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Posts on ‘June 9th, 2013’

Shell says oil price fixing probe by EU could take years

THE EUROPEAN Commission’s probe into allegations of oil price fixing could take years, according to Shell: The lawyer warned that the EC is issuing increasingly heavy penalties. For cartel cases, the limit for a fine is 10 per cent of the group’s turnover.

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by Suzie Neuwirth: June 7, 2013, 4:21am

THE EUROPEAN Commission’s probe into allegations of oil price fixing could take years, according to Shell, one of the companies under review.

“It is important to bear in mind that this is an ongoing investigation into the facts and potential evidence, and it could be a number of years before it concludes,” a Shell spokesperson told City A.M. via email.

Oil giant Shell, along with BP, Statoil, ENI and price reporting agency Platts, all confirmed last month that they are under investigation by the EC. 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 steps on the natural gas

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For the first time more than half the energy giant’s profits have not come from oil. The shift reflects a gas revolution

Danny Fortson Published: 9 June 2013

Three months ago at a shipyard in Rotterdam, Daniela Voser, the wife of Shell’s chief executive, smashed a champagne bottle on the hull of a river barge.

The Greenstream lacks the grandeur of a cruise ship, but its launch was notable nonetheless. It is the first vessel built to run on liquefied natural gas. It produces a quarter of the carbon dioxide and a fifth of the nitrous oxide typically emitted from barges powered by fuel oil.

The gas powers electric engines, which means the boat is much less noisy, too. The Greenstream is the Toyota Prius of marine transport. 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.

Kulluk report due in July as hearings end

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Screen Shot 2013-06-09 at 00.33.11By Tim Bradner, Alaska Journal of Commerce: June-Issue-2 2013

Two weeks of U.S. Coast Guard hearings on the grounding of Shell’s drill rig Kulluk concluded May 30. A report on conclusions of the inquiry is due in early July, but that deadline may be extended, Coast Guard Lt. Commander Brian McNamara said.

Coast Guard officials are probing Shell’s decisions and risk analysis in sending the drill rig across the Gulf of Alaska under tow during the winter, and whether the proper tugs and tow equipment were used. 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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