THE WALL STREET JOURNAL: Shell To Work With Ukraine Naftogaz On Gas Exploration
11 May 2005
DOW JONES NEWSWIRES
LONDON — Royal Dutch/Shell (RD, SC) Tuesday struck a cooperation agreement to explore potential gas resources with Ukrainian national gas company Naftogaz Ukrainy (NGAZ.YY) in the Dniepr-Donets basin.
A person close to Shell said the deal, the first of its kind in Ukraine for an international oil major, could help the Anglo-Dutch company gets a foothold into the country’s hydrocarbons reserves.
The companies have agreed to cooperate in technical studies covering an agreed area of joint interest of over 30,000 square kilometers, with the potential for further enlargement, Shell said in a statement.
The company added the studies will lead to joint exploration for and production of hydrocarbons.
“We believe the combination of the detailed technical and operational knowledge of Naftogaz Ukrainy and access to state-of-the-art technology from Shell will result in mutual benefits and we look forward to a fruitful partnership”, said Naftogaz Ukrainy’s Chairman, Olexiy Ivchenko.
Shell already has downstream activities in Ukraine, but getting access to upstream opportunities is essential as the company needs to rebuild its reserves after downgrading them five times since last January.
According to the U.S. Department of Energy, Ukraine has roughly 40 trillion cubic feet of natural gas reserves, from which roughly 0.69 tcf was produced in 2003.
The pact comes as neighboring Russia has expressed reluctance to make new energy resources available to foreign companies.
The Ukrainian deal is the latest exploration deal with newly opening countries. Last week, it was awarded five gas blocks in Libya, along with the upgrade of a liquefied natural gas plant.
Company Web site: http://www.shell.com
-By Benoit Faucon, Dow Jones Newswires; +44 (0)20 7842 9266; [email protected]
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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.
