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Shell CEO: Company ‘Learned’ From Russian Experience -Report

By London Bureau Published July 08, 2011 Dow Jones Newswires

LONDON -(Dow Jones)- Anglo-Dutch oil giant Royal Dutch Shell PLC will take lessons it learned from past negative experiences in Russia to aid it in future, Chief Executive Peter Voser said in an interview with Swiss newspaper Finanz und Wirtschaft to be published Saturday.

When Shell was asked about its negative experiences in Russia, Voser said, “You learn from the past and do it differently in the future.”

In May, Voser met with Russian Deputy Prime Minister Igor Sechin to discuss broader cooperation between state company OAO Rosneft (ROSN.RS) and Shell. Recent speculation has posited that Shell may seek to jointly develop blocks with Rosneft in the Russian Arctic Sea after talks between the Russian company and BP PLC (BP, BP.LN) broke down.

However, Voser in the past has ruled out doing a share-swap deal similar to one concluded by BP in order to get access to the offshore blocks.

Copyright � 2011 Dow Jones Newswires


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