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Posts on ‘January 16th, 2015’

Proof Errant Shell employees can end up in jail 

Screen Shot 2015-01-16 at 12.36.53By John Donovan

Shell employees can potentially end up financially destitute or in jail for acts of negligence, for lying or falsifying records on behalf of Shell, or when giving misleading evidence on behalf of Shell in a court case.

The news story below – Oil Worker Faces Stiff Penalties After Airport Spill – comes after years of claims from Shell senior management about the top priority it gives to safety issues.

Shell appointed a safety Czar in July 2007. 

In 2008, it was discovered that even the life boats on a Shell North Sea Oil rig were unseaworthy. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

The dramatic consequences of plunging oil prices

Screen Shot 2015-01-16 at 09.03.51“Brent futures are set to fall to as low as $31 a barrel by the end of the first quarter from about $48 now.”; “People know these prices are unsustainable,” he said, and they will lead to large-scale layoffs and cuts in maintenance spending, which will eventually sharply reduce overall output. BP’s announcement of layoffs was just the start…; “Just a few months ago, analysts predicted the price would bottom out at $70 a barrel, and then $60. Now it’s at $46, and many have given up trying to guess when the bottom will come.”

From an article by Will Kennedy and Firat Kayakiran published on 16 January 2015 by BloombergBusinessweek under the headline:

“Big Oil Companies Get Serious With Cost Cuts on Worst Slump Since 1986”

Major oil companies are awaking from their slumber and facing up to the magnitude of the crash in crude prices.

From Royal Dutch Shell Plc (RDSA) canceling a $6.5 billion project in Qatar to Schlumberger Ltd. firing about 9,000 people and Statoil ASA (STL) giving up exploration in Greenland, the oil industry this week concluded that the slump is no blip. 

And there’s certainly more unwinding to come. For most of this month, crude oil has traded below $50 a barrel, a level few predicted even two months ago when OPEC signaled it wouldn’t cut production to defend prices. If the market stays this depressed, global spending on exploration and production could fall more than 30 percent this year, the biggest drop since 1986, according to forecasts from Cowen & Co. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com
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