Shell announces 'force majeure' postponement of Yuzivske drilling Journal Staff Report |
Force Majeure - wikipedia - here.
Common clause in contracts. Frees both parties from obligations. Refers to unavoidable/chance occurrences: eg act of god, flood, earthquake ... strikes, riots, war etc.
Shell - US-based oil company - here.
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Admonished on Twitter for not checking my facts. Ooops. Didn't read beyond 'US based'.
Wikipedia:
The U.S. head office is in Houston, Texas. Shell Oil Company, including its consolidated companies and its share in equity companies, is one of America’s largest oil and natural gas producers, natural gas marketers, gasoline marketers and petrochemical manufacturers.
Shell Oil Company is the United States-based subsidiary of Royal Dutch Shell, a multinational "oil major" of Anglo-Dutch origins, which is amongst the largest oil companies in the world.
Anyway:
"Shell Oil Company is a 50/50 partner with the Saudi Arabian government-owned oil company".While this relates to projects in the US gulf coast (I think), it would be fair to say that Saudi Arabia would then have a keen interest in the affairs of Shell.
So this goes right back to my original point: US and NATO etc, are huffing and puffing and strongly 'condemning' for $$$$. It's all about the dollars.
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