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Oil giant Shell returns $5.5bn to shareholders as profits rise after it cashes in on rising gas prices

This is Money

Oil giant Shell returns $5.5bn to shareholders as profits rise after it cashes in on rising gas prices

  • Profits at its gas trading division to be ‘significantly higher’ in the last quarter 
  • It will return remaining $5.5bn proceeds from the sale of its US shale business 
  • Shell due to report its results on 3 February, days before Ofgem announcement 

Royal Dutch Shell expects profits at its gas trading division to be ‘significantly higher’ in the last quarter of 2021 as it cashes in on rising prices.

The oil giant also said it would go ahead with its plan to return $5.5billion to shareholders through share buybacks after the sale of its US shale 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.

Outrage as Shell announces ‘nauseating’ $5.5billion payout to shareholders

The Sun

Outrage as Shell announces ‘nauseating’ $5.5billion payout to shareholders amid cost of living crisis

FUEL giant and energy firm Shell has come under fire from experts for announcing a $5.5billion pay out to shareholders amid a growing cost of living crisis.

It comes as record wholesale gas prices and supply chain issues have put household finances under pressure, pushing up energy bills and petrol costs.

It means households have been plunged into a cost of living crisis in recent months – but Shell’s shareholders are set for a $5.5billion pay day. 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.

Want To Stop Climate Change? Buy Big Oil Stock

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

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 and Shell: Big Oil risks big embarrassment as profits roll in during COP26

London Evening Standard

BP and Shell: Big Oil risks big embarrassment as profits roll in during COP26

By Lucy Tobin World leaders this week gathered in Glasgow to discuss tackling climate change, which is driven in part by fossil fuel emissions. At the same time super majors like BP and Shell have announced billions in profits thanks to surging oil prices.

The timing was impeccable: as 30,000 COP26 delegates listened to UN Secretary-General António Guterres warn that “our addiction to fossil fuels is pushing humanity to the brink… either we stop it — or it stops us,” BP hurled billions of dollars at its investors via its third-quarter results.

The oil major pledged to return another $2.25 billion via buybacks and dividends this week thanks to Brent oil trading at $85 dollars a barrel, its highest since 2014. Boss Bernard Looney admitted BP was “a cash machine at these types of prices.” 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 and BP paid zero tax on North Sea gas and oil for three years

The Observer: Shell and BP paid zero tax on North Sea gas and oil for three years

Jon Ungoed-Thomas: Sat 30 Oct 2021 20.15 BST

Shell and BP, which together produce more than 1.7bn tonnes of greenhouse gases a year, have not paid any corporation tax on oil and gas production in the North Sea for the last three years, company filings reveal.

The oil giants, which have an annual global footprint of greenhouse gases more than five times bigger than Britain’s, are benefiting from billions of pounds of tax breaks and reliefs for oil and gas production. 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.

One Foot On The Dock: Why Breaking Up Shell May Be Just The Beginning

Forbes

One Foot On The Dock: Why Breaking Up Shell May Be Just The Beginning

Rob Day: Contributor Hedge Funds & Private Equity I invest in and write about private equity and sustainability.

Activist investor Dan Loeb made headlines this week with his move (through his Third Point LLP) to take a stake in Royal Dutch Shell and then argue that it should be broken up into two entities.

His proposal is to spin out what he calls the “legacy business” and an “energy transition business” (the latter to include LNG, renewables, and energy marketing). His argument is that the company is currently satisfying few stakeholders (shareholders, ESG advocates, etc) by trying to do everything under one roof. 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.

Break-up calls and congressional hearings: Big Oil faces growing pressure to change

The Washington Post

Break-up calls and congressional hearings: Big Oil faces growing pressure to change

Ahead of the COP26 Summit, oil executives made a historic appearance on Capitol Hill and Shell faced a hedge funds’s call to split up its business.

By Taylor Telford: 29 Oct 2021 5:18 p.m. EDT

On the eve of a pivotal global climate summit, the world’s oil giants have been swamped by calls from activists, investors and lawmakers to move faster to transform their businesses, cut down greenhouse gas emissions and take responsibility for their role in the climate 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 Oil president pressed on whether warming is ‘existential threat’

The Washington Post

Shell Oil president pressed on whether warming is ‘existential threat’

By Maxine Joselow 12:04 p.m.

Gretchen Watkins, president of Shell Oil, would not concede under questioning that climate change poses an “existential threat” to the nation and the world, even as the oil company rolled out a new pledge to cut planet-warming emissions early Thursday.

“I agree climate change is one of the biggest challenges in the world today, which is why at Shell, we’re in action,” Watkins 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 vs. Dan Loeb: It’s open season for the market on Big Oil’s future

CNBC

Shell vs. Dan Loeb: It’s open season for the market on Big Oil’s future

PUBLISHED THU, OCT 28 20213:00 PM EDT UPDATED THU, OCT 28 202111:07 PM EDT Eric Rosenbaum@ERPROSE KEY POINTS
  • Dan Loeb’s Third Point Management has begun another high-profile activist campaign this time against Big Oil, calling for the breakup of Royal Dutch Shell into a legacy oil and gas company and separate business for renewable energy, among other units.
  • The Shell battle is at the heart of how an energy giant of the future shapes its business model during the energy transition and balances higher return fossil fuel projects with clean energy investment.
  • Former BP CEO John Browne said at the CNBC ESG Impact summit on Thursday that oil companies are now speaking the right language about carbon reduction, but the plans have no real meaning yet.

The surprise win earlier this year by activist firm Engine No. 1 of board seats at Exxon Mobil was a watershed event in Big Oil’s ability to control the climate narrative as investors push for change. But the stake revealed this week in Royal Dutch Shell by Dan Loeb’s Third Point Management activist investor firm may say more about how energy giants balance business models in the future to hang on to higher return, cash-generating legacy fossil fuel projects while investing in renewable energy. 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 fires back at investor attack branding Dan Loeb’s break-up calls “symbolism

Ben van Beurden… “It’s disappointing that long-term investors run away from a company leading in its field and trying to do the best for society, but we understand the symbolism.”

London Evening Standard

Shell fires back at investor attack branding Dan Loeb’s break-up calls “symbolism

By Simon Freeman: 28 Oct 2021

SHELL boss Ben Van Beurden today mounted a forthright defence against calls to split up his company, saying profits from its oil and gas operations will be vital in funding the transition to a low-carbon future. 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 boss defends plan to develop Cambo find off Shetland

Shell CEO Ben van Beurden

I think it is really disappointing that long term investors run away from a company…

The Herald

Shell boss defends plan to develop Cambo find off Shetland

By Mark Williamson Group Business Correspondent: 29 Oct 2021

ROYAL Dutch Shell boss Ben van Beurden has defended plans for the controversial Cambo oil field development off Shetland as he declared the UK North Sea is a global leader in terms of the energy transition.

Shell has faced huge criticism from campaigners after it emerged that the company planned to develop the massive Cambo field with Siccar Point Energy. 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 says break-up of group would not work in real life

REUTERS

Shell says break-up of group would not work in real life

  • Activist shareholder Loeb called for break-up of Shell
  • Investors question whether split would work
  • New climate target is absolute, not intensity-based

LONDON, Oct 28 (Reuters) – Royal Dutch Shell (RDSa.L) hit back on Thursday against an activist fund’s call for the company to break up, with top executives saying its businesses operate better together than apart.

Reporting by Shadia Nasralla; additional reporting by Svea Herbst Bayliss and Simon Jessop; Editing by David Gaffen, Jason Neely, Mark Potter, Barbara Lewis, Christina Fincher and Marguerita Choy 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 comes under attack from Wall Street raider

The Telegraph

Shell comes under attack from Wall Street raider

Third Point demands energy giant place oil operations into a separate business after taking £545m stake

Shell has come under attack from a Wall Street raider demanding a break-up of the oil and gas giant after taking a stake worth about $750m (£545m).

Dan Loeb’s Third Point said it had been “a difficult two decades” for shareholders in the FTSE 100 company, which it claimed was now torn between conflicting interests over climate change.

He believed Shell should put its oil and refining operations into a separate business focused on returning cash to shareholders. 

FULL ARTICLE 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.

‘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

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 in better shape to fund distribution increase

Investors Chronicle

Shell in better shape to fund distribution increase

The Anglo-Dutch group has reduced net debt markedly from pre-pandemic levels October 19, 2021 By Mark Robinson Extracts

Royal Dutch Shell (RDSB) used to be the world’s greatest source of dividend income, but that came to an end last year when oil prices tanked. A production spat between Saudi Arabia and Russia, exacerbated by an unprecedented slump in industrial demand, sent forward contracts into negative territory at one point. Share buybacks were promptly put on ice and the group’s quarterly distributions were pegged back for the first time in living memory. 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.

Methane emissions from oil and gas are even worse than previously thought

CBS NEWS

Methane emissions from oil and gas are even worse than previously thought

Recent research indicates that the fossil fuel industry is responsible for far more methane than previously believed.

Experts say slashing methane emissions

 is essential to staving off the worst effects of global warming, with the United Nations  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.
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