Daily Mail: Watts is on to a winner despite Russian setback
“SHELL’S remarkable share price rise since last year’s reserves scandal has given ousted chairman Sir Philip Watts a £3m gain in the value of his share options.”: “The oil giant is making so much from sky-high energy prices that its shares shrugged off the shock news that costs of its Sakhalin-2 gas project in Russia have doubled in two years to $20bn(£11.4bn). This hits the terms of Shell’s agreement with Russian gas giant Gazprom last week to swap 25pc of Sakhalin for half of a Gazprom field in Siberia.”
Sunday 17 July 2005
By Brian O’Connor
SHELL’S remarkable share price rise since last year’s reserves scandal has given ousted chairman Sir Philip Watts a £3m gain in the value of his share options.
The oil giant is making so much from sky-high energy prices that its shares shrugged off the shock news that costs of its Sakhalin-2 gas project in Russia have doubled in two years to $20bn(£11.4bn).
This hits the terms of Shell’s agreement with Russian gas giant Gazprom last week to swap 25pc of Sakhalin for half of a Gazprom field in Siberia.