News and information on Shell Plc
Posted by John Donovan: 29 Feb 24
In an astonishing turn of events that will surely leave us all basking in the warm glow of irony, Shell, the poster child for fossil fuel philanthropy, has decided to play a round of hot potato with approximately a quarter of its US solar business, Savion. That’s right, folks, the same company that’s been drilling its way into our hearts (and the planet) is now making a strategic pivot so bold, it might just qualify for an Olympic gymnastics routine.
Posted by John Donovan: 6 Jan 24
Wael Sawan, the CEO of Shell, a corporation worth a whopping $214 billion, seems to be eagerly warming the bench as he watches Exxon Mobil and Chevron have all the fun in the Permian, a hotspot for oil that’s as profitable as it is controversial. In 2024, Sawan faces a thrilling dilemma: let his U.S. rivals hog all the glory or jump back into the oil bonanza himself, turning his back on that pesky renewable energy trend.
Rewinding to 2021, when green pressures were all the rage, Sawan’s predecessor, Ben van Beurden, was coaxed into selling assets in the Permian. But fast forward to the present, where the Ukraine war has conveniently dampened Shell’s enthusiasm for reducing oil output. Sawan, playing it cool, has also slyly dropped most of those green targets, and guess what? Investors are loving it. Since Sawan took the helm in 2023, Shell’s stock has soared by 15%, leaving U.S. and European rivals eating its dust. Meanwhile, BP, which took the high road away from oil, is barely keeping pace amid its CEO-hunting saga.
Posted on 12 November 2023 by John Donovan
In the high-stakes world of oil barons and carbon czars, Shell and BP might just be flirting with the idea of a fossil fuel marriage made in heaven. Because, in the grand world of big oil, bigger is always better, especially when everyone else is fretting over minor things like climate change and renewable energy.
Once upon a time, under the starry-eyed leadership of Lord John Browne, BP was the belle of the ball, scooping up Amoco and Arco in a transatlantic love affair. Meanwhile, Shell, not to be outdone and under Ben van Beurden’s watchful eye, waltzed with BG Group for a cool £36 billion in 2016.
As always, Shell is cordially invited to point out any factual inaccuracies, although we suspect they’re too busy counting their rising profits to bother.Posted by John Donovan: 17 October 2023
Oh, what a delightful twist in the ever-entertaining saga of Shell’s environmental pursuits! Shell Plc’s CEO, Wael Sawan, has emerged as a visionary leader, unveiling a groundbreaking new approach to achieving net zero emissions. Never mind that the company’s shares are soaring to levels unseen in five years – we have a new pathway to salvation!
Sawan, the brilliant mastermind, clarified the situation with utmost confidence, saying, “For avoidance of doubt, what hasn’t changed is the destination that we have set for ourselves. What has changed is the pathway we’re going to get there.” It’s almost poetic, isn’t it? The destination remains unchanged, but the journey, oh, the journey is now filled with unprecedented twists and turns.
By John Donovan: 3 July 2023
Thomas Brostrom has made the courageous decision to leave the oil giant Shell Plc. This decision comes weeks after the newly appointed chief executive, Wael Sawan, shamelessly curtailed Shell’s feeble attempts at a green transition.
Brostrom, a courageous advocate for renewable energy, joined Shell in August 2021, after the company’s previous CEO, Ben van Beurden, made token gestures towards reducing greenhouse gas emissions. His appointment as head of renewables in February 2022 promised a glimmer of hope for a company that thrives on exploiting the Earth’s finite resources.
Posted 13 June 2023 by John Donovan
In a highly anticipated presentation scheduled for Wednesday, 13 June, Sawan will dazzle investors with a glimpse into his master plan for the company. Brace yourselves, for his vision is nothing short of awe-inspiring: to shower shareholders with bountiful returns and close the gap in valuation with the mighty giants of the industry, such as Exxon Mobil Corp. and Chevron Corp. Surely, this Herculean task will require nothing less than unwavering devotion and a complete disregard for the planet’s well-being.
OILPRICE.COM
Shell: All Options On The Table For New Energy Strategy
Shell is currently deliberating how to reconcile energy security with climate targets in a new strategy expected in June, with all options on the table, the supermajor’s chief executive Wael Sawan told The Wall Street Journal in a recent interview.
Whatever the decision of Sawan, other top executives, and the board, Shell is likely to disappoint investors, environmentalists, or both.
BBC NEWS
Former Shell boss Ben van Beurden’s pay package jumps to £9.7m
Former Shell boss Ben van Beurden received a pay package of £9.7m last year, up more than 50% from 2021.
His pay was revealed in the oil and gas giant’s annual report and accounts.
Shell reported the highest annual profits in its 115-year history last year after a surge in energy prices following Russia’s invasion of Ukraine.
Massive profits made by energy firms have added to pressure to tax them more as households struggle with rising energy bills.
…problems included repeated outages at its Prelude liquefied natural gas (LNG) facility off the western coast of Australia…
REUTERS
Shell CEO creates chief of staff role in management overhaul
By Ron Bousso: February 23, 2023: 4:15 PM GMT
LONDON, Feb 23 (Reuters) – Shell (SHEL.L) Chief Executive Officer Wael Sawan has created a senior role of chief of staff as part of a management overhaul to improve performance after technical problems and other disruption, three company sources said.
REUTERS
Shell CEO in first changes combines LNG, upstream operations
The new division, which combines Shell’s most profitable operations, will be headed by current upstream director Zoe Yujnovich, Shell said in a statement on Monday.
Sawan took office on Jan. 1 after heading Shell’s integrated gas division, which included Shell’s LNG and renewables businesses, with a vow to simplify and improve the company’s operations.
Under the internal restructure, renewables operations will be combined with Shell’s oil refining and marketing operations led by current downstream director Huibert Vigeveno, the company said.
oilprice.com
Shell Nearly Sold Its Norwegian Oil And Gas Assets In Late 2022
By Tsvetana Paraskova – Jan 10, 2023, 8:00 AM CST
Shell held talks last year with the biggest UK North Sea producer Harbour Energy to sell its oil and gas fields offshore Norway and some mature assets offshore the UK, but a deal ultimately couldn’t be reached due to price volatility, company sources told Reuters on Tuesday.
Shell, as well as other majors, have worked in recent years on streamlining asset portfolios to focus on the most profitable projects. Back in 2021, Shell said that its oil production peaked in 2019 and is set for a continual decline over the next three decades as it looks toward the renewables side of the business. Shell said its carbon dioxide emissions also likely peaked—a year earlier, in 2018.
It’s a new year and Shell has a new boss, but the same old greed just won’t cut it
The company has to start paying for its share of the climate damage oil and gas have caused around the world. It certainly has the funds
While households up and down the UK freeze, and struggle to put food on the table, Shell has made the most of tax breaks to avoid paying any windfall tax whatsoever. It’s even milked £100m from taxpayers. And instead of investing profits back into clean, cheap renewable power which could alleviate bills and shore up UK energy security, Shell has funnelled billions of that extra cash back into shareholder pockets in the form of buybacks.
SkyNews
Shell to pay £1.7bn in UK and EU windfall taxes
It comes after bosses at the London-listed oil giant said in October they had not paid any UK windfall taxes due to heavy investment in the North Sea.
Windfall tax payments are to cost Shell around $2bn (£1.7bn), the oil and gas company has revealed.
The cost of the UK’s energy profits levy and the EU’s recently announced solidarity contribution will reach $2bn (£1.7bn) in the final three months of its financial year, the firm said in a fourth quarter 2022 update.
RIGZONE
Meet Shell’s New CEO
by Andreas Exarheas Rigzone Staff Tuesday, January 03, 2023
Wael Sawan has officially become Shell’s new chief executive officer, succeeding Ben van Beurden, who had held the post since January 1, 2014.
In an in-house interview posted on Shell’s website, which asked the new company head how he felt about taking on the challenge of being Shell CEO, Sawan said he was “incredibly excited”.
“But, I have to admit, also sometimes daunted by the huge challenges that are out there. I take comfort in the fact that we do have a strong strategy. We do have brilliant people,” he added in the interview.
Mail On Sunday/ ThisisMoney.co.uk
I was written off in my 40s, says outgoing Shell boss Ben van Beurden: Oil industry titan is having the last laugh
He is one of the most powerful business leaders on the planet, with a pay package of £6million in 2021.
But, in a candid admission that will strike a chord with anyone who feels their talents are overlooked at work, Shell chief executive Ben van Beurden says his stellar career was almost derailed two decades ago.
The Dutch oilman says that when he was in his 40s he was told at an assessment centre for leadership training that he did not have what it took to get to the top.
21 Dec 2022
The content below is sourced from current verifiable customer reviews of Shell Energy published on Trustpilot.
Avoid Shell Energy! They are an appallingly bad company. They took over as our energy supplier over a year ago and still haven’t refunded the money they owe us (i expect this is the case for many of their other customers). They couldn’t care less about their customers, rude and unhelpful customer services staff (when you eventually do get through) We’ve wasted hours and hours of our time chasing the money they owe us only to be fobbed off every time, absolutely terrible, avoid at all costs, there are plenty of other energy suppliers available, see all the other bad reviews online of Shell and you will see that this is not an isolated instance! Disgusting behaviour from a company that made £10 billion in profits in the last quarter alone but refuses to refund £300 that they owe. It’s incredible that companies like this are allowed to get away with it.
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