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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

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

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

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

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

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

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

‘Tax people in this room’ to help the poor, Shell CEO tells energy conference

Oct 4th, 2022
by John Donovan.
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REUTERS

‘Tax people in this room’ to help the poor, Shell CEO tells energy conference

Published 04 Oct 2022

European governments should tax the wealthy to help weaker parts of society weather soaring energy costs but not intervene to cap gas prices, Shell Chief Executive Officer Ben van Beurden said on Tuesday.

Speaking before the Energy Intelligence Forum in London, Van Beurden said that European energy prices and the huge volatility in the markets threatened broader social instability.

“You cannot have a market that behaves in such a way … that is going to damage a significant part of society.”

“One way or another there needs to be government intervention” in the face of soaring energy prices, Van Beurden said. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Activist Investor: Shell Must Do More To Curb Emissions

Oct 1st, 2022
by John Donovan.
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OILPRICE.COM

Activist Investor: Shell Must Do More To Curb Emissions

By Charles Kennedy – Sep 30, 2022, 5:00 AM CDT

An expected drop in Shell’s net greenhouse gas emissions is not aligned with the Paris Agreement and with a Dutch court order for the now UK-based supermajor to slash emissions much more by 2030, activist investor Follow This says.

A recent report from Australia-based Global Climate Insights showed that Shell’s net emissions, after CCUS and offsets, are forecast to be 6% lower in 2030 compared to 2019, assuming it is on track to achieve its targets for CCUS and offsets. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

REVEALED: UK ‘fat cat’ power bosses pocketed £30million last year

Aug 29th, 2022
by John Donovan.
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MailOnline

REVEALED: UK ‘fat cat’ power bosses pocketed £30million last year as struggling households are warned energy price cap could hit £7,700 in April

Bosses of Shell, BP and National Grid are among the top earners of seven energy and utility firms in the FTSE 100 index of leading companies on the stock market

The five energy and power companies make up £23million of the total
Ben van Beurden, the chief executive of Shell, made £6.2m in pay and bonuses 

By FRANCESCA WASHTELL DEPUTY CITY EDITOR FOR THE MAIL ON SUNDAY PUBLISHED: 22:27, 27 August 2022 | UPDATED: 00:46, 28 August 2022 read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Britain’s 10 highest paid fat cats pocketed more than £100m last year

Aug 29th, 2022
by John Donovan.
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Mirror.co.uk

EXCLUSIVE: Meet Britain’s 10 highest paid fat cats who pocketed more than £100m last year

That means they are now getting 109 times more in their wage slips than the typical British worker – up from 79 times in the previous year

By Nigel Nelson Political Editor, 27 Aug 2022

Britain’s ten highest paid fat cats pocketed more than £100million between them last year, a 39% increase on 2020.
And that means they are now getting 109 times more in their wage slips than the typical British worker – up from 79 times in the previous year. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

PURE GREED: How fatcat energy bosses will bank a staggering £15 MILLION as terrified hard-up Brits choose heating or eating

Aug 11th, 2022
by John Donovan.
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The Sun

PURE GREED: How fatcat energy bosses will bank a staggering £15 MILLION as terrified hard-up Brits choose heating or eating

IT is High Noon for the energy fatcats today as they drag their expensively-dressed behinds into showdown talks with the Chancellor.

As The Sun revealed yesterday, Nadhim Zahawi has summoned gas and electricity bosses in to explain just how much cash they are making out of the energy crisis.

It comes as energy experts at Auxilione revealed energy bills could reach over £5,000 next year and Martin Lewis warned the crisis could put lives at risk. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

£7.5bn taxpayer handout for oil titans Shell and BP

Aug 7th, 2022
by John Donovan.
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This is MONEY.co.uk

Shell and BP to share in huge giveaway that will blow hole in gains from windfall tax: £7.5bn taxpayer handout for oil titans

  • Energy giants already receive Treasury incentives to invest in the North Sea 

  • Fresh changes have been ushered in that will turbocharge the subsidies 

  • Plans introduced at same time as Government’s £5bn ‘windfall tax’ 

  • City sources describe exceptionally high incentives as ‘beyond believable’ 

By LUKE BARR, FINANCIAL MAIL ON SUNDAY

PUBLISHED: | UPDATED: 

Oil and gas titans are set to reap a mammoth taxpayer giveaway of up to £7.5billion despite making record profits.

BP and Shell are among the firms that will benefit from new tax breaks, despite BP boss Bernard Looney comparing his firm to a ‘cash machine’.

Energy giants already receive Treasury incentives to invest in the North Sea, but fresh changes have been ushered in that will turbocharge the subsidies. The plans have been introduced at the same time as the Government’s £5billion ‘windfall tax’ – billed as taxing energy firms to help pay for the cost-of-living crisis. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell staff land bonus windfall equating to 8% of their salary as profits surge to £9.5bn

Aug 4th, 2022
by John Donovan.
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This is MONEY.co.uk

Shell staff land bonus windfall equating to 8% of their salary as profits surge to £9.5bn

  • The oil giant has awarded most of its 82,000 staff a bonus equal to 8 per cent of their annual salary 

  • Executive vice-presidents or higher will not receive the bonus

  • The average salary for Shell UK employees is around £52,000 per year, meaning a British worker will get £4,200

By CALUM MUIRHEAD, CITY CORRESPONDENT FOR THE DAILY MAIL

PUBLISHED: | UPDATED: 

Shell has handed out a bonus to its employees following bumper profits amid surging energy prices.

The oil giant has awarded most of its 82,000 staff a bonus equal to 8 per cent of their annual salary after reporting a record profit of £9.5bn in the second quarter of this year as it cashed in on higher oil and gas prices.

Executive vice-presidents or higher will not receive the bonus. The average salary for Shell UK employees is around £52,000 per year, meaning a British worker will get £4,200. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell to give staff 8% bonus after record profits

Aug 4th, 2022
by John Donovan.
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The Guardian

Shell to give staff 8% bonus after record profits

Julia Kollewe: Wed 3 Aug 2022 16.50 BST

Payout comes after oil firm reported $11.5bn second-quarter profits amid soaring energy prices

Shell is handing nearly all its 82,000 staff a bonus equivalent to 8% of their salary after the oil company reported record profits amid soaring energy prices.

The British multinational is making the one-off payment to the vast majority of its employees around the world, only excluding those on its executive committee, executive vice-presidents and contractors.

The oil firm said: “In recognition of the contribution our people have made to Shell’s strong operational performance against a recent challenging backdrop, our executive committee has decided to make a special recognition award of 8% of salary to all eligible staff across the world. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell staff get profits bonus as energy bills soar

Aug 4th, 2022
by John Donovan.
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BBC NEWS

Shell staff get profits bonus as energy bills soar

4 August 2022

Energy giant Shell is to give its workers a one-off 8% bonus after the company reported record profits from high oil and gas prices.

Most of the 82,000 staff it employs worldwide will get the pay boost but top executives will be excluded.

Shell said the award reflected its financial success and was “not a response” to the rising cost of living.

Energy firms’ bumper profits have prompted calls for tougher taxes to help families with rising bills. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell dishes out bonuses after huge profits while energy crisis hits Britons’ pockets

Aug 4th, 2022
by John Donovan.
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EXPRESS

Shell dishes out bonuses after huge profits while energy crisis hits Britons’ pockets

SHELL is passing on some of its record profits to its staff in a one-off bonus, but claimed it was “not a response” to cost of living crisis spurred on by high energy prices.

UN Secretary General Antonio Guterres said that it was “immoral” for oil and gas firms to profit from the invasion of Ukraine, adding that the “grotesque greed is punishing the poorest”.

By ALEKS PHILLIPS

Most of the energy giant’s 82,000 staff worldwide will get an 8 percent boost, after the company doubled its profits in the past three months alone to £9.4billion. Fossil fuel companies have been accused of profiteering from a crisis.

It comes as energy bills are expected to soar to well over £3,000 this winter, with the increase in energy costs being seen as the “main driver” of inflation.

Shell said top executives will be excluded. Its CEO, Ben van Beurden, currently makes an estimated £6.2million.

In the first three months of the year, Shell made $9.1billion (£7.4billion) as the commodity price shot up amid Russia’s invasion of Ukraine. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Not only are Shell and Centrica profiting from Putin’s war, they’ll also be profiting from the misery of the Brits

Jul 29th, 2022
by John Donovan.
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Not only are Shell and Centrica profiting from Putin’s war, they’ll also be profiting from the misery of the Brits

Ashley Armstrong: 17:30 ET, Jul 28 2022

NOT only are Shell and Centrica profiting from Putin’s war, this winter they will be profiting from the misery of the British people. 

Gas and oil prices have rocketed — while Shell’s share price has risen 11 per cent, and Centrica’s by more than a fifth.

Half the country will be in fuel poverty come January.

But multimillionaire bosses Ben van Beurden and Chris O’Shea only want to talk about money they are giving to hardship funds or call centre staff who can affirm to customers just how skint they will be. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell CEO Sees Risk of Even Higher Oil Prices

Jul 29th, 2022
by John Donovan.
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Shell CEO Sees Risk of Even Higher Oil Prices

by Bloomberg | Laura Hurst, Tom Mackenzie | Thursday, July 28, 2022

Oil prices are more likely to rise than fall as the tightness in supply outweighs any risks to demand, said the boss of Shell Plc. 

“Where we are today, there is more upside than downside when it comes to the oil price,” Shell Chief Executive Officer Ben van Beurden said in an interview with Bloomberg TV on Thursday. “Demand hasn’t fully recovered yet and supply is definitely tight.”

The Shell CEO spoke after the company reported record-breaking profits for a second consecutive quarter due to high oil and gas prices. Even with Brent crude remaining above $100 a barrel there’s little sign of demand destruction, and consumption continues to recover from the pandemic, van Beurden said.

“I’m quite optimistic, both on the energy system as well as the global economy,” he said.

There’s limited scope for extra oil supplies from the Organization of Petroleum Exporting Countries or US shale producers, and the full effect of sanctions on Russia’s production may not yet have been felt, Van Beurden said. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

‘Insult to millions’: Shell and Centrica profits cause outrage as energy bills soar

Jul 29th, 2022
by John Donovan.
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The Guardian

‘Insult to millions’: Shell and Centrica profits cause outrage as energy bills soar

Rob Davies: @ByRobDavies: Thu 28 Jul 2022 18.42 BST

Soaring 

profits at two of the UK’s biggest energy companies read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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