Shell chief to receive compensation for loss of office
THE outgoing chief executive of oil and gas giant Shell is to receive a year’s salary by way of compensation for loss of office.
Ben van Beurden will receive £1.42 million when he steps down at the end of this year, which is to be paid in six instalments. Shell said outstanding payments will be reduced by 50 per cent if he secures a paid position, excluding non-executive directorships, in that time.
The company also said that Mr van Beurden will continue to receive his base salary until the end June next year. The London-listed Anglo-Dutch energy giant said that a pro-rated annual bonus in relation to performance year 2023 will be determined by Shell’s remuneration committee after June next year.
It said 50% of any bonus awarded will be delivered in shares which are subject to a three-year holding period that remains in force after Mr van Beurden leaves Shell’s service.
Shell said the 2021 and 2022 long term incentive awards will be reduced to reflect the portion of the performance period that has elapsed to June next year.read more
Shell’s outgoing CEO to get full-year salary as compensation for loss of office
Fri, October 28, 2022 at 11:44 AM
(Reuters) – Shell’s outgoing Chief Executive Ben van Beurden will get one-year base salary of 1.42 million pounds ($1.64 million) as compensation after leaving the position at the end of the year, the oil giant said on Friday.
The payment will be done in six equal monthly instalments between July 1 and Dec. 31, 2023.
The company said the outstanding payment for loss of office will be halved if van Beurden gets a paid position, excluding non-executive directorships, during the payment period.
Shell also said the Dutchman will continue to receive his base salary until June 30, 2023.
The company last month picked Wael Sawan to replace van Beurden, who is stepping down after nearly a decade at the helm and 40 years at Shell.read more
Shell’s chief executive Ben van Beurden has said he regretted not acting earlier on two problems linked to the environment, as he prepares to step down after nearly a decade in charge.
Mr van Beurden said he should have acted in 2015 on data coming out of the Groningen gasfield in the Netherlands.read more
New analysis has found that over the past twelve months, energy giant Shell has generated a staggering £31billion in excess profits. This has prompted fury among critics, as millions of Britons face unprecedented energy bill hikes, crippling inflation and a major cost of living crisis. Today, Shell has announced profits of £8.2billion for the third quarter of this year. The business said it made adjusted earnings of $9.5billion US dollars over the three months down from $11.5billion (£9.9billion) the quarter before. According to Global Witness, which conducted the analysis, this profit earned by the energy giant was in addition to the profits that they would make in a normal year.read more
Shell pays no UK windfall tax despite profits jump
By Michael Race: Business reporter, BBC News: 27 Oct 2022
Shell has reported its second highest quarterly profit on record but it has not paid the UK’s windfall tax on energy firms.
The energy giant said global profits reached $9.5bn (£8.2bn) between July and September, compared to $4.2bn during the same period last year.
However, Shell said that because it had made large investments in the UK, it meant it had made no profit here.
It also does not expect to start paying windfall taxes until early next year.
The Energy Price Levy – or windfall tax – on the profits of energy firms was announced by Rishi Sunak in May, when he was chancellor. At the time he said it would raise £5bn in its first year.read more
Biden says Shell is misusing its profits by not cutting gas prices
SYRACUSE, N.Y. (Reuters) – U.S. President Joe Biden blasted Shell plc on Thursday for funneling profits to shareholders rather than lowering gas prices, after the British oil giant said it would boost its dividend and buy back shares.
Shell earlier on Thursday said its third-quarter profit was a near-record $9.45 billion, as it sharply boosted its dividend by 15% and announced plans to buy $4 billion more of stock over the next three months.read more
Shell yet to pay any extra windfall tax, bosses confirm
Oil giants were hit by an extra windfall charge in May this year, but they could get around it by investing more in the UK.
By August Graham: 27 Oct 2022
Oil giant Shell has avoided paying any extra windfall tax despite making record profits so far this year as the business said it was investing heavily in the North Sea.
The company said that it does not expect to pay any extra tax this year due to the Government’s decision in May to put a windfall tax on North Sea oil and gas producers.
Finance boss Sinead Gorman told reporters on Thursday that the company had done enough over recent months to avoid the tax – which allowed companies to get tax relief in exchange for investment.
“Heavy capex (capital expenditure) has meant that we haven’t had extra tax coming through in this quarter yet,” she said.
“I do expect to see that extra tax … to happen quite early in the first quarter of 2023, but we’ll see what plays out with prices as well.”read more
Shell in talks with Government as ministers consider new windfall tax
Oil and gas giant did not pay any tax in Britain, despite an existing windfall scheme
By Rachel Millard: 27 October 2022 • 5:48pm
Shell is in talks with the Government as ministers consider a fresh windfall tax on oil and gas companies to help fill a £35bn black hole in the public finances.
Ben van Buerden, chief executive of the oil and gas giant, said he accepted the case for higher taxes after the industry was boosted by surging fossil fuel prices following Vladimir Putin’s invasion of Ukraine.read more
Installation engineer turned up, didn’t connect my Internet then left. Only for me to find out, absolutely nothing had been done to set my Internet up. I had to call and try and find out what was going on, only to be left on hold for 25 minutes after talking to a team member then hung up on.Followed by an email saying I will need to reschedule. Thats definitely not ho you apologise! I won’t be giving you any money if your customer service is this atrocious for new customers, I’d hate to think what it would be like if I had any issues!
0/10, couldn’t even set my Internet up. No customer support, poor engineers and absolutely zero communication.read more
Shell Energy Broadband Reviews recently posted on broadband.co.uk
27 Oct 2022
Reviewer Stephen Essex: Location Essex: Date 2022-09-30
Comments
The most appalling customer service.If nothing goes wrong with your bills then they are fine. But if you need to get something corrected (their errors) it is incredibly bad. Slow to answer, calls get cut off, promises made are not kept. I have spent HOURS on the phone trying to get their errors corrected. AVOID LIKE THE PLAGUEread more
Shell announces commencement of a share buyback programme
Shell plc:
Shell plc (the ‘company’) today announces the commencement of a $4 billion share buyback programme covering an aggregate contract term of approximately three months (the ‘programme’). The purpose of the programme is to reduce the issued share capital of the company. All shares repurchased as part of the programme will be cancelled. It is intended that, subject to market conditions, the programme will be completed prior to the company’s Q4 results announcement, scheduled for February 2, 2023.
The company has entered into an arrangement with a single broker consisting of three irrevocable, non-discretionary contracts, to enable the purchase of ordinary shares on both London market exchanges (the London Stock Exchange and/or on BATS and/or on Chi-X) (pursuant to two ‘London contracts’) and Netherlands exchanges (Euronext Amsterdam and/or on CBOE Europe DXE and/or on Turquoise Europe) (pursuant to one ‘Netherlands contract’) for a period up to and including January 27, 2023. The aggregate maximum consideration for the purchase of ordinary shares under the London contracts is $2 billion and the maximum consideration for the purchase of ordinary shares under the Netherlands contract is $2 billion. Purchases under the London contracts will be carried out in accordance with the company’s authority1 to repurchase shares on-market and will be effected within certain contractually agreed parameters. Purchases under the Netherlands contract will be carried out in accordance with the company’s authority1 to repurchase shares off-market pursuant to the off-market share buyback contract approved by its shareholders and the parameters set out therein.read more
Energy giant Shell has already made £31bn in excess profits over past year
Analysis of Shell Q3 profits shows their 12 month windfall profits could pay for 12.5 million UK energy bills
27th October 2022, London – UK-based fossil fuel giant Shell has made £31 billion in excess profits over the past twelve months, while Brits have seen energy bill hikes drive an acute cost of living crisis, according to Global Witness analysis of the company’s third quarter profits reported today.
This is money Shell has made in addition to their “normal,” but already high, profits, and was spurred by high global energy prices. See notes for full methodology. It could pay for:
The energy bills of 12.5 million British households, or
Almost half of the £68 billion the government needs to help its citizens with high energy bills, or
Heat pumps for 2.1 million UK homes, that would protect families from energy price volatility, or
The energy bills of everyone on universal credit; plus emergency aid for all 19 million Yemeni’s caught in one of the world’s worst humanitarian disasters; plus emergency shelter for all of the victims of Pakistan’s climate crisis caused floods – and still leave £17.1 billion in excess profits for Shell’s shareholders. (2)
These extraordinary windfalls come as Shell announced overall adjusted earnings of $9.5 billion this quarter, a slight drop from its record last quarter, but much higher than the company has averaged in recent years. This at a time when the UK government debates how best to support its citizens through a cost-of-living crisis that could see 3 million more British people – and 30 percentage of all UK children (3) – living in poverty from next year.read more
The oil giant also announced Thursday a new share buyback program.
It also revealed plans to increase its dividend per share by around 15% for the fourth quarter 2022.
The group’s results come soon after it was announced CEO Ben van Beurden will step down at the end of the year after nearly a decade at the helm.
British oil major Shell reported a third-quarter profit Thursday, but lower refining and trading revenues brought an end to its run of record quarterly earnings.
Shell posted adjusted earnings of $9.45 billion for the three months through to the end of September, meeting analyst expectations of $9.5 billion according to Refinitiv. The company posted adjusted earnings of $4.1 billion over the same period a year earlier and notched a whopping $11.5 billion for the second quarter of 2022.read more
The chief executive of Shell had himself called on the government to tax oil and gas companies in order to protect the poorest people in society from soaring energy costs.
skynews
Energy company Shell reports profits of $9.5bn for Q3 of 2022 but not at record levels seen in first half of year
The London-listed oil and gas company had reported record profits in the first half of the year amid soaring oil and gas prices.
By Sarah Taaffe-Maguire, business reporter
Thursday 27 October 2022 09:12, UK
Shell has reported operating profits of $9.5bn (£8.19bn) for the third quarter of this year, lower than that of the three months before but still more than double the same period in 2021.read more
Shell Energy Broadband Reviews recently posted on broadband.co.uk
Reviewer Jules: Location Hertfordshire: Date 2022-09-28
Comments
I was a customer of Post Office Homephone and never had an issue with them. Sadly they sold out to Shell and since then things have been difficult! I can’t access my bill using my old account details as I was promised so I can no longer separate personal emails from ‘business’ emails and just recently they put the prices up despite me signing up to a fixed tarrif with Post Office literally a few days before the company transferred me across to Shell.read more
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!
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
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
ROYAL DUTCH SHELL FOUNDER SIR HENRI DETERDING, NAZI FINANCIER
JOHN DONOVAN PROMOTIONAL GAMES FOR SHELL AND OTHER CLIENTS
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
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
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
Shell Energy Broadband Service is Appalling
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
By far the worst broadband provider ever!
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
By far the worst broadband provider ever!
OVER 500 EXTERNAL PUBLICATIONS CITING OUR SHELL WEBSITES
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.
John Donovan, the website owner
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THE HERALD
EXPRESS
27 Oct 2022
BBC NEWS
