Lex (March 19) states Royal Dutch Shells announcement yesterday of an $8.3bn hole in its pension fund is a sign of the times. In fact Shell disclosed the underfunding quite clearly when it issued its 2008 results on January 29, though it was buried rather deep in the notes.
March, 2009:
Beady eye for the small print
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.
Theories of rational behaviour are facing crisis
Second, Shell is to spend an extra $5bn-$6bn on plugging its pension deficit. But Shell is nowhere near insolvent and its pension fund has decades to play with. The deficit figure may be interesting information for investors. Why it should require the diversion of much-needed cash flow right now is a different question.
Rouble rebound
The reason might be termed the "trust gap". Scared off by attacks on TNK-BP, Mechel and Royal Dutch Shell and by Moscow's continuing foreign policy prickliness, investors are in no hurry to return. Rebuilding trust may take longer than returning Russia's economy to growth.
Jorma Ollila: Champion of Nordic capitalism
Mr Ollila demonstrates his unflappable side when asked how Shell's recent decision to stop investing in wind and solar energy and only focus on biofuels plays to its values of trying to address climate change. "It is a business portfolio decision, above all. Not everyone can be a jack of all trades. It is more about pragmatism," he says.
Shoppers need clear labels to put a stop to ‘greenwash’
A complaint against Shell, which ran a newspaper advert depicting its refinery chimneys emitting flowers, was upheld by the advertising watchdog. Friends of the Earth complained about the advert, which ran with the slogan: "Don't throw anything anyway. There is no away."
Shell goes to paradise in search of cheap biofuel
Environmentalists fear that Shells efforts to go green could end up like Captain Cook on the shores of Kona left to die in the surf.
SHELL BRENT BRAVO SCANDAL: THE EVIDENCE ASSEMBLED BY BILL CAMPBELL: PLUS ASSOCIATED ARTICLES
FILE OF INFORMATION AND ARTICLES RELATING TO THE SHELL BRENT BRAVO SCANDAL INCLUDING EVIDENCE ASSEMBLED BY FORMER HSE GROUP AUDITOR OF SHELL INTERNATIONAL, MR BILL CAMPBELL
ExxonMobil and Shell have cornered the market on Western Slope water rights, study says
Estimates put the water requirements of an oil shale industry producing 1.55 million barrels of oil a day at 378,000 acre-feet per year, compared to the Denver metro areas consumption, which is less than 300,000 acre feet.
CNPC Suspends Talks With Chevron Over Oil-Field Stake
Chevron has a 60% interest in Big Foot. Norway's StatoilHydro ASA and Royal Dutch Shell PLC have stakes of 27.5% and 12.5%, respectively. A stake sale of 12.5% would reduce Chevron's holding to 47.5%.
India’s IOC, Shell eye Reliance pumps stake -paper
MUMBAI, March 20 (Reuters) - Indian Oil Corp (IOC.BO) and the Indian unit of Royal Dutch Shell (RDSa.L) are front runners for buying a 50 percent stake in Reliance Industries' (RELI.BO) retail fuel business, the Economic Times said on Friday.
Iraq Considers Giving Foreign Oil Investors Better Terms
Foreign companies could own as much as 75 percent of the new ventures, the officials said. In its negotiations with dozens of international companies, including Exxon Mobil and Royal Dutch Shell, Iraq had until now offered stakes of no more than 49 percent in new joint ventures to develop existing and new oil fields.
Shell dumps wind, solar and hydro power in favour of biofuels
Until recently, Shell's investment in wind power featured prominently in its corporate advertisements. FoE said the company's move heralded a slightly more honest approach. "Shell is at least being a bit more honest about the fact they are a fossil fuel company. It has seen the limitations of the greenwash it was putting out a few years ago."
Oil, Water Are Volatile Mix in West
"We're picking up properties as they become available or look strategic," said Tracy Boyd, a spokesman for Royal Dutch Shell PLC. Shell does not expect to need large quantities of water for at least 15 years, he said, and by then it may have developed less water-intensive ways to extract oil, perhaps using wind power.
Aramco to cut oil spending
Dozens of smaller oil companies, starved of cash and facing stiff financial constraints from low oil prices, have in recent months slashed project spending, though most big privately run oil firms, such as Royal Dutch Shell PLC, have maintained their spending plans for 2009.
Shell’s subtle switch from renewables to the murky world of ‘alternative’ energy
Shell’s spending on renewables except biofuel appears to have fallen from $200m a year to zero over the past nine years
Question time … the Royal Dutch Shell headquarters in The Hague. Robin Utrecht/EPA
So at last we have an explanation. During my video interview with Jeroen van der Veer, the chief executive of Shell, I asked the same question 15 times: “What is the value of your annual investments in renewable energy?”
After several attempts to change the subject, he admitted that he knew the figure, then flatly refused to reveal it. Nor could he give me a convincing explanation of why he wouldn’t tell me, claiming only that “those figures are misused and people say it is too small” and it “is not the right message to give to the people”.
Nigerian oil probe traps Shell in net
But it was news that a corruption probe into Nigeria's oil industry had been broadened to include Shell itself that spooked the market, sending its 'A' shares down 21p to 1619p.
Shell: Screw the environment, let’s get rich
Posted by christian on 18 March 2009.
Canadian tar sands – According to Shell, more profitable than wind or solar power. But at what cost to the environment?
We’ve got so used to big oil companies trying to use tiny investments in renewable energy as fig leafs for their core business of pumping oil, that in a way, an oil company just turning round and issuing a big ‘screw you’ to such pretensions might almost seen slightly refreshing, if only for the novelty value.Well, in theory. But it’s hard to read yesterday’s press statement from Shell without your heart sinking. With regards to wind and solar power, Shell said that they do “not expect material amounts of investment in those areas going forward. [Wind and solar] continue to struggle to compete with the other investment opportunities we have in our portfolio.”
With energy prices low, offshore bids cut by more than half
Still, some prospects received large bids in this year's sale: a subsidiary of Royal Dutch Shell put up $65.6 million, the highest single bid on a tract.
As Shell Raises Dividend, Future Gets Hazy
It's not only BP that is vulnerable. Standard & Poor's has warned that all the European supermajors -- BP, Shell, Total SA and ENI SpA -- could face ratings downgrades this year or next if oil's price doesn't recover.
Shell shapes $32bn production boost
Of the five "supermajor" international oil companies, Royal Dutch Shell has the worst production profile of the decade, with 2009 marking its sixth successive year of decline.
Shell pay packages defy poor stock performance
Royal Dutch Shell's senior executives were paid sharply higher remuneration last year, although performance in terms of shareholder returns was the worst of all big western oil companies.
Shell: positive news on the dividend is a reason to hold the shares
Questor attended Shell's strategy presentation on Tuesday and the messages were generally positive, especially for dividend seekers.
Shell says faces $8.3 bln pension hole
In December, Shell's Dutch pension fund told members it had fallen into deficit after share market turmoil knocked 40 percent off its value
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.
Tempus: Shell should ride out rough seas under its new Swiss captain
Happily for Mr Voser who narrowly escaped being tarnished by the 2004 scandal over Shells misreporting of reserves he will, when he takes over this summer from Jeroen van der Veer, inherit a business in much better shape than many of its rival oil supermajors
Shell Reports $8.3 Billion Pension Deficit, Plans Payments
March 18 (Bloomberg) -- Royal Dutch Shell Plc reported an $8.3 billion pension plan deficit for 2008 and expects to make significant cash contributions to pensions in addition to the regular annual contribution of between $1 billion and $2 billion.
Shell Lagged Behind BP in Replacing Reserves in 2008
March 17 (Bloomberg) -- Royal Dutch Shell Plc, Europes biggest oil company by market value, failed to match all of last years oil and gas production with new discoveries, in contrast to smaller rival BP Plc.
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.
UPDATE: Shell: Co Still Under Investigation By US DOJ, SEC
Panalpina said then that it was conducting an internal investigation and had been asked to provide documents to the Justice Department relating to services in Nigeria, Kazakhstan and Saudi Arabia for "a limited number of customers." In March 2008, Panalpina said an internal investigation indeed found indications of wrongdoing in the past at its Nigerian oil and gas service operations, and moved to extract itself from these.
Anger as Shell reduces renewables investment
John Sauven, the executive director of Greenpeace UK, said that Shell had rejoined the ranks of the dirtiest, most regressive corporations in the world ... After years of proclaiming their commitment to clean power, they're now pulling out of the technologies we need to see scaled up if we're to slash emissions.
Shell reveals $6bn pension hole as exec pay rises sharply
The filing also showed that Shells senior executives received sharply higher remuneration last year, even though its performance in terms of shareholder returns was the worst among the leading western oil companies.
Shell goes cold on wind, solar, hydrogen energy
LONDON (Reuters) - Oil Major Royal Dutch Shell Plc doesn't plan to make any more large investments in wind and solar energy in the future and does not expect hydrogen to play an important role in energy supply for some time.
Poor market delays completion of refinery expansion
Motiva Enterprises is delaying by more than a year the target date for completing a $7 billion expansion of its Port Arthur refinery due to poor market conditions, a company spokesman said today. Motiva, a joint venture between Shell Oil and Saudi Refining Inc., had planned to finish the project by late 2010, but now is aiming for the first quarter of 2012, Motiva spokesman Stan Mays said today.
Shell to Start Clyde Refinery in Next Few Months
March 17 (Bloomberg) -- Royal Dutch Shell Plc, one of Australias four oil refiners, expects its Clyde plant near Sydney to start operations in the next few months after being closed since November for maintenance.
Shell To Pay $10 Bln Of Dividends; Production Not Replaced
Separately, Shell in a 20-F filing said Van Der Veer's total pay, including salary and bonus, was $8.34 million in 2008. Brinded earned $4.14 million, Cook earned $3.87 million, the retiring Rob Routs earned $5.16 million and CFO Peter Voser earned $3.59 million.
Shell bribery probe overshadows plans to lift divi
Separately, Royal Dutch Shell said it was under investigation by US authorities about allegations it has breached overseas bribery rules. Shell is currently under investigation by the United States Securities and Exchange Commission and the United States Department of Justice for violations of the US Foreign Corrupt Practices Act, the company said in its 2008 annual report. Lawyers at Haynesboone who specialise in the Foreign Corrupt Practices Act said that companies that violate the act may be required to pay a fine of up to $25 million, or twice the gain obtained from the violation. 'The company may also be required to disgorge profits obtained from the violation. Additionally, settlement agreements with the government have commonly required companies to maintain, at their own expense, a corporate monitor to supervise the companys FCPA compliance program and report observations to the government,' according to a report from the law firm. It said a violation of the act can also lead to a companys debarment from future government contracts and a company may have its export license rescinded.
Shell offers reassurance on dividend policy
Shell also admitted in its annual report that it is under investigation by the US Securities and Exchange Commission (SEC) and the US Department of Justice (DoJ) for "violations of the US Foreign Corrupt Practices Act". The company said it is undertaking an internal investigation, but highlighted the risk of fines and additional costs. In the same report, Shell states that its Business Principles forbid, amongst other things, bribery, fraud and anti-competitive behaviour.
In July 2007, 11 oil and oil-service companies received a letter from the DoJ criminal fraud section asking them to detail their relationship with Panalpina, a Swiss-based logistics group.
A Shell spokesman said: "The Panalpina investigation disclosed on form 20-F is the same investigation that was disclosed in our last filing and we are co-operating with the DoJ and SEC."
Shell gearing up for difficult environment
A very interesting line from van der Veer: he has revealed that Shell does not plan any further investment in wind and solar power. Shell is focusing its renewables efforts on biofuels, where it is investing quite a lot in research into second generation fuels, so far without any commercial success.
More on the US Department of Justice investigation, which Shell was first made aware of in 2007. We have started an internal investigation, says Mr Voser. He adds that the DoJ is looking at payments done by Panalpina [a global freight forwarding company] to customs in Nigeria on our behalf.
Shell investigated by SEC over bribery claims
The probe relates to alleged payments made on its behalf to customs in Nigeria.
Shell wants to produce five times more oil from tar sands
The oil company admitted yesterday that it had been contacted about potential violations of the US Foreign Corrupt Practices Act, which could lead to fines. The issue surrounds the use of a freight-forwarding firm, Panalpina, and involves suspected bribery in Nigeria, Kazakhstan and Saudi Arabia.
Shell shares hit by news of US inquiry
Shares in Royal Dutch Shell are under pressure after it said it was being investigated by US authorities for possible breaches of bribery rules.
Coinciding with a strategy update, the company’s annual report reveals on page 16 that “Shell is currently under investigation by the US Securities and Exchange Commission and the US Department of Justice for violations of the US Foreign Corrupt Practices Act.
“Shell has an ongoing internal investigation and is co-operating with the US DoJ and the SEC investigations. While these US investigations are ongoing, Shell may face fines and additional costs.”
Shell says being investigated in US bribery probe
"Shell is currently under investigation by the United States Securities and Exchange Commission and the United States Department of Justice for violations of the US Foreign Corrupt Practices Act," the company said in its 2008 annual report.
March 2009 strategy update: building new heartlands, managing recession challenges
17/03/2009
As part of its annual review of strategy, Shell said it is continuing with plans to build new upstream and downstream capacity, while managing the near-term challenges of the global economic slowdown.
Shell is taking a prudent approach. Long-term oil and gas fundamentals remain positive, but the industry is facing a sharp downturn in energy prices at a time when costs are high by historical standards.
Jeroen van der Veer, Royal Dutch Shells Chief Executive, commented: These are testing times in the oil and gas industry. Whilst short-term measures are important, we keep our long-term perspective, and continue to believe that energy needs over the long term provide a positive context for Shells investment programmes today.
Falling revenues likely to put Shell’s plan for share buyback in limbo and debt into orbit
Gordon Gray, an oil analyst for Collins Stewart, said that a big increase in Shell's debt was inevitable while share buybacks were completely off the agenda. He predicted that Shell's net debt would rise from $8 billion in 2008 to as much as $23.9 billion this year - from a gearing level of about 6 per cent of its equity to nearly 17 per cent. He projected that Shell's net debt could peak next year at more than $30 billion, depending on how long oil prices remained depressed.
BG Gains on Deal for Pure Energy
While Arrow didn't say what it plans to do with its 20.3% stake in the group, analysts expect the Australian firm -- which is backed by Royal Dutch Shell PLC -- to sell its stake into BG's offer. Arrow wasn't available for comment.
Nigeria: Expatriates Take Over Sacked Local Workers’ Jobs in Shell
Last week, no fewer than 1,500 workers, consisting both regular staff and contract hands working for all affiliates of the group from its locations in Port Harcourt, Warri, Lagos and the Federal Capital Territory (FCT), Abuja, were served letters terminating their appointments.
Hackers target Shell customers
ONLINE hackers have stolen personal information from almost 6000 Shell customers in Australia and New Zealand.
Shell Perdido platform ‘topside’ erected in US Gulf
Floating in waters about 8,000 feet (2,400 meters) deep, Perdido, run by Shell for partners BP Plc (BP.L) and Chevron (CVX.N), is the deepest such project in the world, Shell said in a news release.
Gunmen attack Shell oil flow station in Nigeria
PORT HARCOURT, Nigeria, March 16 (Reuters) - Suspected armed militants in gunboats attacked an oil flow station, operated by Royal Dutch Shell (RDSa.L), in the southern Niger Delta early on Monday, a military spokesman said.
Corrib Gas Project: Meetings to take place with Royal Dutch Shell
Yesterday (Monday) Minister Eamon Ryan and Minister Éamon Ó Cuív announced that community representatives Pobal Chill Chomáin and Pobal Le Chéile will meet representatives of Shell E&P Ireland (SEPIL) and and its parent company Royal Dutch Shell at the Department of Community Rural and Gaeltacht Affairs in Dublin this Friday.
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.
