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Calls for bigger windfall tax after Shell makes ‘obscene’ $40bn profit

The Guardian

Calls for bigger windfall tax after Shell makes ‘obscene’ $40bn profit

Sunak government under pressure after gas prices fuel ‘outrageous’ doubling of profits at Anglo-Dutch group

Alex Lawson Energy correpondent: Thu 2 Feb 2023 14.13 GMT

The government is under pressure to rethink its windfall tax on energy companies after Shell reported one of the largest profits in UK corporate history, with the surge in energy prices sparked by Russia’s invasion of Ukraine pushing the oil company’s annual takings to $40bn (£32bn).

Opposition parties and trade unions described Shell’s bonanza, the biggest in its 115 year history, as “outrageous” and accused Rishi Sunak of letting fossil fuel companies “off the hook”.

On Thursday, the UK headquartered company confirmed it had paid just $134m in British windfall taxes during 2022. It paid $520m under the EU “solidarity contribution” – Europe’s equivalent of the windfall tax. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell reports highest profits in 115 years

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

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Greenpeace climate justice activists board and occupy Shell platform en route to major oilfield with message: ‘STOP DRILLING. START PAYING.’

Greenpeace climate justice activists board and occupy Shell platform en route to major oilfield with message: ‘STOP DRILLING. START PAYING.’

Greenpeace International: 31 Jan 2023

Amsterdam, Netherlands – Greenpeace activists from Argentina, Turkey, the US and the UK have boarded a Shell contracted vessel in the Atlantic Ocean with a banner bearing the message: “Stop Drilling. Start Paying”.

Just two days ahead of Shell’s profits announcement, four Greenpeace International activists boarded the White Marlin vessel at sea north of the Canary Islands in a peaceful protest against the climate devastation around the world caused by Shell and the wider fossil fuel industry, without paying a penny towards loss and damage. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

‘Get a grip’ Shell told, as it racks up the most broadband complaints (again)

THE SUNDAY TIMES

‘Get a grip’ Shell told, as it racks up the most broadband complaints (again)

Extracts from an article by Ellie McDonald published on Sunday 29 Jan 2023 (Page 15)

Shell Energy has been told to “get a grip” after a surge in broadband and landline complaints.

The telecoms regulator Ofcom also said it was monitoring the firm’s performance because its complaints volume remains far higher than its rivals.

Shell Energy, which started providing broadband in 2016, had 27 complaints per 100,000 broadband customers between July and September 2022 and 20 complaints per 100,000 landline customers. It was also the worst in the previous three months, when it received 31 and 23 complaints per 100,000 customers respectively.

Shell Energy Broadband said: “Ofcom’s table reflects our position up to six months ago. Since then we have invested heavily and made big strides in our processes.

We’re confident that these will be reflected when Ofcom releases its results for the current period.” read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Never under any circumstances get Shell broadband

Never under any circumstances get broadband with this company. After at least 15 phone calls, multiple transfers per call, and over two months of waiting, the broadband I ordered is still not working.

30 Jan 2023

The content below is sourced from current verifiable customer reviews of Shell Energy published on Trustpilot.

Never under any circumstances get…

Never under any circumstances get broadband with this company. After at least 15 phone calls, multiple transfers per call, and over two months of waiting, the broadband I ordered is still not working. They’ve tried their best to resolve complaints, but the inconvenience they’ve caused will not be resolved easily. I could forgive that if my broadband at least works, but due to a technical issue, it has still not been done. They expect it wont be working for a total of 3 months after my order date. Additionally, the customer website never works, meaning I can’t check any of my payment details or other information. Never use this company’s broadband. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

New Shell boss launches overhaul as executive roles cut

Evening Standard

New Shell boss launches overhaul as executive roles cut

Wael Sawan, who took over at the start of this month, said the changes will take place from July.

By Henry Saker-Clark: 30 JAN 2023

Shell has revealed it will combine its oil and gas production and liquified natural gas (LNG) divisions as part of an overhaul by its new chief executive.

The new operation, which will combine Shell’s most profitable divisions, is to be led by Zoe Yujnovich, currently the group’s upstream director.

The internal restructure will also see its renewables operations merged with its oil refining and marketing business, the company said.

Shell confirmed the shake-up will reduce the size of its executive committee from nine to seven members in order to “simplify the organisation further and improve performance”. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell plc announces Executive Committee and Directorate changes

Shell plc announces Executive Committee and Directorate changes

·

London, 30 January 2023 – Shell plc is to reduce the size of its Executive Committee (EC) from nine to seven members in a decisive move designed to simplify the organisation further and improve performance as we deliver our Powering Progress strategy.

Under the changes, which are expected to take effect on 1 July 2023, Shell’s Integrated Gas and Upstream businesses will be combined to form a new Integrated Gas and Upstream Directorate led by current Upstream Director, Zoe Yujnovich. The Downstream business will be combined with Renewables & Energy Solutions to form a new Downstream and Renewables Directorate led by current Downstream Director, Huibert Vigeveno.

Separately, the Strategy, Sustainability and Corporate Relations (SSCR) Directorate will be discontinued and its Director, Ed Daniels, will step down from the EC effective 1 July 2023, and leave Group service thereafter. Strategy will be brought together with New Business Development and, alongside Sustainability, will report direct to Sinead Gorman, Chief Financial Officer, enabling more streamlined planning and better capital allocation decisions. Corporate Relations will report direct to Wael Sawan, Chief Executive Officer. We thank Ed for his distinguished service over more than 34 years and wish him well for the future. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell CEO in first changes combines LNG, upstream operations

REUTERS

Shell CEO in first changes combines LNG, upstream operations

LONDON (Reuters) -Shell will combine its oil and gas production and liquefied natural gas (LNG) divisions as part of CEO Wael Sawan’s first changes since taking charge of the energy giant earlier this month.

The new division, which combines Shell’s most profitable operations, will be headed by current upstream director Zoe Yujnovich, Shell said in a statement on Monday.

Sawan took office on Jan. 1 after heading Shell’s integrated gas division, which included Shell’s LNG and renewables businesses, with a vow to simplify and improve the company’s operations.

Under the internal restructure, renewables operations will be combined with Shell’s oil refining and marketing operations led by current downstream director Huibert Vigeveno, the company said. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

‘Record’ profits likely to spark renewed calls for windfall taxes

EXPRESS

‘Record’ profits likely to spark renewed calls for windfall taxes

Energy giant Shell is set to announce record annual net profits of more than £32.3billion at its results on Thursday, on the back of high gas and oil prices.

By GEOFF HO:

The bumper profits expected from Britain’s oil majors is likely to spark renewed calls for windfall taxes.

Howard Cox, founder of campaign group FairFuelUK, said action is needed from the Government to stop oil groups “ripping off motorists” and adding to the cost-of-living crisis.

He added: “In a time of huge inflation, striving so hard in order to fill up your essential car, van, or truck at a Shell garage, you can be comforted you have helped double this global oil
giant’s already mega profits.

“It is even more sickening that forecourts like Costco can sell petrol and diesel so much cheaper, 10p to 20p per litre less than Shell. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

After winning lawsuit against Shell: Milieudefensie announces new climate case

NL TIMES

After winning lawsuit against Shell: Milieudefensie announces new climate case

Sunday 29 Jan 2023

After the case against Shell in 2021, Dutch climate organization Milieudefensie will start a new climate case against a company that emits a lot of greenhouse gasses at the end of this year, without naming the company involved. This was announced by the director of Milieudefensie, Donald Pols, on Sunday morning in the NPO Radio 1 program Vroege Vogels. Which company it is, he could not yet say. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Oil giant Shell set to unveil record profits of more than £30bn

Oil giant Shell set to unveil record profits of more than £30bn as households and businesses grapple with sky-high energy bills

Oil giant Shell is set to unveil record profits of more than £30 billion as households and businesses grapple with sky-high energy bills.

The corporate giant is expected to say this week that annual profit more than doubled as the war in Ukraine restricted supplies from Russia, sending the price of gas and electricity rocketing.

The FTSE100 behemoth and its arch rival BP have faced mounting criticism for cashing in. BP chief executive Bernard Looney famously described his company as resembling a ‘cash machine’ because of the amount of money it has made from elevated prices.

But, since he made those comments in 2021 – three months before the invasion of Ukraine – the profits made by BP and Shell have continued to escalate rapidly. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

BP and Shell could be takeover targets if Exxon and Chevron snatch opportunity for ‘industry arbitrage’ – Citi

BP and Shell could be takeover targets if Exxon and Chevron snatch opportunity for ‘industry arbitrage’ – Citi

proactiveinvestors.co.uk

Jamie Ashcroft: Wed 25 Jan 2023

BP PLC (LSE:BP.) and Shell PLC (LSE:SHEL, NYSE:SHEL) may find themselves at the negotiating table as American peers Exxon Mobil Corporation (NYSE:XOM) or Chevron Corporation (NYSE:CVX) could come calling, that’s the view of analysts at Citigroup.

A megamerger between either London-listed oil major and either of America’s largest oilers appears increasingly attractive, on valuation terms at least, according to the Wall Street bank. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell Energy is the most complained about broadband firm again

Shell Energy is the most complained about broadband firm again

Written by Andrew Wooden

Shell Energy continued to attract the most broadband and landline complaints to Ofcom in Q3 2022, while BT Mobile, Virgin Mobile and iD Mobile were the most complained-about mobile operators.

As it has for the last few quarters, Shell Energy has topped Ofcom’s rankings of complaints it received in the category of broadband and landline. Complaints were mainly around faults and service issues, while landline customers were chiefly unhappy with how complaints were handled. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Ofcom tells Shell Energy to ‘get a grip’ on broadband and landline complaints

Ofcom tells Shell Energy to ‘get a grip’ on broadband and landline complaints

UK News: Ofcom has urged Shell Energy to “get a grip” on broadband and landline complaints after the firm attracted significantly higher volumes than other providers.

BT Mobile, Virgin Mobile and iD Mobile are the most complained-about mobile operators, according to the regulator’s latest figures.

Ofcom said it is monitoring Shell’s performance closely.

The regulator said: “We have been engaging with the provider and urged it to get a grip on identifying and addressing the root causes of these issues.

“As always, should we identify specific concerns with how our rules are being followed, we will consider whether it is appropriate to take formal action.”

Virgin Media continued to generate the most pay TV complaints, Ofcom said.

Overall, the volume of complaints between July and September were broadly in line with the previous three months.

Sky had the fewest pay TV and broadband complaints, while EE joined Sky as the least complained-about landline providers. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell puts 2,000 UK jobs at risk with review of Shell Energy retail division

The Guardian

Shell puts 2,000 UK jobs at risk with review of Shell Energy retail division

Alex Lawson Energy Correspondent: Thu 26 Jan 2023

Shell has put more than 2,000 jobs in the UK at risk after launching a “strategic review” of its domestic energy and telecoms supply division.

The oil and gas supermajor said on Thursday that it had told staff in Shell Energy, which has operations in the UK, the Netherlands and Germany, that it has begun analysis of future options for the business, which could include exiting the sectors.

The UK business, which is headquartered just outside Coventry, has 1.4 million energy customers and about 500,000 broadband users.

The company said it had made the decision against the backdrop of a strategy which includes “continually exploring options to maximise the value of our portfolio and address performance in tough market conditions”.

First Utility and rebranding the business to Shell Energy Retail the following year. It took over the Post Office’s broadband customers in 2021 and now offers broadband at varying speeds across three tariffs. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell Wants To Bail On Energy Retail Businesses Due To “Tough Market Conditions”

OILPRICE.COM

Shell Wants To Bail On Energy Retail Businesses Due To “Tough Market Conditions”

Shell is looking to bail on its energy retail business across multiple countries amid “tough market conditions,” the company said on Thursday.

The tough market conditions likely refer to higher wholesale prices across Europe that have plagued many retailers, as well as price-capping measures instituted by governments to keep consumers from having to pay exorbitant energy bills.

Shell said on Thursday that it had commenced a review of its retail business in Britain, Norway, and Germany and that the process could take months.

Of the three businesses, Shell’s retail operations in the UK, Shell Energy Retail, is the biggest, boasting 1.4 million customers.

But while it has pegged its European retail arms to stand before the firing squad, Shell’s 2022 annual profit is expected to come in at more than $30 billion, Reuters said, as high oil and gas prices have helped the business improve its overall performance.

Shell sunk $1.5 billion in cash and credit into its British energy retail business last year in order to help with volatile prices and the tough market conditions in the retail segment as natural gas supplies ran short. While Shell managed to survive the last couple of years, other British retailers such as Bulb declared bankruptcy after multiple British power suppliers failed to hedge their future costs back when the getting was good. The cost to taxpayers—billions. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.
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