Oleg Mitvol called upon the economic security department of the Federal Security Service to review certain foreign companies that have allegedly exaggerated their reserves and sold shares on foreign exchanges between 2003 and 2007. (royaldutchshellplc.com)
Front page / Russia: 04/19/2007 17:00 Source: AP ©
Some of the foreign oil, mining and gas companies have exaggerated their reserves to boost their share price, the deputy head of Russia’s environmental watchdog agency said Thursday.
Oleg Mitvol called upon the economic security department of the Federal Security Service – the KGB’s main successor _ to review certain foreign companies that have allegedly exaggerated their reserves and sold shares on foreign exchanges between 2003 and 2007.
The announcement comes one day after Mitvol made similar remarks about a London-listed oil company that wiped US$200 million (EUR147 million) off its value.
“We are dealing with artificially puffed up shell-firms … that bring in profits on western stock exchanges using financial instruments without investing sufficient funds in the real sector of the Russian economy,” Mitvol said in a statement posted on the Web site of the Natural Resources Ministry.
Ministry spokesman Rinat Gizatulin said there were “over ten” companies with an average market capitalization of between EUR1 billion and EUR2 billion (US$1.4 billion and US$2.7 billion) that had been targeted, but declined to disclose names. “In Russia hardly anyone has heard of these miracle-companies,” he said.
On Wednesday, Mitvol said that foreign auditors for London-listed Imperial Energy PLC had put its reserves at its Mayskoye field in Siberia at 10 times the ministry’s own estimate. The company’s share price fell 25 percent on the remarks Wednesday.
Imperial Energy’s chairman, Peter Levine, said in a statement that his company’s actions in Russia had been “exemplary.”
“We are confident that these issues are a result of misunderstandings and that they will be resolved in the near future,” he said.
Mitvol said in a separate statement Thursday that he had appealed to Rosnedra, an agency that has the authority to revoke licenses, to pull production permits belonging to three of Imperial Energy’s subsidiaries, citing violations.
Mitvol was the face of an environmental campaign against Royal Dutch Shell PLC’s giant liquefied natural gas development off the Pacific coast last year. Analysts said that Mitvol’s involvement was part of a process that eventually saw national gas monopoly OAO Gazprom take a controlling stake in the Sakhalin-2 project.
http://english.pravda.ru/news/russia/19-04-2007/90106-watchdog_oil-0
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.
