(Bloomberg)
20 October 2007
KARACHI — Shell Pakistan Ltd., a unit of Royal Dutch Shell Plc, posted a profit in the first-quarter as the value of oil stocks gained because of higher crude prices.
Net income rose to Rs532.7 million ($8.8 million), or Rs9.72 a share, in the first-quarter ended Sept. 30, compared with a loss of Rs215.5 million, or Rs3.93, a year ago, the Karachi-based company said in a statement to the stock exchange today. Sales fell to Rs32.7 billion from Rs34.3 billion.
Fuel demand in Pakistan is increasing, spurred by an economy that is forecast to expand 7.2 per cent in the 12 months started July 1, 2007, from 7 per cent last year. Oil prices reached a record $89 a barrel yesterday, bolstering the value of oil inventories held by Shell Pakistan.
“The company’s sales in the engine lubricants and gas area improved,” said Farhan Mehmood, a research analyst at JS Global Capital Ltd., in Karachi. “The gains in inventories also helped Shell return a profit.”
Pakistan asks companies to sell fuels below cost in return for a commitment that the government will compensate them for the losses. The government didn’t make the payments on time last year and also in the first quarter this year, forcing Shell Pakistan to borrow money for its expenses.
Shell Pakistan’s shares, which have risen 12.8 per cent this year, were unchanged at 449 rupees at noon local time break on the Karachi Stock Exchange. Shell has a 76 per cent stake in the company.
Oil stocks gained between Rs60 million and Rs70 million in value because of higher crude prices, according to Mehmood
Copyright © 2007 Khaleej Times All Rights Reserved.
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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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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
