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Posts on ‘June 26th, 2014’

High level of corporate secrecy in Myanmar oil & gas sector-Global Witness survey

Screen Shot 2014-02-10 at 16.29.29Extract from a Thomson Reuters Foundation article by Thin Lei Win published 26 June 2014

YANGON (Thomson Reuters Foundation) – As resource-rich Myanmar gears up to join the global anti-corruption scheme for the oil, gas and mining sector, a survey by a London-based advocacy group found widespread corporate secrecy in the sector, which has long been plagued by corruption.

Of the 47 local and international companies which won major oil and gas blocks in October and March, only 13 responded to questions about their ownership, Global Witness said on Thursday. The Netherlands’ Berlanga Holding B.V., Italy’s Eni, Anglo-Dutch Shell and Thailand’s PTTEP South Asia, a subsidiary of publicly traded PTTEP, are among those that did not respond, it said. 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.

One Reason Why I Wouldn’t Buy Royal Dutch Shell plc Today

Screen Shot 2014-06-23 at 11.37.41Extracts from a Motley Fool article by Royston Wild published 26 June 2014 

Shell has spun off a multitude of upstream and downstream assets in recent years in order to build its dividend and share repurchase-supporting cash pile and reduce its exposure to non-core assets. The oil giant also offloaded its Australian Geelong refinery and almost 900 pump stations in Australia to Vitol for $2.6bn back in February, and follows other downstream sales including that of its liquefied petroleum gas (LPG) operations in the Philippines late last year. The business has also offloaded upstream assets from the UK to Egypt and across Scandinavia over the past 12 months. The effect of this severe asset cutting caused total output during January-March to drop 9% to 3.3 million barrels of oil equivalent per day, and the company has hinted at further divestments to come. 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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