News and information on Royal Dutch Shell Plc
CITYA.M.
Shell suffers blow as investor group withholds approval for energy transition plan
Shell’s battle to gain approval for its energy transition plan has suffered a heavy setback, as a major investor announces its intention to abstain on a key resolution at the firm’s upcoming annual general meeting.
Royal London Asset Management (RLAM), which holds a £1.2bn stake in the energy giant, has criticised the oil and gas trader’s climate transition plans.
CITYA.M.
Activist investor prepares to take on Shell over climate targets
Shell is preparing for a shareholder showdown at its upcoming general meeting later this month, with activist group Follow This pushing the energy giant to commit to more stringent environmental targets.
It has warned shareholders that Shell’s current transition plans are not aligned with the Paris Agreement, and has filed a motion – resolution 21 – calling for the oil and gas major to publish targets that cover short, medium and long term emissions in both its operations and the use of its energy products.
The Telegraph
Energy bosses are provoking Sunak into another ruinous tax raid
BP chief executive may live to regret calling his company a ‘cash machine’: Shell unveiled a quadrupling of profits and a bumper payout for shareholders. Chief Ben van Beurden sounded cock-a-hoop. It had been “a momentous year”, he declared.
: CHIEF CITY COMMENTATOR:You’ve got to hand it to the bosses of Britain’s energy giants. The response of the industry’s top figures to growing calls from the Labour Party, trade unions, and eco-activists for a windfall tax has been so risible that a Conservative Government is now said to be warming to the idea, having repeatedly ruled it out.
The Guardian
Revealed: the ‘carbon bombs’ set to trigger catastrophic climate breakdown
Exclusive: Oil and gas majors are planning scores of vast projects that threaten to shatter the 1.5C climate goal. If governments do not act, these firms will continue to cash in as the world burns
by Damian Carrington and Matthew Taylor: Wed 11 May 2022
The world’s biggest fossil fuel firms are quietly planning scores of “carbon bomb” oil and gas projects that would drive the climate past internationally agreed temperature limits with catastrophic global impacts, a Guardian investigation shows.
The New York Times
Oil Giants Sell Dirty Wells to Buyers With Looser Climate Goals, Study Finds
The transactions can help major oil and gas companies clean up their own production by transferring polluting assets to a different firm, the analysis said.
: May 10, 2022
When Royal Dutch Shell sold off its stake in the Umuechem oil field in Nigeria last year, it was, on paper, a step forward for the company’s climate ambitions: Shell could clean up its holdings, raise money to invest in cleaner technologies, and move toward its goal of net zero emissions by 2050.
Shell plc Annual General Meeting – Clarification statement regarding Resolution 20
Shell plc (the Company) would like to provide further clarification to shareholders regarding Resolution 20 – the Company’s Energy Transition Progress for the year 2021.
Shell recognises and values the importance of shareholder engagement when considering its energy transition progress. In 2021, shareholders overwhelmingly supported the Shell Energy Transition Strategy, reflected through an advisory vote at the 2021 Annual General Meeting. The Company engaged extensively both before and after this shareholder vote. Insight on this engagement was provided on pages 141, 142 and 143* (see note below) of the Company’s 2021 Annual Report. The Board is grateful for the time and contribution of all those shareholders who provided feedback, and for the broad indications of support for Shell’s strategy.
Evening Standard
Wall Street activist Dan Loeb says Shell risks becoming ‘tarnished’ unless it heeds his break-up call
Loeb’s Third Point Investors has been pushing for a break-up of Shell, calling its current business ‘confusing and unmanageable’
By Oscar Williams-Grut City Editor @OscarWGrut: 9 May 2022
The Wall Street activist pushing for a break-up of Shell has raised his stake in the business and said the oil giant risks becoming a “tarnished legacy brand” without reform.
CITYA.M.
Dan Loeb adds to Shell stake despite doubling down on break-up calls
CHARLIE CONCHIE: SUNDAY 08 MAY 2022 12:29 PM
Activist investor Daniel Loeb has revealed he has added to his stake in energy giant Shell despite doubling down on calls for a shake-up to the energy major’s corporate structure.
Loeb, who revealed in October that his hedge fund Third Point had taken $750m stake in Shell, told his investors last week that he had upped his stake in the firm and had held discussions with the firm’s bosses.
The Telegraph
Shell and BP should plough every spare penny back into the North Sea
“Another day, another oil and gas company making billions in profits,” decried Ed Miliband after Shell’s latest profit gusher. Yes, and another predictable call for a windfall tax from opposition politicians desperate to win votes.
As bandwagons go, there have been plenty of opportunists keen to clamber aboard this one, in a week when local elections are taking place up and down the country.
Still, Shell and BP only have themselves to blame. It’s not that a windfall tax is necessarily justified. It isn’t. Ironically, by neglecting Britain’s energy security, a succession of short-sighted political figures, including some of those now bleating about the injustice of today’s profiteering, have probably done more to help create the current energy crisis than the industry itself.
Reuters
Shell obtains injunctions against U.K. climate protests
Shell has obtained injunctions from U.K. courts that pave the way for protesters to be fined or put in prison if they block or damage petrol stations and other oil facilities in England and Wales, the firm said on Friday.
The move follows several protests in recent weeks by climate activists such as Extinction Rebellion and Just Stop Oil.
It mirrors steps taken by other oil firms including Exxon that were backed by Britain’s business department, which says the right to protest should not cause disruption to people’s everyday lives.
FORTUNE
Fossil fuel companies like Shell and BP are raking in massive profits, and this could be just the beginning
BY TRISTAN BOVE: May 5, 2022 8:33 PM GMT+1 Oil prices have been soaring this year, as Western sanctions hit the Russian economy hard, disrupting the global oil supply from one of the world’s largest producers. But while high gasoline prices at the pump make life difficult for consumers, fossil fuel companies are making a killing.Since the Russian invasion of Ukraine over two months ago, Brent crude, an international benchmark for oil pricing, has surged past $100 a barrel, the highest oil has sold for since 2012.According to the latest round of quarterly reports from the world’s largest oil and gas companies, the fossil fuel industry has been benefiting massively from this surge. Demand for energy this year has soared as economies rebound from historically low demand during the pandemic, and coupled with a constrained supply from Russia, one of the world’s largest fuel exporters, the rest of 2022 could be just as profitable for fossil fuel companies.
The Guardian
Shell profits soar to $9.1bn amid calls for windfall tax
Record quarter piles pressure on government to issue one-off levy to curb rising energy billsShell’s update comes after BP reported its highest quarterly profit in more than a decade on Tuesday. Its profits more than doubled to $6.2bn, and sparked a clamour for a windfall tax.
The government has resisted calls for such a levy. Boris Johnson has said it would discourage oil and gas producers from making investments into domestic energy.
But BP’s chief executive, Bernard Looney, has admitted none of the £18bn UK investments the company is planning would be dropped if a windfall tax were imposed.
Shell plc publishes first quarter 2022 press release
| Source: Shell plc
London, May 5, 2022
“The war in Ukraine is first and foremost a human tragedy, but it has also caused significant disruption to global energy markets and has shown that secure, reliable and affordable energy simply cannot be taken for granted. The impacts of this uncertainty and the higher cost that comes with it are being felt far and wide. We have been engaging with governments, our customers and suppliers to work through the challenging implications and provide support and solutions where we can.
The Guardian
High energy prices leave oil giants untroubled by Russia exit or tax hints
BP and Shell are expected to report increased profits this week despite taking a big hit from the war in Ukraine
Rob Davies @ByRobDavies: Sun 1 May 2022
“May you live in interesting times,” runs the saying, supposedly an English translation of an ancient Chinese curse.
For BP and Shell, the British companies that account for two of the world’s seven oil “supermajors”, the first quarter of 2022 has been painfully fascinating.
Shell to acquire Sprng Energy group, one of India’s leading renewable power platforms
Apr 29, 2022
Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), today signed an agreement with Actis Solenergi Limited (Actis) to acquire 100% of Solenergi Power Private Limited for $1.55 billion and with it, the Sprng Energy group of companies.
Sprng Energy supplies solar and wind power to electricity distribution companies in India. Its portfolio consists of 2.9 gigawatts-peak1 (GWp) of assets (2.1 GWp operating and 0.8 GWp contracted) with a further 7.5 GWp of renewable energy projects in the pipeline.
Daily Mail
Friends of the Earth warns Shell directors they face personal liability if energy firm doesn’t clean up its act
Shell directors risk ‘personal liability’ if they fail to boost the energy giant’s green credentials, an environmental group has claimed.
The threat to senior figures, including chief executive Ben van Beurden, was made in a recent letter from Friends of the Earth’s Netherlands branch, Milieudefensie.
: Hate Shell
Not only are they ripping me off with illegal energy price rises covered up by accounting for them as near doubling of the standing charge. But they are now antagonizing me further with pathetic customer service. I can download my latest bill but its corrupted so I can't read it. So I have to contact customer services. Firstly I tried the online chat and was connected to an idiot bot then left hanging for ages and gave up and decided to call. Their phone system must have been designed by a moron who wants to antagonize me as much as possible with menu after menu after menu before not connecting me to a human but leaving just hanging on until I finally gave up. Why don't Shell try spending some of their obscene earnings on looking after their customers?
I have just tried emailing them from their website, its another total disaster area where it blocks my trying to send an email by forcing me to pick a totally unconnected topic from a drop down menu, which then starts me off on another totally unconnected route. Morons!!!!
: Avoid.
Passed to shell energy from pure planet. Didn't transfer over credit, unhelpful call centre staff, horrible call centre waiting times blamed on covid but obviously understaffed.
: price cap.
If I could give minus 5 stars i really would. I didnt ask to join shell energy, sadly i was transferred over from green energy. The new rate for electricity set by ofgem is 28p
per kwh, shell have decided for what ever reason to charge me 31.5 pence per KWH. Goodbye Shell energy.
: Absolutely hopeless
Was moved to Shell energy kept getting estimated bills despite assurances that they could read my meters even complaints team misled me by saying we can read both your meters, then another overestimated bill today. When I called them was told can't read your meter. This has been going on for ages. Appalling service
: gave shell a reading on 27/0-4/22, still…
gave shell a reading on 27/0-4/22, still have not recived a bill, tried to contact them cant get through, a complete waste of time,
: With all this negative sentiment about Shell I was just wondering how this page is sustained. I presume it is backed financially by groups like Greenpeace etc or some other radical anti fossil fuel group. Must take a full time job to do all this.
REPLY BY JOHN DONOVAN
Shell first complained about our use of online activities by my late father and me in March 1995 No other party has ever funded any of our websites. We have never solicited or accepted donations. There are no subscription charges. The only income is from advertising which does not cover costs. Shell is welcome to sue for libel if it ever believes it has grounds to do so. So far the libel actions have always been by us against Shell and settled by Shell in our favour. Shell also settled four high court claims we brought for breach of contract and breach of confidence. Those are some of the claims mentioned in Shell's rabid press release which led to the first libel action.
: AVOID SHELL AT ALL COSTS!!!
You don't deserve any stars, as a previous Post office customer for my landline, which has since been taken over by shell energy, you have cut my mum off who is 73 year old for no reason. numerous phone calls haven't resolved the issue, nobody know what they are doing, GET MY MUMS PHONE LINE BACK you bunch of XXXX!!!
: Useless. Fitted a smart meter that doesn’t work. No timeline for a fix, no communications about the issue. No update on my bills. Direct Debit still sat at pre price cap increase level.
: Use another provider
Got moved to these cowboys as previous supplier went bust! Just transferred to another supplier as Shell Energy over doubled my DD and installed smart meters that don’t work! Their customer service is nothing better than useless, brain dead morons reading from a script who don’t want to know or listen. Obviously these big companies pay back handers to regulators to get away with what they do!
Absolute thieves, be warned!
: Very poor!
Their app is a completely useless. Everytime I try to log on, I have to give my email and password then reply to my email so I can log on. I hate having to go into my account because it is so much hassle.
: DOUBLED my monthly DD for no reason
They put my direct debit up from £80 to £166 despite being in credit. Online I could not change it to less then £130.... When I called I was told my projected spend was £81 a month....
If they charge more for not having a DD set up and just paying what you owe monthly.... they should refund any overpayment you make every month. Why should money I need for food be sitting in Shell energy's Bank account?????
:
My parents were forced to go to shell energy after they bought out the post office phone company. She was not billed for 3 months then when she tried to contact them she didn't get through for 3 days after being hung up on. Today she got through then was told by some vindictive over important receptionist that she would have to be put through to another department. But who has over an hour to waste waiting for someone to pick up. This company is a joke and I will find them another wifi/phone service they make billions of pounds profit yearly but still try to don't the ever day person out of money. Totally corrupt self-centred company and I advise all those considering this dictatorship to reconsider
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This is not a Shell website. That fact should be abundantly plain from the overall content of this home page and our sister Shell focussed websites, including shellnazihistory.com. Click on the Disclaimer link at top of this page for more information. You Can Be Sure Shell does not endorse or approve of this website. There are no subscription charges nor do we solicit or accept donations. It is an entirely free to use website drawing attention to the negative side of Shell while also publishing positive news about the company. The Shell logo image with the white text used on this website, as per the above example, is in the public domain because its copyright has expired and its author is anonymous. It can be found here on WIKIMEDIA COMMONS. Our shellenergy.website republishes Shell Energy customer complaints posted on Trustpilot where there is an ample supply. Use this link for Shell’s own website.
See our link list of over 500 articles by the FT, Wall Street Journal, Reuters, Bloomberg, Forbes, Dow Jones Newswires, New York Times, CNBC etc, plus UK House of Commons Select Committee Hansard records, information on U.S. Securities & Exchange Commission website etc. all containing references to our Shell focussed websites, or our website founders Alfred and John Donovan. Includes TV documentary features in English and German, newspaper and magazine articles, radio interviews, newsletters etc. Plus academic papers, Stratfor intelligence reports and UK, U.S. and Australian state/parliamentary publications, also citing our Shell websites. Click on this link to see the entire list, all in date order with a link to an index of over 100 books also containing references to our non-profit websites and/or our activities.
John Donovan, the website owner
