SHELL RECORD PROFITS AT EXPENSE OF PEOPLE AND THE PLANET

May 2

http://www.foe.co.uk/resource/press_releases/shell_record_profits_at_ex....

Shell today boasted record profits for the first quarter of 2003,
as well as the "highest hydrocarbon production in recent
history ". While Shell's directors and shareholders will be
celebrating the figures, the profits may generate less enthusiasm
among poor, vulnerable communities around the world whose health
and local environment is suffering as a result of Shell's aging
and polluting refineries and depots.

Shell's underlying profits in the first three months of the year
almost doubled to a record 3.91 billion US dollars (?2.43
billion). Net income is up a massive 136% on the same period last
year, to $5.3 billion.

The news comes just one week after its Annual General Meeting was
dominated by representatives from communities around the world who
are suffering as a result of living next to the company's
polluting refineries.

Representatives from communities in Nigeria, the Philippines,
Nigeria, South Africa, Texas and Louisiana embarrassed Sir Phillip
Watts, Chair of the Shell Group, by providing a long list of
examples of how Shell is putting profits before people and the
environment. But their testimonies did not stop Shell
shareholders awarding Sir Phillip and his board colleagues with a
massive fat-cat pay hike.

Friends of the Earth's Corporate Accountability Campaigner Craig
Bennett said:

" When Shell's neighbours ask the company to replace the old
leaking pipelines which run through their communities, or request
help with the ongoing health care costs associated with breathing
in Shell's pollution, they get nothing. Instead Shell spends its
money on its fat-cat directors and its shareholders .

" If Tony Blair r eally wants to i mprov e the lives of
people worldwid e, he could start by changing company law to stop
UK companies like Shell putting profits before people and the
environment. Until then, UK plc will be something to be ashamed
of, not something to boast about. "

First hand accounts from Shell neighbours are in the new Friends
of the Earth report Failing the Challenge - The Other Shell
Report available at:

http://www.foe.co.uk/resource/reports/failing_challenge.pdf[1]

.. [1] http://www.foe.co.uk/resource/reports/failing_challenge.pdf
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