Houston Oil & Gas Journal: Royal Dutch/Shell trims its 2002 reserves again
Posted 26 May 2004
By OGJ editors
HOUSTON, May 25 — Royal Dutch/Shell Group has cut its proved oil and natural gas reserves estimate for the fourth time this year, and the company Monday reported a total reserves downgrade of 4.47 billion boe for 2002 reserves.
In April, the company had reported a total downgrade of 4.35 billion boe for 2002. In the latest news release issued from the London office, Shell said the 4.47 billion boe “relates to adjustments for royalties paid in cash on certain Canadian properties.”
“With a reserve replacement ratio of 2003 of 63%, proved reserves were 14.35 billion boe at Dec. 31, 2003, or 10.2 years of production (all excluding oil sands),” Shell said.
The company intends to release its annual report on Friday as previously scheduled.
“The annual reports and accounts will reflect a restatement of reserves data and related financial impact, and we have implemented a number of accounting policy changes. We have also adopted a stricter application of some specific accounting standards,” said Chairman Jeroen van der Veer.
In an April report prepared for its Group Audit Committee (GAC), Royal Dutch/Shell Group outlined how its former top executives knew and argued about a reserves reporting problem for 1 1/2 years before informing the public (OGJ Online, Apr. 20).
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.
