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Posts on ‘October 23rd, 2012’

Tarnished Shell seeks to be born again

From our October 2004 Shell News Archive

The Independent On Sunday (UK): Tarnished Shell seeks to be born again

Tim Webb on the oil giant’s attempts to put scandal behind it and give itself a facelift: “Shell directors have spent the last year reading the newspapers about how bad they are,” he says. “The last thing they want to read is that they have failed again.”

24 October 2004

Shell is expected to outdo its rival, BP, when it announces higher third- quarter earnings this week. In fact, it has already earned more than BP this year, which isn’t bad for such a “troubled” company.

It underlines the fact that the Anglo-Dutch company has continued to perform financially despite spending most of the year mired in controversy. This is the same Shell which in the past six months has seen its chairman, exploration chief and finance director leave after a fifth of its proven oil and gas reserves were found to be wrongly booked. And it is the same company whose new chairman, Jeroen van der Veer, vowed last month at its annual strategy meeting: “Much more needs to be done. We are driving Shell to be a different company.” 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 Bribery and Corruption in Nigeria

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934 Release No. 63243 / November 4, 2010

ACCOUNTING AND AUDITING ENFORCEMENT Release No. 3204 / November 4, 2010

ADMINISTRATIVE PROCEEDING File No. 3-14107

In the Matter of
ROYAL DUTCH SHELL plc,

and

SHELL INTERNATIONAL EXPLORATION AND PRODUCTION INC.,

Respondents.

ORDER INSTITUTING CEASE- AND-DESIST PROCEEDINGS PURSUANT TO SECTION 21C OF THE SECURITIES EXCHANGE ACT OF 1934, MAKING FINDINGS, AND IMPOSING SANCTIONS AND A CEASE-AND- DESIST ORDER

A. SUMMARY

This matter concerns violations of the anti-bribery provisions of the Foreign Corrupt Practices Act (“FCPA”) by Respondent SIEP and the record keeping and internal controls provisions of the FCPA by Respondent Shell. From September 2002 through November 2005, SIEP, on behalf of Shell, authorized the reimbursement or continued use of services provided by a company acting as a customs broker that involved suspicious payments of approximately $3.5 million to officials of the Nigerian Customs Service in order to obtain preferential treatment during the customs process for the purpose of assisting Shell in obtaining or retaining business in Nigeria on Shell’s Bonga Project. As a result of these payments, Shell profited in the amount of approximately $14 million. None of the improper payments was accurately reflected in Shell’s books and records, nor was Shell’s system of internal accounting controls adequate at the time to detect and prevent these suspicious payments. 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 makes Nigeria production warning

By Jon Gambrell on October 23, 2012

LAGOS, Nigeria (AP) — Royal Dutch Shell PLC warned Tuesday that it won’t be able to make its estimated production for two types of oil pumped from Nigeria, largely blaming attacks on its pipelines by thieves wanting to steal crude.

Shell said in a statement it had declared a “force majeure” warning Friday for shipments of its Bonny and Forcados crude oil — meaning it is impossible for the company to cover the promised supply from the field. Those two types of crude represent a major chunk of the oil produced in Nigeria by Shell, long the dominant foreign oil company in the West African nation. 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.

Alberta First Nation wants to stop Shell Canada’s Jackpine mine expansion

By Marty Klinkenberg, Edmonton Journal October 22, 2012

EDMONTON – Backed by human rights organizations and conservation groups, the Athabasca Chipewyan First Nation will argue in Fort McMurray on Tuesday that it should be allowed to issue a legal challenge against Shell Canada’s proposed expansion of its Jackpine mine in northeastern Alberta.

In an appearance before the Energy Resources Conservation Board and Joint Environmental Review Panel, the First Nation will argue that the government has failed to meaningfully address the impact the development could have on the band’s traditional territory and is therefore in violation of its treaty rights. 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.

Russia ‘Off Limits’ to Big Oil After BP Wins Putin’s Approval

By Joe Carroll and Edward Klump on October 22, 2012

Now that BP Plc (BP/) has partnered with Russia’s Vladimir Putin to oversee the world’s second-biggest oil industry, other international energy companies such as Exxon Mobil Corp. (XOM) and Royal Dutch Shell Plc (RDSA) are facing dwindling access to one of the last untapped troves of crude.

BP’s agreement yesterday to sell its half of Moscow-based TNK-BP to Russia’s state-run oil company, OAO Rosneft (ROSN), for $12.3 billion in cash and almost one-fifth of Rosneft’s shares vaulted the U.K. energy producer to preeminence among foreign drillers in the Russian oil patch, said Pavel Molchanov, an analyst at Raymond James & Associates Inc. in Houston. 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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