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Shell’s Strategy Is Satisfactory

Shell’s Strategy Is Satisfactory

The Global Investor: Feb. 14, 2021

Summary

  • This article takes a close look at Shell’s Strategy Day 2021, which focused on a net-zero emissions target and the businesses that Shell plans to operate.
  • Ultimately, Shell isn’t changing its strategy too much, sticking to its core oil and gas businesses.
  • By focusing on oil and gas and value over volume, Shell is a safer bet than BP which is betting big on a risky corporate restructuring.

The purpose of this article is to analyze Shell’s recent and very important Strategy Day. Shell had promised to give a lot of detail on an organizational restructuring at this event and it had the potential to radically change Shell’s direction. This means the Strategy Day presentations had a possibility to change my bullish thesis on the company. In that article I also gave some of my expectations of what I expected to see in Shell’s Strategy Day, and here I review the key takeaways of the Strategy Day and what they mean for my bullish thesis. 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.

Editorial: Big oil confronts climate change – not a minute too soon

Editorial: Big oil confronts climate change – not a minute too soon

On Thursday, one of the world’s largest oil companies — Royal Dutch Shell — confirmed it will never again produce as much oil as it did in 2019. Peak oil production at Shell, said CEO Ben van Beurden, has come and gone.

The week before, ExxonMobil had made a similarly telling announcement: It is spending billions on a subsidiary formed to advance technologies to reduce the company’s carbon emissions and develop new products to help its customers do the same. 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 Freezing Salaries for Majority of Staff

Shell Freezing Salaries for Majority of Staff

by Bloomberg: Laura Hurst Thursday, February 11, 2021

(Bloomberg) — Royal Dutch Shell Plc will not raise salaries for most of its employees this year, according to people with knowledge of the matter, as it looks to save cash amid an overhaul of the company.

In a note to staff, Chief Executive Officer Ben van Beurden wrote that while the company had previously told employees to have low expectations for salary increases, most wouldn’t get a salary increase this year.

Shell is starting one of the biggest reorganizations in its history as it pivots from a century-long structure that prioritized oil and gas production. There will be as many as 9,000 job losses over the next two years, with cuts already announced in The Netherlands, the U.K. and Malaysia. A second round of voluntary redundancies is also underway, Van Beurden said last week. 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.

Oil majors suffer massive losses in 2020

Oil majors suffer massive losses in 2020

At the worst of the crisis the two US oil majors considered another solution according to the Wall Street Journal — a merger that would have created a massive oil firm.

AFP: Last Updated: Feb 10, 2021, 10:53 PM IST Paris: Already under pressure due to climate change, the world’s top listed oil firms suffered historic losses in 2020 as the Covid-19 pandemic sent demand and prices tumbling. The oil majors — BP, Chevron, ExxonMobil, Shell and Total — suffered $77 billion in losses for the year.

Shell CEO Ben van Beurden called 2020 an extraordinary year.

While much of the losses were accounting charges to record the drop in the value of their assets, the drop crude oil prices — which briefly turned negative in 2020 for the first time ever — caused real pain. 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 slow-burn evolution risks leaving investors cold

Shell’s slow-burn evolution risks leaving investors cold

The Sunday Telegraph: Sunday 7 February 2021. Business Section Page 6

Rival BP is powering ahead with it renewable future, but despite first-mover advantage the Anglo-Dutch giant is yet to map out a path to sustainable returns, finds Rachel Millard

Shell’s boss Ben van Beurden says he hopes he will travel less even after the pandemic is over, having found it “really valuable” to spend more time with his family during 2020.

“Life will be different – how big and how much is hard to say;” he told staff via the corporate website last month. 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.

Fact check: 9,000 Shell layoffs were announced prior to U.S. general election and Biden taking office

Fact check: 9,000 Shell layoffs were announced prior to U.S. general election and Biden taking office

By Reuters Staff: FEBRUARY 9, 2021

Posts circulating on Facebook claim that oil and gas giant Royal Dutch Shell will cut 9,000 jobs because of the Biden administration. Linking the move to Biden is misleading: the company announced plans to cut up to 9,000 positions in Sept. 2020 as part of efforts to shift to low-carbon energy and “simplify the company’s structure”, and the locations of the layoffs were not specified by a spokesperson for Shell, which operates in over 70 countries. 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.

Big Oil’s future could be smaller than its past

Big Oil’s future could be smaller than its past

Paul Takahashi. 6, 2021

Oil companies have crisscrossed the world for more than a century, drilling on nearly every continent and in ever deeper oceans to prospect for fossil fuels that power the global economy.

While they did, the biggest six or seven companies collectively known as Big Oil reshaped international politics and economies, bending them to their will. Oil executives became statesmen in their own right, negotiating deals with foreign leaders to extract oil from the tar sands of Canada, the deserts of the Middle East, off the coasts of South America and Africa and in the shale formations of the U.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.

Pivot to save planet costing the earth

Pivot to save planet costing the earth

BUSINESS COMMENTARY: Alistair Osborne The Times

Welcome to “the future of energy”: a $21.7 billion full-year loss, write-offs just about everywhere and a homily from the boss, beginning: “2020 was an extraordinary year.”

No one needs Royal Dutch Shell’s Ben van Beurden to tell them that. And the worry for shareholders is that he’s not even got round to his big “strategy day” yet. That’s coming next Thursday, with details of the oil giant’s rollercoaster route to net zero. He’s yet to spell out Shell’s future of wind power, carbon capture and electric car-charging. But whatever it is, it’s already costing the earth. 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.

Debt-laden oil majors retreat amid rally

Debt-laden oil majors retreat amid rally

Feb. 5, 2021Updated: Feb. 5, 2021 7:57 a.m. The wreckage of 2020 still looms large in the boardrooms of Big Oil as executives last week laid out deep spending cuts and plans to repay stubbornly-high debt even as crude rallies to the highest in more than a year.

Royal Dutch Shell on Thursday added itself to the growing list of supermajors to post disappointing fourth-quarter results. Like many of its peers, the Anglo-Dutch company reported weak cash flow and net income that fell short of expectations.

The earnings came as an unpleasant surprise to investors that had been expecting a tailwind after crude recovered from last year’s historic lows. But with Covid-19 lockdowns still depressing fuel sales and refining margins, the industry’s focus is on playing defense rather than on taking advantage of a rally that’s pushing Brent crude toward $60 a barrel. 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.

BP, Exxon And Shell – Giants Or Dinosaurs In The Making?

BP, Exxon And Shell – Giants Or Dinosaurs In The Making?

IAM Newswire: Thu, February 4, 2021, 4:31 PM

Chevron (NYSE: CVX) kicked off the earnings season last Friday, disappointing Wall Street with its third straight quarterly loss and showing just how brutal the oil price war was.

This week, Exxon Mobile Corporation (NYSE: XOM) and BP p.l.c. (NYSE: BP) this Tuesday. Royal Dutch Shell (NYSE: RDS-A)(NYSE: RDS-B) took Thursday’s stage and Total (NYSE: TOT) will report on February 9th. 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.

Royal Dutch Shell sees huge loss as pandemic hits oil demand

Royal Dutch Shell sees huge loss as pandemic hits oil demand

Shell announced that up to 9,000 jobs would go worldwide as the company responded to the effects of the pandemic.

Thu, February 4, 2021, 10:20 AM

Oil giant Royal Dutch Shell sank to a net loss of $21.7bn (£16bn) last year after the coronavirus pandemic caused demand to slump.

The announcement comes after two of its rivals, BP and Exxon, posted similar big losses.

Looking ahead, Shell said “significant uncertainty” would continue to have a negative impact on demand for oil and gas products. 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 profit slumps in 2020 as the pandemic bites

Shell’s profit slumps in 2020 as the pandemic bites

LONDON (Reuters) – Royal Dutch Shell’s profit last year dropped to its lowest in at least two decades as the coronavirus pandemic hit energy demand worldwide though the company’s retail network and trading business helped cushion the blow.

The Anglo-Dutch oil major’s annual profit slumped 71% to $4.8 billion as its oil and gas production and profits from refining crude into fuels dropped sharply.

In a sign of confidence, however, Shell said it planned to raise its dividend in the first quarter of 2021, which would be the second slight increase since its slashed its payout by two-thirds at the start of last year due to the pandemic. 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.

Oil giant Shell to axe 330 UK jobs due to covid restrictions – with thousands more to follow

Oil giant Shell to axe 330 UK jobs due to covid restrictions – with thousands more to follow

The move forms part of 9,000 jobs set to be axed across the business over the next two years following a collapse in demand for oil due to the ongoing coronavirus pandemic

BY Emma Munbodh: Deputy Money Editor
  • 13:31, 12 JAN 2021
  • UPDATED14:45, 12 JAN 2021

As well as cutting costs, Shell says it wants to be a net-zero emissions energy company by 2050

Shell is preparing to cut 330 UK jobs over the next two years as coronavirus continues to hit profits.

The oil giant said it plans to shed a quarter of its workforce in Aberdeen by December 2022. 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.

Royal Dutch Shell to cut more than 300 North Sea jobs

Royal Dutch Shell to cut more than 300 North Sea jobs

By Kevin Keane: BBC Scotland energy correspondent: 12 Jan 2021

The oil giant Royal Dutch Shell is to cut 330 jobs from its operations in the North Sea.

The company said most of the posts are based at its office in Aberdeen and will be lost over the next two years.

In September, it was announced that up to 9,000 jobs would go worldwide as the company responded to the slump in demand for oil.

Shell insists it remains committed to the North Sea and will continue to invest in its operations. 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 resumes gas shipments from world’s largest floating structure

“Prelude has been a ‘white elephant’…

Shell resumes gas shipments from world’s largest floating structure

The restart of the huge Prelude facility — which at 488 metres is longer than four football fields — is a welcome boost for Shell as it coincides with a record surge in LNG prices fuelled by a cold snap in Asia. But construction challenges, cost overruns and technical problems with Prelude, as well as challenging market conditions, have prompted Shell and other producers to cancel other FLNG projects. “Prelude has been a ‘white elephant’ — we always felt it was a technology looking for a solution rather than the other way round,” said Neil Beveridge, an analyst at Bernstein. 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 to lay off nearly 700 workers in Louisiana after refinery closes

Shell to lay off nearly 700 workers in Louisiana after refinery closes

Jan. 4, 2021 Updated: Jan. 4, 2021 8:46 a.m. Royal Dutch Shell will lay off 698 workers as it closes its Convent refinery in Louisiana, part of a company effort to reduce carbon emissions.

The layoffs will begin in March and be completed by the end of August when the plant closes, according to information filed with the Louisiana workforce commission last month.

“The decision is part of the company’s global strategy to invest in a core set of uniquely integrated manufacturing sites that are also strategically positioned for the transition to a low-carbon future,” the Hague-based company said in November, when it began shutting down the refinery after failing to find a buyer for it. 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.