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Posts on ‘May 20th, 2013’

Oil Bosses Covered in Mystery Substance

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Shell directors face up to 5 years in jail if guilty of price-fixing

Screen Shot 2013-05-17 at 01.06.41By John Donovan

Assessment of current situation in the price-rigging investigation partly based on an articled published today by The Lawyer today under the headline “All eyes on energy“:

  • Royal Dutch Shell is being advised by Clifford Chance in relation to the allegations of price-fixing.
  • Competition lawyers say that the investigation could be “bigger than Libor”.
  • If the allegations prove to be true, there is the prospect of unlimited fines and jail terms of up to 5 years for  directors.
  • There is an incentive of reduced sanctions dependent on the degree of co-operation i.e. turning informer.
  • Shell has confirmed that it is co-operating with the investigation.
  • Shell lawyers will have to decide whether to defend or continue to co-operate.
  • read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

    Groningen Exxon/Shell gas fields – the Dutch earthquake zone

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    By Anna Holligan BBC News, The Netherlands

    As earthquakes become more intense and more frequent in the north of the Netherlands, there is mounting pressure on the government to reduce the amount of gas being extracted there.

    It is a curse for thousands of inhabitants having to cope with the effects of living amid the Groningen gas fields – the largest in Europe.

    There exists a consensus among all parties – including the gas companies – that the process of extracting the gas is causing earthquakes, but the country is thriving on the proceeds. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

    You can’t be sure of seeing Shell’s AGM

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    If you couldn’t travel to the Hague to protest, you could always attend the live link-up in London. But now you can’t even do that

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    Rupert Neate: The Observer, Sunday 19 May 2013

    Angry about the oil giants allegedly fixing the price of petrol for more than a decade? You’ll have a chance to harangue Shell – its offices were raided by European Union officials investigating the claims last week – at its annual general meeting on Tuesday. But only if you get on a plane to the Hague.

    Royal Dutch Shell, the British part of which was founded by Lord Bearsted in 1897, has been regularly holding its meeting in the Dutch city most famous for trying war criminals. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

    EU oil price probe underlines flawed system

    FINANCIAL TIMES

    By Ajay Makan and Javier Blas in London: May 17, 2013 5:48 pm

    In simultaneous raids this week on the offices of the oil majors BP, Royal Dutch Shell and Statoil of Norway, and Platts, a leading price reporting agency that helps set energy benchmark prices, the European Commission has fired the starting gun on one of the biggest cross-country investigations into benchmark pricing since banks were caught red-handed…

    (THIS IS THE BEST ARTICLE WE HAVE READ EXPLAINING ABOUT THE INVESTIGATION AND HOW ENERGY BENCHMARK PRICES ARE SET) read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

    Secret papers ‘show how Shell targeted Nigeria oil protests’

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    Documents seen by The IoS support claims energy giant enlisted help of country’s military government

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    By Andy Rowell Sunday 14 June 2009

    Serious questions over Shell Oil’s alleged involvement in human rights abuses in Nigeria emerged last night after confidential internal documents and court statements revealed how the energy giant enlisted the help of the country’s brutal former military government to deal with protesters.

    The documents, seen by the IoS, support allegations that Shell helped to provide Nigerian police and military with logistical support, and aided security sweeps of the oil-rich Niger Delta. Earlier this month Shell agreed to pay $15.5m (£9.6m) in a “humanitarian settlement” on the eve of a highly embarrassing US lawsuit. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

    Selection of Shell related article links 19 May 2013

    Selection of Shell related article links kindly provided by a regular contributor

    If ‘everyone knew’ the oil market was open to rigging, why did no one The Guardian-It is worth spelling out that manipulation of the oil market, which could  Statoil, BP and Shell are not just petrol providers – they are major gas 

    European probe into oil price-fixing widens to Finland: Marketplace.org-May 17, 2013: Earlier this week, EU officials raided the offices of three of Europe’s biggest oil companies — BP, Shell and Statoil — and the oil price reporting company Platts,  read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com
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