The Guardian: BP upbeat on Russian prospects
“The early promise of the venture has also put pressure on BP rival Shell, which was hit this year after it overstated its reserves.”
Reuters
Tuesday September 14, 2004
BP’s Russian oil venture, TNK-BP, is maintaining crude production growth targets for 2004 to 2007, the company said yesterday. It added that it was also keeping to its growth forecast of 12% for 2004 and about 7% per year until 2007.
BP shares rose 0.5 % initially then fell 0.3% to 507.75p. Dealers said this was due to concerns over the impact of Hurricane Ivan, though the group emphasised the hurricane was not expected to affect its operations.
BP announced a $6bn-plus investment last year to form the 50-50 joint venture, TNK-BP, which is Russia’s third largest oil producer behind Lukoil and Yukos. The link-up has boosted BP’s access to the burgeoning Russian energy sector, a priority for oil majors looking for new fields as older ones dry up.
The early promise of the venture has also put pressure on BP rival Shell, which was hit this year after it overstated its reserves.
“TNK-BP seems to be hav ing a great deal of success in converting its plans into realisable gains in terms of production,” said Teather & Greenwood analyst Zac Phillips, who rates BP a buy.
The company is also trying to simplify its corporate structure. It said it was considering consolidating its three existing Russian companies – TNK, Onako and Sidanco – into a single Russian holding company.
“Operationally, TNK-BP looks very sound,” said ING analyst Angus McPhail, who kept a buy rating on BP stock.
BP shares have gained about 15% in value since the start of 2004.
http://www.guardian.co.uk/business/story/0,,1303774,00.html
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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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