Shell’s London Exodus: A “What the F@#k” Moment for the Stock Market

Posted by John Donovan: 13 April 2024

In a plot twist that could make even the most seasoned investor double-take, Shell is threatening to ditch the London Stock Exchange faster than you can say “oil spill cleanup.”

Wael Sawan, the head honcho at Shell, has been dropping hints for a while now. First, it was his enchanting trip to the New York Stock Exchange, where they rolled out the red carpet and even flew the Shell flag. Now, he’s openly grumbling about London’s undervaluation of Shell’s shares compared to its Yankee rivals.

And he’s not alone in his discontent. Ben van Beurden, the former top dog at Shell, is joining the chorus of complaints, lamenting the “massive undervaluation” of the company in London. It’s like a corporate pity party, and London’s stock market is getting the cold shoulder.

But here’s the kicker: Is Shell’s valuation suffering just because it’s listed in London? Sure, Sawan and the gang seem convinced, but one has to wonder if there’s more to the story.

Meanwhile, across the pond, ExxonMobil’s CEO is raking in cash like there’s no tomorrow, making Shell’s top brass look like paupers in comparison. And with the US oil giants enjoying higher valuations and friendlier investors, Shell is eyeing the American dream with envy.

But let’s not forget the elephant in the room: climate change. While the US is busy drilling away, Europe is pushing for a greener future. And with Shell’s profits tied to oil and gas ventures, Sawan is caught between a rock and a hard place.

So, is Shell’s flirtation with the US just a pipe dream, or could London’s stock market soon be bidding farewell to its most valuable player? It’s a “What the F@#k” moment for the ages.

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