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July 2017

We warned Shell in 2005 that Corrib would turn into a PR disaster

By: 
John Donovan - RoyalDutchShellPLC.com

An article we published on 3rd July 2005 warned in relation to the Corrib Gas project in Ireland: “Do we spy another PR disaster on Shell’s horizon…”

I went on to warn:

..there appears to be all of the ingredients present for another Shell PR disaster…

Posted Date: 
15 July 2017
Link: 

http://royaldutchshellplc.com/2017/07/14/we-warned-shell-in-2005-that-co...

Press Release: Shell leaving Ireland after damaging State institutions with Corrib

-- Shell sells out and departs leaving a toxic legacy behind --

It was announced yesterday that Shell is planning to sell its 45% stake of the Corrib Gas project to Canada Pension Plan Investment Board (CPPIB).


 

Shell to Sea today claimed that Shell caused considerable damage to all State institutions involved in the Corrib Gas project since their involvement began in 2002.

Some examples of the damage done to these State institutions:
 

 

  • Two former Shell sub-contractors with OSSL, have sworn in court that they delivered £25,000 of alcohol in 2007 (and other amounts in previously) to Gardaí involved in policing Corrib Gas protests at the request of Shell.[1]

Little surprise in north Mayo over Shell sale of Corrib share

By: 
Lorna Siggins
 

Royal Dutch Shell’s proposed sale of its major share in the Corrib gas field came as little surprise to residents in Erris, Co Mayo whose views are still divided on the multibillion euro project.

Posted Date: 
13 July 2017
Link: 

https://www.irishtimes.com/news/ireland/irish-news/little-surprise-in-no...

Corrib gas timeline: 20 years of protests and controversy

By: 
Irish Times

Energy company Shell has sold its 45 per cent stake in the Corrib gas field to a unit of Canada Pension Plan Investment Board (CPPIB) in a deal worth $947 million (€830 million).

Below is a timeline of the controversial gas field’s past.

Posted Date: 
13 July 2017
Link: 

https://www.irishtimes.com/news/ireland/irish-news/corrib-gas-timeline-2...

Shell’s Corrib exit leaves energy giants up to €2.5bn in the red

By: 
Joe Brennan - Irish Times

Shell’s 45% stake sale in natural gas field worth as little as €830m

 

Energy groups behind the controversial Corrib gas field off the Mayo coast are as much €2.5 billion in the red on their investment, as Shell’s move to sell a stake to a Canadian state pension fund has left it with loss of up to €1 billion.

Posted Date: 
13 July 2017
Link: 

https://www.irishtimes.com/business/energy-and-resources/shell-s-corrib-...

Losses on Corrib near €2bn as Shell sells up

By: 
Gavin McLoughlin - Irish Independent

The Corrib gas field has left Shell and its partners in the project with losses running to the best part of €2bn to date.

Shell announced yesterday it was exiting the project in a deal worth potentially as much as €1.08bn, selling its 45pc stake in the project to a Canadian pension fund, Canada Pension Plan Investment Board (CPPIB).

Posted Date: 
13 July 2017
Link: 

http://www.independent.ie/business/irish/losses-on-corrib-near-2bn-as-sh...

Shell faces $900m loss on Corrib Gas Field investment

By: 
RTE News

Oil company Royal Dutch Shell lost almost €800m on its investment in the Corrib Gas Field, from which it is now planning to exit. 

Shell holds a 45% share of the gas deposits off the north Mayo coast but is to sell off its stake for more than €1 billion. 

In a statement today, it said it had reached agreement with the Canada Pension Plan Investment Board (CPPIB) to sell all of its interests for €1.08 billion.

Posted Date: 
12 July 2017
Link: 

https://www.rte.ie/news/business/2017/0712/889640-shells-corrib-sale/

Shell loses about €1bn on Corrib foray amid Canadian stake sale

By: 
Joe Brennan - Irish Times

Energy giant Shell has sold its 45 per cent stake in the Corrib gas field to a unit of Canada Pension Plan Investment Board (CPPIB) in a deal worth up to $1.23 billion (€1.08 billion), crystallising about a billion euro of losses on a decade-and-a-half of heavy investment in the controversial project .

Shell will take an impairment charge of around $350 million against its current balance sheet valuation of the stake in the gas field off Co Mayo when the deal completes in the second quarter of next years. It will also write off $400 million of losses previously booked to reflect euro-dollar currency fluctuations over the lifetime of the stake.

Posted Date: 
12 July 2017
Link: 

https://www.irishtimes.com/business/energy-and-resources/shell-loses-abo...

Shell to sell off its stake in Corrib Gas Field for over €1 billion

By: 
RTE News

Oil company Royal Dutch Shell is to sell off its shares in the Corrib Gas Field for more than €1 billion. 

The company holds a 45% share of the gas deposits off the north Mayo coast.  

In a statement this morning, it said it had reached agreement with the Canada Pension Plan Investment Board (CPPIB) to sell all of its interests for €1.08 billion.

The deal means that Shell will no longer have any involvement in the operation of the project.

Posted Date: 
12 July 2017
Link: 

https://www.rte.ie/news/business/2017/0712/889640-shells-corrib-sale/