paid to the Nigerian government to acquire the drilling rights would be distributed as bribes. Prosecutors will argue that Goodluck Jonathan, the Nigerian president at the time of the deal, received part of the kickbacks, according to court documents. read more

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Eni and Shell to stand trial in Italy over Nigeria kickback scandal

Oil giants Eni and Shell will stand trial in Italy over allegations of bribery and corruption in the 2011 purchase of an offshore oil block in Nigeria.

…email exchanges between Shell management cited in a report by corruption watchdog Global Witness, and seen by AFP, suggest that Shell was aware the money was likely to be funnelled to individuals, including Etete and Jonathan.

Italian giant Eni and fellow petroleum company Shell will stand trial in Italy over allegations of bribery and corruption in the 2011 purchase of an offshore oil block in Nigeria.

A judge in Milan ordered Eni, Shell and key figures such as Eni chief Claudio Descalzi and his predecessor Paolo Scaroni to stand trial in proceedings to begin March 5. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Eni, Shell to Face Trial in Italy in $1 Billion Bribery Case

The Anglo-Dutch company, whose former upstream director Malcolm Brinded is among those facing trial, acknowledged in April that it was aware of the destination of part of the payments…

Eni SpA and Royal Dutch Shell Plc and senior executives will face trial over a $1.1 billion bribery scandal in Nigeria, an Italian judge ruled on Wednesday.

The trial will start on March 5 in Milan, judge Giusy Barbara told reporters. The long-awaited decision, initially expected several months ago, will not only affect the two companies but 11 individuals including Eni Chief Executive Officer Claudio Descalzi.

The case is related to the acquisition of a deepwater oil-prospecting license by Eni and Shell in the Gulf of Guinea in 2011. Prosecutors allege that the two companies’ payment of almost $1.1 billion into a Nigerian government escrow account was later distributed as payoffs. While energy producers have come under scrutiny for bribery and corruption in the past, a trial centered around the sitting CEO of an oil major is rare. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Italy judge orders Shell, Eni to stand trial on alleged corruption in Nigeria

MILAN, Dec 20 (Reuters) – An Italian judge has ordered oil majors Royal Dutch Shell and Eni to stand trial over alleged corruption in Nigeria with the CEO of Eni among past and present managers involved, legal sources said on Wednesday.

The judge set March 5 as the date for the trial to begin, the sources said.

All the parties involved have previously denied any wrongdoing.

The case revolves around the purchase in 2011 of Nigeria’s OPL-245 offshore oil block by Eni and Shell for about $1.3 billion. read more

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Malabu Scandal: UK court rules in favour of Nigerian govt

and

A British judge ruled on Friday that up to $85 million from the notorious Malabu oil deal should be returned to the Nigerian government.

This is the first money to be successfully recovered from the $1.1 billion sale of the fantastically rich offshore oil block, OPL245, that has been mired in corruption allegations and legal trench warfare for years.

The sale, which was brokered by the then-government of Goodluck Jonathan in 2011, supposedly resolved a long running contest for the block between oil giant Shell and shelf company Malabu, beneficially owned by former Nigerian oil minister Dan Etete. read more

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Malabu Scam: Human Rights Group File Criminal Complaint Against Shell In Netherland

Specifically, the criminal complaint is aimed at Royal Dutch Shell Plc, Shell Petroleum N.V., and former or current directors Peter Voser, German Burmeister, Simon Henry and Ben van Beurden.

Prankken d’Oliveira, a group of Amsterdam-based lawyers, on Tuesday, submitted a criminal complaint against Shell and some of the company’s former directors in relation to Shell’s dodgy acquisition of the exploitation rights to the Nigerian oil block, OPL245, from Malabu Oil and Gas, a Nigerian shell company suspected to have been illegally awarded the licence to Mr. Dan Etete, while he was Nigeria’s Petroleum Minister. This was disclosed in a statement issued by the lawyers on Tuesday.

BY SAHARA REPORTERS, NEW YORK: DEC 05, 2017

Prankken d’Oliveira, a group of Amsterdam-based lawyers, on Tuesday, submitted a criminal complaint against Shell and some of the company’s former directors in relation to Shell’s dodgy acquisition of the exploitation rights to the Nigerian oil block, OPL245, from Malabu Oil and Gas, a Nigerian shell company suspected to have been illegally awarded the licence to Mr. Dan Etete, while he was Nigeria’s Petroleum Minister. This was disclosed in a statement issued by the lawyers on Tuesday. read more

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How Royal Dutch Shell/ENI Cheated Nigeria: Shell Emails Reveal Malabu’s OPL 245 Was Awarded For One-third of Company Estimates

Shell and Eni’s acquisition of Nigeria’s infamous OPL 245 oil block in Nigeria is now mired in an international corruption investigation that has spread to the United States, sources say, with a huge leak of documents of the companies revealing the deal was a financial disaster for the people of Nigeria from the beginning.  They also indicate that some of the money ended up in the hands of top politicians that include former President Goodluck Jonathan.  

BY SAHARA REPORTERS, NEW YORK DEC 04, 2017

Shell and Eni’s acquisition of Nigeria’s infamous OPL 245 oil block in Nigeria is now mired in an international corruption investigation that has spread to the United States, sources say, with a huge leak of documents of the companies revealing the deal was a financial disaster for the people of Nigeria from the beginning.

They also indicate that some of the money ended up in the hands of top politicians that include former President Goodluck Jonathan.

The companies, and several of their senior managers in Nigeria and Italy are already facing charges. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Feds approve first oil exploration in Arctic federal waters since Shell

It’s the first oil exploration in Arctic federal waters since Shell abandoned its campaign in 2015.

The company, Eni, aims to begin drilling in December. It will operate from an existing man-made gravel island called Spy Island. Spy Island is about three miles offshore, in state waters west of Prudhoe Bay.

The prospect is about four miles away from the island, so Eni plans to use extended-reach drilling. According to the company, it will be be the longest extended-reach well in Alaska. read more

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Analysis: Oil giants unlikely to share coal’s fate, for now

Ron Bousso, Simon Jessop, Susanna Twidale: NOVEMBER 17, 2017

The move by the $1 trillion fund, the world’s largest, rattled stock markets, exposing what is seen as one of the biggest threats to companies such as Royal Dutch Shell, Exxon Mobil and BP as the world shifts towards renewable energy such as wind and solar.

But in the meantime, expectations of growing global demand for oil and gas for decades to come mean reliance on these companies is likely to continue.

And although the Norwegian initiative will encourage those seeking to hasten the move to a low-carbon economy, the degree to which other investors can follow the fund’s example, at least in the short term, is less clear.

The European oil and gas index fell on Friday to its lowest since late September, extending declines following the Norwegian fund’s announcement. read more

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Norway Idea to Exit Oil Stocks Is ‘Shot Heard Around the World’

Norway’s proposal to sell off $35 billion in oil and natural gas stocks brings sudden and unparalleled heft to a once-grassroots movement to enlist investors in the fight against climate change.

The Nordic nation’s $1 trillion sovereign wealth fund said Thursday that it’s considering unloading its shares of Exxon Mobil Corp., Royal Dutch Shell Plc and other oil giants to diversify its holdings and guard against drops in crude prices. European oil stocks fell.

Norges Bank Investment Management would not be the first institutional investor to back away from fossil fuels. But until now, most have been state pension funds, universities and other smaller players that have limited their divestments to coal, tar sands or some of the other dirtiest fossil fuels. Norway’s fund is the world’s largest equity investor, controlling about 1.5 percent of global stocks. If it follows through on its proposal, it would be the first to abandon the sector altogether. read more

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Big Oil is under pressure, unloved and on sale. 

  • Norway wants to dump its stakes in oil and gas companies
  • Proposal adds to doubts over industry’s long-term outlook

Big Oil is under pressure, unloved and on sale.

Energy giants from Exxon Mobil Corp. to Royal Dutch Shell Plc are struggling back to their feet after a three-year oil slump, while also fighting to prove they can survive for decades to come amid an accelerating shift to clean energy. So getting dumped by the world’s biggest investment fund wouldn’t be welcome news.

Norway’s $1 trillion sovereign wealth fund said on Thursday that it wants to sell about $35 billion of shares in oil and gas companies to make the nation “less vulnerable” to a drop in crude prices. Global energy giants favored by long-term investors including Italy’s Eni SpA, PetroChina Ltd. and Russia’s Gazprom PJSC account for more than $20 billion of that total. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

World’s Biggest Wealth Fund Wants Out of Oil and Gas

The $1 trillion fund that Norway has amassed pumping oil and gas over the past two decades wants out of petroleum stocks.  

Norway, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to declining crude prices without its fund investing in the industry, the central bank said Thursday. The divestment would mark the second major step in scrubbing the world’s biggest wealth fund of climate risk, after it sold most of its coal stocks.

“Our perspective here is to spread the risks for the state’s wealth,” Egil Matsen, the deputy central bank governor overseeing the fund, said in an interview in Oslo. “We can do that better by not adding oil-price risk.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Malabu Oil Deal: Investigators Reveal Roles Played By Obasanjo, Russian Pres. Putin, Gusau, Etete, And Ex House Of Rep Member, Bature

BY SAHARA REPORTERS, NEW YORK OCT 15, 2017

The Malabu oil scandal, which began in 1998 under the military regime of the late General Sani Abacha, had the quartet of former President Olusegun Obasanjo, General Aliyu Mohammed Gusau a former National Security Adviser; Mr. Dan Etete, former Petroleum Resources Minister; Russian President Putin and House of Representatives member, Umar Bature as lead actors at various stages.

The transaction, which birthed the scandal, began when the Abacha regime decided to encourage indigenous participation in the upstream sector of the oil and gas industry. The regime allocated oil blocks to Nigerian companies at a reduced cost of $20 million per block. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Eni/OPL 245 growing global bribery probe

Jaclyn Jaeger | Extracts from article published Sept 19, 2017

Italian oil giant Eni in a public filing this month revealed further details about what corruption allegations and investigations its facing around the world.

Corruption allegations against Eni now include Nigeria, Iraq, Kazakhstan, Algeria, and Congo. The number of enforcement authorities, employees, and subsidiaries involved in these allegations has also grown.

Block OPL 245 — Nigeria. Eni first mentioned allegations of international corruption in a Form 6-K (Report of Foreign Issuer) in 2014. In that report, the company said that it had been served with a notice of investigation in July 2014 by the Italian Public Prosecutor in Milan “relating to potential liability on the part of Eni arising from alleged international corruption.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Big Oil Becomes Greener With Cuts to Greenhouse Gas Pollution

It’s no secret that oil majors are among the biggest corporate emitters of pollution. What may be surprising is that they’re reducing their greenhouse-gas footprints every year, actively participating in a trend that’s swept up most corporate behemoths.

Sixty-two of the world’s 100 largest companies consistently cut their emissions on an annual basis between 2010 and 2015, with an overall 12 percent decline during that period, according to a report from Bloomberg New Energy Finance released ahead of its conference in London on Monday. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

UPDATE 1-Kazakhstan may strike separate deal with OPEC on oil output curbs

Kashagan has been developed by a consortium of China National Petroleum Corp, Exxon Mobil, Eni , Royal Dutch Shell, Total, Inpex and KazMunaiGas.

By Mariya Gordeyeva: SEPTEMBER 7, 2017 / 2:28 PM

ASTANA, Sept 7 (Reuters) – Kazakhstan is aiming for a standalone deal with leading global oil producers on restraining its crude production due to a need to crank up output at its Kashagan field, a Kazakh official said on Thursday. 

The Central Asian nation increased oil and gas condensate output by 9.9 percent in January-July to 49.907 million tonnes, or 1.724 million barrels per day (bpd), exceeding its quota of 1.7 million bpd under a global supply pact. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Trump Rolls Back Anti-Corruption Efforts in the Oil Industry

In Nigeria, one anti-corruption campaigner fears that if the era of U.S.-led transparency initiatives is over, the relapse will be stark. In April, Global Witness published e-mails documenting the case of a payment of more than a billion dollars that Royal Dutch Shell and the Italian oil company Eni made to Nigeria through unusual channels. According to Global Witness, Shell “knew it was party to a vast bribery scheme,” and international investigations are under way.

By : 11 August 2017

The rule, which was mandated by a law co-sponsored by former Republican Senator Richard Lugar, of Indiana, and Democratic Senator Ben Cardin, of Maryland, was designed to combat bribery and corruption, especially in poor countries governed by kleptocrats. Thirty other countries, including Canada and the members of the European Union, had already adopted similar requirements. Yet the American Petroleum Institute and companies such as ExxonMobil, at the time when Secretary of State Rex Tillerson was still its C.E.O., had lobbied against the rule. They said that it was costly to implement and gave unfair advantage to overseas competitors to which it did not apply. When Trump took power, the lobbyists got their way. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Kazakhstan: US sanctions will not affect oil projects

Kazakhstan: US sanctions will not affect oil projects

by: : 8 Aug 2017

New US sanctions against Russia will not affect multi-billion dollar oil projects in Kazakhstan backed by Chevron, ExxonMobil and other western energy majors, the country’s economy minister has said. Italy’s Eni, France’s Total, Exxon and Royal Dutch Shell all hold stakes in Kashagan, another Kazakh oil field. The decision to expand sanctions… was taken to primarily target Gazprom’s under-construction Nord Stream 2 gas pipeline to Germany… partially funded by… Shell… FULL FT ARTICLE read more

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Shell outlines projects on track for FIDs

Friday, Aug 04, 2017

European upstream projects in the UK and Italy are among the eight Royal Dutch Shell proposals scheduled for a final investment decision (FID) before 2018.

Shell is considering a redevelopment of the Penguins cluster in the northern North Sea. This would see the installation of a new FPSO to replace the current 65-km tie-back of Penguins’ five deposits to the ageing Brent Charlie platform.

Charlie is the only one of four Brent platforms that is still producing oil, and Penguins requires a new outlet for processing once the field is finally decommissioned. read more

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EU warns U.S. it may respond swiftly to counter new sanctions on Russia

A list prepared by the EU executive, seen by Reuters, shows eight projects including those involving oil majors Anglo-Dutch Shell, BP and Italy’s Eni that risk falling foul of the U.S. measures. EU officials warn the U.S. measures would also hit plans for the LNG plant on the Gulf of Finland in which Shell is partnering with Gazprom.

Alissa de Carbonnel: 26 July 2017

BRUSSELS (Reuters) – The European Union warned on Wednesday that it was ready to act within days to counter proposed new U.S. sanctions on Russia, saying they would harm the bloc’s energy security.

Sanctions legislation overwhelmingly approved by the U.S. House of Representatives on Tuesday has angered EU officials: they see it as breaking transatlantic unity in the West’s response to Moscow’s annexation of Crimea from Ukraine in 2014 and its support for separatists in eastern Ukraine. read more

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Investors Squeezing Oil & Gas Developers To Cut Methane

Investors Squeezing Oil & Gas Developers To Cut Methane

, I write about the global energy business.: July 20, 2017: Opinions expressed by Forbes Contributors are their own.

Oil and gas developers may soon be feeling the effects of a one-two punch — an adverse court ruling dealing with their methane emissions and now an investor-led initiative pushing them to be more transparent.

Natural gas, of course, has become the fuel of choice — a fuel that markets itself as far less pollutive than coal. But methane is its main component, which is 84 times more potent than CO2, although its lifespan is 20 years compared to 100. Indeed, methane makes up about 25% of the global warming today. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Kazakhstan and Eurasia new oil consortium in a multi-billion Caspian project

LONDON (TCA) — In a move presented as glorious and spectacular, oil companies from Russia (Rosneft), China (CNPC), Kazakhstan (Kazmunaygas), Azerbaijan (SOCAR) and Italy (Eni) have teamed up to form a consortium for the exploration and exploitation of what is expected to be a new “giant” located in the very heart of the northern Caspian tectonic structure. The project, if successful and market demand to remain unchanged, should prolong the position of Kazakhstan as a global-scale oil supplier from 2040 till 2080. The Kazakhs are committed to contribute in the order of a billion greenbacks each year from now to the project. No overall picture of the total price tag has been presented so far. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Trump administration approves Eni plan to drill offshore Alaska

Royal Dutch Shell Plc quit its exploration quest offshore Alaska in 2015 after a ship it had leased suffered a gash in mostly uncharted waters…

WASHINGTON (Reuters) – Eni US will become the first energy company allowed to explore for oil in federal waters off Alaska since 2015 after the Trump administration this week approved a drilling plan on leases the company has been sitting on for 10 years.

The Bureau of Ocean Energy Management approved the drilling plan of Eni US, a unit of Italy’s Eni on Wednesday as part of President Donald Trump’s plan to boost oil and gas drilling and make the country “energy dominant.” read more

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Nigeria Delta Communities Demand Stake in Ex-Shell Oil Block

A group of communities in Nigeria’s Niger River delta demanded a stake in an oil block it said it was promised when Royal Dutch Shell Plc sold its share to a local company six years ago.

The communities in the Gbaramatu district, near the southern oil town of Warri, want 5 percent of a lease owned by Lagos-based Neconde Energy Ltd.and state-owned Nigerian National Petroleum Corp., according to a statement emailed by the group on Friday.

Neconde “refused to fulfill the 5 percent equity share to the host communities, whose environment has been negatively impacted and devastated by oil activities, destroying our age-long traditional fishing business,” Momotimi Guwor, a spokesman for the communities, said in the statement. read more

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Nigeria Parliament Inquiry Calls Ex-President Jonathan Over Oil Block Sale Scandal

July 5, 2017

ABUJA (Reuters) – Nigeria’s lower house of parliament called on Wednesday for ex- president Goodluck Jonathan to testify in an inquiry into the contested sale of an oil block during his tenure, the investigating committee said.

Investigations into the $1.3 billion sale in 2011 of oil prospecting license (OPL) 245, which could harbor more than 9 billion barrels of oil, have involved Nigerian, Italian and Dutch authorities, two of the world’s largest international oil companies as well as a convicted money launderer. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Crude Slump Wipes $113 Billion From Oil Drillers

By Rakteem Katakey: 30 June 2017

Oil companies have spent three years slashing spending and firing workers to protect profits, only to find their hard work blown away as prices entered another bear market. The MSCI World Energy Sector Index is heading for a second consecutive quarter of declines, mirroring the drop in crude. The 90 companies that make up the index, including giants like Exxon Mobil Corp. and Royal Dutch Shell Plc, have together lost $115 billion in market value since the start of April, according to data compiled by Bloomberg. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Oil Majors Snatch Up Mexican Oil Blocks

By Nick Cunningham – Jun 20, 2017, 4:00 PM CDT

Mexico hosted another oil auction on Monday, auctioning off shallow water oil and gas blocks to international companies. The auction was the latest in a series of offerings related to the country’s historic energy reform, which opened up Mexico’s energy sector to private investment.

The latest auction had modest hopes, as the blocks on offer were in shallow water areas, far from the much more sought after deepwater blocks near the U.S. maritime border. But the results exceeded expectations, with a handful of oil majors jumping into the fray.  read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Norwegian Union Threatens Strike at Statoil, Shell, Eni Platforms

OSLO — About 150 oil platform workers would go on strike, potentially disrupting output from several Norwegian fields, if they fail to get a pay deal by midnight on Friday, their union said on Tuesday.

Lederne, the smallest of the three Norwegian unions representing oil industry workers, said the strike would target platforms at Eni’s Goliat, Shell’s Draugen and Statoil’s Kvitebjoern, Oseberg East and Gudrun fields.

“We believe it would mean shutting down production on those platforms,” a spokesman for the union said. read more

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Malabu oil deal: Court shifts hearing of Shell, Agip, EFCC’s objection to July 5

The Federal High Court sitting in Abuja on Thursday fixed July 5, 2017 to hear the preliminary objections to a suit filed by Malabu Oil and Gas Ltd against the Federal Government.

Joined as defendants in the suit are the Minister of Petroleum Resources, Shell Nigeria Ultra-Deep Limited, Shell Nigeria Exploration and Production Company Ltd; Nigerian Agip Exploration Company Ltd; Economic and Financial Crimes Commission (EFCC) and Chief Dan Etete.

In the suit filed on 10th April, 2017, Malubu Oil and Gas Limited is seeking an order of court stopping Shell Nigeria Exploration and Production Company and Nigerian Agip Exploration Company Limited from signing the Final Investment Decision (F.I.D) for the $13.5 billion Zabazaba Deep water Project located in Oil Prospecting Licence (OPL245) in the second quarter of this year. read more

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ShareAction urges investors to reject BP, Shell pay policies leftright 2/2leftright

Graphic from a Financial Mail On Sunday article published in Sept 2015

Campaign group ShareAction on Tuesday called for investors to oppose remuneration policies at oil majors BP and Royal Dutch Shell as the policies were not tied closely enough to targets to reduce carbon emissions.

ShareAction said this meant both companies’ plans were misaligned with the interests of long-term shareholders.

ShareAction said it had contacted shareholders at both companies and was helping pension savers to write to their funds about voting down the remuneration policies. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell to invest $25 billion in Nigeria, other countries

Shell to invest $25 billion in Nigeria, other countries

Oil giant, Royal Dutch Shell, has announced plans to invest about $25 billion this year in Nigeria and all its oil and gas operation across the world.

Shell made the announcement in its first quarter 2017 financial results released on Thursday.

The report revealed that Shell netted an income of $2.2 billion and was expecting to generate $10 billion in cash flow from the delivery of some of its new projects by 2018.

The company recently announced the resumption of oil production at its 225,000 barrels per day (bpd) Bonga Floating Production Storage and Offloading (FPSO) field in Nigeria’s deep-waters. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Nigeria: Despite Malabu Scandal, Shell, Eni Will Continue to Operate OPL 245 – Govt

3 MAY 2017

The Federal Government says the Zabazaba deepwater project in Oil Prospecting Lease (OPL) 245 will continue in spite of controversies surrounding the oil block.

The Minister of State for Petroleum Resources, Ibe Kachikwu, said this in Houston Texas, U. S. while addressing journalists on the sidelines of the annual Offshore Technology Conference.

According to him, the project, which is to be carried out by the trio of the Federal Government, Shell and the Nigerian Agip Exploration Limited (NAE), will go on as scheduled and the protracted dispute on the block with Malabu oil will not affect it. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Malabu Deal: NGO Seeks Inclusion Of Nigeria In Prosecution Of Shell, Eni

BY HUMAN AND ENVIRONMENTAL DEVELOPMENT AGENDA (HEDA RESOURCE CENTRE) APR 20, 2017

The Human and Environmental Development Agenda (HEDA Resource Centre), a Nigerian non-governmental organization, has petitioned Vice President Yemi Osinbajo, urging him to request that Nigeria be included in the Milan Court’s prosecution of Shell and Eni with respect to the scandalous Malabu deal.

In a petition addressed to Mr. Osinbajo, who also doubles as the Chairman of the Asset Recovery Committee, HEDA advised the federal government to request that the Italian court judge should recognize Nigeria as a civil party to the Malabu criminal proceeding in order to request adequate compensation for the damages received by the corrupt scheme. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan
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