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Wake-up call to Shell India from a disgruntled retailer

Screen Shot 2013-12-30 at 10.44.02This is to get it to your notice what’s happening in Shell India. One of the worst management I have seen. Shell please wake-up and do save our retailer community in India. Some one please do exit-interviews of the retailers who have left and do justice to people who serve you. In India bribes are being taken and are being paid by the management in name of consultancy fees and incidental charges.

Introduction by John Donovan

Printed below is a comment received.  Given the length and content it seems appropriate to publish it as an article. Full contact information and related email correspondence with Shell has been supplied. The allegations suggest that Shell is continuing to ruthlessly exploit Shell petrol retailers/franchisees as it has done in other countries.

*Many years ago we conducted a series of ethical surveys involving up to 1500 Shell UK retailers and published the findings in whole page announcements in trade magazines such as “Forecourt News”. All of the sealed responses were opened and authenticated by an independent solicitor who supplied an affidavit testifying to the findings. If the allegations below have foundation, it appears that not much has changed. read more

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Shell chief Peter Voser warns of oil crunch without investment

Screen Shot 2013-10-01 at 00.26.05Some analysts have questioned whether a change in management at Shell, with Ben van Beurden due to take over in three months, could see a change in strategy to focus the company on greater returns. JP Morgan asked in a recent investor note: “Does he want to run a lowly-rated, large company or create a smaller, but premium-rated company?” 

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Royal Dutch Shell chief executive Peter Voser is to call on the global energy industry to continue investing heavily in costly new production projects in order to avoid a return to the days of record high oil prices weighing on global growth.

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Demand for energy will double over the next 50 years, Peter Voser will say Photo: Reuters

By , and Andrew Critchlow: 01 October 2013

“Supplying the world’s energy needs will be extremely tough,” Mr Voser will say in Tuesday’s speech, seen in advance by the Daily Telegraph. “Our first priority must be to invest heavily in new supplies, and to maintain it through economic and political turbulence. Failing to do so would be a sure path to another crunch and major price volatility.”

Mr Voser’s comments come amid concern that a pullback in investment by some resource and energy companies following the global financial crisis could result in future shortfalls in supply if economic activity should pick up quicker than was previously expected. read more

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Vodafone, Shell asked to file replies in tax case by 10 October

Both firms have challenged tax demands through writ petitions in high court in an alleged transfer pricing case: Shell India is fighting a tax order accusing it of underpricing an intra-group share transfer by Rs.15,000 crore and consequently evading taxes.

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=&0=& The Bombay high court on Monday asked the Indian units of Vodafone Group Plc and Royal Dutch Shell Plc to file rejoinders by 10 October to the replies filed by the income tax department in an alleged transfer pricing case.

Shell India is fighting a tax order accusing it of underpricing an intra-group share transfer by Rs.15,000 crore and consequently evading taxes.

FULL ARTICLE

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China Fracking Quake-Prone Province Shows Zeal for Gas

China won’t let earthquakes hinder its quest for energy.

Companies such as Royal Dutch Shell Plc (RDSA) and China National Petroleum Corp. are starting to drill for gas and oil in shale rock in Sichuan, the nation’s most seismically active province, a process geologists say raises the risk of triggering quakes.

“For the Sichuan basin, earthquakes are a problem for shale gas and shale oil production because of the tectonic conditions,” said Shu Jiang, a professor at the University of Utah’s Energy & Geoscience Institute in Salt Lake City. “The siting of the wells could cause some artificial earthquakes.” read more

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Shell proposes LNG project in AP, seeks Govt support

Screen Shot 2013-06-13 at 16.42.28 Hyderabad, June 13:  

A high powered team from Shell and Richard Hyde, British Deputy High Commissioner, Hyderabad on Thursday called on State Infrastructure Minister to discuss their plans to set up a LNG project in Andhra Pradesh.

The delegation including Roger Bounds, Shell Vice President Global LNG and Sander Stegenga, Shell Chief Executive Officer, Andhra LNG and other met with Ganta Srinivasa Rao, State Minister for Infrastructure and investment, port, airport and natural gas.

They were here to discuss plans for an LNG project proposed to be taken up at Kakinada deep water port. read more

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ONGC, Shell set to split $6bn gas buy

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MUMBAI: Oil and Natural Gas Corporation (ONGC) and Royal Dutch Shell will equally split the prized 20% stake acquisition in Rovuma basin gas block in Mozambique, after the sellers decided to court individual buyers due to difference in priorities.

The stake on offer is valued between $5-6 billion. Indian conglomerate Videocon Industries, which is selling 10% shares, wants to maximize the value. US based Anadarko Petroleum, the operator of the block, is offloading an equal stake but wants a pedigree global partner with better track record and execution skills.

ONGC is the frontrunner to pick up the Videocon stake while Royal Dutch Shell might end up buying Anadarko shares. The Videocon stake sale to ONGC may be announced next month. Anadarko sale to Shell is likely to take more time. read more

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Shell challenges $1 billion tax demand in Bombay HC

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Thursday, April 25, 2013

Mumbai: Global oil major Royal Dutch Shell Thursday said it has moved the Bombay High Court here, challenging the USD 1 billion demand made by the tax authorities on a four-year-old equity infusion.

“Shell confirms that it has filed a writ petition in the Bombay High Court challenging the draft tax order,” the Anglo- Dutch oil major said in a statement. The company “will continue to evaluate all options for redress available to resolve this tax dispute”, it said. read more

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Indian arm of Royal Dutch Shell accused of tax evasion

The Indian arm of Royal Dutch Shell Plc, which has been accused by the income tax authorities of underpricing an intra-group share transfer by Rs15,000 crore and consequently evading taxes, has filed a writ petition in the Bombay high court challenging the income tax order.

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Thu, Apr 25 2013. 05 57 PM IST

Mumbai/ New Delhi: The Indian arm of Royal Dutch Shell Plc, which has been accused by the income tax authorities of underpricing an intra-group share transfer by Rs15,000 crore and consequently evading taxes, has filed a writ petition in the Bombay high court challenging the income tax order.

The petition filed on Wednesday will come up for hearing on 3 May.

Mint reported on 3 February that following the notice, which is one of the biggest transfer pricing orders by the income tax department, Shell India Pvt. Ltd plans to challenge the assessment.
“Shell confirms that it has filed a writ petition in the Bombay high court challenging the draft tax order. Shell has always maintained that it will continue to evaluate all options for redress available to resolve this tax dispute,” the company in an emailed statement. read more

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Shell misses out on £1.4bn French deal

Royal Dutch Shell is poised to miss out on a £1.4bn acquisition of French oil explorer Maurel & Prom.

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Royal Dutch Shell was reported last June to have been interested in buying the Paris-listed business, which has assets in Africa and Latin America. Photo: BLOOMBERG NEWS

Ben Harrington By   Sunday 17 Feb 2013

State-backed Indonesian company Pertamina has made an indicative offer for Maurel & Prom and is in talks to buy the business, City sources claimed.

Royal Dutch Shell was reported last June to have been interested in buying the Paris-listed business, which has assets in Africa and Latin America.

However, sources said Pertamina is working with bankers from Societe Generale on a takeover and could be willing to offer up to €19 (£16) a share for the company. The Indonesian group is said to be hungry for fresh oil and gas reserves because Indonesia became a net importer in 2004 following declining production from its maturing fields and growing consumption from its own economic growth. read more

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Selection of links to Shell related articles: 17 February 2013

Screen Shot 2013-01-31 at 17.38.03Selection of links to current Shell related articles kindly provided by a regular contributor

Heat on Nigeria oil industry as sector chiefs meet: Daily Nation-Major oil industry executives gather in Nigeria’s capital for an annual … by government ministers and top officials from oil majors Shell, Exxon, …

Oil and Gas Feeding Off Each Other While They are Fueling …: Forbes-Oil and natural gas are often found alongside one another, making it … Royal Dutch Shell, meantime, acquired East Resources for $4.7 billion in …

Turkish TPAO and Shell sign agreement on oil exploration in Black …: SteelGuru-Trend reported that Turkish Petroleum Corporation TPAO and the company Shell signed an agreement worth USD 150 million on oil … 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.

Cameron may fly in to Shell India tax row

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By Andrew Callus: LONDON | Fri Feb 15, 2013 3:18pm GMT

(Reuters) – Oil company Royal Dutch/Shell has asked the British government to raise the subject of a tax dispute with India during Prime Minister David Cameron’s visit there next week, according to a source familiar with the request.

The dispute blew up earlier this month when tax authorities revalued by $2.7 billion a 2009 transaction by Shell with a wholly-owned subsidiary, and claimed a tax payment was due.

It comes as India seeks to balance its need to shore up its finances by raising tax receipts with its desire to encourage foreign investment. read more

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Shell Denies Tax Evasion in India

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By NEHA THIRANI BAGRI: February 4, 2013

The Indian unit of the Anglo-Dutch oil company Royal Dutch Shell said Monday that it would challenge a notice by the Indian tax authorities alleging tax evasion through the transfer of shares.

Deepak Mukarji, a Shell India spokesman, said that the company had received an order on Friday from the income tax department of India that accused Shell India of evading taxes by underpricing a share transfer within the group by approximately $2.8 billion.

At the center of the controversy is a share sale by Shell India to Shell Gas BV, its overseas parent , in March 2009. Shell India issued shares worth 870 million rupees ($160 million) to Shell Gas BV, or 87 million shares at a value of 10 rupees per share, but the Indian tax authorities now contend that each share was actually worth 183 rupees. 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 India In Talks With Tax Men Over Alleged Tax Evasion

Published February 02, 2013 by Dow Jones Newswires

The Indian unit of Royal Dutch Shell PLC (RDSA) Saturday said it is in talks with tax authorities in India over alleged tax evasion.

Earlier in the day, Mint newspaper, citing a person familiar with the matter, said that the Indian income tax department charged Shell India of under pricing a share transfer within the group by 150 billion rupees ($2.8 billion) and consequently evading taxes.

Citing television channel ET Now, the report also said that the income-tax order relates to the issue of 870 million shares by Shell India to an overseas company Shell Gas BV in March 2009. read more

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Shell accused of unethical conduct against Shell retailers in India

By John Donovan

We have received a copy of an email from an irate Shell retailer in India, Sabir Mohammed, accusing Shell management in India of being cheats and liars. He also makes allegations about corruption. He claims many other Shell retailers in India share his concerns. He sent his email to Royal Dutch Shell Plc Chief Executive Peter Voser and company secretary, Michiel Brandjes. The email and associated correspondence can be viewed here.

Seems Shell may be up to it old tricks again, reminiscent in some regards to dire concerns expressed in the past by Shell retailers in the UK and the USA. Including the alleged failure of Shell senior management to honour pledges to uphold Shell’s statement of general business principles promising honesty, integrity, transparency and respect for people, in all of Shell’s dealings. In our experience, all a complete sham.
read more

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Essar Energy turns around Stanlow refinery

Essar Energy plc has turned around UK’s second largest refinery Stanlow within a year of taking it over from Royal Dutch Shell, posting a pre-tax profit of USD 197 million in six month to September 30.

Essar Energy turns around Stanlow refinery

Monday, November 26, 2012, 18:31

New Delhi: London-listed Essar Energy plc has turned around UK’s second largest refinery Stanlow within a year of taking it over from Royal Dutch Shell, posting a pre-tax profit of USD 197 million in six month to September 30.

“Current price EBITDA at Stanlow rose to USD 197.2 million, compared with USD 22.2 million in the first eight months of ownership to March 2012,” the company said announcing its second quarter earnings.

Shell divested its refinery assets for not being profitable. read more

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Shell’s massive investment in China

The country is sitting on huge untapped shale gas reserves, and Shell senses opportunity.

By AlphaVN.com

One of the world’s biggest energy companies, Royal Dutch Shell (RDS.A +0.12%) is planning to invest $1 billion per year in China’s massive shale gas reserves. This natural gas, which has long been considered uneconomical to produce, has in the last decade captured investor attention due to a combination of cost effective modern drilling and extraction methods, such as fracking.

Earlier this year, China’s resource ministry revealed that it had discovered 25.1 trillion cubic meters of untapped shale gas reserves, which could fuel the country’s current natural gas needs for 200 years. The U.S. Energy Information Administration has also confirmed that China has at least 50% more shale gas in its reserves than the U.S. does, officially. read more

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Oil and Gas in the Crosshairs

By Jeff Moore, Muir Analytics

Energy companies are increasingly conducting up and downstream business in areas where they wouldn’t have gone 10 years ago – low intensity conflict zones (LICs), to be specific. The lure of profits is too great. But the physical, financial, and PR risks can be high. As Steve Coll’s recent book, Private Empire, points out, energy companies such as ExxonMobil have an increasingly critical need for threat intelligence and security not only to protect their people and assets in LICs, but also to make sound business decisions on where and where not to drill and refine. read more

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An oil giant’s road from Rajasthan to ruin

 FROM OUR AUGUST 2004 SHELL NEWS ARCHIVE…

Michael Harrison’s Outlook: An oil giant’s road from Rajasthan to ruin

“Shell, by contrast, has endured the most humiliating, torrid and damaging period in its 100-year history. It is hard to think of a more spectacular fall from grace or a more abject example of management failure.”: “The deeper it dug itself into this hole, the more Shell was forced to lie” 

Fortunes; Failure; Scramble

14 August 2004

It is a long way from the arid deserts of Rajasthan to the Shell Centre on London’s South Bank. But two events this week provide a link.

One was the announcement by Cairn Energy that it had made yet another significant oil discovery in a region of India hitherto better known for its sumptuous pink palaces and backpacking tourists. The other was the disclosure that Shell’s former head of exploration and production, Walter van de Vijver, is to receive a £2.5m pay-off after being sacked for his part in the company’s reserves scandal. read more

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Shell to shift IT jobs to India, Malaysia

From our Archives, June 2004…

Business-Standard.com: Shell to shift IT jobs to India, Malaysia

PTI / Houston June 08, 2004

In order to improve quality and save $850 million annually beginning in 2008, Shell Oil Co is cutting 600 to 800 information technology jobs in the USA and offshoring most of these jobs to India and Malaysia.

“It’s about reducing cost and improving quality,” said Anne Knisely, manager of corporate media relations for Shell Oil, which is based in Houston and is part of the Royal Dutch-Shell Group of Companies.

Currently, Shell has a total IT manpower of 9,300 personnel globally, including 2,200 in the United States. Most of the domestic IT jobs are in Houston. This cutback will be mostly among temporary staff, whose work will be transferred to low-wage countries. A Dutch IT worker costs the company $85,000 annually, compared to $20,000 for an Indian. read more

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India success makes Cairn a worthy hold

FROM OUR ARCHIVES…

Combined with an oil price higher than ever, Cairn looks to be sitting very pretty. Much to the embarrassment of Shell, of course, which sold the Rajasthan field to Cairn two years ago for just £4m.

18 May 2004

The oilfields of India are proving to be more like gold to Cairn Energy, which yesterday announced yet more success in its Rajasthan site.

The second stage of drilling following its original find has not only confirmed initial expectations but led to an upgrade in its estimated reserves. The lowest hope had been for 50 million barrels from the site; now it is for 100 million barrels.

Combined with an oil price higher than ever, Cairn looks to be sitting very pretty. Much to the embarrassment of Shell, of course, which sold the Rajasthan field to Cairn two years ago for just £4m.
read more

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ComputerWeekly.com: Shell IT staff will be well placed to find new jobs

ARTICLE FROM OUR ARCHIVES:

The global IT workforce at Shell, which totals 9,300, will fall by between 20% and 30% by 2006, with several hundred UK IT jobs at risk.

ComputerWeekly.com: Shell IT staff will be well placed to find new jobs

By Daniel Thomas

Tuesday 4 May 2004

Shell IT staff who leave as a result of the company’s plans to cut thousands of jobs in its technology division will be well placed to find employment, according to recruitment consultants.

The oil giant last week announced plans to cut thousands of IT jobs, eliminate unnecessary software applications and standardise hardware in an attempt to cut its technology budget by £475m and improve overall efficiency.

The global IT workforce at Shell, which totals 9,300, will fall by between 20% and 30% by 2006, with several hundred UK IT jobs at risk. However, worried staff should remain optimistic, said John Ellis, director of recruitment consultancy Ellis Holley Maxwell.
read more

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Shell’s revised Cove bid wins board approval

April 24, 2012, 10:32 p.m. EDT

By Alexis Flynn

— Shell’s recommended cash offer values Cove at GBP1.12 billion

— Cove is junior partner in a potentially huge natural gas field off Mozambique

— Rival bidder, Thailand’s PTT E&P, says it is considering its options

LONDON (MarketWatch) — Royal Dutch Shell PLC RDS.A +1.05% said Tuesday it had agreed a GBP1.12 billion all-cash deal to buy Cove Energy, a junior partner in a potentially huge natural-gas field off the Mozambique coast, leaving rival bidder PTT Exploration & Production PCL to consider its options. read more

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Royal Dutch Shell Remains Confident on Alaska Drilling

March 7, 2012

By Isabel Ordonez

HOUSTON — Royal Dutch Shell remains confident it will be able to start exploring for oil in the Arctic Ocean off the coast of Alaska this summer, the company’s Executive Vice President for Exploration David Lawrence said Wednesday.

“As long we continue to meet critical milestones we will drill this summer,” Lawrence told Dow Jones Newswires in an interview in the sidelines of IHS CERA conference in Houston.

Shell has been seeking permits to drill in the Beaufort and Chukchi Seas off the north coast of Alaska for several years and has spent more than $4 billion to prepare for exploratory drilling. The company has already obtained several key approvals but it still needs to cross several more regulatory barriers before it will be permitted to begin drilling in July. It also faces opposition from several environmental groups. read more

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PTT Exploration Offers $1.7 Billion for Cove, Beating Shell

PTT Exploration offered 220 pence for each Cove share, 13 percent more than Shell’s proposal, according to a statement today. Cove surged 21 percent to 235 pence in London trading, indicating investors are betting on further bids.

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Shell Bid Starts Race for African Gas Fields Bigger Than Norway’s: Energy

By Eduard Gismatullin and Fred Pals – Feb 23, 2012 9:45 AM GMT

Royal Dutch Shell Plc (RDSA)’s $1.6 billion bid for Cove Energy Plc (COV) starts a race to develop natural-gas fields off Mozambique’s Indian Ocean coast that may hold more than Norway’s entire reserves.

Winning Cove would give Shell an 8.5 percent stake in a block where Anadarko Petroleum Corp. (APC) has found 30 trillion cubic feet of gas. Italy’s Eni SpA (ENI) has discovered even more in a neighboring area. Together, there’s sufficient fuel for the development of two $20 billion liquefied natural gas plants to supply customers in Asia, according to Deutsche Bank AG. 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 fears it could be driven out of the UK over North Sea taxes

Shell warned the government not to tax it out of the UK, as it sketched out ambitious growth plans alongside an underwhelming set of results.

Chief executive Peter Voser said the Anglo-Dutch oil company was aiming to pump 4bn barrels of oil per day (bpd) by 2017, compared to 3.2bn today.

Net spending will rise from £15bn to £19bn this year as it chases its goal, although most of the difference will come from fewer asset sales, with actual investment set to rise by a more modest £1bn to £21bn.
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.

Sir Bill’s treatment at Cairn will make every board quake

The giant oil field sold for a song by Shell… it sold its 50% share to Cairn for $7.5 million, now worth billions…

James Ashton 24 Jan 2012

The momentum gained by the Government’s war on executive pay meant it was bound to claim some victims. The only surprise is that Sir Bill Gammell has become its first. As the chief executive of Cairn Energy, he was a stock market darling. The success he enjoyed after buying an unwanted Indian exploration site from Royal Dutch Shell has passed into oil industry folklore.

Cairn, which now has a market value of £4 billion, can thank the £4.5 million acquisition of an Indian exploration site for its good fortune. Sir Bill, a former Scottish rugby international, saw potential there after the big boys had given up trying. A similar spirit has given it the confidence to hunt for oil in far-flung corners of the world such as Greenland. 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 must pay $1 bn for Niger Delta clean-up: rights groups

10 Nov, 2011, 02.35AM IST, AFP

LONDON: Oil giant Shell should commit $1 billion (700,000 euros) as a first step to clean up the Niger Delta following two devastating oil spills in 2008, rights groups said Thursday.

Shell has accepted responsibility for the spills in the southern Nigerian state of Ogoniland that affected the Bodo fishing community and has agreed to pay compensation, which is currently being decided in the British courts.

But Amnesty International and the Centre for Environment, Human Rights and Development (CEHRD) accused Shell in a report of failing to act quickly enough to fix the damage and demanded the Anglo-Dutch group make the billion-dollar contribution. read more

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Asia will drive growth for Shell, says CEO

Devjyot Ghoshal

Energy-hungry Asia will remain the major growth driver for Shell, though the region’s appetite may diminish slightly next year owing to global uncertainties, the Dutch oil and gas major’s chief executive officer, Peter Voser, said on Monday.

“I think Asia-Pacific for us is the key growth region. We see a lot of growth, and, hopefully, enough growth, that can actually drive the worldwide economy coming out of Asia-Pacific,” Voser said on the sidelines of the Singapore International Energy Week. read more

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Shell touts gas benefits for Asia

Published: Sept. 23, 2011 at 8:22 AM

BANDAR SERI BEGAWAN, Brunei, Sept. 23 (UPI) — Natural gas resources will help fuel economic growth in Asia, where advances are vastly outpacing the rest of the world, a Shell executive said.

Malcolm Brinded, executive director for upstream developments at Shell, spoke to delegates at an energy conference in Brunei.

He said advancing economies in Asia, coupled with the energy deficit brought on by Japan’s nuclear power disaster, means the region needs to “invest heavily” in all resources, including solar and wind. read more

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Can BP’s investors give oil giant the time to learn from Shell’s mistakes?

Results clouded by rivals and identity crisis! Titanic court battle looms for oil company! Executives may face charges!

By Rowena Mason: 9:33PM BST 30 Jul 2011

If those headlines were meant for readers in 2011, the subject could be only one sorry corporate story: BP and its $40bn (£24bn) Gulf of Mexico oil disaster.

However, the real answer lies six years earlier in another just as painful oil scandal that hit BP’s nearest rival, Royal Dutch Shell. This was the heated reaction to news that Shell had over-stated its oil reserves by a third in the years leading to 2004.

Downgrade after downgrade kept hitting the company’s share price until matters came to a head over an email from Shell’s head of exploration to the chief executive. read more

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The black gold Shell sold for peanuts

From a Shell retiree

Hello John

You may want to have a look here:

http://www.cairnindia.com/IR/Pages/QuarterResult.

A few years ago Shell got rid of this acreage for peanuts because it was not worth having.

Cairn thought differently….

Extracts from related articles:

(1): Its site in Rajasthan, India, bought from Shell for next to nothing, has turned into a significant oil find. More recently, Cairn has negotiated a deal with India’s Oil & Natural Gas Corporation (ONGC) that allows it to participate in a joint venture to build a major refinery in Rajasthan. Given India’s growing power, this is likely to become a rather valuable asset. read more

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Shell sees future in unconventional gas

Published: June 30, 2011 at 9:44 AM

LONDON, June 30 (UPI) — A so-called revolution in gas supplies driven in part by shale-gas reserves will allay global energy security concerns, a Shell official said in London.

Malcolm Brinded, executive director of global upstream activity at Royal Dutch Shell, told delegates at an energy summit in London natural gas is one of the best ways to cut greenhouse gases and develop a secure and sustainable energy supply.

He points to analysis from the International Energy Agency that predicts a rise in global gas demand of around 60 percent, fueled by booming economies in China and India, by 2035. read more

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Shell changes talent mix to meet energy market challenges

Skilled recruitment continued as 7,000 people laid off

Royal Dutch Shell has continued recruiting despite laying off up to 7,000 staff in the past few years as it continuously “reprofiles” its talent mix, its HR chief HR has said.

Hugh Mitchell (right), Shell’s chief HR and corporate officer, told the Economist’s Talent Management Summit yesterday that as demand for energy increases worldwide, employers in the sector face a “phenomenal” skills challenge.

New energy demands from countries such as China and India are putting more pressure on the industry to get the right talent, he told delegates at the London event. read more

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Shell Approves Floating LNG Project

May 20, 2011

By ROSS KELLY

SYDNEY—Royal Dutch Shell PLC on Friday approved construction of a giant vessel designed to chill natural gas for export at sea, allowing it to unlock gas deposits stranded hundreds of miles from land.

Similar vessels are being considered for several projects in deep water around the world where piping gas back to land to be liquefied would be too costly. Shell’s final investment approval for its Prelude floating liquefied natural gas development marks the first time that construction of such a vessel has been approved anywhere. read more

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Royal Dutch Shell Sells Refinery, Other Assets To Essar For $1.3B

MARCH 29, 2011

LONDON (Dow Jones)–Royal Dutch Shell PLC (RDSA.LN) Tuesday announced it has signed a sales and purchase agreement for its 270,000 barrel-per-day Stanlow refinery in the U.K. and certain associated local marketing businesses with Essar Oil Ltd. for $1.3 billion.

MAIN FACTS:

-The proposed sale covers oil products, chemicals manufacturing and access rights to certain distribution terminal assets, plus the commercial fuels bulk fuels and local marine fuels businesses associated with the refinery. read more

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Shell poised to sell Stanlow oil refinery to Indians in £700m deal

By Tom Mcghie
Last updated at 10:15 PM on 19th March 2011

Attractive prospects: Stanlow oil refinery in Cheshire has huge storage depots

Shell is to sell its Stanlow oil refinery, the second-biggest in Britain, to fledgling Indian energy giant Essar Energy in a deal worth more than £700 million.

The refinery on the 1,900-acre site in Ellesmere Port, Cheshire, will be sold for £217 million while the oil and petrol in the refinery will be sold off separately for nearly £500 million.

When the deal is completed all 960 workers will be retained and, in an unusual concession by an employer, will be able to keep their generous and increasingly rare final salary pension scheme. read more

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Joint Statement by Shell Stanlow refinery parties

Joint Statement from Shell, Essar and the Employee Representatives from the consultation meeting held 14th March 2011

Shell and Essar management have today formally met for the second time to consult with the employee representatives for Stanlow refinery and the associated marketing businesses.

This has included sessions with both non-unionised and unionised representatives on general terms and conditions (as outlined at the first meeting) plus a joint session on pensions.

In response to concerns raised on pensions, Essar recognised the value that Stanlow employees attach to the pension provision and have revised their defined benefit pension proposals.  These now provide for the replication of the Shell pension benefits in the Essar pension plan, so that existing staff will retain their current pension benefits. read more

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Essar’s Stanlow deal hits union bump


S Kalyana Ramanathan / London March 5, 2011, 0:34 IST

Essar Energy’s $350-million deal to buy Shell UK’s oil refinery and associated assets at Stanlow, near Ellesmere Port, Cheshire, has hit a road block. The employee union has rejected the deal in its current form due to differences over pension payout and other issues.

Union members who spoke to Business Standard after the first round of consultation on March 1 said that while they were keen to become part of the Essar Group, they would not allow Shell to wash its hands off certain agreements it had entered into with the employees. read more

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Refinery workers reject plans for Shell Stanlow sale to Essar

Out of the frying pan and into the fire… to go from a situation that is bad, to one that is even worse…

By John Donovan

Representatives of the Unite union had a meeting on 1 March with Shell and Essar to discuss the proposed employee transfer arrangements arising from Shell’s pending sale of the Stanlow Refinery to Essar Oil.

Unite was appalled at the proposed plans and is accusing Shell of reneging on its final salary pension scheme promise to employees when they joined the company.

The union says:

“We cannot allow Shell to walk away from their obligations to their loyal staff”.

Workers also have deep concerns over Essar’s alleged ruthless track record in the treatment of employees arising from Essar acquisitions in North America. read more

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Essar Energy to provide $1bn bank guarantee for Shell’s Stanlow refinery

21 Feb, 2011, 06.35AM IST, Pradeep Pandey,ET Bureau

MUMBAI: Essar Energy will provide a bank guarantee of $1 billion to close the offer it made to acquire Shell’s Stanlow refinery in the UK, according to a person who is part of ongoing negotiations with banks. This bank guarantee would be over and above the $350 million that Essar Energy agreed to offer for the assets of Stanlow refinery.

“The company (Essar) will finalise the bankers who will furnish the guarantee in the next three to four months,” said the person who requested anonymity as the transaction is still underway. read more

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Essar agrees break fee on Shell’s Stanlow

FT.com

By David Blair in London and Tom Burgis in Mumbai: Published: February 19 2011 01:30

Essar Energy has taken a significant step towards buying Shell’s refinery at Stanlow, on the south bank of the Manchester Ship Canal near Ellesmere Port in Cheshire.

Essar has until March 31 to confirm that it wants to buy Stanlow. If it decides not to proceed, it will be liable for a break fee of $50m. If Essar decides to go ahead, Shell will have three days to decide whether to accept – and it will be liable for a $10m fee if it turns down the offer. read more

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Essar may pump Indian fuel into UK

Petrol from India is likely to find its way into the UK market for the first time, after Essar Energy bought Royal Dutch Shell’s Cheshire oil refinery for $350m (£216m).

Essar may pump Indian fuel into UK Photo: ALAMY Rowena Mason By Rowena Mason 7:15AM GMT 19 Feb 2011

It is the latest deal in the struggling UK refining industry, which has found it difficult to stay profitable in recent years and is expected to face increasing global competition.

The $350m price tag is about half what Shell was initially expected to get for the Stanlow refinery, following 18 months of negotiations with Essar.

The Indian company, which listed on the FTSE 100 last year, has promised that jobs will be safe and the refinery will remain open.

A spokesman for Essar said the company had already identified a number of investments it wanted to make to increase output from 75pc to nearer 100pc capacity. read more

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Essar Energy, Shell may sign U.K. refinery pact

Feb. 18, 2011, 2:08 a.m. EST

By Eric Yep

MUMBAI (MarketWatch) — India’s Essar Energy PLC (ESSR.LN) is likely to sign an initial agreement this week for a possible acquisition of Royal Dutch Shell PLC’s (RDSB.LN) Stanlow refinery in the U.K., a person with direct knowledge of the matter said Friday.

London-listed Essar Energy and Shell are in the final stages of discussions and will likely announce exclusive talks on the refinery sale this week, the person, who declined to be named, told Dow Jones Newswires. read more

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Essar Oil to buy Shell UK unit for $350-400 mln – sources

By Indulal P.M.

MUMBAI | Thu Feb 17, 2011 11:09am IST

(Reuters) – Indian refiner Essar Oil is set to buy Royal Dutch Shell’s Stanlow refinery in the United Kingdom for about $350 million to $400 million, two sources with direct knowledge of the development told Reuters.

The two companies have agreed on the terms and an announcement is expected soon, said the sources, who declined to be named as they were not authorised to speak to the media before an official announcement. read more

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OIL PRICES TO SOAR AS DEMAND KEEPS RISING, SAYS SHELL

Tuesday February 15,2011
By Andrew Johnson, Deputy City Editor

OIL prices are set to surge in coming years as supply fails to keep up with burgeoning demand from the booming growth in emerging market economies, Royal Dutch Shell said yesterday.

The oil giant’s warning came as the Brent Crude price hit a 28-month high of $104 on the back of turbulence in the Middle East and rising imports to China.

In a report published yesterday, Shell said demand for energy in 2050 would triple ­compared with levels seen in 2000 while supplies may only grow by 50 per cent. read more

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Shell Said to Offer Gazprom Assets to Gain LNG Plant Expansion

By Anna Shiryaevskaya – Feb 7, 2011 9:00 PM GMT+0000

Royal Dutch Shell Plc may offer OAO Gazprom assets in Asia in exchange for a deal to expand Russia’s only liquefied gas export plant, part of talks on a wider global alliance, said people with knowledge of the negotiations.

Shell wants to add a third liquefied natural gas production unit at the $22 billion Sakhalin-2 venture north of Japan, raising output 50 percent. The Hague-based company is selecting overseas assets to win support from Gazprom, said three people, declining to be identified because the plans are private. Shell may gain access to new offshore blocks to supply the plant. read more

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Essar finalises to buy Shell’s UK refinery for $350 mn

19 Jan, 2011, 03.17PM IST, Darshan Mehta,ET

MUMBAI: Essar Oil has finalised the acquisition of Shell’s Stanlow refinery in UK for $350 million dollars, a source close to the deal told ET NOW. The Stanlow refinery is part of the Royal Dutch Shell group with a capacity of 2.37 lk barrels per day. The deal will be announced in the first week of February.

As per the deal, Essar will pay $50 million on signing of the deal, another $100 mn on closing of the deal and $100 mn dollars each in the next 2 years after closing the deal. With crude prices over $91 per barrel, the refining business is becoming more attractive and the sector as such is seeing a turnaround on higher energy demand. European companies are selling their non profitable plants to cut expenses and they fit into Indian refiners global strategy of expansion. read more

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Essar Reopens Talks to Buy Shell’s Stanlow Refinery, Times Says

By Lucy Meakin – Jan 16, 2011 1:35 PM GMT+0000

India’s Essar Oil Ltd. reopened talks to buy Royal Dutch Shell Plc’s Stanlow refinery, the Sunday Times reported, citing an unidentified company spokesman.

Shell has given Essar six weeks to submit a firm bid for the U.K. facility, the London-based newspaper said, citing people close to the situation.

To contact the reporter on this story: Lucy Meakin in London at [email protected].

To contact the editor responsible for this story: Daniel Tilles at [email protected]. read more

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Essar bids for Shell’s Stanlow refinery -union rep

Reuters Africa

Tue Dec 21, 2010 1:17pm GMT

* Essar makes bid, given deadline to make firm offer

* Shell will withdraw plant from sale if no deal

* Shell continues to withdraw from European refining

By Tom Bergin

LONDON, Dec 21 (Reuters) – Royal Dutch Shell Plc has told employees at its Stanlow refinery that India’s Essar group has made a “credible” bid for the plant, a union official said.

A Shell spokesman confirmed that the Anglo-Dutch oil giant was in talks with Essar and had given the group until the end of February to come up with a firm bid. read more

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