SHELLNEWS.NET: WHY WE CAN’T BE SURE OF SHELL: SocialFunds.com article identifies a common denominator between the reserves scandal and Sakhalin-2 cost overrun debacle: the issue of trust: 9.52am Friday 22 July 2005
By Alfred Donovan
For over a decade the author of this article has publicly drawn attention to Shell management’s predisposition to hide information from its own shareholders.
Incontrovertible documentary evidence of Shell’s willingness to engage in cover-up and deliberate deceit is published on ShellNews.net. The documents confirm the involvement of Sir Mark Moody-Stuart, E & P CEO Malcolm Brinded, Shell Legal Director Richard Wiseman, and many other senior current and former Shell Directors. Such practices have been endemic within Shell.
Shell management has taken the view that it can engage in unprincipled behaviour while cloaked by its Statement of General Business Principles which pledge honest, integrity and openness in all of Shell’s dealings. If Shell management had abided by its own much trumpeted code-of-ethics, the scandals that have brought about the destruction of its reputation and the need for a fresh start in the guise of Royal Dutch Shell plc, would never have occurred. Unfortunately the successful birth of the new corporate vehicle has been seriously undermined by the retention of incompetent discredited management from Royal Dutch Petroleum Company and Shell Transport – including Jeroen van der Veer and Malcolm Brinded, and by the Sakhalin-2 cost overrun debacle.
It is inconceivable that Shell was not aware of the Sakhalin-2 $10 BILLION OVERRUN at the time of the AGM’s held on 28 June. Yet this vitally important information was withheld from shareholders. Does this mean that further Class Action lawsuits are in prospect? Logic suggests that the SEC and the FSA must also be looking at this matter very closely.
Shell management had the audacity to commence and end the London AGM with Bing Crosby singing one of the most famous and successful advertising jingles of all time - "You can be Sure of Shell... Bing must be turning in his grave…
ARTICLE ENDS
RELATED LINKS
THE SOCIALFUNDS.com ARTICLE: http://www.socialfunds.com/news/article.cgi/article1761.html
LEGAL STUFF (NO NEED TO READ UNLESS YOU ARE A SHELL LAWYER, OR SOMEONE WITH A DEEP INTEREST IN SHELL OR FREEDOM OF EXPRESSION, OR COPYRIGHT ISSUES)
LEGAL STATEMENT BY THE ROYAL DUTCH SHELL GROUP REGARDING THIS WEBSITE: I, Alfred Donovan, would like to remind Shell lawyers that the "group" has placed on record its acknowledgement of my freedom to air my opinions about Shell on ShellNews.net. I did of course already have rights under various freedom of expression conventions and declarations but its nice to know that Shell, one of the multinational rulers of our planet, recognises this fact. The Royal Dutch Shell Group made the following unusual statement in a legal document in regards to this website: - "The... Group... have been aware of the site since the beginning and whilst they would not endorse or agree with many of the comments made by the Respondent on the website, they have taken the view that the Respondent is entitled to express his opinions and to use the Internet as a medium for doing so." This statement drafted by Shell lawyers and authorised by the "Group", amounts to tacit approval/acceptance/recognition of this website by Shell. It was submitted to The World Intellectual Property Organisation in May 2005 by Shell International Petroleum Company Limited on behalf of the Royal Dutch Shell Group in proceedings against me, Alfred Donovan, as the "Respondent" (owner) of three domain names, including www.royaldutchshellplc.com. It remains a mystery why Shell has taken an entirely different view regarding the fundamental human right to freedom of expression in respect of the former Shell geologist Dr John Huong, the well-known Shell whistle-blower, in relation to postings under his name elsewhere on this same website. Eight companies within the Royal Dutch Shell Group collectively obtained a High Court Injunction to silence him. The Injunction remains in force.
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