By REUTERS
Published: April 11, 2007
Filed at 4:09 a.m. ET
LONDON (Reuters) – Oil giant Royal Dutch Shell (RDSa.L) has agreed to pay $352.6 million to settle claims from European and other non-U.S. investors related to a reserves overbooking scandal, the Anglo-Dutch firm said on Wednesday.
Shell shocked investors in 2004 by slashing its proven oil and gas reserves by 20 percent in a scandal that cost three top executives their jobs, sparked a probe by U.S. regulators and sent its shares plunging.
The second-largest Western oil company by market value said in a statement that “without admitting any wrongdoing” it had agreed to pay $352.6 million, plus administrative costs, to non-U.S. institutional investors including ABP and PGGM, as well as organizations representing individual shareholders, such as Vereniging van Effectenbezitters in the Netherlands.
The agreement depends on the Amsterdam Court of Appeals declaring the settlement binding for all of the shareholders it covers, Shell said.
The company also said it intended to offer the same deal to U.S. investors in proportion to their shareholding in the company. A spokesman was not immediately able to say what proportion of the company’s shareholders were U.S.-based.
At 0745 GMT, Shell shares were up 0.4 percent at 16.93 pounds, valuing the business at about 108 billion pounds.
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.
