By Bob Davies: 1 November 2013
Shell vowed to press on with its controversial Arctic drilling plans, despite a warning that charges linked to the project would weigh on its already weak profits.
Pre-tax earnings slipped by 31 per cent to £2.65billion in the third quarter, amid rock bottom refining margins and a fresh charge on its troubled Nigerian operation.
Finance director Simon Henry warned the firm was also likely to take a £125million charge in the fourth quarter on its stalled quest to find oil in the Beaufort and Chukchi seas off Alaska. Shell’s Kulluk drilling rig ran aground in stormy seas on New Year’s Eve, putting its Arctic plans on ice indefinitely.
Henry said Shell would write off the value of the rig if the cost of repairing it exceeds the likely benefit. Shares fell 107.5p to 2076.5p following the warning, despite a 5 per cent increase in the dividend to 0.45 cents (28p) per share.
But while Henry could not predict for certain whether Shell will begin drilling next year, due to uncertainty over environmental permits, he issued a firm commitment to Arctic exploration.
He said the Arctic was ‘the most attractive single opportunity for the future’, adding that the Chukchi sea was ‘top of the list’.
Shell has also suffered major setbacks in Nigeria, where theft from pipelines has triggered costly shutdowns and forced it to put onshore oilfields up for sale. This cost the firm some £187million during the period, as it lost 65,000 barrels per day of production.
Third-quarter output was 2.9million barrels per day, down 2 per cent including the effect of its Nigerian woes but up 1 per cent on an underlying basis.
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.
