Shell and Nigerian Partner Are Sued in Britain Over Spills |
-14 |
2016-03-03 00:00:00 |
“We believe that allegations concerning Nigerian plaintiffs in dispute with a Nigerian company, over issues which took place within Nigeria, should be heard in Nigeria,” the company said.
On Wednesday, the claimants won a small victory when a judge ruled that the Nigerian venture could be included in the case, along with its parent company.
Shell has said that cleanup costs from spills are shared on the basis of holdings.
Shell’s Nigerian subsidiary said that it would fight having the case tried in Britain.
“The Nigerian legal system cannot deal with these cases and there is complete regulatory failure,” he said. |
RDS.B |
{"Stanley Reed"} |
477 |
Farmers sue oil giant Shell over Niger Delta pollution |
-18 |
2012-10-11 00:00:00 |
The argument over the impact of oil production in the Niger Delta, which includes the Ogoniland region, is a long-running one.
The world's third largest wetland, the Niger Delta is diverse and rich with mangroves and fish-rich waterways.
Shell has previously accepted responsibility for two oil spills in Ogoniland in 2008 and 2009.
The farmers want the Anglo-Dutch multinational to "clean up the oil pollution in their fields and fishponds" and make sure their pipelines are maintained and kept secure to prevent leaks in the future.
But Friends of the Earth says that oil pollution has had a devastating and continuing impact on vegetation, water supplies and local fishing ponds. |
RDS.B |
{"Laura Smith-spark"} |
478 |
Shell investigated in Italy over Nigeria oil field - source |
-10 |
2016-03-30 13:55:13+00 |
"We can confirm we have received notice of proceedings from the Public Prosecutor in Italy," a Shell spokesman said.
"Shell is cooperating with the authorities and is looking into the allegations, which it takes seriously," the Shell spokesman said.
The oil block is estimated to contain 9 billion barrels of crude oil.
The state-controlled oil company has always said it dealt exclusively with the government of Nigeria, paid fees into a government account and did not use intermediaries for the transaction.
It was initially awarded in 1998 by former Nigerian oil minister Dan Etete to Malabu Oil and Gas, a company in which he was a shareholder. |
RDS.B |
{"Reuters Editorial"} |
637 |
Idemitsu Kosan Postpones Showa Shell Merger |
-7 |
None |
International oil major Royal Dutch Shell RDS.A -0.45 % PLC owns a roughly one-third stake in Showa Shell Sekiyu.
If they merged, Idemitsu and Showa Shell Sekiyu would have a market share of about 30%.
ENLARGE Takashi Tsukioka, president of Idemitsu Kosan Co., right, and Tsuyoshi Kameoka, chief executive officer of Showa Shell Sekiyu K.K., arrive at a news conference in Tokyo earlier Thursday.
Showa Shell Sekiyu Chief Executive Tsuyoshi Kameoka, sitting next to his Idemitsu counterpart, rejected that view, saying Showa Shell Sekiyu’s roots in Japan go back 116 years and it has 33 affiliated gas-station operators with which it has done business for more than a century.
Idemitsu said it planned to follow through with previously announced plans to buy that stake by next month, on the assumption that the full merger with Showa Shell Sekiyu will eventually happen. |
RDS.B |
{"Chieko Tsuneoka"} |
755 |
Crude realities for Bakken oil as Shell ditches West Coast rail plan |
-15 |
2016-10-08 12:06:10+00 |
That is good for Bakken producers, but makes paying for costly rail too expensive for West Coast refiners.
Shell's rail facility would have connected to an existing rail line and supplied Shell's 145,000 bpd Anacortes refinery with light crude from North Dakota.
"The biggest challenge to the Williston Basin right now isn't transportation, it's oil prices.
"This development (with Shell), along with the developments regarding the DAPL, will hurt Bakken producers' netbacks," Sarp Ozkan, a senior energy market analyst with Denver-based Ponderosa Advisors, said in reference to profits.
Shell's move on Thursday comes at a bad time for Bakken producers, who have endured a two-year price rout and need new routes to move their oil to coastal refineries. |
RDS.B |
{"Liz Hampton"} |
756 |
Shell Faces Opposition on CEO’s Pay as Bonus Seen as Excessive |
-7 |
2016-05-17 00:00:00 |
Shell’s annual general meeting is scheduled to take place in The Hague on May 24.
Glass Lewis said it was concerned with Shell’s “disconnect between bonus payouts and financial performance” and recommended shareholders vote against the pay.
A majority of shareholders rejected BP Plc CEO Bob Dudley’s 20 percent pay increase last month in an advisory vote.
“Shell’s executive compensation reflects delivery of our strategy, measured by both short-term and long-term targets,” a company spokesman said by e-mail.
Advisory firm Glass Lewis also said shareholders should oppose the pay deal. |
RDS.B |
{"Rakteem Katakey"} |
757 |
Shell shareholders advised to oppose CEO's pay |
-7 |
2016-05-17 19:58:19+00 |
REUTERS/Toby MelvilleLONDON Two investor advisory firms have recommended Royal Dutch Shell (RDSa.L) shareholders oppose the CEO's 2015 remuneration, in the latest sign of rising discontent over pay amid falling oil prices.
Shell Chief Executive Ben van Beurden's 2015 remuneration fell 8 percent to 5.135 million euros ($5.63 million) last year, when the company's revenue dropped sharply due to low oil prices.
Both firms recommended shareholders oppose the remuneration packages in a vote at Shell's annual general meeting in The Hague next week.
In a separate report, adviser PIRC said "the ratio of CEO pay compared to average employee pay is 37:1, which is unacceptable".
Last month, BP's (BP.L) shareholders voted against Chief Executive Bob Dudley's $20 million pay deal for 2015, a rare investor revolt for such a major company, after it recorded a record annual loss. |
RDS.B |
{"Ron Bousso"} |
758 |
'Operational upset' at Shell's Bukom site - spokeswoman |
-12 |
2016-09-27 12:36:18+00 |
Shell's Pulau Bukom refinery caught fire last August, resulting in a CDU being shut for a prolonged period and the company was issued with a stop work order..
The Bukom site, Shell's largest wholly owned plant, has a 500,000 barrels per day (bpd) refinery and a steam cracker that produces more than 900,000 tonnes of ethylene per year.
SINGAPORE/OSLO An incident at Royal Dutch Shell's (RDSa.L) manufacturing site at Pulau Bukom in Singapore on Tuesday resulted in flaring with dark smoke at one unit but it has since subsided, a spokeswoman said.
Shell also declared force majeure on its chemicals supplies last year following issues with its Pulau Bukom cracker, which resumed operations last month.
She said the affected unit had been stabilised following the "operational upset", no one had been hurt and the rest of the site was operating normally. |
RDS.B |
{"Seng Li Peng Jessica Jaganathan"} |
774 |
Shell halts Carmon Creek oil sands project in Alberta, Canada |
-11 |
2015-10-28 00:00:00 |
Royal Dutch Shell will halt construction of its Carmon Creek thermal oil sands venture in Canada due to “uncertainties” facing the project, including a lack of infrastructure.
Shell’s cancellation of the 80,000 barrel per day Carmon Creek project comes after the Anglo-Dutch oil company halted its search for oil off the Alaskan coast in September at a cost of several billion dollars.
The decision to stop the project in the western province of Alberta comes as Shell cuts costs and a shortage of pipeline capacity constrains growth in the Canada’s oil sands industry.
The decision also comes as Washington wrangles with whether to approve the Keystone XL oil pipeline to transport crude from Alberta to the Gulf of Mexico.
Carmon Creek is wholly owned by Shell, which said it expected the decision to cost $2bn in its third-quarter results due to impairment, contract provision, redundancy and restructuring charges. |
RDS.B |
{"Agence France-presse In London"} |
831 |
Shell accused of strategy risking catastrophic climate change |
-17 |
2015-05-17 00:00:00 |
The real story behind Shell's climate change rhetoric Read moreRoyal Dutch Shell has been accused of pursuing a strategy that would lead to potentially catastrophic climate change after an internal document acknowledged a global temperature rise of 4C, twice the level considered safe for the planet.
A 4C global rise by 2100 would entail a sea level rise of between 52cm and 98cm, leading to widespread coastal flooding.
http://t.co/YtXfPcnQf4 #keepitinthegroundEnvironmentalists said the presumptions undermine Shell’s ability to talk with authority on climate change.
The revelations come ahead of the annual general meeting of Shell shareholders in the Netherlands on Tuesday, where the group has accepted a shareholder resolution demanding more transparency about the group’s impact on climate change.
The “Shell No” protest was held close to where Shell’s Polar Pioneer drilling rig is docked. |
RDS.B |
{"Terry Macalister"} |
875 |
Shell faces corruption probe over $1bn oil deal in Nigeria |
-8 |
2016-03-30 00:00:00 |
Dan Etete, who was oil minister in Nigeria under the military dictator general Sani Abacha, awarded the oil block to a company called Malabu oil.
Italian anti-corruption investigators have opened a formal investigation into Shell’s acquisition of a stake in a $1.09bn (£755m) oil block in Nigeria.
Shell co-owns the offshore oil block with the Italian energy group Eni.
The oil block is estimated to contain up to 9bn barrels of crude, and has been at the centre of a series of disputes since 1998.
The probe into Eni was triggered after an intermediary in the deal, Emeka Obi, sued Malabu in Britain’s high court. |
RDS.B |
{"Frederika Whitehead"} |
636 |
Idemitsu, Showa Shell to Delay Merger Opposed by Family |
-7 |
2016-10-13 00:00:00 |
Japanese refiner Idemitsu Kosan Co. will delay a planned April 2017 merger with domestic rival Showa Shell Sekiyu K.K.
Royal Dutch Shell “remains fully committed to selling the majority of its shareholding in Showa Shell to Idemitsu,” a spokesman for the company said.
The company still intends to buy a 33.2 percent stake in Showa Shell from Royal Dutch Shell Plc sometime in October or November, he said.
Showa Shell fell 4 percent to 950 yen, making it the biggest decliner on the Nikkei 225, while Idemitsu ended the day down 2.6 percent.
The companies postponed the combination as the founding family of Idemitsu, which controls a 33.92 percent stake in the refinery, still opposes the deal, Idemitsu President Takashi Tsukioka told reporters in Tokyo on Thursday. |
RDS.B |
{"Tsuyoshi Inajima","Emi Urabe","Tsuyoshi Inajima Emi Urabe"} |
753 |
Idemitsu indefinitely delays Showa Shell takeover on founding family opposition |
-15 |
2016-10-13 09:42:36+00 |
The Idemitsu family argues that Idemitsu can and should survive on its own, citing the firms' different corporate cultures.
Under the plan, Idemitsu was to buy the Showa Shell stake from RDS, which was set to be followed by a purchase of the rest of Showa Shell shares through a share swap at a later date.
The Idemitsu family is also opposed to the RDS stake purchase.
Showa Shell Sekiyu Chief Executive Officer Tsuyoshi Kameoka (L) and Idemitsu Kosan Co. Chief Executive Officer Takashi Tsukioka arrive for their joint news conference in Tokyo, Japan, October 13, 2016.
REUTERS/Kim Kyung-Hoon/File PhotoTOKYO Japanese refiners Idemitsu Kosan Co Ltd and Showa Shell Sekiyu said on Thursday they were delaying a planned integration indefinitely, putting in serious doubt a deal that has been fiercely opposed by the Idemitsu founding family. |
RDS.B |
{"Taiga Uranaka"} |
754 |