Shell to Sell Zimbabwe Petroleum Assets to Petronas (Update1)
By Carli Lourens
July 10 (Bloomberg) — Royal Dutch Shell Plc, Europe’s biggest oil producer, will sell all its petroleum assets in Zimbabwe after President Robert Mugabe was reappointed last month in a disputed election following a decade of recession.
“It coincides with the political debate but that’s not the background,” Spokesman Rainer Winzenried said by phone from the Hague today. Shell is reviewing refining and marketing businesses worldwide to “see whether they are profitable enough to meet our expectations,” he said.
Anglo American Plc, Rio Tinto Group, Standard Chartered Plc and Barclays Plc are among companies still operating in the country after African observers said a June 27 vote that extended Mugabe’s 28-year rule wasn’t free or fair.Central African Mining & Exploration Plc agreed to buy platinum reserves in a deal that included a $100 million loan to the government.
Shell’s assets, including half of a venture with BP Plc that sells 172 million liters (45 million gallons) of fuel a year, 20.73 percent of an unoperational refinery and 226 fuel stations, will be sold to a unit of Petroliam Nasional Bhd., Malaysia’s state oil company, Winzenried said. BP has first rights to buy Shell’s stake in the venture.
Zimbabwe “still has good infrastructure which we believe will form the basis of renewed economic growth once the current political situation is resolved,”Rashid Yusof, chief executive officer of Petroliam Nasional’s Cape Town-based unit Engen Petroleum Ltd., said today in an e-mailed statement. The Malaysian company is also known as Petronas.
Mugabe stood as the only candidate in the June presidential runoff election afterMorgan Tsvangirai, leader of the opposition Movement for Democratic Change, withdrew from the race because of violent attacks on his supporters. The Zimbabwe president’s policies have contributed to the world’s highest inflation rate of at least 350,000 percent.
To contact the reporters on this story: Carli Lourens in Johannesburg at[email protected]
Last Updated: July 10, 2008 12:04 EDT
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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.
