Posts under ‘Goodbye Royal Dutch Shell Plc’

Bloomberg

Shell Climate Case to Return to Focus at Annual Shareholder Meeting

Laura Hurst, Bloomberg News

(Bloomberg) — Climate issues are set to take center stage at Shell Plc’s annual general meeting on Tuesday, with a key group saying the energy giant isn’t abiding by a landmark court order requiring it to cut emissions by 45% by 2030.  

Milieudefensie, the Dutch arm of Friends of the Earth, says Shell’s plans around customer-related emissions — which make up the bulk of its pollution — aren’t in line with last year’s judgment. The group originally brought the case against the company.

“The judge’s verdict is clear and necessary: Shell must stop causing dangerous climate change,” said campaign spokesperson Nine de Pater, who plans to attend the meeting in London as a proxy shareholder.  read more

FT

Odey urges Shell to drop appeal against order to slash emissions

Clifford Chance to handle Shell’s appeal against sensational defeat in the Milieudefensie case

The following are translated extracts from an article published on 19 May 2022 by the Dutch financial newspaper, the fd.

By Martijn Pols and Joris Polman.

Oil company Shell has set aside house lawyer De Brauw Blackstone Westbroek after the sensational defeat against Milieudefensie. Exactly one year ago, the judge forced Shell to tighten up its climate policy.

Shell appealed but had no confidence in a good outcome with De Brauw by its side. Lawyers for British Clifford Chance can now make another attempt. read more

CITYA.M.

Shell suffers blow as investor group withholds approval for energy transition plan

NICHOLAS EARL: MONDAY 16 MAY 2022

Shell’s battle to gain approval for its energy transition plan has suffered a heavy setback, as a major investor announces its intention to abstain on a key resolution at the firm’s upcoming annual general meeting.

Royal London Asset Management (RLAM), which holds a £1.2bn stake in the energy giant, has criticised the oil and gas trader’s climate transition plans. read more

CITYA.M. 

Activist investor prepares to take on Shell over climate targets

NICHOLAS EARL: THURSDAY 12 MAY 2022

Shell is preparing for a shareholder showdown at its upcoming general meeting later this month, with activist group Follow This pushing the energy giant to commit to more stringent environmental targets.

It has warned shareholders that Shell’s current transition plans are not aligned with the Paris Agreement, and has filed a motion – resolution 21 – calling for the oil and gas major to publish targets that cover short, medium and long term emissions in both its operations and the use of its energy products. read more

Bloomberg

Loeb’s Third Point Adds to Shell Position: The London Rush

Bloomberg News: Charles Capel and Leonard Kehnscherper: May 09, 2022(Bloomberg)

EXTRACT

Third Point Investors Ltd: Dan Loeb’s flagship Offshore Fund returned -11.5% in the first quarter of 2022, dragged down by companies including  Rivian Automotive, Inc and Cie Financiere Richemont SA.  

The investment company said its stake in Shell Plc helped mitigate some of its losses, and it has found interesting new investments in oil and natural gas companies, as well as other companies that might benefit from inflation, supply shortages, and the energy transition read more

Reuters

Third Point’s Loeb praises Shell moves, sticks by calls for breakup

NEW YORK, May 7 (Reuters) – Activist investor Daniel Loeb, who wants Royal Dutch Shell Plc to break apart, applauded the energy giant’s decision to move its headquarters even as he sticks to views that a different corporate structure would make it more successful.

Loeb, who said in October that his hedge fund Third Point LLC had taken a $750 million stake in the company, told his own investors on Friday that he has added to his Shell stake and has held discussions with management, board members and other shareholders. read more

Evening Standard

Shell finance boss Jessica Uhl departs with £1 million payday

Renumeration bonanza at odds with drivers facing record petrol prices at pumps

By Mark Banham: 1st April 2022

Jessica Uhl’s renumeration package will include a £921,000 payment for “loss of office” plus salary paid until June this year and an as yet to be decided annual bonus. In addition, she will continue to receive pension payments and medical benefits until June despite officially stepping down yesterday.

She announced her departure from Shell early last month citing “family reasons”. She took the decision to leave after her position was moved from The Netherlands to London. read more

English translation of extracts from a Forbes article published in German on 1st March 2022. 

FORBES

CAN SHELL GREEN?

In the public perception, Shell is an industrial giant – now Fabian Ziegler, Chairman of the Management Board of Deutsche Shell Holding GmbH since spring 2020, wants to make the company greener.

Will the Swiss succeed in pulling off the coup so vital to the group’s survival?

Text: Matthias Lauerer
Photo: Deutsche Shell Holding GmbH

1st March 2022

Is Shell on its way to a carbon-neutral future? Will this be a reimagined world, where green hydrogen, e-mobility and decarbonization have become a reality? Or do they prefer to greenwash to perpetuate the dirty old business model on which the global economy hangs? read more

SHELL EXIT FROM RUSSIA

By John Donovan: 28 Feb 2022: 7.30 pm UK

I advised a news media source several hours ago that the prospect of a Shell exit from Russia had been discussed at the highest level of Shell.

An article has subsequently been published confirming Shell’s exit. read more

By John Donovan

Following the airing of a Channel 4 TV documentary Joe Lycett vs the Oil Giant on 24th October 2021, seismic changes have taken place at Royal Dutch Shell. 

Based on the timing of the chain of events, it appears that the documentary may have contributed to the decision to bring a sudden end to the oil giant in its Anglo-Dutch form, under which it operated for over a hundred years. 

Joe’s controversial impersonation of Royal Dutch Shell CEO Ben van Beurden including Ben shown literally talking shit about the green energy transition was cringe-making but made an impact. read more

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 

By ALEX LAWSON SENIOR CITY CORRESPONDENT FOR THE MAIL ON SUNDAY

PUBLISHED: 23:55, 5 February 2022 | UPDATED: 23:55, 5 February 2022

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

REUTERS

Shell ends 2021 on high note, hikes dividend, buybacks again

• Q4 21 profits soar to $6.4 bln, highest since Q1 2014
• Results boosted by strong LNG trading
• Company boosts 2022 spending plans

LONDON, Feb 3 (Reuters) – Shell (SHEL.L) again boosted its dividend and share repurchases on Thursday after fourth quarter profits hit their highest in eight years, fuelled by higher oil and gas prices and strong gas trading performance.

The strong results cap a year of dramatic recovery for Shell and the oil and gas sector after energy demand and prices collapsed in 2020 in the wake of the Coronavirus epidemic.

Shell shares were up 1.2% by 1015 GMT, compared with a 0.1% decline for the broader European energy index (.SXEP). read more

Daily Mail: MailOnline

Energy giant Shell posts ‘momentous’ £12BILLION profits as millions face soaring bills and cost-of-living crisis

By MARK DUELL FOR MAILONLINE and JASON GROVES and SEAN POULTER FOR THE DAILY MAIL: PUBLISHED: 09:01, 3 February 2022 | UPDATED: 09:15, 3 February 2022

Shell has increased its profits nearly fourteen-fold to £12billion amid soaring oil and gas prices – with the energy giant revealing a bumper three months on the same day that the UK price cap is set to rise by around £650. read more

CNBC

Oil major Shell reports sharp upswing in full-year profit, raises dividend and buybacks

• The British oil major posted adjusted earnings of $19.29 billion for the full-year 2021. For the final quarter of 2021, Shell reported adjusted earnings of $6.4 billion.
• Shell also announced an $8.5 billion share buyback program in the first half of 2022 and said it expects to increase its dividend by 4% to $0.25 per share in the first quarter.
• Energy majors are seeking to reassure investors they have gained a more stable footing two years after Covid-19 first shook markets.

Oil giant Shell on Thursday reported a sharp upswing in full-year profit, beating analyst expectations on rebounding commodity prices.

The British oil major posted adjusted earnings of $19.29 billion for the full-year 2021. That compared with a profit of $4.85 billion the previous year. Analysts polled by Refinitiv had expected full-year 2021 net profit to come in at $17.8 billion.

For the final quarter of 2021, Shell reported adjusted earnings of $6.4 billion. read more

FROM SHELL.COM WEBSITE

Our name changed from Royal Dutch Shell plc to Shell plc in January 2022. We are currently updating the content of this site to reflect that change.

Shell completes acquisition of energy retailer, Powershop Australia

Feb 1, 2022

Shell Energy Operations Pty Ltd, a wholly owned subsidiary of Shell plc (“Shell”) has completed the acquisition of Powershop Australia (“Powershop”), an online energy retailer serving more than 185,000 customers.

Powershop will operate as a wholly owned subsidiary of Shell under the Powershop brand within the Shell Energy business in Australia, which is part of Shell’s global Renewables and Energy Solutions business. read more