Jun 1st, 2021
by John Donovan.
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REUTERS
OPEC, Russia seen gaining more power with Shell Dutch ruling
Dmitry Zhdannikov: June 1, 2021
Climate activists who scored big against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia.
Defeats in the courtroom and boardroom mean Royal Dutch Shell (RDSa.L), ExxonMobil (XOM.N) and Chevron (CVX.N) are all under pressure to cut carbon emissions faster. That’s good news for the likes of Saudi Arabia’s national oil company Saudi Aramco…read more
(Bloomberg) — Negative oil prices, ships dawdling at sea with unwanted cargoes, and traders getting creative about where to stash oil. The next chapter in the oil crisis is now inevitable: great swathes of the petroleum industry are about to start shutting down.
The economic impact of the coronavirus has ripped through the oil industry in dramatic phases. First it destroyed demand as lockdowns shut factories and kept drivers at home. Then storage started filling up and traders resorted to ocean-going tankers to store crude in the hope of better prices ahead.read more
Jan 17th, 2020
by John Donovan.
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JANUARY 17, 2020
MOSCOW (Reuters) – Gazprom Neft, Russia’s third largest oil producer, believes Moscow’s cooperation with OPEC on output will continue into the long term, Deputy Chief Executive Vadim Yakovlev told reporters on Friday.
He praised the decision by OPEC and non-OPEC nations, a group known as OPEC+, to exclude Russian gas condensate from Moscow’s quotas under their latest agreement to curb output, a move that allows Gazprom Neft to expand its condensate production.read more
Mar 12th, 2019
by John Donovan.
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By Kevin Crowley: 11 March 2019, 16:16 GMT: Updated on 11 March 2019, 22:56 GMT
European major ‘actively looking’ for targets, Sawan says
Upstream director-in-waiting declines to comment on Endeavor
Royal Dutch Shell Plc is on the hunt for deals to bulk up its position in the Permian Basin, where it lags rivals Exxon Mobil Corp. and Chevron Corp.
“We are definitely actively looking at opportunities,” Wael Sawan, Shell’s deepwater boss, said in an interview on the sidelines of IHS Markit’s CERAWeek conference on Monday. “If none ever come up then that’s a disappointing outcome.” Sawan is set to lead the European supermajor’s entire upstream division in July.read more
SINGAPORE (Reuters) – Australia overtook Qatar as the world’s largest exporter of liquefied natural gas (LNG) for the first time in November, data from Refinitiv Eikon showed on Monday.
The surge in Australian exports follows the start up of a number of export projects in the country over the past three years, most recently the Ichthys project offshore its northern coast.
In November, Australia loaded 6.5 million tonnes of LNG for exports while Qatar exported over 6.2 million tonnes, the data showed.read more
Sep 25th, 2018
by John Donovan.
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25 Sept 2018
Royal Dutch Shell CEO Ben van Beurden says $80 oil is not “unreasonable” and will help fuel spending on oil and gas infrastructure after a period of underinvestment.
The Trump administration’s steel quotas are beginning to impede some of Shell’s construction projects in the United States, van Beurden said.
Shell has not yet canceled any construction due to the trade barriers, and it is driving down the cost of its offshore projects.
The Trump administration’s steel quotas present a challenge to building new oil and gas infrastructure in the United States, but rising crude prices help fuel investment, Royal Dutch Shell CEO Ben van Beurden tells CNBC.
International benchmark Brent crude hit a nearly four-year high above $81 a barrel on Monday as the market braces for U.S. sanctions on Iran that threaten to wipe about 1 million barrels a day off the market. Brent’s multiyear high came after OPEC, Russia and other oil producers declined to boost output to tackle rising prices.read more
Sep 2nd, 2018
by John Donovan.
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Along with Royal Dutch Shell, Total was among the first energy companies to halt crude oil purchases from the Islamic Republic, fearing repercussions if they failed to do so.
As Iran is turning to the UN’s International Court of Justice to have the US-imposed sanctions against its oil suspended, the EU is preparing for the hit its economies will have to absorb once the full weight of Washington’s punitive measures comes into effect in the fourth quarter of this year. With these latest moves, American intentions are clear: cut off Iranian oil from the market entirely and reduce Tehran’s financial power. As oil prices rise, however, the White House’s policy looks set to hurt more countries than just Iran. Will Europe’s economies take the hit – or will they fight back?read more
May 24th, 2018
by John Donovan.
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Nigeria: Shell’s Oil Spill Dispute With Nigerian Villagers Back in UK Court
By Ejiofor Alike with Agency Reports
Lawyers for the Bodo community in Ogoniland of Rivers State, which was devastated by two major oil spills in 2008, went to court in London yesterday to fend off what they said was an attempt by Shell to kill off their litigation.
This is coming as crude oil price rose briefly to $80 per barrel yesterday after the United States toughened its stance on Iran and Venezuela, key oil producers and members of the Organisation of Petroleum Exporting Countries (OPEC).
The Bodo oil spills have been the subject of years of legal wrangling.read more
DUBAI (Reuters) – Royal Dutch Shell (RDSa.L) is fully committed to its gas joint venture in Iraq, after the energy major exited its oil assets in the OPEC country, and plans to boost its gas output there to 1.4 billion cubic feet (bcf) a day by 2020, a senior executive said.
Iraq’s gas development plans have long focused on Basra Gas Co (BGC), a $17 billion, 25-year project in which Iraq has 51 percent, Shell 44 percent and Japan’s Mitsubishi Corp (8058.T) 5 percent.
The project was designed to aggregate gas from fields in the south including West Qurna 1, operated by Exxon Mobil Corp (XOM.N); Zubair, operated by Italy’s Eni (ENI.MI); and Rumaila, developed by BP (BP.L).read more
Oil major Shell has snapped up over 8 million barrels of June-loading crude oil grades from the Middle East and Russia and has resold some of the cargoes in Asia, taking advantage of the strong Asian demand, Reuters reported on Friday, citing five trading sources.
Wider Brent premium over the Middle Eastern benchmark Dubai this month has made Atlantic crude oil supplies more expensive than the Middle Eastern and Russian supplies, which are priced off the Dubai benchmark.read more
Mar 23rd, 2018
by John Donovan.
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Reuters Staff: MARCH 23, 2018
(Reuters) – Oil major Royal Dutch Shell on Friday agreed to sell its entire stake in Iraq’s West Qurna 1 oilfield to Japan’s Itochu Corp for $406 million.
The deal comes shortly after the Anglo-Dutch company agreed to exit the Majnoon oilfield, one of the largest fields in OPEC member Iraq, and hand over its operation to state-run Basra Oil Co (BOC) by end-June.
Shell EP Middle East Holdings B.V. will sell the entire share capital of Shell Iraq B.V. (SIBV), which holds a 19.6 percent stake in the oilfield to a unit of Itochu, the Anglo Dutch company said.read more
The authoritative International Energy Agency announced on Monday that the United States will overtake Russia and Saudi Arabia as the world’s largest crude oil producer in five years .
To celebrate this once-unimaginable news, how about taking a trip down memory lane? The date is May 5, 2011. Diarmuid O’Connell, then the vice president of business development for Tesla, Elon Musk’s electric-car outfit, is testifying before the House Energy and Commerce Committee.read more
Mar 6th, 2018
by John Donovan.
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Forecasters at Royal Dutch Shell, the Anglo-Dutch oil major, have predicted that global oil demand could peak within a decade as electric cars and other clean energy technologies gain larger market shares.
March 5, 2018Updated: March 5, 2018 8:42pm
Houston’s energy industry, which drives the local economy, has much brighter days ahead as global oil demand climbs, shale production booms and U.S. crude grabs larger shares of global markets, according to forecasts, industry officials and analysts.
The United States is already pumping oil at record levels above 10 million barrels a day, surpassing Saudi Arabia, and may take over from Russia as the world’s production leader by the end of 2018. Over the next five years, daily U.S. production is expected to climb 3.5 million barrels, or 35 percent, to more than 13 million barrels, according to a forecast by the International Energy Agency, which monitors the global oil industry.read more
Feb 9th, 2018
by John Donovan.
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FILE PHOTO: Filled oil drums are seen at Royal Dutch Shell Plc’s lubricants blending plant in the town of Torzhok, north-west of Tver, November 7, 2014. REUTERS/Sergei Karpukhin/File Photo
Ayenat MersieEjigu: 8 FEB 2018
NEW YORK (Reuters) – Oil prices fell to their lowest in seven weeks on Thursday amid fears of rising global supplies after Iran announced plans to increase production and U.S. crude output hit record highs.
Brent futures LCOc1 fell 70 cents, or 1.1 percent, to settle at $64.81 a barrel, their lowest close since Dec. 20.
U.S. West Texas Intermediate (WTI) crude CLc1, meanwhile, was down 64 cents, or 1 percent, to settle at $61.15, its lowest close since Jan. 2.
Both benchmarks fell for the fifth straight day, the longest losing streak for Brent since November 2017 and for WTI since April 2017.
Brent futures have lost as much as 15 percent since hitting a four-year high above $71 in late January.read more
Jan 29th, 2018
by John Donovan.
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A pump jack in a Permian Basin oil field in West Texas. The area has been a focus of the shale drilling boom.Credit Spencer Platt/Getty Images North America
HOUSTON — A substantial rise in oil prices in recent months has led to a resurgence in American oil production, enabling the country to challenge the dominance of Saudi Arabia and dampen price pressures at the pump.
The success has come in the face of efforts by Saudi Arabia and its oil allies to undercut the shale drilling spree in the United States. Those strategies backfired and ultimately ended up benefiting the oil industry.
Overcoming three years of slumping prices proved the resiliency of the shale boom. Energy companies and their financial backers were able to weather market turmoil — and the maneuvers of the global oil cartel — by adjusting exploration and extraction techniques.read more
Jan 24th, 2018
by John Donovan.
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Ron Bousso: 24 JAN 2018
LONDON (Reuters) – The world’s top oil companies are expected to generate more cash in 2018 than at any other time this decade after three painful years of cuts, but it isn’t party time yet.
The shift in sentiment has been rapid as crude prices have risen by more than 50 percent over the past six months to reach $70 a barrel, a level not seen since the crash year of 2014, thanks to global supply cuts led by OPEC.
Only a year ago, many investors still fretted over the sustainability of the sector’s lavish dividend payouts in a weak energy market. Now the focus on company boards is gradually switching from slashing jobs and investment to boosting shareholders’ returns and growth.read more
Jan 2nd, 2018
by John Donovan.
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Claire Poole , CONTRIBUTOR: 29 Dec 2017
No doubt about it, it’s been a tough three years for the oil and gas industry, which has been wracked by lower oil prices, a raft of bankruptcies and a lack of investor confidence. Stocks of oil and gas explorers and producers, oil and gas equipment and services providers and oil and gas drillers were three of the eight worst performing sectors this year, according to a recent report from Fidelity Investments.
But analysts at RBC Capital Markets – which is known for its oil and gas coverage – think the energy cycle has hit its low and is now entering the second full year of recovery. They say the “oil macro” continues to firm, global inventories are dropping and oil prices have begun to respond to tightening supply-demand. “Excess capacity throughout the energy chain continues to be absorbed,” they say.
The firm thinks exploration and production money flow globally will continue to skew to North America, especially West Texas’ and New Mexico’s Permian Basin, although they say they are starting to see oil companies “dust off” their international and offshore projects as well.read more
Hall didn’t declare oil was dead; indeed, he warned his withdrawal could be a contrarian signal (which turned out to be prescient).
Hall’s capitulation was a warning of a different kind. And while it may be mere coincidence, the appearance of something called OilCoin four months after God bowed out is a fitting coda.read more
Dec 27th, 2017
by John Donovan.
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Three years after causing an oil-price crash, the shale boom may not be enough to meet rising global demand because the industry has cut back so sharply on higher-risk mega-projects.
Discoveries of new reserves this year were the fewest on record and replaced just 11 percent of what was produced, according to a Dec. 21 report by consultant Rystad Energy. While shale wells are creating a glut now, without more investment in bigger, conventional supply, the world may see output deficits as soon as 2019, according to Canadian producer Suncor Energy Inc.read more
Dec 15th, 2017
by John Donovan.
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BY HENNING GLOYSTEIN: DECEMBER 15, 2017
* OPEC-led supply cuts, Forties pipeline outage support crude
* But rising U.S. output, driven by shale, weighs on market
SINGAPORE, Dec 15 (Reuters) – Oil markets were stable on Friday as the Forties pipeline outage in the North Sea and the ongoing OPEC-led production cuts supported prices, while rising output from the United States kept crude from rising further.
U.S. West Texas Intermediate (WTI) crude futures were at $57.13 a barrel at 0119 GMT, up 9 cents from their last settlement.read more
Nov 18th, 2017
by John Donovan.
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Robert Miller: November 18 2017
Oil prices rose 2.2 per cent yesterday amid expectations that Opec will agree to extend curbs on production at its meeting this month.
Brent crude, the international benchmark, was trading at $62.72 a barrel, reversing four consecutive days of losses.
Separately, it emerged that the world’s most powerful oil trader, Mike Muller, of Royal Dutch Shell, would step down after 29 years with the company.
Mr Muller, known for handling as many as eight million barrels of oil per day, left after the appointment of Andrew Smith as Shell’s new head of supply and trading. He is set to leave at the end of the year.read more
Royal Dutch Shell is hedging its bets over the next two decades with expectations that motor fuel consumption will be diminishing and other markets rising.
Since the oil price plummet it 2014, Shell has transitioned its business model over to refining oil, offering other refined oil products, and producing petrochemicals. The oil giant will produce well beyond gasoline to serve other growing economic sectors, and to offset the role EVs will play by the 2030s.read more
Global oil prices broke above two year highs and could climb higher to hit $70 a barrel in the wake of a shock anti-corruption purge of Saudi royals and senior officials.
Oil prices bounded to highs not seen since July 2015 at over $64 a barrel on Monday following a sweep of arrests targeting ministers, investors and members of the Saudi royal family on corruption charges over the weekend.
The shock crackdown also helped drive shares in Royal Dutch Shell to within a breath of its highest ever share price at £24.89 following the company’s rosy financial results last week. Before the oil price crash in late 2014 the company’s shares traded at a peak of £25.76.read more
Royal Dutch Shell has reported nearly 50% increase in profits following improvement in energy prices which fueled a turnaround of its upstream division.
In the first three quarters of 2017, Royal Dutch Shell generated $15.42 billion of free cash flows (ex. working cap. changes), surpassing even the industry’s cash flow king Exxon Mobil.
Oil prices have climbed to almost $61 a barrel and could stay at this level in the future, which could give a major boost to Shell’s earnings and cash flows.
Royal Dutch Shell (RDS.A, RDS.B) is a well-oiled cash flow machine. In fact, it generates more free cash flows than any other oil majors, and this was evident from the latest quarterly results. The Anglo-Dutch oil giant could get even better in 2018 on the back of improvement in oil prices. The company’s shares will likely move higher while its valuation might also improve.
Latest Earnings
Royal Dutch Shell has recently released blowout quarterly results in which it posted significantly higher profits following a strong performance from its upstream, downstream and integrated gas divisions. The company reported an adjusted net profit (attributable to shareholders on a current cost of supplies (CCS) basis) of $4.1 billion, up 47% from the same quarter last year. That blew past the company-provided analysts’ estimate of $3.6 billion. The profits at the upstream segment ballooned from just $4 million a year earlier to $562 million. The profits at the downstream and integrated gas segments rose 28.4% and 37.7% to $2.67 billion and $1.28 billion respectively.read more
Oct 10th, 2017
by John Donovan.
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Ron Bousso, Clara Denina: OCTOBER 10, 2017 / 3:55 PM
LONDON (Reuters) – Royal Dutch Shell (RDSa.L) is seeking to sell its 17 percent stake in the Mukhaizna oil field in Oman, which could fetch up to $200 million, banking sources said.
The sale process is led by investment bank Rothschild, the sources said.
Shell and Rothschild did not respond to requests for comment.
The Mukhaizna heavy oil field, operated by Occidental Petroleum (OXY.N), reached an average oil production rate of 127,000 barrels of oil equivalent per day in 2016, according to Occidental’s annual report.read more
Sep 27th, 2017
by John Donovan.
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Step aside OPEC, diesel is now driving up oil prices.
With industrial activity surging worldwide, the fuel — known in the industry as ultra-low sulfur diesel or ULSD — is enjoying strong demand, accelerating total oil consumption growth in 2017 well above the 10-year average.
And just as demand rose faster than expected, diesel supply was hit, prompting a rapid tightening. First in Europe: the Pernis refinery, owned by Royal Dutch Shell Plc and considered one of the region’s diesel machines, suffered a fire in July and shut down for several weeks. And then in the U.S., where hurricane Harvey in late August temporarily knocked out a dozen refineries, disrupting both domestic supplies and distant export markets.
“The oil market is currently driven by four letters: It’s ULSD, not OPEC,” said Olivier Jakob, managing director of consultant Petromatrix GmbH.read more
It’s “not unreasonable” to expect oil prices at $60 a barrel by the end of the decade, Royal Dutch Shell CEO Ben van Beurden told CNBC’s “Managing Asia.”
To be sure, that’s not a large rise from current levels.
Brent crude rose 0.38 percent to trade at $58.66 a barrel in Wednesday Asia trade, after hitting a 26-month high on Tuesday, while U.S. crudewas higher by 0.5 percent at $52.14 at 12:00 p.m. HK/SIN.read more
Sep 25th, 2017
by John Donovan.
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OPEC and its allies need to extend their crude production cuts beyond March 2018 to rebalance the global oil market, a top executive at BP Plc’s trading arm said.
“Rebalancing is already on the way,” Janet Kong, Eastern Hemisphere Chief Executive Officer of integrated supply and trading at BP, said in an interview in Singapore. But OPEC needs “definitely to cut beyond the first quarter” to bring inventories down and back to historically normal levels, she said.
The view from BP follows a gathering in Vienna by the Organization of Petroleum Exporting Countries and its partners that concluded with no decision on an extension or deepening of supply cuts. Oil has struggled to hold above $50 a barrel in 2017 as investors weighed signs of a whittling worldwide crude glut against concerns the U.S. will boost oil production.read more
Sep 24th, 2017
by John Donovan.
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OPEC’s commitment to cutting production to clear a global glut is working, but the group needs to address rising output from Libya and Nigeria, Iran’s Oil Minister Bijan Namdar Zanganeh said.
Compliance with the output cuts is “acceptable,” Zanganeh told reporters in Tehran. The Organization of Petroleum Exporting Countries should focus on “the situation with Libya and Nigeria,” he said, referring to the two countries exempted from capping production due to their internal strife.read more
Brent bouncing up to over $55/barrel is big news that I think has been under-reported in the financial media.
Overview of Shell’s finances and significance of higher Brent prices.
In light of material increases in realized upstream prices and an improving downstream sector, Royal Dutch Shell plc’s (NYSE:RDS.A) (NYSE:RDS.B) financials have shown tremendous improvement this year. The worst of the downturn is behind the oil sector, but keep in mind crude prices remain range-bound. That being said, with Brent (global oil benchmark) back over $55/barrel (high end of the range), things are looking brighter and brighter for Royal Dutch Shell every day. Especially when it comes to fully covering Royal Dutch Shell plc Class A and Class B shares’ lofty 6+% yields. Let’s dig in.read more
Sep 8th, 2017
by John Donovan.
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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
Sep 4th, 2017
by John Donovan.
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“There were a few mishaps in BG that really hammered their share price and we saw them coming into this funny situation where the share price came down, but we could only see the value go up so we needed to take a hardened look at it again,” Mr van Beurden said. “And then while we were looking at it the oil price started crashing, which actually opened the window even further.”
Energy editor Rita Brown heads to the Hague to hear exclusively how Shell’s chief executive has viewed the last three years since the oil price crash
Ben van Beurden’s rise to the top coincided with the oil price riding the crest of a wave.
But for a man who assumed Shell’s chief executive role just months before it all came crashing down, he sums up the last three years as “a blessing”.
“Less than a year into my new role, the oil price started going down and it’s been quite a journey, but if I look back on it I think this is probably the biggest blessing that I’ve had,” he said.
“It has done two things. First of all it provided a tremendous amount of focus on the things that needed doing. I mean, there’s nothing like a crisis to focus on cost efficiency.read more
Canada’s oil industry has faced a lot of strain lately. The list of oil majors selling off assets and withdrawing from high-cost oil sands is long. ConocoPhillips, Royal Dutch Shell, Marathon Oil, Murphy Oil and Statoil have sold upwards of $25 billion worth of oil sands assets this year. ExxonMobil also wrote down more than 3.5 billion barrels of oil reserves in Canada at the beginning of 2017. The companies viewed Alberta’s bitumen and heavy oil as no longer competitive in a $50 market, and many of them are focusing on other types of production, such as shale.read more
Aug 21st, 2017
by John Donovan.
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Royal Dutch Shell Plc, the world’s largest oil trader, is said to have loaded its first crude from Libya in five years over the weekend, adding to evidence of the OPEC nation’s comeback.
The cargo on Saturday is for 600,000 barrels of crude from the Zueitina port, according to two people familiar with the matter who asked not to be identified because the information is private. A Shell spokesperson declined to comment on the shipment, but said the company’s Shell International Trading & Shipping “has a history marketing Libyan crudes. We welcome new business opportunities with Libya’s National Oil Corp.”read more
Aug 4th, 2017
by John Donovan.
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LAGOS, Aug 3 (Reuters) – Nigeria’s state oil company said on Thursday it had signed financing agreements with Chevron and Shell worth at least $780 million to boost crude production and reserves.
The Nigerian National Petroleum Corporation (NNPC) said a joint venture agreement with Chevron Nigeria Limited would see the development of proven and probable reserves of 211 million barrels at the joint Sonam project.
“The project is expected to begin to bear fruits in (the) next three and six months,” NNPC said in a statement, adding it was targeting production of 39,000 barrels per day of liquids and 283 million standard cubic feet of gas per day.read more
Aug 2nd, 2017
by John Donovan.
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A fire outage at the largest oil refinery in Europe, a Royal Dutch Shell facility in the Netherlands, is ongoing, driving up prices of oil derivatives.
Dow Jones Newswires
Shares of energy producers ticked down as the price of oil foundered around the psychologically significant $50-a-barrel level. Among the data weighing on oil prices was a Reuters survey showing that OPEC production rose to its highest level in seven months last month. BP said it could now turn a profit with oil prices at these levels, saying its could break even with oil as low as $47 a barrel. BP swung to a second-quarter profit even as it absorbed further costs from the 2010 oil spill and as oil futures remained stuck in the $40s. A fire outage at the largest oil refinery in Europe, a Royal Dutch Shell facility in the Netherlands, is ongoing, driving up prices of oil derivatives.read more
You wait decades for an existential crisis, then two come along at once. At least that’s how it must feel for OPEC’s beleaguered ministers. In the short term the market for their oil is being eroded by rising production outside their control. Looking further ahead, oil demand itself is under threat from the electrification of road transport. OPEC may not yet be dead, but its days are surely numbered.
The most obvious short-term threat to the group comes from the rapid rise in U.S. shale oil, but the risks have expanded to include other areas like Brazil’s prolific sub-salt discoveries and more recent finds further north along the east coast of South America.read more
LONDON (Reuters Breakingviews) – Royal Dutch Shell is great at producing profit, but less so at producing oil. The Anglo-Dutch energy giant has more than tripled its earnings in the second quarter, helped by the strong performance of its downstream refining business and recovering prices. With its debt falling too, the company is doing the right things for shareholders – except in the crucial area of pumping more fuel.
At first glance, Shell’s financial performance suggests that three years in the doldrums for big oil majors may have come to an end. On Thursday, the company reported an impressive 245 percent year-on-year rebound in clean earnings to $3.6 billion for the three-month period ending in June. Prices, which recovered from a slump last January below $30 per barrel, have helped, but there is more to it.read more
Jul 27th, 2017
by John Donovan.
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By REUTERS:
LONDON/PARIS — Europe’s major oil and gas companies have turned a corner after a three-year slump, reporting strong growth in profits as cost cutting paid off and vowing to press on with saving more money amid a fragile recovery in oil prices.
Royal Dutch Shell, France’s Total and Norway’s Statoil reported sharp increases in cash flow from operations in the second quarter as profits beat analyst expectations, meaning they can all comfortably pay dividends and reduce debt.read more
Iran is on track to reach a major national milestone this year, if the nation’s oil spokesmen are to be believed. On Wednesday deputy oil minister Amir Hossein Zamaninia predicted oil production would reach 4 million bpd by the end of 2017, and certainly exceed that level by the end of the Iranian calendar year (March 2018).
Since international sanctions on its oil and gas industry were lifted in January 2016, Iran has managed to increase production to pre-sanctions levels, reaching 3.8 million in May 2017, the highest level in seven years. But 4 million bpd, long a national goal and symbolic of a full recovery, is now within reach.read more
Jul 5th, 2017
by John Donovan.
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ExxonMobil, Chevron, Total, Royal Dutch Shell, and British Petroleum are the five biggest players on the index, which includes 85 other majors. Together, they have lost $115 billion in market value since the beginning of April, Bloomberg reports, according to World Oil.
Operational improvements in shale and non-shale oil drilling, on top of lower expenses for oilfield services and access to pipeline capacity, have driven down the costs of producing the fossil fuel since the 2014 market crash. But the increase in output has forced barrel prices into a deeper bearish market, causing further damage to corporate bottom lines.
This trend is mapped clearly in the MSCI’s World Energy Index, which measures the progress of large and medium sized companies in 23 oil-producing countries on a quarterly basis. ExxonMobil, Chevron, Total, Royal Dutch Shell, and British Petroleum are the five biggest players on the index, which includes 85 other majors. Together, they have lost $115 billion in market value since the beginning of April, Bloomberg reports, according to World Oil.read more
Jul 4th, 2017
by John Donovan.
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By Francois De Beaupuy , Golnar Motevalli and Hashem Kalantari
4 July 2017, 00:01 BST
Total SA made a $1 billion bet on natural gas in Iran, swallowing a hefty dose of political risk in the hope of gaining first-mover advantage in the country with the world’s largest reserves.
The deal to develop phase 11 of the giant South Pars field is the first investmentin Iran by an international energy company since sanctions were eased last year. Total expects it to open the way for further involvement in oil, gas and petrochemical projects there, said Chief Executive Officer Patrick Pouyanne.read more
Jun 28th, 2017
by John Donovan.
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Oil Snaps Longest Gain in a Month on Signs U.S. Supplies Rose
Oil in New York and London tumbled into a bear market last week on concerns that rising global supply will counter output cuts from the Organization of Petroleum Exporting Countries and its partners. U.S. crude inventories remain stubbornly high, more than 100 million barrels above the five-year seasonal average, according to data from the Energy Information Administration.
“It has become obvious by now that the current OPEC plan is not working, or at least has not been working in the first half of the year,” said Tamas Varga, an analyst at PVM Oil Associates Ltd. in London. “Bears will probably become the more dominant factor again” if the API stockpile figures are repeated by U.S. government data.read more
At the end of last year, when it looked as if OPEC was making a concerted effort to rein-in oil market oversupply, shares in Royal Dutch Shell(LSE: RDSB) charged to a 52-week high of just under 2,400p. Unfortunately, this rally didn’t last long. By the end of the first quarter, the shares had fallen by nearly 10% and have continued to slide as worries about a new oil glut have continued to grow. The falling oil price has reignited the argument about the sustainability of Shell’s dividend payout.read more
A number of producers – notably Iraq, Saudi Arabia and Russia – have aggressively ramped up output
Oil prices held near multi-month lows on Wednesday as investors discounted evidence of strong compliance by OPEC and non-OPEC oil producers with a deal to cut a global output.
Global benchmark Brent LCOc1 was unchanged at $46.02 barrel at 0651 GMT after falling nearly 2 per cent in the previous session to its lowest settlement since November.
US crude futures CLc1 for August were trading up 4 cents at $43.55, after spending much of the day slightly lower and falling more than 2 per cent on Tuesday to the lowest since September.read more
Oil prices could slide back into the $30s per barrel before the sell-off ends and prices stabilize, analysts said, bringing pain to both OPEC and its archrival — the U.S. shale industry
West Texas Intermediate oil futures for July were trading around $43 per barrel Tuesday, and Brent futures were just above $45. One catalyst for the decline was a report that Libyan oil production has returned to close to 900,000 barrels a day, its highest level in four years. Growing U.S. production and stubbornly high inventories has been another driver of lower prices.read more
Crude slumped last week after a shock rise in US stockpiles, up 3.3million barrels to 513million, according to the Energy Information Administration (EIA).
Brent crude slipped to about $48 a barrel, its lowest level since December, and analysts said it could go sharply lower.
Crude dipped below $27 a barrel in January last year and Chris Beauchamp, chief market analyst at online trading platform IG, said a repeat of those levels is a distinct possibility: “Crude tends to overshoot on both the upside and the downside.”read more
In a boost to Nigerian oil production, Royal Dutch Shell on Tuesday lifted its force majeure on exports of Forcados crude oil shipments. The force majeure, which allows companies to miss contractual obligations as a result of events out of their control, was imposed on 21 February 2016 following militant attacks.
Nigeria was recovering from attacks which had seen its output drop by over a third in 2016 due to militant attacks, from a peak of 2.2 million barrels per day (bpd). With the Forcados terminal back on track, shipments are set to average around 250,000 barrels a day with output will be set to increase by around 10 per cent, bringing the output of Africa’s largest economy up to around 2 million barrels per day (bpd).read more
Jun 8th, 2017
by John Donovan.
Comments are off for this post
Royal Dutch Shell Plc lifted restrictions on exports of a key Nigerian crude oil, 472 days after imposing them following militant attacks. The extra flows alone amount to about 20 percent of the supply OPEC has pledged to cut from world markets.
Europe’s biggest oil company ended a force majeure of Forcados crude oil shipments at 4 p.m. London time on Tuesday, a spokesman said. The measure, which allows companies to miss contractual obligations, was imposed on Feb. 21 last year. Shipments this month will average about 250,000 barrels a day, according to a loading program obtained by Bloomberg.read more
Royal Dutch Shell (RDS.A, RDS.B) is testing Nigeria’s Trans Forcados crude export pipeline for a potential restart, with the Astro Perseus tanker expected to load the first cargo by the weekend, Reuters reports.
Forcados had produced 200K-240K bbl/day before attacks damaged the pipeline in February 2016 and again in October.
A full resumption of Forcados could complicate matters for OPEC, which meets later this month to determine whether to extend production cuts beyond June, or potentially deepen them; Libya and Nigeria were exempt from the original cuts.read more
OVER 500 EXTERNAL PUBLICATIONS CITING OUR SHELL WEBSITES
See our link list of over 500 articles by the FT, Wall Street Journal, Reuters, Bloomberg, Forbes, Dow Jones Newswires, New York Times, CNBC etc, plus UK House of Commons Select Committee Hansard records, information on U.S. Securities & Exchange Commission websiteetc. all containing references to our Shell focussed websites, or our website founders Alfred and John Donovan. Includes TV documentary features in English and German, newspaper and magazine articles, radio interviews, newsletters etc. Plus academic papers, Stratfor intelligence reports and UK, U.S. and Australian state/parliamentary publications, also citing our Shell websites. Click on this link to see the entire list, all in date order with a link to an index of over 100 books also containing references to our websites and/or our activities.
John Donovan, the website owner A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
JOHN DONOVAN, THE OWNER OF THIS AND SEVERAL OTHER SHELL FOCUSSED WEBSITES
SHELL PRELUDE TO DISASTER
The links below are to a series of articles, many triggered by a well-placed whistleblower directly involved in the pioneering Royal Dutch Shell Prelude project. Includes articles by Mr Bill Campbell above, the retired distinguished HSE Group Auditor of Shell International and another retired Shell guru with a track record of spotting potential pitfalls in major Shell projects.
The campaign waged on this website by John Donovan to persuade Edward Heerema to rename the worlds biggest ship, The Pieter Schelte - which he named after his late father, Pieter Schelte Heerema, a former Officer in the German Waffen-SS - has been successful. On Friday 6 February 2015, Allseas announced that it was changing the ships name, and on 9 February announced the new name - Pioneering Spirit.
GLOBAL NEWS COVERAGE: FEBRUARY 2010
MORE INFORMATION: Contact details for over 176,000 employees and contractors of Royal Dutch Shell reached John Donovan and some environmental and human rights groups, ostensibly from disaffected Shell staff calling for a “peaceful corporate revolution” at the company. The database, from Shell’s internal directory, contained names and telephone numbers for all the company’s work force worldwide, including some home numbers. It was supplied with a 170 page covering note, explaining that it was being circulated by “116 concerned employees of Shell dispersed throughout the USA, the UK, and the Netherlands”, to highlight the harm done by the company’s operations in Nigeria. John Donovan brought the leak to the attention of Shell. Tests proved that the data was authentic and he destroyed the database after being informed by Mr. Richard Wiseman, the then Chief Ethics & Compliance Officer of Royal Dutch Shell Plc, that the confidential information if publicly disclosed, could put Shell employees and contractors in real danger.
This is not a Shell website. That fact should be abundantly plain from the overall content of this home page and our sister Shell focussed websites, including shellnazihistory.com. Click on the Disclaimer link at top of this page for more information. You Can Be Sure Shell does not endorse or approve of this website. There are no subscription charges nor do we solicit or accept donations. It is an entirely free to use website drawing attention to the negative side of Shell while also publishing positive news about the company. The Shell logo image with the white text used on this website, as per the above example, is in the public domain because its copyright has expired and its author is anonymous. It can be found on WIKIMEDIA COMMONS. Our shellenergy.websitepublishes Shell Energy customer complaints posted on Trustpilot where there is an ample supply. Use this link for Shell’s own website.
Shell Breaking News
Shell Renewables Head to Leave Amid Fossil Fuel ShiftJune 30, 2023 14:49Financial PostBreadcrumb Trail Links PMN Business Shell Plc’s European renewable power boss Thomas Brostrom has decided to leave the company as the oil supermajor revises its strategy to focus more investment into fossil fuels. Author of the article: Bloomberg News …
Shell and BP take a beating as bank woes hit crude pricesMarch 15, 2023 17:36Proactive InvestorsBP PLC (LSE:BP.) and Royal Dutch Shell PLC (LSE:SHEL, NYSE:SHEL) shares have taken a hit, dropping over 8%, due to a sell-off in the banking sector.
The natural resources market has been volatile, with Brent Crude and West Texas Intermediate falling by 4- …
Shell CEO Pay Up 50%March 9, 2023 21:23Manufacturing Business TechnologyCEO of Royal Dutch Shell Ben van Beurden speaks at a meeting with Russian President Vladimir Putin in Moscow, Russia, Wednesday, June 21, 2017. Shell paid outgoing Chief Executive Ben van Beurden a total of 9.7 million pounds ($11.5 million) in 2022 as the …
Former Shell CEO's pay jumped 53% to $11.5m in 2022March 9, 2023 11:17Gulf NewsBen van Beurden, chief executive officer of Royal Dutch Shell, speaks during the 26th World Gas Conference in Paris, France, June 2, 2015
Image Credit: Reuters
London: Shell's former chief executive, Ben van Beurden, received a pay package of 9.7 …
SHELL’S ROLE IN NIGERIAN OPL 245 BRIBERY SCANDAL
Whatever fig leaves they might be trying to use to hide the truth, Shell and Eni paid over $1bn to a company called Malabu for the OPL 245 licence. Even though the payment was channelled through the Nigerian government, it was clear that Shell knew that the ultimate beneficiary was Dan Etete, the former minister of petroleum. Etete is the owner of Malabu, to whom he awarded the licence when he was Nigerian Minister of Petroleum.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
MORE INFORMATION
Shell appeased and collaborated with the Nazis. The oil giant instructed its employees in the Netherlands to complete a form giving particulars about their descent, which for some, amounted to a self-declared death warrant. Shell used slave labor and was a close business partner in Germany of I.G. Farben, the notorious Nazi run chemical giant that also used slave labor and supplied the Zyklon-B gas used during the Holocaust to exterminate millions of people, including children. Shell continued the partnership with the Nazis in the years after the retirement of Sir Henri and even after his death. It was money generated on Shell forecourts around the world, profiteering from cartel oil prices, that funded the Nazi party and saved it from financial collapse. Evidence about Shell's Nazi connections can be found in extracts from "A History of Royal Dutch Shell" Volumes 1 and 2 authored by historians paid by Shell, who had unrestricted access to Shell archives. There are 67 pages in total, so takes some time to download.
Photograph (full size here) shows a Swastika flag flying at the head office of Royal Dutch Petroleum, 30 Carel van Bylandtlaan, The Hague, during the Nazi occupation of the in World War II (From Image Database Hague Municipal)
Sir Henri Deterding, the founder of the Royal Dutch Shell Group - known as "The Most Powerful Man in the World" - who became an ardent Nazi and financial supporter of Hitler and the Nazi party.
Reading between the lines in various legal documents, it seems that the allegations are that after the technology in question had been disclosed to a Shell company in the USA, the information was passed to Shell in the Netherlands in breach of confidentiality. And Royal Dutch Shell subsequently exploited the technology without payment or credit to the company holding the rights; Newton Research Partners. The inference seems to be that Twister B.V. was founded by Shell partly on trade secrets stolen from Bloom/Newton.
DISCLAIMER: This is not a Shell website nor is it officially endorsed by or affiliated with Royal Dutch Shell Plc. Originally co-founded by the late Alfred Donovan and his son John, it is now operated by John, Shell's "No.1 Enemy", aided by an expert team, with invaluable support from retired Shell senior executives and officials as guest contributors and leaked information from Shell insiders. (JOHN DONOVAN, WEBSITE OWNER) For nearly a decade, we have operated globally under the Royal Dutch Shell Plc top level domain name, dealing on Shell’s reluctant behalf with job applications, business proposals, Shell pension enquiries, shareholder enquiries, complaints, invitations to speak at conferences, an approach from the Dutch Defence Ministry and even terrorist threats. All meant for Shell. Prospect magazine has aptly described this website as being:"An open wound for Shell": WIPO proceedings by Shell to seize the domain name failed. NO SUBSCRIPTION CHARGES: All of our watchdog activities monitoring Royal Dutch Shell, including operating this website, are carried out on a non-profit basis. Any advertising revenues generated are used to recover and/or defray operational costs. We are a news aggregator and original content website. All information is available free for educational and research purposes. SHELL TACIT ENDORSEMENT: WHAT A WELL INFORMED SHELL OFFICIAL SAID ABOUT US:
"John and Alfred Donovan well known in UK/Hague. They perceive Shell played them and so have made it their mission to embarrass,belittle and criticize Shell, which they do quite well. Their website, royaldutchshellplc.com is an excellent source of group news and comment and I recommend it far above what our own group internal comms puts out."
WARNING TO SHELL EMPLOYEES: Shell Global Affairs Security "CAS") is spying on Shell employees globally trying to trace who is visiting, posting, or leaking information to this website from Shell premises. Threats, including death threats, have allegedly been made against conscience driven Shell whistleblowers supplying us with information. The worlds biggest leak of employee details as part of a claimed corporate revolution by 116 Shell employees, suggest the espionage operation, threats and draconian litigation have not been entirely successful in cutting off the supply of information to this website. The insider leaks had already cost Shell billions on the Sakhalin Energy project and the loss of SEIC Deputy Chairman, David Greer. We publish our own carefully researched articles about Shell e.g. "How Royal Dutch Shell saved Hitler and the Nazi Party". MEDIA COVERAGE: Prospect Magazine, The Sunday Times, and The Guardian, have all published major articles about us: "Rise of the Gripe Site";"Two men and a website mount vendetta against Shell' and "92-year-old's website leaves oil giant Shell-shocked”. SHELL PETROL STATION images displayed in the website header panel are licensed under the GNU Free Documentation License.
COPYRIGHT NOTICE: Information on copyright issues here.
John Donovan can be contacted at [email protected]
SHELL’S $500,000 WEDDING GIFT TO CORRUPT BRUNEI ROYAL FAMILY
EXTRACT FROM ASIAN JOURNAL ARTICLE IN LIST OF LINKS BELOW: "Fireworks will light up the sky for three nights. The local unit of oil giant Royal Dutch Shell has donated 500,000 Brunei dollars (US$292,400; euro 243,700) for the display, and for cultural events to be hosted by popular performers from Malaysia."
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS:
THIS IS WHAT IT SAID:
Subject: This could be the most important whistleblower email you have ever received.
Some unfortunate Royal Dutch Shell workers have already lost their lives. More lives are at stake.
My name is Bill Campbell. I am a former Group Auditor of Shell International. I am writing to you on a matter of conscience in an effort to avert the inevitability of another major accident in the North Sea. The consequences could potentially impact on families in many constituencies, including your own.
As Royal Dutch Shell and the Health & Safety Executive would acknowledge, I am an expert on safety matters relating to offshore oil and gas platforms. In 1999, I was appointed by Shell to lead a safety audit on the Brent Bravo platform. The audit revealed a platform management culture that basically gave a higher priority to production than the safety of Shell employees. To our astonishment we discovered that a "Touch F*** All" policy was in place. Worse still, safety records were routinely falsified and repairs bodged.
I personally brought the shocking situation to the attention of senior management including Malcolm Brinded, the then Managing Director of Shell Exploration & Production. I revealed that ESDV leak-off tests were purposely falsified, not once but many times and that Brent Bravo platform management had admitted responsibility for the dangerous practices being followed. In response to my team ringing alarm bells, management pledged to rectify the serious problems which had been uncovered.
When I later complained that the pledges were not being kept, I was removed from my oversight function.
Four years later, a massive gas leak occurred on the platform. Two workers lost their lives. I have no doubt at all that the inaction of the relevant Asset Manager, the General Manager, the Oil Director and Malcolm Brinded, contributed in some part to the unlawful killing of two persons on Brent Bravo in September 2003.
Shell subsequently pleaded guilty to breaches of the HSE regulations and a record-breaking £900,000 fine was imposed. I thought this would bring about a real change in policy to put the emphasis on safety.
Unfortunately I was wrong. Although I supplied the evidence related to 1999, and the fact that there had been a collapse in controls of integrity from 1999 to 2003 on all 16 of Shell's North Sea offshore installations covered in a post fatality integrity review to the HSE for review by the Procurator Fiscal, none of this evidence was presented before the Sheriff at the subsequent Inquiry. The situation is explained in a letter to the Procurator Fiscal and the Sheriff (on 24th February 2007).
Shell management has engaged in spin to try to pretend that it is getting to grips with its safety problem. However, its atrocious safety record - the worst in the North Sea in terms of accidental deaths and absolute number of enforcement actions – tells a different story. This fact has resulted in a number of newspaper articles.
I have had meetings with senior Shell people including its CEO Mr. Jeroen van der Veer. I regret to say that I have found him to be economical with the truth. He prefers to support cover-up and deceit rather than confronting the underlying problems. Brinded is now Executive Director of Shell Exploration & Production. He believes in burying evidence.
My family and friends would probably prefer me to give up on this matter and enjoy my retirement after so many years working for Shell.
However, by writing to every MP in the UK, no one can ever say that I did not do my best to avert an inevitable further major accident event in the North Sea. When it happens (I pray that I am wrong) I will make this warning communication available to the media together with the vast amount of evidence in my possession.
At least my conscience is clear. I have done everything possible to ring the alarm bells about Shell management and its unscrupulous attitude to the safety of its employees.
Yours sincerely
Bill Campbell
ENDS
(Malcolm Brinded and Jeroen van der Veer are no longer with Shell. The Oil Director referred to in the email is Chris Finlayson, who left Shell to become Chief Executive of British Gas before being fired - his photo immediately below)
SIR PHILIP WATTS, THE GROUP CHAIRMAN OF ROYAL DUTCH SHELL GROUP, FORCED TO RESIGN IN 2004
Shell’s reputation was destroyed in 2004 after FIVE consecutive cuts to its hydrocarbon reserves covering 55% of its total reserves. US and UK financial regulators imposed $150 million in fines on Shell for securities fraud. Shell was also rocked by class action lawsuits. Sir Philip Watts
and Walter van de Vijver (whose headcut images appear courtesy of The Wall Street Journal) were among the Shell executives forced to resign. More details at the foot of this column.
MORE DETAILS: The Shell reserves scandal brought about
the end of the Royal Dutch Shell Group in its original form as an Anglo-Dutch partnership.
Shell Transport & Trading Co and Royal Dutch Petroleum were unified into a single Dutch owned company - Royal Dutch Shell Plc.
Sir Philip turned to religion and is now a very wealthy priest after receiving a payoff/pension package from Shell reportedly worth $18.5 million. Walter van de Vijver in contrast was the victim of a sadistic sacking by his Shell senior management backstabbing colleagues.
Displayed below are some of the spectacular promotional campaigns my company Don Marketing created for Shell in the 1980s and 1990s. This was before the series of SIX high court actions we brought against Shell for stealing ideas (4) and for defamation (2) - all settled by Shell. This website is a permanent response by me to the malicious underhand tactics, including treachery, espionage and intimidation, used by Shell during and after the bouts of litigation. More information is printed at the foot of this column.
MORE DETAILS: After a solicitor acting for Shell threatened to make the litigation "drawn out and difficult" with the intention of draining the resources of a financially weaker opponent, my late father (Alfred Donovan) and I decided to mount a wide-ranging campaign as a counter-measure. We jointly founded the Shell Corporate Conscience Pressure Group, which nearly 15% of Shell UK retailers joined. We regularly conducted ethical surveys involving up to 1500 Shell petrol stations. All responses were opened and authenticated by an independent solicitor who supplied Affidavits confirming the results. In whole page announcements in trade magazines (examples above) we challenged Shell to commission and publish the resuits of independent research asking the same questions and offering respondents GUARANTEED anonymity. Shell never took up the invitation. Instead it asked the UK Advertising Standards Authority to investigate our Shell surveys. No problems were found. The head-cut image of Alfred Donovan appears courtesy of The Wall Street Journal.
SHELL CONTROVERSIES
selection of memorable warnings/articles/images associated with the controversial track record of Royal Dutch Shell.
WARNING: DO NOT DISCLOSE YOUR IDEAS TO SHELL GameChanger OR SHELL Ideas360 WITHOUT TAKING EVERY POSSIBLE PRECAUTION. Shell management has ample funds to pay for intellectual property but prefers to steal it from small businesses and in our experience, gives its full backing to dishonest managers willing to do its bidding. We have sued Shell repeatedly in the High Court for the theft of our Intellectual Property. It is doubtful if anyone can match our dire experience in dealing with this ruthless unscrupulous serial poacher of other parties ideas. Expect threats, legal machinations and sinister action from Shell and its spooks if you object to having your ideas stolen.
Some years ago extensive documentary evidence was brought to the attention of Malcolm Brinded above, when he was Chairman of Shell UK, proving beyond any doubt that Shell executives had conspired to rig a tender for a major contract. A number of innocent firms were deliberately lured into signing confidentiality agreements and disclosing Intellectual Property to Shell under false pretences, in a carefully contrived plot. The firm which was awarded the contract never took part in the tender. One objective of the Machiavellian plan was to stop/delay IP trade secrets owned by the participants in the tender from being disclosed to Shell's rivals. This was achieved by outright deception, without paying a cent to the firms involved, who wrongly believed they were participating in an honest tender. Instead of sacking the ring leader, AJL - who had a personal relationship with the firm which miraculously won the race in which it never ran - Shell senior directors, including Brinded, gave AJL their full backing. Some of the Shell executives involved, including for example, Tim Hannagan, still hold high positions inside Shell - in his case, Global Brand and Visual Identity Manager. If Shell does not accept that this is a true, provable account of what happened, then it should sue for libel. How on earth is such predatory conduct compatible with Shell's claimed business principles?