False cleanup claim settlement

Shell will forfeit a chance to collect up to $150 million from a state-run fund that reimburses oil companies for cleaning up leaking underground storage tanks. The company also will pay $20 million in penalties under a settlement, by California officials, bringing the total cost to as much as $170 million. The whistleblower, who informed the Water Board that […]

Facing debt challenge

Due to the downturn in oil prices the Company is reportedly having issues paying down its debt. Without loan guarantees from the tribal council, NNOGC has been left to try to refinance existing loans, consider selling some the company’s assets or explore filing Chapter 11 bankruptcy protection. Spokesperson: We are considering all avenues to pay down our bank debt […]

Moves out of downtown Houston

Shell largely abandons its iconic tower in downtown Houston and consolidates workers on the west side of town in its Woodcreek complex in the Energy Corridor and the Shell Technology Center a few miles south of Woodcreek. Only Shell’s energy trading team will remain downtown. The move – largely to cut costs in the ongoing oil […]