NAV

Saturday, December 6, 2014

Shell might attempt to purchase BP

Authorities likely to wave through a Shell BP merger

Screen Shot 2014-10-28 at 12.29.57EXTRACTS FROM A FORBES.COM ARTICLE BY TIM WORSTALL PUBLISHED 6 DECEMBER 2014

If Royal Dutch Shell Buys BP Should The Authorities Ban The Purchase?

There’s interesting (and fun!) rumors floating around the London market that Royal Dutch Shell might attempt to purchase BP. These sorts of mergers (or takeovers) aren’t unusual in a commodity business like oil at a time of weak prices.
Here’s the story swirling around:
One of Britain’s oldest oil companies BP could be about to be sold to its biggest rival for a fiver per share.
The rumoured deal, if realised, would complete one of the most ignominious falls for the once great Persian Oil company that powered Britain’s Navy to victory during the First World War.
BP is now a sitting duck after the Gulf of Mexico disaster, Russian sanctions and the falling oil price combined to drive down the share price to £4.25. Analysts estimate the deal could be done if rival Shell offers a 16pc premium to that price, or about £5, to seal one of the biggest corporate takeovers in the history of the oil industry.
The rumours that surfaced earlier this week that Shell might be taking a closer look at BP are not that ridiculous and in the current climate of lower oil prices and falling profits they actually make perfect sense.
Of course, this is all only rumor so far: at least some of the talk coming from the bankers who would love to collect the fees for advising on a deal of such scale. But assume that it does progress, how much would the idea be in danger of being stopped on those anti-trust grounds? That really depends upon how the regulators define the market. There would most certainly be conditions applied to certain local markets, as above, but the basic deal itself would likely be waved through.


The TRUTH will set you FREE.

Haunting remains of the buried tank farm in the 1960s

Shell Rethinks $90M Toxic Contamination Settlement Over Secrecy Issues

Just days ago, we re-published an article from The Daily Breeze about Shell’s $90 million settlement with nearly 1500 residents of Carson, California, arising from a contamination class action lawsuit stemming from a former Shell oil tank farm.
A housing development was built over the remains of the buried tank farm in the 1960s.
Widespread petroleum contamination was subsequently discovered beneath hundreds of the homes in 2008 and residents sought compensation for decades of poor health and declining home values due to the contamination. They claimed they and their pets had been made seriously ill with ailments such as cancer, blood disorders and many other conditions.
Shell is apparently now having second thoughts about the settlement because the court has refused to allow the terms of the agreement to remain confidential.
In other words, Shell wanted to keep the settlement details secret, no doubt anxious about the prospect of further litigation from other contaminated sites.

The TRUTH will set you FREE.

Wanted: Shell Senior Legal Counsel

Wanted: Shell Senior Legal Counsel to evade Anti Bribery and Corruption laws?

Screen Shot 2014-10-30 at 09.22.43Unfortunately it is unclear if the lucky applicant is expected to advise Shell employees on how to avoid falling foul of bribery and corruption laws, or how to get round them. I suppose its a fine distinction.

By John Donovan

Just spotted an advert for the job of Senior Legal Counsel for Anti Bribery and Corruption at Royal Dutch Shell Group.
Apparently part of the job function is to provide specialist advice in connection with the Shell Anti-Corruption Manual, which probably has the same standing within the company as the outdated Shell Business Principles – just a theatrical prop designed to conjure up an illusion of honesty. 
Unfortunately it is unclear if the lucky applicant is expected to advise Shell employees on how to avoid falling foul of bribery and corruption laws, or how to get round them.
I suppose its a fine distinction. 
Looks like the advert has been on display for some time, which could perhaps explain why Shell seems forever mired in corruption scandals e.g. Nigeria and Ireland. 
I note the requirement that the applicant must be able to practice law in Texas. Wonder if that has anything to do with the Robert Writt case?  He is the courageous former Shell employee suing Shell for defamation in relation to a corruption case in which Shell is a key player. Shell tried to make him the fall guy for what occurred. 

Senior Legal Counsel – Anti Bribery and Corruption

Job description
The Shell Group is at the heart of the global energy and petrochemicals business and employs more than 90,000 people with operations in over 90 countries. A vacancy has arisen for experienced Anti-Bribery and Corruption Senior lawyer to join our ABC specialist team in London. The Anti-Bribery and Corruption lawyers (Subject Matter Experts) are part of the Shell Ethics and Compliance Office, itself part of the Shell Legal organisation, which also deals (inter alia) with Anti- Trust, Trade Controls and Data Privacy. They work closely with the Business and Functional Compliance Officers and their teams and provide specialist advice in connection with the Shell Anti-Corruption Manual and its procedures as well as the application of the principal international anti-corruption legislation, such as the FCPA and the UKBA.
In addition, they support other Shell lawyers in the negotiation of contracts with regard to ABC clauses and in M&A transactions, frequently dealing with their counterparts in competitor companies and contractors and suppliers, provide training to Shell staff in at-risk roles and monitor external developments in relation to new legislation and enforcement to ensure that the Shell procedures remain up to date and compliant.
Responsibilities:
Working with the other ABC lawyers in London, Nigeria, Hong Kong and elsewhere, you will be responsible for providing specialist ABC advice and support to Group companies on a wide range of issues, primarily ABC compliance advice in respect of the Anti-bribery and Corruption Manual and its procedures,due diligence questions and ABC investigations. You will be advising independently on a wide range of ABC law issues and will be expected to have experience in this area.
Knowledge and experience of the principal international ABC laws would be a distinct advantage. Sound legal experience and a calm,confident and practical, solutions-oriented approach. Strong presentation skills and a good team player with the ability to interact effectively with clients at all levels in the Shell organisation and other lawyers,both in-house and in private practice. Ability to work without daily supervision is essential. Language skills would be a definite advantage.
The successful candidates must be a hard teamworker, have the ability to multitask, possess the discipline to prioritise projects and conflicting demands,be able to delegate, respect confidentiality requirements,have the ability to firmly communicate with tact and diplomacy at multiple levels. Problem-solving and decision-making skills are a necessity as is an extensive knowledge of Shell policies and practices
Desired Skills and Experience
1. Excellent legal drafting skills.
2. Strong negotiation and counseling skills.
3. Experience with business transactions, including M&A.
4. Ability to work independently without the assistance of outside counsel.
5. Ability to meet deadlines and demonstrate flexibility.
6. Excellent analytical and organizational skills.
7. The candidate must be able and willing to see both the big picture and to handle details accurately and consistently.
8. Ability to communicate effectively verbally and in writing, including with senior level executives and overseas colleagues.
9. Ability to maintain confidentiality of sensitive information.
10. The candidate must be licensed to practice law in Texas, or able to obtain license in a reasonable timeframe.



The TRUTH will set you FREE.

Stichting Shell Pensioenfonds


Stichting Shell Pensioenfonds victim of $65 billion Bernie Madoff Ponzi scheme

Screen Shot 2014-10-30 at 09.22.43Shell probably hopes that we have all forgotten that Stichting Shell Pensioenfonds was a victim of the $65 billion Bernie Madoff Ponzi scheme.

By John Donovan
Shell probably hopes that we have all forgotten that Stichting Shell Pensioenfonds was a victim of the $65 billion Bernie Madoff Ponzi scheme. 
Their investment was through Fairfield Sentry, a now-defunct investment fund that placed its money with Bernie Madoff. 
Screen Shot 2014-12-05 at 17.50.11Extracts from a current news article:
The Dec. 11, 2008 discovery that Mr. Madoff’s New York-based brokerage firm was running a $65 billion Ponzi scheme put several VI-registered “feeder” funds into liquidation, including Fairfield Sentry, which had invested the overwhelming majority of its assets with Mr. Madoff.
The day after news of the fraud hit, Sentry investor Stichting Shell Pensioenfonds, the retirement fund of the international energy company Royal Dutch Shell, applied to the feeder fund to cash in its shares.
According to court documents, by the time Sentry had suspended redemptions on Dec. 22, 2008, Shell asked for and received an order from a Dutch court freezing the bank account in Ireland that contains the $72 million. That sparked a legal battle since fought in VI, Irish and Dutch courts.
The liquidator is trying to recover as much of Sentry investors’ losses as possible of an estimated $6 to $7 billion, liquidator Ken Krys said earlier this year. According to a Nov. 10 report published by the liquidator, Sentry has recovered more than $100 million in assets to date. The $72 million in the Irish bank account could soon be added to that total, according to a press release from the liquidator.
Extracts end
The liquidator may soon recover nearly $72 million to be redistributed to fraud victims.


The TRUTH will set you FREE.

CHURCH URGED SHELL AND BP TO FOCUS ON RENEWABLE ENERGY


How Church’s Leaning Toward Renewable Energy Will Affect BP and Shell
Screen Shot 2014-11-17 at 15.01.44
Screen Shot 2014-12-05 at 21.48.03
By: MICHEAL KAUFMAN
Published: Dec 5, 2014 at 10:29 am EST
Companies engaged in the oil businesses are increasingly in the limelight and under pressure to adopt techniques that will assure minimum carbon emissions into the environment. In a recent development, the Church of England (COE) has urged BP plc. (ADR) (NYSE:BP) and Royal Dutch Shell plc. (ADR) (NYSE:RDS.A) to cut carbon emission levels and invest more in renewable energy. The COE, along with church commissioners, that manage a $9.5 billion investment portfolio, and the Church of England’s pension board that manages a $2.34 billion fund, both plan to file shareholder resolutions on climatic change in the next four weeks.
The move was aimed to demonstrate the Church’s role in societal well-being. The Church has deep guidelines on which businesses to invest in, and which to avoid. The lead on the issue was taken by CCLA investment Management (The Church’s fund managers), which manages around $2.35 billion (1.5 billion pounds) in the CBF Church of England Funds.
Overall, the Church manages $9 billion in investment portfolios. It had expressed concerns over global warming’s impact on climatic change. According to latest research by the Intergovernmental Panel on Climatic Change (IPCC), the world is on a verge of a detrimental climatic change, and companies should lower their carbon exposure to avoid further damages. The Church particularly pointed towards BP and Shell, two of the largest oil companies in the world, which have the highest exposure to these carbon emissions of all the companies that are listed on the London Stock Exchange (LSE).
Edward Mason, the head of investment at the Church Commissioners, said: “If we are to avoid catastrophic climate change, the current business models of the energy majors are not sustainable in the long term.” He also indicated that oil companies have a higher responsibility, as their operations involve burning fossil fuels that contribute substantially to these climatic changes.
The COE has investments in both Shell and BP, which are two of the top-five investments in its $9 billion investment fund. The COE’s stake in Shell and BP are $156.25 million (100 million pounds) and $78.12 million (50 million pounds), respectively. Although the COE holds an overall stake of less than 1% each in both companies, it is highly optimistic that it will be able to draw support from over 100 shareholders. It believes that this issue holds great ethical significance, which would be the basis for it gaining support.
This intervention comes as a result of severe pressure on the Church to cancel its investments in the fossil fuel business; this is fueled by a meeting of the United Nations (UN) next week in Lima, Peru, which will comprise of ministers from over 200 countries. The meeting would discuss a draft text for the carbon reduction deal next year.
Mr. Mason also pointed out that these renewable forms of energy are the future of the oil industry, and if these companies want to sustain their profitability in the long-term, they would have to adapt to these alternate forms of energy. Considering the relatively smaller size of investments by the Church in the two oil giants, it would be difficult for it to convince the companies to adapt the newer model. The Church would require substantial support from other shareholders, which seems rather unlikely at the moment.

The TRUTH will set you FREE.

SHELL CIRCUMVENTED RA 7641

SYNDICATED ESTAFA


MY QUEST FOR SWINDLED 

RETIREMENT PAY BY SHELL



SWINDLING ITO, SYNDICATED ESTAFA


HOT PURSUIT
DUTY OF LAW ENFORCEMENT ENTITIES


SHELL SWINDLING OF RETIREMENT PAY 5TH YEAR

1001counts
SEE BELOW FOR THE 1001ST   TIME THE REITERATION OF DEMAND PAYMENT OF RETIREMENT PAY WHICH SHELL REFUSED TO HONOR IN THE PRESENCE AND DEEMED APPROVAL OF THE HONORABLE MAGISTRATES OF THE SUPREME COURT OF THE PHILIPPINES


Dishonest scales are an abomination to the Lord, but a just weight is His delight... Proverbs Chapter 11  v. 1
Retirement Pay Law circumvented by Shell subject to penal provision provided for by Article 288 of the Labor Code of the Philippines.





CONTENTS

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