By Ron Bousso: Commodities | Mon Jan 18, 2016 12:07pm GMT
Royal Dutch Shell said on Monday it had decided to exit the multi-billion dollar plan to jointly develop the Bab sour gas field in Abu Dhabi, citing the downturn in the oil market.
The Anglo-Dutch company said that “following a careful and thorough evaluation of technical challenges and costs” it will stop further joint work on the project with the Abu Dhabi National Oil Co. (ADNOC).
Shell won in 2013 a tender that was valued at the time at $10 billion to develop over a 30-year venture the complex sour gas field that involves treating potentially deadly gasses.
The joint venture was also seen at the time as a stepping stone for Shell to renew a coveted concession to develop the United Arab Emirates’ largest onshore oil field.
The Bab sour joint venture envisaged the construction of a 1 billion cubic feet sour gas processing plant for domestic market consumption.
“The evaluation concluded that for Shell, the development of the project does not fit with the company’s strategy, particularly in the economic climate prevailing in the energy industry,” Shell said in a statement on Monday.
ADNOC was expected to hold 60 percent of the Bab sour gas project, while Shell would have held 40 percent.
Shell shares were up 1.2 percent at 1136 GMT, compared with a 1.6 gain for the broader sector index.
(Additional reporting by Rania El Gamel)
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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.
