Daily Mail
Wednesday, March 18, 2009
Testing times: News the oil major is being included in the corruption probe spooked investors
OIL giant Shell is at the centre of an embarrassing bribery investigation which could lead to the imposition of hefty fines.
The anti-corruption story appeared as the Anglo-Dutch firm surprised investors with a pledge to hike the dividend 5pc.
But it was news that a corruption probe into Nigeria’s oil industry had been broadened to include Shell itself that spooked the market, sending its ‘A’ shares down 21p to 1619p.
‘Shell is currently under investigation by the United States Securities and Exchange Commission and the United States Department of Justice for violations of the US Foreign Corrupt Practices Act,’ the firm said in its annual report, released yesterday with a strategy update.
Incoming chief executive Peter Voser said an internal inquiry has been launched in to the actions taken by a contractor working for the oil major in Nigeria. Ten companies are being investigated as part of the probe.
‘It (the probe) is about potential payments made on our behalf to customs in Nigeria,’ he said. ‘We are now involved in that investigation.’
On trading he pledged to boost payouts to investors’ despite ‘testing times’ in the industry. Dividends for 2009 are expected to be around 7.1bn.
The firm said: ‘Dividends are an important statement of confidence in the future, and Shell is the only company in the sector to have already announced dividend growth plans for 2009.’
Rival BP is taking a more prudent stance, freezing its dividend payments this year for the first time in almost ten years. Plunging oil prices have caused, panic in the industry with firms cutting back on exploration and developing plants. But Shell said it will invest £22.8bn in its portfolio of projects, along with a raft of cost cuts. The axe is likely to be taken to jobs.
The firm said annual production growth would rise between 2 and 3pc in the next decade. Net reserves stood constant at the equivalent of 11.9bn barrels.
It was a rare year in which the amount of oil pumped did not exceed that added to reserves.
Shell has also halted investment in wind and solar power to focus solely on biofuels as part of its push into renewables.
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.
