Lloyds List: Shell and Unocal quit Xihu Trough gas project
ROYAL Dutch/Shell and US oil independent Unocal have pulled out of the Xihu Trough offshore natural gas project in the East China Sea because of failure to renegotiate commercial issues, writes Martyn Wingrove.”
Oct 05, 2004
ROYAL Dutch/Shell and US oil independent Unocal have pulled out of the Xihu Trough offshore natural gas project in the East China Sea because of failure to renegotiate commercial issues, writes Martyn Wingrove.
The two companies each held a 20% stake in the exploration and gas development project, but have terminated their involvement, leaving it in the hands of China National Offshore Oil Corp.
The two companies agreed to assume all the financial risks during the 12-month exploration phase, but were unable to move the project forward into a commercial project.
‘Over the past year we have conducted a detailed resource assessment and studied various development options,’ said Don Hansen, vice president of Unocal International Energy Operations.
‘For commercial reasons we have elected not to proceed with the project.’
Both companies entered into the project in August 2003 and had 12 months to find and appraise gas resources in the area. Then the partners had to make a financial decision to move ahead with an offshore development. But it seems the potential earnings for the project was too small for both companies.
CNOOC and Chinese refiner Sinopec said they would continue with the project.
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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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