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Oil major switches sides: Shell’s UK move is a big plus for the City post-Brexit, says ALEX BRUMMER

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Oil major switches sides: Shell’s UK move is a big plus for the City post-Brexit, says ALEX BRUMMER

Shell’s decision to sacrifice its ‘Royal Dutch’ designation and unify its domicile in London is epoch-making.

It is a big plus for the City post-Brexit, even if there are green campaigners who will find the increased presence of an oil major in the UK a cause for disquiet. read more

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

Shell moves its HQ to London from the Netherlands and plans to scrap ‘Royal Dutch’ from its name

Minister hails ‘vote of confidence’ for Brexit Britain as Shell moves its HQ to London from the Netherlands and plans to scrap ‘Royal Dutch’ from its name

  • Kwasi Kwarteng said decision – subject to a vote – would ‘create jobs’ in Britain
  • Board meetings and senior executives will move to London in boost for capital 
  • Decision follows lawsuit by climate activists to force Shell to slash emissions 

Oil giant Shell today announced it will move its headquarters and tax residence to the UK and drop ‘Royal Dutch’ from its name for the first time in 130 years.

The decision was hailed as a ‘clear vote of confidence in the British economy that will ‘create jobs’ by business secretary Kwasi Kwarteng. The firm pays hundreds of millions of pounds worth of taxes every year, which will now go to the Treasury. read more

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

‘Activist’ Billionaire hedge fund manager Daniel Loeb buys $500m stake in Royal Dutch Shell and demand it splits in two to focus on renewable energy

‘Activist’ Billionaire hedge fund manager Daniel Loeb buys $500m stake in Royal Dutch Shell and demand it splits in two to focus on renewable energy

  • Billionaire hedge fund manager Daniel Loeb, head of Third Point LLC, has acquired $500million in shares of Royal Dutch Shell PLC 
  • In a letter obtained by The Wall Street Journal the firm has demanded that the oil major to separate into two separate entities 
  • One would include Shell’s legacy businesses and provide steady cash flow while the other would house renewables and other units needing more investment 
  • Third Point’s suggestions come after Exxon shareholders elected a third director nominated by activist hedge fund Engine No 1 to the energy company’s board
  • Alexander Karsner, a senior Google strategist, joins environmental scientist Kaisa Hietala and former Andeavor CEO Gregory Goff on the 12-person board 

A billionaire hedge fund manager has acquired a large stake in Royal Dutch Shell PLC and is demanding that the oil major to separate into two separate companies.

Daniel Loeb’s Third Point LLC is pushing for the separation to attract new investors and hold on to current ones as many have sold their shares over concerns that Shell is not environmentally friendly.

According to The Wall Street Journal the activist hedge fund’s stake in Shell is worth more than $500million and is one of Shell’s largest investors. read more

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

Big Oil’s climate change revolt

DAILY MAIL: MailOnline

Big Oil’s climate change revolt: In just one day green activists win seats on Exxon board, Chevron investors demand emission cuts and court orders Shell to slash carbon

  • Top US and European oil companies had startling developments on Wednesday
  • Activist investor hedge fund won two seats on the board of Exxon Mobil
  • Gregory Goff and Kaisa Hietala will now join Exxon’s 12-member board
  • Chevron shareholders also voted in favor of a proposal to cut emissions 
  • Dutch court ordered Royal Dutch Shell to drastically deepen carbon cuts 

Some of the world’s biggest oil companies are facing stark pressure from activists concerned about climate change, prompting a string of startling developments on Wednesday.

At Exxon Mobil, an activist hedge fund won two board seats, while Chevron investors voted to force the company to cut emissions and a Dutch judge order Shell to drastically cut carbon. read more

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

Funds heavyweight LGIM joins shareholder revolt against Shell’s plans to curb carbon emissions because they ‘don’t go far enough’

Funds heavyweight LGIM joins shareholder revolt against Shell’s plans to curb carbon emissions because they ‘don’t go far enough’

  • Legal & General’s asset management arm LGIM said Shell plans not ‘credible’ 
  • LGIM part of 30% to back resolution by shareholders activist group Follow This
  • Follow This urged Shell to set ‘inspirational’ targets to battle emissions
  • Another UK asset manager – Sarasin & Partners – also piled pressure on Shell and BP, saying that they were not ‘serious’ about hitting net-zero emission targets 

Legal & General’s asset management arm has emerged as one of the investors to have voted against Royal Dutch Shell’s climate plans last week.

While acknowledging that some progress was being made, LGIM said today that the oil major’s targets to reduce carbon emissions and oil and gas production lack credibility and fall short of tackling climate breakdown. read more

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

Oil giant Royal Dutch Shell says it will take a £145m first-quarter hit from Texas freeze that left nearly 200 dead

Oil giant Royal Dutch Shell says it will take a £145m first-quarter hit from Texas freeze that left nearly 200 dead

  • Severe freezing weather hit Texas in February this year triggering many deaths
  • Millions of people were also left without power and Shell’s operations were hit 

Royal Dutch Shell has warned that the severe winter storm in Texas earlier this year looks set to hit its bottom line for the fist quarter.

In February, a snowstorm swept across Texas and swathes of North America, knocking out sections of the former’s electricity grid, leaving millions without power and nearly 200 people dead. read more

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

Big oil goes green: Shell buys electric car charging company as BP cuts back on its exploration arm

Big oil goes green: Shell buys electric car charging company as BP cuts back on its exploration arm

Two of Britain’s largest oil producers have taken major steps in their battle to go green.

BP has dismantled its century old exploration team, cutting the division to less than 100 employees from over 700 just a few years ago.

And rival Shell bought Ubitricity, the largest electric vehicle charging network in the UK. read more

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

City investors deserting oil giants

City investors deserting oil giants 

Fund titans blacklist BP over green shift: Fidelity among City investors deserting oil giants – as clean energy plans fuel profit fears

  • BP and Shell are undergoing the biggest restructurings in their histories, shedding a total of 19,000 jobs globally 
  • Both have committed to cutting the carbon footprint of the oil and gas they produce to net zero by 2050

EXTRACTS:

BP and Shell are undergoing the biggest restructurings in their histories, shedding a total of 19,000 jobs globally. Both have committed to cutting the carbon footprint of the oil and gas they produce to net zero by 2050.

BP chief executive Bernard Looney said in August that his company is shifting to a low-carbon business because ‘the energy mix is changing’, with greater demand from customers for cleaner fuels. The pandemic has made the shift more urgent as global oil prices and demand have collapsed further. read more

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

Should you ditch energy giants as the age of oil ends?

Should you ditch energy giants as the age of oil ends? Or try to clean up as they go green?

There has been talk of the demise of oil and gas for decades. But you know that things are getting serious when even the boss of oil giant BP, Bernard Looney, warns that demand for oil may peak in the next few years and then decline.

The so-called energy transition from fossil fuels to renewables is gaining momentum. read more

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

Shell joins other oil giants in slashing spending after coronavirus and ‘oil war’ between Russia and Saudi Arabia causes prices to collapse

Royal Dutch Shell has announced it is planning to save at least $8billion in the coming year following the huge fall in oil prices.

The world’s ninth-largest company by revenue says capital expenditures are to be scaled back by $5billion. At the same time, underlying operating costs will be cut by at least $3billion to help cope with the impact of the coronavirus.

It still plans to go ahead with their $10billion divestment programme but have cancelled the next tranche of their share buyback programme. read more

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

IN THE MONEY: Shell boss Ben van Beurden pocketed £8.7m last year despite taking a 51% pay cut

Shell’s boss’s pay was cut in half in 2019.

The FTSE 100 energy business said Ben van Beurden was paid £8.7million last year – a 51 per cent drop on 2018. 

It came after a year when seven people died while working for the company and its turnover dropped.

Van Beurden has been chief executive since 2014. 

His base salary was around £1.4million and he received more than £6million from a long-term performance share plan.  read more

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

Daily Mail: Shell pays BBC Radio 1 DJ Greg James £100,000 to front campaign plugging the oil company’s ‘green’ credentials

Radio 1 DJ Greg James was paid £100,000 by oil giant Shell to front an online campaign which plugged the company’s ‘green’ credentials.

The Breakfast Show presenter, who is paid £229,999 a year by the BBC, is the latest star to be accused of cashing in on their public profiles by moonlighting for corporate firms.

The 34-year-old, who broadcasts to around 5.6 million listeners each Monday to Thursday, fronted a five-part series for Shell called The Great Travel Hack.

The Top Gear-style programme followed two teams of competitors racing from London to Istanbul while using environmentally friendly vehicles. read more

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

Daily Mail: Shell’s profits rocked and share buy-back put in doubt as it’s hit by the slumping oil price

Oil giant Shell has experienced a large fall in third-quarter profits due to weaker oil prices.

Earnings after stripping out fluctuating expenses fell 15 per cent to £3.7billion, well below estimates it might reach almost £5billion.

Shell was able to charge an average of £43.25 per barrel of oil it produced in the quarter, down from £52.69 in the same three months last year. It was even more than a dollar lower than the second quarter price. read more

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

Doctors and nurses join Extinction Rebellion protesters for demo at Shell’s London HQ

  • Extinction Rebellion activists entered the sixth day of their ongoing demonstration in London today   
  • More than 100 healthcare professionals gathered outside Shell HQ to highlight deaths caused by air pollution
  • Climate change activists are also marching in a funeral procession down Oxford Street in a ‘grief march’ 
  • Police announced there have been 1,290 arrests in connection with the ongoing protests across London

Doctors and nurses joined Extinction Rebellion protesters today as ‘stretched’ police call in backup from Scotland – and warn that protests are impeding their ability to attend to other crime.

More than 100 healthcare professionals have joined the sixth day of climate change protests in London. Doctors, nurses and medical students were among those demonstrating at Jubilee Gardens, near oil giant Shell’s London HQ, on Saturday in the ‘Health March for the Planet’. read more

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

Mail On Sunday: Energy giant Shell makes a U-turn on its taxi app despite investing millions

Energy giant Royal Dutch Shell is reversing its attempt to break into the taxi market despite investing millions in an app aimed at boosting drivers’ fares while trying to tackle climate change.

The company launched its FarePilot app last year and has jointly invested $8.8million (£7.1million) with the venture arm of Boston Consulting Group.

The app was designed to help private hire and taxi drivers make more money while cutting emissions by guiding them away from congested areas and towards customer hotspots. read more

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

Shell in talks with Australian government after receiving £415m tax bill

Royal Dutch Shell is in talks with the Australian government after it was hit with a £415m tax bill.

The Australian Taxation Office claims the Anglo-Dutch oil major avoided paying tax on its 27 per cent stake in the £16.5 billion Browse gas project in seas off the coast of Western Australia.

Court documents show Shell’s primary company in the country, Shell Energy Holdings Australia, has been in a dispute with the tax body for six years over the issue, the Guardian reported. read more

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