The Guardian: Shell announces £5.8bn profits
Thursday 28 July 2005
Mark Tran
Thursday July 28, 2005
Royal Dutch Shell today reported half-year profits of £5.8bn in its first results as a unified company.
The oil giant’s profits – equivalent to £1.3m an hour – were in line with the figures released by its rival BP earlier this week, which established a new record for a UK company.
Shell said it had benefited from high oil prices, which have continued to rise this year because of strong demand, particularly from China.
The company also pledged to increase the amount of money spent on exploring for new oilfields to $1.8bn (£1.03bn) from $1.5bn both this year and next.
Last year, Shell was hit by a reserves scandal which saw it forced to downgrade its oil reserves by around one fifth. The extra injection of cash for exploration is designed to allay investor concern that the oil giant is struggling to replace its reserves.
Two weeks ago, Shell announced that its exploration and production unit had suffered a new setback when it revealed that its flagship Sakhalin II gas project was likely to cost $20bn – twice its original budget.
However, on the positive side it announced 12 drilling successes in the second quarter, including fields in Australia and Nigeria. More than 3.52m barrels of oil equivalent were produced each day, which Shell described as “slightly above our expectations”.
“We can confirm exploration success, and are further increasing our exploration spending and activity levels,” Jeroen van der Veer, the Shell chief executive, told investors.
Shell became a unified company this month. It was previously co-owned by Dutch and British holding firms, which appointed executives to a joint management board.
The decision to unify it followed the reserves fiasco, which was blamed on the dual structure of the company.
Shell was down 11p, standing at 1,723p in early trading.
http://www.guardian.co.uk/oil/story/0,,1537744,00.html
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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.
