Ananova.com: Reserves Crisis Flares At Shell
The reserves crisis at Shell has resurfaced with the oil giant restating its stocks for the fourth time this year.
Shell shocked the City by announcing ahead of its annual report on Friday that it was lowering its reserves by a further 120m barrels.
The downgrade relates to royalties paid on properties in Canada and means that Shell’s accessible stocks are now 4.47bn barrels lower than previously thought at the start of 2004.
The latest downgrade was due to accountancy policy changes and would have no impact on its reported cash flows, the company said.
Reserves are an oil company’s most valuable asset, and any reclassification into less certain categories is a serious concern for investors.
Shell shocked investors in January by slashing its proven oil and gas reserves by 20%.
Further smaller reserves cuts, while not as dramatic as the first, have dealt further blows to shareholder confidence.
The scandal led to the ousting of Chairman Philip Watts, oil and gas chief Walter van de Vijver and Chief financial officer Judy Boynton, and has led to a probe by US regulators. Analysts say the Shell scandal had raised questions about reserves accounting throughout the whole industry.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
