The U.S. has passed legislation which makes it illegal for non-U.S. companies to invest more than $20 million a year in any projects in Iran. Any companies that break this rule face fines on their U.S. earnings.
May 12th, 2008:
Shell Exits Iran, For Now
Nigeria: U.S. Probes Oil Industry Payments
The US investigation into Halliburton's Nigerian operations - covering a period when the company was headed by Dick Cheney, US vice-president is said to have uncovered evidence of bribery and is now looking at a range of payments made in a number of countries over the past 20 years, according to the company. Shell said it was aware of the Halliburton filing and was "looking into the matter".
Shell Ghana helps save HIV infected children
Shell Ghana Limited has in fulfilment of its desire to cater for the needy and support the efforts of organisations working to bring relief to the needy, donated ten thousand Ghana Cedis (GH¢10,000) for the provision of antiretroviral drugs and care for children infected with HIV in Ghana.
The End of OPEC
Churchills assessment applies to the current oil situation: this is the beginning of the end of OPEC. That much is obvious; the more interesting question is why?
Royal Dutch Shell pulls out of $10bn Iran project
Royal Dutch Shell has apparently caved into political pressure from the US in backing out of a $10 billion gas project in Iran.
Tax evasion by Royal Dutch Shell and other multinational corporations ‘costs lives of 5.6m children’
Christian Aid says that the extent of tax abuse "is so widespread and damaging that it is tantamount to a new slavery...
"The inescapable fact is that there are only four reasons for banking 'offshore': to avoid tax, to evade tax, to function in secret, to sidestep regulations controlling financial services or monopolistic practices. In each scenario, the pursuit of profit outweighs all other considerations, including good citizenship and social responsibility".
Oil Traders May Face New Scrutiny Under U.S. Bill
Oil traders may be in for tougher oversight: Senate Democrats are seeking to crack down on speculation in an overseas market that has come to play a major role in oil trading in a little more than two years.
Shell, for Now, Pulls Out Of Iranian Gas Project
THE WALL STREET JOURNAL: Royal Dutch Shell PLC dropped out of a preliminary deal to join an Iranian natural-gas project, although it is looking at joining at a later stage, a company spokeswoman said. Shell's decision is likely to fuel speculation that the company has bowed to U.S. pressure.
Shell and Repsol drop Iran gas project
Royal Dutch Shell and Spains Repsol have pulled out of one of Irans biggest gas projects, dealing a blow to Tehrans attempts to expand its energy exports in the face of US and international sanctions.
Oil steady above $126
PERTH (Reuters) - Oil hovered close to record levels above $126 a barrel on Monday as violence in the Middle East heightened worries of supply disruptions in the world's largest crude producing region
Nigeria: Niger Delta – Financial Crisis Hits Shell
It was learnt that no fewer than 3,000 staff of the company might be laid off in a major re-structuring that will be announced by the company soon.
Shell Becomes First Company Worldwide To Receive ISO 21469 Certification
"Certification to ISO 21469 provides our customers with real proof that we take food safety seriously," said Shell Lubricants Food Sector Product Application Specialist, Eduard Stempfel.
Shell, Repsol quit Iran gas project – report
LONDON (Thomson Financial) - Royal Dutch Shell and Spain's Repsol YPFSA. have pulled out of one of Iran's biggest gas projects amid geopolitical uncertainty and rising costs, the Financial Times reported.