Royal Dutch Shell Plc  .com Rotating Header Image

Posts under ‘Big Oil’

PURE GREED: How fatcat energy bosses will bank a staggering £15 MILLION as terrified hard-up Brits choose heating or eating

The Sun

PURE GREED: How fatcat energy bosses will bank a staggering £15 MILLION as terrified hard-up Brits choose heating or eating

IT is High Noon for the energy fatcats today as they drag their expensively-dressed behinds into showdown talks with the Chancellor.

As The Sun revealed yesterday, Nadhim Zahawi has summoned gas and electricity bosses in to explain just how much cash they are making out of the energy crisis.

It comes as energy experts at Auxilione revealed energy bills could reach over £5,000 next year and Martin Lewis warned the crisis could put lives at risk. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell Prelude’s two-month $500m strike delays major maintenance

The Sydney Morning Herald

Shell Prelude’s two-month $500m strike delays major maintenance

By Peter Milne

Shell has delayed major maintenance on its troubled Prelude floating gas facility after negotiations over the weekend failed to end two months of industrial action.

The delay is another setback for Shell, which spent about $US17 billion ($24 billion) to build the world’s largest vessel that has suffered a multitude of production outages and serious safety issues since it arrived in West Australian waters five years ago. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

SHELL PLC BUSINESS ETHICS AND TRANSPARENCY

Extracted from pages 18 & 19 of Shell Sustainability Report 2020

SHELL PLC BUSINESS ETHICS AND TRANSPARENCY

ETHICAL LEADERSHIP

Our core values of honesty, integrity and respect for people underpin our work with employees, customers, investors, contractors, suppliers, non-governmental organisations and others. The Shell General Business Principles, introduced more than 40 years ago, describe our core values, our responsibilities and the principles and behaviours that guide how we do business. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

£7.5bn taxpayer handout for oil titans Shell and BP

This is MONEY.co.uk

Shell and BP to share in huge giveaway that will blow hole in gains from windfall tax: £7.5bn taxpayer handout for oil titans

  • Energy giants already receive Treasury incentives to invest in the North Sea 

  • Fresh changes have been ushered in that will turbocharge the subsidies 

  • Plans introduced at same time as Government’s £5bn ‘windfall tax’ 

  • City sources describe exceptionally high incentives as ‘beyond believable’ 

Oil and gas titans are set to reap a mammoth taxpayer giveaway of up to £7.5billion despite making record profits.

BP and Shell are among the firms that will benefit from new tax breaks, despite BP boss Bernard Looney comparing his firm to a ‘cash machine’.

Energy giants already receive Treasury incentives to invest in the North Sea, but fresh changes have been ushered in that will turbocharge the subsidies. The plans have been introduced at the same time as the Government’s £5billion ‘windfall tax’ – billed as taxing energy firms to help pay for the cost-of-living crisis. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell staff land bonus windfall equating to 8% of their salary as profits surge to £9.5bn

This is MONEY.co.uk

Shell staff land bonus windfall equating to 8% of their salary as profits surge to £9.5bn

  • The oil giant has awarded most of its 82,000 staff a bonus equal to 8 per cent of their annual salary 

  • Executive vice-presidents or higher will not receive the bonus

  • The average salary for Shell UK employees is around £52,000 per year, meaning a British worker will get £4,200

Shell has handed out a bonus to its employees following bumper profits amid surging energy prices.

The oil giant has awarded most of its 82,000 staff a bonus equal to 8 per cent of their annual salary after reporting a record profit of £9.5bn in the second quarter of this year as it cashed in on higher oil and gas prices.

Executive vice-presidents or higher will not receive the bonus. The average salary for Shell UK employees is around £52,000 per year, meaning a British worker will get £4,200. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell staff get profits bonus as energy bills soar

BBC NEWS

Shell staff get profits bonus as energy bills soar

4 August 2022

Energy giant Shell is to give its workers a one-off 8% bonus after the company reported record profits from high oil and gas prices.

Most of the 82,000 staff it employs worldwide will get the pay boost but top executives will be excluded.

Shell said the award reflected its financial success and was “not a response” to the rising cost of living.

Energy firms’ bumper profits have prompted calls for tougher taxes to help families with rising bills. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell dishes out bonuses after huge profits while energy crisis hits Britons’ pockets

EXPRESS

Shell dishes out bonuses after huge profits while energy crisis hits Britons’ pockets

SHELL is passing on some of its record profits to its staff in a one-off bonus, but claimed it was “not a response” to cost of living crisis spurred on by high energy prices.

UN Secretary General Antonio Guterres said that it was “immoral” for oil and gas firms to profit from the invasion of Ukraine, adding that the “grotesque greed is punishing the poorest”.

By ALEKS PHILLIPS

Most of the energy giant’s 82,000 staff worldwide will get an 8 percent boost, after the company doubled its profits in the past three months alone to £9.4billion. Fossil fuel companies have been accused of profiteering from a crisis.

It comes as energy bills are expected to soar to well over £3,000 this winter, with the increase in energy costs being seen as the “main driver” of inflation.

Shell said top executives will be excluded. Its CEO, Ben van Beurden, currently makes an estimated £6.2million.

In the first three months of the year, Shell made $9.1billion (£7.4billion) as the commodity price shot up amid Russia’s invasion of Ukraine. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell’s alleged pattern of discrimination in favour of ‘White Brits’

Court filing confirms that Shell settled a claim from Crockett Oaks III involving serious allegations against Shell and Shell Spymaster James W.D. Hall

By John Donovan

I reported in August 1917 that Mr Crockett Oaks III, Shell security manager for the Americas, received a ‘big bucks’ court case settlement from Shell.

The litigation arose from an alleged pattern of discrimination in favour of ‘White Brits’ by Shell and Shell Corporate Security VP James WD Hall, a British national. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Families are leaving Beaver County as Shell’s ethane cracker sets to open

Families are leaving Beaver County as Shell’s ethane cracker sets to open

Published July 31, 2022 at 2:00 PM EDT

Cheryl and Luke Hardy moved to Beaver County in 2012. Luke came from Albany, New York, where he was finishing graduate school, and Cheryl, from Washington, D.C.

The location of Beaver County was equidistant from their jobs – Luke’s at a university in Ohio and Cheryl’s in the Pittsburgh suburbs.

They eventually bought a house in Beaver, an attractive town on the Ohio River with historic homes and a walkable business district. The couple enjoyed events and festivals in town and going to restaurants there. When their children were born, they walked them to a nearby playground and thought of someday walking them to the nearby elementary school.

They barely noticed in 2016 when Shell announced it was building a multi-billion dollar plastics plant, called an ethane cracker, across the river. As construction workers began building the massive plant, it became harder to ignore every time they drove their kids to daycare. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Amid Climate Crisis, Shell’s Financial Windfall Is Profiteering At Its Most Grotesque

Common Dreams

Amid Climate Crisis, Shell’s Financial Windfall Is Profiteering At Its Most Grotesque

We may be in the dying days of the fossil fuel empire, but those companies are enriching themselves like never before, as people die from our climate crisis.

ANDY ROWELL: July 31, 2022

Oil giant Shell has just posted record profits for a second consecutive quarter, smashing its previous record from earlier this year.

Shell posted adjusted earnings of a staggering USD 11.5 billion for the second quarter of this year, beating the USD 9.1 billion from the first three months of 2022.

Europe’s largest oil group was boosted by the sky-rocketing energy prices caused by the Ukraine war.

This means in the first six months of this year the oil giant has earnings of over USD 20 billion. This is profiteering at its most greedy and grotesque. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell CEO Sees Risk of Even Higher Oil Prices

Shell CEO Sees Risk of Even Higher Oil Prices

Oil prices are more likely to rise than fall as the tightness in supply outweighs any risks to demand, said the boss of Shell Plc. 

“Where we are today, there is more upside than downside when it comes to the oil price,” Shell Chief Executive Officer Ben van Beurden said in an interview with Bloomberg TV on Thursday. “Demand hasn’t fully recovered yet and supply is definitely tight.”

The Shell CEO spoke after the company reported record-breaking profits for a second consecutive quarter due to high oil and gas prices. Even with Brent crude remaining above $100 a barrel there’s little sign of demand destruction, and consumption continues to recover from the pandemic, van Beurden said.

“I’m quite optimistic, both on the energy system as well as the global economy,” he said.

There’s limited scope for extra oil supplies from the Organization of Petroleum Exporting Countries or US shale producers, and the full effect of sanctions on Russia’s production may not yet have been felt, Van Beurden said. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell vows a return for investors from its ‘obscene’ profits

THE TIMES

Shell vows a return for investors from its ‘obscene’ profits

Emily Gosden: Energy Editor:

Shell’s profits more than doubled to a high of $11.5 billion in the second quarter as it benefited from surging oil, gas and fuel prices after Russia’s invasion of Ukraine.

The FTSE 100 oil company said it would increase returns to investors by buying back $6 billion of shares over the coming three months.

Shell faced a backlash for what critics called “obscene” profits, which come after petrol prices hit record highs and as households face a crippling rise in energy bills that is forecast to push millions of people into poverty this winter.

Ben van Beurden, the chief executive, admitted it was “a difficult period for a lot of people” because of high energy prices, but said: “These are global phenomena, there’s… read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell posts record earnings again as energy prices soar

The Washington Post

Shell posts record earnings again as energy prices soar

By Associated Press: July 28, 2022 at 7:25 a.m. EDT LONDON — Shell posted record profits Thursday for a second straight quarter as the energy giant benefited from soaring prices of oil and natural gas fueled by Russia’s war in Ukraine.

London-based Shell said it’s second-quarter adjusted earnings — which exclude one-time items and fluctuations in the value of inventories — rose to $11.5 billion from $5.5 billion in the same three-month period last year.

The latest earnings smash its record set in the previous quarter, when the company recorded $9.1 billion in adjusted earnings.

Shell also said it would buy back another $6 billion in shares, underlining its healthy cash position. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Energy giants Shell and Centrica enjoy soaring profits as prices rise

skynews

Energy giants Shell and Centrica enjoy soaring profits as prices rise

Shell attributed its enormous numbers to higher prices, refining profits, and gas trading.

Shell has reported record profits of $11.5bn (£9.4bn) for the second quarter, more than double last year’s figure of $5.5bn (£4.5bn).

The oil giant had already smashed its own quarterly record at the start of the year when it clocked up profits of $9.1bn (£7.2bn), but the sums continued to rise into Q2. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell, Total continue buyback bonanza after record profits

CNBC

Shell, Total continue buyback bonanza after record profits

KEY POINTS

  • Europe’s oil giants Shell and TotalEnergies extended share buybacks after their second-quarter profits beat an already record-breaking previous quarter.

  • The two companies combined are buying back $8 billion in shares in the third quarter.

  • Benchmark Brent crude oil futures have risen more than 140% in the past twelve months, averaging around $114 a barrel in the quarter.

Europe’s biggest oil companies Shell and TotalEnergies extended share buybacks on Thursday after their second-quarter profits beat an already record-breaking previous quarter on the back of soaring crude, gas and oil product prices.

The two companies combined are buying back $8 billion in shares in the third quarter after recording their respective highest quarterly profits while keeping their dividends steady, which might disappoint some investors. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell reports record profit of $11.5 billion

The Guardian

Shell reports record profit of $11.5 billion

Oil giant Shell has doubled its profits in the last quarter, thanks to the surge in energy prices since the Ukraine war began which are hammering households and businesses.

Shell has reported record adjusted earnings of $11.47bn (£9.4bn) for the last quarter, up from $5.5bn in April-June 2021, as it benefitted from higher realised prices, higher refining margins, and stronger gas and power trading.

That smashes Shell’s record quarterly profit of $9.1bn racked up in January-March, and above analyst forecasts. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.