Archived press release

Shell record profits at expense of people and the planet

2 May 2003

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 ageing 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 really wants to improve the lives of people world-wide, 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 (PDF format - 300K).

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If you're a journalist looking for press information please contact the Friends of the Earth media team on 020 7566 1649.

Published by Friends of the Earth Trust