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: 22:01, Sat, Jan 28, 2023 | UPDATED: 22:31, Sat, Jan 28, 2023

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

EXPRESS

While ordinary Brits struggle BP and Shell shareholders celebrate Putin-war pay-day

Today BP announced it had made £7.1bn in profit over the last three months. Tagged onto their profit figures was the announcement that the oil giant would initiate a new round of share buybacks totalling $2.5 billion.

By DR GEORGE DIBB: 19:08, Tue, Nov 1, 2022 | UPDATED: 19:29, Tue, Nov 1, 2022

Share buybacks, which involve a company repurchasing its own stock to artificially boost its overall share price, were illegal in the UK until 1981 because they were considered a form of market manipulation. Last week, Shell also announced it would spend nearly half of its $9.5 billion profits on a bumper $4 billion buyback programme for shareholders. At the same time, the oil multinational revealed it hadn’t paid a single penny of the windfall tax in the UK. read more

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

09:59, Thu, Aug 4, 2022 | UPDATED: 11:55, Thu, Aug 4, 2022

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

EXPRESS.co.uk

Worst UK internet providers revealed

BROADBAND customers thinking of switching to a different UK provider have just been given a helping hand.

By DION DASSANAYAKE 09:02, Thu, Jul 14, 2022 | UPDATED: 10:08, Thu, Jul 14, 2022

A new study has taken a look at the leading broadband providers in the UK and ranked them on how many complaints they receive. The figures, from regulator Ofcom, has revealed how many moans Internet Service Providers (ISPs) such as Virgin Media, BT and Sky received in the first three months of this year. And the ISP that had the most complaints in Q1 2022 was Shell Energy, who also received the most complaints about landline services for the same period. read more

EXPRESS

Energy crisis lifeline: Shell announces plans for £25bn injection into UK clean power

SHELL has announced its plans to massively expand in the UK, boosting its energy security with an investment worth up to £25billion.

By ANTONY ASHKENAZ 12:12, Tue, Jun 14, 2022 | UPDATED: 12:13, Tue, Jun 14, 2022

Russia’s invasion of Ukraine and the volatility of the global fossil fuel energy market have pushed European countries, including the UK, to ensure their own energy security. As the cost of wholesale gas around the world skyrockets, the UK has announced ambitious renewable energy generation targets, along with major investments in low-carbon sources of energy like wind and nuclear power.

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

EXPRESS

BP and Shell record mega-profits as firms exploit soaring energy prices

RECORD gas and oil prices since the Ukraine conflict have helped deliver bumper dividends for shareholders in energy companies.

By TOM HILL

13:56, Wed, Apr 27, 2022 | UPDATED: 13:57, Wed, Apr 27, 2022 Both gas and oil prices had already been pushed up over winter as supply failed to keep pace with demand bouncing back from the pandemic. Since Russia’s invasion of Ukraine prices have been squeezed even further with oil soaring past $100 (£79.64) a barrel to heights of up to $130 (£103.52). The increased revenue from energy has helped deliver soaring returns for investors with the oil sector seeing dividends rise 29 percent in the first quarter of 2022 according to data firm Link Group. Link points to an “astonishing rebound in oil prices” which it says has “delivered a dramatic turnaround” for energy firms. The contribution of energy firms helped drive up UK dividends by an average 12.2 percent on an adjusted basis.

Among the top 10 dividend payers for 2022 are Shell, BP and National Grid.

The growing profits for energy firms has attracted criticism given the UK’s current cost of living crisis with some calling for a windfall tax on the gains.

So far though the Government has dismissed the idea with Justice Secretary Dominic Raab calling the idea “disastrous”. read more

Express

Brexit Britain win confirmed as Shell overwhelmingly backs UK move – Dutch snubbed

SHAREHOLDERS in oil giant Shell have given their backing to proposals to move the Anglo-Dutch company’s headquarters to London from the Netherlands.

By TOM HILL: 14:11, Fri, Dec 10, 2021 | UPDATED: 14:11, Fri, Dec 10

According to preliminary polling 99.77 percent of shareholders so far had backed the move with just under 58 percent of votes cast. Final results are expected later in the day although it is thought the result is unlikely to change.

The company follows another Anglo-Dutch firm, Unilever, which also decided to move its headquarters to London from the Netherlands. Shareholders were asked to vote on a range of new proposals aimed at simplifying the company’s structure which will also see it drop ‘Royal Dutch’ from its official name. read more

Express

Project Fear exposed: Four major warnings Remainers got wrong – as Shell relocates to UK

BREXIT BRITAIN’S latest victory will see oil giant Shell relocate its headquarters to the UK has fuelled new Frexit calls, with a leading campaigner insisting it once again proves how Project Fear was “wrong on everything”.

By PAUL WITHERS: 07:30, Sun, Nov 28, 2021 | UPDATED: 08:51, Sun, Nov 28, 2021

In a huge win for Brexit Britain, Royal Dutch Shell is scrapping its dual share structure and moving its head office to the UK from the Netherlands. The company is dropping “Royal Dutch” from its name – part of its identity since 1907 – to become Shell Plc. The firm has been at the centre of a bitter row with Dutch authorities over the country’s 15 percent dividend withholding tax on some of its shares, which makes them less attractive for investors. read more

Express.co.uk

Brexit success: Shell headquarter move shows Remoaner predictions are ‘other way around’

OIL giant Shell is relocating its headquarters from the Netherlands to the UK, a move some are labelling as proof that Brexit is not synonymous with losing foreign business.

By TERESA GOTTEIN MARTINEZ

Sat, Nov 20, 2021 

Shell has this week announced it was ready to sacrifice the designation “Royal” — from Royal Dutch Shell — to shift its tax residency from the EU to the UK. It already chose the country as its corporate base and primary stock market listing in 2005 but now, “despite Brexit“, the British-Dutch multinational will call London its only home. read more

Express.co.uk

‘Political bomb!’ Shell ‘doing own Brexit’ with huge EU snub in favour of UK move

THE European Union has been destroyed after being told oil giant Shell is “doing its own Brexit” by relocating its HQ from the Netherlands to the UK, with one political expert branding the news a “political bomb”.

By PAUL WITHERS

07:00, Sat, Nov 20, 2021 | UPDATED: 08:49, Sat, Nov 20, 2021

In a huge win for Brexit Britain, Royal Dutch Shell is scrapping its dual share structure and moving its head office to Britain from the Netherlands. The company is dropping “Royal Dutch” from its name – part of its identity since 1907 – to become Shell Plc. The firm has been at the centre of a bitter row with Dutch authorities over the country’s 15 percent dividend withholding tax on some of its shares, which makes them less attractive for investors. read more

‘Desperate’ Dutch PM blasted as he scrambles to stop Shell’s move to UK

DUTCH Prime Minister Mark Rutte suffered a brutal attack after his government attempted to convince Royal Dutch Shell not to leave the Netherlands for the UK.

By ALESSANDRA SCOTTO DI SANTOLO Wed, Nov 17, 2021  Royal Dutch Shell said on Monday it would scrap its dual share structure and move its head office to Brexit Britain from the Netherlands, pushed away by Dutch taxes and facing climate pressure in court as the energy giant shifts from oil and gas. The company, which long faced questions from investors about its dual structure and had recently been hit by a Dutch court order over its climate targets, aims to drop “Royal Dutch” from its name – part of its identity since 1907 – to become Shell Plc.

The firm has been in a long-running tussle with the Dutch authorities over the country’s 15 percent dividend withholding tax on some of its shares, making them less attractive for international investors.

Shell introduced the two-class share structure in 2005 after a previous corporate overhaul. read more

EXPRESS

Nigel Farage heralds ‘victory for Brexit Britain’ after hearing ‘good news’ for business

GB NEWS presenter Nigel Farage was ecstatic to hear the latest news surrounding Royal Dutch Shell’s reshuffle and welcomed it as a big victory for Brexit Britain.

By KYLE FARRELL: 18:20, Wed, Nov 17, 2021 

Oil company Royal Dutch Shell will ask its shareholders whether it should move its tax residence and headquarters from the Netherlands to the UK in an attempt to simplify the company’s structure. The company would also drop the “Royal Dutch” from its name under the reshuffle as it clashes with the Netherlands Government over emission and dividend targets. Nigel Farage appeared on his late-night GB news programme and heralded it as a big victory for Brexit Britain as the former MEP said it shot down criticisms the UK would lose all of its businesses because of the referendum. read more

Express.co.uk

Popular broadband company quietly drops promise to customers, here’s what you need to know

By AARON BROWN: 10:14, Wed, Oct 6, 2021 | UPDATED: 10:14, Wed, Oct 6, 2021

Shell Energy Broadband has dropped its pledge to never increase your monthly bills at the end of your contract. In addition, the broadband provider will adopt annual price hikes for its customers. Shell Energy will raise its prices by the Consumer Price Index (CPI) plus up to 3 percent – that’s the same formula used by BT and EE.

Until now, Shell Energy Broadband differentiated itself from other internet suppliers with its pledge that it would never rise monthly bills. Even when contracts came to an end, customers could expect to see the same amount leave their current account every month. As such, customers didn’t necessarily need to worry about shopping around for new deals from their existing provider or discounts from new firms to stop spiralling bills. read more

Controversial £15 fee to ‘switch to a rival broadband firm’ is finally scrapped

By AARON BROWN PUBLISHED: 07:21, Thu, Apr 1, 2021

EXIT FEES were once commonplace from broadband providers, but have become something of a rarity in recent years. Shell Energy was one of the few hanging on, but thanks to pressure from Ofcom, it has now decided to ditch the £15 cost to move to BT, EE, Sky, or another rival internet supplier.

Internet supplier Shell Energy has confirmed plans to ditch its controversial £15 “cease fee” that was applied to home broadband customers who wanted to move to a rival provider. Bafflingly, the extra cost even applied to those who had come to the end of their minimum contract term. Most rival providers, including BT, Sky and Virgin Media, don’t charge a fee for users to leave when they’ve come to the end of their original contract – instead, these extra costs usually only rack up when leaving early. read more

Broadband bills will increase for thousands of Shell customers in a DOUBLE price rise

BROADBAND customers who have a contract with Shell Energy could face two price increases to their monthly bills in the coming months, the home internet provider has confirmed.

By AARON BROWN 08:36, Tue, Dec 15, 2020 | UPDATED: 08:36, Tue, Dec 15, 2020

Shell Energy will increase prices for some broadband customers twice in the next six months, it has confirmed. The internet service provider has informed all customers who signed-up to one of its broadband plans before September 2, 2020 that a price hike to their home broadband and phone services will kick-in on January 11, 2020. read more

Remainers proved wrong as Shell boss hints at switching HQ from Netherlands to London

OIL giant Royal Dutch Shell could relocate its headquarters from the Netherlands to the UK in a post-Brexit boost for the country.

By JOE BARNES, BRUSSELS CORRESPONDENT PUBLISHED: 11:14, Mon, Jul 6, 2020 | UPDATED: 15:26, Mon, Jul 6, 2020   Ben van Beurden, Shell’s chief executive, hinted the company is seeking to simplify its complex capital structures. The potential move would be considered a significant victory for Britain in the months after quitting the European Union. Just last month Unilever, the Anglo-Dutch consumer goods group, revealed it would merge its British and Dutch holding companies into one based in London.

Asked whether Shell could replicate Unilever, Mr van Beurden told Dutch newspaper Het Financieele Dagblad: “One always needs to keep thinking.

“Nothing is permanent and, of course, we take the investment climate into account.

“But moving your HQ is not a trivial measure, one should not be too easy about that.”

The oil giant is one of the largest listed companies in the UK, with a market capitalisation of £100 billion and more than 80,000 employees around the world. read more