Extract: Shell also announced it is ‘determined and prepared’ to resolve the US litigation ‘for, among other terms, a payment by Shell of 500 mln usd.’ ‘Accordingly, management of the Shell Group has established a 500 mln usd provision in respect of the litigation. No settlement has been reached in the matter,’ it said in a statement.
THE ARTICLE
07.27.2006, 03:49 AM
LONDON (AFX) – Royal Dutch Shell PLC delivered a 26 pct rise in second quarter profits and announced that it is prepared to pay 500 mln usd to settle a US class action lawsuit arising from the group’s controversial oil reserves downgrade a few years ago.
For the quarter to June, the group’s net profit, on an adjusted current cost of supply basis and after adding back one-time charges, rose to 6.546 bln usd from 5.194 bln last time, ahead of the consensus figure of 6.125 bln usd.
Charges for the quarter totaled 232 mln usd against 547 mln a year ago.
Stripping out the charges, CCS profit rose 36 pct to 6.314 bln usd from 4.647 bln last time.
Shell also announced it is ‘determined and prepared’ to resolve the US litigation ‘for, among other terms, a payment by Shell of 500 mln usd.’
‘Accordingly, management of the Shell Group has established a 500 mln usd provision in respect of the litigation. No settlement has been reached in the matter,’ it said in a statement.
mbe/ra
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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.
