WALL STREET JOURNAL
Shell 3Q Adjusted Pft -67.6% To $2.62B On Weaker Oil, Gas
OCTOBER 29, 2009
By James Herron
Of DOW JONES NEWSWIRES
LONDON (Dow Jones)–Royal Dutch Shell PLC (RDSB.LN) Thursday posted a 67.6% fall in adjusted third-quarter profit due to much lower average oil prices and weak natural gas and refined product markets.
Shell Chief Executive Peter Voser said there are indications that oil and gas markets are improving, although the recovery remains uncertain.
“We continue to focus on improving our competitive cost position, simplifying Shell,” which has reduced operating costs by $1 billion in the first nine months of the year and will cut employee numbers by 5,000, or around 10% of the workforce in the restructured divisions, Voser said.
The Anglo-Dutch energy company said the clean current cost of supplies, a keenly-watched profit figure because it strips out gains or losses from inventories and other non-operating items, was $2.62 billion in the three months ended Sept. 30, compared with $8.09 billion in the third quarter of 2008.
This was above analysts’ expectations for $2.56 billion in a Dow Jones Newswires poll of six analysts.
Total oil and gas production was 2.93 million barrels of oil equivalent per day, a decline of 0.2% on the year. Analysts were expecting a production decline of 2.3%.
Net profit for the quarter totaled $3.25 billion, down 61.6% from $8.45 billion in the same period a year ago.
Group revenue was $75.01 billion, compared with $131.57 billion in the third quarter of 2008.
Diluted earnings per share were 53 cents compared with 137 cents in the same period of the previous year.
Shell B shares closed at 1,869 pence Wednesday, up 23.8% in the last six months as the oil price has rebounded.
Company Web site: www.shell.com
-By James Herron, Dow Jones Newswires; +44 (0)20 7842 9317; [email protected]
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.
