Daily Mail: Watts is on to a winner despite Russian setback
“SHELL’S remarkable share price rise since last year’s reserves scandal has given ousted chairman Sir Philip Watts a £3m gain in the value of his share options.”: “The oil giant is making so much from sky-high energy prices that its shares shrugged off the shock news that costs of its Sakhalin-2 gas project in Russia have doubled in two years to $20bn(£11.4bn). This hits the terms of Shell’s agreement with Russian gas giant Gazprom last week to swap 25pc of Sakhalin for half of a Gazprom field in Siberia.”
Sunday 17 July 2005
By Brian O’Connor
SHELL’S remarkable share price rise since last year’s reserves scandal has given ousted chairman Sir Philip Watts a £3m gain in the value of his share options.
The oil giant is making so much from sky-high energy prices that its shares shrugged off the shock news that costs of its Sakhalin-2 gas project in Russia have doubled in two years to $20bn(£11.4bn).
This hits the terms of Shell’s agreement with Russian gas giant Gazprom last week to swap 25pc of Sakhalin for half of a Gazprom field in Siberia.
Chief executive Jeroen van der Veer had to phone the Russians yesterday to explain the change in what they were getting.
Shell blamed the huge overrun on ‘things taking longer than anticipated’. Taking an onshore pipeline across a river was fraught with problems. Rising steel costs hit virtually every piece of equipment bought. Icy cold and the breeding grounds of the rare gray whale were other problems.
Shell’s ability to manage such ‘elephant’ projects is crucial since it has several. But van der Veer cited the $4.3bn Nanhai chemicals plant in China, built on time and on budget.
Exploration director Malcolm Brinded called the Sakhalin overrun ‘clearly disappointing’. But though it pushes costs to $5-$6 per barrel of oil, this is far below current prices. The shares ended 4V4p up at 549p.
This is a rise of more than 50pc from the 360p seen after Watts quit last year. He surrendered a chunk of his share awards, but kept options on 2.8m shares at prices ranging from 363p to 552p. His declared shareholding brings his total interest to £3.5m. Directors and staff have gained £340m since last year on the 180m shares held in their share plans.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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.
