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Posts on ‘April 12th, 2010’

Shell urges investors to reject oil sands vote

Reuters UK

Mon Apr 12, 2010 5:32pm BST

LONDON, April 12 (Reuters) – Royal Dutch Shell Plc (RDSa.L) told investors to reject a shareholder motion tabled for its Annual General meeting next month which would require the oil major to review its multi-billion dollar investments in Canada’s oil sands.

Religious and environmental shareholders oppose Shell’s oil sands activities because this form of oil production uses more water and emits more carbon dioxide than pumping traditional crude.

The groups say growing concerns about climate change could lead to high charges for emitting CO2 that would make oil sands projects unprofitable. 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 fights shareholders’ campaign for oil sands review

guardian.co.uk home

• Investors table special resolution prior to May meeting
• Campaigners argue project is an environmental liability

Tim Webb: Monday 12 April 2010 21.29 BST

A group of institutional investors want Shell to review the commerical and environmental viability of its oil sands project. Photograph: John Vidal

Shell has dismissed shareholder calls for a review of its controversial oil sands developments.

A group of institutional investors, led by campaign group FairPensions, had tabled a special resolution ahead of the Anglo-Dutch company’s annual meeting next month. They want Shell to review the commercial and environmental viability of going ahead with its new projects in Canada’s boreal forests. 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.

Royal Dutch Shell participation in price fixing cartels

“Shell’s fine was increased by 50 percent because of its involvement in previous cartels and another 50 percent for instigating and leading the cartel.”

SHELL’S CARTEL TRACK RECORD

Anyone familiar with the history of Royal Dutch-Shell knows that the success of the oil giant was founded from the outset on a platform of price fixing. Below is some of the evidence from 1977 onwards. We will later this year publish evidence of its unscrupulous activities in this regard stretching back to its foundation.

An article published by The New York Times in September 1977 reported that legal proceedings had been brought against General Atomic Company and its joints owners, the Gulf Oil corporation and Scallop Nuclear Inc., part of the Royal Dutch Shell Group. The complex case involved allegations of price fixing of uranium as part of a secret cartel. According to a related article in Time Magazine, it was “one of the largest and most complex corporate lawsuits ever filed in an American court-a $2 billion-plus action by a New Mexico uranium mining company, United Nuclear Corp., against General Atomic Co., a 50%-owned subsidiary of Gulf Oil Corp., for fraud, coercion and breaches of the nation’s antitrust laws.” A New York Times article published on 2 January 1978, said: “Gulf and a subsidiary of the Royal Dutch-Shell Group are equal partners in General Atomic” and that Gulf conceded that its subsidiary had been involved in a uranium cartel. Time magazine reported in June 1978: “Gulf is also enmeshed in a web of lawsuits growing out of allegations that it secretly participated in a worldwide cartel to manipulate supplies and raise the price of uranium. Last week the company pleaded no contest in the U.S. Government’s case growing out of the cartel arrangement…”. A New York Times article in September 1980 reported that a New Mexico state court had rendered a default judgment against General Atomic on the grounds that it had refused to supply certain information during the discovery process. In May 1981, a New York Times article reported a settlement of the “international uranium cartel” case. 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.

Royal Dutch Shell false reporting, fictitious sales, fictitious trades and manipulation of natural gas prices

According to a Reuters article: “In 2004, Shell’s U.S. gas and power trading arm Coral Energy paid $30 million to settle charges it reported fake natural gas trades. Coral did not admit or deny wrongdoing.” On 30 July 2004, The New York Times published a related article under the headline: “Shell to Pay $150 Million In Settlement On Reserves”. The last paragraph turned to a different subject, stating “Separately, the Commodity Futures Trading Commission said on Thursday that Shell’s energy trading unit, Coral Energy Resources, had agreed to pay $30 million to settle accusations that it submitted false price data to publishers. The case is part of the commission’s industry-wide investigation into suspected manipulation of the energy markets.” The previous day, 29 July 2004, the U.S. Commodity Futures Trading Commission released a press statement headlined: “CORAL ENERGY PAYS $30 MILLION TO SETTLE U.S. COMMODITY FUTURES TRADING COMMISSION CHARGES OF ATTEMPTED MANIPULATION AND FALSE REPORTING”. The opening paragraph said: “The U.S. Commodity Futures Trading Commission (CFTC) announced today the issuance of an administrative order (order) initiating and simultaneously settling charges of false reporting and attempted manipulation of natural gas transactions by Coral Energy Resources, L.P. (Coral).” The findings in the order included “from at least January 2000 through September 2002, Coral reported false, misleading or knowingly inaccurate natural gas trading information, including price and volume information, to certain price reporting firms such as Inside FERC’s Gas Market Report, and Natural Gas Intelligence” and that “Coral attempted to manipulate natural gas prices by delivering trade information to the price reporting firms with the intent to affect the market price of natural gas. The order finds that Coral reported information about trades that never occurred, altered price and volume information for certain trades, and failed to report some actual trades, all with the intent to affect the market price of natural gas.” 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.

Royalty Rip-Off

NEW YORK TIMES Editorial

A version of this article appeared in print on April 12, 2010, on page A24 of the New York edition.

A sloppily written law passed by Congress 15 years ago has cost the country several billion dollars in lost oil royalties in the Gulf of Mexico and threatens to cost the country billions more. Representative Edward Markey has been trying, without success, to fix the law. He argues that the profit-rich oil companies are absconding with money that rightly belongs to American taxpayers.

The Massachusetts Democrat is submitting a new bill to right this wrong. It smartly seeks to leverage President Obama’s promise to open up selected coastal waters to offshore exploration by insisting that these oil companies start paying royalties on all of their existing leases before receiving any new leases. 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.

Iraq Finances Hamper Shell Gas Project

THE WALL STREET JOURNAL

APRIL 12, 2010

By HASSAN HAFIDH

A six-month extension of negotiations proposed by the Iraqi government to develop domestic gas infrastructure in the country’s south may not be enough to settle a deal with Royal Dutch Shell PLC because of financial constraints and opposition from politicians, an Iraqi official familiar with the talks said Monday.

“I don’t think we would be able to sign a deal even with the new six-month extension,” the official told Dow Jones Newswires. “Our main problem is that we are unable to secure finance for the Iraqi contribution in the venture.” 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.

Alarm over Alleged Plot to Attack Shell Facility in N’Delta

JTF Raises Alarm over Alleged Plot to Attack Shell Facility in N’Delta

From Segun James in Yenagoa, 04.12.2010

The Joint Task Force (JTF) on the Niger Delta, Operation Restore Hope, has raised alarm on plans to attack oil facilities belonging to the Anglo-Dutch oil giant, the Shell Petroleum Development Company.

The JTF in a statement by Lt Col TO Antigha, Coordinator Joint Media Campaing Centre warned those “ behind the plot to abandon the idea immediately in their interest and that of the nation.”

The interventionist agency made it clear that the “declaration of general amnesty and other measures taken by the Federal Government to consolidate the gains of the amnesty programme have not in any way diminished the vast capacity and capability of the JTF as a military outfit.” 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.
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