Marianne Barriaux
Saturday November 24 2007
Shell has pulled out of a £200m deal to buy into Ukrainian gas fields only two days after it was signed after a boardroom row at its controversial would-be partner, Regal Petroleum.
The Anglo-Dutch company agreed on Wednesday to buy a 51% stake in Regal’s Ukrainian gas fields for $50m (£24m), saying it would invest the first $360m of development costs. But on Thursday Regal abruptly announced that its chief executive, Neil Ritson, and chairman, Francesco Scolaro, had been replaced by David Greer, a former Shell executive.
Ritson was the key engineer of the agreement between Shell and Regal, and has been largely credited for improving Regal’s reputation after a series of misfortunes struck the firm, including a dry well in Greece and a legal dispute over its right to the licence for the Ukrainian gas fields.
Shell said yesterday: “The management change at Regal was not expected by Shell and we see from the new management’s comments that they may have changed their thinking on the transaction.”
It added Regal had indicated it would like to review its options, and Shell had therefore decided not to proceed with the deal. Regal Petroleum was not available for comment.
It is understood that Frank Timis, the colourful founder of Regal who now owns 20% of the firm, had wanted the company to raise money for development independently.
It is thought that Timis, along with other shareholders, forced Ritson out. Greer then suggested other options to raise the funds, including a share issue. This is thought to be what prompted Shell to pull out.
http://www.guardian.co.uk/business/2007/nov/24/shell
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: 
MORE DETAILS:
A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
I am confused… so is Shell still going to work/develop, etc. the 8 fields in Ukraine???