Oil giant Shell is set to unveil record profits of more than £30 billion as households and businesses grapple with sky-high energy bills.
The corporate giant is expected to say this week that annual profit more than doubled as the war in Ukraine restricted supplies from Russia, sending the price of gas and electricity rocketing.
The FTSE100 behemoth and its arch rival BP have faced mounting criticism for cashing in. BP chief executive Bernard Looney famously described his company as resembling a ‘cash machine’ because of the amount of money it has made from elevated prices.
But, since he made those comments in 2021 – three months before the invasion of Ukraine – the profits made by BP and Shell have continued to escalate rapidly.read more
He is one of the most powerful business leaders on the planet, with a pay package of £6million in 2021.
But, in a candid admission that will strike a chord with anyone who feels their talents are overlooked at work, Shell chief executive Ben van Beurden says his stellar career was almost derailed two decades ago.
The Dutch oilman says that when he was in his 40s he was told at an assessment centre for leadership training that he did not have what it took to get to the top.read more
Oil and gas titans are set to reap a mammoth taxpayer giveaway of up to £7.5billion despite making record profits.
BP and Shell are among the firms that will benefit from new tax breaks, despite BP boss Bernard Looney comparing his firm to a ‘cash machine’.
Energy giants already receive Treasury incentives to invest in the North Sea, but fresh changes have been ushered in that will turbocharge the subsidies. The plans have been introduced at the same time as the Government’s £5billion ‘windfall tax’ – billed as taxing energy firms to help pay for the cost-of-living crisis.read more
Shell has handed out a bonus to its employees following bumper profits amid surging energy prices.
The oil giant has awarded most of its 82,000 staff a bonus equal to 8 per cent of their annual salary after reporting a record profit of £9.5bn in the second quarter of this year as it cashed in on higher oil and gas prices.
Executive vice-presidents or higher will not receive the bonus. The average salary for Shell UK employees is around £52,000 per year, meaning a British worker will get £4,200.read more
Shell suffered a backlash from fuel campaigners after it revealed it could rake in up to £1billion in extra cash as a result of soaring petrol prices.
The FTSE100 energy firm’s refining business, which turns crude oil into different petroleum products such as car fuel, was expected to see earnings rise by £667million to £1billion in the second quarter of 2022 compared to the first.read more
Shell may have to write off an investment of more than £3billion in a major Russian gas project after Vladimir Putin moved to seize control of the site.
The Kremlin has drawn up plans to transfer ownership of the Sakhalin-2 plant, located in the far east of the country, to a new Russian firm citing national and economic security interests.
Putin has given the project’s backers a month to decide whether they will take a holding in the new company, meaning those that refuse could lose all their money. Shell owns nearly 28 per cent of the Sakhalin-2 plant worth around £3.4billion.read more
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
Feb 22nd, 2022
by John Donovan.
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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
Feb 13th, 2022
by John Donovan.
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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
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
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
Nov 16th, 2021
by John Donovan.
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This is MONEY
Oil major switches sides: Shell’s UK move is a big plus for the City post-Brexit, says ALEX BRUMMER
By ALEX BRUMMER FOR THE DAILY MAIL
PUBLISHED:| UPDATED:
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
Nov 15th, 2021
by John Donovan.
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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
By RORY TINGLE, HOME AFFAIRS CORRESPONDENT FOR MAILONLINE
PUBLISHED:| UPDATED:
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
Oct 28th, 2021
by John Donovan.
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‘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
May 27th, 2021
by John Donovan.
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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
May 25th, 2021
by John Donovan.
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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
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
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON. EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
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See our link list of over 500 articles by the FT, Wall Street Journal, Reuters, Bloomberg, Forbes, Dow Jones Newswires, New York Times, CNBC etc, plus UK House of Commons Select Committee Hansard records, information on U.S. Securities & Exchange Commission websiteetc. all containing references to our Shell focussed websites, or our website founders Alfred and John Donovan. Includes TV documentary features in English and German, newspaper and magazine articles, radio interviews, newsletters etc. Plus academic papers, Stratfor intelligence reports and UK, U.S. and Australian state/parliamentary publications, also citing our Shell websites. Click on this link to see the entire list, all in date order with a link to an index of over 100 books also containing references to our non-profit websites and/or our activities.
John Donovan, the website owner
Oil giant Shell set to unveil record profits of more than £30bn as households and businesses grapple with sky-high energy bills
This is MONEY.co.uk
This is MONEY.co.uk
This is MONEY
Shell boss Ben van Beurden slammed for reaping more than £18m ahead of possible shareholder rebellion
Daily Mail: MailOnline
‘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
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
