Financial Times: Total tiptoes to Russia
“Quite simply, Total was envisaging a bid for its larger but troubled oil rival Shell. Last week, Mr Desmarest poured cold water on the idea, stating he was not interested in big acquisitions.”: “To qualify for membership of the club of super oil majors, an American dimension is even more necessary than a Russian one. There is an easy way to achieve this: merging with a debilitated Shell before it recovers or is taken over by another rival.”
By Paul Betts
Published: September 24 2004
Total boss Thierry Desmarest is gaining a reputation as the oil industry’s safest pair of hands. Yesterday it was the turn of ratings agency Standard & Poor’s to wax lyrical about the world’s fifth-largest oil group.
Affirming its AA long-term rating on the company’s offer to buy a 25 per cent stake in Russia’s Novatek, S&P praised the French group for its “massive and diversified hydrocarbon assets, a competitive cost structure, a conservative financial profile and policy, and significant financial flexibility”.
Nonetheless, it also noted some weaknesses: the company’s exposure to difficult downstream markets and petrochemicals and its lack of significant upstream operations in North America.
A few months ago speculation was rife that Mr Desmarest was addressing his American problem. Quite simply, Total was envisaging a bid for its larger but troubled oil rival Shell. Last week, Mr Desmarest poured cold water on the idea, stating he was not interested in big acquisitions.
Instead, he is cautiously dipping his toes into Russia to lock into the country’s huge potential. The $1bn he proposes to spend is a spit in the ocean for Total. The move commands easy headlines but fails to resolve the American dilemma.
To qualify for membership of the club of super oil majors, an American dimension is even more necessary than a Russian one. There is an easy way to achieve this: merging with a debilitated Shell before it recovers or is taken over by another rival.
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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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