Daily Mail
By SAM FLEMING
Last updated at 9:11 PM on 29th April 2009
Oil prices may not bounce back for 12 to 18 months, Royal Dutch Shell warned after a sharp fall in profits.
Profit warning: Royal Dutch Shell says it could be another 12 months before oil price bounce back
First-quarter earnings tumbled 58 per cent to £2.2billion after oil prices more than halved.
Demand may fall further because of the mounting recession, said chief financial officer Peter Voser, who replaces Jeroen van der Veer as chief executive this summer.
‘In the near-term, the next 12 to 18 months, it’s difficult to see an uptick in the oil or gas price,’ he said.
‘It will take time for the economy to recover, and hence the oil and gas price will be affected.’
Industrial demand for gas is particularly depressed, said Shell. Brent crude yesterday traded a shade under $50 a barrel – a far cry from highs near $150 last year.
The drop in the oil price pushed Shell’s Canadian oil sands venture into the red, forcing it to delay investments and consider axing workers. Like rival BP, Shell is being forced to ratchet up borrowing to sustain dividends.
It hiked raised the first-quarter payout by 5 per cent to 42 cents a share (28.5p). The ‘A’ shares rose 26p to 1,566p.
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.
