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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.

Climate-focused Dutch funds to take lead on Shell investor engagement

Reuters

Climate-focused Dutch funds to take lead on Shell investor engagement

By  and : MAY 19, 2022

LONDON, May 19 (Reuters) – Two climate-focused Dutch pension fund managers have been named to lead climate negotiations with Shell (SHEL.L) on behalf of a major group of investors that helped shape the energy company’s drive to cut greenhouse gas emissions.

MN and PGGM will officially take the role on behalf of the Climate Action 100+ (CA100+) investor group comprising $68 trillion in assets following Shell’s annual general meeting on May 24, MN said on Thursday. 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 suffers blow as investor group withholds approval for energy transition plan

CITYA.M.

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

: 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

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.

Windfall Tax on Oil Giants BP & Shell?

Mirror.co.uk

Oil giants’ profits for three months would be enough to give every household £450

Analysis by shadow Climate Change Secretary Ed Miliband shows that Shell and BP made combined profits of £12.37billion in the first quarter of 2022.

By Mikey Smith: Whitehall Correspondent: !4 May 2022

Profits made by oil giants in the first three months of this year were enough to give every household £450 towards soaring energy bills.

Analysis by shadow Climate Change Secretary Ed Miliband shows that Shell and BP made combined profits of £12.37billion in the first quarter of 2022. 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.

Windfall tax on Energy Giants Shell and BP?

The Telegraph

Energy bosses are provoking Sunak into another ruinous tax raid

BP chief executive may live to regret calling his company a ‘cash machine’: Shell unveiled a quadrupling of profits and a bumper payout for shareholders. Chief Ben van Beurden sounded cock-a-hoop. It had been “a momentous year”, he declared.

: CHIEF CITY COMMENTATOR:

You’ve got to hand it to the bosses of Britain’s energy giants. The response of the industry’s top figures to growing calls from the Labour Party, trade unions, and eco-activists for a windfall tax has been so risible that a Conservative Government is now said to be warming to the idea, having repeatedly ruled it out. 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 CEO points out loopholes in Russian oil sanctions after announcing record profits

Fortune

Shell CEO points out loopholes in Russian oil sanctions after announcing record profits

BY CHLOE TAYLOR: May 5, 2022 4:16 PM GMT+1

Planned embargoes on Russian oil may be thwarted due to the way the global crude supply chain works, Shell’s CEO explained on Thursday.

Speaking after Shell reported record quarterly profits, Ben van Beurden, the oil giant boss, told reporters that the framework of the world’s crude network left loopholes open in Western government bans on Russian oil.

This is because imported fuels like gasoline, which might have been made from Russian oil but refined outside of Russia, cannot always be traced back to their natural source. 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.

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

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

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 goes tax free in the North Sea after £100m government refund

CITYA.M.

Shell goes tax free in the North Sea after £100m government refund

: WEDNESDAY 06 APRIL 2022

Energy giant Shell paid no tax on its North Sea oil and gas production last year even as the global energy crunch saw it profits soar to more than $19bn.

The London-headquartered firm bagged tax refunds relating to the decommissioning of old oil platforms in the North Sea, meaning it received $131.8m from the UK treasury in 2021, according to details of its payments to government released yesterday. 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 Will Have Difficulty Paying for Russian Gas Due to U.K. Sanctions

Bloomberg

Shell Will Have Difficulty Paying for Russian Gas Due to U.K. Sanctions

  • Shell is prevented from dealing with Gazprombank by U.K. law
  • Gazprom is looking at ways to solve Shell’s payment issue

Shell Plc may have difficulty paying for Russian gas supplies this month because the Kremlin wants payments transfered through U.K.-sanctioned Gazprombank JSC, according to two people familiar with discussions in Russia.

Gazprom PJSC, the single largest provider of natural gas to the European continent, now only accepts ruble payments for supplies of the fuel to so-called ‘unfriendly’ states, including the European Union and the U.K. Shell has at least two long-term contracts that would be affected by this rule, jointly equivalent to about 1.5% of Gazprom’s annual exports to key foreign clients. 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 reconsidering decision to pull out of Cambo oilfield – report

Evening Standard

Shell reconsidering decision to pull out of Cambo oilfield – report

Work on the proposed development off the west coast of Shetland stopped in December.

By PA Reporter: 22 March 2022

Energy company Shell is reportedly reconsidering its decision to pull out of the controversial Cambo oilfield.

Work on the proposed development off the west coast of Shetland was paused in December after Shell decided to withdraw from the project, concluding the economic case for investment was “not strong enough”. 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.

Huge profits at BP and Shell revive calls for windfall tax to tackle fuel poverty

CNN

Huge profits at BP and Shell revive calls for windfall tax to tackle fuel poverty

London (CNN Business) – News that Britain’s biggest oil companies made $32 billion in profit last year is stoking calls for the UK government to impose a temporary tax on their earnings to help households pay soaring energy bills.

Reporting earnings on Tuesday, BP (BP) posted an annual profit of almost $12.9 billion. Shell (RDSA) reported a profit of $19.3 billion last week after what it described as a “momentous” year. Profits at both companies have been boosted by a huge rebound in oil and natural gas prices after they collapsed at the start of the pandemic. The bumper earnings have allowed them to accelerate investments in lower carbon and renewable energy projects while also handing billions of dollars to investors in the form of dividends and share buybacks. Between them, BP and Shell spent $7.7 billion buying back shares last year, and the windfall for investors looks set to continue. BP said it expected to be able to deliver share buybacks of $4 billion per year, while Shell announced plans to hand back $8.5 billion to shareholders in the first half of 2022, including proceeds from last year’s sale of its assets in the Permian Basin in the United States. The huge profits coincide with the announcement that energy bills for most UK households will rise by 54% in April, fueling a cost-of-living crisis that the Bank of England has forecast will mean the biggest drop in disposable incomes in decades. FULL ARTICLE
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.

£40bn profits for BP and Shell fuel calls for windfall tax on energy firms

The Observer/Guardian Online

£40bn profits for BP and Shell fuel calls for windfall tax on energy firms

‘Obscene’ amounts of surplus cash should be used to ease cost of living crisis, MPs told

Phillip Inman: Sat 5 Feb 2022 17.05 GMT

Oil giants BP and Shell are on course to make a combined profit of almost £40bn this year from the rocketing price of petrol and gas, fuelling calls for a windfall tax on energy firms to ease the cost of living crisis.

Before BP’s annual results this week, anti-poverty campaigners described the profits of oil producers as “obscene” and demanded the government take action to tax their surplus cash to support poorer families hit by rising energy bills. 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 defends raising the dividend after profits surge to almost $20bn

The Telegraph

Shell defends raising the dividend after profits surge to almost $20bn

Bumper results trigger renewed calls for a windfall tax on oil and gas producers

By Rachel Millard: 3 February 2022 • 7:41pm

The chief executive of Shell has defended his company’s right to pay millions in dividends after a fourfold rise in profits driven by surging energy costs sparked calls for a windfall tax.

Ben van Beurden said the FTSE 100 company played an important role in society by contributing to pension pots after it posted a $19.3bn (£14.2bn) profit for 2021, up from $4.8bn a year earlier. 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 Shell reports sharp upswing in full-year profit, raises dividend and buybacks

CNBC

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

Sam Meredith@SMEREDITH19: PUBLISHED THU, FEB 3 20222:08 AM  KEY POINTS
  • 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

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 Shell returns $5.5bn to shareholders as profits rise after it cashes in on rising gas prices

This is Money

Oil giant Shell returns $5.5bn to shareholders as profits rise after it cashes in on rising gas prices

  • Profits at its gas trading division to be ‘significantly higher’ in the last quarter 
  • It will return remaining $5.5bn proceeds from the sale of its US shale business 
  • Shell due to report its results on 3 February, days before Ofgem announcement 

Royal Dutch Shell expects profits at its gas trading division to be ‘significantly higher’ in the last quarter of 2021 as it cashes in on rising prices.

The oil giant also said it would go ahead with its plan to return $5.5billion to shareholders through share buybacks after the sale of its US shale business. 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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