NAV

Sunday, January 11, 2015

CAROUSEL NEIGHBORHOOD OF CARSON:HOME SWEET HOME

Carousel neighborhood of Carson: Home Sweet Home

Screen Shot 2015-01-06 at 21.26.38At some point, the three underground tanks and drainage fields that had been connected to the Shell oil refinery began to leak oil and chemicals – turning a once-appealing neighborhood into a place where hundreds of homes sit atop 161,700 cubic yards of toxic sludge. Ultra-hazardous chemicals were found in the soil, including methane and benzene, which have been linked to melanoma and lymphoma.

EXTRACTS FROM AN ARTICLE BY MATT REYNOLDS PUBLISHED BY COURTHOUSE NEWS SERVICE ON 9 JAN 2015 UNDE THE HEADLINE:
“Shell close to $90M Payout for Toxic SoCal Neighborhood”
LOS ANGELES (CN) – A state court judge looks set to approve a $90 million settlement with residents of a Carson neighborhood sitting on top of a sludge of petroleum waste, pending a final objection from the oil giant’s developer co-defendant in the case.
Shell also entered into an agreement with the California water quality control board to spend $140 million to clean up the 50-acre neighborhood. That’s in addition to the $40 million Shell has already spent remediating the property.
Five years ago, residents of the Carousel neighborhood of Carson – 17 miles south of downtown L.A. – sued Shell Oil and real estate developer Barclay Hollander, with the support of high-profile environmental activist Erin Brockovich. Barclay is owned by multinational Dole Food Company.
The suit alleged the oil giant knew that hundreds of family homes would be built above three underground tanks when, in the late 1960s, it transferred part of the site to the developer.
Shell discovered that oil and carcinogenic chemicals had leaked into soil beneath the residential area that 1,491 people call home in 2009.
At some point, the three underground tanks and drainage fields that had been connected to the Shell oil refinery began to leak oil and chemicals – turning a once-appealing neighborhood into a place where hundreds of homes sit atop 161,700 cubic yards of toxic sludge.
Ultra-hazardous chemicals were found in the soil, including methane and benzene, which have been linked to melanoma and lymphoma.
For some residents of Carousel, the impact on their health and community has been obvious. Pets have had tumors; residents have been diagnosed with cancer and blood disorders. Oil deposits have seeped into homes, and parents have taken to warning their children not to go outside and play in the grass.
Under the proposed cleanup plan, Shell will remove contaminated soil to 5 feet deep from 207 homes and to 10 feet from another 85 properties. In addition to replacing what it removes with clean soil, Shell will install a venting system at homes and in streets to disperse toxic fumes and will continue to monitor and remove oil from groundwater.
But there is no plan to remove the underground storage tanks.
Some residents likened the cleanup to a glorified landscaping job. Others noted that there was no contingency when an earthquake strikes.

RELATED: Shell Halts $90-Million Payout for Toxic Neighborhood after Judge Says Deal Can’t Be SecretScreen Shot 2015-01-07 at 18.44.37


The TRUTH will set you FREE.

Friday, January 9, 2015

Panic sets in: Shell Canada job cuts and other NEWS

Panic sets in: Shell Canada job cuts

Screen Shot 2015-01-06 at 21.26.38From Business News Network: 9 Jan 2015

BNN Exclusive: Shell Canada lays off oil sands workers

In the face of collapsing crude prices, Shell Canada confirms to BNN it will reduce its oil sands workforce. The company says less than 10 percent of its total oil sands headcount will be impacted, which currently stands at roughly 3,000. Western Canadian Select, the country’s heavy oil benchmark, fell to $33.23 a barrel on Jan. 6, the lowest level in six years according to Bloomberg News.

RELATED
Shell’s Canadian Oil-Sands Operations to Cut Jobs: Dow Jones Newswires
CALGARY-Royal Dutch Shell PLC said Friday it plans to cut jobs at its Canadian oil-sands operations, becoming the first major energy company to shed workers in Canada’s oil patch amid a recent swoon in global crude oil prices.
Read more: http://www.nasdaq.com/article/shells-canadian-oilsands-operations-to-cut-jobs-20150109-00541#ixzz3OMNywc7r

Panic sets in: Shell books supertankers to store crude at sea

Screen Shot 2015-01-06 at 21.26.38Shell books supertankers to store crude at sea

iNVEZZ.com, Friday, January 09, Royal Dutch Shell Plc (LON:RDSA) has this week hired supertankers to store crude at sea in an attempt to stockpile oil supplies following the plunge in world prices, Reuters has reported. Shares of the Anglo-Dutch group have fallen so far in today’s trading session.

Shell to Sell Malaysian Refinery?

Screen Shot 2015-01-06 at 21.26.38From a Reuters article published Friday 9 Jan 2015 under the headline:

“Malaysia’s Shell Refining explores options in face of weak margins”

Jan 9 (Reuters) – Malaysia’s Shell Refining Company will explore options including the sale of its Port Dickson refinery or the conversion of operations to a storage terminal in the face of the poor outlook for refining margins, it said on Friday.
“The Board has concluded that refining margins are expected to remain depressed due to overcapacity in the global refining industry”…

Royal Dutch Shell Plc a Basket Case Long After 2015?

Screen Shot 2015-01-06 at 11.59.38From an article byRoyston Wild published Friday 9 Jan 2015 by The Motley Fool under the headline:

“Why Royal Dutch Shell Plc, BHP Billiton plc And Royal Bank of Scotland Group plc Will Remain Basket Cases Long After 2015″ 

Royal Dutch Shell has seen its earnings forecasts painted with red ink; Shell is expected to see earnings drop a meaty 15% in 2015; …the effect of a depressed oil price is likely to put many producers out of business…; Shell could be forced to hive off even more of its assets…

Like the rest of the oil sector, Royal Dutch Shell (LSE: RDSB) has seen its earnings forecasts painted with red ink by City analysts in recent weeks.
Shell is expected to see earnings drop a meaty 15% in 2015, to 295.3 US cents per share. But while a 10% improvement is anticipated for next year, to 325.5 cents, a slumping oil price suggests otherwise. The Brent benchmark’s nosedive took in a fresh multi-year trough below $50 per barrel this week, the lowest since mid-2009, and a figure of $20 before the year is out is being touted with increasing confidence.
While signs of stagnating global economic growth are not helping Shell’s earnings prospects, the main culprit behind the black gold price decline is the refusal of OPEC to slash output, as well as swathes of US shale production hitting the market.
In the long term, the effect of a depressed oil price is likely to put many producers out of business, in turn improving the market imbalance. But until such measures filter through to the market, Shell could be forced to hive off even more of its assets to de-risk and bolster the balance sheet, a situation which could further undermine the company’s earnings prospects in coming years.

RELATED: Market Collapse: 5 percent of Shell’s capital invested in money-losing projects?

Oil Price Crash Threatens Shell and BP’s Dividends

Screen Shot 2015-01-09 at 09.04.47
Screen Shot 2015-01-09 at 12.16.35

Should BP and Shell conserve cash or pay out dividends to please shareholders? Bidness Etc discusses the dilemma being faced by the oil giants amid plummeting crude oil price

By: MICHEAL KAUFMAN
Published: Jan 9, 2015 at 6:57 am EST
In recent months, questions have been raised if it is prudent for companies to pay out dividends or build up cash reserves. With crude oil falling below the $50 per barrel barrier, many energy firms have had to cut their capital expenditures (capex), halt expansion plans, get more debt, and sell off assets.
Sacrificing revenue growth and selling off valuable assets is not a sustainable way to balance cash flows, but should the companies continue to pay billions of dollars in dividends? Perhaps, it would be wiser to withhold dividend payments to protect the company from negative impacts of falling cash flows.
Bidness Etc looks at two oil companies who have a strong and longstanding history of regular dividend payments. BP plc (ADR) (NYSE:BP) and Royal Dutch Shell plc (ADR) (NYSE:RDS.A) are expected to pay out billions of dollars in dividends for 2014. The official dividend announcement for Shell and BP for the fourth quarter of fiscal year 2014 will be made on January 29 and February 3, respectively. Analysts estimate Shell to pay $6.9 billion and BP to pay $6.71 billion for the fourth quarter, taking the dividends’ total to $13.6 billion.
According to a recent research conducted by Citigroup Inc (NYSE:C), Shell’s estimated capex and dividend payments for 2014 are 100% of its cash flow for the year. As per the company’s current plans, the capex and dividends for 2015 would be nearly 130% of its operating cash flow for the year. This is an alarming statistic for the company. It implies that 30% of the company’s capex and dividends will have to be financed through debt or asset disposals. This poses a significant threat for the company as borrowing will make the oil giant highly leveraged.
According to the previously mentioned research from Citigroup Equity Research division, BP’s capex and dividend payments for 2014 are 102% of its cash flow for the year. The figure is estimated to rise to 124% for 2015. BP would have to finance 24% of its capex and dividends through debt or asset disposals.
Raising capital through debt markets has its own risks, which can be offset by investing in growth. Raising debt to pay off dividends makes little sense from a financial and economic perspective. It does not serve the purpose of maximizing shareholder wealth – the holy grail of management objectives. Meanwhile, asset disposals can become a challenge and hinder future growth potential of the company.

BP To Cut Jobs And Capital Spending

Screen Shot 2015-01-09 at 09.04.47
Screen Shot 2015-01-09 at 09.05.00
Screen Shot 2015-01-09 at 09.05.40

Screen Shot 2014-12-04 at 20.54.03Bidness Etc discusses the capital spending reduction and job cuts planned by BP for this year and the reasons for doing so. Future prospects of the oil giant are also looked upon

By: MICHEAL KAUFMAN
Published: Jan 8, 2015 at 8:56 am EST
BP plc (ADR) (NYSE:BP) is looking to divest more assets in the US as effects of lower crude price continue to take their toll on the oil companies. Crude oil price since June has fallen over 50%. West Texas Intermediate during pre-market trading on Thursday gained 0.3% to $48.9, while Brent crude was trading at $51.2 per barrel. Currently crude oil price is hovering around its five-and-a-half year low.
In addition to falling oil price, the British oil major has been charged a maximum fine of $18 billion regarding the 2010 Gulf of Mexico oil spill. Therefore, to improve its liquidity position BP is undertaking major divestments and has significantly reduced capital spending. BP has undertaken asset divestitures of $42 billion and further asset divestitures worth $10 billion are expected by the end of this year.
Adding to the divestitures, the company has reduced capital spending, vendor spending, and salaries of employees. In 2012, the company undertook capital expenditure of $10.5 billion. In 2013, the number was down 15.3% to $9.1 billion. Similarly the salaries and benefits paid to the employees amounting to $5.5 billion in 2012 fell to $4.9 billion in 2013. Spending on vendor spending also fell 12% to $22 billion in 2013.
The company has now indicated to adopt a “value-over-volume” program, in which more focus would be on quality rather than high volumes. To comply with the new strategy BP announced earlier in December 2014 to cut significant amount of its US workforce. Before the start of 2013, BP employed around 20,000 workers in the US. In 2013, the number was cut by 2,000 with more cutoffs expected in 2015. BP has also sold its stake in four Alaskan oilfields to Hillcorp.
Oil and gas production for BP has fallen. The company’s production in 2012 stood at 675,000 barrels of oil equivalent per day (boe/d). However, the number was reduced to 628,000 boe/d in 2013. The London-based company in July signed a deal with Pantera Energy Co. worth $390 million. In accordance with the deal, BP would sell 270,000 acres of land in the Sherman and Monroe counties in Texas.
BP stock is up 1.5% during pre-market hours today to $36.47. Since 2010, the stock has tumbled over 36%. The divestments and the cutbacks are required by the company to rejuvenate investor confidence. Divestments, layoffs, and reduction in capital spending will mean that the company will have more cashavailable to be distributed to the shareholders.
Out of the 15 analysts who cover BP stock, six rate it a Buy and remaining analysts have given it a Hold rating. The average 12-month target price on the stock is $46.57. On January 5, Oswald Clint, an analyst at Sanford C. Bernstein Ltd., reiterated a Market Perform rating on the stock but slashed the 12-month target price by 18% to $41.


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.





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