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The Independent

India success makes Cairn a worthy hold

FROM OUR ARCHIVES…

Combined with an oil price higher than ever, Cairn looks to be sitting very pretty. Much to the embarrassment of Shell, of course, which sold the Rajasthan field to Cairn two years ago for just £4m.

18 May 2004

The oilfields of India are proving to be more like gold to Cairn Energy, which yesterday announced yet more success in its Rajasthan site.

The second stage of drilling following its original find has not only confirmed initial expectations but led to an upgrade in its estimated reserves. The lowest hope had been for 50 million barrels from the site; now it is for 100 million barrels.

Combined with an oil price higher than ever, Cairn looks to be sitting very pretty. Much to the embarrassment of Shell, of course, which sold the Rajasthan field to Cairn two years ago for just £4m.
read more

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BP and Shell fight over African oil find

Italian search for partner to drill massive field off Mozambique attracts biggest energy players

Mark Leftly: SUNDAY 18 MARCH 2012

BP and Royal Dutch Shell are looking at a $4bn (£2.5bn) stake in a gas field in Mozambique, a sale that would confirm East Africa as the hottest growth area in world energy.

Eni, the Italian oil and gas giant, has claimed that the Area-4 gas find is the biggest in its history, but is looking to sell down its 70 per cent stake to find a partner who can help shoulder the capital expenditure.

There has been a huge surge in interest in the region, and several parties are understood to have flown to Milan to discuss buying a 20 per cent share of the field. Even taking the lower estimates of similar deals in the region, and ignoring the probable premium to work with an established player like Eni, that stake should be worth more than $4bn. read more

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Shell oil protesters climb National Gallery

Graphic from Greenpeace website

Tuesday 21 February 2012

Environmental campaigners climbed to the roof of the National Gallery today to stage a protest against energy giant Shell.

They scaled the gallery in London’s Trafalgar Square, where an evening reception is being held for Shell, saying they wanted to demonstrate against plans to drill for oil in the Arctic this summer.

The campaigners, from Greenpeace, dropped a 40-metre square banner, which has a picture of an oil rig and the words It’s No Oil Painting, down the front of the gallery. read more

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Europe is too emotional about fracking, says Shell chief

Tom Bawden: Friday 03 February 2012

Shell’s chief executive, Peter Voser, called on Europe for a less “emotional” response to fracking, as he outlined plans to accelerate the oil giant’s use of the controversial technology used to release hydrocarbons from rocks.

Mr Voser said Shell would invest $6bn (£3.8bn) to appraise, explore and develop gas and oil reserves contained in rocks this year, as it looked to significantly expand the volume of hydrocarbons it produces. read more

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Bloody nose for OFT in row over tobacco price-fixing

Tom Bawden Tuesday 13 December 2011

The Office of Fair Trading suffered a setback yesterday after a consortium of leading tobacco and retail groups overturned a previous ruling of unlawful pricing.

Imperial Tobacco, the maker of Golden Virginia rolling tobacco and Superkings, saw its £112.3m penalty reversed, and Co-op, Morrisons, Asda and Royal Dutch Shell were also successful in overturning their cases in front of the Competition Appeal Tribunal.

Imperial said it would now apply to recover its “considerable” legal costs. The case had alleged that two manufacturers and 10 retailers fixed prices on cigarettes, hand-rolled tobacco, pipe tobacco and cigars between 2001 and 2003, resulting in a total of £225m in fines last year, the biggest the consumer watchdog had levied. read more

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Oil exploration under Arctic ice could cause ‘uncontrollable’ natural disaster

Any serious oil spill in the ice of the Arctic, the “new frontier” for oil exploration, is likely to be an uncontrollable environmental disaster despoiling vast areas of the world’s most untouched ecosystem, one of the world’s leading polar scientists has told The Independent.

By Michael McCarthy, Environment Editor: Tuesday, 6 September 2011


Any serious oil spill in the ice of the Arctic, the “new frontier” for oil exploration, is likely to be an uncontrollable environmental disaster despoiling vast areas of the world’s most untouched ecosystem, one of the world’s leading polar scientists has told The Independent.

Oil from an undersea leak will not only be very hard to deal with in Arctic conditions, it will interact with the surface sea ice and become absorbed in it, and will be transported by it for as much as 1,000 miles across the ocean, according to Peter Wadhams, Professor of ocean physics at the University of Cambridge. read more

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Shell admits liability for huge oil spills in Niger delta

…amount leaked into the local environment could be as much as 10 million gallons.

…”one of the most devastating oil spills the world has ever seen…”

By Richard Hall: Thursday, 4 August 2011

Oil company Shell could be forced to pay hundreds of millions of dollars after accepting responsibility for two devastating oil spills in Nigeria’s Ogoniland region.

The agreement comes after the community in the Delta region of Nigeria brought a class-action lawsuit against Shell in the UK, alleging that spills in 2008 and 2009 had destroyed the environment and ruined their livelihoods.

Until now, Shell has claimed that less than 40,000 gallons were spilt in the accidents. But experts who have studied the spills in Bodo, Ogoniland, said the amount leaked into the local environment could be as much as 10 million gallons. read more

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Secret memos expose link between oil firms and invasion of Iraq


By Paul Bignall

Tuesday, 19 April 2011

Plans to exploit Iraq’s oil reserves were discussed by government ministers and the world’s largest oil companies the year before Britain took a leading role in invading Iraq, government documents show.

Iraq’s burgeoning oil industry: Click HERE to upload graphic (160k)

The papers, revealed here for the first time, raise new questions over Britain’s involvement in the war, which had divided Tony Blair’s cabinet and was voted through only after his claims that Saddam Hussein had weapons of mass destruction. read more

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UK held talks with oil firms before Iraq invasion -paper

LONDON, April 19 | Mon Apr 18, 2011 10:29pm EDT

(Reuters) – Britain discussed plans to exploit Iraq’s oil reserves with some of the world’s biggest oil companies five months before it joined the United States in invading the country, the Independent newspaper said on Tuesday.

Citing documents it said were obtained under a Freedom of Information Act request by campaigner and author Greg Muttitt, the newspaper said at least five meetings were held between government officials and oil majors BP (BP.L) and Royal Dutch Shell (RDSa.L) in October and November 2002. read more

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BP executives may face jail for manslaughter over Gulf disaster

The Independent

Tony Hayward faced a barrage of criticism when US politicians claimed that he stonewalled their questions last year

By David Usborne in New York Wednesday, 30 March 2011

Managers of BP could face manslaughter charges when prosecutors in the United States finally conclude their criminal investigation into the Deepwater Horizon explosion in the Gulf of Mexico last April that killed 11 rig workers and triggered the worst oil spill in US history.

The mere possibility that these and other charges may now be on the table at the US Justice Department, first reported last night by Bloomberg News, put new pressure on the shares of the energy giant. read more

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Shell’s Voser given pay rise of 62 per cent

The Independent

??By Sarah Arnott

Wednesday, 16 March 2011

Peter Voser, the chief executive of Shell, saw his earnings rocket by 62 per cent to $7.3m (£4.5m) last year.

The increase reflected his first full year in the top job, but the majority of it came from bonus payments after the oil giant beat its targets for cash flow, project delivery and gas production and safety, Shell’s annual report said.

SOURCE ARTICLE

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City awaits Royal Dutch Shell’s strategic review

Sunday, 13 March 2011

Oil giant Royal Dutch Shell will announce a strategic review on Tuesday.

The market will be looking for news on upcoming projects, cash flow targets and potential disposals. Analysts at Credit Suisse said that 2011 is a “transition year”, with a slew of mega-projects due to start in 2012. The City will also seek clarification over why capital expenditure has been higher than forecast. There are fears that this may signal high cost inflation in the sector.

SOURCE ARTICLE
read more

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Shell oil exploration threatens one of the world’s great wonders

Anglo-Dutch conglomerate applies for permit to drill just 30 miles off World Heritage-listed coral reef in Western Australia

PHOTO ALAMY: The Ningaloo Reef, under threat from Shell’s plans to drill for oil nearby

By Kathy Marks

Wednesday, 9 March 2011

Shell Oil has come under heavy criticism for planning an oil and gas drilling site that could threaten a coral reef off the coast of Australia that is among the most valuable marine ecosystems on the planet.

Just 30 miles away from the marine park that protects Ningaloo Reef, a haven for sealife that was recently nominated for World Heritage status, the proposed drilling project has raised fears of an oil spill that could seriously damage the reef and the creatures that depend on it. Warnings of the risks come shortly after a major international report that three quarters of the world’s coral reefs are under severe threat of ecological catastrophe from overfishing, pollution, and climate change. Ningaloo is one of the minority that is currently relatively protected from such dangers. read more

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Payback time for corporate villains?

(Graphics from the Guardian article: Unloveable Shell, the Goddess of Oil)

“Although Shell has extracted more than £30bn from the area, the people who live on the land survive on less than 60 pence a day, with barely any roads, schools or hospitals. Many of the Ogoni people who have spoken out against this scandal have been killed by the Nigerian state.”

By Johann Hari

At the moment, foreign victims of UK corporations are left with almost no ability to answer back

Article first published: 08 June 2006

At first glance, it seems almost comically boring, a triple dose of political Mogadon. The Company Law Reform Bill appeared for its second reading in the House of Commons yesterday, and although it’s easy to see why the biggest reform of Britain’s corporate rules in 150 years is a big deal, it’s hard to keep your mind focussed on the 900 pages of mind-numbing detail – until you realise one thing. There is a clear path running from these dry, jargon-packed pages to a human rights campaigner hanging by his neck on a rope in Nigeria and to the trashed rainforests of Indonesia. read more

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Evidence that Royal Dutch Shell paid for Nigerian Murders

The Independent on Sunday

Sunday, 5 December 2010: By Andy Rowell and Eveline Lubbers

Ken Saro-Wiwa was framed, secret evidence shows

Compelling new evidence suggests the Nigerian military killed four Ogoni elders whose murders led to the execution of the playwright and activist Ken Saro-Wiwa in 1995.

The evidence also reveals that the notorious military commander Lieutenant-Colonel Paul Okuntimo, whose troops were implicated in murder and rape, was in the pay of Shell at the time of the killings and was driven around in a Shell vehicle.

Since the time of Saro-Wiwa’s death, Shell has insisted that it had no financial relationship with the Nigerian military, although it has admitted paying it “field allowances” on two occasions. It has consistently denied any widespread collusion and payments. However, The Independent on Sunday has gained exclusive access to witness accounts that were to be used in evidence in the case of Wiwa vs Shell, brought by Ken Saro-Wiwa’s family. The case was settled last May for $15.5m, just days before it was due to start in New York. The settlement meant the testimonies were never made public. read more

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Government washes its hands of BP takeover

The Independent

Monday, 12 July 2010

By James Moore, Deputy Business Editor

BP will not be able to rely on support from the British Government if it is the target of a takeover bid, it emerged yesterday, as rivals considered whether to take a tilt at the embattled oil company. A spokesman for the Department for Business, Innovation and Skills (DBIS) declined to comment on reports that the US oil major Exxon, has been in contact with the Obama administration over a possible bid for its beleaguered FTSE 100-listed rival. But a spokeswoman for the DBIS said: “Takeovers and mergers are commercial matters for companies.” read more

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Attorney General hints BP’s partners may face criminal investigation

The Independent

Workers in Waveland, Mississippi, wear protective clothing as they clean up the oil that continues to wash ashore from the Deepwater Horizon oil spill: Getty Images

Transocean, the Swiss owner of the doomed Gulf of Mexico rig, faces the wrath of Americans as the cost of oil catastrophe reaches $3bn

By David Usborne

Sunday, 11 July 2010

Companies partnered with BP in developing the crippled Macondo well in the Gulf of Mexico could possibly also be targeted in the sweeping criminal investigation under way in Washington, Eric Holder, the US Attorney General, will say this morning.

Any switch of attention to the other players in the disaster, likely to include Transocean, owner of the doomed rig, may offer partial relief for BP which so far has been alone in taking the wrath of the White House and shouldering the costs of the catastrophe, which last week topped $3bn (£2bn). read more

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Obama urged to ‘punish’ BP with $100bn action

The Independent

By Mark Leftly

Sunday, 13 June 2010

Senior US politicians are pushing President Barack Obama to seek $100bn in damages against BP for the Gulf of Mexico oil spill in an attempt to kill the company.

If such an action were to be taken and won, the Ftse 100 flagbearer would almost certainly collapse into bankruptcy. Many prominent US figures would welcome this as suitable punishment for the environmental devastation off the Louisiana coast.

The news will heap further pressure on an embattled board, which meets tomorrow to decide whether to suspend dividend payments, vital to UK pension funds, as up to £1.8bn goes out to investors each quarter. read more

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America has become a hostage of its own quest for energy security

The Independent

Sean O’Grady

Monday, 7 June 2010

A drill ship uses a flare to burn gas and oil from a pipe connected to the broken Deepwater Horizon oilwell

America faces a problem, a dilemma so fundamental that not even the political skills of Barack Obama can disguise it, heightened by, but not originating in the BP affair: She either risks her environment by drilling for more domestically sourced oil, or she accepts the need to import more from a turbulent world – jeopardising her “energy security”. read more

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Shell faces shareholder questions on tar sands

The Independent

By Sarah Arnott

Tuesday, 18 May 2010

Shell will become the latest major corporation to face investor questions about tar sands developments at its annual general meeting (AGM) today.

Demonstrations outside the meeting in The Hague will be calling for an end to tar sands exploitation, while inside the hall the Anglo-Dutch group’s executives will be quizzed by shareholders on the financial risks.

Some 142 investors have backed a special resolution calling on Shell to give more details on the financial, environmental and human rights risks of tar sand, which make up a third of the major’s resource portfolio. read more

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Oil giants promise to rebuild industry in Iraq

Tony Hayward, the chief executive of BP, said that his company hoped to increase production in the Iraqi field it has agreed to modernise from one million to three million barrels a day over the next 10 years. His counterpart at Royal Dutch Shell, Peter Voser, made a similar commitment on the two fields Shell is involved with.

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Shell UK Chairman James Smith: We need a worldwide carbon trade

The Business Interview: Shell may seem an unlikely climate campaigner, but their UK chairman is crossing his fingers for an international deal on CO2 emissions at Copenhagen

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The demise of the dollar

In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading

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Report blames Shell over ‘cover-up’ of Nigeria’s oil spills

Independent auditors estimate that up to 13 million barrels of oil have been spilt in the Delta, an amount equivalent to an Exxon Valdez disaster every year for 40 years. The Niger Delta is home to some 31 million people, the majority of whom live in abject poverty despite the $600bn in oil revenues generated since extraction began in 1958. Nigeria's own watchdog reports that there are 2,000 current spills, the majority of them from Shell operations.

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Secret papers ‘show how Shell targeted Nigeria oil protests’

The Independent

Documents seen by The IoS support claims energy giant enlisted help of country’s military government

By Andy Rowell

Sunday, 14 June 2009

  

AP

Ogoni supporters protesting in New York last month, shortly before Shell agreed a $15.5m settlement in their case

Serious questions over Shell Oil’s alleged involvement in human rights abuses in Nigeria emerged last night after confidential internal documents and court statements revealed how the energy giant enlisted the help of the country’s brutal former military government to deal with protesters. read more

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Massive shake-up at Shell puts 24,000 jobs at risk

The Independent

Up to a third of senior management under threat

By Sarah Arnott

Thursday, 28 May 2009

Hot on the heels of the surprise resignation of top executive Linda Cook, Shell’s in-coming chief executive Peter Voser announced major restructuring plans yesterday that could cut thousands of rank-and-file jobs.

Some 24,000 staff at the Anglo-Dutch oil giant will be affected by the changes, with job losses expected to be in the thousands. Up to a third of senior management are believed to be under threat.

There are three major structural changes. The company’s three upstream businesses – exploration and production (EP), gas and power (GP) and oil sands – will be combined into two, new regional units: Upstream Americas and Upstream International. Mr Voser is also creating an entirely new “Projects & Technology” division which will manage everything from R&D to project delivery to contracting and procurement. Finally, some parts of Shell corporate are to be absorbed into specific business units, while the rest is streamlined under a single combined human resources (HR) corporate director role. read more

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Ken Saro-Wiwa: All the things he predicted have come to pass

The Independent

Chris Newsom: All the things he predicted have come to pass

Tuesday, 26 May 2009

The execution of Ken Saro-Wiwa and his colleagues in 1995 dragged Shell and Nigeria’s leadership into a controversy from which they find it difficult to extricate themselves. Fourteen years on, the actions of both are still seen through the prism of the showdown with the Ogonis. Ogoniland has remained in limbo: no oil has been pumped since 1993, there has been little development, and mediation efforts collapsed without one meeting between Shell and the Movement for the Survival of the Ogoni People. read more

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Backlash from investors over Shell bonuses set to intensify

The Independent

Shareholders vow to fight on to prevent payouts

By Sean O’Grady

Monday, 25 May 2009

Angry investors are demanding that Shell pays back millions of pounds of bonuses set to be awarded to the oil giant’s most senior executives – payments in defiance of a vote at the company’s annual meeting last week.

Over the weekend a number of large shareholders vowed that their increasingly militant campaign would continue, and stepped up the pressure by demanding the resignation of the chair of Shell’s remuneration committee, Sir Peter Job, who has been at the centre of the row over remuneration. Shell chief executive Jeroen van der Veer is on eight-figure remuneration – with a £1m bonus on top of his £9m salary. read more

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Jeremy Warner: Investors vent fury at Shell

The Independent

Wednesday, 20 May 2009

Outlook 

With all the focus on the excesses of bankers, other corporations must have thought it possible to get away with big pay packages to senior executives largely unnoticed. Yesterday’s protest vote by shareholders in Royal Dutch Shell provides a timely reminder that executive excess remains an issue wherever it lurks. Shareholders have rightly given their board a bloody nose. It is outrageous that such sums should be paid for doing little more than riding the boom in oil prices while so many are being asked to make sacrifices. read more

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Shell investors attack its executives over pay

The Independent

By Nick Clark

Wednesday, 20 May 2009

Investors in Royal Dutch Shell turned on the oil company’s management yesterday, with almost 60 per cent voting against planned remuneration packages for executives. However, the group said it intended to award the payouts anyway.

The board of directors faced angry shareholders at the group’s annual general meeting in the Hague yesterday, which was also beamed live to British investors who gathered at the Barbican Centre in London.

Shareholders are furious that Shell plans to award bonuses this year, even though the company missed its self-imposed performance targets. In an electronic ballot yesterday, 59.42 per cent of shareholders voted against the remuneration report. In a similar move a month ago, a third of BP shareholders voted against their board’s proposed remuneration package. read more

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Jeremy Warner: BP and Shell struggle to keep up with Exxon

Should BP and Royal Dutch Shell redomicile and relist to the United States? The question is largely academic, for it is most unlikely to happen any time soon. Yet London-based oil chiefs sometimes look longingly across the pond at the apparently superior share-price performance of Exxon Mobil.

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Investment Column: Shell’s dividend hike oils the wheels for income seekers

True, while Shell's investors should be concerned about what the chief executive, Jeroen van der Veer, calls "testing times in the oil and gas industry", they should note that despite the price of oil falling by about $100 a barrel in the last eight months or so, Shell's shares have outperformed the rest of the FTSE 100.

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Shell warns of US probe into corruption claims

Royal Dutch Shell, the Anglo-Dutch oil and gas giant was yesterday forced to warn shareholders about an ongoing investigation by US authorities over allegations that bribes were paid to Nigerian customs officials on behalf of the company.

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How Simon Henry got it wrong on the repercussions of Royal Dutch Shell reserves fraud

Simon Henry, Shell's head of investor relations, said that, nothwithstanding the huge extent to which proven reserves had been over-booked, none of the executives involved would be disciplined

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Gold-plated retirements

In spite of losing his job, Sir Philip managed to hang on to a not insubstantial annual pension of almost £600,000.

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BP’s unhappy marriage to the Russian oligarchy

If it is any consolation, Shell's venture with Gazprom in Sakhalin went even further awry. It is arduous indeed, but it is hard to see a company of the stature and ambition of BP, or Shell for that matter, opting out of the Russian growth story.

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Shell’s $10.6bn profits fuel windfall tax calls

Royal Dutch Shell's third-quarter profits ballooned by 71 per cent to $10.9bn (£6.7bn), the company said yesterday, reigniting outrage that energy companies are cashing in while inflated oil prices punish consumers.

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Global oil crunch

Even Royal Dutch Shell, commissioned to write a balancing view for the group's report, is forecasting a plateau of supply as production moves to more difficult sources such as ultra-deeplayers and tar sands.

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Recession fears drag FTSE down: Royal Dutch Shell was 5% lower with rival BP down 1%

Energy stocks were the other big losers as oil prices slid to a 14 month lows near 71 US dollars a barrel. Royal Dutch Shell was 5% lower with rival BP down 1%.

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He abdicated from Regal but he’s still in energy’s Vanguard

As the share price of Regal Petroleum, the London-based but Ukraine-focused oil producer, surged amid reports that Royal Dutch Shell was mounting a $1.2bn (£680m) bid for the company, a heavily moustached 52-year-old was watching the move with surprise.

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Oil rebels declare war in Nigeria

The main militant group in Nigeria's southern oil region declared a state of war yesterday after two days of clashes with the armed forces, raising the spectre of a stepped-up conflict in Africa's oil giant.

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Shut up, Borat – the tinderbox of Kazakhstan oil

However, Campbell Keir, Shell's chairman in Kazakhstan, tells an old joke that illustrates just how dominated the country is by Russia and China: "When a Kazakh wakes up, he opens his eye to the west to see if the bear is growling. If it isn't, the Kazakh turns his head to the east to see if the dragon is breathing fire. If it isn't either, the Kazakh gets out of bed."

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Time for multi-dimensional communication with oil companies

Friday, 15 August 2008

GREENWASH: “SHELL DOES NOT APPEAR TO HAVE LEARNT ITS LESSON”

By Guest Author Dr Arlo Brady

For the second time in the last couple of years the Anglo-Dutch oil giant Shell has found itself at the heart of the debate about greenwash in advertising.

In 2007 Shell ads suggested rather bizarrely that it had been using its waste CO2 emissions to grow flowers: the ad was condemned by the British Advertising Standards Authority (ASA). One year later another Shell ad has been banned. This time for suggesting that the company’s Canadian oil sand extraction operation was sustainable. Shell does not appear to have learnt its lesson.

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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.

FSA fines Credit Suisse £5.6m for deliberate mispricing

The largest fine – £17m – was issued to Royal Dutch Shell for market abuse. The FSA cited Shell's "unprecedented misconduct" after it mis-stated its reserves.

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 rebuked for ‘greenwash’ over ad for polluting oil project

n an embarrassing rejection of Shell's "greenwash", the Advertising Standards Authority said the company should not have used the word "sustainable" for its controversial tar sands project and a second scheme to build North America's biggest oil refinery.

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 Battle for Oil: EU’s hope to bypass Russian energy may be a pipe dream

The Independent

The Battle for Oil: EU’s hope to bypass Russian energy may be a pipe dream

By Claire Soares

Tuesday, 12 August 2008

Georgia may have no natural resources to speak of, yet it has become a key player for Europe, due to 155 miles of pipeline that snake across its territory.

The Baku-Tbilisi-Ceyhan pipeline is the only practical route for carrying Caspian oil to Western markets that avoids Russia – a treasured asset for the a European Union trying to reduce energy dependence on Moscow.

The BTC, which connects Baku in Azerbaijan, via the Georgian capital Tbilisi with Ceyhan, a port on the south-eastern Mediterranean coast of Turkey, was once billed as the “pipeline of peace”. Now it finds itself on the fringes of war zone as Russian and Georgia face off. 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 Niger Delta: The curse of the black gold

Mend's attacks on oil installations, including one on a Shell offshore field in June, have cut the country's oil production by at least 20 per cent. As a result, Angola has now overtaken Nigeria as Africa's largest oil producer.

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 rejects windfall tax calls as high oil price boosts profits

However, Mr van der Veer rejected talk of calls for a windfall tax on the oil majors, saying, "I don't see why it will help consumers in the long term" as it would limit its ability to invest in sourcing supplies in the future. An industry source said the majors didn't profit hugely from retail sales, making about 1p per litre sold at the pumps.

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.

Hayward must urgently address the Russian farce, even if it means selling

Has the time come for BP to cut its losses, quit Russia altogether...

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.

Riches in the Arctic: the new oil race

The future of the Arctic will be less white wilderness, more black gold, a new report on oil reserves in the High North has signalled this week. The first-comprehensive assessment of oil and gas resources north of the Arctic Circle, carried out by American geologists, reveals that underneath the ice, the region may contain as much as a fifth of the world's undiscovered yet recoverable oil and natural gas reserves.

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.