Royal Dutch Shell Group .com Rotating Header Image

Oil Price Manipulation

US CLASS ACTION LAWSUIT AGAINST SHELL AND OTHERS FOR OIL PRICE FIXING

(NOW UPDATED WITH 98 PAGE DOCUMENT FILED 24 APRIL 2015 WITH THE U.S. COURTS)

A 194 page Complaint filed in the US Courts two months ago confirms that investigations are underway by the U.S. Federal Trade Commission, the EU Commission and the UK Serious Fraud Office into an alleged oil price-fixing conspiracy involving Shell, BP, Statoil and others. 

The plaintiffs provide what they describe as “concrete evidence” within the Complaint of oil price manipulation.

A link to the entire 194 page document is provided.

Extracts from 194 page Court document dated 27 Feb 2015

SECOND AMENDED CONSOLIDATED CLASS ACTION COMPLAINT FILED 27 FEBRUARY 2015

Case 1:13-md-02475-ALC Document 308 Filed 02/27/15

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK

I. NATURE OF THE ACTION

1. This action arises from manipulations of North Sea Brent Crude Oil Market  (defined herein) by Defendants Shell International Trading and Shipping Company Limited (“STASCO”), Shell Trading US Company, BP pic (“BP”), BP America, Inc., BP Corporation North America Inc., Statoil ASA (“Statoil”), Statoil US Holdings Inc. (“Statoil US”), Morgan Stanley Capital Group, Inc. (“MSCGI”), Trafigura Beheer B.V., Trafigura AG, Phibro Trading LLC (“Phibro”), Phibro Commodities Limited, Vitol, S.A. (“Vitol”), Vitol, Inc., Hess Energy Trading Company, LLC (“HETCO”), Mercuria Energy Trading S.A., Mercuria Energy Trading, Inc., (collectively, “Defendants”) since at least 2002 through the present (the “Class Period”). 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.

Illicit activities of Royal Dutch Shell snared in NSA surveillance programs?

It would be ironic if Shell, a company that was publicly exposed for engaging in spying, undercover activities and dirty tricks operations against its perceived enemies, such as Greenpeace and John Donovan, are exposed again, this time by government secret surveillance programs.

By Washington Observer

Over the last year or so there have been a number of revelations about the telecom data collection capabilities of the National Security Agency and how those capabilities have been used – see informative Washington Post article index facility: “NSA Secrets.”

We shall presume that given the treaty arrangements between the US and the UK (and Canada, New Zealand, and Australia) that the British Secret Service is also involved in similar activities and that there is a great deal of cooperation between the agencies. 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.

BP, Shell Slammed With More Crude-Oil Price-Fixing Claims

BP, Shell and Statoil have been barraged by suits since acknowledging that they were among the companies hit in a surprise raid launched by the European Commission and the Norwegian Competition Authority in May. This action arises from Defendants’ unlawful combination, agreement, and conspiracy to fix and restrain trade in, and intentional manipulation of, North Sea Brent Crude Oil (“Brent Crude oil”) and the prices of Brent Crude oil futures contracts traded on the New York Mercantile Exchange…

Screen Shot 2013-07-03 at 09.31.27

By Gavin Broady

Law360, New York (July 02, 2013, 7:54 PM ET) — An Illinois private placement fund mounted a putative class action against BP PLC, Royal Dutch Shell PLC and Statoil ASA in New York Monday over the alleged crude oil futures manipulation scheme that put the companies in the crosshairs of a recent European regulatory sting.

White Oaks Fund LP is suing the energy companies over a purported plot to manipulate the price of North Sea Brent crude oil and Brent crude oil futures contracts by providing bogus pricing information to Platts, which publishes benchmark price assessments in the energy sector. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Oil Probe That EU Says Mirrors Libor May Reveal Huge Damage

Oil-price manipulation may have wrought “huge” damage to consumers, the European Union’s antitrust chief said today, as he drew comparisons with EU investigations into rigging of bank rates including Libor.

Screen Shot 2013-03-05 at 14.17.28

Screen Shot 2013-05-28 at 16.57.39

EU Competition Commissioner Joaquin Almunia said, “If de facto the manipulation is confirmed, indeed, huge damages for consumers and users would have been originated by this.” Photographer: Andrew Harrer/Bloomberg

By Stephanie Bodoni May 28, 2013

Oil-price manipulation may have wrought “huge” damage to consumers, the European Union’s antitrust chief said today, as he drew comparisons with EU investigations into rigging of bank rates including Libor.

While it’s too soon to draw conclusions from the May 14 raids on Royal Dutch Shell Plc (RDSA), BP Plc (BP/), Statoil ASA (STL) and Platts, EU Competition Commissioner Joaquin Almunia said both sets of probe target price manipulation through a reporting system. 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.

BP & Shell Fixed North Sea Oil Prices for a Decade, Trader Says

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.

First online publication of oil price fixing US lawsuit against Shell, BP & Statoil

Screen Shot 2013-05-17 at 01.06.41This action arises from Defendants’ unlawful combination, agreement and conspiracy to fix and restrain trade in, and intentional manipulation of North Sea Brent Crude Oil (“Brent Crude oil”) and the prices of Brent Crude oil futures contracts…: Defendants deliberately reported inaccurate, misleading and false information regarding Brent Crude oil prices to Platts…

By John Donovan

You may have seen reference on this website to the class action lawsuit launched in the USA by Prime International Trading, Ltd against Royal Dutch Shell, BP and Statoil, for alleged oil price-fixing.

We are the first to provide free access to the relevant CLASS ACTION COMPLAINT – ALL 53 pages

Searchable version can be supplied by email on request to [email protected]

The proceedings were issued on 22 May 2013.

Some extracts:

1. This action arises from Defendants’ unlawful combination, agreement and conspiracy to fix and restrain trade in, and intentional manipulation of North Sea Brent Crude Oil (“Brent Crude oil”) and the prices of Brent Crude oil futures contracts traded on the New York Mercantile Exchange (“NYMEX”) and the Intercontinental Exchange (“‘ICE”) during the period of at least 2002 through the present (the “Class Period”), in violation of the Commodity Exchange Act….2. Defendants deliberately reported inaccurate, misleading and false information regarding Brent Crude oil prices to Platts, a unit of McGraw Hill Financial Inc.,and the leading global provider of spot and contract pricing for the physical and financially settled derivatives Brent Crude oil markets. Platts’ Brent Crude oil prices are used to price and settle physical floating Brent Crude oil deals under long-term contracts on a physical (spot) basis, and to settle Brent Crude oil derivatives contracts, including NYMEX and ICE Brent Crude oil futures contracts. False reporting of Brent Crude oil prices to Platts thereby undermines the entire ‘pricing structure for the Brent Crude oil market.

6. On May 17,2013, the U.K. Serious Fraud Office announced that it was “urgently reviewing” the European Commission’s allegations of price-fixing in the oil markets and determining whether to accept the case for “criminal investigation.” That same day, the United States Senate called for the U.S. Department of Justice to join the European Commission investigation. 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.

Commodities trader sues BP, Shell and Statoil for alleged price fixing

(Reuters) – A commodities trader has filed suit against BP Plc, Royal Dutch Shell Plc and Statoil in a U.S. federal court, accusing the companies of colluding to fix prices in North Sea Brent crude oil.

Screen Shot 2013-05-23 at 23.32.34

Thu May 23, 2013 4:33pm EDT

(Reuters) – A commodities trader filed suit against BP Plc (BP.L), Royal Dutch Shell Plc (RDSa.L) and Statoil (STL.OL) in a U.S. federal court, accusing the companies of colluding to fix prices in North Sea Brent crude oil.

Prime International Trading Ltd, in a proposed class-action lawsuit filed in the courthouse in White Plains, New York on Wednesday, accused the oil companies of misreporting prices of trades in the North Sea benchmark, which sets the price of about 70 percent of the world’s 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.

Collusion in reference prices for oil?

EXTRACTS: Oil market participants have called into question the accuracy of Platts’s benchmarks. In an August letter to the International Organization of Securities Commissions, Total Oil Trading, an arm of French oil company Total, said Platts’s prices are “out of line with our experience” several times a year. Spokesmen for BP, Shell, and Statoil declined to comment.

Screen Shot 2013-05-24 at 07.38.15

Europe’s Oil Market Gets Its Own Price Benchmarks Scandal

By , , and : May 23 2013

Statoil (STO) sold a tanker of Norwegian crude valued at about $63 million to BP (BP) on May 9. That transaction, which wasn’t subject to any oversight by financial authorities, would help set the price of more than half the world’s oil. The deal was reported to Platts, a unit of McGraw Hill Financial (MHFI), which uses information from traders and others involved in the market to set benchmarks for oil and related products. Platts’s figures help determine the price refiners pay for crude, which in turn affects what consumers pay for gasoline and diesel fuel. 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.

Petrol retailers to hand allegations of manipulation to European investigators

Allegations of “malpractice” in the oil market that could have cost drivers hundreds of pounds will be handed over to European investigators by a group representing 5,000 independent garages.

Screen Shot 2013-02-01 at 22.25.42

Screen Shot 2013-05-17 at 01.06.41By Rowena Mason, Political Correspondent: 12:01AM BST 23 May 2013

The Petrol Retailers’ Association said it has turned to the European Commission after British authorities failed to act on its “formal and detailed complaint” alleging “anti-competitive practices” in the oil and petrol markets.

The European Commission last week raided the offices of BP and Shell in London over suspicions oil companies have “colluded” to distort fuel prices. The companies have confirmed they are fully co-operating with the investigation but cannot comment further while the investigation is underway. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Watchdogs join oil giants on rack in price-fix case

Screen Shot 2013-01-31 at 08.47.44It is not the first time oil companies have been in regulators’ cross hairs. In September 2006, the European Commission fined 14 firms €266.7m (£224.8m) for rigging the price of bitumen over eight years in the Netherlands. Shell received the biggest penalty.

FROM THE SUNDAY TIMES Page 9, 19 May 2013

Watchdogs join oil giants on rack in price-fix case

After whistleblowers’ claims of rigging failed, Brussels is trying to prove it

Extracts from the article by Karl West

It was June last year, and Halfon had just received an email from an oil trader who wanted to expose the tricks used to manipulate oil prices.

Abbott was sent to make sure the person purporting to be a trader was not a crank.

First impressions were good. The middle-aged man was dressed in a smart navy suit, and it was soon clear that he had a “forensic” knowledge of the oil futures market.

It is not the first time oil companies have been in regulators’ cross hairs. In September 2006, the European Commission fined 14 firms €266.7m (£224.8m) for rigging the price of bitumen over eight years in the Netherlands. Shell received the biggest penalty. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The scandal of alleged oil price-fixing

The whistleblower gave Halfon a statement in which he said the price of oil was being deliberately distorted: ‘I trade the oil market on a daily basis and every day the price is manipulated,’ he said. ‘There is ample oil in the system to satisfy demand at the moment. Profiteering seems to be the only objective.’

Screen Shot 2013-05-21 at 14.34.23 Screen Shot 2012-07-27 at 22.32.22Screen Shot 2013-05-21 at 14.40.38

By Jon Rees And Sarah Bridge, Financial Mail On Sunday: PUBLISHED: 22:34, 18 May 2013 | UPDATED: 08:15, 20 May 2013

The scandal of alleged price-fixing by British oil companies has turned the spotlight on the bizarre way in which petrol prices for much of the world are set by a few people sat in a London office for 30 minutes.

Britain’s Shell and BP, along with Norway’s Statoil, are at the centre of a massive EC investigation after officials raided their offices in the capital last week.

All of the firms are co-operating with the investigation but they face public outrage if they are proved to have manipulated the wholesale price of 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.

Price-fixing investigation targeting Shell, BP, and StatOil

Screen Shot 2013-05-17 at 01.00.26

John,

Your readers may find the following links interesting in view of the latest allegations regarding Royal Dutch Shell, BP, StatOil, and perhaps others:

Racketeer Influenced and Corrupt Organizations Act – Wikipedia, the 

en.wikipedia.org/…/Racketeer_Influenced_and_Corrupt_Organizations_...‎

This law-related article does not cite its references or sources. You can help Wikipedia by including appropriate 

Summary – RICO predicate offenses – Application of RICO laws – Famous cases

18 USC Chapter 96 – RACKETEER INFLUENCED AND CORRUPT 

www.law.cornell.edu › USC › Title 18 › Part I

The Congress number forms the first part of the Public Law number; each Congress  The Public Law field is linked to the development of the law in the Thomas system  RICO · Equal Employment Opportunity Commission · Affirmative action  read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Oil Bosses Covered in Mystery Substance

Screen Shot 2013-02-01 at 22.25.42

Screen Shot 2013-05-20 at 15.19.44Screen Shot 2013-05-20 at 15.20.41

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 directors face up to 5 years in jail if guilty of price-fixing

Screen Shot 2013-05-17 at 01.06.41By John Donovan

Assessment of current situation in the price-rigging investigation partly based on an articled published today by The Lawyer today under the headline “All eyes on energy“:

  • Royal Dutch Shell is being advised by Clifford Chance in relation to the allegations of price-fixing.
  • Competition lawyers say that the investigation could be “bigger than Libor”.
  • If the allegations prove to be true, there is the prospect of unlimited fines and jail terms of up to 5 years for  directors.
  • There is an incentive of reduced sanctions dependent on the degree of co-operation i.e. turning informer.
  • Shell has confirmed that it is co-operating with the investigation.
  • Shell lawyers will have to decide whether to defend or continue to co-operate.
  • read more

    This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

    EU oil price probe underlines flawed system

    FINANCIAL TIMES

    By Ajay Makan and Javier Blas in London: May 17, 2013 5:48 pm

    In simultaneous raids this week on the offices of the oil majors BP, Royal Dutch Shell and Statoil of Norway, and Platts, a leading price reporting agency that helps set energy benchmark prices, the European Commission has fired the starting gun on one of the biggest cross-country investigations into benchmark pricing since banks were caught red-handed…

    (THIS IS THE BEST ARTICLE WE HAVE READ EXPLAINING ABOUT THE INVESTIGATION AND HOW ENERGY BENCHMARK PRICES ARE SET) 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.

    Selection of Shell related article links 19 May 2013

    Selection of Shell related article links kindly provided by a regular contributor

    If ‘everyone knew’ the oil market was open to rigging, why did no one The Guardian-It is worth spelling out that manipulation of the oil market, which could  Statoil, BP and Shell are not just petrol providers – they are major gas 

    European probe into oil price-fixing widens to Finland: Marketplace.org-May 17, 2013: Earlier this week, EU officials raided the offices of three of Europe’s biggest oil companies — BP, Shell and Statoil — and the oil price reporting company Platts,  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: oil market regulation will cost consumers

    Royal Dutch Shell lobbied against proposed European rules designed to clamp down on commodity market abuse, arguing they would raise costs for consumers and increase market volatility.

    Screen Shot 2013-05-17 at 01.06.41

    Shell argued strongly against elements of EC reforms to “strengthen the fight against market abuse across commodity and related derivative markets”.

    Screen Shot 2013-02-01 at 22.25.42

    Emily Gosden By 10:00PM BST 18 May 2013

    The oil giant was last week raided by European Commission investigators over suspicions it could have colluded with BP and others to rig the oil price for more than a decade by reporting distorted prices to a price reporting agency (PRA).

    The investigation has reignited the broader debate around regulation of trading in commodities such as oil and gas, which affect prices paid by consumers.

    European Union politicians are considering EC plans to “strengthen the fight against market abuse across commodity and related derivative markets” and to revise the Markets in Financial Instruments Directive (MiFID II) to “enhance the transparency and oversight of derivatives markets including commodity markets”. 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 and BP bosses met secretly to fix oil prices?

    The Sun newspaper alleges Shell boss Jeroen van der Veer secretly met Lord Browne of BP once a year to discuss oil prices. Perfectly matched pair to engage in some jiggery-pokery.

    Screen Shot 2013-05-18 at 23.14.01

    By John Donovan

    The Sun newspaper alleges Shell boss Jeroen van der Veer secretly met Lord Browne of BP once a year to discuss oil prices.

    Under the website headline “Shell and BP in secret meetings about oil”, the Sun is publishing an article on Sunday alleging that Jeroen van der Veer, Peter Vosers predecessor as Chief Executive of Royal Dutch Shell Plc, secretly met his BP counter-part, Lord Browne, once a year to discuss oil prices.

    (Headline in Sun Newspaper article: “I NEED WORD IN YOUR SHELL-LIKE ABOUT 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.

    Libor in a barrel

    Oil markets fall under the suspicion of price-fixing on a global scale

    Screen Shot 2013-04-20 at 08.36.20

    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.

    Senator calls for U.S. to join oil price probe

    Screen Shot 2013-05-17 at 01.04.00Kevin McCoy, USA TODAY4:43 p.m. EDT May 17, 2013

    U.S. public concern over a European probe into possible oil price manipulation escalated Friday as the head of the Senate Committee on Energy and Natural Resources urged the Justice Department to join the investigation.

    The request from Sen. Ron Wyden, D-Ore., came after European Union investigators this week raided the offices of global energy giants BP, Royal Dutch Shell and Statoil. The anti-trust probe is examining whether the companies manipulated oil prices by making false reports to Platts, an energy industry data service owned by McGraw Hill Financial. 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.

    Platts in Lockdown as Investigators Continue Oil Probe

     Screen Shot 2013-01-29 at 14.38.10

    Screen Shot 2013-05-17 at 01.06.41Published: Friday, 17 May 2013 | 3:54 AM ET

    European anti-trust investigators searched the offices of price agency Platts and at least one major oil company for a third day on Thursday, hunting for evidence of possible price manipulation on oil markets, witnesses said.

    Authorities raided the London bureau of Platts in Canary Wharf and the offices of Statoil, Royal Dutch Shell and BP on Tuesday in the biggest trading probe since the Libor scandal.

    (Read More: EU Raids Offices of Big Oil Firms Amid Pricing Probe) read more

    This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

    The Serious Fraud Office ‘urgently reviewing’ oil price inquiry

    UK fraud authorities are “urgently reviewing” whether to launch an investigation into companies that may have rigged the oil market and driven up petrol costs for millions of drivers.

    Screen Shot 2013-02-01 at 22.25.42

    By Rowena Mason and Christopher Hope: 7:06PM BST 16 May 2013

    The Serious Fraud Office said it is considering an inquiry, after European Commission officials raided the London offices of BP and Shell. The companies, along with a Norwegian oil giant, Statoil, are suspected of having “colluded in reporting distorted prices to manipulate the published prices for a number of oil and biofuel products”.

    It comes the day after David Cameron said he wanted to see prosecutions with the “full force of the law” if the allegations are proven. read more

    This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

    Oil companies face public and political backlash if found guilty

    FINANCIAL TIMES

    By Guy Chazan: May 15, 2013

    Big Oil is braced for a big backlash, as the industry faces what could be its own Libor moment.

    “…the allegations sparked a political firestorm…

    FULL ARTICLE

    This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

    Oil price fixers should face prison

    Oil price fixers should face prison, says Cameron: ‘Rigging’ might have cost every household £2,000 

    Screen Shot 2013-01-10 at 16.35.59

    Oil giants Shell and BP accused of fixing prices for more than a decade. PM said allegations ‘hugely concerning’ and threatens to prosecute bosses. Experts believe scandal could have cost consumers thousands at the pump

    By Rob Davies and Jason Groves: PUBLISHED: 23:36, 15 May 2013 | UPDATED: 07:42, 16 May 2013

    Screen Shot 2013-05-16 at 09.42.42

    Oil traders at Shell and BP should face prison if it is proved they conspired to fix prices, David Cameron said last night.

    The Prime Minister made no attempt to disguise his anger as both of Britain’s oil giants were named among several firms accused of fixing prices for more than a decade.

    He said the allegations were ‘hugely concerning’ and that anyone held responsible would face ‘major consequences’ if the claims were proved true. 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.

    SELECTION OF SHELL RELATED ARTICLE LINKS 15 MAY 2013

    SELECTION OF SHELL RELATED ARTICLE LINKS KINDLY SUPPLIED BY A REGULAR CONTRIBUTOR

    IEA forecasts US to account for a third of new oil supplies: Financial Times-The outlook will influence businesses as diverse as major oil companies, including ExxonMobil and Royal Dutch Shell, big commodities traders …

    Oxford University won’t take funding from tobacco companies. But …: The Guardian-… on research at Manchester University partly to help it drill deeper for oil. … Over the past few days I have asked the Shell professor of earth … Floating LNG Upsets Oil and Gas Outlook in Australia, Southeast Asia: the Diplomat-As the boom in oil prices gathered pace, less economical fields became … Shell is constructing the world’s first such pontoon for use at its …

    Gas finds in east Mediterranean may change strategic balance: BBC News-“This will tremendously reduce our oil invoice and the cost of energy … They include giants such as ExxonMobil, Shell, Chevron and Total.

    “You Were Robbed”: NBC4 I-Team Exposes New “Tricks and Tactics …: NBC Southern California-So what does Jiffy Lube, owned by Shell Oil, have to say about the alleged fraud uncovered by the I-Team at some of its stores? NBC4 offered … 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.

    BP and Shell raided in oil price-rigging investigation

    The London offices of BP and Shell have been raided by European regulators investigating allegations they have “colluded” to rig oil prices for more than a decade.

    European commission carries out ‘unannounced inspections’ to investigate claims oilcompanies colluded to manipulate prices

    Screen Shot 2013-01-29 at 17.46.10

    Screen Shot 2013-05-14 at 21.02.15

    The London offices of BP and Shell have been raided by European regulators investigating allegations they have “colluded” to rig oil prices for more than a decade.

    The European commission said its officers carried out “unannounced inspections” at several oil companies in London, the Netherlands and Norway to investigate claims they may have “colluded in reporting distorted prices to a price reporting agency (PRA) to manipulate the published prices for a number of oil and biofuel products”. 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.

    BP and Royal Dutch Shell raided

    BP and Royal Dutch Shell saw their offices raided today as the European Commission launched an investigation into oil price fixing. The Commission said it is concerned there has been collusion aimed at manipulating the prices of not only oil, but also petrol and biofuels.

    Screen Shot 2013-05-14 at 17.30.23

     A bogus market?

    Screen Shot 2013-03-30 at 13.58.14

    By This Is Money Reporter

    PUBLISHED: 16:58, 14 May 2013 | UPDATED: 17:17, 14 May 2013

    BP and Royal Dutch Shell saw their offices raided today as the European Commission launched an investigation into oil price fixing.

    Norway’s Statoil and price reporting agency Platts have also admitted to working with the authorities in their inquiries.

    The Commission said it is concerned there has been collusion aimed at manipulating the prices of not only oil, but also petrol and biofuels.

    It added that the anti-competitive co-operation may also have prevented others from taking part in the assessment of market prices. read more

    This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

    Oil prices could be rigged by traders warns G20 report

    A report commissioned by the G20 group of the world’s biggest economies has warned oil prices could be vulnerable to a Libor-style rigging scandal.

    16 July 2012 Last updated at 17:40

    A report commissioned by the G20 group of the world’s biggest economies has warned oil prices could be vulnerable to a Libor-style rigging scandal.

    According to the International Organization of Securities Commissions (IOSCO), the current system of oil price reporting is “susceptible to manipulation or distortion.”

    Benchmark prices are compiled by price reporting agencies. The biggest, Platts, says “there is absolutely no similarity” between Libor and 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.

    Shell exec welcomes new DOE probe into alleged collusion

    An executive of Pilipinas Shell Petroleum Corp. said Wednesday he was “surprised” that an investigation into the alleged collusion of oil firm giants was again launched by the government to look into persistent accusations that they were manipulating fuel prices.

    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 grilled by U.K. Treasury Select Committee over role of speculation in the rise of oil prices

    The U.K.'s Treasury Select Committee last week held a hearing into the regulation of oil markets at which witnesses from the FSA, oil market ICE Futures Europe and Anglo-Dutch oil giant Shell were grilled over the key factors behind the rise in oil prices, including the role of speculation.

    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.

    Pressure on oil futures’ ‘London loophole’

    Those giving evidence include three ICE Futures Europe executives – including Sir Bob Reid, its chairman – Alexander Justham, director of market supervision at the FSA, and Steven Fries, chief economist at Shell, the energy group.

    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.

    Bets double on oil hitting $200

    The number of financial market bets on crude oil prices hitting $200 a barrel before the end of this year has almost doubled in the past month, a further sign of growing concern that oil prices will continue to rise sharply in the near term.

    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.

    UK calls on G8 for united stand over oil speculation

    A call for global agreement on preventing manipulation of the crude oil market is to be made by John Hutton, the Business Secretary, at a meeting of G8 energy ministers in Japan this weekend.

    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.