Royal Dutch Shell Group .com Rotating Header Image

Eni

World’s Biggest Wealth Fund Wants Out of Oil and Gas

The $1 trillion fund that Norway has amassed pumping oil and gas over the past two decades wants out of petroleum stocks.  

Norway, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to declining crude prices without its fund investing in the industry, the central bank said Thursday. The divestment would mark the second major step in scrubbing the world’s biggest wealth fund of climate risk, after it sold most of its coal stocks.

“Our perspective here is to spread the risks for the state’s wealth,” Egil Matsen, the deputy central bank governor overseeing the fund, said in an interview in Oslo. “We can do that better by not adding oil-price risk.” read more

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.

Malabu Oil Deal: Investigators Reveal Roles Played By Obasanjo, Russian Pres. Putin, Gusau, Etete, And Ex House Of Rep Member, Bature

BY SAHARA REPORTERS, NEW YORK OCT 15, 2017

The Malabu oil scandal, which began in 1998 under the military regime of the late General Sani Abacha, had the quartet of former President Olusegun Obasanjo, General Aliyu Mohammed Gusau a former National Security Adviser; Mr. Dan Etete, former Petroleum Resources Minister; Russian President Putin and House of Representatives member, Umar Bature as lead actors at various stages.

The transaction, which birthed the scandal, began when the Abacha regime decided to encourage indigenous participation in the upstream sector of the oil and gas industry. The regime allocated oil blocks to Nigerian companies at a reduced cost of $20 million per block. read more

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.

Eni/OPL 245 growing global bribery probe

Jaclyn Jaeger | Extracts from article published Sept 19, 2017

Italian oil giant Eni in a public filing this month revealed further details about what corruption allegations and investigations its facing around the world.

Corruption allegations against Eni now include Nigeria, Iraq, Kazakhstan, Algeria, and Congo. The number of enforcement authorities, employees, and subsidiaries involved in these allegations has also grown.

Block OPL 245 — Nigeria. Eni first mentioned allegations of international corruption in a Form 6-K (Report of Foreign Issuer) in 2014. In that report, the company said that it had been served with a notice of investigation in July 2014 by the Italian Public Prosecutor in Milan “relating to potential liability on the part of Eni arising from alleged international corruption.” read more

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.

Big Oil Becomes Greener With Cuts to Greenhouse Gas Pollution

It’s no secret that oil majors are among the biggest corporate emitters of pollution. What may be surprising is that they’re reducing their greenhouse-gas footprints every year, actively participating in a trend that’s swept up most corporate behemoths.

Sixty-two of the world’s 100 largest companies consistently cut their emissions on an annual basis between 2010 and 2015, with an overall 12 percent decline during that period, according to a report from Bloomberg New Energy Finance released ahead of its conference in London on Monday. read more

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.

UPDATE 1-Kazakhstan may strike separate deal with OPEC on oil output curbs

Kashagan has been developed by a consortium of China National Petroleum Corp, Exxon Mobil, Eni , Royal Dutch Shell, Total, Inpex and KazMunaiGas.

By Mariya Gordeyeva: SEPTEMBER 7, 2017 / 2:28 PM

ASTANA, Sept 7 (Reuters) – Kazakhstan is aiming for a standalone deal with leading global oil producers on restraining its crude production due to a need to crank up output at its Kashagan field, a Kazakh official said on Thursday. 

The Central Asian nation increased oil and gas condensate output by 9.9 percent in January-July to 49.907 million tonnes, or 1.724 million barrels per day (bpd), exceeding its quota of 1.7 million bpd under a global supply pact. read more

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.

Trump Rolls Back Anti-Corruption Efforts in the Oil Industry

In Nigeria, one anti-corruption campaigner fears that if the era of U.S.-led transparency initiatives is over, the relapse will be stark. In April, Global Witness published e-mails documenting the case of a payment of more than a billion dollars that Royal Dutch Shell and the Italian oil company Eni made to Nigeria through unusual channels. According to Global Witness, Shell “knew it was party to a vast bribery scheme,” and international investigations are under way.

By : 11 August 2017

The rule, which was mandated by a law co-sponsored by former Republican Senator Richard Lugar, of Indiana, and Democratic Senator Ben Cardin, of Maryland, was designed to combat bribery and corruption, especially in poor countries governed by kleptocrats. Thirty other countries, including Canada and the members of the European Union, had already adopted similar requirements. Yet the American Petroleum Institute and companies such as ExxonMobil, at the time when Secretary of State Rex Tillerson was still its C.E.O., had lobbied against the rule. They said that it was costly to implement and gave unfair advantage to overseas competitors to which it did not apply. When Trump took power, the lobbyists got their way. read more

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.

Kazakhstan: US sanctions will not affect oil projects

Kazakhstan: US sanctions will not affect oil projects

by: : 8 Aug 2017

New US sanctions against Russia will not affect multi-billion dollar oil projects in Kazakhstan backed by Chevron, ExxonMobil and other western energy majors, the country’s economy minister has said. Italy’s Eni, France’s Total, Exxon and Royal Dutch Shell all hold stakes in Kashagan, another Kazakh oil field. The decision to expand sanctions… was taken to primarily target Gazprom’s under-construction Nord Stream 2 gas pipeline to Germany… partially funded by… Shell… FULL FT ARTICLE read more

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.

Shell outlines projects on track for FIDs

Friday, Aug 04, 2017

European upstream projects in the UK and Italy are among the eight Royal Dutch Shell proposals scheduled for a final investment decision (FID) before 2018.

Shell is considering a redevelopment of the Penguins cluster in the northern North Sea. This would see the installation of a new FPSO to replace the current 65-km tie-back of Penguins’ five deposits to the ageing Brent Charlie platform.

Charlie is the only one of four Brent platforms that is still producing oil, and Penguins requires a new outlet for processing once the field is finally decommissioned. read more

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.

EU warns U.S. it may respond swiftly to counter new sanctions on Russia

A list prepared by the EU executive, seen by Reuters, shows eight projects including those involving oil majors Anglo-Dutch Shell, BP and Italy’s Eni that risk falling foul of the U.S. measures. EU officials warn the U.S. measures would also hit plans for the LNG plant on the Gulf of Finland in which Shell is partnering with Gazprom.

Alissa de Carbonnel: 26 July 2017

BRUSSELS (Reuters) – The European Union warned on Wednesday that it was ready to act within days to counter proposed new U.S. sanctions on Russia, saying they would harm the bloc’s energy security.

Sanctions legislation overwhelmingly approved by the U.S. House of Representatives on Tuesday has angered EU officials: they see it as breaking transatlantic unity in the West’s response to Moscow’s annexation of Crimea from Ukraine in 2014 and its support for separatists in eastern Ukraine. read more

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.

Investors Squeezing Oil & Gas Developers To Cut Methane

Investors Squeezing Oil & Gas Developers To Cut Methane

, I write about the global energy business.: July 20, 2017: Opinions expressed by Forbes Contributors are their own.

Oil and gas developers may soon be feeling the effects of a one-two punch — an adverse court ruling dealing with their methane emissions and now an investor-led initiative pushing them to be more transparent.

Natural gas, of course, has become the fuel of choice — a fuel that markets itself as far less pollutive than coal. But methane is its main component, which is 84 times more potent than CO2, although its lifespan is 20 years compared to 100. Indeed, methane makes up about 25% of the global warming today. read more

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.

Kazakhstan and Eurasia new oil consortium in a multi-billion Caspian project

LONDON (TCA) — In a move presented as glorious and spectacular, oil companies from Russia (Rosneft), China (CNPC), Kazakhstan (Kazmunaygas), Azerbaijan (SOCAR) and Italy (Eni) have teamed up to form a consortium for the exploration and exploitation of what is expected to be a new “giant” located in the very heart of the northern Caspian tectonic structure. The project, if successful and market demand to remain unchanged, should prolong the position of Kazakhstan as a global-scale oil supplier from 2040 till 2080. The Kazakhs are committed to contribute in the order of a billion greenbacks each year from now to the project. No overall picture of the total price tag has been presented so far. read more

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.

Trump administration approves Eni plan to drill offshore Alaska

Royal Dutch Shell Plc quit its exploration quest offshore Alaska in 2015 after a ship it had leased suffered a gash in mostly uncharted waters…

WASHINGTON (Reuters) – Eni US will become the first energy company allowed to explore for oil in federal waters off Alaska since 2015 after the Trump administration this week approved a drilling plan on leases the company has been sitting on for 10 years.

The Bureau of Ocean Energy Management approved the drilling plan of Eni US, a unit of Italy’s Eni on Wednesday as part of President Donald Trump’s plan to boost oil and gas drilling and make the country “energy dominant.” read more

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.

Nigeria Delta Communities Demand Stake in Ex-Shell Oil Block

A group of communities in Nigeria’s Niger River delta demanded a stake in an oil block it said it was promised when Royal Dutch Shell Plc sold its share to a local company six years ago.

The communities in the Gbaramatu district, near the southern oil town of Warri, want 5 percent of a lease owned by Lagos-based Neconde Energy Ltd.and state-owned Nigerian National Petroleum Corp., according to a statement emailed by the group on Friday.

Neconde “refused to fulfill the 5 percent equity share to the host communities, whose environment has been negatively impacted and devastated by oil activities, destroying our age-long traditional fishing business,” Momotimi Guwor, a spokesman for the communities, said in the statement. read more

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.

Nigeria Parliament Inquiry Calls Ex-President Jonathan Over Oil Block Sale Scandal

July 5, 2017

ABUJA (Reuters) – Nigeria’s lower house of parliament called on Wednesday for ex- president Goodluck Jonathan to testify in an inquiry into the contested sale of an oil block during his tenure, the investigating committee said.

Investigations into the $1.3 billion sale in 2011 of oil prospecting license (OPL) 245, which could harbor more than 9 billion barrels of oil, have involved Nigerian, Italian and Dutch authorities, two of the world’s largest international oil companies as well as a convicted money launderer. read more

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.

Crude Slump Wipes $113 Billion From Oil Drillers

By Rakteem Katakey: 30 June 2017

Oil companies have spent three years slashing spending and firing workers to protect profits, only to find their hard work blown away as prices entered another bear market. The MSCI World Energy Sector Index is heading for a second consecutive quarter of declines, mirroring the drop in crude. The 90 companies that make up the index, including giants like Exxon Mobil Corp. and Royal Dutch Shell Plc, have together lost $115 billion in market value since the start of April, according to data compiled by Bloomberg. read more

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.

Oil Majors Snatch Up Mexican Oil Blocks

By Nick Cunningham – Jun 20, 2017, 4:00 PM CDT

Mexico hosted another oil auction on Monday, auctioning off shallow water oil and gas blocks to international companies. The auction was the latest in a series of offerings related to the country’s historic energy reform, which opened up Mexico’s energy sector to private investment.

The latest auction had modest hopes, as the blocks on offer were in shallow water areas, far from the much more sought after deepwater blocks near the U.S. maritime border. But the results exceeded expectations, with a handful of oil majors jumping into the fray.  read more

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.

Norwegian Union Threatens Strike at Statoil, Shell, Eni Platforms

OSLO — About 150 oil platform workers would go on strike, potentially disrupting output from several Norwegian fields, if they fail to get a pay deal by midnight on Friday, their union said on Tuesday.

Lederne, the smallest of the three Norwegian unions representing oil industry workers, said the strike would target platforms at Eni’s Goliat, Shell’s Draugen and Statoil’s Kvitebjoern, Oseberg East and Gudrun fields.

“We believe it would mean shutting down production on those platforms,” a spokesman for the union said. read more

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.

Malabu oil deal: Court shifts hearing of Shell, Agip, EFCC’s objection to July 5

The Federal High Court sitting in Abuja on Thursday fixed July 5, 2017 to hear the preliminary objections to a suit filed by Malabu Oil and Gas Ltd against the Federal Government.

Joined as defendants in the suit are the Minister of Petroleum Resources, Shell Nigeria Ultra-Deep Limited, Shell Nigeria Exploration and Production Company Ltd; Nigerian Agip Exploration Company Ltd; Economic and Financial Crimes Commission (EFCC) and Chief Dan Etete.

In the suit filed on 10th April, 2017, Malubu Oil and Gas Limited is seeking an order of court stopping Shell Nigeria Exploration and Production Company and Nigerian Agip Exploration Company Limited from signing the Final Investment Decision (F.I.D) for the $13.5 billion Zabazaba Deep water Project located in Oil Prospecting Licence (OPL245) in the second quarter of this year. read more

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.

ShareAction urges investors to reject BP, Shell pay policies leftright 2/2leftright

Graphic from a Financial Mail On Sunday article published in Sept 2015

Campaign group ShareAction on Tuesday called for investors to oppose remuneration policies at oil majors BP and Royal Dutch Shell as the policies were not tied closely enough to targets to reduce carbon emissions.

ShareAction said this meant both companies’ plans were misaligned with the interests of long-term shareholders.

ShareAction said it had contacted shareholders at both companies and was helping pension savers to write to their funds about voting down the remuneration policies. read more

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.

Shell to invest $25 billion in Nigeria, other countries

Shell to invest $25 billion in Nigeria, other countries

Oil giant, Royal Dutch Shell, has announced plans to invest about $25 billion this year in Nigeria and all its oil and gas operation across the world.

Shell made the announcement in its first quarter 2017 financial results released on Thursday.

The report revealed that Shell netted an income of $2.2 billion and was expecting to generate $10 billion in cash flow from the delivery of some of its new projects by 2018.

The company recently announced the resumption of oil production at its 225,000 barrels per day (bpd) Bonga Floating Production Storage and Offloading (FPSO) field in Nigeria’s deep-waters. read more

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.

Nigeria: Despite Malabu Scandal, Shell, Eni Will Continue to Operate OPL 245 – Govt

3 MAY 2017

The Federal Government says the Zabazaba deepwater project in Oil Prospecting Lease (OPL) 245 will continue in spite of controversies surrounding the oil block.

The Minister of State for Petroleum Resources, Ibe Kachikwu, said this in Houston Texas, U. S. while addressing journalists on the sidelines of the annual Offshore Technology Conference.

According to him, the project, which is to be carried out by the trio of the Federal Government, Shell and the Nigerian Agip Exploration Limited (NAE), will go on as scheduled and the protracted dispute on the block with Malabu oil will not affect it. read more

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.

Malabu Deal: NGO Seeks Inclusion Of Nigeria In Prosecution Of Shell, Eni

BY HUMAN AND ENVIRONMENTAL DEVELOPMENT AGENDA (HEDA RESOURCE CENTRE) APR 20, 2017

The Human and Environmental Development Agenda (HEDA Resource Centre), a Nigerian non-governmental organization, has petitioned Vice President Yemi Osinbajo, urging him to request that Nigeria be included in the Milan Court’s prosecution of Shell and Eni with respect to the scandalous Malabu deal.

In a petition addressed to Mr. Osinbajo, who also doubles as the Chairman of the Asset Recovery Committee, HEDA advised the federal government to request that the Italian court judge should recognize Nigeria as a civil party to the Malabu criminal proceeding in order to request adequate compensation for the damages received by the corrupt scheme. read more

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.

Fresh Revelations of Alleged Shell Corruption to be Heard in Italian Court

Fresh Revelations of Alleged Shell Corruption to be Heard in Italian Court

By Chloe Farand • Thursday, April 20, 2017

Court proceedings are due to begin in Italy today to determine whether oil giant Shell will face trial on corruption charges over the purchase of one of Africa’s most valuable oil blocks.

Italian prosecutors claim Shell and Italian oil major Eni concluded a deal for the rights to exploit the Nigerian deepwater oil block OPL 245 with knowledge that the money would fall into the hands of a convicted money-launderer and be turned into political kickbacks. read more

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.

Two oil giants could face trial in Italy over Nigerian deal

“Etete can smell the money. If, at 70 years old, he does turn his nose up at 1.2 billion he is completely certifiable.”

That’s a quote from a confidential email which is embarrassing the oil giant Shell. For years, Shell had strenuously denied that it knew anything about the involvement of convicted money launderer and former Nigerian oil minister Dan Etete in its purchase of the rights to one of Nigeria’s biggest oil fields.

But last week, the British environmentalist and anti-corruption organization, Global Witness, published confidential emails written by a Shell employee. This correspondence, which went right to the top of the Shell management hierarchy, proves that there was a direct link to the convicted Nigerian. After publication, Shell then decided that further clarification of its correspondence was needed. One had to negotiate with Etete “whether one wanted to or not,”  it said. read more

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.

Shell’s dirty secrets

13 APRIL 2017

Oil company Shell has admitted for the first time that it negotiated with a money-launderer for access to an oil field in 2011. Shell and Italy’s Eni paid $1.3bn to Nigeria for access to the field. But investigators claim $1.1bn was passed to a firm controlled by Dan Etete, a man who was convicted of money laundering in a separate case.

Documents filed by Italian prosecutors claim $466m of that was laundered and passed on to then president Goodluck Jonathan.

SOURCE

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.

Reps Committee To Summon Ex-President Jonathan Over Malabu Oil Scandal

by AIT: 12 April 2017

Courts in Nigeria and Italy are investigating the purchase of the offshore block which was initially awarded in 1998 to Malabu Oil and Gas, in a disputed deal, before Royal Dutch Shell and Eni were awarded the rights in 2011.

Shell and Eni paid $1.3 billion for the rights to the block, which industry estimates say could hold more than 9 billion barrels of oil.

The House of Representatives mandated the committee to “conduct a thorough examination of the process and circumstances surrounding OPL 245 and identify culpability of any persons, groups or organisations,” committee chairman Razak Atunwa said in an emailed statement. read more

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.

Nigeria to Start Repayment of $5 Billion Oil Debt This Month

by Elisha Bala-Gbogbo: 

Nigeria will start paying back a $5.1 billion debt owed to international oil companies, including Exxon Mobil Corp. and Royal Dutch Shell Plc, with a first installment this month in accordance with an agreement reached last year.

“The initial payments would be made by the end of April 2017,” Emmanuel Kachikwu, Nigeria’s Minister of State for Petroleum Resources, said in an emailed statement Wednesday. The energy companies are expected to reciprocate “by ensuring that they ramp up investments in the country’s oil and gas sector,” he said. read more

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.

Malabu Scandal: Abacha’s son wants court to stop Nigerian govt, Shell, Agip from operating block

Malabu Scandal: Abacha’s son wants court to stop Nigerian govt, Shell, Agip from operating block

Malabu Oil and Gas Ltd. has asked an Abuja Division of the Federal High Court to stop the sale of a $13. 5 billion deep water project located in the controversial oil block, OPL 245.

The OPL 245, regarded as one of Africa’s richest oil blocks with an estimated over 9 billion barrels of crude, was controversially awarded to Malabu in 1998 by the then petroleum minister, Dan Etete who partly owned the company through a fictional character, Kwekwu Amafegha.

The block was controversially sold to oil giants, Shell and ENI, in 2011 with a large chunk of the $1.1 billion paid ending up in private pockets including those of Mr. Etete. read more

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.

Shell Corruption Probe: New Evidence on Oil Payments

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.

Nigeria: Malabu Scandal – After Telling Lies for Years, Shell Admits It Knew Etete Would Benefit From $1.1 Billion

“This is a huge U-turn that reveals Shell’s duplicity,”

After repeated denials in various countries, Anglo-Dutch oil giant, Royal Dutch Shell, on Monday finally admitted it had foreknowledge that the $1.3 billion itself and ENI paid to Nigerian government for the OPL 245 oil block licence would ultimately be used to settle convicted former Minister of Petroleum, Dan Etete.

“Over time, it became clear to us that Etete was involved in Malabu and that the only way to resolve the impasse through a negotiated settlement was to engage with Etete and Malabu, whether we liked it or not,” The New York Times quoted Andy Norman, a spokesperson for Shell, as saying in an email Monday. read more

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.

Shell dealt with money-launderer to ‘resolve impasse’

Only 24 hours after claiming it had no knowledge of “improper payments” to a convicted money-launderer over a $1.3 billion (£1.1 billion) oil field acquisition in Nigeria, Shell has admitted it had known it was dealing with the controversial figure but doing so was “the only way to resolve [an] impasse”.

The oil scandal involves former Nigerian oil minister Dan Etete, whose company Malabu bought the nine-billion-barrel OPL 245 field off the coast of Nigeria for just $2 million while he was in his government post.

Shell and its Italian partner ENI then bought the field from the Nigerian government in 2011 for $1.3 billion, with more than $1 billion being passed onto a company controlled by Etete, according to Italian prosecutors.

Etete — who was convicted of money-laundering in an unrelated case — denies wrongdoing. read more

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.

Shell says it knew some payments for Nigeria oilfield would go to Malabu

By Libby George | LONDON: Royal Dutch Shell (RDSa.L) has said it knew that some of the payments it made to Nigeria for the rights to an oilfield would go to Malabu Oil and Gas, a company associated with a former Nigerian oil minister and convicted money launderer.

Shell spokesman Andy Norman said the group had known the Nigerian government “would compensate Malabu to settle its claim on the block”. Shell previously had said only that its payments from the 2011 deal went to the Nigerian government.

In an email to Reuters, Norman said that while Shell knew that former oil minister Dan Etete was “involved” with Malabu, it had not confirmed that he controlled the company.

Etete was convicted of money laundering in a separate case in France in 2007. read more

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.

Shell corruption probe: Top executives knew part of £1.3bn Nigerian oil deal would go to convicted money launderer

In a huge u-turn, the company has now admitted it knew Mr Etete was involved.

Top executives at Shell knew that money they paid as part of a $1.3bn deal for a huge Nigerian oil field would end up in the hands of a convicted money launderer who awarded the asset to his own company when he was oil minister of the country.

Emails seen by The Independent and reported by anti-corruption campaign groups Global Witness and Finance Uncovered, show senior bosses at the UK’s biggest company had been informed that hundreds of millions of dollars could flow through former oil minister Dan Etete to be paid in bribes to former President Goodluck Jonathan and other political figures. read more

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.

Shell admits dealing with money launderer

11 April 2017

Shell has admitted for the first time it dealt with a convicted money-launderer when negotiating access to a vast oil field in Nigeria. It comes after emails were published showing Shell negotiated with Dan Etete, who was later convicted of money laundering in a separate case. Shell and an Italian oil company paid $1.3bn (£1bn) to the Nigerian government for access to the field. Investigators claim $1.1bn was passed to a firm controlled by Mr Etete.

Shell and the Italian firm ENI agreed a deal with the Nigerian government for the rights to exploit OPL 245, a prime oil block off the coast of the Niger Delta. read more

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.

Malabu Scam: Shell Finally Admits Knowing It Was Paying Bribes To Etete

BY SAHARAREPORTERS, NEW YORK APR 10, 2017

Global oil giant, Shell, has been forced to admit that it knew it was paying bribes to Nigerian government officials during the transaction for OPL 245. Shell, which had consistently denied wrongdoing, on Monday, admitted that the transaction lacked fidelity.    

On Sunday, Global Witness and Finance Uncovered exposed freshly leaked emails showing that Shell knowingly participated in a massive bribery scheme for one of Africa’s most valuable oil blocks, which robbed Nigerians of $1.1billion. read more

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.

‘Shell was op de hoogte van doorsluizen geld naar Nigeriaanse witwasser’

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.

Shell rocked by corruption claims after negotiating with money launderer during £1bn Nigerian oil field purchase


Current chief executive Ben Van Beurden has also been caught up in the investigation. He was not in position when the deal was complete, but after Shell’s Hague offices were raided in February last year, Dutch authorities wire-tapped a call between Van Beurden and then chief financial officer Simon Henry in which Van Beurden allegedly urged Henry not to disclose the raid to shareholders.

Wiretap: After Shell’s headquarters in the Hague were raided in February last year, ceo  Ben Van Beurden urged chief financial officer Simon Henry not to disclose the raid to shareholders

By Sabah Meddings For The Daily Mail

Shell was last night accused of taking part in ‘one of the worst corruption scandals the industry has ever seen’ after buying an oil field in Nigeria.

The Anglo-Dutch giant joined forces with Italian rival Eni to acquire the site off the coast of the West African country for £1billion – giving it access to 9bn barrels of oil, worth nearly half a trillion dollars at today’s prices. But leaked documents suggest it knew much of this cash would fall into the hands of a convicted money launderer and be used to bribe government officials. read more

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.

Watchdogs allege Shell knew about Nigeria oil kickbacks

Corruption watchdogs alleged Monday that Shell executives knew that money earmarked for a controversial oil deal was being used to bribe senior Nigerian officials, a claim rebuffed by the petroleum giant.

The allegations by Global Witness and Finance Uncovered refer to the 2011 purchase by oil giants Shell and Eni of OPL245, an offshore oil block estimated to hold 9 billion barrels of crude, for $1.3 billion.

The deal saw the Nigerian government act as an intermediary between the oil majors and Malabu Oil and Gas, a Nigerian company allegedly controlled by former petroleum minister Dan Etete. read more

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.

New evidence in Nigeria Corruption Probe: Shell Bosses bribed the oil-minister

Published: Monday, 10 April 2017 18:54

When Shell was buying the OPL 245 oil field in Nigeria for US$1.3 billion, its executives knew that 1.1 billion will land in the pocket of former petroleum minister and convicted money launderer, Dan Etete, media reported Monday.

The BBC claims to have seen emails obtained by anti-corruption charities, Global Witness and Finance Uncovered, which say that Shell representatives were negotiating with Etete for a year before the deal was finalized. read more

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.

Leaked emails increase pressure on Shell over Nigerian oil deal

A trove of internal Shell emails seen by the Financial Times and dated between 2008 and 2010 leave no doubt that senior people within the company knew that most of the $1.3bn paid together with Eni for OPL 245 was destined for Malabu, and that much of the money would end up with Mr Etete and associates. Shell had previously said only that the money was paid to a Nigerian government escrow account.

In the intercepted phone call with Mr Henry, Mr van Beurden acknowledged Shell’s own investigation uncovered “unhelpful” and “stupid” email exchanges among former UK intelligence agents hired by the company to help negotiate the OPL 245 deal. read more

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.

The Recent Revelations About Shell And Nigeria Are “Utterly Indefensible”, Says Development Committee Chair

James Ball: BuzzFeed Special Correspondent: 10 March 2017 

The chair of parliament’s international development committee has called for the government to make clear what it is doing to investigate a $1.3 billion oil deal signed by Shell and Italian oil company ENI in Nigeria.

The call comes after BuzzFeed News and the Italian newspaper Il Sore 24 Ore published “Shell Shocks”, a cache of emails and court documents revealing that Shell top executives signed off on a deal with full knowledge that most of the money would go to Malabu, a company connected to a former Nigerian oil minister, Dan Etete. read more

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.

Recorded call reveals Shell worried Nigerian oil deal could lead to U.S. probe

Top executives at Royal Dutch Shell (RDS.A, RDS.B) last year were worried that a controversial Nigerian oil deal may have violated an agreement with the U.S. Justice Department and would prompt an investigation, according to a recorded phone call between CEO Ben van Beurden and Simon Henry, the company’s CFO at the time.

In the call, van Beurden said he was worried that Shell’s own investigators had discovered internal emails that could cast the company in a negative light and widen the investigation by drawing in U.S. authorities; the call was recorded and has now been made public. read more

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.

Shell Knew Of Bribe Payments To Nigerian Official, Global Witness Report Alleges

A recent publication of leaked emails has found evidence that Shell knowingly bribed ministers in the Nigerian government. Global Witness, an anti-corruption NGO, described the episode as “one of the worst corruption scandals in the history of the oil industry”.

The affair relates to OLP 245, an offshore oilfield in Nigerian waters that is estimated to hold nine billion barrels of oil, valued at over half a trillion dollars at current prices. read more

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.

Recording Puts Shell’s Nigerian Oil Deal Under a Harsh Light

The investigators were “quite forceful and brusque” and “rattled a few people,” Mr. van Beurden told the finance chief at the time, Simon Henry, when Mr. Henry returned his call. But Mr. van Beurden said he was also worried about something else: Shell’s own investigators had discovered internal emails that could cast the company in an even more negative light and widen the investigation by drawing in the United States law enforcement authorities. read more

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.

Eni, Shell deny wrongdoing in Nigeria after allegations of improper payment

Oil majors Royal Dutch Shell (RDSa.L) and Eni (ENI.MI) reiterated on Monday that neither they nor their personnel had been involved in any wrongdoing in Nigeria, including improper payments to Nigerian officials.

The comments follow media reports alleging how hundreds of millions of dollars from the two companies were used for illicit payments.

A joint investigation by BuzzFeed News and Italian newspaper Il Sole 24 Ore on Sunday claims to show transactions worth $1.3 billion made in 2010-2011 that Shell and Eni paid to acquire an exploration licence for an offshore oil block known as OPL 245. read more

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.

What Shell CEO Told Colleague About $1.3 Billion OPL 245 Scandal

What Shell CEO Told Colleague About $1.3 Billion OPL 245 Scandal

Mr. Van Beurden is heard on the intercept warning Henry not to volunteer any information that is not requested if approached by the police and discussing the ramifications for the company’s share price.

By Lionel Faull, Ted Jeory and Nick Mathiason

The boss of one of the world’s biggest corporations was placed under secret surveillance as part of a pan-European corruption investigation into the way the firm paid $1.3 billion for an oil block in Nigeria, explosive documents leaked to Finance Uncovered reveal.

The leak includes a recording of a wiretapped telephone conversation between Shell’s chief executive, Ben van Beurden, and his then chief financial officer, Simon Henry, in the immediate aftermath of a raid by Dutch financial police on the corporation’s headquarters in The Hague. read more

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.

Nigeria: Malabu Scandal – Jonathan Must Have Gotten $200 Million, Middleman Tells FBI, Others

Nigeria: Malabu Scandal – Jonathan Must Have Gotten $200 Million, Middleman Tells FBI, Others

Former President Goodluck Jonathan probably received as much as $200 million to approve the controversial $1.3 billion sale of OPL 245 oil field, Italian prosecutors said in court documents.

The documents, which were extracts of a thorough investigation by Italian authorities into the deal, also confirmed that Shell and ENI knew a good chunk of the $1.3 billion will be disbursed as kickbacks to Nigerian politicians, yet went ahead with the deal.

The findings were obtained by BuzzFeed and Italian business newspaper, Il Sole 24 Ore. BuzzFeed released its own version earlier today. read more

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.

As oil prices falter, fears return on BP and Shell dividends

FRIDAY, 31 MARCH 2017

LONDON: As they guided Europe’s largest oil companies through the industry’s worst slump in two decades, the bosses of Royal Dutch Shell Plc and BP Plc had a simple message for investors: we’ll protect the dividend at all costs.

Not everyone is convinced they’ll be able to keep their word.

Even after they raised billions of dollars by cutting costs, selling assets and adding debt, cash is pouring out of both companies in the form of hefty shareholder dividends. Yields on those payments – which fell through 2016 as crude started to recover – have risen this year, typically a signal that investors fear a cut in payouts. read more

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.

Big Oil Vows to Keep Dividends Up as Prices Falter

by Rakteem Katakey: 30 March 2017, 00:01 BST 30 March 2017, 11:40 BST

As they guided Europe’s largest oil companies through the industry’s worst slump in two decades, the bosses of Royal Dutch Shell Plc and BP Plc had a simple message for investors: we’ll protect the dividend at all costs.

Not everyone is convinced they’ll be able to keep their word. Even after they raised billions of dollars by cutting costs, selling assets and adding debt, cash is pouring out of both companies in the form of hefty shareholder dividends. Yields on those payments — which fell through 2016 as crude started to recover — have risen this year, typically a signal that investors fear a cut in payouts. read more

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.

The expanding Malabu quagmire

Adekunle Ade- Adeleye: March 19, 2017

IT will get to a point where OPL 245, the lucrative oil block with multiple, feuding owners, will not even recognise itself, not to talk of its owners. The block, believed to contain more than nine billion barrels of crude oil and much more natural gas, has an illustrious and convoluted history that began controversially in 1998 when the Gen Sani Abacha government awarded it to Malabu Oil and Gas Ltd, a company in which an Abacha son, a diplomat, and oil minister at the time, Dan Etete, had interests. In 2002, it was revoked by the Olusegun Obasanjo presidency and awarded to Shell, thereby prompting Malabu to sue the government and the new owners. To settle out of court, the oil block was again revoked and given back to Malabu in 2006. Naturally Shell also went to court, and in 2011 the block reverted to Shell which paid $1.3bn to the Nigerian government, $1.1bn of which was transferred to Malabu. Dizzying, complex back and forth, and labyrinthine. read more

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.