Oslo-based StatoilHydro ASA and Royal Dutch Shell Plc of The Hague postponed investments in Canadas oil sands this year after tumbling prices reduced potential profits.
December, 2008:
OPEC Clashes With Goldman on $75 Oil as Demand Slumps
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.
Oil shale remains in the crosshairs
Boyd added that the company does not speed up and slow down its oil shale research development based on the short-term fluctuations on the price of oil, which has been plunging to lows not seen for years. Shell currently holds three 160-acre oil shale research and development leases in the Piceance Basin. American Shale Oil and Chevron both hold one.
McKerrow residents launch multi-million dollar law suit against Shell and other parties
The class action suit names Shell Canada Products...
Oil companies are hitting the pause button
Royal Dutch Shell indefinitely postponed a decision on expanding its operations in Canadas oil sands.
Application for modified Shell pipeline withdrawn
SHELL EP Ireland has withdrawn its planning application for a modified onshore pipeline for the Corrib gas project.
Winds of change
Royal Dutch Shell has quit the UK altogether after pulling out of its two remaining projects London Array being one of them in recent months. James Smith, chairman of Shells UK business, told The Sunday Times: When we think about renewables in the UK, it is going to be biofuels rather than wind.
Shell Dutch pension fund has fallen into deficit
The Times
Royal Dutch Shell A fell 49p to £17.50 after reports its Dutch pension fund has fallen into deficit
Royal Dutch Shell A fell 49p to £17.50 after reports that its Dutch pension fund has fallen into deficit, with stock market turmoil knocking 40 per cent off its value.
THE SHELL PENSION FUND LETTER WHICH HAS MADE NEWS AROUND THE WORLD
All in all, the total value of the Pension Funds investments has declined by some 40% since the start of this year.
Shell’s pension underfunded, contributions must rise
The fund said in a letter sent to its members this week that its funding ratio -- a measure of how well a pension scheme can meet its liabilities -- was 85 percent at the end of November, down from 180 percent at the end of 2007. A full copy of the letter is published on activist website royaldutchshellplc.com.
Will Voser close Shell Centre? Dont bet against it!
New top men in Shell, at least in recent times, have wanted to do something to imprint their style and authority on the organisation. From Cor Herkstroter onwards successive CEOs have talked of change, usually with buzz words like transformation. In the 1990s and into the new millennium the argot at the top often talked about New Shell and Old Shell with those of us with thirty years or more service often being seen as prehistoric relics of the Old Shell era. New Shell was to be different. Lighter on its feet, more responsive to the world around and, above all, less burdened with unnecessary costs. When this type of imperative comes from the top then there can be only one result ruthless cost-cutting measures in the middle and the lower tiers of the organisational hierarchy. It was this ideology which led inexorably, in the downstream, to the reduction of staffing in operating company offices around the world and the greater centralisation of decision-making. Death by a thousand cuts.
Shell ordered to make up pension shortfall
PLUNGING equity markets have seen the total assets of Royal Dutch Shell's Dutch pension fund fall below the level required by Holland's central bank, De Nederlandsche Bank (DNB).
Canada Oil Sands Output Forecast Cut on Project Delays
Even sector heavyweights such as Royal Dutch Shell PLC have been affected: the Anglo-Dutch major is holding off on around 200,000 barrels a day of extra capacity in an effort to cut costs
Shell pension scheme value falls 40%
FT: The letter was published by royaldutchshellplc.com, a website used to air complaints against Shell. The letter said that its assets were 70 per cent invested in equities and there was an above average allocation to emerging markets, both sectors that have suffered badly in the downturn.
Shell’s pension underfunded
International Herald Tribune: Royal Dutch Shell's Dutch pension fund has fallen into deficit as share market turmoil knocked 40 percent off the fund's value, forcing the oil major and employees to increase contributions
Shell’s Dutch pension fund tumbles by 40pc
Plunging equity markets have seen the total assets of Royal Dutch Shell's Dutch Pension Fund fall below the level required by Holland's central bank, although the company's UK pension scheme remains fully funded.
Shell declines to say if other Shell pension funds in the UK or elsewhere are also in deficit
Shell's pension fund has commissioned a report to establish if its long-term strategy needs changing and will submit a recovery plan to the Dutch Central Bank, which is also the country's pension regulator, next year.
Leaked Shell internal email announces departure of senior Shell Executive, Greg Hill
I can assure you that this was an extremely difficult decision, and I want to also assure you that this has nothing to do with unhappiness with Shell or lack of confidence in the company, its direction, or leadership.
Shell Pension Fund scandal revealed on royaldutchshellplc.com makes global news
The drop in ratio is a result of the fund's focus on equities and the fund said it would now decrease its share investments and shift into government bonds to reduce risk, the letter, seen by Reuters, said. A full copy of the letter is published on activist website royaldutchshellplc.com.
Shell Pension Fund In Deficit After Equity Market Fall -Co
LONDON -(Dow Jones)- Royal Dutch Shell PLC's (RDSB.LN) pension fund has fallen into deficit after the big drop in global equities markets caused by the financial crisis and economic downturn, a spokesman for the company said Friday.
Shell pension funding level drops below legal limit
The total value of the pension funds investments plummeted 40% since the start of this year. At the same time, lower interest rates resulted in a significant increase in the pension obligations.
Shell pension underfunded
Fri Dec 12, 2008 2:05pm GMT: LONDON (Reuters) - Royal Dutch Shell's Dutch pension fund has fallen into deficit as share market turmoil knocked 40 percent off the fund's value, forcing the oil major and employees to increase contributions.
Shell Niger Delta File Shows Legacy Of Broken Promises
LONDON (Dow Jones)--A Royal Dutch Shell PLC (RDSB.LN) venture's internal review reveals a history of unfulfilled promises to communities in the Niger Delta, with 766 pledged development projects by the company either unfinished or never started.
Email to Richard Wiseman, Chief Ethics & Compliance Officer, Royal Dutch Shell Plc: Alarmed Shell Pensioner
Since you have kindly recently answered questions raised by me on other subjects, I feel sure you will want to deal with this matter which is of great concern to Shell pensioners. You might also wish to comment on the related posting by former Shell exec Mr Paddy Briggs.
Alarmed Shell Pensioner
And Mr. Donovan, you seem to have a direct line to Wiseman. Perhaps you could ask him to confirm or otherwise the rumour I have picked up a few weeks ago that Shell in this credit crisis has borrowed money from the Pensionfund or made the Pensionfund invest in some projects. If that is correct, I would like to see the opinion of Mr Wiseman on the ethics of this. No doubt it is within the law, but is it ethical?
Shell pension underfunded, contributions to rise
LONDON, Dec 12 (Reuters) - Royal Dutch Shell Plc said its Dutch pension fund had fallen into deficit as share market turmoil knocked 40 percent off the fund's value, forcing the oil major and employees to increase contributions.
Shell Dutch Pension Fund Underfunded: Triggers Notification to Dutch Regulator of Pension Funds
LETTER FROM SHELL NETHERLANDS TO SHELL DUTCH PENSIONERS…
11 Dec 2008
The financial crisis that started in the United States last year has gained considerable momentum during the last few months and has spread around the globe. Many financial institutions have run into trouble, leading to various rescue measures by national governments including nationalisation, but also bankruptcy. The value of listed equities and other asset classes has fallen dramatically worldwide. As a consequence, pension funds too have been impacted.
The financial position of the Dutch Shell Pension Fund
Shell Dutch Pension Fund Falls Below Legal Reserve Ratio
More pension funds in trouble
Friday 12 December 2008
Shells Dutch pension fund has fallen below the legal reserve ratio of 105% to 85%, the Telegraaf reports on Friday, quoting BNR radio. The claim is based on a letter to Shell employees, the radio station said.
A reserve ratio of 100% means the fund has sufficient assets to meet all its pension obligations.
The Shell pension fund regulation includes an agreement that if its reserves are below 105% for six months, the company must shore up its assets. Some staff also face higher premiums next year, the paper says.
Sakhalin II operator begins oil exports via new terminal
YUZHNO-SAKHALINSK, December 12 (RIA Novosti) - Sakhalin Energy launched year-round oil export deliveries on Friday via a new oil terminal as part of the Sakhalin II oil and gas project off Russia's Pacific Coast, the company said in a statement.
Global oil demand to fall for the first time in 25 years
The Opec oil cartel may be forced to cut production by as much as 3m barrels a day as global oil demand is set to contract for the first time since 1983 this year, the International Energy Agency (IEA) said.
US and Japan lead global cut in oil consumption
World oil demand is set to fall this year for the first time in 25 years as a broadening economic recession undermines energy consumption.
Similarities between Shells activities on Sakhalin Island and its current strategies in the Alaskan Arctic
POSTING ON “SHELL LIVE CHAT” BY : 11 December 2008
A quote from the blog at www.pacificenvironment.org/blog/ “We are struck time and time again by similarities between Shells activities on Sakhalin Island and the companys current strategies in the Alaskan Arctic. Shell could easily write a textbook on how to break promises, give and take bribes, buy off scientists, employ divide and conquer tactics with local opposition, and emasculate environmental assessment processes.”
Email to Richard Wiseman, Chief Ethics & Compliance Officer, Royal Dutch Shell Plc: The Plight of Shell Pensioners
I would like to draw your attention to postings made today on our website in relation to Shell Pensioners.
Canada’s ‘dirty oil’ challenge
"I think eventually, when all the studies are complete, we should be able to conclude that the tar sands industry is creating an environmental catastrophe"
M&A or A&E? Crisis to dominate dealmaking in 2009
Bankers and executives say that situation presents opportunities for cash-rich suitors including oil majors, such as Exxon Mobil Corp, Royal Dutch Shell Plc, BP Plc and Total SA .
Shell Live Chat Posting by a disillusioned Shell Pensioner
POSTING ON “SHELL LIVE CHAT” BY A SHELL PENSIONER, Thursday 11 December 2008
I just received a letter from Shell Pensionfund (dutch) that the coverage has dropped to 85% (Dutch legal limit is 105%). About a year ago it was around 170% I believe.
Some amateurs have been gambling with the fund and now there is a huge shortfall. I still have the letters of the past where they were congratulating themselves with the good management and strategies… And no doubt cashing in big bonusses. Why did nobody convert shares to bonds when there was this enormous surplus? That would be good husbandry. But like other Shell functions, it always has to be better and more.
BP’s hopes for China oil growth
BP, Europe's biggest oil group after Royal Dutch Shell, has invested $4.6bn (£3.1bn) in China, but like other western oil companies including Shell, ExxonMobil of the US and France's Total has made only limited progress.
Nigeria gas issue flares up
Royal Dutch Shell -- the largest foreign firm operating in Nigeria -- and other companies operating in the oil- and gas-rich Niger Delta claim, however, that they cannot comply with protocols calling for an end to the practice by the end of the year because of the continuing violence in the region, which they say prevents them from installing the required infrastructure to curtail flaring.
Shell says early EU action needed to tackle climate change
Sir, Reaching a global agreement on the replacement for Kyoto is critical to helping address climate change. We strongly urge Gordon Brown to continue to press for a robust and effective European Union climate change package ahead of the European Council meeting this week.
Royal Dutch Shell completes sale of dominican refinery
As part of an ongoing strategy of portfolio management, Shell Petroleum NV (Shell) has successfully completed the sale of its 50% shareholding in Refineria Dominicana de Petroleo, S.A.
BAE Arms Contract Bribes Under Investigation in 7 Countries (*Shell at the heart of Al-Yamamah oil-for-arms scandal)
Allegations of bribery by BAE to secure arms contracts are now under investigation by the authorities of seven countries, plus the Organisation for Economic Cooperation and Development which holds oversight authority over international commitments on corruption. BAE executives have even been detained in the United States for questioning by the Federal Bureau of Investigation.
Let Big Oil bail out Big 3 Auto Companies
A Google search of the most recent financial information from the major oil companies shows ExxonMobil alone with a stash of $34 billion. Chevron had cash on hand of $10 billion, Shell of $7.8 billion, BP America of $9.8 billion (at the end of 2007). It sounds like plenty to go around to give the Big Three a helping hand.
U.S. predicts fall in global demand for oil in ’08, ’09
Battered by the global economic crisis, world oil demand will fall in 2008 for the first time since 1983, said a U.S. government forecast. It also predicted demand will fall again in 2009.
Shells Routs: On Diesel, Algae, and OPEC
Mr. Routs talked with the WSJs Neil King about the worlds thirst for oil, the challenges facing Detroit and the U.S. transportation sector, and where oil prices are heading.
Shell says ‘no’ to U.S. pressure over Iran
Royal Dutch Shell is to continue preparatory work on a $10 billion natural gas project in Iran, despite calls from leading U.S. pension funds to withdraw, SHARECAST reported from London on Thursday.
Global demand for oil to plummet
Global oil demand will collapse next year and commodities will not return to the highs they reached this summer in the foreseeable future, two authoritative reports said on Tuesday as they forecast a long and painful worldwide recession. The stark conclusions came as the World Banks chief economist predicted that the world faced the worst recession since the Great Depression.
NedPower Mount Storm Wind Project Completed
Dominion and Shell WindEnergy Inc. announced today the completion of the NedPower Mount Storm LLC wind energy project in which they each own a 50% interest. Sited along the high ridges of West Virginia, the project is now fully operational, generating up to 264 megawatts of electricity from a renewable energy source for the mid-Atlantic power grid.
Shell ramping up Gulf of Mexico output after Ike
NEW YORK, Dec 9 (Reuters) - Shell Oil said it continued to ramp up Gulf of Mexico oil and gas production shut for hurricanes Gustav and Ike this past October.
Shell ramps up Gulf of Mexico production
HOUSTON: Current Shell operated production from the Gulf of Mexico is now over 400,000 BOE/d, while Shell's net production, including both operated and non-operated production, from the region is around 310,000 BOE/d.
The Bountiful Bribes From BAE (*Shell was at the heart of the BAE/Saudi scandal)
BAE also got into trouble for paying similar size bribes to Saudi Arabian officials to facilitate a deal for Eurofighters. When British investigators sought to prosecute BAE, the Saudis threatened to cut off counter-terrorism cooperation if the British investigators did not back off. The British government ordered the prosecution halted.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
MORE DETAILS:
A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
