Jul 16th, 2014
by John Donovan.
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.
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Posted in: Ben van Beurden, Business Principles, Gazprom, GoogleNews, Iran, John Donovan, Oil, Royal Dutch Shell Plc, Russia, Sakhalin II, United States.
Jul 16th, 2014
by John Donovan.
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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The TRUTH will set you FREE.
By John Donovan
