By Upstream staff
Surging oil prices have pushed Shell’s current cost of supply net profit for the second quarter of the year to $6.3 billion, a 36% rise year-on-year.
Current cost of net supply profits strips out changes in inventory value.
Excluding a non-operational charge of $232 million, the result was $6.546 billion, up from an underlying net profit of $5.171 billion booked in the same period in 2005.
The company’s production slipped year-on.year, averaging 3.25 million barrels of oil equivalent per day in the second quarter, compared with 3.52 million boepd in the same period last year.
Shell cut its 2006 output target, saying its production would be around 3.4 million boepd rather than the forecast 3.5 million boepd to 3.6 million boepd if shut ins in Nigeria continue.
However, Shell added the caveat that the new target assumed oil prices at $50 – well below current levels.
If prices are above $50, Shell will receive even less oil under its production contracts, meaning output could be under 3.4 million boepd.
Shell added itsw capital spending plans for 2006 and 2007 remain unchanged.
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.
