Royal Dutch Shell Group .com Rotating Header Image

Posts on ‘July 1st, 2013’

Retired Shell Global Chief Petroleum Engineer Iain Percival speaks out

I am reacting to the article on BP’s difficulties in court in the litigious US environment. BP has a case to answer; no-one disputes that. However the feeding frenzy is a disgrace and another demonstration of “one rule in the US and another for the rest of the world.” The sums being talked about as “justified compensation” for the deaths, environmental damage, loss of earnings beggar belief and could eventually destroy the company.

Comment by Retired Shell Global Chief Petroleum Engineer Iain Percival on the Bloomberg/Businessweek article:

How BP Got Screwed on Gulf Oil Spill Claims

1 July 2013

I am reacting to the article on BP’s difficulties in court in the litigious US environment. BP has a case to answer; no-one disputes that. However the feeding frenzy is a disgrace and another demonstration of “one rule in the US and another for the rest of the world.”

In a few days (July 6th) our business will mark the 25th anniversary of the Piper Alpha disaster in the North Sea. It is worth while remembering that the operating deficiencies of Occidental, a US oil company, resulted in the deaths of 167 men. In addition, the survivors have been scarred (physically and mentally) for life and the families have done their collective best to get on with their lives without resorting to armies of lawyers. In contrast, 11 men died in the Deep Water Horizon episode. That is certainly 11 too many but not the same scale of human disaster as was Piper Alpha. The sums being talked about as “justified compensation” for the deaths, environmental damage, loss of earnings beggar belief and could eventually destroy the company. In addition, a number of BP employees could end up with lengthy custodial prison sentences. In contrast the “damage” suffered by Occidental was derisory being £110 million paid to the survivors (considerably less than £1 million per man) and not a single Occidental employee or company official was prosecuted in a court of law. To add insult to injury. Occidental’s lawyers spent considerable time and effort following the payments trying to recover the money from contractors on Piper Alpha, pursuant to indemnity obligations in contracts, which were common in the North Sea at the time of the disaster.
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 probe into North Sea oil platform crane damage

Screen Shot 2012-12-07 at 16.17.08

An investigation has been launched after a crane was damaged on a North Sea Shell platform, BBC Scotland has learned.

The Brent Charlie platform crane, and some of its support structures, were damaged on Sunday.

Shell said no-one was injured, and production from the platform had not been affected.

A spokesperson said: “The crane and the surrounding area has been made safe.”

The spokesperson added: “An investigation team has been mobilised.”

SOURCE

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.

Oil majors eye oil and gas off Arctic Jan Mayen island

Screen Shot 2013-01-29 at 14.38.10

Mon Jul 1, 2013 6:17am EDT

* Shell, Chevron, Total and others buy seismic data for area

* Jan Mayen area may contain 566 mln barrels oil equivalent

(Reuters) – Oil majors including Royal Dutch Shell, Chevron and Total are interested in the potential oil and gas resources off Jan Mayen island in the Arctic, the Norwegian Petroleum Directorate said on Monday.

These three companies, as well as London-listed Tullow Oil , Sweden’s Lundin Petroleum, Norway’s Det norske and Japan’s Idemitsu, have bought seismic data the agency has gathered since 2011. 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.

How BP Got Screwed on Gulf Oil Spill Claims

Screen Shot 2013-07-01 at 08.32.57INTRO BY JOHN DONOVAN: THIS BLOOMBERG BUSINESSWEEK ARTICLE PROVIDES A CAUTIONARY TALE OF THE POTENTIAL BANKRUPTING CONSEQUENCES FOR A FOREIGN OWNED OIL COMPANY THAT MESSES UP SPECTACULARLY WHEN DRILLING IN US WATERS. ROYAL DUTCH SHELL SENIOR MANAGEMENT WAS WELL AWARE OF THE POTENTIAL DIRE CONSEQUENCES WHEN IT SENT AN ANTIQUATED ILL-PREPARED DRILLING FLEET INTO ALASKAN/ARCTIC WATERS, CULMINATING IN ANOTHER PR DISASTER, FORTUNATELY WITHOUT ANY FATALITIES. 

Screen Shot 2013-07-01 at 08.34.01

By Paul M. Barrett: June 27, 2013

Until this year, Tampa attorney Kevin McLean specialized in suing nursing homes for neglecting patients. In January he switched the focus of his practice to a fund BP (BP) established to compensate business losses from the 2010 oil spill in the Gulf of Mexico. In its attempt to dilute a legal and public-relations mess of epic proportions, BP began paying claims within weeks of the disaster and has so far spent more than $25 billion for cleanup and compensation. That hasn’t stemmed demands for more. The installation last year of a particularly generous claims administrator prompted scores of additional plaintiffs’ attorneys to swarm onto the scene, signing up a new wave of clients, many located far from the once-sullied shoreline. Just five months after his pivot, McLean’s three-attorney firm has 260 clients with claims ranging from $20,000 to $4 million apiece. “The craziest thing about the settlement,” he wrote in a solicitation letter, “is that you can be compensated for losses that are UNRELATED to the spill. 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.

Oil Benchmarks Go From Trusted to Tainted as EU Missed Warning

The European Union’s top energy official ignored a warning delivered in 2009 about potential manipulation of Platts oil benchmarks “because markets trusted” them. The warning went unheeded until May, when EU antitrust officials raided Platts, Royal Dutch Shell Plc, BP Plc, and Statoil ASA as part of an investigation into the possible rigging of benchmark energy assessments.

Screen Shot 2012-11-19 at 09.32.24 By Gaspard Sebag: June 30, 2013

The European Union’s top energy official ignored a warning delivered in 2009 about potential manipulation of Platts oil benchmarks “because markets trusted” them.

Andris Piebalgs, who was EU energy commissioner from 2004 to 2010, cited the confidence traders had in the pricing system when a lawmaker questioned the reliability of Platts’ prices more than three years ago. The warning went unheeded until May, when EU antitrust officials raided Platts, Royal Dutch Shell Plc (RDSA), BP Plc (BP/), and Statoil ASA (STL) as part of an investigation into the possible rigging of benchmark energy assessments. 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.
%d bloggers like this: