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RDSB - Nigeria Court Case

General discussions about equity high-yield income strategies
PrefInvestor
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RDSB - Nigeria Court Case

#256640

Postby PrefInvestor » October 8th, 2019, 6:34 pm

Hi All, Read a few things about this online and it sounds like it could be a big deal given the extent of the damage to the Niger Delta etc. and impact on peoples lives there. Been brewing a very long time I think and I get the impression that there are court cases going on ATM in both the UK and Holland. Just wondering if this is Shell's Macondo ?.

Appreciate any informed opinion on the likely impact on the company.

ATB

Pref

monabri
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Re: RDSB - Nigeria Court Case

#256647

Postby monabri » October 8th, 2019, 7:16 pm

This is all I can see on RDSB ( Nigeria.) ..dated 1st March 19.


https://www.proactiveinvestors.co.uk/co ... 15586.html

dspp
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Re: RDSB - Nigeria Court Case

#256650

Postby dspp » October 8th, 2019, 7:33 pm

monabri wrote:This is all I can see on RDSB ( Nigeria.) ..dated 1st March 19.


https://www.proactiveinvestors.co.uk/co ... 15586.html


There are some more recent ones (2 Oct 2019, and some others for background):

https://uk.reuters.com/article/us-eni-n ... KKBN1WH250

https://uk.reuters.com/article/nigeria- ... KL5N26N4XB

https://www.reuters.com/article/us-shel ... SKBN1OG0YQ

https://www.ft.com/content/d0fac854-726 ... eb837566c5

Malcolm Brinded is long time Shell senior mge.

A lot you read about Shell in Nigeria is written by the bleeding hearts club who don't know, and don't want to know, the realities of the situation.

regards, dspp

PrefInvestor
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Re: RDSB - Nigeria Court Case

#256678

Postby PrefInvestor » October 8th, 2019, 9:15 pm

Well those articles are a lot more positive for Shell than the ones that I was looking at, see below:-

https://qz.com/399765/nigerias-delta-oi ... -30-years/

https://www.offshore-technology.com/fea ... f-scandal/

https://www.business-humanrights.org/en ... iobel-wiwa

https://www.bnnbloomberg.ca/shell-units ... -1.1328268

Admittedly some of these are quite old, but on the face of it they sound pretty serious to me. Shell aren’t the only oil company involved in Nigeria as I understand it but I don’t see any others cited in the current UK court case ?.

Anyway I’d just like to understand whether this is really a big issue or not.

ATB

Pref

dspp
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Re: RDSB - Nigeria Court Case

#256683

Postby dspp » October 8th, 2019, 9:50 pm

PrefInvestor wrote:Well those articles are a lot more positive for Shell than the ones that I was looking at, see below:-

https://qz.com/399765/nigerias-delta-oi ... -30-years/

https://www.offshore-technology.com/fea ... f-scandal/

https://www.business-humanrights.org/en ... iobel-wiwa

https://www.bnnbloomberg.ca/shell-units ... -1.1328268

Admittedly some of these are quite old, but on the face of it they sound pretty serious to me. Shell aren’t the only oil company involved in Nigeria as I understand it but I don’t see any others cited in the current UK court case ?.

Anyway I’d just like to understand whether this is really a big issue or not.

ATB

Pref


Pref,
You [sue] the ones with deep pockets in the easiest jurisdictions, who have the most face to lose. I think that Shell have typically been one of the best in Nigeria and elsewhere. That's not to say that the shareprice isn't always at risk from these things.
regards, dspp

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Re: RDSB - Nigeria Court Case

#256728

Postby ReallyVeryFoolish » October 9th, 2019, 9:48 am

With Shell at an absurd PE valuation and yield, any more negative sentiment will be a big opportunity. I recently bought a boat load of RDSB down near the 2200's. Almost like free money.

dspp
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Re: RDSB - Nigeria Court Case

#256762

Postby dspp » October 9th, 2019, 12:26 pm

Courtesy link from John Kemp Reuters see this which includes a climate risk weighting slide for the top 24 oil majors.

https://www.reuters.com/article/us-oil- ... SKBN1WO0F6

RDSB appears as third best. Admittedly that is climate risk, but the right hand column for governance gives an insight into wider RDSB group in this respect.

Image

https://www.reuters.com/article/us-oil- ... SKBN1WO0F6

Hope that helps,
dspp

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Re: RDSB - Nigeria Court Case

#256774

Postby PrefInvestor » October 9th, 2019, 12:57 pm

Hi dspp, Thanks for the chart in your previous post it is interesting. Just not sure that it addresses the cost issues that might come out of these two Nigeria related court cases, which sound like they might be significant to me. I am confident that these days that Shell ARE a more environmentally friendly oil company, but the Nigeria pollution was caused a long time ago and has never been cleaned up properly by the sound of it.

ATB

Pref


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