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
Shell changes senior UK leadership in global overhaul
Ron Bousso: Thu, 4 March 2021, 11:40 am·2-min read
LONDON (Reuters) – Royal Dutch Shell is changing the senior leadership of its operations in Britain as part of a global overhaul to cut costs and shift away from oil and gas to renewables and power.
Under the changes, which have been announced internally, country chair Sinead Lynch will become Shell’s global head of low-carbon fuels, a company spokeswoman said.
Lynch, who joined the Anglo-Dutch company in 2016 following its acquisition of BG Group, will be replaced by David Bunch who currently runs Shell’s retail business across Europe and South Africa. Bunch joined Shell in 1997.read more
Shell unveils green strategy after oil output peak
Energy giant Royal Dutch Shell declared Thursday that its oil output is locked in decline after peaking in 2019 as it outlined green plans to switch away from fossil fuels.
Shell said in a statement that it will invest up to $6.0 billion (4.9 billion euros) per year in green energy projects developing and promoting biofuels, electric car charging and renewables.
More than half the amount could end up being spent on marketing, Shell said.
In addition, Shell plans to still invest $8 billion annually on new oil and gas exploration.read more
Fact check: 9,000 Shell layoffs were announced prior to U.S. general election and Biden taking office
By Reuters Staff: FEBRUARY 9, 2021
Posts circulating on Facebook claim that oil and gas giant Royal Dutch Shell will cut 9,000 jobs because of the Biden administration. Linking the move to Biden is misleading: the company announced plans to cut up to 9,000 positions in Sept. 2020 as part of efforts to shift to low-carbon energy and “simplify the company’s structure”, and the locations of the layoffs were not specified by a spokesperson for Shell, which operates in over 70 countries.read more
Retirement Pot: Long Only, Deep Value, Growth, Foreign Companies: JAN 19, 2021
Summary
Shell’s dividend cut and unpredictability last year cost it a lot of shareholder confidence.
I outline three metrics I think show whether it’s investable again.
On all three metrics, I continue to see it as uninvestable with confidence.
U.K.-based oil major Shell (RDS.A, OTCPK:RYDAF) didn’t have a great time of it last year when it came to shareholder relations. With its mammoth dividend cut and poor signaling thereof before it was made, a lot of shareholders ditched the holding. I sold my entire stake and reinvested the proceeds in more Exxon Mobil (XOM).
Below, I outline what I think are the key challenges to Shell being investable at this point.read more
Shell will cut 250-300 jobs from its upstream operations in Malaysia over the next two years, or around 2pc of the current workforce, calling it a necessary change to ensure it is “in a strong position to capture opportunities in the energy transition”.
Shell announced in September plans to cut 7,000-9,000 jobs over the next two years as part of a structural reorganisation to shift towards a low-carbon future.read more
Oil giant Shell to axe 330 UK jobs due to covid restrictions – with thousands more to follow
The move forms part of 9,000 jobs set to be axed across the business over the next two years following a collapse in demand for oil due to the ongoing coronavirus pandemic
Shell to lay off nearly 700 workers in Louisiana after refinery closes
Paul TakahashiJan. 4, 2021 Updated: Jan. 4, 2021 8:46 a.m.
Royal Dutch Shell will lay off 698 workers as it closes its Convent refinery in Louisiana, part of a company effort to reduce carbon emissions.
The layoffs will begin in March and be completed by the end of August when the plant closes, according to information filed with the Louisiana workforce commission last month.
“The decision is part of the company’s global strategy to invest in a core set of uniquely integrated manufacturing sites that are also strategically positioned for the transition to a low-carbon future,” the Hague-based company said in November, when it began shutting down the refinery after failing to find a buyer for it.read more
Questor: profit warnings, dividend cut and share price fall – Shell has all a contrarian could want
Questor share tip: oil stocks have been laid low by the slump in crude prices – but such weakness sows the seeds of its own demise
ByRuss MouldEXTRACTSA trading alert released just before the Christmas break capped a torrid year for Royal Dutch Shell and left shareholders with a quandary.
After all, here we have a company that has issued profit warnings, seen the price of its core products collapse, cut its dividend for the first time in several decades and suffered a share price plunge. What is not to like, from the point of view of a dyed-in-the-wool contrarian? read more
Translation of an article published by the Dutch financial newspaper, the FD.
Shell Crown Prince: ‘We must show more predictable financial results’
Shell has had a bad year. The global corona pandemic left a huge hole in the financial results. The oil and gas multinational had to write off more than $20 billion on oil and gas fields and announced it would cut thousands of jobs.
Huibert Vigeveno is in charge of all Shell refineries and petrol stations. These will play a key role in the coming years, expects the 51-year-old Dutchman, tipped as a successor to Shell CEO Ben van Beurden. About CO₂ emissions: ‘There is often a gap between what a company promises and what it actually does. With us it is the other way around. ‘read more
Shell plans to begin layoffs for nearly 700 workers in March at its Convent oil refinery, which it expects to fully shut down in August.
The Louisiana subsidiary of Royal Dutch Shell, Equilon Enterprises LLC, previously had announced layoffs but has now filed an official notice with the Louisiana Workforce Commission outlining its plans.
Shell looks to lay off all 698 workers at the refinery, 340 of whom are represented by a union, according to the letter.read more
Shell plans to close the Group I base oil unit at its 500,000 b/d Pulau Bukom refinery in Singapore amid moves to scale back its fuel-based product slate at the plant.
The company said last month it planned to cut around 250,000 b/d of refining capacity in Singapore as part of its shift to lower-carbon alternatives.
It also plans to close the 380,000 t/yr base oil unit at the refinery from July 2022.
The shutdown would come just a year after the closure of Galp’s 110,000 b/d Porto refinery in Portugal next year. Galp announced that plan earlier this week. The refinery is home to a 185,000 t/yr Group I base oil unit.read more
Royal Dutch Shell (RDS.A, RDS.B) has been hit by the departure of several clean energy executives amid a split over how aggressively the oil giant should shift towards greener fuels, FT reports.
Those include Marc van Gerven, who headed the solar, storage and onshore wind businesses, Eric Bradley, who worked in Shell’s distributed energy division, and Katherine Dixon, a leader in its energy transition strategy team. Other top executives are due to leave the company, though not every move is known to be linked to the pace of change.
The wave of resignations come shortly before Shell is set to announce a strategy update in February, spelling out how it plans to become a net zero emissions business.
In August, rival BP (NYSE:BP) said it would shrink oil and gas output by 40% over the next decade, a move analysts predict will force Shell down a similar path.
POSTING ON OUR SHELL BLOG: 2020/12/06 at 10:26 pm (UPDATED WITH RESPONSE FROM “LONDONLAD”)
Escaped from C16Atraz
There are many parallels to be drawn between Shell and the one unbeatable Manchester United. Both are now mid table. Weak manager, senior players who are arrogant and only play for money, and have got rid of their most hard working players. Shell better get used to mediocrity. It doesn’t care at all about climate change but Van Beurden will no doubt continue to sell more of the crown jewels to greenwash its reputation like the loony who heads BP.read more
HOUSTON (Reuters) – Royal Dutch Shell Plc began the permanent shutdown of its 211,146 barrel-per-day (bpd) Convent, Louisiana refinery, the company said on Tuesday.
Sources familiar with plant operations told Reuters the permanent shutdown of the refinery, which Shell has been unable to sell as fuel demand has been hammered in the COVID-19 pandemic, began on Monday night.
“We’re engaged in a phased shutdown of Convent and (will) take all of the time necessary to safely accomplish that,” said Shell spokesman Curtis Smith in an email on Tuesday.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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