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Shell boss Ben van Beurden slammed for reaping more than £18m ahead of possible shareholder rebellion

Shell boss Ben van Beurden slammed for reaping more than £18m ahead of possible shareholder rebellion

Shell boss Ben van Beurden has been slammed for reaping more than £18million ahead of a possible shareholder rebellion this week. 

Calculations by The Mail on Sunday show that the Dutch businessman – who has led Shell since 2014 – has seen the valuations of his shares and other payments soar.  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 boss blames hedge funds and speculators for sending gas prices to record highs and adding to volatility that has seen dozens of energy firms collapse

Shell boss blames hedge funds and speculators for sending gas prices to record highs and adding to volatility that has seen dozens of energy firms collapse

  •  Shell said huge sums moving in and out of the market were causing volatility 
  • Despite this, insisted prices were still largely influenced by supply and demand  
  • The price of gas is currently 173 pence per therm, up from 49 in January 2021 

Hedge funds and financial speculators piling into the European gas market have contributed to high and volatile prices over the past year, according to Shell.

The energy giant said the movement of large amounts of money in and out of the market meant prices were less linked to actual supply and demand. 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.

John Donovan, his website royaldutchshellplc.com and his main contributor on Shell safety issues, Bill Campbell

More information here about John Donovan (above), his website royaldutchshellplc.com and his main contributor on Shell safety issues, Mr Bill Campbell

Links here to several hundred articles and features by a host of publishers including the FT, Wall Street Journal, Reuters etc., containing references to Donovan Shell focussed websites, my late father or me, or in respect of Shell safety issues, our valued contributor, Mr Campbell.

Also citations by name or link references in over 100 books. 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 boss rakes in £7million in shares thanks to the cost of living crisis after the oil and gas giant recorded £12billion profits

Daily Mail: MailOnline

Shell boss rakes in £7million in shares thanks to the cost of living crisis after the oil and gas giant recorded £12billion profits

“He described Mr van Beurden as ‘yet another greedy oil corporation boss profiteering from the misery inflicted by rocketing energy costs’.”

  • Ben van Beurden, 63, has seen the value of his shares skyrocket amid price hikes
  • The CEO has received £71 million in pay and bonuses since taking the job
  • The spike helped the energy giant Shell to unveil a 14-fold increase in profits 

The chief executive of Shell has been criticised after his firm cashed in on the cost of living crisis – leaving him with a lucrative windfall. 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.

Experts warn Shell and BP could find it ‘impossible’ to work in Russia if it invades Ukraine

Experts warn Shell and BP could find it ‘impossible’ to work in Russia if it invades Ukraine

  • Western countries have threatened to impose crippling sanctions on Moscow 

  • US, UK and EU are drawing up plans to hit Russian gas projects with curbs

Shell and BP could find it ‘impossible’ to work in Russia if it invades Ukraine, experts have warned.

Western countries have threatened to impose crippling sanctions on Moscow after it began building up troops on the Ukrainian border.

 Analysts said soaring oil prices could cushion the blow for Shell, BP and other firms affected by the rules.

Shell works in Russia with energy giant Gazprom and BP with state-backed oil firm Rosneft, in which the British group owns an almost 20 per cent stake. 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 major switches sides: Shell’s UK move is a big plus for the City post-Brexit, says ALEX BRUMMER

This is MONEY

Oil major switches sides: Shell’s UK move is a big plus for the City post-Brexit, says ALEX BRUMMER

Shell’s decision to sacrifice its ‘Royal Dutch’ designation and unify its domicile in London is epoch-making.

It is a big plus for the City post-Brexit, even if there are green campaigners who will find the increased presence of an oil major in the UK a cause for disquiet. 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 moves its HQ to London from the Netherlands and plans to scrap ‘Royal Dutch’ from its name

Minister hails ‘vote of confidence’ for Brexit Britain as Shell moves its HQ to London from the Netherlands and plans to scrap ‘Royal Dutch’ from its name

  • Kwasi Kwarteng said decision – subject to a vote – would ‘create jobs’ in Britain
  • Board meetings and senior executives will move to London in boost for capital 
  • Decision follows lawsuit by climate activists to force Shell to slash emissions 

Oil giant Shell today announced it will move its headquarters and tax residence to the UK and drop ‘Royal Dutch’ from its name for the first time in 130 years.

The decision was hailed as a ‘clear vote of confidence in the British economy that will ‘create jobs’ by business secretary Kwasi Kwarteng. The firm pays hundreds of millions of pounds worth of taxes every year, which will now go to the Treasury. 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.

‘Activist’ Billionaire hedge fund manager Daniel Loeb buys $500m stake in Royal Dutch Shell and demand it splits in two to focus on renewable energy

‘Activist’ Billionaire hedge fund manager Daniel Loeb buys $500m stake in Royal Dutch Shell and demand it splits in two to focus on renewable energy

  • Billionaire hedge fund manager Daniel Loeb, head of Third Point LLC, has acquired $500million in shares of Royal Dutch Shell PLC 
  • In a letter obtained by The Wall Street Journal the firm has demanded that the oil major to separate into two separate entities 
  • One would include Shell’s legacy businesses and provide steady cash flow while the other would house renewables and other units needing more investment 
  • Third Point’s suggestions come after Exxon shareholders elected a third director nominated by activist hedge fund Engine No 1 to the energy company’s board
  • Alexander Karsner, a senior Google strategist, joins environmental scientist Kaisa Hietala and former Andeavor CEO Gregory Goff on the 12-person board 

A billionaire hedge fund manager has acquired a large stake in Royal Dutch Shell PLC and is demanding that the oil major to separate into two separate companies.

Daniel Loeb’s Third Point LLC is pushing for the separation to attract new investors and hold on to current ones as many have sold their shares over concerns that Shell is not environmentally friendly.

According to The Wall Street Journal the activist hedge fund’s stake in Shell is worth more than $500million and is one of Shell’s largest investors. 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.

Big Oil’s climate change revolt

DAILY MAIL: MailOnline

Big Oil’s climate change revolt: In just one day green activists win seats on Exxon board, Chevron investors demand emission cuts and court orders Shell to slash carbon

  • Top US and European oil companies had startling developments on Wednesday
  • Activist investor hedge fund won two seats on the board of Exxon Mobil
  • Gregory Goff and Kaisa Hietala will now join Exxon’s 12-member board
  • Chevron shareholders also voted in favor of a proposal to cut emissions 
  • Dutch court ordered Royal Dutch Shell to drastically deepen carbon cuts 

Some of the world’s biggest oil companies are facing stark pressure from activists concerned about climate change, prompting a string of startling developments on Wednesday.

At Exxon Mobil, an activist hedge fund won two board seats, while Chevron investors voted to force the company to cut emissions and a Dutch judge order Shell to drastically cut carbon. 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.

Funds heavyweight LGIM joins shareholder revolt against Shell’s plans to curb carbon emissions because they ‘don’t go far enough’

Funds heavyweight LGIM joins shareholder revolt against Shell’s plans to curb carbon emissions because they ‘don’t go far enough’

  • Legal & General’s asset management arm LGIM said Shell plans not ‘credible’ 
  • LGIM part of 30% to back resolution by shareholders activist group Follow This
  • Follow This urged Shell to set ‘inspirational’ targets to battle emissions
  • Another UK asset manager – Sarasin & Partners – also piled pressure on Shell and BP, saying that they were not ‘serious’ about hitting net-zero emission targets 

Legal & General’s asset management arm has emerged as one of the investors to have voted against Royal Dutch Shell’s climate plans last week.

While acknowledging that some progress was being made, LGIM said today that the oil major’s targets to reduce carbon emissions and oil and gas production lack credibility and fall short of tackling climate breakdown. 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 Royal Dutch Shell says it will take a £145m first-quarter hit from Texas freeze that left nearly 200 dead

Oil giant Royal Dutch Shell says it will take a £145m first-quarter hit from Texas freeze that left nearly 200 dead

  • Severe freezing weather hit Texas in February this year triggering many deaths
  • Millions of people were also left without power and Shell’s operations were hit 

Royal Dutch Shell has warned that the severe winter storm in Texas earlier this year looks set to hit its bottom line for the fist quarter.

In February, a snowstorm swept across Texas and swathes of North America, knocking out sections of the former’s electricity grid, leaving millions without power and nearly 200 people dead. 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.

Big oil goes green: Shell buys electric car charging company as BP cuts back on its exploration arm

Big oil goes green: Shell buys electric car charging company as BP cuts back on its exploration arm

Two of Britain’s largest oil producers have taken major steps in their battle to go green.

BP has dismantled its century old exploration team, cutting the division to less than 100 employees from over 700 just a few years ago.

And rival Shell bought Ubitricity, the largest electric vehicle charging network in the UK. 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.

City investors deserting oil giants

City investors deserting oil giants 

Fund titans blacklist BP over green shift: Fidelity among City investors deserting oil giants – as clean energy plans fuel profit fears

  • BP and Shell are undergoing the biggest restructurings in their histories, shedding a total of 19,000 jobs globally 
  • Both have committed to cutting the carbon footprint of the oil and gas they produce to net zero by 2050

EXTRACTS:

BP and Shell are undergoing the biggest restructurings in their histories, shedding a total of 19,000 jobs globally. Both have committed to cutting the carbon footprint of the oil and gas they produce to net zero by 2050.

BP chief executive Bernard Looney said in August that his company is shifting to a low-carbon business because ‘the energy mix is changing’, with greater demand from customers for cleaner fuels. The pandemic has made the shift more urgent as global oil prices and demand have collapsed further. 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.

Should you ditch energy giants as the age of oil ends?

Should you ditch energy giants as the age of oil ends? Or try to clean up as they go green?

There has been talk of the demise of oil and gas for decades. But you know that things are getting serious when even the boss of oil giant BP, Bernard Looney, warns that demand for oil may peak in the next few years and then decline.

The so-called energy transition from fossil fuels to renewables is gaining momentum. 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 joins other oil giants in slashing spending after coronavirus and ‘oil war’ between Russia and Saudi Arabia causes prices to collapse

Royal Dutch Shell has announced it is planning to save at least $8billion in the coming year following the huge fall in oil prices.

The world’s ninth-largest company by revenue says capital expenditures are to be scaled back by $5billion. At the same time, underlying operating costs will be cut by at least $3billion to help cope with the impact of the coronavirus.

It still plans to go ahead with their $10billion divestment programme but have cancelled the next tranche of their share buyback programme. 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.

IN THE MONEY: Shell boss Ben van Beurden pocketed £8.7m last year despite taking a 51% pay cut

Shell’s boss’s pay was cut in half in 2019.

The FTSE 100 energy business said Ben van Beurden was paid £8.7million last year – a 51 per cent drop on 2018. 

It came after a year when seven people died while working for the company and its turnover dropped.

Van Beurden has been chief executive since 2014. 

His base salary was around £1.4million and he received more than £6million from a long-term performance share plan.  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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