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Shell’s Brilliantly “Clean” Plan: Ramping Up LNG While Preaching Net-Zero Gospel

Oct 5th, 2023
by John Donovan.
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…let’s not forget the crown jewel in Shell’s sparkling tiara: its $54bn splurge on BG Group in 2016. Who cares about  environmental criticism? More LNG, more money…

Posted by John Donovan 5 October 2023

In a masterful display of environmental puppetry, Shell, that ever-conscientious guardian of Mother Earth, announced at its capital markets day (amidst tittering from environmentalists) that while they were all about that net zero life, the delicious allure of liquefied natural gas (LNG) was simply too irresistible. After all, what’s a little carbon between friends?

Our beloved Wael Sawan, the fresh captain of the Shell ship, must have missed the memo on actual clean energy. Instead, he sang praises of LNG – you know, that other carbon-emitting fuel. Apparently, the sheer prospect of rolling in green – not from trees but from dollar bills – by investing a cool $4bn a year in LNG projects up to 2025 was just too tantalizing to pass up. read more

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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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Breakingviews: Shell’s next boss looks a shoo-in

Sep 3rd, 2022
by John Donovan.
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REUTERS

Breakingviews: Shell’s next boss looks a shoo-in

By : September 2, 2022: 2:40 PM GMT+1

LONDON, Sept 2 (Reuters Breakingviews) – Shell (SHEL.L) is about to get a new boss. Chief Executive Ben van Beurden, who has been in situ since the start of 2014, is likely to step down from the $192 billion oil giant next year, Reuters has reported read more . Plenty of credible candidates exist to replace him, but one looks the most obvious.

Despite battling with two major oil price slumps and an unprecedented 66% cut to Shell’s dividend in April 2020, Van Beurden’s track record looks acceptable. Since Jan. 1 2014, when he took over, Shell shares have returned 67%… He also pulled off the $70 billion purchase of BG Group in 2016, which made it a leading force in liquefied natural gas (LNG). read more

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Shell shareholders miss out on payday under weight of $74bn debt mountain The oil giant has promised more cash for investors – but not until debt has fallen to $65bn (£47bn)

Apr 25th, 2021
by John Donovan.
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Shell shareholders miss out on payday under weight of $74bn debt mountain  

The oil giant has promised more cash for investors – but not until debt has fallen to $65bn (£47bn)

:

Shell shareholders are to be kept waiting for higher dividend payouts as the oil giant labours under a massive debt pile.

The Anglo-Dutch company has pledged to distribute up to 30pc of cash flow to shareholders as soon as its debts come down to $65bn (£47bn), as it tries to keep investors on board while it moves towards lower carbon energy. read more

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As the Shift to Green Energy Speeds Up, Shell’s Big Natural-Gas Bet Is at Risk

Mar 27th, 2021
by John Donovan.
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Shell has written down the value of some of its gas assets, including its Queensland Curtis project in Australia.

As the Shift to Green Energy Speeds Up, Shell’s Big Natural-Gas Bet Is at Risk. The fuel faces growing environmental scrutiny and competition from cleaner energy sources

By Sarah McFarlane: March 27, 2021 5:30 am ET

LONDON— Royal Dutch Shell PLC bet big on natural gas as the energy source of the future when it bought BG Group for $54 billion. Five years later, it appears the gas era won’t last long. read more

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Tunisia faces exodus of Western oil giants

Mar 26th, 2021
by John Donovan.
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Tunisia faces exodus of Western oil giants

By Ron Bousso, Shadia Nasralla: 3 MIN READ: MARCH 26, 2021

LONDON (Reuters) – Royal Dutch Shell and Italy’s Eni are seeking to sell their oil and gas operations in Tunisia, industry sources said, as the North African country struggles to attract new investments following years of political instability.

Shell has hired investment bank Rothschild & Co. to sell its Tunisian assets, which include two offshore gas fields and an onshore production facility the Anglo-Dutch company acquired as part of its 2016 $53 billion takeover of BG Group, the sources told Reuters. read more

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Shell CEO takes pay cut in 2020 for the second straight year

Mar 11th, 2021
by John Donovan.
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Shell CEO takes pay cut in 2020 for the second straight year

By Reuters Staff: MARCH 11, 2021: 8.30 am

March 11 (Reuters) – Royal Dutch Shell’s Chief Executive Ben van Beurden pay package nearly halved in 2020, a year in which the oil major’s profit tumbled because of low oil prices and the COVID-19 pandemic.

Van Beurden, who became CEO in 2014, oversaw sharp growth in Shell’s oil and gas output following the 2016 acquisition of BG Group for $53 billion.

But an unprecedented hit to the energy sector last year, knocked oil prices into negative territory for the first time in history, and forced major players to cut dividend payouts and management pay to weather the storm. read more

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Shell cuts exploration ambitions in Norway, to focus on natural gas

Feb 9th, 2021
by John Donovan.
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Shell cuts exploration ambitions in Norway, to focus on natural gas

By Reuters Staff: 9 February 2021

OSLO, Feb 9 (Reuters) – Royal Dutch Shell will narrow its exploration scope in Norway to focus on natural gas production and possibly offshore wind in future, it told the Norwegian oil and energy ministry.

Shell said in October it planned to reduce its oil and gas operations to nine basins around the world as part of its strategy to reduce the carbon intensity of its operations. It is expected to announce details of its new strategy on Thursday. read more

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Is former BG Group/Shell Exec Sami Iskander carrying any reputational baggage?

Feb 4th, 2021
by John Donovan.
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Is former BG Group/Shell Exec Sami Iskander carrying any reputational baggage?

MESSAGE POSTED BY JOHN DONOVAN ON OUR SHELL BLOG: 4 FEB 2021

POSTED ON BEHALF OF AN INVESTIGATIVE CONTACT:

Newly former Shell executive Sami Iskander has been appointed CEO to London-traded energy company Petrofac, which is facing corruption allegations in Italy and from the U.K.’s SFO.

The question is whether Iskander, who was one of only four executives from British Gas retained by Shell when the two merged in 2015, brings any baggage with him? read more

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Shell mulls former BHP chief as new chairman

Oct 25th, 2020
by John Donovan.
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Shell mulls former BHP chief as new chairman

Harry Banks: Sunday 25 October 2020

Former BHP Billiton boss Sir Andrew Mackenzie is in pole position to become the next chairman of Shell, reports emerged today.

Mackenzie joined the Shell board this month as a non-executive director but is expected to move into the chair soon to be vacated by Charles Holliday.

The Sunday Telegraph first reported the news.

The oil giant was forced into its first dividend cut in more than 70 years earlier this year thanks to the oil price crash and the coronavirus pandemic. read more

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19,000 Shell Jobs Axed During BVD Reign

Oct 2nd, 2020
by John Donovan.
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Shell on Wednesday announced a major reorganization that will see thousands of jobs lost. The last major reorganization dates back to 2016 when Shell cut 10,000 jobs after the acquisition of BG Group.

English translation of an article published by the Dutch equivalent of the Financial Times.

Thousands of jobs at stake in Shell reorganization, not spared

Bert van Dijk

IN BRIEF

Shell on Wednesday announced a major reorganization that will see thousands of jobs lost. The restructuring is also reportedly hitting the top layers of management. The restructuring is needed to reduce costs as oil prices have fallen sharply and the outlook has deteriorated. Shell is also working on it. a new strategy. This will be revealed early next year. read more

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Exclusive: Shell launches major cost-cutting drive to prepare for energy transition

Sep 21st, 2020
by John Donovan.
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Exclusive: Shell launches major cost-cutting drive to prepare for energy transition

By Ron Bousso: SEPTEMBER 21, 2020

LONDON (Reuters) – Royal Dutch Shell is looking to slash up to 40% off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power markets, sources told Reuters.

Shell’s new cost-cutting review, known internally as Project Reshape and expected to be completed this year, will affect its three main divisions and any savings will come on top of a $4 billion target set in the wake of the COVID-19 crisis. read more

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Big Oil’s patchy deals record casts shadow over green makeover

Sep 1st, 2020
by John Donovan.
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Big Oil’s patchy deals record casts shadow over green makeover

When Shell bought BG Group for $54 billion in 2016 in the midst of the price crash, Chief Executive Ben van Beurden made a compelling case to investors…: Speaking in July, Shell’s CEO stood by the deal. “The company did get stronger, but indeed the company was not able to withstand the onslaught of COVID if we wanted to adopt a prudent stance … I remain convinced it was the right move,” van Beurden told reporters. read more

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Shell CEO Ben van Beurden insists he doesn’t run an oil company any more

Jun 9th, 2020
by John Donovan.
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By Akshat Rathi and Laura Hurst: 9 JUNE 2020

Royal Dutch Shell Plc had been turning out about 2.7 million barrels of oil each day until the novel coronavirus took hold of the world. Demand for oil, the company’s core product, dropped almost a third in April, and the price of West Texas Intermediate briefly dipped into negative numbers for the first time.

It’s not easy to run an oil major when people suddenly stop needing oil. Chief Executive Officer Ben van Beurden responded by slashing spending and cutting Shell’s dividend for the first time since World War II. And, as critics warned, the company remains saddled with debt from its $53 billion acquisition of BG Group in 2015. read more

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Shell needs to consider Van Beurden succession

May 5th, 2020
by John Donovan.
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English translation of an article published today by the Dutch FT

Shell needs to consider Van Beurden succession

From our editor

CFO Jessica Uhl and CEO Ben van Beurden before the start of the Shell Shell shareholders’ meeting in Scheveningen last May. Photo: Piroschka van de Wouw / Reuters

In brief

  • Investors say in the Sunday Telegraph that Shell should reflect on the position of its top man.
  • The British newspaper published a story based on anonymous sources.
  • Shell is struggling: last week, the dividend was cut for the first time in decades.

One of Shell’s largest shareholders has suggested that the oil and gas company should start thinking about succeeding CEO Ben van Beurden, the day after Shell reduced its dividend for the first time since World War II. That writes the Sunday Telegraph. The British newspaper has spoken to two investors from the top 20 largest shareholders, one of which says it is time for a ‘changing of the guard’. read more

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OilPrice.com: The LNG Market Is “Imploding”

Apr 28th, 2020
by John Donovan.
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Nick Cunningham Oilprice.comApril 28, 2020

While everyone is understandably watching the meltdown in the crude oil market, the global market for natural gas is also cratering.

At least 20 cargoes of U.S. liquefied natural gas (LNG) have been cancelled by buyers in Asia and Europe, according to Reuters. The global pandemic and the unfolding economic crisis have slashed demand for gas worldwide. Cheniere Energy, one of the main exporters of U.S. LNG, has seen an estimated 10 cargoes cancelled by buyers halfway around the world, Reuters said. read more

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