London Evening Standard: Shell scandal ‘could be repeated’
“Findings by regulators have widened the scandal by accusing Shell of giving false reserve figures from 1998 to 2003, raising questions about the role of executives, including Sir Mark Moody-Stuart”
Steve Hawkes,
25 August 2004
REPEAT of the reserves crisis at Shell may be unavoidable despite moves by the US regulators to force oil and gas majors to hire third parties to check the size of their discoveries.
Ryder Scott, the US firm brought in to requantify Shell’s reserves earlier this year, claims there are simply too few of its type around to cover the number of companies operating in the energy industry.
Ryder Scott chief executive Ron Harrell said: ‘Clearly there are not enough of us qualified to serve the needs of companies reporting to the Securities and Exchange Commission in conducting annual, meaningful reserve certifications.’
Calls for an international reporting standard for reserve bookings have increased since the Shell scandal, where it was forced to slash its proven reserves by 25% – or 4.7bn barrels.
The SEC provides guidance for reporting reserves but companies have to prove only that there is a ‘reasonable certainty’ a field will pump out a specified amount of oil or gas.
The SEC slammed Shell yesterday when confirming it was fining the Anglo-Dutch group £65m for market abuse.
The SEC penalty was four times the size of the Financial Services Authority’s own £17m penalty.
Findings by regulators have widened the scandal by accusing Shell of giving false reserve figures from 1998 to 2003, raising questions about the role of executives, including Sir Mark Moody-Stuart and Sir Philip Watts.
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: 
MORE DETAILS:
A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
