March 17 (Bloomberg) — Royal Dutch Shell Plc, Europe’s biggest producer, relied on the enlargement of its share of a Canadian oil sands project to offset the loss of half its oil and gas reserves in Russia’s Sakhalin-2 venture.
Shell’s total proved oil and gas reserves plus minable oil sands reserves declined 0.2 percent in 2007 to the equivalent of 11.92 billion barrels of oil, from 11.94 billion barrels in 2006, the company said in a strategy statement and annual report today.
Shell ceded half of its 55 percent stake in Russia’s Sakhalin- 2 venture in April, losing the equivalent of 402 million barrels of oil in proven reserves, the report showed.
This was mainly offset by the acquisition of the 22 percent interest in Shell Canada that was previously held by minority stakeholders. That added the equivalent of 322 million barrels of reserves, mostly oil sands, to Shell’s total.
Total proven reserves are calculated as the oil, gas and minable oil sands reserves run by Shell companies, except the portion owned by minority stakeholders, plus Shell’s equity interests in other companies’ projects.
In April last year, Shell completed the C$8.7 billion ($7.7 billion) takeover of the 22 percent of Shell Canada it didn’t already own. In doing so, the minority interests of 72 million barrels of proven oil and gas reserves plus 250 million barrels of oil sand reserves was added to the total attributable to Shell.
Shell and its Japanese partners last year sold Russia’s state- controlled OAO Gazprom a controlling stake in the Sakhalin-2 oil and gas venture after Russia threatened to halt development because of environmental violations.
The Sakhalin-2 project is now carried as an equity-owned investment on Shell’s books, rather than a Shell-run project. Gazprom now owns 50 percent stake of Sakhalin-2 and Shell 27.5 percent.
Last Updated: March 17, 2008 08:49 EDT
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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.
