Financial Times: Shell’s rush for Russia dampens stock debut
“Investors yesterday were queueing to buy shares in Russian gas company Novatek and to dump the new unified Royal Dutch Shell on their London market debuts.”: “The reason behind this odd reversal of roles is that Shell must still convince the markets it can resolve its reserve problems, along with the $10bn additional hit it is taking on its flagship Russian gas project.”: “If these difficulties persist, they are likely to revive talk of a Total-Shell mega-merger as the best way forward.”
Thursday 21 July 2005
By Paul Betts
Published: July 21 2005
Investors yesterday were queueing to buy shares in Russian gas company Novatek and to dump the new unified Royal Dutch Shell on their London market debuts.
This may seem puzzling, given Moscow’s efforts to regain control of its energy industry and what should have been a red-letter day for the Anglo-Dutch major.
The reason behind this odd reversal of roles is that Shell must still convince the markets it can resolve its reserve problems, along with the $10bn additional hit it is taking on its flagship Russian gas project.
As for Novatek, whose $1bn share offer has been 10 times oversubscribed, it is regarded as one of the fastest-growing and most profitable Russian energy companies.
Yet some investors are far from enthusiastic over the Russian IPO, especially Total. The Novatek share offer is likely to reduce even further the French major’s chances of acquiring a 25 per cent stake in the Russian company.
Total is still waiting for clearance from the Moscow authorities to complete the deal, announced last year. It has warned it would probably walk away in the event an IPO left insufficient shares to close its transaction.
Without Novatek, Total risks missing its 4 per cent average annual production growth targets. Its difficulties point to the obstacles all the majors are encountering in their attempts to buy smaller companies in a high oil price environment. If these difficulties persist, they are likely to revive talk of a Total-Shell mega-merger as the best way forward.
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.
