Web posted at: 11/3/2007 7:44:18
Source ::: Reuters
ABUJA • Royal Dutch Shell is preparing for tough talks with Nigeria in a review of multi-billion dollar offshore oil contracts, a top executive told said yesterday.
The government of President Umaru Yar’Adua has put its largest investors on notice that it wants a greater share of the profit from fields in deep water, which will account for a third of supply from Africa’s top producer by the end of next year.
Chima Ibeneche, managing director of Shell’s offshore division in Nigeria, said in an interview that he was not surprised by the announcement because there was an option for a review in 2008 written into some of the contracts.
Oil prices far above what anyone imagined when deals were signed in the early 1990s are a further reason to look again, he added.
“I am willing to talk to them, but I can guarantee you we will have points of disagreement,” Ibeneche said.
“I will always be resistant if government is taking away things from me, because it is my business to get a protection for the risk that has been taken and for the investor to get some rewards.”
Oil producers Russia, Venezuela, Algeria and Britain have all modified terms with investors in the light of soaring prices, which hit a new record of $96.24 a barrel on Thursday.
“The government is trying to see how it can improve the return it has from its assets at a time when the oil price is quite impressive,” Ibeneche said.
Nigerian exploration licences awarded in 1993 or soon after have turned out a string of giant discoveries in deep water, including Shell’s Bonga, ExxonMobil’s Erha, Chevron’s Agbami and Total’s Akpo.
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.
