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Posts on ‘June 25th, 2013’

Appeals Court Revives Defamation Suit Against Shell

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By Jeremy Heallen

Law360, Houston (June 25, 2013, 3:21 PM ET) — A Texas appeals court Tuesday revived a defamation suit against Shell Oil Co., ruling that the oil and gas giant could potentially be held liable for allegedly telling federal authorities that a former employee signed off on bribes to foreign officials.

The First District Court of Appeals rejected a trial court’s decision that Shell was immune from the suit under an “absolute privilege” that extended to statements made in the context of judicial proceedings because at the time the company told the U.S. Dept. of Justice… 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.

U.S. FTC Said to Open Oil Price Probe, Mirroring EU Inquiry

Screen Shot 2013-05-17 at 01.06.41June 25 (Bloomberg) — The U.S. Federal Trade Commission opened a formal investigation into how prices of crude oil and petroleum-derived products are set, mirroring a European Union inquiry, two people familiar with the matter said.  The investigation, now in a preliminary stage, will probably broaden into a multi-jurisdictional affair…

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U.S. FTC Said to Open Oil Price Probe, Mirroring EU Inquiry

Jun 25, 2013 12:01 am ET

June 25 (Bloomberg) — The U.S. Federal Trade Commission opened a formal investigation into how prices of crude oil and petroleum-derived products are set, mirroring a European Union inquiry, two people familiar with the matter said.

The investigation, now in a preliminary stage, will probably broaden into a multi-jurisdictional affair like the inquiry into manipulation of the London interbank offered rate, or Libor, the people said. FTC investigators are reviewing the progress made by their European counterparts, the people said, asking not to be identified because the matter is confidential. 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.

Everything you need to know about the oil price fixing scandal

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Screen Shot 2013-05-17 at 01.06.41Shane Ferro

The Wall Street Journal has a painstakingly detailed article on how oil prices are benchmarked, and how those benchmarks can be manipulated. The EU has been investigating major oil companies, as well as the industry publication that sets the daily benchmark price, since last month. If the probe turns up damning evidence, this could be the biggest price-fixing scandal since Libor.

What’s going on here?

In mid-May, EU investigators raided the offices of Shell, BP and Statoil, three of Europe’s largest oil exporters. They also hit Platts, which takes pricing data from oil traders and uses it to set a daily oil-price benchmark. The raids come on the heels of the Libor scandal, in which some of the world’s largest banks were fined for manipulating interest rate benchmarks. 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.

Texas Appeals Court Revives Shell FCPA Defamation Suit

Screen Shot 2014-10-30 at 09.22.43By Jeremy Heallen

Law360, Houston (June 25, 2013, 3:21 PM ET) — A Texas appeals court Tuesday revived a defamation suit against Shell Oil Co., ruling that the oil and gas giant could potentially be held liable for allegedly telling federal authorities that a former employee signed off on bribes to foreign officials.

The First District Court of Appeals rejected a trial court’s decision that Shell was immune from the suit under an “absolute privilege” that extended to statements made in the context of judicial proceedings because at the time the company told the U.S. Dept. of Justice that it believed project manager Robert Writt had violated the Foreign Corrupt Practices Act, a criminal case had not yet been initiated. 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 Says Trans Niger Pipeline Fire Investigation Begins Tuesday

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By Obafemi Oredein: June 24, 2013

Special to DOW JONES NEWSWIRES

Shell spokesman Tony Okonedo said in a statement that the team that will visit the site on Tuesday includes regulators, Ministry of Environment officials, community members, SPDC officials and independent observers.

FULL ARTICLE

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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