By Grant Smith
July 24 (Bloomberg) — The North Sea dated Brent premium, used to price nearly two-thirds of the world’s oil, declined as profits for European refiners fell to their lowest in 18 months.
So-called dated Brent for loading within 21 days fell to a premium of $1 a barrel over the cost of cargoes loading in September, from $1.40 yesterday, according to data supplied by PVM Oil Associates Ltd. in London. That works out to $76.79 a barrel today, from $78.84 previously, according to Bloomberg calculations based on PVM data.
Refiners running Brent through a plant with a cracking unit may be losing $4.23 a barrel, the biggest loss since Jan. 12, 2006, according to Bloomberg data. Brent futures contracts rose as high as $77.98 a barrel on London’s ICE Futures exchange on July 19, the highest in more than 11 months, squeezing profits for refinery operators.
Exports of the four grades that make up dated Brent are scheduled to decline by 6.8 percent to an average 335,992 barrels a day next month, according to the field operators’ loading programs.
Brent crude for September settlement fell $1.67 cents, or 2.2 percent, to $75.19 a barrel at 5:34 p.m. on the ICE Futures exchange in London.
To contact the reporter on this story: Grant Smith in London at [email protected]
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.
