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Posts on ‘March 26th, 2014’

Finnish market watchdog sanctions Shell chairman Ollila

Screen Shot 2014-03-27 at 00.22.33HELSINKI, March 26 Wed Mar 26, 2014 2:14pm EDT

(Reuters) – Finland’s financial watchdog said it has imposed a 3,000 euro fine against Jorma Ollila, the board chairman of Royal Dutch Shell Plc as well as Outokumpu Oyj for not declaring a company he controlled to a public insider register.

A spokeswoman for the Finnish Financial Supervisory Authority said on Wednesday that Ollila had been given an administrative fine for not disclosing Kestrel SA, an investment company he owns, in time in the public insider register of steel firm Outokumpu. 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.

Reputational damage from Shell Brent Spar episode

Screen Shot 2014-03-26 at 13.01.57

Extracts from an article by Dr Roger Barker published 26 March 2014 by realbusiness.co.uk under the headline: How to balance your director duties with stakeholder management

…the pursuit of “corporate wealth” should not be about generating a “fast buck” for shareholders but should also take into account the impact of a business’s activities on other relevant stakeholders. It promotes a sustainable business model that eschews short-termism, stock market pressures or short-term bonus cultures and seeks to make the board focus on longer-term goals. 

The consequences of ignoring these principles tend to catch up with companies after a while, both in terms of commercial and reputational impact. Witness the drubbing that Shell Oil received a few years ago when it decided to sink the Brent Spar oil platform in the North Sea – while this was later demonstrated to be the best way to dispose of the platform in terms of the environmental impact, Shell had failed to put enough energy into dialogue with potential critics before taking the decision, and their reputation suffered. 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, CNPC to jointly seek shale gas in Sichuan Basin

Screen Shot 2014-02-10 at 16.29.29Extracts from a China Daily article published 26 March 2014 by Ecns.cn

Energy conglomerate Royal Dutch Shell Plc is committing to a “substantial investment” in exploring for conventional and unconventional gas in China to quench the growing thirst for clean energy in the world’s second-largest economy. The company will continue its exploration of shale gas in the Sichuan Basin, where it landed the first contract with State-owned oil giant China National Petroleum Corp, Huibert Vigeveno, executive chairman of Shell in China, said on Tuesday. Shell also is making inroads into downstream business segments. It opened a lubricant technical center in Shanghai on Tuesday, the biggest such hub in the Asia Pacific and an integral part of its global research and development network. 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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