Massive losses should be a warning to big oil that its bonanza is over
Covid has battered the industry, and the race for renewables is speeding up. We are at a tipping point
Sun 7 Feb 2021 07.00 GMT
The final months of 2020 were a tough end to a tough year, according to BP’s chief executive. But Bernard Looney’s verdict on the worst financial year in the industry’s history is a devastating understatement. It was a period marked by thousands of job cuts, battered dividend policies and record multibillion-dollar losses.
Shell capped a year in which it slashed its dividend for the first time since the second world war with a debit of almost $20bn. Shell is accelerating its move into electric vehicle charging, and all seem enamoured by the potential for a hydrogen economy.
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.
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
