Shell (SHEL) 20-F 2005 FY Annual report (foreign)

Exhibits

Exhibit 7

Calculation of Ratio of Earnings to Fixed Charges (US GAAP)

Earnings	2005		2004		2003		2002		2001
Pre-tax income from continuing operations before adjustments for minority interests and income from equity investees		37,511		27,223		19,083		15,281		17,074
Total fixed charges		1,639		1,841		1,424		1,568		1,075
Distributed income from equity investees		6,709		3,472		2,192		1,571		1,800
Less: interest capitalised		427		207		44		43		32
Less: preference security dividend requirements of consolidated subsidiaries		7		9		5		8		13
Total earnings		45,425		32,320		22,650		18,369		19,904
Interest expensed and capitalised		1,175		1,423		828		883		662
Interest within rental expense		457		409		591		677		400
Less: preference security dividend requirements of consolidated subsidiaries		7		9		5		8		13
Total fixed charges		1,639		1,841		1,424		1,568		1,075
Ratio earnings/fixed charges		27.72		17.56		15.91		11.71		18.52

Calculation of Ratio of Earnings to Fixed Charges (IFRS)

Earnings	2005		2004
Pre-tax income from continuing operations before adjustments for minority interests and income from equity investees		38,394		27,361
Total fixed charges		1,958		1,685
Distributed income from equity investees		6,709		4,190
Less: interest capitalised		427		207
Less: preference security dividend requirements of consolidated subsidiaries		7		9
Total earnings		46,627		33,020
Interest expensed and capitalised		1,494		1,267
Interest within rental expense		457		409
Less: preference security dividend requirements of consolidated subsidiaries		7		9
Total fixed charges		1,958		1,685
Ratio earnings/fixed charges		23.81		19.60

Exhibits E1