…the Square Mile today claimed the new year will be a “new dawn” for Royal Dutch Shell… time to snap up Shell because its new boss, Ben van Beurden, who started this month, will put its house in order.
Last year wasn’t great for oil majors — they underperformed the whole market — but the Square Mile today claimed the new year will be a “new dawn” for Royal Dutch Shell.
City slickers at Exane BNP Paribas said it is time to snap up Shell because its new boss, Ben van Beurden, who started this month, will put its house in order.
Exane predicted Shell will sell off more assets this year and have a “more shareholder-friendly approach” with more dividend payouts and be better “disciplined” with its cash.read more
FROM OUR NEWS ARCHIVE: LONDON EVENING STANDARD Wednesday, 27 October 2004 page 42 BUSINESS SECTION
SPEAKING OUT
“I’m convinced we have a lot of strengths. All of us are deeply ashamed about what happened about the reserves, but we are determined to regain our, position.”
– Shell chairman Jeroen van der Veer on the oil giant’s attempts to put its misdemeanours behind it
“Watts only ended his 35-year career with Shell because he was forced out over the 2004 oil reserves fiasco. News that the company had been overstating its reserves by 20 per cent caused Shell’s stock prices to fall by $15bn — yet Watts still walked away with a £1 million pay-off and a pension of more than £500,000 per annum…”
It’s not just Justin Welby – oiligarchs beat the path from profit to pews
5 November 2012
From Mammon to God. The Church of England seems to be flooded with former oil men at present.
Last week Justin Welby, who spent 11 years working as an oil executive, was appointed as the new Archbishop of Canterbury. What’s less well known is that another big name in oil has received a clerical promotion. Sir Philip Watts, Shell’s former chairman, is to become priest in charge at Waltham St Lawrence, Berkshire, after being a curate at another local church.
Although they worked in the same industry, the two men’s paths to salvation have been rather different. While Welby voluntarily swapped the high pay for pews because he was “unable to get away from a sense of God calling”, Watts only ended his 35-year career with Shell because he was forced out over the 2004 oil reserves fiasco. News that the company had been overstating its reserves by 20 per cent caused Shell’s stock prices to fall by $15bn — yet Watts still walked away with a £1 million pay-off and a pension of more than £500,000 per annum.read more
London Evening Standard: Market Report: SPEAKING OUT
“All of us are deeply ashamed about what happened about the reserves, but we are determined to regain our position. — Shell chairman Jeroen van der Veer on the oil giant’s attempts to put its misdemeanours behind it”
Market Report
By Mickey Clark
27 Oct 2004
“I’m convinced we have a lot of strengths. All of us are deeply ashamed about what happened about the reserves, but we are determined to regain our position.”
— Shell chairman Jeroen van der Veer on the oil giant’s attempts to put its misdemeanours behind it.
RELATED ARTICLE
Financial Times: Not clammed shut
“Jeroen van der Veer remains refreshingly candid even after all Royal Dutch/Shell has been through this year.”: “We are like the schoolboy standing in the corridor outside the classroom.
By Clay Harris
Published: October 27 2004
Jeroen van der Veer remains refreshingly candid even after all Royal Dutch/Shell has been through this year.
Asked at a conference about the International Energy Agency’s call for governments, regulators and corporations to unify energy reserves accounting, he said: “We are like the schoolboy standing in the corridor outside the classroom. I don’t think it is for us to lead the charge of new rules on reserve accounting, we shall leave that to others. But whatever the rules are, we will comply with them.”read more
The momentum gained by the Government’s war on executive pay meant it was bound to claim some victims. The only surprise is that Sir Bill Gammell has become its first. As the chief executive of Cairn Energy, he was a stock market darling. The success he enjoyed after buying an unwanted Indian exploration site from Royal Dutch Shell has passed into oil industry folklore.
Cairn, which now has a market value of £4 billion, can thank the £4.5 million acquisition of an Indian exploration site for its good fortune. Sir Bill, a former Scottish rugby international, saw potential there after the big boys had given up trying. A similar spirit has given it the confidence to hunt for oil in far-flung corners of the world such as Greenland.read more
Just two years after Shell faced one of the biggest rebellions ever seen over pay at a FTSE 100 company, the oil major today rewarded chief executive Peter Voser with a 19% increase in his pay packet.
Last year, the oil giant froze its executive pay-outs in response to investors in 2009 voting down its plans to award millions of pounds of shares to bosses despite missing performance targets.
Today, however, in its annual report, Shell said that last year Voser was rewarded with a 19% jump in remuneration, with his 1.5 million (£1.3 million) salary being supplemented with a 3.75 million bonus. That took his total pay to 5.25 million, up from 4.4 million the previous year.read more
Printed below in an article published today by the London Evening Standard, plus a related letter I sent to Members of Parliament in 2004 on the same subject.
London Evening Standard
Recession puts Hakluyt spies out in the cold
Rosamund Urwin 15.01.10
British intelligence group Hakluyt & Company warned today of a drop in revenues this year after businesses cut back on spying on their rivals in the recession.
But the Mayfair-based firm, which has been described as a retirement home for ex-MI6 officers and whose boardroom roll reads like a Who’s Who of the City, said demand for corporate spooks had started to pick up again.read more
London Evening Standard: Shell mulls £2.2bn power stake sale
“TROUBLED oil major Shell is said to be considering selling its share of global power venture InterGen for an estimated $4bn (£2.23bn).”
Tom Nicholls,
2 September 2004
TROUBLED oil major Shell is said to be considering selling its share of global power venture InterGen for an estimated $4bn (£2.23bn).
‘We are continually reviewing our portfolio of assets, including our shareholding in InterGen, to meet changing market conditions and to release capital to fund growth opportunities,’ the company said.
Under the leadership of Jeroen van der Veer, who took over from Sir Philip Watts as chairman of the committee of managing directors in March following the oil and gas reserves reporting scandal, the company has been selling off underperforming and non-core assets.read more
London Evening Standard: Shell in the bid spotlight as oil price keeps climbing
“reports suggested top brass at scandal-struck Shell think a bid may be on its way from France’s Total.”
Market Report by Sarah Marks
16 August 04
OIL companies should be back on the march once again this week, as the price of crude raced to new record highs today.
But it was not just that familiar tale that will be sparking interest in the sector. Weekend reports suggested top brass at scandal-struck Shell think a bid may be on its way from France’s Total.
Such a deal would be one of the few combinations of the major companies in the industry that would not evoke the ire of the competition authorities.read more
ANGLO-Dutch oil giant Shell is likely to unify its complicated dual-board structure as part of its reforms to appease shareholders.
Operating company Royal Dutch/Shell, which is 60% owned by Royal Dutch and 40% owned by Shell, is reported to be planning to merge the boards as a ‘minimum’ concession.
Shell said ‘all options are being considered including a unified board to which a chief executive would report’.
Radical changes could involve the full merger of the two holding companies. The oil firm has been forced to review all aspects of its governance after admitting it overstated oil reserves.read more
London Evening Standard: Hewitt set to sign China trade deals
11 May 2004
TRADE Secretary Patricia Hewitt was today set to sign contracts worth £850m with her Chinese counterpart, Bo Xilai, for British companies working in China.
The deals cover link-ups between BP and Royal Dutch/Shell and two Chinese oil companies. They also involve DIY retailer Kingfisher and a Chinese home appliances maker.
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.
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
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
ROYAL DUTCH SHELL FOUNDER SIR HENRI DETERDING, NAZI FINANCIER
JOHN DONOVAN PROMOTIONAL GAMES FOR SHELL AND OTHER CLIENTS
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
Customer Service NON EXISTENT: Received letter stating engineer would be out between 1-6pm no one turned up, not even a call,to my mobile. Called customer services to find out when engineer would be out and was told I didn’t need one and was connected. I said I was 89yrs and couldn’t get down to switches and didn’t know how to connect to WiFi, they hung up on me. Called again for complaints to let them know how I was treated and would be expecting the £25 credit which states on their website you receive for engineer not showing up, she hung up on me again!Date of experience: 03 October 2023
This company are appalling: This company are appalling. They come out as the cheapest on comparison sites but beware they then up their charges to an extortionate amount once you are with them.
They wanted us to pay over £500 a month for a 2 person household. They also made us pay over £1000 stating we were in debit on our account despite paying a really high monthly direct debit.
We are now with another company, pay less than half of the amount that shell charged us and are already in £600 credit after 4 months.
Date of experience: 16 August 2023
Bullying vulnerable old people is…: Bullying vulnerable old people is pretty low, and that is what they are doing. Message sent saying more than doubling their direct debit when they have never been in debit and we have to keep getting the overpayments back by wasting our time on the telephone to them. We keep putting in complaints which presumably go into the bin.
I really do thing there should be some legal comeback on these bullies.
In any other part of life just taking more money than you are due would either be theft or fraud. What makes them think they are above the law and decency? Arrogance and corporate targets for deposit amounts, and they are probably getting 5% on your overpayments, means their profits swell and anyone who is on a profit related bonus gets a bit more at your cost.
If you think about it, if Shell Energy have 1m customers, and they each have at least £500 overpayments in SE's deposit account then SE are raking in almost £2.1m per month in interest.
They should be made to pay customers 5% on any money they hold over £100 to discourage them ripping everyone off and defrauding vulnerable old people.
Date of experience: 29 September 2023
hey know I have heart issues yet still stressing me out. Disgusting cheaters and thieves.
Date of experience: 02 October 2023
2 Oct 2023 broadband down again: 2 Oct 2023 broadband down again, ring shell, tell them my password they then tell. Me to enter,,, low and behold it's up and running again. fault team saying nothing wrong, as well as passing me to different departments.
Octopus don't take it on
Date of experience: 02 October 2023
The installer who came to install the…: The installer who came to install the smart meter for me was very rude. First of all, he was late - he arrived at 5.20 pm. He raised his voice to me (I warned him 2-3 times not to shout at me). He wanted to see the radiator controller. When I said that there was no problem, but he had to change his shoe covers, he was wearing them outside - it was raining and he was walking on the ground -- HE SAID IT WAS NOT A PALACE AND HE WENT AWAY. He also threatened me that he would disconnect my gas. I also did not receive a home monitor that would control my gas consumption. I also didn't sign the completion of work for him - the signature I gave him before starting work, he said that he couldn't start doing anything without it... That's not the way to do it. It's a showcase of your company, which isn't very pretty.
Date of experience: 02 October 2023
Bye bye Shell: Fixed price came to an end. Payment is going from £153 to £243 despite the spot gas price being historically low.
They offered a fixed rate tariff, takes the price down to £226, the catch? I must take a Smart Energy meter that I don't want and have never wanted, and have declined SMS who have phoned me easily 15 to 20 times since I've been with Shell Energy.
I've told them every time to stop phoning me, I don't want a smart meter, but still they do it. Albeit I haven't had a call for a few months, maybe they've stopped. I don't know. But not before telling them over and over again to stop phoning me.
I also used to get nagged regularly with text messages to book a Smart Meter despite never wanting one and making that clear from the first time they asked.
Now shell is giving me a high price, with a tiny discount if I accept a smart meter.
I started my switch to Octopus energy today. £217 a month, albeit a variable rate, so the Corrupt Neo Marxist government can treat me and everyone else like an ATM machine to fund the hotels for illegals, and the Ukraine war that had nothing to do with us.
This after they put 28+ energy companies out of business by pretending to care about people with a Price Cap, now the greedy corrupt energy companies have no incentive to compete against each other, since the corrupt Marxist government killed off almost all free market competition.
Date of experience: 03 October 2023
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. No advertising is accepted. It is an entirely free to use non-commercial website drawing attention to the negative side of Shell. 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. Use this link for Shell’s own website.
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.
John Donovan, the website owner
…the Square Mile today claimed the new year will be a “new dawn” for Royal Dutch Shell… time to snap up Shell because its new boss, Ben van Beurden, who started this month, will put its house in order.
In the money: chief executive Peter Voser
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.
