Wednesday, October 03, 2007 15:05 IST
NEW DELHI: Global oil major Royal Dutch Shell will buy Bharat Petroleum Corp Ltd’s (BPCL) 49 per cent stake in lubricant marketing firm Bharat Shell Ltd (BSL) for Rs 145.80 crore.
BPCL plans to exit the joint venture company, floated in 1993 to market Shell branded lubricants in India, as it has developed a competing product.
Official sources said the Petroleum Ministry has moved a Cabinet note for sale of BPCL’s 49 per cent stake in BSL to Shell. Shell holds 51 per cent stake in BSL.
Besides paying BPCL Rs 145.8 crore in cash, Shell will also takeover the state-run firm’s 49 per cent of BSL’s debt amounting to Rs 31.2 crore as on March 31, 2006.
BSL incurred losses till financial year 2001-02 but after hiving off its loss-making LPG business, the company showed signs of turnaround and posted a net profit of Rs 12.12 crore in 2006-07.
Sources said BSL was formed to strengthen BPCL’s position in the lubricant market by availing the opportunity for blending and marketing high performance speciality lubricants. BPCL did not have its own production of base oil at that time.
Both BPCL and Shell recognised the need for building their own brands independently in India and the state-run firm decided to exit BSL.
Sources said the board of Shell had on May 10 approved share purchase agreement with BPCL to acquire its 49 per cent stake in BSL at a price not exceeding Rs 177 crore.
After the acquisition, Shell would remove the ‘Bharat’ name in BSL. Shell currently has operational control of BSL.
http://www.dnaindia.com/report.asp?NewsID=1125189
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.
