ROYAL Dutch Shell and BP are set to blame the weak oil price for dramatic falls in third-quarter pre-tax profits and revenues, analysts say.
By GEOFF HO: Sun, Oct 25, 2015
The price of crude oil has nearly halved over the past 12 months because of a Saudi Arabia-led effort by the Opec cartel to crush competition from US shale oil operators.
On Tuesday, BP is expected to say its third-quarter profits have slumped 57.5 per cent to $2.2billion (£1.4billion), with revenues down 47.6 per cent to $49.2billion (£31.9billion), even though analysts believe that its refining, processing and retail divisions have performed well.
On Thursday, arch rival Shell is also likely to produce a weak set of results.
The consensus forecast has Shell’s profits for the quarter down 48.3 per cent to $4.5billion (£2.9billion), while its revenues are expected to be down 44.4 per cent to $60billion (£38.9billion).
On Friday, Brent Crude Oil closed at $47.96 a barrel
Aside from the weak oil price, Shell’s results will be hit by its decision to abandon exploration of the Arctic, after tests at its Burger J well in the Chukchi Sea failed to find enough oil and gas to justify the cost of its development.
It had invested around £5billion in the project. Despite divisions, Opec members have maintained their production levels, despite a glut of supply, in order to defend their global market share.
By driving down the price, Opec has dramatically increased the costs of US shale oil firms, placing them under immense financial strain.
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.
