News and information on Shell Plc
Cairn Energy fell 7 per cent , BG lost 5 per cent and BP 4.6 per cent as the latest poll of analysts predicted a sharper contraction in demand for oil this year than expected two months ago as the world economy slips into recession.
A Reuters poll of 10 banks predicts an average decline in demand of 430,000 barrels per day this year to 85.43 million barrels, compared to a fall of only 20,000 expected in November, which would mirror the 2008 decline.
Shell fell 3.4 per cent as HSBC analysts predicted it was in for a cash squeeze. It said that its operating cashflow would fall by about 16 per cent from last year of $7 billion while its capital expenditure would rise by $3 billion, giving it negative cash flow this year and next, although it said that its strong balance sheet should be able to take the strain and it maintained an “overweight” advice on the shares.
The fear is that the oil price will never recover to the heights it reached last summer as consumers switch to smaller more fuel efficient cars and the proportion of renewable energy consumption increases.
The possible need for cash for oil companies was also highlighted by Tullow Oil, which announced a £400 million share placing to help it to secure a refinancing of its debt to bring its Jubilee oil field off Ghana into production.
Tullow gained 5 per cent as analysts said that a refinancing deal now looked almost certain to be agreed.
Banks continued to dive on fears of nationalisation with Barclays taking the strain today, off 20 per cent at 58.5p, amid reports that investors were demanding an early trading statement. Lloyds was down 12.5% and RBS, which bore the brunt of selling on Monday after its profit warning was actually up 7 per cent at 11p.
ICAP, the interdealer broker, lost 6 per cent after going ex-dividend.
Posted in: BP, Oil, Royal Dutch Shell Plc, Shell, The Times.
Tagged: BP · Oil · Royal Dutch Shell Plc
Sir Henri Deterding, the controversial and outspoken founder of Royal Dutch Shell, now haunts the website. Wise to all the knowledge of Shell, and its shellanigans, he delivers informative and satirical insight to anything about Shell. He's a grumpy old sod, so you'll have to excuse his bluntness.
Click the big chat-bubble (bottom-right of the website) to ask Sir Henri a question. Enjoy!





The worst ever
I used shell broadband. It was by far the worst broadband provider ever! The internet did not work most days. I had their super fast broadband and it dropped out constantly. Watching a movie was awful with the constant buffering. Customer support was super slow. Now their going to charge me for the useless router which I have sent back.
Date of experience: 21 November 2023
The worst ever
I used shell broadband. It was by far the worst broadband provider ever! The internet did not work most days. I had their super fast broadband and it dropped out constantly. Watching a movie was awful with the constant buffering. Customer support was super slow. Now their going to charge me for the useless router which I have sent back.
Date of experience: 21 November 2023
Broadband Service is Appalling
I ordered shell energy broadband on nov 2. I was promised connection the following week. They initiated the direct debit. I called the following week and was told router would arrive on 13 and service would go live on 17. No further email or communication until 20 when I was told service would start on 30th. Spent 10 minutes waiting on phone line and spoke to a polite assistant who was absolutely useless in solving my problem. Avoid this unprofessional and chaotic… Read more
30 November 2023: Posted by John Donovan
The content below is sourced from current verifiable customer reviews of Shell Energy published on Trustpilot.
Extremely slow broadband for 10 months, not fixed. I have had slow broadband well below the guaranteed speed for 10 months and Shell Energy have not been able to fix it. They have tried sending about 4 or 5 engineers but have not fixed the problem. Gurps, who I have been dealing with most recently, has been friendly and polite, alth… Read more

See our link list of over 500 articles by the FT, Wall Street Journal, Reuters, Bloomberg, Forbes, Dow Jones Newswires, New York Times, CNBC etc, plus UK House of Commons Select Committee Hansard records, information on U.S. Securities & Exchange Commission website etc. all containing references to our Shell focussed websites, or our website founders Alfred and John Donovan. Includes TV documentary features in English and German, newspaper and magazine articles, radio interviews, newsletters etc. Plus academic papers, Stratfor intelligence reports and UK, U.S. and Australian state/parliamentary publications, also citing our Shell websites. Click on this link to see the entire list, all in date order with a link to an index of over 100 books also containing references to our non-profit websites and/or our activities.

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