Nicholas Neveling, Accountancy Age, 29 Jan 2007
Sakhalin to hit Shell reserves accounting
Shell may be forced to cut oil reserves by a billion barrels after halving stake in Sakhlin joint venture with Russian government.
Oil giant Shell is facing a a new accounting crisis as analysts predict that the oil group will have to cut oil reserves on its books by a billion barrels after the halving of its stake in the Sakhalin-2 joint venture.
Shell was forced to cede its majority stake in the Russian project to state-owned group Gazprom, the Observer reports. The Kremlin pressed Shell into the move and accused the group of environmental and cost mismanagement.
The move will see Shell’s stake in the project reduced from 55% to 27.5%, a 72.7% drop that analysts believe will knock Shell’s booked reserves by approximately 1 billion barrels.
The issue of restating booked reserves is a sensitive one for Shell. Two years ago the company was forced to reduce its booked reserves substantially after the SEC judged that what Shell had booked in its accounts did not meet the watchdog’s regulations.
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.
