News and information on Shell Plc
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.
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
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.
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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.
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’.”
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.
This is MONEYShell 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.
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.
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
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.
‘Activist’ Billionaire hedge fund manager Daniel Loeb buys $500m stake in Royal Dutch Shell and demand it splits in two to focus on renewable energyA 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.
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
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.
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 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.
Oil giant Royal Dutch Shell says it will take a £145m first-quarter hit from Texas freeze that left nearly 200 dead
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.
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.
City investors deserting oil giants
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.
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.
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.
By DAILY MAIL CITY & FINANCE REPORTER|
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.
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