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Posts on ‘January 21st, 2013’

Will the shale-oil revolution sink Shell’s Arctic ambitions?

Alex DeMarban | Jan 20, 2013

Perhaps more important than the clamor of environmentalists, the grandstanding of politicians, or the blunders of Royal Dutch Shell‘s own making is how long oil prices will remain high enough to support Arctic exploration in northern Alaska’s Beaufort and Chukchi seas.

Not long, believes one analyst watching the clouds gather over the Lower 48, where a shale-oil boom and new railroad projects are expected to push more oil toward the same West Coast refineries where Alaska crude is processed. 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.

Simon Henry and the reserves time bomb

Were they aware that Simon Henry was a key player, as Head of Global Investor Relations, in dealing with the reserves data and actually had responsibility to ensure the quality/accuracy of the data before it was disclosed to analysts and investors? As we all know, it turned out that some of the data was not only inaccurate, but fraudulent. He had been warned that a Gorgon 600 million BOE reserves booking was an IR time bomb.

Introduction: A draft of the article below was supplied to Shell in advance, namely to Mr Michiel Brandjes, the Company Secretary & General Counsel Corporate of Royal Dutch Shell Plc and the CFO, Mr. Simon Henry. We invited Shell to point out any factual inaccuracy and/or supply comment for unedited publication with the article. No response other than an automated message has been received.

ARTICLE

By John Donovan

On 13 March 2009, the Financial Times published an article about Simon Henry, who was about to become Chief Financial Officer of Royal Dutch Shell Plc. It said that he had survived the reserves misreporting scandal with his reputation intact. I wonder how much investigation of the facts was undertaken before arriving at that conclusion? 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.

Nigeria’s Illegal Oil Refineries

Jan 15, 2013

Reuters photographer Akintunde Akinleye recently gained rare access to an illegal oil refinery near the river Nun in Nigeria’s oil state of Bayelsa. There, he was able to document the secret and dangerous practice of oil bunkering, where locals hack into oil pipelines, steal the crude oil, and refine or sell it abroad. For over 50 years now, crude oil and natural gas have been extracted from the Niger Delta by large corporations, which have had their share of environmental disasters. The ongoing damage from the tapped pipes and these makeshift refineries continue to take a terrible toll on the environment and the local population. 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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