August 30, 2014 4:45 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Shell Oil Company

Company Overview

Shell Oil Company, through its subsidiaries, engages in the exploration, production, refining, transportation, distribution, marketing, and trading of oil and gas, and petrochemical products in the United States and internationally. It offers fuels for aircraft; engine oils and lubricants; transport, heating, and industrial fuels to corporate and distributing companies in various industries, including transport, mining, manufacturing, power generation, and home energy; and petrochemicals for use in plastics, rubbers, fibers, foams, coatings, adhesives, solvents, additives, textiles, mattresses, car components, paints, computer casings, soaps, and washing detergents, as well as card services....

1000 Main

12th Floor

Houston, TX 77002

United States

Founded in 1922

Phone:

713-767-5300

Key Executives for Shell Oil Company

President and Director of The Upstream Americas Business - Royal Dutch Shell Plc
Age: 56
Chief Financial Officer
Age: 62
Chief Executive Officer of Shell Trading Gas & Power and Global Vice President of Gas & Power of Shell Trading
Age: 54
President of Shell Energy North America (US) LP
Senior Vice President
Compensation as of Fiscal Year 2014.

Shell Oil Company Key Developments

Shell to Pay $4 Million over Allegations of False Reimbursement Claims for Environmental Cleanup Projects

Shell Oil Company will pay $4 million to resolve allegations that it received reimbursement payments from a state fund for environmental cleanup projects even though the company sought and received payments from its insurers for the same gas station sites. The alleged false claims by Shell and its joint venture, Motiva Enterprises, LLC, involved more than a hundred gasoline stations that both companies operated throughout Massachusetts. The state's Underground Storage Tank Petroleum Product Cleanup Fund program (UST Fund) was established to expedite the cleanup of environmentally dangerous leaks from underground storage tanks, such as those commonly found at gasoline stations, by reimbursing owners and operators for eligible expenses incurred in remediating the sites. To fund the program, the Commonwealth charges tank registration and delivery fees. Under the UST Fund's regulations, claimants must disclose if they sought reimbursement from another source including insurance for expenses they submit to the UST Fund. If claimants do recover money from both insurance and the UST Fund for the same expenses, they must pay back the UST Fund.

The State of New Hampshire Sues Shell Oil Co. for Failed to Disclose its Insurance Policy

A lawsuit by the state of New Hampshire claims that Shell Oil Co. deliberately failed to disclose that its insurance policy would have been able to cover the more than $2.4 million cost of contamination cleanups at several sites in the state. The state is seeking full reimbursement plus interest and said Shell is also liable for payments involving applicants at former Shell facilities. The suit said oil from underground storage tanks on at least 14 of the sites containing gas stations operated and owned by Shell in the state from the 1930's to 1998 seeped into soil and groundwater over the decades. The state has funded the cleanup projects via a state fund created in 1988 that is paid for by a tax on imported oil.

Southeast Louisiana Flood Protection Authority Sues Apache Corp., BP America Production Co., Chevron USA Inc., ConocoPhillips Co., Exxon Mobil Corp., Shell Oil Co. and The Pickens Co. Inc. over Erosion

The oil and gas industry has cost Louisiana hundreds of acres of coastal land that serve as a natural buffer against flooding from hurricanes, officials in charge of New Orleans-area flood protection say in a lawsuit filed in Orleans Parish Civil District Court seeking to hold dozens of companies responsible. The Southeast Louisiana Flood Protection Authority-East's board of commissioners claim that corrosive saltwater from a network of oil and gas access and pipeline canals has killed vegetation and swept away mountains of soil. About 100 companies are named as defendants in the lawsuit, including Apache Corp., BP America Production Co., Chevron USA Inc., ConocoPhillips Co., Exxon Mobil Corp., Shell Oil Co. and The Pickens Co. Inc. The suit says the U.S. Geological Survey has determined that "altered hydrology" associated with oil and gas activities is one of the primary causes of coastal land loss.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 19, 2013
Shell Oil, 45 Producing Wells And 600,000 Acres In nine Kansas Counties
 

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