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PURE GREED: How fatcat energy bosses will bank a staggering £15 MILLION as terrified hard-up Brits choose heating or eating

The Sun

PURE GREED: How fatcat energy bosses will bank a staggering £15 MILLION as terrified hard-up Brits choose heating or eating

IT is High Noon for the energy fatcats today as they drag their expensively-dressed behinds into showdown talks with the Chancellor.

As The Sun revealed yesterday, Nadhim Zahawi has summoned gas and electricity bosses in to explain just how much cash they are making out of the energy crisis.

It comes as energy experts at Auxilione revealed energy bills could reach over £5,000 next year and Martin Lewis warned the crisis could put lives at risk.

Zahawi and Business Secretary Kwasi Kwarteng wil also demand to know what investment they plan to make with their soaring profits. 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 staff land bonus windfall equating to 8% of their salary as profits surge to £9.5bn

This is MONEY.co.uk

Shell staff land bonus windfall equating to 8% of their salary as profits surge to £9.5bn

  • The oil giant has awarded most of its 82,000 staff a bonus equal to 8 per cent of their annual salary 

  • 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

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

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 to give staff 8% bonus after record profits

The Guardian

Shell to give staff 8% bonus after record profits

Julia Kollewe: Wed 3 Aug 2022 16.50 BST

Payout comes after oil firm reported $11.5bn second-quarter profits amid soaring energy prices

Shell is handing nearly all its 82,000 staff a bonus equivalent to 8% of their salary after the oil company reported record profits amid soaring energy prices.

The British multinational is making the one-off payment to the vast majority of its employees around the world, only excluding those on its executive committee, executive vice-presidents and contractors.

The oil firm said: “In recognition of the contribution our people have made to Shell’s strong operational performance against a recent challenging backdrop, our executive committee has decided to make a special recognition award of 8% of salary to all eligible staff across the world. 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 staff get profits bonus as energy bills soar

BBC NEWS

Shell staff get profits bonus as energy bills soar

4 August 2022

Energy giant Shell is to give its workers a one-off 8% bonus after the company reported record profits from high oil and gas prices.

Most of the 82,000 staff it employs worldwide will get the pay boost but top executives will be excluded.

Shell said the award reflected its financial success and was “not a response” to the rising cost of living.

Energy firms’ bumper profits have prompted calls for tougher taxes to help families with rising 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 dishes out bonuses after huge profits while energy crisis hits Britons’ pockets

EXPRESS

Shell dishes out bonuses after huge profits while energy crisis hits Britons’ pockets

SHELL is passing on some of its record profits to its staff in a one-off bonus, but claimed it was “not a response” to cost of living crisis spurred on by high energy prices.

UN Secretary General Antonio Guterres said that it was “immoral” for oil and gas firms to profit from the invasion of Ukraine, adding that the “grotesque greed is punishing the poorest”.

By ALEKS PHILLIPS

Most of the energy giant’s 82,000 staff worldwide will get an 8 percent boost, after the company doubled its profits in the past three months alone to £9.4billion. Fossil fuel companies have been accused of profiteering from a crisis.

It comes as energy bills are expected to soar to well over £3,000 this winter, with the increase in energy costs being seen as the “main driver” of inflation.

Shell said top executives will be excluded. Its CEO, Ben van Beurden, currently makes an estimated £6.2million.

In the first three months of the year, Shell made $9.1billion (£7.4billion) as the commodity price shot up amid Russia’s invasion of Ukraine. 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.

Amid Climate Crisis, Shell’s Financial Windfall Is Profiteering At Its Most Grotesque

Common Dreams

Amid Climate Crisis, Shell’s Financial Windfall Is Profiteering At Its Most Grotesque

We may be in the dying days of the fossil fuel empire, but those companies are enriching themselves like never before, as people die from our climate crisis.

ANDY ROWELL: July 31, 2022

Oil giant Shell has just posted record profits for a second consecutive quarter, smashing its previous record from earlier this year.

Shell posted adjusted earnings of a staggering USD 11.5 billion for the second quarter of this year, beating the USD 9.1 billion from the first three months of 2022.

Europe’s largest oil group was boosted by the sky-rocketing energy prices caused by the Ukraine war.

This means in the first six months of this year the oil giant has earnings of over USD 20 billion. This is profiteering at its most greedy and grotesque. 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 Sees Risk of Even Higher Oil Prices

Shell CEO Sees Risk of Even Higher Oil Prices

Oil prices are more likely to rise than fall as the tightness in supply outweighs any risks to demand, said the boss of Shell Plc. 

“Where we are today, there is more upside than downside when it comes to the oil price,” Shell Chief Executive Officer Ben van Beurden said in an interview with Bloomberg TV on Thursday. “Demand hasn’t fully recovered yet and supply is definitely tight.”

The Shell CEO spoke after the company reported record-breaking profits for a second consecutive quarter due to high oil and gas prices. Even with Brent crude remaining above $100 a barrel there’s little sign of demand destruction, and consumption continues to recover from the pandemic, van Beurden said.

“I’m quite optimistic, both on the energy system as well as the global economy,” he said.

There’s limited scope for extra oil supplies from the Organization of Petroleum Exporting Countries or US shale producers, and the full effect of sanctions on Russia’s production may not yet have been felt, Van Beurden said. 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 vows a return for investors from its ‘obscene’ profits

THE TIMES

Shell vows a return for investors from its ‘obscene’ profits

Emily Gosden: Energy Editor:

Shell’s profits more than doubled to a high of $11.5 billion in the second quarter as it benefited from surging oil, gas and fuel prices after Russia’s invasion of Ukraine.

The FTSE 100 oil company said it would increase returns to investors by buying back $6 billion of shares over the coming three months.

Shell faced a backlash for what critics called “obscene” profits, which come after petrol prices hit record highs and as households face a crippling rise in energy bills that is forecast to push millions of people into poverty this winter.

Ben van Beurden, the chief executive, admitted it was “a difficult period for a lot of people” because of high energy prices, but said: “These are global phenomena, there’s… 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.

Energy giants Shell and Centrica enjoy soaring profits as prices rise

skynews

Energy giants Shell and Centrica enjoy soaring profits as prices rise

Shell attributed its enormous numbers to higher prices, refining profits, and gas trading.

Shell has reported record profits of $11.5bn (£9.4bn) for the second quarter, more than double last year’s figure of $5.5bn (£4.5bn).

The oil giant had already smashed its own quarterly record at the start of the year when it clocked up profits of $9.1bn (£7.2bn), but the sums continued to rise into Q2. 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 boss van Beurden: ‘Supply needs to adjust but to less demand’

FINANCIAL TIMES

Shell boss van Beurden: ‘Supply needs to adjust but to less demand’

For the first time in almost a decade running Europe’s biggest oil and gas company, Shell chief executive Ben van Beurden reckons he is being listened to.

The commodity shock sparked by the war in Ukraine has sent European officials scrambling to better understand the global energy system and secure new sources of supply. Some of them have ended up at Shell’s door.

“On energy security matters, energy balances, investment levels, I’ve never had as good a set of discussions with governments as we are having today,” van Beurden told the Financial Times. 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.

Vladimir Putin has ‘weaponized’ energy and Europe may be forced to ration supplies this winter, warns Shell CEO

Vladimir Putin has ‘weaponized’ energy and Europe may be forced to ration supplies this winter, warns Shell CEO

  • Europe may have to ration energy to cope with declining Russian supply this winter, says Shell CEO.

  • Ben van Beurden predicted “significantly” higher natural gas prices if Putin cuts flows further.

  • Emmanuel Macron has asked French citizens to reduce their energy usage to avoid a difficult winter.

Europe may have to ration energy to cope with declining Russian supply this winter, the chief executive of Shell has warned.

Ben Van Beurden was speaking at an energy conference in Oxford when he made the comments that were reported by The Financial Times.

The Shell boss predicted “significantly” higher gas prices if Vladimir Putin continues to slow supplies to Europe and said that he couldn’t rule out Russia cutting off supplies entirely.

Putin had shown he was “able and willing to weaponize energy supplies,” Van Beurden said. 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.

Energy crisis HELL: Shell CEO issues dire warning as Europe facing ‘really tough’ winter

Express

Energy crisis HELL: Shell CEO issues dire warning as Europe facing ‘really tough’ winter

RUSSIA’S threat to cut off energy supplies to Europe will lead to a winter of hell for the continent and the UK, as Shell warns of possible energy rationing.

By ANTONY ASHKENAZ

Speaking at the Aurora Spring Conference in Oxford, Shell CEO Ben van Beurden said: “It will be a really tough winter in Europe.

“Some countries will fare better than others but we will all be facing a very significant escalation in energy prices.”

He added that in a worst-case scenario, Europe would have to resort to rationing its energy to prevent blackouts.

Some countries have already warned that in a worst-case scenario, an extreme shortage would force a shut down of industry as the power is prioritised to heat homes in the winter. 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.

Energy rationing cannot be ruled out, warns Shell

BBC News

Energy rationing cannot be ruled out, warns Shell

Rationing of energy in Europe cannot be ruled out, the boss of energy giant Shell has warned, due to worries over the supply of gas from Russia.

Speaking at an energy conference, Ben van Beurden said a “really tough winter in Europe” was ahead, with energy prices set to see “significant” rises.

Energy prices jumped earlier this year after Russia invaded Ukraine.

Russia has also been accused of using gas “as a weapon” by limiting supplies in response to EU sanctions. 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.

Exclusive-Shell Wants to Share More of Its Blockbuster Profits, CEO Says

REUTERS

Exclusive-Shell Wants to Share More of Its Blockbuster Profits, CEO Says

By Ron Bousso

OXFORD, England (Reuters) – Shell is considering boosting shareholder returns on the back of bumper profits from soaring energy prices, while the extra cash will also help it shift more swiftly towards renewables and low-carbon energy, the chief executive said on Thursday.

Europe’s largest oil and gas company, as well as rivals including BP, have seen profits surge this year following two years of declining revenues due to the pandemic. 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.

Europe could face energy rationing as ‘really tough winter’ looms, Shell boss warns

The Guardian

Europe could face energy rationing as ‘really tough winter’ looms, Shell boss warns

Mark Sweney and Alex Lawson: Thu 14 Jul 2022 13.04 BST

European consumers could face the prospect of energy rationing this winter as costs continue to soar amid the risk of Russia cutting off gas supplies, Shell’s chief executive has said.

“It will be a really tough winter in Europe,” said Ben van Beurden… “We will all face very significant escalation in energy prices. In the worst case, Europe will need to ration its energy consumption.” 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 takes to TikTok as oil groups try to boost credentials during energy crisis

FT: Shell takes to TikTok as oil groups try to boost credentials during energy crisis

Shell is recruiting a manager for its TikTok channel to influence a generation that uses the social media platform known for short videos, as oil and gas companies pump money into advertising campaigns to improve their public image during the energy crisis.

The social media push comes as US and British companies take advantage of supply shortages due to Russia’s invasion of Ukraine and attempt to persuade the public their products are a matter of national security. 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.