Business Times (Malaysia): Shell earnings fall on shutdown
Friday August 19, 2005
A ONE-MONTH statutory plant shutdown caused a 53 per cent drop in Shell Refining Co (Federation of Malaya) Bhd’s net earnings for the second quarter ended June 30.
The firm, which is 52 per cent-controlled by Dutch oil giant Shell, recorded a net profit of RM82.4 million compared with RM175 million in the same quarter last year.
In a statement, Shell Refining said the shutdown, which occurred in June, was at the Long residue catalytic cracker unit and the complex 2 unit, comprising a crude distiller and a platformer.
Shell Refining said while its refining margins remained healthy, only 7.7 million barrels of crude oil and feedstock were processed for the quarter, compared with 10 million barrels before. However, the overall increase in crude oil and product prices gave it an after-tax stockholding gain of RM39 million.
Its revenue stood at RM2.18 billion compared with RM1.78 billion in the same quarter last year.
Chairman Datuk Jon Chadwick said the refinery is back to the normal production and the company had undertaken improvement initiatives which will benefit the plant’s operability in the longer term.
“It is expected that the refining margin will continue to hold in the current quarter. However, any weakening in oil prices may negatively impact the company’s financial results, given the stock accounting practices adopted by the company,” he said.
He added that Shell Refining will continue to pursue operational excellence, proactive margin improvement and cost-effectiveness while maintaining a strong health, safety and environment performance.
Shell Refining has also declared a record interim dividend of 12 sen a share.
Its first-half net profit was RM277.8 million on the back of RM4.44 billion revenue.
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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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