Royal Dutch Shell Group .com Rotating Header Image

Posts on ‘July 1st, 2005’

No longer just shareholders who have their say

Financial Times: Letters: No longer just shareholders who have their say

Friday 1 July 2005

By Tony Juniper
From Mr Tony Juniper.

Sir, Once again Shell seems to have got its facts wrong (Letters, June 30). Friends of the Earth did not pay for community representatives to travel to this year’s Shell annual meeting as Sir Mark Moody-Stuart claims.

Perhaps if he, and others from Shell, were to spend more time talking to and meeting people in the communities where they work, then these people would not feel the need to attend the AGMs.

Because stakeholders are not listened to by Shell or by other big companies, their options for making their concerns known are limited. That is why it is time the UK government amended company law to ensure that affected communities are given rights and it is no longer just shareholders who have their say. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

No longer just shareholders who have their say

Financial Times: Letters: No longer just shareholders who have their say

Friday 1 July 2005

By Tony Juniper
From Mr Tony Juniper.

Sir, Once again Shell seems to have got its facts wrong (Letters, June 30). Friends of the Earth did not pay for community representatives to travel to this year’s Shell annual meeting as Sir Mark Moody-Stuart claims.

Perhaps if he, and others from Shell, were to spend more time talking to and meeting people in the communities where they work, then these people would not feel the need to attend the AGMs.

Because stakeholders are not listened to by Shell or by other big companies, their options for making their concerns known are limited. That is why it is time the UK government amended company law to ensure that affected communities are given rights and it is no longer just shareholders who have their say. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

The Guardian (UK): US drops Shell criminal action

The Guardian (UK): US drops Shell criminal action

Mark Milner and David Teather in New York

Friday July 1, 2005

Shell will not face criminal prosecution by federal authorities in the United States for overstating its oil and gas reserves, the company said yesterday.

It said the US department of justice had concluded its investigation and David Kelley, the attorney for the Southern District of New York, had announced that no further action would be taken.

Jeroen van der Veer, Shell’s chief executive, said the company appreciated Mr Kelley’s decision. “The conclusion of this investigation is a most important step towards putting the matter of reserves recategorisations behind us.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Lloyds List: US legal reprieve for oil major Shell

Lloyds List: US legal reprieve for oil major Shell

When the scandal broke, Shell’s then chairman, Sir Philip Watts, was sacked and US shareholders were threatening to take legal action. There are three legal actions remaining and on one the oil major is waiting for a decision on a motion to dismiss the case. On the other two, Shell is in settlement discussions, said a spokesman.

Friday Jul 01, 2005

Martyn Wingrove

ROYAL Dutch/Shell Group has been saved from further US legal action after the Department of Justice dropped its investigation into the firm’s recategorisation of oil and gas reserves.

US attorney for the southern district of New York David Kelley has dropped his case and will not be taking any further actions against Shell, which slashed almost a quarter of its proved oil and gas resources last year.

‘The conclusion of this investigation is a most important step towards putting the matter of the reserves recategorisation behind us. We appreciate US attorney Kelley’s decision,’ said Jeroen van der Veer, Shell’s chief executive. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

U.S. Attorney Ends Investigation of Shell

THE NEW YORK TIMES: U.S. Attorney Ends Investigation of Shell

“The prosecutor also cited Royal Dutch/Shell’s payment of a $120 million fine imposed by the Securities and Exchange Commission for accounting fraud.”

Friday 1 July 2005

By THE ASSOCIATED PRESS

NEW YORK (AP) — A federal prosecutor in Manhattan has decided not to prosecute the Royal Dutch/Shell Group of Cos. for overstating oil and gas reserves, officially ending a Justice Department probe of the company.

U.S. Attorney David Kelly announced Wednesday he had concluded that ”a criminal prosecution of Shell would not serve the public interest at this time.”

Kelly credited the world’s third-largest publicly traded oil company with cooperating with an investigation launched last year after it disclosed it had overstated its proven oil and natural gas reserves by 4.47 billion barrels, or about 23 percent, from 1997 through 2002. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

THE TIMES: David Kelley, US attorney for the southern district of New York, has decided not to prosecute Shell

THE TIMES: David Kelley, US attorney for the southern district of New York, has decided not to prosecute Shell

Friday 1 July 2005

By Robert Cole

Commentary

IS THIS an odd abrogation of judicial duty or an uncharacteristic outbreak of common sense? David Kelley, US attorney for the southern district of New York, has decided not to prosecute Shell, the Anglo-Dutch oil company, for the way it overstated its hydrocarbon reserves.

It would, he says, cause excessive disruption to the company. Culprits do need to be held to account.

But Mr Kelley should be applauded for resisting the temptation to set spurious legal duty over common sense. Shareholders, victims already, would be further damaged by litigation. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

US prosecutors help Shell close chapter on reserves scandal

Daily Telegraph: US prosecutors help Shell close chapter on reserves scandal

Friday 1 July 2005

By Christopher Hope, Business Correspondent (Filed: 01/07/2005)

Shell will not face charges from United States prosecutors after the oil and gas giant admitted last year that it had over-exaggerated its proven reserves by a quarter.

However the US Department of Justice said it was “still evaluating” the case against individual directors involved.

The scandal resulted in the resignations of Sir Phil Watts, chairman and Walter van der Vijver, head of exploration and production. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell looks to put scandal behind it with settlements

THE TIMES: Shell looks to put scandal behind it with settlements

Friday July 01, 2005

By Carl Mortished

SHELL is seeking to settle class action lawsuits brought against the company and its former directors after last year’s revelation that the company had overstated its proven oil and gas reserves.

Shell received a boost yesterday when the US Department of Justice said that it would not prosecute the company. “Criminal prosecution of Shell would not serve the public interest,” said David Kelley, US attorney for the southern district of New York.

Mr Kelley cited Shell’s cooperation with the inquiry, its remedial efforts and the payment of a $120 million (£67 million) fine to the US Securities and Exchange Commission. “The public interest has been sufficiently vindicated,” he said. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Financial Times: Shell backs African entrepreneur fund

Financial Times: Shell backs African entrepreneur fund read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Irish Independent: Standing up for their rights

Irish Independent: Standing up for their rights

Friday Jul 01, 2005

Sir – It is with great distress that I write to you with regard to the jailing of five men from Erris, in Co Mayo, based on a High Court ruling. They have been jailed due to the breaching of court orders preventing them obstructing the building of a gas pipeline owned by Shell, on land owned by the gentlemen in question. I find this decision incredible.

I believe these men are to be commended for their spirit and courage in the face of one of the biggest companies in the world. As we all know, the North-West is an area starved of investment and job creation by the Government, but the construction of a gas pipeline by Shell through two villages in a rural area is not the aid that people are looking for! There have been many important issues surrounding the building of this pipeline – namely, employment creation, gas supplies for Ireland, and environmental and construction issues. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Irish Independent: Supporters urged to punish firm

Irish Independent: Supporters urged to punish firm

Friday Jul 01, 2005

PROTESTERS who picketed the Shell depot in Galway city yesterday called for a boycott of all the company’s products.

About 100 people staged the protest in support of the five jailed Mayomen.

Siptu official Padraig Campbell handed in a letter to the company in which the union called for the immediate freeing of the five.

He urged the public to indicate their support for the five men by refusing to buy Shell products. “People have a lot of purchasing power and they should use it to send out a message to companies like Shell.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

THE TIMES (UK): Protestors jailed

THE TIMES (UK): Protestors jailed

Friday July 01, 2005

News in Brief

Michéal Ó Seighin, 65, an Irish folk singer, was jailed by the High Court in Dublin for obstructing the laying of a gas pipeline on the Shell Ireland Corrib gas project in Co Mayo. Vincent and Philip McGrath, Willie Corduff and Brendan Philbin were also held indefinitely. The five say the pipeline will put lives at risk.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Business World: Relatives call for Shell boycott

Business World: Relatives call for Shell boycott

Friday, July 01 2005

(BizWorld)

Relatives of some of the five men imprisoned for breaching injunctions in the dispute over the construction of the Corrib gas pipeline have called for a national boycott of Shell and Statoil service stations.

Protesters also urged people to put pressure on the Government to withdraw permission for the development

Brid Ni Sheighin, a daughter of jailed protester Micheal O Seighin, read out a statement on behalf of the men, who were jailed on Wednesday for breaching a court order to stop obstructing work on the pipeline. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
%d bloggers like this: