Oil Prices

Shell Celebrates Sky-High Profits While the World Burns

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Greenpeace Demands Climate Accountability: Shell seems unfazed, pouring billions into the pockets of shareholders while the world burns.

POSTED BY JOHN DONOVAN JULY 22, 2023

Shell, the unapologetic polluting behemoth, is set to announce yet another round of astronomical profits, thanks to its reckless exploitation of oil and gas. With profits soaring to billions, Shell’s CEO, Wael Sawan, shamelessly dismisses environmental concerns and slashes green targets. Meanwhile, the world experiences catastrophic climate events, from scorching heatwaves to devastating floods. Greenpeace demands that Shell takes responsibility for the climate havoc it has caused and pays into the Loss and Damage fund, rather than pouring billions into shareholders’ pockets. read more

^*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. ^*All created and supported by internet wizz, Nick Gill.

Shell announces ‘obscene’ £7,6400,000,000 profit for first quarter of the year

May 4th, 2023

by John Donovan.

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Metro.co.uk

Shell announces ‘obscene’ £7,6400,000,000 profit for first quarter of the year

Kirsten Robertson: Thursday 4 May 2023 8:54 am

Oil giant Shell made nearly £1.4 billion more in profit than experts had expected in the first three months of the year, the company said today.

The business joined its rival BP in reporting expectations-beating results this week.

Shell said that its adjusted earnings had risen by 5.7% compared to the same quarter a year earlier, reaching £7.6 billion.

Like its rival BP, Shell’s results immediately sparked calls for the Government to take a tougher stance against the oil majors. read more

Shell Reports $9.6 Billion Profit, Despite Falling Oil Prices

May 4th, 2023

by John Donovan.

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THE NEW YORK TIMES

Shell Reports $9.6 Billion Profit, Despite Falling Oil Price

By Stanley Reed: Reporting from London: May 4, 2023, 6:04 a.m. E

Shell, Europe’s largest energy company, said Thursday that its profit jumped 6 percent in the first quarter to $9.6 billion, a sign that the company remains hugely profitable, even with oil prices under pressure.

The company’s earnings, adjusted for items like divestitures, were below the record of $11.5 billion set in the second quarter of 2022, but they still exceeded analysts’ forecasts. read more

Shell force-fitted more than 4,000 prepayment energy meters last year while making £32bn in profits

May 4th, 2023

by John Donovan.

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Shell force-fitted more than 4,000 prepayment energy meters last year while making £32bn in profit

By Dean Kirby: Investigations Correspondent inews.co.uk

May 4, 2023 2:27 pm (Updated 5:32 pm)

Shell force-fitted more than 4,000 prepayment meters in the UK last year as the international oil and gas giant made more than £32bn in profits.

The firm on Wednesday posted additional profits of almost £7.7bn in the first quarter of this year amid soaring oil and gas prices

.It was reported in February that Shell’s overall profits had soared to £32.2bn last year – the highest in the oil and gas giant’s 115-year history – as millions of Britons struggled to pay their energy bills. read more

Oil giant Shell beats expectations with $9.6 billion in first-quarter profit

May 4th, 2023

by John Donovan.

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Oil giant Shell beats expectations with $9.6 billion in first-quarter profit

PUBLISHED THU, MAY 4 20232:07 AM EDam Meredith @SMEREDITH19: CNBC

British oil giant Shell on Thursday posted stronger-than-anticipated first-quarter profit, extending a record run of bumper results after commodity prices surged in 2022 following Russia’s full-scale invasion of Ukraine.

Shell reported adjusted earnings of $9.6 billion for the first three months of the year, comfortably beating analyst expectations of $8.6 billion, according to Refinitiv.

The company posted adjusted earnings of $9.1 billion over the same period a year earlier and $9.8 billion for the final three months of 2022.

Shares of the oil major are little changed year-to-date.

Flush with cash, Shell held the rate of its share buyback program steady at $4 billion over the next three months and kept its dividend unchanged at $0.2875 per share. read more

Advocacy group accuses Shell of ‘greenwashing’ and misleading investors in SEC complaint

Feb 3rd, 2023

by John Donovan.

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The Washington Post

Advocacy group accuses Shell of ‘greenwashing’ and misleading investors in SEC complaint

Analysis by Maxine Joselow with research by Vanessa Montalbano

February 1, 2023 at 8:03 a.m. EST

An advocacy group is accusing the oil giant Royal Dutch Shell of misleading investors by classifying its investments in natural gas as spending on renewable energy.

In a complaint filed today with the Securities and Exchange Commission, the group Global Witness argues that Shell’s classifications amount to “greenwashing” — the practice of portraying a business or product as more environmentally friendly than it really is. read more

Shell reports highest profits in 115 years

Feb 2nd, 2023

by John Donovan.

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BBC NEWS

Shell reports highest profits in 115 years

Oil and gas giant Shell has reported record annual profits after energy prices surged last year following Russia’s invasion of Ukraine.

By Simon Jack & Nick Edser: 2 FEB 2023

Profits hit $39.9bn (£32.2bn) in 2022, double last year’s total and the highest in its 115-year history.

Energy firms have seen record earnings since oil and gas prices jumped following the invasion of Ukraine.

It has heaped pressure on firms to pay more tax as households struggle with rising bills.

Opposition parties said Shell’s profits were “outrageous” and the government was letting energy firms “off the hook”. They also called for the planned increase in the energy price cap due in April to be scrapped. read more

Shell faces energy fury as £31bn bumper profits could pay for 2.1m heat pumps for Britons

Oct 28th, 2022

by John Donovan.

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EXPRESS

Shell faces energy fury as £31bn bumper profits could pay for 2.1m heat pumps for Britons

In just the third quarter of the year, UK-based energy giant Shell raked in profits of £8.2billion.

By ANTONY ASHKENAZ: 22:10, Thu, Oct 27, 2022 | UPDATED: 22:16, Thu, Oct 27, 2022

New analysis has found that over the past twelve months, energy giant Shell has generated a staggering £31billion in excess profits. This has prompted fury among critics, as millions of Britons face unprecedented energy bill hikes, crippling inflation and a major cost of living crisis. Today, Shell has announced profits of £8.2billion for the third quarter of this year. The business said it made adjusted earnings of $9.5billion US dollars over the three months down from $11.5billion (£9.9billion) the quarter before. According to Global Witness, which conducted the analysis, this profit earned by the energy giant was in addition to the profits that they would make in a normal year. read more

Shell pays no UK windfall tax despite profits jump

Oct 28th, 2022

by John Donovan.

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BBC NEWS

Shell pays no UK windfall tax despite profits jump

By Michael Race: Business reporter, BBC News: 27 Oct 2022

Shell has reported its second highest quarterly profit on record but it has not paid the UK’s windfall tax on energy firms.

The energy giant said global profits reached $9.5bn (£8.2bn) between July and September, compared to $4.2bn during the same period last year.

However, Shell said that because it had made large investments in the UK, it meant it had made no profit here.

It also does not expect to start paying windfall taxes until early next year.

The Energy Price Levy – or windfall tax – on the profits of energy firms was announced by Rishi Sunak in May, when he was chancellor. At the time he said it would raise £5bn in its first year. read more

Biden says Shell is misusing its profits by not cutting gas prices

Oct 28th, 2022

by John Donovan.

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Biden says Shell is misusing its profits by not cutting gas prices

Thu, October 27, 2022 at 10:01 PM

SYRACUSE, N.Y. (Reuters) – U.S. President Joe Biden blasted Shell plc on Thursday for funneling profits to shareholders rather than lowering gas prices, after the British oil giant said it would boost its dividend and buy back shares.

Shell earlier on Thursday said its third-quarter profit was a near-record $9.45 billion, as it sharply boosted its dividend by 15% and announced plans to buy $4 billion more of stock over the next three months. read more

Shell yet to pay any extra windfall tax, bosses confirm

Oct 27th, 2022

by John Donovan.

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Evening Standard

Shell yet to pay any extra windfall tax, bosses confirm

Oil giants were hit by an extra windfall charge in May this year, but they could get around it by investing more in the UK.

By August Graham: 27 Oct 2022

Oil giant Shell has avoided paying any extra windfall tax despite making record profits so far this year as the business said it was investing heavily in the North Sea.

The company said that it does not expect to pay any extra tax this year due to the Government’s decision in May to put a windfall tax on North Sea oil and gas producers.

Finance boss Sinead Gorman told reporters on Thursday that the company had done enough over recent months to avoid the tax – which allowed companies to get tax relief in exchange for investment.

“Heavy capex (capital expenditure) has meant that we haven’t had extra tax coming through in this quarter yet,” she said.

“I do expect to see that extra tax … to happen quite early in the first quarter of 2023, but we’ll see what plays out with prices as well.” read more

Shell in talks with Government as ministers consider new windfall tax

Oct 27th, 2022

by John Donovan.

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The Telegraph

Shell in talks with Government as ministers consider new windfall tax

Oil and gas giant did not pay any tax in Britain, despite an existing windfall scheme

By Rachel Millard: 27 October 2022 • 5:48pm

Shell is in talks with the Government as ministers consider a fresh windfall tax on oil and gas companies to help fill a £35bn black hole in the public finances.

Ben van Buerden, chief executive of the oil and gas giant, said he accepted the case for higher taxes after the industry was boosted by surging fossil fuel prices following Vladimir Putin’s invasion of Ukraine. read more

Energy giant Shell has already made £31bn in excess profits over past year

Oct 27th, 2022

by John Donovan.

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global witness

Energy giant Shell has already made £31bn in excess profits over past year

Analysis of Shell Q3 profits shows their 12 month windfall profits could pay for 12.5 million UK energy bills

27th October 2022, London – UK-based fossil fuel giant Shell has made £31 billion in excess profits over the past twelve months, while Brits have seen energy bill hikes drive an acute cost of living crisis, according to Global Witness analysis of the company’s third quarter profits reported today.

This is money Shell has made in addition to their “normal,” but already high, profits, and was spurred by high global energy prices. See notes for full methodology. It could pay for:

The energy bills of 12.5 million British households, or
Almost half of the £68 billion the government needs to help its citizens with high energy bills, or
Heat pumps for 2.1 million UK homes, that would protect families from energy price volatility, or
The energy bills of everyone on universal credit; plus emergency aid for all 19 million Yemeni’s caught in one of the world’s worst humanitarian disasters; plus emergency shelter for all of the victims of Pakistan’s climate crisis caused floods – and still leave £17.1 billion in excess profits for Shell’s shareholders. (2)

These extraordinary windfalls come as Shell announced overall adjusted earnings of $9.5 billion this quarter, a slight drop from its record last quarter, but much higher than the company has averaged in recent years. This at a time when the UK government debates how best to support its citizens through a cost-of-living crisis that could see 3 million more British people – and 30 percentage of all UK children (3) – living in poverty from next year. read more

Shell beats forecasts as profits more than double

Oct 27th, 2022

by John Donovan.

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BBC NEWS

Shell beats forecasts as profits more than double

By Michael Race: Business reporter, BBC News: 27 Oct 2022

Shell has reported profits have more than doubled between July and September helped by high oil and gas prices.

The energy giant said underlying profits reached $9.5bn (£8.2bn) in the third quarter.

That compares to $4.2bn during the same period last year though it is a slowdown from the second quarter when it announced record figures.

The invasion of Ukraine sparked oil and gas prices to rise as nations pledged to cut dependence on Russian energy. read more

Oil giant Shell reveals plans to hike dividend as it reports third-quarter profit

Oct 27th, 2022

by John Donovan.

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CNBC

Oil giant Shell reveals plans to hike dividend as it reports third-quarter profit

Silvia Amaro @SILVIA_AMARO

Sam Meredith @SMEREDITH19

PUBLISHED THU, OCT 27 20222:25 AM EDT

KEY POINTS

The oil giant also announced Thursday a new share buyback program.
It also revealed plans to increase its dividend per share by around 15% for the fourth quarter 2022.
The group’s results come soon after it was announced CEO Ben van Beurden will step down at the end of the year after nearly a decade at the helm.

British oil major Shell reported a third-quarter profit Thursday, but lower refining and trading revenues brought an end to its run of record quarterly earnings.

Shell posted adjusted earnings of $9.45 billion for the three months through to the end of September, meeting analyst expectations of $9.5 billion according to Refinitiv. The company posted adjusted earnings of $4.1 billion over the same period a year earlier and notched a whopping $11.5 billion for the second quarter of 2022. read more

What every company should learn from Shell’s exemplary CEO succession strategy

Oct 6th, 2022

by John Donovan.

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FORTUNE

What every company should learn from Shell’s exemplary CEO succession strategy

Laurie Cure: Wed, October 5, 2022 at 4:59 PM

Global energy giant Shell recently announced that Wael Sawan, its head of integrated gas and renewables, would replace longtime CEO Ben van Beurden by the end of 2022. While important changes to the C-suite are rarely smooth sailing, Shell’s board seems to have followed the three essential characteristics of a successful succession: fast, thorough, and consistent.

In early September, Reuters reported that the board was actively working to name the next CEO upon the retirement of Van Beurden, who plans to step down in 2023 after 40 years with the company. Their sources said the board succession committee had narrowed the list down to a few candidates. Two weeks later, they confirmed the final choice. read more

30 November 2023: Posted by John Donovan

The content below is sourced from current verifiable customer reviews of Shell Energy published on Trustpilot.
Extremely slow broadband for 10 months, not fixed. I have had slow broadband well below the guaranteed speed for 10 months and Shell Energy have not been able to fix it. They have tried sending about 4 or 5 engineers but have not fixed the problem. Gurps, who I have been dealing with most recently, has been friendly and polite, alth… Read more

Extremely Slow Shell Broadband

Oil Prices

Greenpeace Demands Climate Accountability: Shell seems unfazed, pouring billions into the pockets of shareholders while the world burns.

By Dean Kirby: Investigations Correspondent inews.co.uk

May 4, 2023 2:27 pm (Updated 5:32 pm)

PUBLISHED THU, MAY 4 20232:07 AM EDam Meredith@SMEREDITH19: CNBC

British oil giant Shell on Thursday posted stronger-than-anticipated first-quarter profit, extending a record run of bumper results after commodity prices surged in 2022 following Russia’s full-scale invasion of Ukraine.

Analysis by Maxine Joselow with research by Vanessa Montalbano

February 1, 2023 at 8:03 a.m. EST

By Simon Jack & Nick Edser: 2 FEB 2023

Energy firms have seen record earnings since oil and gas prices jumped following the invasion of Ukraine.

In just the third quarter of the year, UK-based energy giant Shell raked in profits of £8.2billion.

By ANTONY ASHKENAZ: 22:10, Thu, Oct 27, 2022 | UPDATED: 22:16, Thu, Oct 27, 2022

By Michael Race: Business reporter, BBC News: 27 Oct 2022

Shell has reported its second highest quarterly profit on record but it has not paid the UK’s windfall tax on energy firms.

Thu, October 27, 2022 at 10:01 PM

SYRACUSE, N.Y. (Reuters) – U.S. President Joe Biden blasted Shell plc on Thursday for funneling profits to shareholders rather than lowering gas prices, after the British oil giant said it would boost its dividend and buy back shares.

By August Graham: 27 Oct 2022

Oil giant Shell has avoided paying any extra windfall tax despite making record profits so far this year as the business said it was investing heavily in the North Sea.

The company said that it does not expect to pay any extra tax this year due to the Government’s decision in May to put a windfall tax on North Sea oil and gas producers.

Analysis of Shell Q3 profits shows their 12 month windfall profits could pay for 12.5 million UK energy bills

This is money Shell has made in addition to their “normal,” but already high, profits, and was spurred by high global energy prices. See notes for full methodology. It could pay for:

The energy bills of 12.5 million British households, or

Almost half of the £68 billion the government needs to help its citizens with high energy bills, or

Heat pumps for 2.1 million UK homes, that would protect families from energy price volatility, or

PUBLISHED THU, OCT 27 20222:25 AM EDT

KEY POINTS

The oil giant also announced Thursday a new share buyback program.

It also revealed plans to increase its dividend per share by around 15% for the fourth quarter 2022.

The group’s results come soon after it was announced CEO Ben van Beurden will step down at the end of the year after nearly a decade at the helm.

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