Shell ‘to delay reserves data release’
By Upstream staff
Anglo-Dutch supermajor Shell will reportedly delayed the release of oil reserves figures that normally accompany its annual profits figures, due out on Thursday.
The UK’s Telegraph newspaper reported that some analysts had been told that reserves figures were not even “up for discussion”, leading to speculation that the company reserves figures were poor.
However, Colin Smith, an analyst with Kleinwort Benson, told the newspaper the delay was “necessarily coy”, saying Shell’s reserves figures had been weakened and made more difficult to calculate after the company last year handed over a controlling stake in its giant Sakhalin 2 project off eastern Russia to Russian gas export monopoly Gazprom.
He said the disruption of Shell’s operations by violence in Nigeria might also have complicated its reserves calculations.
Shell’s reserve reports are watched particularly closely since chairman Phillip Watts was forced to resign in 2004 after revelations that the company had overstated its oil reserves.
“Since [the reserves scandal] Shell has been hot on releasing information to the market at its annual results,” the newspaper quoted another analyst as saying. “Putting it back doesn’t mean there’s a problem. But it doesn’t inspire confidence.”
Shell has reportedly said it will release reserves data in a filing the with US Securities & Exchange Commission due in May.
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29 January 2008 05:02 GMT | last updated: 29 January 2008 08:08 GMT
http://www.upstreamonline.com/live/article147810.ece
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.
