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December, 2019:

Royal Dutch Shell hit by US sanctions against Nord Steam 2

English translation of an article published today by the Dutch FT

Dutch companies hit by US sanctions against Nord Stream 2

Dutch FD: From our editor: 23 Dec 2019

In brief

  • President Trump has announced sanctions for the construction of the Russian gas pipe Nord Stream 2.
  • The measure affects the Dutch offshore group Allseas and Shell.
  • Furious reactions about internal affairs interference from Germany and Brussels.

US President Donald Trump announced sanctions from Friday to Saturday against the construction of Nord Stream 2, the gas pipeline that runs from Russia to Germany. The project should be operational by mid-2020. 2100 kilometers of the gas pipeline is already finished, about 300 kilometers of pipelines are still missing.

A variety of international companies are involved in the project and are likely to be affected. Also Dutch companies. For example, the sanctions appear to be aimed particularly against the Dutch-Swiss offshore company Allseas by the Dutchman Edward Heerema. That immediately stopped its work for Nord Stream 2 on Saturday. read more

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

Reuters: Nord Stream 2 to Press on With Europe Gas Pipe, Despite U.S. Sanctions

Nord Stream 2 contractor, Swiss-Dutch company Allseas, announced on Friday it had suspended pipe-laying activities. Nord Stream 2, which aims to double the Nord Stream route’s existing capacity of 55 billion cubic meters (bcm) of gas a year, is owned by Gazprom, which is financing half of the project worth about 9.5 billion euros ($10.5 billion). Other partners in Nord Stream 2 are Austria’s OMV, the German firms Uniper and Wintershall, Anglo-Dutch energy major Royal Dutch Shell…

By Reuters: Dec. 21, 2019

MOSCOW — The group behind Nord Stream 2 said on Saturday it aimed to complete a pipeline to boost Russian gas supplies to Europe as soon as possible, after U.S. sanctions prompted a major contractor to suspend pipe-laying activities.

U.S. President Donald Trump signed a bill on Friday that included legislation imposing sanctions on firms laying pipe for Nord Stream 2, which seeks to double gas capacity along the northern Nord Stream pipeline route to Germany.

Washington, which has been seeking to sell more of its own liquefied natural gas (LNG) to European states, has said Nord Stream 2 will make Europe too reliant on Russian supplies. read more

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

PUNCH: $1.1bn Malabu oil scandal: Prosecutors want Nigerian ‘super witness’ to testify in Italy

Regarded as one of the biggest corporate corruption scandals in history, the Malabu oil scandal involved the transfer of about $1.1bn by oil giants Shell and Eni through the Federal Government to accounts controlled by a former Minister of Petroleum, Mr Dan Etete. Shell and Eni were said to have given the bribes in a bid for OPL 245, one of Nigeria’s richest oil blocks. The oil block’s reserves were estimated to be 9.23 billion barrels of crude oil.

Jesusegun Alagbe and Alexander Okere: Published Dec 21, 2019

Italian prosecutors have been asked to produce a Nigerian ‘super witness’ who is a retired Assistant Inspector-General of Police, Isaac Eke, in the ongoing probe of the $1.1bn Malabu oil scandal.

The Palace of Justice in Milan, Italy, during the week told prosecutors to make the key witness appear before it by January 29, 2020, to testify in the trial.

Turning down recorded testimony of the witness and all forms of examination via video conferencing, the court said unlike before when it allowed Nigerian witnesses testify via video conferencing, the ex-police chief must be physically present to testify at the ultimatum. read more

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

Nord Stream 2: US Senators threaten to put Allseas Group out of business

By John Donovan

This morning I received from a trusted Shell source a United States Senate letter by US Senators Ted Cruz and Ron Johnson which has just been sent to Edward Heerema, CEO of the Allseas Group.

It contains what can only be described as dire threats against the company in relation to Allseas installation of a natural gas pipeline in Russia’s Nord Stream 2 project, in which Royal Dutch Shell is a major partner.

The letter dated 18 Dec 2019 from the US Senators demands that the Captain of the worlds largest vessel, Pioneering Spirit… “that’s right now laying this pipeline… needs to instruct the ship’s captain to set sail for other waters, because if they don’t, they’ll put the company out of business.” read more

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

The Guardian: Dutch supreme court upholds landmark ruling demanding climate action

In a formal reply in November, Shell denied it was liable. A month earlier the company’s CEO said it had “no choice” but to invest in oil and claimed it was “entirely legitimate” to do so.

Court rules Dutch government has duty to protect citizens’ rights in face of climate change

The Netherlands’ supreme court has upheld a ruling ordering the country’s government to do much more to cut carbon emissions, after a six-year fight for climate justice.

The non-profit Urgenda Foundation, which brought the case, welcomed the “groundbreaking” judgment.

As well as inspiring cases against other national governments, Urgenda’s success has encouraged campaigners to take up legal arms against corporations. In April a group of social and environmental justice groups led by Friends of the Earth Netherlands began the process of suing the oil firm Shell, arguing that its business model threatens international climate goals and endangers human rights. read more

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

WSJ: The Beginning of the End of Tax Secrecy

As social pressures on companies build, Shell has voluntarily published the taxes it pays in each country

By Rochelle Toplensky: Dec. 20, 2019 5:28 am ET

This week, Royal Dutch Shell voluntarily published its revenue, profit, taxes and other business details in each of 98 countries. The disclosure aligns with a drive by the energy company, which often attracts criticism from environmental activists, to present itself as forward-thinking, transparent and socially-minded.

That didn’t stop the information feeding a predictable host of headlines in the U.K., where the company is partly based, that it didn’t pay taxes in the country (because of losses carried forward and tax refunds). In the U.S., Shell accrued $137 million of tax—a rate of 8%. read more

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

Reuters: Shell writes down up to $2.3 billion on weaker economic outlook

Ron Bousso, Pushkala Aripaka: DECEMBER 20, 2019 (Reuters) – Royal Dutch Shell (RDSa.L) said on Friday it expected to write down up to $2.3 billion in the fourth quarter, the latest major energy company forced to shrink estimates for sector values due to a weaker economic outlook.

In a trading update ahead of full year results, Shell also lowered its oil products sales forecast, pointing to the first annual slowdown in sales since at least 2014, while maintaining spending on the lower end of forecasts.

The Anglo-Dutch company warned in October that trade tensions between the United States and China, the world’s two largest energy consumers, could hurt demand and take a toll on its performance.

Shell said it expected to take post-tax impairment charges in a range between $1.7 billion and $2.3 billion for the quarter “based on the macro outlook”. It did not say which assets the impairments relate to. read more

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

Japan and Russia set to launch $9bn LNG project in Far East

ARTICLE EXTRACT: But projects in Russia also carry risks. Mitsubishi and Mitsui were involved in Sakhalin 2, but their ownership in the project, as well as Shell’s, was reduced in 2006-07 after the Russian government raised environmental issues. Gazprom joined as the largest shareholder.” (This Video features a related TV documentary segment including interviews with John Donovan and the then Russian Environmental Minister, Oleg Mitvol)

TOKYO — A group of Japanese companies and its government are set to launch a new liquefied natural gas project with Russian and U.S. partners in far eastern Russia in a move that may shift the power dynamics of the growing global LNG market.

The project involves Exxon Mobil of the U.S., Russian state oil company Rosneft and Sakhalin Oil and Gas Development, a Japanese consortium that counts Japan’s Ministry of Economy, Trade and Industry as well as Itochu, Japan Petroleum Exploration and Marubeni as shareholders. The parties are in talks to produce LNG from the Sakhalin I Project, which already produces crude oil. read more

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

Reuters: Shell sees up to $2.3 billion in fourth-quarter charges, trims oil production sales estimate

(Reuters) – Royal Dutch Shell <RDSa.L> said on Friday it expects impairment charges of up to $2.3 billion in the fourth quarter and trimmed its forecast for quarterly oil production sales, as the Anglo-Dutch oil company faces slowing demand for oil and gas.

The company warned in October that trade tensions between the United States and China, the world’s two largest energy consumers, could hurt demand and take a toll on its performance.

Shell said it expects oil production sales of 6.5 million barrels of oil equivalent per day (boepd) to 7 million boepd for the fourth quarter, compared with its earlier estimate of 6.65 million boepd to 7.05 million boepd. read more

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

OPL 245: Nigeria’s ex-attorney general held by financial crimes agency over $1.3 billion oil deal

by Reuters: Thursday, 19 December 2019 22:35 GMTABUJA, Dec 19 (Reuters) – Nigeria’s former attorney general was detained by the country’s financial crimes agency upon his return home on Thursday, the commission said in a statement, as part of an investigation into one of the oil industry’s biggest suspected corruption scandals.

Mohammed Adoke was arrested by Interpol in November after travelling to Dubai for a medical appointment. He voluntarily flew back to the West African country on Thursday, his lawyer said.

The Economic and Financial Crimes Commission (EFCC) investigation relates to the $1.3 billion sale of a Nigerian offshore oilfield known as OPL 245 by Malabu Oil and Gas in 2011.

Eni SpA and Royal Dutch Shell Plc jointly acquired the field from Malabu, which was owned by former petroleum minister Dan Etete. read more

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

TODAY: Ship captain jailed 5.5 years for role in largest gas oil theft from Shell’s Pulau Bukom refinery

Ship captain jailed 5.5 years for role in largest gas oil theft from Shell’s Pulau Bukom refinery

By LOUISA TANG:19 Dec 2019

SINGAPORE — A ship captain who profited from receiving about US$5.7 million (S$7.7 million) worth of stolen marine gas oil was sentenced to five-and-a-half years’ jail on Thursday (Dec 19).

Doan Xuan Than is the second person to be dealt with in relation to a multi-million dollar fuel heist from Shell Eastern Petroleum’s Pulau Bukom refinery, which prosecutors said was misappropriation on an “unprecedented scale”.

Eleven former Shell employees and several others have been charged over the case. read more

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

Shell introduces option to receive dividend in US dollars and moves to full electronic settlement of its dividends

Royal Dutch Shell plc (“Shell”) announces that it will introduce the option for shareholders to receive Shell’s dividends in US dollars with effect from the fourth quarter 2019 interim dividend. Furthermore, Shell will settle its dividend with its shareholders fully electronically either in CREST or via interbank transfers.

Introduction of US dollar as additional currency election

From the fourth quarter 2019 interim dividend, shareholders can elect to receive their dividend in US dollar.

Shareholders are reminded that dividends on A and B shares will be paid in euro and pound sterling respectively, unless shareholders elect to receive an alternative currency. With the addition of US dollar, shareholders of A and B shares will be able to receive their dividends in euro, pound sterling and or US dollar. Dividends on American Depository Shares continue to be paid in USD. read more

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

Shell pays zero UK corporate income tax

By Pat Sweet

Pat Sweet

Reporter, Accountancy Daily, published by Croner-i Ltd

View profile and articles.

Anglo Dutch giant Royal Dutch Shell paid no corporate income tax in the UK in 2018 but claimed nearly £90m in tax reliefs

The company reported $731m (£557m) of profit before tax on revenues of $108bn and took over $115m (£87m) in tax reliefs related to North Sea oil platform decommissioning.

The figures are included in the company’s first tax transparency report detailing the corporate income tax that Shell companies paid in countries and locations around the world in 2018.

The tax contribution report provides information about the corporate income tax Shell paid in countries and locations in which it has a taxable presence across all its businesses, broken down on a country by country basis. read more

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

The Telegraph: Shell admits to paying no UK corporate tax last year

: 17 DECEMBER 2019 

Royal Dutch Shell has revealed that it paid no corporate income tax in the UK in 2018 despite raking in $731m (£557m) of pre-tax profit on revenues of $108bn in the country.

The new report, published on Tuesday, is the first time the oil and gas titan has released public details of the corporate income tax paid in countries and locations across all its businesses. 

Shell said it would disclose the amount paid in an attempt to be “more transparent”.  read more

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

In a dangerous world, human rights activists have been winning all year

18 December 2019, 15:02 UTC

With inequality, injustice and hate speech seemingly ever more prevalent across the globe, you’d be forgiven for thinking 2019 has been a bad year for human rights. Yet, we have also seen some significant wins. Activists the world over have been galvanised to stand up and fight for our human rights – and thanks to their relentless campaigning we achieved some striking leaps forward.

The District Court of The Hague issued an interim ruling in favour of Esther Kiobel and three other women who took on one of the world’s biggest oil companies, Shell, in a fight for justice. Esther has pursued the company for more than 20 years over the role she says it played in the arbitrary execution of her husband in Nigeria. Amnesty has shared over 30,000 solidarity messages with Esther Kiobel, and is supporting her Kiobel vs Shell case in The Hague. As a result of this hearing, the court in October 2019 heard for the first time the accounts of individuals who accuse Shell of offering them bribes to give fake testimonies that led to the ‘Ogoni Nine’ – who included Esther Kiobel’s husband – being sentenced to death and executed. read more

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

OilPrice.Com: Is Wall Street Turning Its Back On Fossil Fuels?

It appears to be the first time one of the largest U.S. banks has cut off financing for entire swathes of the fossil fuel sector.

Goldman Sachs said that it would no longer finance coal projects, or oil and gas exploration in the Arctic.

In a new environmental policy framework, the investment bank acknowledged the urgency of climate change and noted that not acting would be “costly for our natural environment, humans and to the economy.”

It appears to be the first time one of the largest U.S. banks has cut off financing for entire swathes of the fossil fuel sector. “Goldman Sachs’s updated policy shows that US banks can draw red lines on oil and gas, and now other major US banks, especially JPMorgan Chase – the world’s worst banker of fossil fuels by a wide margin – must improve on what Goldman has done,” Jason Opeña Disterhoft of Rainforest Action Network said in a statement. read more

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