Daily Telegraph: Shell ‘knew of reserves problems last October’
“The news is at odds with comments by Lord Oxburgh of Liverpool”
By Christopher Hope (Filed: 03/07/2004)
Fresh evidence emerged yesterday that directors at Shell knew as far back as October that there were problems with the company’s oil and gas reserves.
The Anglo-Dutch oil and gas giant is battling to restore its credibility after revealing earlier this year that it had exaggerated its “proven” oil and gas reserves by 23pc or 4.47 billion barrels.
A report in the Wall Street Journal claimed that Shell’s six-strong audit committee – comprising non-executives from Shell’s Dutch and British parent company – was briefed about some of the problems in October. The newspaper said it had seen a document which said that 1.04 billion barrels of oil and gas were potentially not compliant with rules set by the United States’ Securities and Exchange Commission.
Two months later, Shell announced that it had overstated its levels of “proven” oil and gas by 20pc, or 3.9 billion barrels. This figure was later revised three times.
The news is at odds with comments by Lord Oxburgh of Liverpool, Shell’s UK chairman, at Shell’s annual meeting on Monday. He said Shell’s non-executive directors only found out about the problems in early January.
Lord Oxburgh’s comments also jarred with remarks from its Dutch chairman Aad Jacobs at Shell’s Dutch annual meeting. Mr Jacobs admitted that he was told there was an unspecific problem with reserves in November last year.
A Shell spokesman said that the company does not comment on “leaked” documents. Shell’s shares were down .25 at 400.75p.
Meanwhile, BP held out hope of bumper half-year figures this month when it said second-quarter production was set to rise 17pc against a year ago, largely as a result of a Russian joint venture with TNK. BP said production was likely to be 3.95 billion barrels per day. BP’s shares closed down 4 at 481p.
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.
