odt.co.nz : Royal Dutch Shell profit overstated $276m
“it had also made errors in the way it accounted for exploration costs, certain gas contracts and the earnings per share of its parent companies.”
Washington: The Royal Dutch Shell Group said Friday the overstatement of its proven oil and gas reserves resulted in profits being exaggerated by $US276 million ($NZ436.1 million), and that “inappropriate” accounting in other areas resulted in profits being embellished by an additional $US156 million.
The revision followed an embarrassing series of disclosures that in total reduced the company’s reported reserves by nearly one-quarter and led to the departure of several top executives.
The biggest downward revision was for 2002, when the faulty accounting resulted in profits being overstated by $US208 million.
In 2001 the reduction was $US56 million, in 2000 it was $US122 million and before 2000 it was $US46 million.
The company disclosed the overstated profits in a filing with the Securities and Exchange Commission late Friday, explaining that in addition to the problematic reserves accounting it had also made errors in the way it accounted for exploration costs, certain gas contracts and the earnings per share of its parent companies. – AP
Monday, 5-July 2004
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.
