Oil giant Shell has announced a huge jump in profits amid growing calls for a windfall tax on oil and gas giants.
Royal Dutch Shell reported underlying profits of $9.1 billion (£7.2 billion) in the first quarter, up 43% on the final three months of 2021 thanks to soaring oil and gas prices.
The huge profits are likely to reignite calls for a windfall tax on energy giants. A one-off tax on BP and Shell alone could raise £9 billion for the Treasury, the Liberal Democrats estimate.read more
“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.read more
13:56, Wed, Apr 27, 2022 | UPDATED: 13:57, Wed, Apr 27, 2022
Both gas and oil prices had already been pushed up over winter as supply failed to keep pace with demand bouncing back from the pandemic. Since Russia’s invasion of Ukraine prices have been squeezed even further with oil soaring past $100 (£79.64) a barrel to heights of up to $130 (£103.52). The increased revenue from energy has helped deliver soaring returns for investors with the oil sector seeing dividends rise 29 percent in the first quarter of 2022 according to data firm Link Group. Link points to an “astonishing rebound in oil prices” which it says has “delivered a dramatic turnaround” for energy firms.
The contribution of energy firms helped drive up UK dividends by an average 12.2 percent on an adjusted basis.
Among the top 10 dividend payers for 2022 are Shell, BP and National Grid.
The growing profits for energy firms has attracted criticism given the UK’s current cost of living crisis with some calling for a windfall tax on the gains.
So far though the Government has dismissed the idea with Justice Secretary Dominic Raab calling the idea “disastrous”.read more
Mar 29th, 2022
by John Donovan.
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democracynow.org
BP, Shell, Exxon Among Oil Giants Who Have Paid $100 Billion to Russian Gov’t Since 2014
March 28, 2022
On Saturday, Ukrainian President Volodymyr Zelensky addressed the Doha Forum in Qatar, asking oil- and gas-producing countries to up their output to reduce reliance on Russian imports.
This comes as new data reveal Western oil giants including BP, Shell and Exxon have poured nearly $100 billion into Russian fossil fuel projects since its 2014 invasion of Crimea.
The analysis was released by Global Witness, Greenpeace USA and Oil Change International.read more
Shell’s boss had his pay cut after a string of gruesome deaths, including a gun attack on workers.
Ben van Beurden was docked £132,283 – ten per cent of his base salary – after the firm recorded eight deaths last year. A police officer and six staff from an engineering contractor died when gunmen attacked a bus convoy en route to a gas project in Nigeria.read more
Mar 7th, 2022
by John Donovan.
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Shell buys Russian oil days after saying it would limit business with the country for its ‘senseless act of military aggression’ against Ukraine
Bethany Biron:
Shell announced on Saturday it purchased Russian oil to prevent market interruptions and ensure supply security.
Shell previously said it would limit business with Russia, including divesting from Gazprom, a Russian majority state-owned energy company.
“We will continue to choose alternatives to Russian oil wherever possible, but this cannot happen overnight because of how significant Russia is to global supply,” Shell said.
Shell announced it purchased a cargo of crude Russian oil, just days after the oil giant said it would limit business with the country in response its “senseless act of military aggression” against Ukraine.
In a statement shared to Twitter on Saturday, Shell said it made “the difficult decision” to buy the oil from Russia — the world’s third-largest oil producer and a major gas exporter to Europe — citing concerns over market interruptions and supply security.read more
Mar 1st, 2022
by John Donovan.
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The Hindenburg, The Titanic and Shell Prelude FLNG
By John Donovan
A huge bomb the size of several aircraft carriers welded together is floating off the coast of Australia. It was never meant to be a bomb but is now deemed to be so dangerous, susceptible to an explosion, that it is on emergency shutdown after a fire.
This article is written in collaboration with a retired Shell Global HSE Consultant Mr Bill Campbell. For several years we have been jointly ringing alarm bells about the Shell Prelude FLNG project. read more
Shell said it would end all three of its joint ventures with Kremlin-backed Gazprom, including its 27.5 per cent stake in the huge Sakhalin-2 liquefied natural gas project…
The company’s Russia business was already contentious for some staff, not least because four Shell employees were among those killed when Malaysia Airlines flight MH17 was shot down over Ukraine in 2014.
Feb 28th, 2022
by John Donovan.
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The Telegraph
Shell abandons Russia and Nord Stream 2 pipeline
Oliver Gill, chief business correspondent
Rachel Millard
James Warrington
Giulia Bottaro
Shell has pledged to sever ties with the Kremlin by exiting its joint ventures with the Russian state-backed energy colossus Gazprom.
The oil giant said it will end its tie-up with Gazprom by selling its 27.5pc stake in the Sakhalin 2 liquefied natural gas (LNG) plant and will stop working on the Nord Stream 2 pipeline project, which Germany put on ice earlier this month.
Shell’s Russian assets were valued at $3bn at the end of last year.read more
BP has been forced to cut ties with the Kremlin-controlled energy giant Rosneft as it fuels Vladimir Putin’s assault on Ukraine.
The FTSE 100 oil giant will offload its 20pc stake in Rosneft, previously valued at $14bn (£10bn), and abandon its two seats on the board following pressure from the Government.
Bernard Looney, its chief executive, will step down from Rosneft’s board, as will Bob Dudley, the former BP boss, as it exits a three-decade venture in Russia.read more
Feb 27th, 2022
by John Donovan.
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BP to offload stake in Russian oil firm Rosneft
BBC Breaking News: 27 Feb 2022
BP is to offload its 19.75% stake in Russian state-owned oil firm Rosneft after Russia’s “act of aggression in Ukraine”.
The oil giant had come under pressure from the UK government to make the move since Thursday’s invasion.
It has held the shareholding in the Russian company since 2013.
BP chief executive Bernard Looney has resigned “with immediate effect” from the Rosneft board, as has fellow BP-nominated director Bob Dudley.read more
Feb 20th, 2022
by John Donovan.
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The Guardian/ The Observer
Oil and gas firms have unlisted links to Westminster
Shanti Das: Sun 20 Feb 2022
Lobbyists representing fossil fuel giants are quietly helping run parliamentary groups on energy and climate policy without the need to formally declare their involvement.
The trade associations, which are funded by oil and gas producers including Shell, BP and ExxonMobil, provide administrative and public relations support to groups of MPs.
Their roles are not included in official parliamentary transparency logs because of rules that say only benefits in kind above £1,500 a year must be recorded – a threshold the trade bodies say they do not meet.read more
Feb 19th, 2022
by John Donovan.
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The Guardian
The great greenwashing scam: PR firms face reckoning after spinning for big oil
A comprehensive study confirms that oil companies are largely all talk and no action when it comes to clean energy initiatives
Amy Westervelt: @amywestervelt: Fri 18 Feb 2022 11.00 GMT
This week a peer-reviewed study confirmed what many have suspected for years: major oil companies are not fully backing up their clean energy talk with action. Now the PR and advertising firms that have been creating the industry’s greenwashing strategies for decades face a reckoning over whether they will continue serving big oil. The study compared the rhetoric and actions on climate and clean energy from 2009 to 2020 from the world’s four largest oil companies – ExxonMobil, Chevron, Shell and BP.read more
London (CNN Business) – News that Britain’s biggest oil companies made $32 billion in profit last year is stoking calls for the UK government to impose a temporary tax on their earnings to help households pay soaring energy bills.
Reporting earnings on Tuesday, BP (BP) posted an annual profit of almost $12.9 billion. Shell (RDSA) reported a profit of $19.3 billion last week after what it described as a “momentous” year.
Profits at both companies have been boosted by a huge rebound in oil and natural gas prices after they collapsed at the start of the pandemic. The bumper earnings have allowed them to accelerate investments in lower carbon and renewable energy projects while also handing billions of dollars to investors in the form of dividends and share buybacks.
Between them, BP and Shell spent $7.7 billion buying back shares last year, and the windfall for investors looks set to continue.
BP said it expected to be able to deliver share buybacks of $4 billion per year, while Shell announced plans to hand back $8.5 billion to shareholders in the first half of 2022, including proceeds from last year’s sale of its assets in the Permian Basin in the United States.
The huge profits coincide with the announcement that energy bills for most UK households will rise by 54% in April, fueling a cost-of-living crisis that the Bank of England has forecast will mean the biggest drop in disposable incomes in decades.
FULL ARTICLE
Feb 5th, 2022
by John Donovan.
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The Observer/Guardian Online
£40bn profits for BP and Shell fuel calls for windfall tax on energy firms
‘Obscene’ amounts of surplus cash should be used to ease cost of living crisis, MPs told
Phillip Inman: Sat 5 Feb 2022 17.05 GMT
Oil giants BP and Shell are on course to make a combined profit of almost £40bn this year from the rocketing price of petrol and gas, fuelling calls for a windfall tax on energy firms to ease the cost of living crisis.
Before BP’s annual results this week, anti-poverty campaigners described the profits of oil producers as “obscene” and demanded the government take action to tax their surplus cash to support poorer families hit by rising energy bills.read more
Jan 31st, 2022
by John Donovan.
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The Telegraph
Oil and gas trade body drops ‘oil and gas’ from its name
By Matt Oliver: 31 January 2022 • 4:20pm
The trade group that represents UK oil and gas companies is dropping the words “oil and gas” from its name to reflect the ongoing rise of green energy.
Oil and Gas UK will be renamed Offshore Energies UK from February 14, the body said on Monday.
It follows a year-long strategic review by the group, which said the change reflects “the evolving nature of the industry”.
OGUK said its members, which include BP, British Gas owner Centrica, Shell and Chevron approved the name change in December.read more
on hold for over an hour!: Been on hold for over an hour now.
No idea what the customer service is like because I can't get through to anyone.
Why did you take over Post Office Broadband customers as you clearly don't have enough staff to cope?
Uncaring, horrible, hassling, profiteering bunch.: Uncaring, horrible, hassling, profiteering bunch.
I'm 80 with bipolar disorder
I am an 80 year old with multiple health issues and diagnosed with bipolar disorder.
These people at shell energy are disgusting.
I've been unable to log into my account for months. I live in a one bedroom flat and they are taking £250 per month from me, that's before the increases in October. Despite contacting them, I still can't log into my account. I've now been told my (not so) smart meter can't be reached and I have to provide monthly meter readings, when I can barely get down stairs from my flat to the meter because of mobility issues.
Worse than that, when I put my email address in to change my password and access the account, I was suddenly logged into an account in the name of Mr Knox, at an address I don't know, who they claim owes them £4,800 and hasn't made a payment in months. It's neither my name nor address.
This isn't my account, but it has my personal email address registered against it. Despite advising them of this, I received the standard 'we are receiving a high volume of messages' garbage. They have since emailed me another bill for the imaginary Mr Knox.
They are hassling me by sending me someone elses bills and bringing me to the verge of a mental breakdown. According to my son, £250, which they have taken from my bank EVERY month, is way too much for a one bedroom flat too, but I have no idea what I have used because my email logs me into another account in another area.
IF THEY DON'T SORT THIS OUT, I'M GOING TO HAVE A MENTAL BREAKDOWN. ASK MY DOCTOR.
Uncaring, horrible, hassling, profiteering bunch.
Useless broadband and company:
Useless broadband and company,40 minutes on hold on phone about my internet dropping all the time,told openreach would come on the Monday, NOTHING no call message or openreach. Sent email wanting to know how long I've left on contract as I want to leave them and get another provider NOTHING. I hate ringing up having to wait almost 40 minutes on hold only to talk to someone who don't have any idea what they talking about.
-By Zik Gbemre: SHELL'S NOTICE TO VACATE NIGERIA OVER UNENDING OIL THEFT: NOT GOOD FOR THE NATION
The rampant oil theft that is forcing Shell out of the Niger Delta, indeed out of Nigeria is one critical embarrassment that has overwhelmed a Federal Government that has failed in all sectors of the country.
The petroleum sector remains the only sector footing the entire bills of the country, yet attention is not being given to protecting it from ceaseless sabotage.
Against law-abiding citizens engaged in legitimate peaceful protests, trigger-happy security operatives will swing into action to crush any peaceful protest.
The common man is driving his car on the road, Police will act to intimidate him, with all manner of contorted allegations and threats, to extort him.
But then assign security operatives to check oil theft, they get so connected in no time and begin to aid and abet the oil theft they are mobilised at an outrageous cost to the nation. So, the Military and Nigeria Security & Civil Defense Corps (NSCDC) are as much connected to oil theft as the oil theft is connected to the host communities' leaders, oil company workers and contractors responsible for welding/clamping/clean-up/remediation contracts induced by vandalism.
They vandalise pipes and valves to steal crude oil and condensate and the more these occur the more contracts are awarded for repairs/clamping of pipelines and clean-up/remediation activities. So, a lot of people are connected to oil theft beyond those who sell and buy the stolen condensate and crude oil.
The fight against oil theft has become a lost battle as they sabotage with a huge economic toll on the commonwealth will continue to thrive, hence Shell has decided to quit her Niger Delta operations to concentrate on the 'deep sea offshore' of the Niger Delta that illegal bunkering syndicates can't access easily.
In other shades of oil theft, you have DPR staff that are supposed to keep records of production and volume exported also involved in under declaration of figures. A lot is happening behind the scene at the points of exports, in the terminals.
Even among key stakeholders like the Central Bank of Nigeria (CBN), Ministry of Petroleum Resources, NNPC and Accountant General of the Federation, it's an annual drama of conflicting figures when they are subjected to probe and accountability on the revenue generated from oil, condensate and gas, given a particular time frame.
Again, the violent youths, also known as restive youths, created by Niger-Delta politicians are also there to disrupt the operations of Shell (SPDC) and other oil companies. Because politicians are not accessible immediately after they win elections and can only engage a few as personal aides thereafter, the rest are going about wreaking havoc on oil companies which they look up to as alternative governments.
What's more, politicians and Public officeholders in the Niger Delta are only interested in the monthly allocations from Abuja from which they allocate outrageous portions into security votes that are never accounted for, contracts are inflated to syphon kickbacks into private vaults.
All of these stakeholders' knaveries are making onshore operations so unattractive to Shell and other International Oil Companies(IOCs). And it's not a good one if they have to leave.
By Zik Gbemre
July 13, 2022
Impossible to move home with them: I recently moved from a home where I was a Shell Energy customer, to a home that is also supplied by Shell Energy. After 5+ calls and emails promising me my account and most importantly, my tariff, would be carried over, they have failed to do so and they are now ignoring my emails. Their customer service is absolutely diabolical.
Truly awful cancellation experience: Firstly i have no problem with the broadband quality and general customer service but i have just had a horrendous experience trying to cancel my contract in favour of virgin. i made it very very very clear i just wanted to cancel but the bloke insisted endlessly on try to persuade me otherwise to the point where i was getting proper stressed out. i won't ever go back to Shell
Rubbish Company: Where do I start ... AGAIN! Just received ANOTHER message from you regarding my account! Advising me to contact debt management company!. I am, as I keep TRYING to tell you, I'm on Universal Credit but, at the moment I've been sanctioned until the end of July, and also have a hardship fund payment of £*** which I have to pay back until next February! I have no money for all my usual bills off-line this one, so maybe YOU can tell me how I'm supposed to pay this bill with no money! I can't even afford to buy food to last me a month. I have NO MONEY! If Green Star Energy I ad sorted out this problem in the 1st place, I wouldn't be in this mess! Unfortunately I don't have a money tree in my garden, not do I have a money making machine. I'm as poor as a church mouse! I haven't had enough money for 3 years now!
Is anyone else having problems with this company?
I'll say no more!
Sylvia Holmes: Was with the Post Office broadband until Shell took over.
Was emailed to activate my account which I did , WiFi went off.
Called several times was kept waiting for someone to answer, must now total 4 hours +.
Eventually Ayisha answered must be a fault on the line from the exchange. Then router not recognised! Engineer appointment was made for 31/5/22 — 8am till 1 pm
No show.
Rang again why no show..Naeem says I’ll transfw you to the technical team ..was cut off.
Emailed customer help, reply line is ok , reset your router with a pin, check your wires are fully in the plug.
Pat, said she will contact outreach either Tuesday or Wednesday.
Meanwhile I’m without WiFi?
What’s occurring Shell?
Bogus Group: The Offshore Alliance and the Electrical Trades Union (ETU) have both served Shell with formal notice that industrial action will commence on the Prelude FLNG facility on 10 June.
Awful company who don't listen or care about customers!: I've had an utter nightmare with Shell. After I inherited my fathers house in Jan they have been nothing but trouble.
I called them within a week of the house being put in my name and told them I do not live near the house and to put the account in my name and send any bills to my address. I made it very clear that I would be paying any bills, was happy to do so, and where to send them. Fast forward to early April, we visit the house to find bill after bill addressed "to the occupier".
Again I got in touch right away and told them the NEED to put the account in my name as I won't be visiting the house again as it was set to sell at the end of April. I spoke to a representative who said "No worries, just call us when the house sells and we will settle the account". I did just that and paid them. However I've checked my credit score and have multiple negatives which are now preventing me getting a mortgage. As if dealing with the death of a parent isn't difficult enough Shell have now prevented me getting a mortgage for the next 7 years!!
Listen and read proof in audio and transcript form of Shell CEO Ben van Beurden’s cover-up tactics in the OPL 245 Nigerian corruption scandal. The instruction given by him in the covertly recorded call to CFO Simon Henry was at odds with Shell’s claimed core business principles. Cover-up and obstruction, instead of transparency and integrity, says Shell critic John Donovan
JOHN DONOVAN TV DOCUMENTARY INTERVIEW
SHELL EXECUTIVES AT THE CENTER OF A SCHEME TO STEAL $1.3 BILLION FROM NIGERIA’S PEOPLE
SHELL ADMITS DEALING WITH NIGERIAN MONEY LAUNDERER – BBC NEWS
SHELL, ENI AND NIGERIAN OFFICIALS IN OPL 245 CORRUPTION SCANDAL
INVESTIGATION OF OPL 245 NIGERIAN OIL CORRUPTION SCANDAL
DUTCH EARTHQUAKES CAUSED BY SHELL/EXXON
SHELL KILLS FOR OIL IN NIGERIA
ESTHER KIOBEL SUES SHELL FOR COMPLICITY IN HUSBANDS MURDER
ESTHER KIOBEL: EVIL OIL GIANT SHELL COLLUDED IN THE EXECUTION OF MY INNOCENT HUSBAND
SHELL LIED ABOUT CLEANING UP OIL IN NIGER DELTA
SHELL SPIES INFILTRATED NIGERIAN GOVERNMENT
LEGO DROPS SHELL OVER GREENPEACE OIL SPILL VIDEO
SHELL ARCTIC DRILLING ACCIDENTS
SHELL KNEW ABOUT CLIMATE CHANGE DECADES AGO
ABANDONED BY SHELL: KEITH MACDONALD & FAMILY, VICTIMS OF RADIOACTIVE CONTAMINATION AT WORK
ROYAL DUTCH SHELL FOUNDER SIR HENRI DETERDING, NAZI FINANCIER
JOHN DONOVAN PROMOTIONAL GAMES FOR SHELL AND OTHER CLIENTS
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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OVER 500 EXTERNAL PUBLICATIONS CITING OUR SHELL WEBSITES
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 websiteetc. 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.
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