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Posts on ‘June 11th, 2009’

Corrib Gas War: Is Shell skulduggery behind the sinking of an Irish fishing vessel by armed mercenaries?

By Alfred and John Donovan

The Irish Times has today published the dramatic news of the sinking of an Irish fishing vessel allegedly by armed mercenaries who boarded and scuttled the Iona Isle owned by Pat O’Donnell, a local fisherman with over thirty years experience in the waters off the coast of Ireland.

It is assumed Mr O’Donnell was targeted as he is one of the loudest objectors to Shell’s Corrib Gas Project. As a fifth generation fisherman he claims his livelihood will be crippled by pollution from the corrib project into Broadhaven bay. Determined to protect the waters for future generations of fishermen, Mr. O’Donnell has consistently refused to be paid off by Shell.  Last year he refused to sign an agreement between Shell EP and a local fishermen’s association meant to facilitate the laying of the offshore Corrib gas 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.

Shell incidents under investigation

Last Updated: Thursday, June 11, 2009, 15:09

LORNA SIGGINS, Western Correspondent

Gardai have confirmed that they will investigate the circumstances surrounding the sinking of a fishing vessel off Erris Head in the early hours of this morning.

Two men were rescued from a liferaft and taken to Castlebar general hospital, where they were later released.

Shell E&P Ireland said in a statement issued to RTÉ that it “emphatically rejected” any allegation that “people employed on the Corrib gas project were involved in any way in the incident which led to the sinking of the Iona Isle ”. 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/Sakhalin Energy blame Exxon/BP/Rosneft for threat to endangered whales

Oil and gas exploration by energy giants Exxon, BP and Rosneft is seriously threatening one of the world’s most critically endangered whales, according to a panel of top scientists in a new report. The Western Gray Whale Advisory Panel (WGWAP), composed of 11 scientists and representatives from Shell and Sakahlin Energy...

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.

Don’t forget the other recent Shell management humanitarian gesture: “the largest securities fraud settlement ever reached in Europe”

 

 Dutch Appeals Court Orders Royal Dutch Shell to Begin Paying $450 Million Settlement to Pan-European/Global Investor Group AMSTERDAM, THE NETHERLANDS (May 29, 2009) – Officially approving the largest securities fraud settlement ever reached in Europe, a Dutch appeals court has ordered Royal Dutch Shell plc. to begin payment of $450 million to a foundation representing a group of institutional investors from seventeen European countries, plus Canada and Australia. 
The binding declaration was issued by the Amsterdam Court of Appeals, which in April 2007 agreed to serve as a forum for the investor group and Shell to work together in reaching a settlement of securities fraud claims stemming from the oil giant’s inflation of its proven oil and gas reserves during the years 1997-2003. 

The agreement – which has grown to include more than 150 public pension funds in Europe, North American and Australia- is a particular milestone for European investors, given that European courts lack a class action mechanism for pursuing securities fraud claims. Under a relatively new statute never previously applied to a securities case, Dutch law allowed the Amsterdam appellate court to accept a collective resolution as long as both sides agreed, even in absence of a civil lawsuit.

The $450 million settlement covers all non-U.S. purchasers of Shell stock obtained on European securities exchanges – principally London and Amsterdam – during the period of Shell’s allegedly illegal energy reserve accounting. The pension funds leading the settlement represent millions of public and trade-based employees across Western Europe, including: The Netherlands; United Kingdom, Scotland, Ireland, Germany, Sweden, Luxembourg, France, Denmark, Austria, Belgium, Finland, Italy, Liechtenstein, Spain, Switzerland and Norway.

Under the settlement, Shell is making its payment to a foundation specifically created to petition the Court of Appeals on behalf of the investor group. Leading U.S. securities and corporate governance law firm Grant & Eisenhofer represents both the special purpose foundation and the pension funds, which held in excess of one billion shares of Shell during the years the company exaggerated its reserves.

As a result of the extended inflation of its energy reserves, Shell was forced to issue multiple large financial restatements beginning in 2004. Estimates are that over the six-year period covered by the case, Shell overstated more than $100 billion of future cash flows, based on billions of barrels of oil that were not actually held in its reserves.

“We are pleased that the Amsterdam Court of Appeals has issued its final approval on this historic settlement, which represents a watershed outcome for European and other non-US investors in gaining substantial, collective recovery in one of the most high-profile securities cases in recent years,” saidJay Eisenhofer, co-managing partner of Grant & Eisenhofer.  
“It is important that investors have a proper mechanism and forum for pursuing securities claims in European courts – the Amsterdam Court of Appeals has done a tremendous service for advancing shareholder rights in its handling of the Shell case,” he added. “This was a uniquely European resolution in the context of a securities fraud, but one that can present huge implications in other disputes going forward.”

Note: Grant & Eisenhofer P.A. represents institutional investors and shareholders internationally in securities class actions, corporate governance actions and derivative litigation. The firm has recovered more than $12 billion for investors in the last five years. G&E has also been selected among The National Law Journal‘s “Plaintiffs’ Hot List” for the past four years, and is a member of its Hall of Fame. Risk Metrics named Grant & Eisenhofer the Number 1 law firm in average shareholder recoveries in securities class actions in 2007 and 2008. For more information, visit www.gelaw.com.

 

News Contact: Allan Ripp
Email: [email protected]
Phone: 212-262-7477

SOURCE ARTICLE

royaldutchshellplc.com headline by John Donovan

 

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 seen interested in Sakhalin 3 project

Russia-InfoCenter – Moscow, Russia

10.06.2009

Royal Dutch Shell is interested in taking part in development of Sakhalin 3 project conjointly with Russian Gazprom, the spokesman for the Shell’s office in Russia said. Besides, he noted, that the company is also holding negotiations on cooperation in the number of projects with Rosneft.
      
Earlier Gazprom’s spokesman reported that licenses for exploration and development of three blocks of Sakhalin 3 project were at the preparatory stage. Both, Gazprom and Shell have experience of collaboration within Sakhalin 2 project.  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.

Disgusting cynicism: this article by Malcolm Brinded summed up in two words

guardian.co.uk home

It is time to move on

Shell’s decision to settle is not about guilt but to help the Ogoni people and boost reconciliation

This week’s settlement is not so much about an ending. I hope rather it is the start of something new for the Ogoni people as well as for Shell in Nigeria. Settling out of court was not a comfortable or soft option. We wanted an opportunity to prove our innocence and we were ready to go to court.

We knew the charges against us were not true. And we were confident that the evidence would have shown this – that Shell was not responsible for the tragic events of 10 November 1995. The execution of nine leaders of the Ogoni tribe shocked us all. And we wanted others to see and understand that too. 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 Pressing On With Gladstone LNG, Open To Consolidation

SYDNEY (Dow Jones)--Royal Dutch Shell PLC (RDSB.LN) says it's open to consolidation with rival liquefied natural gas projects in Queensland state but is pressing ahead with plans for a terminal on its own.

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 Service Station to Fill Tanks With Ethanol

June 10 (Bloomberg) -- Royal Dutch Shell Plc, Europe’s largest oil company, said one of its service stations in Canada will become the first in the world to fill tanks with gasoline that contains advanced biofuel made from wheat straw.

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.
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