Daily Telegraph: Shell accounts change brings $226m upgrade
“Shell has been plunged into crisis after admitting that it had overstated its “proven” oil and gas reserves by 23pc”
By Christopher Hope (Filed: 14/07/2004)
Shell said yesterday that its first quarter profits should be increased by $226m because of an accounting change brought about by the crisis over the oil and gas giant’s “lost” reserves.
Shell has been plunged into crisis after admitting that it had overstated its “proven” oil and gas reserves by 23pc or 4.47 billion barrels.
The first quarter net income rise to $4.7 billion came after Shell decided to file accounts based on US accounting rules, or GAAP.
This meant all its barrel sales will be reported on the same “first in first out” basis. The change had been signalled to analysts – but not quantified – after the first quarter results in May.
Separately, Shell announced that its non-executive directors who are looking at changes to Shell’s complicated Anglo-Dutch structure had hired Citigroup and NM Rothschild “to deepen its analysis of key options”.
These advisers would help the committee deal with the legal and technical problems which might spring from changes to Shell’s structure.
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.
