By Alfred and John Donovan of RoyalDutchShellPlc.com
Royaldutchshellplc.com, the website described by Reuters as being the “unofficial” company website of the oil giant Shell, continues to publish secret Shell related documents on a daily basis.
Today, the site has published the minutes of a meeting of Shell Group Managing Directors held in December 2003, just weeks before news broke of the Shell reserves fraud which is still the subject of ongoing multibillion dollar litigation.
The Shell Group Managing Directors present at the CMD Meeting held on 9 December 2003 included Philip Watts, Jeroen van der Veer, Walter van de Vijver, Malcolm Brinded, Judy Boynton and Rob Routs.
Every page of the minutes was marked â€œMOST CONFIDENTIALâ€ because the discussions covered Shellâ€™s commercially sensitive plans and one potentially explosive subject, Shell hydrocarbon reserves. We will comment on just a few issues.
The Russian energy giant Gazprom will be interested in Item 9, GAZPROM ALLIANCE â€“ STATUS AND WAY FORWARD
With hindsight, Shell should have accepted the proposal being offered by Gazprom at the time. Instead the minutes record that â€œan impasse had been reached over the Gazprom aspired shareholding in Sakhalin II. The Gazprom position was that they aspired to 20% whereas Shellâ€™s aspiration was for 5-10%.â€ The also â€œCommitteeâ€ still had reservations over Gazprom. However, with theÂ help of the owners of the royaldutchshellplc.com website (the authors of this article), Gazprom ended up with the majority stake holding and Shell became the humiliated junior partner.Â
We supplied the Russian goverment with leaked Shell internal documentsÂ that provided evidence of incompetence and cover-up in the Sakhalin-2 project. The evidence leaked to us by Shell insiders changed the course of history. The event is mentioned in an article published yesterday by the leading Japanese business magazine, Nikkei BP, aboutÂ gripe websites.Â
Item 10: PROJECT ROCKFORD
Phil Watts already knew that the game was up and the reserves fraud was sure to become public knowledge very shortly. Knowing that the minutes of the CMD meeting were bound to come under scrutiny, they record that: â€œThe Chairman stressed the importance of full disclosure and transparency of the facts and thorough legal analysis. Urgent attention was required as time was of the essence.â€ This was after being involved in a long term cover-up of the truth, as confirmed by incriminating email.
Item 13: Malcolm Brinded (â€˜him with all the aspirational targetsâ€™) said the Qatar project should be accepted although the VIR was too low, because of strategic reasonsâ€¦.Â We understand that many years ago, Hub van Engelshoven (former head of EP and one of the Shell greats) during his farewell tour gave many speeches. In one of the speeches he told the story that some people had asked him â€˜Hub, what is your strategy?â€™ Upon which he remarked â€˜I have no strategy, strategy is an excuse to waste moneyâ€™â€¦.Â But Hub was from a different era. They were led by van Wachem and unlike Brinded, who puts profits first, even before employee safety,Â van WachemÂ abided by the Group Business Principles.
Another important confidential document will be published on royaldutchshellplc.com tomorrow.