Shell to expand investment in Russia
By John Donovan
Russian energy minister Alexander Novak boasted earlier today that Shell (and ExxonMobil) are expanding operations in Russia and the Russian Foreign Ministry has said energy cooperation should not be damaged by political tensions. See extracts below from a RIA Novosti article.
What the Putin regime is claiming is in absolute accordance with what the Royal Dutch Shell CEO Ben van Beurden was saying on Tuesday at the Shell AGM. He bluntly made it clear that Shell’s priority is what is in the economic interests of Shell shareholders, not geopolitical concerns i.e. the invasion of Crimea. That explains why he happily bowed to Putin on Good Friday after the annexation. Ethics and moral issues are put to one side.
Interesting to note that a recent poll in Russia indicated that Putin has an 80% approval rating. Guess the other 20% are locked up in jail.
Extracts
ST. PETERSBURG, May 23 (RIA Novosti) – Oil and gas giants ExxonMobil and Royal Dutch Shell have expressed their readiness to continue working in Russia, Russian Energy Minister Alexander Novak said Friday. “Just now, literally right before the beginning of the session, we talked with the directors of Exxon and Shell and they reconfirmed their desire to continue expanding investment and cooperation with our companies,” Novak said during an interview with CNN on the sidelines of the International Economic Forum in St. Petersburg. The Russian Foreign Ministry, however, has repeatedly stated that economic ties, including energy cooperation, should not be damaged by political tensions.
‘Shell can celebrate all they want, but the fight is by no means over’
Extracts from an article published 23 May 2014 by the journal.ie
THE COMPLETION OF the longest tunnel in Ireland is being celebrated by Shell Ireland – but the works have not been without disruption or tragedy. The construction of the 4.9 kilometre-long tunnel has been mired in controversy over the years with many residents and activists protesting to stop the building of the pipeline and the tunnel that runs under Sruwaddacon Bay, a special area of conservation. …speaking to TheJournal.ie, Shell to Sea activist Maura Harrington said: “Shell can celebrate all they want, but the fight is by no means over.”
Related
The Garda Ombudsman investigation of police corruption allegations by Shell’s “Mr Fixit” contractor OSSL is still in progress.
Russian Energy Minister says ExxonMobil, Shell committed to Russia
ST PETERSBURG, Russia (Reuters) – Russian Energy Minister Alexander Novak said on Friday that oil majors Royal Dutch Shell and Exxon Mobil have confirmed their commitment to Russia and are eager to continue their work there.”(They’re) eager to continue work on projects in Russia,” Novak told the St Petersburg International Economic Forum.
(Reporting by Vladimir Soldatkin; Writing by Lidia Kelly, editing by William Hardy)
Shell cancels costly scrip dividend programme
Extracts from an article published by ShareCast 22 May 2014
Royal Dutch Shell will cancel its popular scrip dividend programme from the current quarter, which had become a high-profile source of embarrassment. The FTSE 100 company said the cancellation meant the second quarter interim dividend and future dividends, forecast at $11.8bn for the full year, will be settled entirely in cash, rather than offering a share-based alternative…
GAS from the controversial Corrib field should begin flowing next year
Shell’s Irish and German tunnelling team celebrate the completion of 4.9km long Corrib Gas Pipeline Tunnel yesterday.
Extracts from an independent.ie article by Paul Melia published 23 May 2014 under the headline: Gas will flow next year after Fionnuala finds light at end of tunnel
GAS from the controversial Corrib field should begin flowing from next year following completion of the country’s largest tunnel. It was originally expected gas would flow from the Mayo field back in 2003. The project attracted strong levels of local opposition, which has delayed the scheme. “The completion of the Corrib tunnel brings us a step closer to producing first gas in 2015 and to improving security of supply for the Irish energy market,” said Shell E&P managing director Michael Crothers.
The TRUTH will set you FREE.
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