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Posts on ‘May 22nd, 2018’

Shell’s oil spill dispute with Nigeria’s Bodo villagers back in UK court

Estelle Shirbon: MAY 22, 2018

LONDON (Reuters) – Lawyers for the Bodo community in Nigeria’s oil-producing Niger Delta, which was devastated by two major oil spills a decade ago, went to court in London on Tuesday to fend off what they said was an attempt by Shell to kill off their litigation.

The Bodo oil spills have been the subject of years of legal wrangling. In 2015, Shell accepted liability for the spills, agreeing to pay 55 million pounds ($83 million at the time) to Bodo villagers and to clean up their lands and waterways. 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 Sees Off Controversial Votes on Climate Change, CEO Pay

Photographer: Andrey Rudakov/Bloomberg

Kelly Gilblom: 22 May 2018, 14:48 BST

Royal Dutch Shell Plc has seen off the two most debated issues at its shareholder meeting — the boss’s pay and responsibility in tackling climate change. But not without a degree of drama.

The company won the backing of about 94 percent of shareholders to not set specific emission-reduction targets, with Chief Executive Officer Ben van Beurden saying it is taking “leadership” on the issue. However, while almost 75 percent of investors also approved the remuneration report, it faced stiffer resistance after an influential advisory firm asked them to reject the package. 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.

Large investors ask Shell to set targets to comply with Paris climate accord

May 22, 2018

A group of 26 large institutional investors have petitioned Shell to formulate concrete goals in its effort to address the terms of the Paris climate accord.

The 26 investors, which have a total of $7.8trn under management, presented a statement to the Anglo-Dutch energy giant during Shell’s AGM in The Hague. The group of  26 includes HSBC Global Asset Management, AXA Investment Manager, Aegon, Calpers en MN.

In its statement, the investors applauded Shell’s ambition to reduce its carbon footprint by 50% and called on other oil and gas companies to follow suit. 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 boss hit by shareholder revolt over £8m pay

A quarter of Shell shareholders turned on Ben Van Beurden after he pocketed €8.9m (£7.8m)

Jillian Ambrose: 

The boss of Royal Dutch Shell has suffered a bruising shareholder revolt after more than a quarter of its investors voted against his multi-million euro payout for last year.

Ben Van Beurden pocketed €8.9m (£7.8m) for 2017 after trebling the company’s profits to $12.1bn (£9bn) as the oil giant staged an impressive recovery from a crash in prices.

But shareholders took against the FTSE 100 boss after an accident in Pakistan last year claimed the lives of more than 200 people in an explosion of a fuel tanker operated by one of the energy giant’s subsidiaries. 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.

Over $40 million of fuel stolen from Shell refinery, Singapore court documents show

John Geddie, Rolan Khasawneh: MAY 22, 2018 SINGAPORE (Reuters) – Singapore authorities have levied new charges against a group of fuel thieves operating at Royal Dutch Shell’s oil refinery in the city-state, raising the value of the stolen fuel to over $40 million (30 million pounds) from around $10 million in earlier charges, according to court documents reviewed by Reuters on Tuesday.

Five former employees of Shell’s (RDSa.L) Singapore subsidiary received 51 additional charges in court on Friday for suspected theft at the Pulau Bukom refinery, Shell’s biggest, to bring the total allegations against them to 63 each, the documents showed.

The charges relate to incidents involving a total of 66,141 metric tonnes of gasoil valued at around $32.1 million between late April 2017 through to early January this year.

An additional three former Shell employees received eight additional charges for incidents involving 16,394 metric tonnes of gasoil valued at around $8.4 million, raising their total allegations to 15. 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 shareholders adopt CEO pay by 75 percent majority

FILE PHOTO: Ben van Beurden, CEO of Royal Dutch Shell company, speaks during a meeting with Russian President Vladimir Putin in Moscow, Russia June 21, 2017. REUTERS/Sergei Karpukhin

Reuters Staff: May 22, 2018

THE HAGUE (Reuters) – Royal Dutch Shell (RDSa.L) shareholders on Tuesday approved the 2017 management remuneration, including Chief Executive Officer Ben van Beurden’s 8.9 million euro ($10.51 million) package, by a majority of 75 percent.

The 2016 remuneration resolution won the support of more than 92 percent of shareholders. 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.

Investors turn up heat on Shell over climate targets

Ron Bousso: MAY 22, 2018

THE HAGUE (Reuters) – Top investors in Royal Dutch Shell on Tuesday stepped up pressure on the oil and gas giant to commit to hard targets to reduce greenhouse gas emissions to battle climate change.

Shell has set out “ambitions” to halve carbon emissions by 2050 and expand in renewables energy, which Chief Executive Officer Ben van Beurden said were ground breaking for the oil industry.

To view a graphic on Shell emissions, click: reut.rs/2Iya7Hf

“Nobody else comes close, it is seriously ambitious,” van Beurden said of Shell’s plan at the company’s annual general meeting in The Hague. 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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