Posts from ‘October, 2020’

Shell Broadband customers are most stressed of UK ISPs – research

Friday 30 October 2020 | 11:44 CET | News

New research from comparison site Broadband Genie shows that customers of Shell Broadband are the most stressed of any UK ISP.

The research is based on an analysis of tweets from start-2020 to 25 September which mention major UK broadband and TV providers. BroadandGenie used the TensiStrength tool to analyse language and estimate content stress levels. More than one third (36.7%) of tweets about Shell Broadband were classed as ‘stressed’. This was followed by Post Office (35.3%), Plusnet (32.9%) and Sky (31.1%). Fibre broadband provider Hyperoptic had the lowest level of stressed tweets at 13.4 percent; ahead of NOW Broadband (14.2%) and EE (17%). read more

Shell tries to win back investors

Investors have pummeled Shell’s shares since the company cut its dividend earlier this year for the first time since World War II.

30 Oct 2020

Royal Dutch Shell, Europe’s largest oil company, said on Thursday that it would raise its dividend for the third quarter by about 4 percent to 16.65 cents and keep increasing it by a similar amount annually in an effort to win back investors.

Investors have pummeled Shell’s shares since the company cut its dividend earlier this year for the first time since World War II. The share price was up about 2 percent in trading on Thursday. read more

English translation of an article published by the Dutch equivalent of the Financial Times, the FD. 

Shell wins Sijthoff prize for reporting in a disaster year in the oil sector

“This is remarkable, now that the oil and gas company is under social pressure, such as because of tax morality with regard to remittances in the Netherlands…”

Cor de Horde and Pim Kakebeeke: October 29, 2020

Shell receives the FD Henri Sijthoff prize from Sijthoff jury member Roderick Munsters (right) during an online meeting Photo: Sander van Nieuwenhuys read more

Shell raises dividend as retail boost drives confidence

Shell also plans to shed up to 9,000 jobs, or more than 10% of its workforce.

By Ron Bousso, Shadia Nasralla: 29 October 2020

LONDON (Reuters) – Royal Dutch Shell on Thursday raised its dividend after easily beating quarterly profit forecasts and outlined plans to shrink its oil and gas operations as it presses forward with a transition to low-carbon energy.

The Anglo-Dutch company hit record earnings from its vast retail division, despite the impact on demand of the COVID-19 pandemic, which it said continued to generate “significant uncertainty”. read more

Shell takes giant writedown on Prelude: Massive pre-tax writedown on troubled $US12bn Prelude floating LNG plant raises concern over the long-term prospects. 

SOURCE ARTICLE (PAYWALL)

Shell outlines tighter upstream, refining footprint in post-COVID transition plans

• Author Robert Perkins 
• Editor Debiprasad Nayak 
• Commodity Coal,  Natural Gas,  Oil

London — Shell plans to focus its future upstream operations on nine core areas and transform its refining portfolio into six integrated sites which are part of moves to grow its low-carbon businesses and support its cash flows, the major said Oct. 29.

Reporting stronger than expected third-quarter earnings, Shell said it wants to pursue more “value over volume” by simplifying its upstream assets to nine significant core positions; Brazil, Brunei, Gulf of Mexico, Kazakhstan, Malaysia, Nigeria, Oman, Permian and UK North Sea. It said combined the areas will generate more than 80% of its upstream cash flow from operations. read more

Shell says it plans to shrink its refining portfolio to six sites

By Reuters Staff: OCTOBER 29, 2020

LONDON (Reuters) – Royal Dutch Shell RDSa.L plans to shrink its refining and chemicals portfolio from 14 to six sites including its Deer Park, Norco, Pernis, Pulau Bukom, Rheinland and Scotford sites, it said on Thursday without giving a precise timeframe.

“The refining portfolio is expected to be transformed during the energy transition … into six high-value energy and chemical parks integrated with Chemicals,” Shell said. read more

GlobeNewswire

ROYAL DUTCH SHELL PLC THIRD QUARTER 2020 PRESS RELEASE

October 29, 2020 03:01 ET | Source: Shell International B.V.

The Hague, October 29, 2020 – Shell today announced a cash allocation framework that will enable it to reduce debt, increase distributions to shareholders, and allow for disciplined growth as it reshapes its business for the future of energy. Ongoing work to reshape Shell’s portfolio is expected to deliver continued cash generation to grow its low-carbon businesses as well as to increase shareholder distributions, making a compelling investment case. read more

Shell raises dividend as earnings beat forecasts

Analysis: Will Nigeria yield in oil deal wrestling bout with Shell and Eni?

By Lionel Faull: 27 October 2020

High profile courtroom dramas involving multiple sides often have the feel of a WWE Smackdown wrestling match: titanic egos clashing with each other, trying to batter their foes into submission. The fighters forge alliances, and the argy-bargy can sometimes spill out of the ring and break out elsewhere in the auditorium.

An epic international corruption trial that is now drawing to a close under the glamourous lights of Milan is a case in point. read more

MP calls for urgent safety assessment’ over maintenance job cuts at Fife NGL Plant

Kirkcaldy and Cowdenbeath SNP MP Neale Hanvey has written to the Scottish Environment Protection Agency (Sepa) and Health and Safety Executive (HSE) raising “serious concerns” about reductions in staff at Shell’s Fife NGL Plant at Mossmorran.

It is understood  Shell intends to axe 63 out of 77 contractor jobs at the plant – a move trade union Unite has claimed could put lives at risk.

However, Shell has maintained, despite not disputing Unite’s figures, that not all roles being lost relate to “safety critical maintenance” and has given an assurance that safety at the plant would not be compromised. read more

Shell mulls former BHP chief as new chairman

Harry Banks: Sunday 25 October 2020

Former BHP Billiton boss Sir Andrew Mackenzie is in pole position to become the next chairman of Shell, reports emerged today.

Mackenzie joined the Shell board this month as a non-executive director but is expected to move into the chair soon to be vacated by Charles Holliday.

The Sunday Telegraph first reported the news.

The oil giant was forced into its first dividend cut in more than 70 years earlier this year thanks to the oil price crash and the coronavirus pandemic. read more

Investors fear there’ll be no bright post-Covid dawn for oil majors

Jillian Ambrose: Sun 25 Oct 2020 00.05 BST

Royal Dutch Shell and BP will both face investors this week with quarterly financial results that will deliver profits well below those achieved a year ago, against a backdrop of tumbling share prices and rising Covid infections across major economies. In the same week, Shell is expected to reveal a modest underlying profit, of $146m, for the third quarter, according to analysts, after plunging to a loss of $18.4bn for the second quarter. This is still a fraction of the $4.76bn profit recorded in the same quarter last year, and follows the company’s decision to cut 9,000 jobs and reduce the dividend for the first time since the second world war. read more

The Telegraph

Shell lines up next chairman for energy shift

By Lucy Burton, BANKING EDITOR and Christopher Williams, SUNDAY TELEGRAPH BUSINESS EDITOR 24 October 2020 • 9:30pm

Shell has begun a search for a new chairman, with Andrew Mackenzie, the former BHP Billiton boss, emerging as an early front-runner….

Full Article (Paywall with one-month free trial on offer)

Shell and BP investors look to results after tough year for oil majors

By Press Association:  23/10/2020, 3:45 pm

Britain’s two biggest oil companies are set to update shareholders next week amid a low oil price and a race to reduce emissions.

Investors will be leafing through BP’s results on Tuesday, while Shell will present how its third quarter went two days later.

Shares in both have cratered during 2020, as oil prices fell to record lows at one point at the beginning of the pandemic. read more

Stephanie Kirchgaessner and Emily Holden in Washington

Sat 24 Oct 2020 09.15 BSTLast

Amy Coney Barrett is poised to make critical rulings on whether oil and gas companies will be held accountable for the effects of the climate crisis once she is confirmed to the supreme court, even though she has acknowledged in the past that she has a conflict of interest in cases involving Royal Dutch Shell.

As an appellate court judge, Barrett – who is expected to be confirmed to the supreme court on Monday – recused herself from cases involving four Shell entities because her father worked at Shell Oil Company as a lawyer. read more