By ETAIN LAVELLE FOR THE DAILY MAIL: PUBLISHED: 22:22, 28 September 2015
To the delight of eco-warriors worldwide, Shell pulled the plug on its Arctic drilling campaign, taking a £2.7billion hit on the controversial venture that was persistently undermined by the prolonged oil price weakness and fierce opposition from ecological activists.
Although an exploratory well showed indications of oil and gas in Alaska’s Chukchi Sea, Shell blamed high costs associated with the project as well as the ‘challenging and unpredictable’ regulatory environment as it shelved its drilling plans for the foreseeable future.
RBC analysts said that given sub-$50 oil, Shell’s budget would be better spent elsewhere, especially as it is about to close the £70billion acquisition of BG announced earlier in the year.
The price of crude has been on a downward trajectory from its over $100-a-barrel highs in the summer of 2014 and has now more than halved to $47.70 a barrel, a price at which even the super-majors find investment in exploration uneconomic.
‘This announcement appears to be the latest evidence that the company is finding it difficult to sustain long-term investment expenditure without any clear evidence of a payback in the near term,’ said CMC Markets’ Michael Hewson.
After a 25 per cent drop in its share price in the past six months, concerns are now focused on Shell’s dividend, which is currently at a healthy 8 per cent.
But ‘cutting the dividend now could well inspire further sharp falls in the share price, the last thing that management wants,’ warned Hewson.
Shares in the oil giant ended the session 2.7 per cent lower, or down 42.5p at 1514.5p.
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.
