Times Online
July 30, 2009
Shell’s earnings in the three months to the end of June declined from $7.9 billion (£4.8 billion) in the same period last year to $2.3 billion. Its first half performance was 64 per cent lower at $5.6 billion.
In his first results as chief executive, since taking over from Jeroen van der Veer, Shells Peter Voser gave a gloomy assessment of the oil market blaming the economic downturn for reduced energy demand. Since reaching a record high of $147 a barrel last year, oil is now trading 57 per cent lower at $63.
Mr Voser also warned that production capacity and costs remained too high in the industry and would remain a threat.
Shell’s performance was worse than BP’s, which reported its second quarter results two days ago.
BP’s profits fell 53 per cent but has launched a programme to cut a further $1 billion of costs on top of the $2 billion it has already achieved.
Shell is also cutting costs and took $700 million out of its operations in the first half.
It has also reduced its senior management numbers by 20 per cent and plans to cut capital expenditure by 10 per cent next year.
Mr Voser said: “Energy demand is weak. There is excess capacity in the market, and industry costs remain high. Conditions are likely to remain challenging for some time, and we are not banking on a quick recovery. Shell is adapting to this new situation, and we must do more.”
Despite the difficult market conditions, Shell said it would be increasing its second quarter dividend by 5 per cent to 42 cents a share. The total interim dividend is also up 5 per cent to 84 cents a share.
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.
