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Putin slams Shell’s Sakhalin costs – paper

From our Shell News Archive 2 November 2005

Reuters: Putin slams Shell’s Sakhalin costs – paper

“President Vladimir Putin told executives of major oil company Royal Dutch Shell Russia would not approve Shell’s request to let it double costs at its huge Sakhalin project to $20 billion”: “…Putin had spent more than 30 minutes criticising the cost overruns at the Shell-led Sakhalin-2. Putin’s criticisms come as a big blow for Shell…”

“…the oil company’s chief executive was harangued by President Putin…”

Wednesday Nov 2, 2005 7:20 AM GMT

MOSCOW (Reuters) – President Vladimir Putin told executives of major oil company Royal Dutch Shell (RDSa.L: Quote, Profile, Research) Russia would not approve Shell’s request to let it double costs at its huge Sakhalin project to $20 billion (11 billion pounds), a newspaper reported on Wednesday.

Kommersant business daily quoted sources, who attended a meeting between Dutch businessmen and Putin during his visit to Amsterdam, as saying Putin had spent more than 30 minutes criticising the cost overruns at the Shell-led Sakhalin-2. read more

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