News and information on Shell Plc
Daily Mail: MailOnline
Energy giant Shell posts ‘momentous’ £12BILLION profits as millions face soaring bills and cost-of-living crisis
Shell has increased its profits nearly fourteen-fold to £12billion amid soaring oil and gas prices – with the energy giant revealing a bumper three months on the same day that the UK price cap is set to rise by around £650.
CNBC
Oil major Shell reports sharp upswing in full-year profit, raises dividend and buybacks
Sam Meredith@SMEREDITH19: PUBLISHED THU, FEB 3 20222:08 AM KEY POINTSOil giant Shell on Thursday reported a sharp upswing in full-year profit, beating analyst expectations on rebounding commodity prices.
The British oil major posted adjusted earnings of $19.29 billion for the full-year 2021. That compared with a profit of $4.85 billion the previous year. Analysts polled by Refinitiv had expected full-year 2021 net profit to come in at $17.8 billion.
For the final quarter of 2021, Shell reported adjusted earnings of $6.4 billion.
NETHERLAND NEWSLIVE
Milieudefensie: appeal from Shell climate case at the earliest in 2023
eddieanderson: 1 Feb 2022
Shell and Milieudefensie will face each other again in court in the spring of 2023 at the earliest. When exactly, will become clear in November of this year, Milieudefensie reports. The organization has discussed the planning with Shell’s lawyers and published the planning for the appeal in the climate case. This shows that the first step towards handling the case will be taken at the end of March. Shell may then explain on paper what objections it has against the court’s decision.
MIRROR EXCLUSIVE: Oil giants BP & Shell rake in £7billion profits as Brits facing energy bills rise shiver
According to analysis, Shell could reveal profits of almost £4.3billion and BP of almost £3billion in the final three months of last year. Meanwhile, ordinary families are struggling to pay their bills
By Graham HiscottHead of Business
Oil goliaths Shell and BP are set to spark fury by raking in more than £7billion profit between them in just three months, while households are reeling from a cost of living crisis.
The bumper haul will reignite calls for a windfall tax on firms making a packet out of the surge in wholesale energy prices.
skynews
Embattled Johnson assembles new slate of business advisors
Mark Kleinman: City editor @MarkKleinmanSky: Monday 24 January 2022 17:03, UK
The bosses of some of Britain’s biggest companies have been invited to advise Boris Johnson amid suggestions that some executives are taking a more cautious approach to an affiliation with the embattled prime minister.
Among those sounded out about joining the new council are Ben van Beurden, the Shell chief executive; Dawid Konotey-Ahulu, the founder of Redington, a pensions and insurance advisory firm; and Anita Frew, the Rolls-Royce chair.
London Evening StandardBy Simon Freeman: 20 Jan 2022
ROYAL DUTCH SHELL’s CEO Ben van Beurden today described a court ruling from The Hague ordering faster, deeper cuts to the company’s carbon emissions as a “body blow”.
In comments likely to provoke controversy among green activists, he said: “I was listening at home as the judge gave her verdict. It felt like a body blow.
“I found it deeply troubling that Shell as a single business should be held accountable for how the world produces and uses energy.”
EVENING STANDARD
City comment: Gas crisis could leave Shell CEO Ben van Beurden hot under the collar
By Oscar Williams-Grut City Editor: 7 Jan 2022
John F Kennedy once said: “In a crisis, be aware of the danger — but recognise the opportunity.”For Shell CEO Ben van Beurden and his colleagues, the opposite might be true: when grasping opportunity, be aware of the danger.
The oil major today told investors that profits from its gas trading business were set to be “significantly higher” thanks to surging prices. In the same update, Shell announced plans to return another $5.5 billion to investors through a buyback.
POLICE INSPECTOR DEMANDS INFORMATION FROM SHELL?
By John Donovan: 31 Dec 2021
I have received emails purportedly sent to me and others by a police inspector from Sama Police Station in Vadodara City, India.
The emails contain serious allegations against Shell.
The emails may be fake or genuine.
The irate police inspector in question, N.H. Brambhatt seems keen to get into contact with Shell. He seems to have reached the conclusion that Shell is frustrating the progress of his enquiries.
Earlier today I sent the following email to Mr Donny Ching, the Legal Director of Royal Dutch Shell Plc (but not for much longer).
Can we still be friends? Shell sends Dutch PM parting note
AMSTERDAM (Reuters) – On the day that shareholders of Royal Dutch Shell PLC voted to move the company’s headquarters to London from The Hague, the company sent a letter to the Dutch prime minister to soften the blow.
Signed by Shell CEO Ben van Beurden, the letter said Shell’s departure had been “a difficult message for us to announce,” given the company had more than a century of history.
But the letter to Prime Minister Mark Rutte outlined the many projects and activities Shell will continue in the Netherlands, including retaining 8,500 employees, and the division-level management of Shell’s upstream (production), renewable energy and projects & technology divisions.
REUTERS
Royal Dutch Shell shareholders back plan to shift to London
By Toby Sterling and Ron Bousso: December 10, 2021: 11:34 AM GMT
ROTTERDAM/LONDON, Dec 10 (Reuters) – Royal Dutch Shell PLC (RDSa.L) shareholders voted overwhelmingly on Friday in favour of a plan to end the company’s dual share structure and move its headquarters to London from The Hague.
With roughly 58% of outstanding shares cast, a preliminary tally showed 99% of shareholders supported a special resolution enabling the corporate structure change.
Shell shareholders vote on move to London
Shareholders in oil giant Shell will vote Friday on plans to switch its headquarters from the Netherlands to Britain after a century and drop Royal Dutch from the name.
Europe’s biggest energy firm says the move would simplify its tax and share arrangements, and accelerate its transition to net-zero emissions.
But its chairman also admitted the plan was driven by the Dutch government’s scrapping of plans to withdraw a tax on dividends.
The Dutch government said it was “unpleasantly surprised” by the plan, while Britain has hailed it as a vote of confidence in the British economy post-Brexit.
Extract from the Seeking Alpha article by Fluidsdoc dated 7 Dec 2021:
Royal Dutch Shell: The Wind Farm At The End Of The Universe
The Prelude debacle
Shell gets a lot of credit for being an able and experienced project manager, and when it’s their core business, they are. By comparison, Prelude, an FLNG project, has to be considered a financial and technical disaster by any measure, and a lot of that involves mistakes by Shell. An article from last year notes-
While the Prelude did export LNG at about half its capacity for the second half of 2019, it is now idle.
The Sunday Times
Shell pulling the plug on the Cambo North Sea oilfield is a problem for us, too
Oliver Shah Sunday December 05 2021, 12.01am, The Sunday TimesYou can’t be sure of much when it comes to Shell these days — and Shell, it seems, can’t be sure of anything when it comes to politics. Last month, chief executive Ben van Beurden was fêted for moving the oil major’s headquarters from Holland to London as part of a simplification of its corporate structure.
On Thursday, Shell pulled out of a major oil project in a storm of recrimination, saying the economics were “not strong enough at this time” and complaining of “potential for delays”.
The Sunday Times
Virtue-signalling over oil development is hypocrisy
Michael Glackin: The Sunday Times
Three months ago, Simon Roddy, upstream director at oil major Shell, warned that the very future of the UK oil and gas industry was at stake in the row over the Cambo oil project.
Roddy insisted Shell’s investment in greener energy sources and emissions reduction on rigs relied on investors having certainty about the rules on oil and gas development.
This year, Roddy’s boss, Shell chief executive Ben Van Beurden, offered a similar defence of the scheme, arguing that the investment was needed to meet continuing demand for oil and gas.
Bloomberg
Shell won’t abandon green transition in face higher oil prices, says CEO
December 1, 2021
LONDON (BLOOMBERG) – The oil and gas market may be tightening amid historically low investment levels, but that won’t change Royal Dutch Shell Plc’s strategy to shift from fossil fuels, the firm’s chief executive said on Tuesday (Nov 30).
Shell is one of many European majors that have pledged to shrink its traditional hydrocarbon business, while increasing investments in clean energy. While some critics have raised concerns that high oil prices might tempt these firms to stick to fossil fuels, chief executive Ben van Beurden said Shell is adhering to its energy transition strategy.
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
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