Royal Dutch Shell PLC shows much that is wrong with environmental, social and governance investing. The Anglo-Dutch company was the first to target reduced carbon emissions from customers, has gone further than any of the other oil supermajors to shift its direction away from fossil fuels and is closest of any of them to meeting the Paris carbon target. It even has a better ESG score than electric-car leader Tesla or hydrogen wonder stock Plug Power.read more
The demand by the activist hedge fund manager Daniel Loeb that the oil giant Shell split itself into its fossil fuel and green energy units this week certainly came with plenty of grandiose promises. Loeb, and his Third Point fund, want to save the planet, and make themselves a bundle of money at the same time. Smart.read more
Within days I seem to have lost both titles to a billionaire upstart, Daniel Loeb, who seems intent on breaking up Shell.
From my unique perspective on Shell senior management over recent decades, he is right to question competence and direction.
How has Shell ended up with a foe (me) operating a website using the top-level domain name royaldutchshellplc.com and as a consequence dealing on Shell’s behalf with job applications and all manner of other email correspondence meant for Shell? This is the humiliating situation Shell has been in since 2005. Evidently, no one at Shell has had the gumption to do anything to put an end to such a farce.read more
Oct 31st, 2021
by John Donovan.
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FROM A MAJOR ARTICLE ON TWO-THIRDS OF PAGE 8 OF THE SUNDAY TIMES BUSINESS SECTION OCT 31, 2021
How should Shell, Glencore and British American Tobacco deal with their “toxic” legacy businesses?
Robert Watts: Sunday October 31 2021, 12.01am, The Sunday Times
Ben Van Beurden knew last weekend that he was facing one of the more trying weeks of his 38 years at Shell. But he still had no clue of the impending ambush being prepared by an American billionaire activist investor.
Shell’s chief executive knew the quarterly figures for the oil and gas giant he would unveil on Thursday would be bad. Profits between July and September came in at $4.1 billion (£3 billion) — well below the $5.4 billion expected and 25 per cent down on the previous quarter.read more
Oct 31st, 2021
by John Donovan.
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The Washington Post
Big Oil’s Friday Feeling Will Pass
By Liam Denning | Bloomberg: 30 Oct 2021
Extracts
The inverse of the world’s anxiety about winter energy shortages is higher prices, portending a good fourth quarter to follow. As an added bonus, it provides a schadenfreude-inflected counterargument on days like Thursday. Exxon CEO Darren Woods mentioned it in his opening remarks to the House Oversight Committee to emphasize the difficulty of moving away from fossil fuels.
As an added added bonus, one of those oil majors moving a bit more quickly than most, Royal Dutch Shell Plc, has attracted the attention of an activist, Third Point LLC’s Dan Loeb, calling for it to split its green operations (plus gas) from its old oil business.read more
Oct 30th, 2021
by John Donovan.
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The Observer: Shell and BP paid zero tax on North Sea gas and oil for three years
Jon Ungoed-Thomas: Sat 30 Oct 2021 20.15 BST
Shell and BP, which together produce more than 1.7bn tonnes of greenhouse gases a year, have not paid any corporation tax on oil and gas production in the North Sea for the last three years, company filings reveal.
The oil giants, which have an annual global footprint of greenhouse gases more than five times bigger than Britain’s, are benefiting from billions of pounds of tax breaks and reliefs for oil and gas production.read more
Activist investor Dan Loeb made headlines this week with his move (through his Third Point LLP) to take a stake in Royal Dutch Shell and then argue that it should be broken up into two entities.
His proposal is to spin out what he calls the “legacy business” and an “energy transition business” (the latter to include LNG, renewables, and energy marketing). His argument is that the company is currently satisfying few stakeholders (shareholders, ESG advocates, etc) by trying to do everything under one roof.read more
Oct 29th, 2021
by John Donovan.
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REUTERS
Third Point set to play long game in pressuring Shell
By Svea Herbst-Bayliss:
Oct 29 (Reuters) – When investors saw Daniel Loeb’s Third Point LLC unveil a stake in Royal Dutch Shell (RDSa.L), some were quick to make the comparison to Exxon Mobil Corp (XOM.N), whose board was challenged this year by another hedge fund, Engine No. 1.
Yet Third Point plans to follow a different tack, according to people familiar with its plans. It has not put forward any board nominees or threatened the chief executive’s job and there are no immediate plans to do so, the sources said.
Instead, the $19 billion fund outlined its suggestions to Shell in a letter to its own investors, making for a low-key introduction of its hopes for the $190 billion oil company.
Third Point’s founder, billionaire investor Daniel Loeb, wants the Anglo-Dutch company to separate its oil and gas business from its renewable-energy and liquefied-natural-gas operations.read more
Oct 29th, 2021
by John Donovan.
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Bloomberg
Shell Breakup Would Get It Out of ‘Strategic Jail,’ Analyst Says
Royal Dutch Shell Plc should use an activist investor’s push to break up the company as an opportunity rather than a threat, according to analyst Paul Sankey.
“We put it to Shell management: This is your chance to get out of strategic jail!” Sankey wrote in a note Thursday. “Blame the mean N.Y. Hedge Fund for forcing your hand, and use this opportunity for radical change.”
He added that Shell could be split four ways: LNG-to-power, refining and chemicals, a Shell-branded gas station business, and a conventional oil and gas producer…read more
On the eve of a pivotal global climate summit, the world’s oil giants have been swamped by calls from activists, investors and lawmakers to move faster to transform their businesses, cut down greenhouse gas emissions and take responsibility for their role in the climate crisis.read more
Gretchen Watkins, president of Shell Oil, would not concede under questioning that climate change poses an “existential threat” to the nation and the world, even as the oil company rolled out a new pledge to cut planet-warming emissions early Thursday.
“I agree climate change is one of the biggest challenges in the world today, which is why at Shell, we’re in action,” Watkins said.read more
Oct 29th, 2021
by John Donovan.
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CNBC
Shell vs. Dan Loeb: It’s open season for the market on Big Oil’s future
PUBLISHED THU, OCT 28 20213:00 PM EDT UPDATED THU, OCT 28 202111:07 PM EDT
Eric Rosenbaum@ERPROSEKEY POINTS
Dan Loeb’s Third Point Management has begun another high-profile activist campaign this time against Big Oil, calling for the breakup of Royal Dutch Shell into a legacy oil and gas company and separate business for renewable energy, among other units.
The Shell battle is at the heart of how an energy giant of the future shapes its business model during the energy transition and balances higher return fossil fuel projects with clean energy investment.
Former BP CEO John Browne said at the CNBC ESG Impact summit on Thursday that oil companies are now speaking the right language about carbon reduction, but the plans have no real meaning yet.
The surprise win earlier this year by activist firm Engine No. 1 of board seats at Exxon Mobil was a watershed event in Big Oil’s ability to control the climate narrative as investors push for change. But the stake revealed this week in Royal Dutch Shell by Dan Loeb’s Third Point Management activist investor firm may say more about how energy giants balance business models in the future to hang on to higher return, cash-generating legacy fossil fuel projects while investing in renewable energy.read more
“We were told that we were not welcome, so we will not be there,” Ben van Beurden, the company’s chief executive, said yesterday in comments that provoked debate about whether such companies should have a seat at the table in climate talks.read more
Corporate raider Dan Loeb’s plot to break up Shell risks harming its efforts to tackle climate change, top investors have warned, in a sign he may face a struggle to win over the City.
The pugnacious Third Point founder, 59, has argued the FTSE 100 company should split its oil and renewable assets into separate businesses to both drive better returns and greater investment, and stop trying to be “all things to all people”.read more
Oct 29th, 2021
by John Donovan.
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Ben van Beurden… “It’s disappointing that long-term investors run away from a company leading in its field and trying to do the best for society, but we understand the symbolism.”
London Evening Standard
Shell fires back at investor attack branding Dan Loeb’s break-up calls “symbolism
By Simon Freeman: 28 Oct 2021
SHELL boss Ben Van Beurden today mounted a forthright defence against calls to split up his company, saying profits from its oil and gas operations will be vital in funding the transition to a low-carbon future.read more
ROYAL Dutch Shell boss Ben van Beurden has defended plans for the controversial Cambo oil field development off Shetland as he declared the UK North Sea is a global leader in terms of the energy transition.
Shell has faced huge criticism from campaigners after it emerged that the company planned to develop the massive Cambo field with Siccar Point Energy.read more
Shell mucked up everything: Worst Company EverI used to be with Post Office broadband, had the unfortunate situation to be sold to Shell, mucked up everything about swapping over, meant to have caller Id for personal reasons did not happen, another muck up cannot get through to customer lack of service had to cancel DD to hopefully get resolution but will impact my credit rating, do not use this company awful.
Thank you for your reply but I am not prepared to wait the usual 50 minutes to try to get through to your customer line, sure it helps your profits.
I have to work to pay my bills and calling during work hours is not appropriate, to prove your excellent customer service, tongue in cheek sort my caller Id within 24 hours lol, also guarantee no interruption in service and my credit rating won’t be impacted I might change my mind
After leaving a previous negative review about how bad shell energy is Shell replied asking for my account number so that they could investigate..so l did provide it however l haven't heard a thing from them. This was a number of months ago and yet again another example of how poor Shell is. Absolutely shocking service.
Shell Broadband charged me £108 to cancel when my mum died because the account was in my name. Then they kept adding more charges even though their email said no extra fees would be added. 1hr 32mins to cancel the service & passed to 4 different departments - it was as if no one had ever been bereaved before. Then no reply to my email via their online help, followed by over 1 hr on their online chat. I would avoid Shell Broadband.
So after 7 months I still haven’t got my account sorted with shell, I have rang so many times to try and get it sorted and just get fobbed off every time!! Finally got a settlement figure off them of £900 odd and said I will contact another energy company to get swapped over, check our account today and my settlement figure has gone from £900 to now £1900 with in a week!!!
Iv asked to speak to a manager a number of time and get told they are in a meeting they will call you back, guess what not once have they rang me back!!
How they government allow companies like this to treat there customers they way iv been treated is a joke.
Do not sign up with these clowns you will regret it I promise, iv had nothing but sleepless night over the last month worrying about the price increase and they clearly don’t give a dam about how this is effecting me.
Is it to much to ask for a company to do the right thing and get an issue resolved as soon as possible not 7 month down the line, although this still isn’t sorted
Have spent nearly 3 hours today trying to get an overpayment issue resolved. Long waiting times (30 to 40 mins) then have spoken to 4 different people who have 1. cut me off, 2. put me on to another person who knows nothing about what I have just spent 10 minutes discussing, 3. put me on hold while reading the file (gave up waiting after 30 mins) and 4. said he would put me through to the right person within 3 minutes but didn't. I despair!
This firm run by a complete incompetent…: This firm run by a complete incompetent have 0 customer care
Jodie Eaton hides like a frightened mouse behind automated phone lines that ur on forever so she doesn't have to be held for her mass company incompetence another grossly overpaid corporate Head miss charging customers. Contact me if you got the guts Jodie
Took them over three months to correct an error in my bill. Ignored my emails throughout and only corrected it after many phone calls. I'm now trying to get a refund from them in the form of a cheque. They keep sending the cheque to the wrong address despite my phoning them up 4 times and giving them the right address. Genuinely the worst company I've ever dealt with in terms of customer service. What makes it worse is I never chose to use them and was transferred to them after Green Energy collapsed. Will never use them again once I receive my refund.
Not only are they ripping me off with illegal energy price rises covered up by accounting for them as near doubling of the standing charge. But they are now antagonizing me further with pathetic customer service. I can download my latest bill but its corrupted so I can't read it. So I have to contact customer services. Firstly I tried the online chat and was connected to an idiot bot then left hanging for ages and gave up and decided to call. Their phone system must have been designed by a moron who wants to antagonize me as much as possible with menu after menu after menu before not connecting me to a human but leaving just hanging on until I finally gave up. Why don't Shell try spending some of their obscene earnings on looking after their customers?
I have just tried emailing them from their website, its another total disaster area where it blocks my trying to send an email by forcing me to pick a totally unconnected topic from a drop down menu, which then starts me off on another totally unconnected route. Morons!!!!
Passed to shell energy from pure planet. Didn't transfer over credit, unhelpful call centre staff, horrible call centre waiting times blamed on covid but obviously understaffed.
If I could give minus 5 stars i really would. I didnt ask to join shell energy, sadly i was transferred over from green energy. The new rate for electricity set by ofgem is 28p
per kwh, shell have decided for what ever reason to charge me 31.5 pence per KWH. Goodbye Shell energy.
Was moved to Shell energy kept getting estimated bills despite assurances that they could read my meters even complaints team misled me by saying we can read both your meters, then another overestimated bill today. When I called them was told can't read your meter. This has been going on for ages. Appalling service
Listen and read proof in audio and transcript form of Shell CEO Ben van Beurden’s cover-up tactics in the OPL 245 Nigerian corruption scandal. The instruction given by him in the covertly recorded call to CFO Simon Henry was at odds with Shell’s claimed core business principles. Cover-up and obstruction, instead of transparency and integrity, says Shell critic John Donovan
JOHN DONOVAN TV DOCUMENTARY INTERVIEW
SHELL EXECUTIVES AT THE CENTER OF A SCHEME TO STEAL $1.3 BILLION FROM NIGERIA’S PEOPLE
SHELL ADMITS DEALING WITH NIGERIAN MONEY LAUNDERER – BBC NEWS
SHELL, ENI AND NIGERIAN OFFICIALS IN OPL 245 CORRUPTION SCANDAL
INVESTIGATION OF OPL 245 NIGERIAN OIL CORRUPTION SCANDAL
DUTCH EARTHQUAKES CAUSED BY SHELL/EXXON
SHELL KILLS FOR OIL IN NIGERIA
ESTHER KIOBEL SUES SHELL FOR COMPLICITY IN HUSBANDS MURDER
ESTHER KIOBEL: EVIL OIL GIANT SHELL COLLUDED IN THE EXECUTION OF MY INNOCENT HUSBAND
SHELL LIED ABOUT CLEANING UP OIL IN NIGER DELTA
SHELL SPIES INFILTRATED NIGERIAN GOVERNMENT
LEGO DROPS SHELL OVER GREENPEACE OIL SPILL VIDEO
SHELL ARCTIC DRILLING ACCIDENTS
SHELL KNEW ABOUT CLIMATE CHANGE DECADES AGO
ABANDONED BY SHELL: KEITH MACDONALD & FAMILY, VICTIMS OF RADIOACTIVE CONTAMINATION AT WORK
ROYAL DUTCH SHELL FOUNDER SIR HENRI DETERDING, NAZI FINANCIER
JOHN DONOVAN PROMOTIONAL GAMES FOR SHELL AND OTHER CLIENTS
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.
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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 websiteetc. 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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