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Posts Tagged ‘Ben van Beurden’

Shell oil sands exit, mired in OPL 245 scandal, wary over Iranian Oil

Links below to a selection of news stories posted on
our sister website royaldutchshellgroup.com.

They include, among other developments, news that Shell is rightly wary of buying more Iranian crude oil. This is because of the legal minefield relating to sanctions. 

Also coverage of the latest news about the OPL 245 Nigerian corruption scandal involving Shell and ENI.

Plus Shell’s fire sale of most of its Canadian oil sands operations and the jump in total pay for Shell CEO Ben van Beurden, an issue likely to be raised at the forthcoming AGM. 

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Shell Multimillionaire CFO Simon Henry Departs Today

UPDATED WITH MORE LINKS: “Simon Henry has loads of money now. Plenty to pay lawyers to sue me for defamation if anything I have stated is untrue. He also has me to thank for the above Daily Mail article.”

By John Donovan

Despite his well-documented role in the Shell oil and gas reserves scandal over a decade ago, Simon Henry clung on and ended up hitting the jackpot when appointed Chief Financial Officer of Royal Dutch Shell Plc. He is departing that job today but will become an employee of Shell International Limited on 1 April 2017, April Fools Day, for a two-month “transition” period. Perhaps he needs the time to count his cash while having a good laugh at Shell investors.

Many millions of dollars including payment for loss of office, various bonus payments and yet more millions from the sale of some of his shares – two helpings, each for over £1m.

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Dysfunction Crisis and Scandal at Shell Norway

Printed below is an EnergyVoice.com article about defects found at Shell’s Norway gas plant. These were uncovered during a recent inspection carried out by The Petroleum Safety Authority of Norway.

Actually, the situation is far more serious. On Saturday I supplied certain related information to Ben van Beurden just in case he has been kept in the dark. The ball is in Shell’s court.

Shell knows I intend to publish an array of leaked communications and other information they would prefer to keep secret.

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Royal Dutch Shell CEO: Dividends No Longer No.1 Priority

One of our regular contributors has picked up on a priority switch by Shell senior management which may frighten shareholders in Royal Dutch Shell Plc.

During an interview with Michelle Fox of CNBC earlier today, Ben van Beurden the Chief Executive Officer of the company said: In terms of debt paydown and covering of dividends two important priorities – Debt No 1, Dividend No 2. 

Michelle Fox asks… When you say Dividend is number two does this mean you could change the level going forward?  Mr Van Beurden made reassuring noises about the dividend but noticeably did not backtrack on his relegation of dividend payment levels to being a secondary priority

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Ben van Beurden admits earnings figures do not “look good” for investors

Royal Dutch Shell Plc has today announced its disappointing fourth-quarter figures. The Company turned in one of its worst performances in more than a decade.”

The Telegraph says that the company has dashed investor hopes for a resurgence in profits. It reports that “for the year as a whole Shell deepened its losses in its exploration and production business from $2.2bn to $2.7bn”.

CNBC says that Ben van Beurden, CEO of Royal Dutch Shell Plc has conceded that the earnings figures do not “look good” for investors. Their article headline says: Shell posts earnings of $3.5 billion in 2016; an 8% slide from $3.8 billion in 2015

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Shell finance boss tipped to take over the top job cashed in stock worth £1m days before he suddenly quit

By Rachel Millard For The Daily Mail: 21:58, 15 December 2016 

A finance boss at Royal Dutch Shell who was tipped to take over the top job has suddenly left – just days after he sold stock worth £1million.

Credited with leading the firm’s £41billion takeover of oil and gas group BG last year, Simon Henry was a key lieutenant of chief executive Ben van Beurden.

But the 55-year-old’s departure was announced yesterday to the shock of the markets. Relatively unknown internal finance executive Jessica Uhl has been appointed in his place.

It emerged Henry sold more than £1million of shares on December 1, within 24 hours of the historic Opec deal to cut production that then sent the price of oil soaring.

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Shell finance chief Simon Henry to leave after 30 years with the oil major

Caitlin Morrison deputy digital editor at City A.M: Thursday 15 December 2016 8:47am

Royal Dutch Shell announced today that finance chief Simon Henry will step down in March 2017, to be replaced by Jessica Uhl.

Henry – who was appointed to the Lloyds Bank board in 2014 – has been with Shell for over 30 years, and has been chief financial officer for seven.

“I have been privileged to spend the past 34 years working with great colleagues, in a great company,” said Henry.

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Shell to replace CFO Simon Henry in March

Royal Dutch Shell (RDSa.L) will replace Simon Henry as chief financial officer on March 9, 2017 with Jessica Uhl, a financial executive in Shell’s gas business, the company said on Thursday.

Henry will remain available to the company until June 30, 2017, Shell said. It gave no reason for his departure.

“Jessica combines an external perspective with broad Shell experience and is a highly regarded executive,” Shell Chief Executive Ben van Beurden said.

Uhl joined Shell in 2004 and was previously employed at Enron and Citibank in the U.S. and Panama.

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We Must Harness the Power of Carbon Capture

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Ben Van Beurden

Van Beurden is the CEO of Royal Dutch Shell

“To make investments in clean energy technologies more attractive, governments must set an effective price on CO2 emissions”

Nobody can predict the future, but it is highly likely that global energy demand will grow for decades to come. There will be more people on this planet, more people will be living in cities, and more people will be seeking a better life. “A better life” in this context does not mean a tv in every room or a new smartphone every year. It does mean adequate housing, healthcare, sanitation, and modern transport.

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Shell ties in bonuses to reinforced emissions strategy

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By Ron Bousso and Karolin Schaps | LONDON

Royal Dutch Shell plans to link part of its executive bonuses to greenhouse gas emissions and conduct more active screening of future investments to further efforts to reduce the energy group’s carbon footprint, its CEO told Reuters.

The new initiative by the Anglo-Dutch group comes in response to mounting pressure from investors to adapt to an expected flattening in oil consumption within as little as five years and international plans to phase out fossil fuels by the end of the century to combat global warming.

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Shell studying acquisitions in the green energy sector

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screen-shot-2016-11-09-at-19-58-01Written by Reporter – 30/11/2016 2:02 pm

Shell said it is studying acquisitions in the green energy sector.

It comes amid shareholder pressure to look at a strategy beyond fossil fuels.

The oil major currently has a market value of $200billion and produces 2% of the world’s oil and gas.

Chief executive Ben Van Beurden said: “The idea you can just be a very clever observer and step in when the moment is right, forget about it.

“I am convinced that in this space we will play an active role, a leafing role and we will plan acquisitions in it.”

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Shell CEO expects no valuation hit from climate accord

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Royal Dutch Shell expects to pump out all the fossil fuel reserves listed on its balance sheet, its chief executive said, dismissing concerns that production limits in the wake of the Paris climate accord could hit the energy giant’s valuation.

In an interview with Dutch newspaper Het Financieele Dagblad, Ben van Beurden said the issue of “stranded” reserves – deposits in the ground that cannot be used because of carbon emissions limitations – would have no impact on balance sheets.

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