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Activist Investor Dan Loeb Increases Shell Stake, Reuters Reports

by John Donovan.

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Bloomberg

Activist Investor Dan Loeb Increases Shell Stake, Reuters Reports

Rachel Morison: Sat, May 7, 2022, 5:18 PM·

(Bloomberg) — Dan Loeb’s Third Point LLC has increased its $750 million stake in the energy giant Shell Plc as the investor seeks to pressure the company to split up its businesses, Reuters reported.

Loeb has held discussions with Shell’s management, board members and other shareholders, according to a letter sent to Third Point investors and seen by Reuters.

The letter described the company’s stock price as cheap but said there could be gains ahead with “proper management,” according to Reuters. read more

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Third Point’s Loeb praises Shell moves, sticks by calls for breakup

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Reuters

Third Point’s Loeb praises Shell moves, sticks by calls for breakup

By Svea Herbst-Bayliss

NEW YORK, May 7 (Reuters) – Activist investor Daniel Loeb, who wants Royal Dutch Shell Plc to break apart, applauded the energy giant’s decision to move its headquarters even as he sticks to views that a different corporate structure would make it more successful.

Loeb, who said in October that his hedge fund Third Point LLC had taken a $750 million stake in the company, told his own investors on Friday that he has added to his Shell stake and has held discussions with management, board members and other shareholders. read more

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Extinction Rebellion: Six people arrested as activists climb on top of Shell oil tanker in central London

by John Donovan.

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sky news

Extinction Rebellion: Six people arrested as activists climb on top of Shell oil tanker in central London

Saturday 16 April 2022 16:05, UK

Six people have been arrested after Extinction Rebellion activists climbed on top of an oil tanker in central London.

The climate group said three people climbed on top of the Shell tanker, holding a banner which said “end fossil filth” in Bayswater Road on Saturday morning.

Extinction Rebellion said Olympic gold medal-winning canoeist Etienne Stott and fellow British Olympian Laura Baldwin were among those demonstrating. read more

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Shell’s board of directors sued for ‘failing to properly prepare’ for the energy transition

by John Donovan.

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CNBC

Shell’s board of directors sued for ‘failing to properly prepare’ for the energy transition

PUBLISHED TUE, MAR 15 202210:14 AM EDT

Sam Meredith @SMEREDITH19 KEY POINTS

Environmental law firm ClientEarth, a Shell shareholder, said Tuesday that it had notified Shell of its claim against the company’s 13 executive and non-executive directors.
It argues the board’s failure to implement a climate strategy that truly aligns with the landmark Paris Agreement is a breach of their duties under English law.
In response to the legal action, Shell told CNBC via email that it was delivering on its global strategy that supported the Paris accord.

Shell’s board is being sued for failing to prepare the multinational oil and gas company for the transition away from fossil fuels.

Environmental law firm ClientEarth, a Shell shareholder, said Tuesday that it had notified Shell of its claim against the company’s 13 executive and non-executive directors. It argues the board’s failure to implement a climate strategy that truly aligns with the landmark Paris Agreement is a breach of their duties under English law. read more

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Shell chief’s pay rose by a quarter in 2021 to £6m

by John Donovan.

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The Guardian

Shell chief’s pay rose by a quarter in 2021 to £6m

Ben van Beurden was paid 57 times more than median Shell worker, according to oil firm’s annual report

Jasper Jolly: Thu 10 Mar 2022 09.13 GMT

The Shell chief executive Ben van Beurden’s pay rose by a quarter in 2021 to £6m, as the fossil fuel producer benefited from soaring energy prices amid calls for a windfall tax on energy companies.

The FTSE 100 company reported record profits during 2021, thanks in part to a gas price surge in the final three months of the year amid a rebound in demand for commodities as the global economy recovered from coronavirus pandemic lockdowns. read more

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CAN SHELL GREEN?

by John Donovan.

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English translation of extracts from a Forbes article published in German on 1st March 2022.

FORBES

CAN SHELL GREEN?

In the public perception, Shell is an industrial giant – now Fabian Ziegler, Chairman of the Management Board of Deutsche Shell Holding GmbH since spring 2020, wants to make the company greener.

Will the Swiss succeed in pulling off the coup so vital to the group’s survival?

Text: Matthias Lauerer
Photo: Deutsche Shell Holding GmbH

1st March 2022

Is Shell on its way to a carbon-neutral future? Will this be a reimagined world, where green hydrogen, e-mobility and decarbonization have become a reality? Or do they prefer to greenwash to perpetuate the dirty old business model on which the global economy hangs? read more

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Shell finance chief Jessica Uhl quits after oil supermajor’s move to London Jessica Uhl cites ‘family reasons’ as she steps down

by John Donovan.

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Evening Standard

Shell finance chief Jessica Uhl quits after oil supermajor’s move to London

Jessica Uhl cites ‘family reasons’ as she steps down

The respected finance chief who oversaw Shell’s historic relocation to London is leaving the company after almost two decades, having decided moving her own family to the UK long-term is “not sustainable”.

Mother-of-three Jessica Uhl, who has held finance roles in London, Houston and The Hague since joining the oil super-major from Enron in 2004, will step down as CFO on March 31.

Uhl will be replaced by Sinead Gorman, a civil engineer by background who joined Shell in 1999 and steps up from her role as head of finance of its global upstream business. She will be based in London full-time. read more

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Shell boss rakes in £7million in shares thanks to the cost of living crisis after the oil and gas giant recorded £12billion profits

by John Donovan.

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Daily Mail: MailOnline

Shell boss rakes in £7million in shares thanks to the cost of living crisis after the oil and gas giant recorded £12billion profits

“He described Mr van Beurden as ‘yet another greedy oil corporation boss profiteering from the misery inflicted by rocketing energy costs’.”

Ben van Beurden, 63, has seen the value of his shares skyrocket amid price hikes
The CEO has received £71 million in pay and bonuses since taking the job
The spike helped the energy giant Shell to unveil a 14-fold increase in profits

By ALEX LAWSON SENIOR CITY CORRESPONDENT FOR THE MAIL ON SUNDAY

PUBLISHED: 23:55, 5 February 2022 | UPDATED: 23:55, 5 February 2022

The chief executive of Shell has been criticised after his firm cashed in on the cost of living crisis – leaving him with a lucrative windfall. read more

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Shell to begin trading under simpler, single-line share structure

by John Donovan.

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REUTERS

Shell to begin trading under simpler, single-line share structure

By Syndicated ContentJan 31, 2022 | 2:46 AM

(Reuters) – Oil major Shell said it would begin trading with a single line of shares on Monday, confirming the assimilation of its A and B shares over the weekend as part of plans to simplify its dual share structure.The group, which ditched “Royal Dutch” from its name earlier this month after moving its head office to Britain from the Netherlands, said its shares would start dealings on Euronext Amsterdam, the London Stock Exchange and New York Stock Exchange. read more

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Royal Dutch no more — Shell officially changes name

by John Donovan.

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CNBC

Royal Dutch no more — Shell officially changes name

PUBLISHED FRI, JAN 21 20223:00 PM EST KEY POINTS

The London and Amsterdam stock exchanges will reflect the name change on Jan. 25 while the New York Stock Exchange will follow on Jan. 31.
The change will not affect share ownership.
The shares will follow a single line of ordinary shares on Jan. 29.

Shell officially changed its name on Friday, ditching “Royal Dutch”, which has been part of its identity since 1907, following plans to scrap its dual share structure and move its head office from the Netherlands to Britain.

“Shell announced the Board’s decision to change its name to Shell plc on December 20, 2021. This change has now taken effect,” Shell said in a filing.

The London and Amsterdam stock exchanges will reflect the name change on Jan. 25 while the New York Stock Exchange will follow on Jan. 31. read more

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Royal Dutch Shell plc changes its name to Shell plc

by John Donovan.

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Royal Dutch Shell plc changes its name to Shell plc

January 21, 2022 12:10 ET | Source: Shell International B.V.

LONDON, January 21, 2022

Shell plc (Shell) today confirmed its name has changed from Royal Dutch Shell plc to Shell plc.

Shell announced the Board’s decision to change its name to Shell plc on December 20, 2021. This change has now taken effect.

Euronext Amsterdam, the London Stock Exchange and the New York Stock Exchange have been informed of this name change and it is anticipated that Euronext Amsterdam and the London Stock Exchange will reflect the change of name on Tuesday January 25, 2022, while the New York Stock Exchange will follow on Monday January 31, 2022. read more

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Shell Pursues $7 Billion Buyback ‘At Pace’ Despite LNG Troubles

by John Donovan.

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Reuters

Shell Pursues $7 Billion Buyback ‘At Pace’ Despite LNG Troubles

“Shell will later this month move its head office from The Hague to London, scrap its dual share structure and change its name to Shell Plc as part of a plan to simplify its structure and shift its tax residence from the Netherlands.”: “Shell said that its production and liquefaction volumes were impacted in the fourth quarter by unplanned maintenance, mainly in Australia, where its giant Prelude floating LNG vessel was hit by a power outage.” read more

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Want To Stop Climate Change? Buy Big Oil Stock

by John Donovan.

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Forbes:

Want To Stop Climate Change?

Buy Big Oil Stock

Jeroen Kraaijenbrink: Contributor: Leadership Strategy: 3 JAN 2022

EXTRACTS

In an age in which stock trading is no longer reserved to Wall-Street and a climate crisis is becoming a reality, sustainability-driven shareholder activism was bound to happen. And we see it happening, with increasing impact—especially in Big Oil, responsible for the largest share of the world’s greenhouse gas emissions.

“Thanks to the votes of institutional investors for the Follow This climate resolutions, Shell, Equinor, BP, Phillips 66, and Chevron have reluctantly set climate ambitions covering Scope 3 already.” And, as Follow This announced in their recent investor briefing, they will file no less than eight climate resolutions in 2022, at Shell, BP, Chevron, ConocoPhillips, Phillips 66, Occidental Petroleum, ExxonMobil, and Marathon Petroleum. read more

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Anti-fossil sentiment in the Netherlands

by John Donovan.

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fd

Anti-fossil sentiment in the Netherlands

Earlier this year, oil and gas multinational Shell announced to move its headquarters from The Hague to London…

Bert van Dijk 28 Dec 18:17

The Dutch offshore sector is very concerned about the business climate in the Netherlands.

The increasing anti-fossil sentiment is a thorn in the side of the sector.

Anti-fossil sentiment

Earlier this year, oil and gas multinational Shell announced to move its headquarters from The Hague to London . The move may have been prompted by the desire to simplify the share structure, but many see that anti-fossil sentiment also plays an important role in that move. read more

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Shell’s arch critic John Donovan has secured the website domain name for Shell Plc

by John Donovan.

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Shell’s arch critic John Donovan has secured the website domain name for Shell PLC

The shellplc.website will become operational in January to coincide with the implementation of the new name for Royal Dutch Shell Plc: Shell PLC.

Shell has dropped the Dutch Royal Family link and ditched the Dutch part of the former Anglo-Dutch multinational company, which will now be solely a British company with its HQ solely in London, paying UK taxes.

The Royal Dutch Shell Group self-evidently was not well disposed to the taxes imposed by the Dutch left-wing government or its support for climate change policies and parties suing Shell. read more

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Shell sets out expected timetable of Simplification

by John Donovan.

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GlobeNewswire

Shell sets out expected timetable of Simplification

December 20, 2021 09:00 ET | Source: Shell International B.V.

THE HAGUE, December 20, 2021 – The Board of Royal Dutch Shell plc (Shell) has today decided to proceed with its proposal to simplify the company’s share structure and align its tax residence with its country of incorporation in the UK.

As a result, the Board has also decided to change the company’s name to Shell plc which will be implemented in January 2022, with a further announcement to be made at the time. read more

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