MOSCOW (MRC) -- Former Shell Oil U.S. President John Hofmeister, who led the oil firm's U.S. efforts to help restore investor confidence after an accounting scandal nearly two decades ago and later set up an energy advocacy group, has died, said Reuters.
A memorial service is planned June 29 in Houston. He died on May 24 after a short illness, his family said on Sunday night. Hofmeister was named president of the U.S. arm of Royal Dutch Shell (RDSa.L) in 2005 shortly after a reserves accounting scandal hit its parent. The scandal led to several restatements and cost $350 million to settle investor lawsuits.
He launched a U.S. outreach effort the following year that took Shell executives to 50 U.S. cities to mend the company's reputation and gather views on energy security that he used to guide the company. Hofmeister, who spent more than a decade at Shell, became an industry critic and advocate for alternative fuels after his 2008 retirement. He formed energy policy and advocacy group, Citizen for Affordable Energy, and called for the embrace of long-term energy policies in his 2010 book "Why We Hate the Oil Companies."
Hofmeister joined the board of Australia's ioneer Ltd (INR.AX), which is developing U.S. sources of lithium, to advance prospects for energy transition. "John was a genius at his ability to understand the scale and technology needed to make this energy transition succeed," said James Calaway, ioneer's chairman. Hofmeister was an unusual oil chief, one of the few without an engineering background, and outspoken on the industry's need for engagement. He derided politicians who used price swings to batter energy executives while privately seeking donations.
In a 2014 CNN interview, he recalled being asked in his last year at Shell to testify before Congressional panels probing price spikes and then hit up for campaign donations by panel members, a system he called "pay to play." Hofmeister joined Shell in 1997 as group human resources director after stints at General Electric and other companies.
As MRC reported earlier, last week, a court in the Netherlands ordered Shell to cut its emissions by 45% by 2030, putting pressure on the company to move faster than it had otherwise planned.
Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 576,270 tonnes in the first three month of 2021, up by 4% year on year. Low density polyethylene (LDPE) and high density polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market totalled 410,890 tonnes in January-March 2021, up by 56% year on year. Supply of homopolymer PP and PP block copolymers increased.
Royal Dutch Shell plc is an Anglo-Dutch multinational oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the biggest company in the world in terms of revenue and one of the six oil and gas "supermajors". Shell is vertically integrated and is active in every area of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading.
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