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Shell’s Shameless Greed: £8 Billion Profit Shows Disregard for Climate Crisis and People’s Well-Being

May 10th, 2023
by John Donovan.
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By John Donovan

Shell, the oil giant partly responsible for environmental destruction and climate change, has shamelessly announced a profit of nearly £8 billion for the first quarter of the year, revealing its insatiable greed for profits. This further highlights the company’s utter disregard for the cost-of-living crisis that their exorbitant fuel prices have caused. Even with oil prices down from their peaks touched after Russia’s invasion of Ukraine, Shell still made money at an obscene rate, almost £1,000 a second or £58,000 per minute. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Ukraine calls on energy giant Shell to tap its massive ‘blood money’ profits from Russia’s invasion

Apr 19th, 2023
by John Donovan.
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FORTUNE

Ukraine calls on energy giant Shell to tap its massive ‘blood money’ profits from Russia’s invasion and donate $1 billion to rebuild the country

BY TRISTAN BOVE April 19, 2023 at 6:15 PM GMT+1

Oil and gas companies reported some of their highest annual profits in history earlier this year, cashing in on gas prices that soared because of Russia’s invasion of Ukraine. But critics say energy giants are indirectly prolonging the war with their record revenues, with some Ukrainian officials even calling for a redistribution of profits to make things right. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Breaking up with Russia is hard for many Western firms, despite war

Apr 16th, 2023
by John Donovan.
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The Washington Post

Breaking up with Russia is hard for many Western firms, despite war

By : April 15, 2023 at 7:21 a.m. EDT RIGA, Latvia — Only a small percentage of the hundreds of companies that promised to leave Russia after its invasion of Ukraine have exited, according to several groups keeping a scorecard — and for those that dawdled, departing has only become more expensive and complicated.

But leaving can be complex. Four days after the invasion, Shell announced it was leaving Russia and later wrote off its nearly 27.5 percent stake in the Sakhalin-2 LNG facility in the Far East at $1.6 billion. This month, an unconfirmed Russian newspaper report suddenly surfaced that Putin had given permission for the company to repatriate $1.2 billion from the sale of its stake in Russia’s Novatek. Shell had no comment. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Russia’s Novatek to acquire Shell’s stake in Sakhalin-2 for $1.16 bln

Apr 13th, 2023
by John Donovan.
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REUTERS

Russia’s Novatek to acquire Shell’s stake in Sakhalin-2 for $1.16 bln

April 12, 202310:28 AM GMT+1

MOSCOW, April 12 (Reuters) – Russia’s government has approved the sale of Shell’s (SHEL.L) former 27.5% stake in the Sakhalin-2 energy project to Russian energy firm Novatek (NVTK.MM) for 94.8 billion roubles ($1.16 billion), a government order showed on Wednesday.

Russian President Vladimir Putin gave his consent for the transfer of the required funds to Shell, Russian daily Kommersant reported last week. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Putin Approves $1.2 Billion Payment To Shell For Sakhalin-2 Exit

Apr 6th, 2023
by John Donovan.
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OILPRICE.COM

Putin Approves $1.2 Billion Payment To Shell For Sakhalin-2 Exit

By Tsvetana Paraskova – Apr 04, 2023, 4:00 AM CDT

Vladimir Putin has approved a request by Novatek to allow Shell to receive $1.2 billion (94.8 billion rubles) from the Russian gas producer for its 27.5% stake in the Sakhalin-2 LNG project, Russian daily Kommersant reported on Tuesday, quoting sources with knowledge of the matter.

Last year, a decree from Putin stipulated that a newly set up state Russian company would take over the rights and obligations of Sakhalin Energy Investment Co., the joint venture running the Sakhalin-2 oil and gas project. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Energy giant Shell expects boost in gas production

Apr 6th, 2023
by John Donovan.
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Energy giant Shell expects boost in gas production

August Graham, PA Business Reporter

Thu, 6 April 2023 at 8:28 am BST

Energy giant Shell has said it expects to have produced more gas in the opening three months of this year than it did during the close of last year even as prices drop from recent extremes.

The oil and gas major said developments in Australia would also help it supply more liquid gas – the type transported by ship – to countries around the world.

The company’s shares rose by 1.8% after the news, while rival BP also saw a 0.6% boost.

Shell expects to have produced between 930,000 and 970,000 barrels of oil equivalent per day from its integrated gas division over the three months, up from 917,000 in the last quarter of 2022.

It also expects to load ships with between seven and 7.4 million tonnes of liquid natural gas (LNG) during the quarter, an increase from 6.8 million tonnes in the previous three months. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Advocacy group accuses Shell of ‘greenwashing’ and misleading investors in SEC complaint

Feb 3rd, 2023
by John Donovan.
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The Washington Post

Advocacy group accuses Shell of ‘greenwashing’ and misleading investors in SEC complaint

Analysis by  with research by Vanessa Montalbano

February 1, 2023 at 8:03 a.m. EST

An advocacy group is accusing the oil giant Royal Dutch Shell of misleading investors by classifying its investments in natural gas as spending on renewable energy.

In a complaint filed today with the Securities and Exchange Commission, the group Global Witness argues that Shell’s classifications amount to “greenwashing” — the practice of portraying a business or product as more environmentally friendly than it really is. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Ben van Beurden on The Sunday Times Business Person of the Year 2022 Shortlist

Dec 11th, 2022
by John Donovan.
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The Sunday Times Business Person of the Year 2022: The shortlist

The Sunday Times

In a year buffeted by war, falling markets and government upheaval, we present the shortlist for the business person who has stood out above the rest

Ben van Beurden, Shell

The Dutchman will call time on a 40-year career at Shell in 2023, having spent nine years in the hot seat. He gambled early in his tenure on the £36 billion takeover of gas giant BG Group, relocated Shell’s head office to London, and cut its dividend when the oil price tanked during Covid. But the company has surged this year on the back of higher oil prices stoked by the Ukraine war. Van Beurden, 64, leaves Shell in a fitter state and with plans to embrace green energy — read more

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Europe faces long-term pain from energy crisis: Shell CEO

Oct 23rd, 2022
by John Donovan.
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AFP

Europe faces long-term pain from energy crisis: Shell CEO

23 Oct 2022

Doha (AFP) – Europe faces painful “industrial rationalisation” due to its energy crisis that risks political trouble, the head of Shell warned Sunday, as the oil giant joined a natural gas project in Qatar.

Shell chief executive Ben van Beurden agreed a deal for a 9.3 percent stake in Qatar Energy’s North Field South project, that will play a major role in the Gulf state’s effort to increase liquefied natural gas (LNG) production by 50 percent in the next five years.

At the signing ceremony in Doha, van Beurden said European industry face taking a major hit from the energy crisis, worsened by the Russian invasion of Ukraine.

Europe has reduced consumption “quite effectively, quite significantly” following the loss of 120 million tonnes of Russian gas a year, van Beurden said, but “a lot of this reduction is achieved by switching off industry”.

Europe has desperately searched for quick alternatives to Russian gas, but van Beurden said Europe would need large amounts of LNG for decades. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell’s £80m boss Ben van Beurden preparing to join stream of FTSE100 bosses heading for the door

Sep 3rd, 2022
by John Donovan.
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This is MONEY

Shell’s £80m boss Ben van Beurden preparing to join stream of FTSE100 bosses heading for the door

By LUCY WHITE FOR THE DAILY MAIL: PUBLISHED: | UPDATED: 

The £80million boss of Shell is preparing to join the stream of FTSE100 bosses heading for the door. 

Ben van Beurden – who, it emerged in March, bagged £4.6million in bonuses on top of his £1.4million salary last year, taking his total pay and bonuses to almost £80million during his nine years at the helm – could step down as soon as 2023 as the oil giant begins its search for a replacement. 

His departure will mark the end of an era for Shell, as it tries to toe the tricky line of boosting Britain’s energy security with embracing sustainable technologies. While Van Beurden’s legacy includes a commitment to reduce oil production, he has been criticised for failing to take more drastic action. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell Walks Away From Major Russian LNG Project With Nothing

Sep 1st, 2022
by John Donovan.
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Bloomberg

Shell Walks Away From Major Russian LNG Project With Nothing

By Will Mathis: 1 September 2022 at 17:30 BST

Shell Plc will walk away from Russia’s Sakhalin-2 liquefied natural gas project with nothing after President Vladimir Putin transferred the major facility to a new operating company.

The London-based firm’s decision is the latest indication that Putin won’t allow international energy companies to realize big financial gains as they exit Russia over the invasion of Ukraine.

Shell had already written off the $1.6 billion value of its 27.5% stake in Sakhalin-2 earlier this year. T read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Europe gas shortages to last several winters, Shell boss warns

Aug 29th, 2022
by John Donovan.
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Sunday Telegraph

Europe gas shortages to last several winters, Shell boss warns

Ben van Beurden says energy rationing will be needed for a number of years

By Rachel Millard: 29 August 2022 • 12:54 pm

Europe’s energy crisis will last for several winters, the boss of Shell has said, as he warned it is “fantasy” to think shortages caused by Russia cutting supplies can be resolved quickly.

Ben van Beurden told a conference in Norway that power rationing will be needed for a number of years as electricity prices hit fresh record highs. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Europe’s gas crisis could last several winters, Shell CEO says

Aug 29th, 2022
by John Donovan.
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REUTERS

Europe’s gas crisis could last several winters, Shell CEO says

Aug 29, 2022

STAVANGER — Europe could face several winters of gas shortage as a result of the cuts to Russian supplies, Shell Chief Executive Ben van Beurden told a news conference in Norway on Monday.

“It may well be that we will have a number of winters where we have to somehow find solutions,” van Beurden said.

(Reporting by Terje Solsvik, editing by Gwladys Fouche)

SOURCE

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Russian court rules local Shell JV to move under Moscow control -Ifx

Aug 22nd, 2022
by John Donovan.
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Reuters

Russian court rules local Shell JV to move under Moscow control -Ifx

By Reuters: Updated: 22/08/2022 – 16:45

MOSCOW – A Russian court ruled on Monday that Salym Petroleum Development (SPD), a joint venture between Shell and Gazprom Neft, should be transferred to Russian jurisdiction, Interfax news agency reported, citing the verdict.

Kommersant daily reported last week that Gazprom Neft was suing to have its Salym Petroleum Development joint venture with Shell be transferred to Russian jurisdiction, and for Shell’s shareholding rights to be suspended. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

PURE GREED: How fatcat energy bosses will bank a staggering £15 MILLION as terrified hard-up Brits choose heating or eating

Aug 11th, 2022
by John Donovan.
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The Sun

PURE GREED: How fatcat energy bosses will bank a staggering £15 MILLION as terrified hard-up Brits choose heating or eating

IT is High Noon for the energy fatcats today as they drag their expensively-dressed behinds into showdown talks with the Chancellor.

As The Sun revealed yesterday, Nadhim Zahawi has summoned gas and electricity bosses in to explain just how much cash they are making out of the energy crisis.

It comes as energy experts at Auxilione revealed energy bills could reach over £5,000 next year and Martin Lewis warned the crisis could put lives at risk. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

£7.5bn taxpayer handout for oil titans Shell and BP

Aug 7th, 2022
by John Donovan.
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This is MONEY.co.uk

Shell and BP to share in huge giveaway that will blow hole in gains from windfall tax: £7.5bn taxpayer handout for oil titans

  • Energy giants already receive Treasury incentives to invest in the North Sea 

  • Fresh changes have been ushered in that will turbocharge the subsidies 

  • Plans introduced at same time as Government’s £5bn ‘windfall tax’ 

  • City sources describe exceptionally high incentives as ‘beyond believable’ 

By LUKE BARR, FINANCIAL MAIL ON SUNDAY

PUBLISHED: | UPDATED: 

Oil and gas titans are set to reap a mammoth taxpayer giveaway of up to £7.5billion despite making record profits.

BP and Shell are among the firms that will benefit from new tax breaks, despite BP boss Bernard Looney comparing his firm to a ‘cash machine’.

Energy giants already receive Treasury incentives to invest in the North Sea, but fresh changes have been ushered in that will turbocharge the subsidies. The plans have been introduced at the same time as the Government’s £5billion ‘windfall tax’ – billed as taxing energy firms to help pay for the cost-of-living crisis. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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