By SELINA WILLIAMS
November 1, 2012
LONDON—Royal Dutch Shell RDSB.LN +0.66% PLC Thursday posted a 6.3% fall in profit for the third quarter, driven by weaker oil and gas prices and lower chemicals margins.
“Shell is driving a long-term and consistent strategy, against a backdrop of volatile energy markets,” said Chief Executive Peter Voser. “I am pleased with our progress in a difficult industry environment.”
The Anglo-Dutch energy company said its clean current cost of supplies—a keenly watched figure that strips gains or losses from inventories and other nonoperating items out from net profit—was $6.56 billion in the three months ended Sept. 30, compared with $7.00 billion in the third quarter of 2011.
This was above average expectations of $6.31 billion in a Dow Jones Newswires poll of 13 analysts.
Including a $1.01 billion gain on the value of inventories and a $423 million impairment mainly on natural gas assets in the U.S. and tax changes in the U.K., Shell’s net profit for the quarter was $7.14 billion, up 2.3% from $6.98 billion a year earlier.
Total oil and gas production was 2.982 million barrels of oil equivalent a day, a decrease of 1% from 3.012 million barrels of oil equivalent a day in the same period last year, due to asset sales, security problems onshore Nigeria and the impact of Hurricane Isaac on offshore operations in the Gulf of Mexico. Analysts were expecting production to rise 2% to 3.071 million barrels of oil equivalent a day.
Total revenue amounted to $115.43 billion, a decrease of 8.4% compared with $125.96 billion in the third quarter of 2011.
Diluted earnings per share were 114 cents, compared with 112 cents the previous year.
Write to Selina Williams at [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.
