26 July 2012
Falling energy prices have left its mark on Royal Dutch Shell after a weaker-than-expected profits performance drove a big fall in its share price.
While chief executive Peter Voser insisted the Anglo-Dutch company was “moving forward in volatile times”, Shell’s second quarter profits of 5.7 billion US dollars (£3.7 billion) were down 13% and below City hopes.
Shell increased upstream production by 4% to 3.1 million barrels a day in the quarter – driven by improved output of natural gas – but this was more than offset by the drop in global energy prices in the period.
Mr Voser said: “Our profits have fallen with energy prices, but our growth strategy is delivering to the bottom line.”
Shell has sold assets in recent years as it looks to improve financial headroom for projects with greater growth potential.
Capital investment in the second quarter was 8.1 billion US dollars (£5.2 billion) and the company remains on track to spend 32 billion US dollars (£20.6 billion) this year.
Mr Voser said more than 20 construction projects were under construction and that Shell wanted leadership positions in the areas where it chooses to invest.
Despite the comments, shares fell by 4% and dragged rival BP lower ahead of its own figures next week.
Keith Bowman, equity analyst at Hargreaves Lansdown Stockbrokers, said: “A drop in earnings had been expected, but not to this extent as evidenced by the share price fall.
“At a time when investors are looking towards blue-chip reliability, the disappointment contained in the headline figures is palpable. Nonetheless, on a longer term view, there still seems much to go for.”
Copyright © 2012 The Press Association. 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.
