Royal Dutch Shell and U.S. Sanctions on Russia
Shell CEO Ben van Beurden bows to President Putin during a meeting held on 21 April 2014
By John Donovan
Royal Dutch Shell directors must be feeling anxious again.
For some years Shell continued to trade with Iran despite U.S. sanctions and engaged in machinations in an attempt to disguise what was going on.
Today, President Obama escalated sanctions against Russia, targeting in particular Russian energy giant Rosneft and Gazprombank, the financial arm of Gazprom.
Rosneft and Gazprom are controlled by the Putin regime and both have important business dealings with Shell.
Shell’s future depends to some extent on maintaining good relations with the Russians.
This is why Ben van Beurden, the Chief Executive of Royal Dutch Shell Plc was bowing and scraping when he had an audience with Putin on Good Friday.
On the other hand, bearing in mind the size of Shell’s assets in America, RDS will also be fearful of upsetting the U.S. authorities if it decides to once again ignore or circumnavigate U.S. sanctions.
Obama Widens Sanctions Against Russia in Ukraine Face-Off:New York Times 16 July 2014
Tagged: Ben van Beurden · Gazprom · Iran · John Donovan · Rosneft · Royal Dutch Shell Plc · Russia
Shell says makes 3rd major discovery in Norphlet play in Gulf
Reuters article published Tuesday 15 July 2014
(Reuters) – Royal Dutch Shell Plc said on Tuesday it had found roughly 100 million barrels of oil equivalent (boed) in the Gulf of Mexico’s Norphlet formation, its third discovery there.
The company, the gulf’s largest operator, found the oil near its Rydberg well, roughly 75 miles off the Louisiana coast.
The company drilled the well about 26,300 feet, including about 7,400 feet of water, and found oil reserves about 400 feet deep.
Shell is the project’s primary operator, and partners with Ecopetrol SA and CNOOC Ltd’s Nexen.
(Reporting by Ernest Scheyder; Editing by Jeffrey Benkoe)
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