News and information on Royal Dutch Shell Plc
For a while yesterday it looked as if the market was going to damn BPs results with faint praise. Analysts chose to fret about the Q4 loss a consequence of the falling oil price and a colossal tax bill in Russia until a soothing lunchtime conference call sparked a modest rally in the share price.
This was a reasonable response, for at least one of those factors is only short term. The tax hit was due entirely to booming crude prices earlier in the year, but future bills will not be so lumpy, since Russias tax authorities now plan to determine the rate on a monthly, rather than a quarterly, basis.
The outlook for crude prices is rather more problematic, with little hope of a recovery in 2009, in spite of some signs that demand may not fall much further and the fact that Opec is sure to keep a tight grip on supply in coming months.
The underlying picture, those factors BP can influence, is cheerier. Production in the last three months of 2008 was the best since the second quarter of 2006 with the Texas City refinery running again and the Thunder Horse platform in the Gulf of Mexico going well. Likewise, BP had a good 2008 in terms of exploration, while 2009 will also see all reserves replaced. The company also has a lower breakeven crude price than rivals, whom it outpaced in cutting costs heading into this downturn.
Despite all this, BP shares still trade at a big discount to those of Royal Dutch Shell, which must cause Tony Hayward, chief executive, concern. Here we come back to crude prices. The market doubts whether, if crude remains this low, the dividend is sustainable. BP is sufficiently lightly geared for this not to be a problem, but investors with long memories recall it remains the most recent oil major to cut its dividend albeit back in the recession of 1992.
Mr Haywards predecessor, Lord Browne of Madingley, was frequently castigated by small investors for paying BPs dividends in dollars, particularly in 2002, when the pounds strength against the greenback meant the payout, while rising in dollar terms, actually fell in sterling terms.
Today the strength of the dollar means that, in sterling terms, BP shares offer a prospective yield of more than 8 per cent. Assuming that the payout is held this year, which looks likely, that makes them a roaring buy.
Posted in: BP, Oil, Oil Company Profits, Oil Prices, Royal Dutch Shell Plc, Shell, The Times.
Tagged: BP · Shell
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Customer services is a complete joke: Shell So So Poor
After a prolonged shambles dealing with this company, I'm glad I've switched over to another provider.
The customer services is a complete joke.
An e-mail received on the 6th September 2023 stated that my refund, would in my account within 10 working days. I called today to chase up the the 1st person that took the call took my details, I told her the issue, then the phone went dead. I completed the aftercall telephone questionnaire regarding the level of service, extremely poor. The 2nd person advised me this would be done within the next 48 hours. And his step away attitude wasn't particularly helpful. Personally I believe this is a disgusting level of customer care, and I would like to know which person is responsible, because this is why I'd never recommend Shell to anyone.
If shell do contact me please e-mail
Date of experience: 22 September 2023
Just awful: Just awful. They can’t justify all of the extra charges they slap on, despite hours and hours of conversations and basically just say tough, pay it. Had an agreed payment plan with them and then they just took the whole amount in one go. Disgusting company. Avoid at all costs. Oh and the reply below basically just says they’ll try to contact you within 48hrs. It’s just all a pr stunt. Actual business is rotten to the core. Date of experience: 21 September 2023
Shell energy are woefully inept: Shell energy are woefully inept at proving a proper service I can't give 0 stars or I would, I can't pay my energy prepay bills no matter how I try. No paypoint cards supplied in nearly 2 months & the shell energy App doesen't work, it takes my money & it disappear's into the ether until my bank returns it 10 days later. The most woefully poor service I've had from any company in 35 years. Date of experience: 19 September 2023
Broadband installed but wont work on PC…: Broadband installed but wont work on PC have spent over 2 hours on 2 occasions with tech support. Charming and polite however!! Problem not resolved Date of experience: 19 September 2023
Biggest bullies and scammers I've ever…: Biggest bullies and scammers I've ever come across. They tried to bully me into paying a massive bill when we moved into our new home, I refused and asked them to review...I had to go as far as processing 3 x complaints. However, in the meantime they kept sending threatening letters, they reported against my credit file and
eventually after threats of ombudsman etc they reviewed everything and admitted their mistake
and adjusted the actual figure from when I moved into the house...which was massively different. All the while, refusing to correct my credit file and a couple of weeks later (before I even had the new and adjusted bill) they processed missed payments against my file. We're now taking it legal against them
Date of experience: 16 March 2023
Useless Broadband and customer service: SOOOO shocking, customer service useless and very unhelpful. Kept loosing connection and used all my data up as phone kept leaving the WIFI. They offer a cooling off period of 2 weeks but that 2 weeks is the start up process so its too late once you realise how useless it is. For a global brand we have a very Micky mouse service. We have wasted hours and hours trying to get this sorted and the saga still continues.
AVOID AT ALL COSTS
Date of experience: 16 September 2023
The worst of the lot!: Will never go with this company again. Absolute nightmare and utterly horrid people to deal with. Funny how all their positive 5* reviews mention a specific agent's name. Not sure I have seen more obviously fake reviews in my life - they can't even get that right. Rates are not competitive. No response to complaints, endless errors even for the most basic of tasks, said no account with given number despite having forwarded them the Shell email confirming account no, data leaks - and all this within just a few days of dealing with them. I could not have switched out faster. Octopus Energy = so far amazing! Know what they're doing and do not drain energy and time from its customers. Date of experience: 14 September 2023
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