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An Activist Hedge Fund Wants to Break Up Shell Oil
The oil industry has a spill, and the leaky commodity is drama. Less than six months after an activist hedge fund planted itself on Exxon’s board…
News and information on Shell Plc
The Motley Fool
An Activist Hedge Fund Wants to Break Up Shell Oil
The oil industry has a spill, and the leaky commodity is drama. Less than six months after an activist hedge fund planted itself on Exxon’s board…
The oil industry has a spill, and the leaky commodity is drama.
Less than six months after an activist hedge fund planted itself on Exxon’s board with plans to overhaul the company’s climate agenda, New York-based Third Point revealed on Wednesday its plans to slice up Royal Dutch Shell by carving off its renewables businesses.
Third Point, helmed by skilled spinoff veteran Daniel Loeb, has taken a $500 million stake in Shell, making it one of the Dutch-British energy giant’s biggest investors.
The hedge fund’s first order of business, relayed in a letter obtained by The Wall Street Journal, proposed splitting Shell into two companies: one containing its profitable-but-toxic oil and gas businesses, and the other consisting of its money-losing but environmentally friendly renewables businesses. The move adds to the immense pressure on the gas company:
Dry Well: Global oil and gas investment, which has been falling for years, will tumble 26% from pre-pandemic levels to $356 billion this year, according to the International Energy Agency. Meanwhile, renewable energy investments rose 1.8% to a record $174 billion in the first half of 2021, according to BloombergNEF.
Drilling Times: Engine No. 1, the activist hedge fund that won three seats on Exxon’s board in May and is now pushing it to dump major oil developments, invested just $12.5 million, and then built allies with major institutional investors like BlackRock. Third Point is starting with way more clout and its plans aren’t unheard of — Italy’s Eni and Spain’s Repsol are considering breaking off their renewables divisions.
Posted in: Big Oil, Business ethics, Business Principles, Carbon Capture, Climate Change, Environment, Exxon Mobil, Fossil Fuels, Gas, Greenhouse gas, Greenwashing, Litigation, Oil, Royal Dutch Shell, Royal Dutch Shell Plc, Shell, Shell Energy, Shell Greenwash, Shell Oil Company, Sin Stocks.
Tagged: Alternative Energy · ConocoPhillips · Environment · ExxonMobil · Gas · Litigation · Royal Dutch Shell Plc · Shell
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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
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
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