Royal Dutch Shell Plc .com News Round-up 12 August 2014
A frosty reception for Shell sponsorship; Oil and Gas company debt soars to danger level; Shell a gigantic flea
By John Donovan
UK
The Telegraph City Diary column has commented on Shell’s embarrassment at arts sponsorship monies being returned to the company in Ireland. “First the Antarctic, now Ireland. The list of countries where Royal Dutch Shell receives a frosty reception continues to lengthen. The energy major has been told that its sponsorship money for the Emerald Isle’s biggest folk festival, the Fleadh Cheoil na hEireann in Sligo, is no longer acceptable, after eco-campaigners kicked up a storm.”
The Telegraph has published an alarming article under the headline: “Oil and gas company debt soars to danger levels to cover shortfall in cash” It warns: “The world’s leading oil and gas companies are taking on debt and selling assets on an unprecedented scale to cover a shortfall in cash, calling into question the long-term viability of large parts of the industry.”
Related: “Saudi Arabia gas project has failed, admits Shell”: 05 Jul 2014
AUSTRALIA
An article published by The Gladstone Observer contains a memorable comment on Shell’s long-standing shareholding in Woodside Petroleum. “The fact is that it has been a mutually detrimental relationship according to the Woodside board, which regards Shell as a gigantic flea in the company’s ear.”
Nigeria
The Nigeria Sun newspaper has published an article about the failure of Shell and the Nigerian government to clean up severe environmental pollution arising from Shell’s activities in the Niger Delta. “A United Nations Environment Programme (UNEP) detailed assessment of pollution in oil-producing areas of the region published in 2011 had earlier stated that it would take up to 30 years to clean up affected areas.”
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