It said a weak outlook for oil prices plus risks for BG in Brazil could make the deal “value destructive for Shell shareholders.”
Few investors or analysts have openly challenged the deal’s strategic benefits for the firm.
Shell said it remained confident of winning the vote.
A Shell spokesman said: “We continue to believe we have the broad base of shareholder support we need for the deal to complete.”
Shell has also won the support of Institutional Shareholder Services (ISS), an influential advisory firm, which recommended that Shell shareholders support the deal.
Standard Life Investment’s announcement came on the same day influential shareholder advisory firm Institutional Shareholder Services (ISS) endorsed the deal, saying the downturn in oil markets did not detract from its strategic benefits.
Standard Life Investments, the 16th largest shareholder in Shell with a 2.1pc stake, has voiced doubts that the oil price will bounce back sufficiently to make the tie-up worthwhile.
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.
