Royal Dutch Shell Chief Executive Jeroen van der Veer made the announcement as Europe’s biggest oil company posted stronger third-quarter profit.
The company also said it expected winter oil production at its Sakhalin project to start soon and that Sakhalin-2 liquefied natural gas sales would start in early 2009.
The growing financial crisis, plunging energy prices and rising costs have forced oil companies to scale back spending and delay projects, with expensive ventures in the Canadian oil sands hardest hit.
A growing list of Canadian projects have been put on hold or scaled back in recent months. For example, Suncor Energy (SU.TO: Quote) said last week that it would delay construction of an oil sands upgraded for C$20.6 billion ($17 billion) by one year to 2013.
($1=$1.20 Canadian)
(Reporting by Susan Taylor; Editing by Lisa Von Ahn)
© Thomson Reuters 2008 All rights reserved.
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.
