Angela Macdonald-Smith: 10 Dec 2015
Royal Dutch Shell is mulling a complete exit from New Zealand, putting all its oil and gas assets in the country under review for a possible sale that would likely fetch into the billions of dollars.
Country chairman Rob Jager said that while the New Zealand business was “great”, it is “a small part of the global Shell business and hence the decision to undertake a strategic review at this time.”
Shell already has a sale process underway for its stake in the Maui gas pipeline, with a teaser document sent to potential buyers by adviser JPMorgan in October. The pipeline is expected to fetch as much as $NZ300 million, but the rest of Shell’s business in New Zealand is much more extensive.
Shell owns 50 per cent of the Shell Todd Oil Services venture, as well as interests in several producing fields such as Maui, Pohokura and Kapuni, and in frontier exploration ventures in the Great South Basin far off the south-east coast, and in the New Caledonia Basin off the north-west.
Speaking to reporters on a conference call on Thursday morning, Mr Jager said the decision to review the NZ assets was “not directly linked to the oil price” but rather driven by Shell’s global strategy of seeking divestments from within its portfolio over the next three years.
The oil giant, which is close to tying up a $US70 billion takeover of BG Group, has flagged some $US30 billion of asset sales over the next three years.
Mr Jager said a small team of Shell staff and some external advisers would assess the various options for the assets, with the review to last “more likely months rather than weeks.” He wouldn’t pre-empt whether some assets my be kept, or whether all were likely to be sold. The sale process for the Maui pipeline will continue unaffected, he added.
About 70 staff are employed at Shell New Zealand, and about 360 at Shell Todd Oil Services, Mr Jager said.
Shell’s Australian business has also been streamlined in recent years, including the sale of its refining and marketing business, and its exit from Chevron’s Wheatstone LNG venture in Western Australia.
However, Australia remains a major part of Shell’s global portfolio, including its Prelude floating LNG venture, stakes in the North West Shelf and Gorgon ventures, the undeveloped Sunrise gas project and coal seam gas interests in Queensland.
Shell also still owns a stake in Woodside Petroleum, which is also seen a candidate for disposal given two sell-downs in the holding over the last five years.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
