Financial Times: S&P calls for more oil data: “Nigeria was a large part of the shortfall when Royal/Dutch Shell was forced to cut its reserves by 23 per cent this year.”
By James Boxell in London
1 October 2004
The world’s biggest energy companies must do more to improve the transparency of their oil and gas reserves reporting, according to Standard & Poor’s.
In a new report calling for much greater disclosure from the oil majors, the credit agency is scathing about their refusal to provide a country-by-country breakdown of reserves.
Eric Tanguy, S&P’s credit analyst, said the absence of detail on the amount of reserves in individual countries made it difficult to establish levels of risk in developing areas such as Africa. Oil majors are notoriously guarded about providing details on individual fields or countries, citing fears over confidentiality and competitive advantage.
Africa represented 32 per cent of Total’s proven reserves at the end of 2003 and 13 per cent of Exxon-Mobil’s, but the companies provided no further split.
BP failed to separate out its African total, including the continent in a broad “rest of world” category.
Mr Tanguy said: “This is particularly frustrating when such a breakdown is generally available for production and when just a few countries probably account for the bulk of the groups’ African reserves.”
Nigeria was a large part of the shortfall when Royal/Dutch Shell was forced to cut its reserves by 23 per cent this year.
Mr Tanguy said: “It would be interesting to confront proved reserves bookings by all oil majors for this country.”
The report also calls on the oil companies to explain how they audit reserves and to use external petroleum engineers to provide consistent standards across the industry.
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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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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
