The £80million boss of Shell is preparing to join the stream of FTSE100 bosses heading for the door.
Ben van Beurden – who, it emerged in March, bagged £4.6million in bonuses on top of his £1.4million salary last year, taking his total pay and bonuses to almost £80million during his nine years at the helm – could step down as soon as 2023 as the oil giant begins its search for a replacement.
His departure will mark the end of an era for Shell, as it tries to toe the tricky line of boosting Britain’s energy security with embracing sustainable technologies. While Van Beurden’s legacy includes a commitment to reduce oil production, he has been criticised for failing to take more drastic action.read more
Aug 10th, 2022
by John Donovan.
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Shell completes acquisition of renewables platform Sprng Energy group
Aug 9, 2022
Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), has completed its 100% acquisition of Solenergi Power Private Limited and with it, the Sprng Energy group of companies from Actis Solenergi Limited (Actis).
Sprng Energy, set up in 2017 by Actis, is a renewable energy platform based in Pune, India, and develops and manages renewable energy facilities such as solar and wind farms and infrastructure assets.
The solar and wind assets Shell acquires through the deal will triple Shell’s present renewable capacity in operation and help deliver its Powering Progress strategy. An important part of Powering Progress is to develop an integrated power business, which will help Shell reach its target of becoming a profitable net-zero emissions energy business by 2050.
Notes to editors
On April 29, 2022, Shell announced the signing of an agreement to purchase Solenergi Power Private Limited and the Sprng Group of Companies.
Subject to closing adjustments, about half of the previously announced transaction value ($1.55 billion) will be reported as cash capex and the remainder assumed as debt obligations.
In February 2021, Shell announced its Powering Progress strategy, including details of how it expects to achieve its target to be a net-zero emissions energy business by 2050. For more, visit http://www.shell.com/poweringprogress.
Actis is a leading global investor in sustainable infrastructure. For more, visit https://www.act.is/
Cautionary note
The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this announcement, “Shell”, “Shell Group” and “Group” are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this announcement refer to entities over which Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. “Joint ventures” and “joint operations” are collectively referred to as “joint arrangements”. Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.read more
Gen Z will be a vital piece of the global workforce moving forward, and Big Oil is no exception.
Oil and gas firms are now doing everything they can to secure the next generation of talent.
Shell is even taking to TikTok to appeal to the younger, more climate-aware audience.
Oil and gas firms are increasingly realizing the importance of appealing to the Gen Z population, particularly as their voices on social media and other public forums are influencing the climate change response and national energy agendas. With more pressure than ever to transition away from fossil fuels to renewable alternatives, oil and gas firms may rely on this young generation for their survival in the coming decades.read more
OXFORD, England (Reuters) – Shell is considering boosting shareholder returns on the back of bumper profits from soaring energy prices, while the extra cash will also help it shift more swiftly towards renewables and low-carbon energy, the chief executive said on Thursday.
Europe’s largest oil and gas company, as well as rivals including BP, have seen profits surge this year following two years of declining revenues due to the pandemic.read more
Jul 8th, 2022
by John Donovan.
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Shell to start building Europe’s largest renewable hydrogen plant
Shell Nederland B.V. and Shell Overseas Investments B.V., subsidiaries of Shell plc, have taken the final investment decision to build Holland Hydrogen I, which will be Europe’s largest renewable hydrogen plant once operational in 2025.
The 200MW electrolyser will be constructed on the Tweede Maasvlakte in the port of Rotterdam and will produce up to 60,000 kilograms of renewable hydrogen per day.read more
Jun 30th, 2022
by John Donovan.
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DutchNews.nl
Carbon dioxide compensation? Shell again criticised for misleading advert
June 30, 2022
The Dutch advertising standards authority has again criticised an advert by oil giant Shell, following complaints by anti-fossil fuel campaigners and Greenpeace Nederland.
The company cannot claim that compensating for carbon dioxide emissions nullifies the damage to the climate caused by a car trip, the commission said on Wednesday.
Last year, the RCC ordered the term CO2-neutral be removed from the same ad. Shell complied, and replaced it with the CO2 compensation claim.read more
Jun 29th, 2022
by John Donovan.
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Shell Chief Paints Bleak Picture on Global Energy Supply
The world is heading for a “turbulent period” as tightening supplies of liquefied natural gas and oil exacerbate a global energy crunch, Shell Plc Chief Executive Officer Ben van Beurden said.
Bloomberg News: Jun 29, 2022: Sharon Cho, Stephen Stapczynski and Laura Hurst
(Bloomberg) — The world is heading for a “turbulent period” as tightening supplies of liquefied natural gas and oil exacerbate a global energy crunch, Shell Plc Chief Executive Officer Ben van Beurden said.
Speaking in Singapore, the CEO painted a bleak picture of an energy supply that will struggle to replace large swathes of Russian oil and gas that still flow into Europe.read more
Now Britain has received a major boost to those plans as Shell has announced that it is looking to expand its business supplying electricity to UK households.
As part of its own push towards clean energy and away from oil and gas, the UK-based energy firm plans to supply clean power to five million households and electric car drivers by 2030, up from about 1.5 million today.
According to the Telegraph, Shell is planning to invest £20billion-£25billion in the UK over the decade, with over 75 percent of that sum being invested in low carbon energy such as wind turbines and electric car charging points.read more
Jun 13th, 2022
by John Donovan.
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The Telegraph
Shell plans to expand amid energy market chaos
The FTSE 100 company plans to invest £20bn-£25bn in the UK
By Rachel Millard: 13 June 2022 • 7:27pm
Shell is pursuing a significant expansion of its business supplying electricity to UK households amid intense volatility in energy markets.
The FTSE 100 company wants to supply clean power to five million households and electric car drivers by 2030, up from about 1.5m today, as part of plans to diversify away from oil and gas.
Shell plans to invest £20bn-£25bn in the UK over the decade, more than 75pc of which will go towards low carbon energy such as wind turbines and electric car charging points.read more
HOUSTON, June 7, 2022 /PRNewswire/ — Shell today announced the launch of the Shell Energy brand into the residential power market in the United States. Through Shell Energy Solutions (“Shell Energy”) the company now offers 100% renewable electricity plans to eligible customers in Texas, expanding its portfolio of offerings and giving residential customers access to renewable electricity plans while building on the trusted relationships the company has built with Texans over decades.read more
HOUSTON — Shell said on Tuesday that it would begin selling electricity generated from renewable sources to residents and businesses in Texas, a move that brings the European oil company’s shift to green energy to the U.S. market.
The announcement underscores a widening gulf between the strategies of European and U.S. oil companies as elected leaders and consumers demand that the energy industry do more to tackle climate change. European businesses including Shell, BP and TotalEnergies are seeking to expand into renewable energy, electric vehicle charging and other fast-growing businesses as U.S. companies like Exxon Mobil and Chevron mostly keep their focus on oil and gas while investing in capturing carbon from industrial plants and biofuels.
Shell, which already has electricity businesses in nine countries, plans to double the amount of electricity it sells by 2030. The company, which is based in London, is Europe’s largest oil and gas business by revenue and has operations in more than 70 countries, including gas stations, refineries and oil and gas fields.read more
Jun 2nd, 2022
by John Donovan.
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Shell completes acquisition of Landmark fuel and convenience network
Jun 1, 2022
Shell Retail and Convenience Operations LLC, a wholly owned subsidiary of Shell Oil Products US (Shell), has completed the acquisition of certain company-owned fuel and convenience retail sites from the Landmark group of companies (Landmark). The acquisition also includes supply agreements for the independently operated fuel and convenience sites.
Building on the strength of its existing networks, this acquisition brings Shell closer to its customers and enhances Shell’s market presence by growing its mobility footprint in a key region in the U.S., which is one of the largest fuels and convenience retail markets in the world.read more
Five years ago, Shell chief executive Ben van Beurden sat down for an interview with The Washington Post and said “we believe that climate change is real. We believe that the threat of climate change is real. And we believe that action is needed.”
Then he added: “It doesn’t mean we have to kiss hydrocarbons goodbye. In fact, we can’t. But it does mean that we have to make more intelligent choices.”
Today, however, Shell and other oil companies are under fire from those who don’t believe industry leaders are making intelligent choices. Dissident shareholders sought to use annual meetings to press their cases this week. And at Shell’s annual meeting in London on Tuesday, dozens of climate activists wore “Christian Climate Action” T-shirts and rhythmically chanted “we will, we will stop you,” forcing the company’s chairman to halt the proceedings for over an hour.read more
Shell has slammed the government’s windfall tax, saying while it “understands the worry for million” about the cost of living it will creates “uncertainty” about investment.
This follows Chancellor Rishi Sunak announcing a so-called Energy Profits Levy, a 25 per cent surcharge on North Sea oil and gas sector profits, which could last for up to three years.
The Treasury expects the tax will raise around £5bn over the next 12 months – which will help fund a £15bn package to save the country’s most vulnerable households £1,200 this year.
After BP said the tax may force it to reconsider its UK investment plans, Shell is the latest energy giant to come out against the levy.
A spokesperson told City A.M. : “We understand the worry for millions of people about how high energy costs are challenging their household budgets – and the need for support to help make ends meet.”read more
May 28th, 2022
by John Donovan.
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SOURCE MSN/Independent
I worked at Shell for 33 years – the government is wrong on North Sea oil
By Grahame Buss: 27 May 2022
I was a principal scientist for the oil company Shell, for which I worked for 33 years. I have a degree in aeronautical engineering and a PhD in fluid mechanics.
I recently read a letter from the business and energy secretary, Kwasi Kwarteng, in which he tries to justify government plans to encourage investment in new North Sea oil and gas. He says it would “protect Britain’s energy security” and smooth the “transition to cheap, clean, home-grown energy”, as well as cutting energy bills.
But expanding North Sea oil will do none of those things, for several reasons.
We don’t own the oil and gas, which we give away to energy companies together with substantial subsidies. They sell the oil and gas to the highest bidder on international markets, keep all the revenue, and are currently making eye-watering profits on which they pay almost no tax. Almost 80 per cent of UK production of crude oil is exported and plays no part in our domestic energy security.
We don’t own the companies that exploit this oil and gas. According to one study, more than a third of the licence blocks in the North Sea now have a private or state-backed controlling interest, with fossil fuel firms from China, Russia and the Middle East playing an increasingly dominant role. As well as being unaccountable to UK shareholders, these businesses have no strategic interest in UK energy security or in keeping bills low for UK households.read more
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
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
ESTHER KIOBEL SUES SHELL FOR COMPLICITY IN HUSBANDS MURDER
ESTHER KIOBEL: EVIL OIL GIANT SHELL COLLUDED IN THE EXECUTION OF MY INNOCENT HUSBAND
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
ABANDONED BY SHELL: KEITH MACDONALD & FAMILY, VICTIMS OF RADIOACTIVE CONTAMINATION AT WORK
ROYAL DUTCH SHELL FOUNDER SIR HENRI DETERDING, NAZI FINANCIER
JOHN DONOVAN PROMOTIONAL GAMES FOR SHELL AND OTHER CLIENTS
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The Telegraph
Shell launches residential power brand Shell Energy, enters Texas market with 100% renewable electricity plans
The Washington Post
: 27 May 2022
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