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Shell got £111m UK Treasury tax credit in 2016

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Shell paid more than $55.6billion (£43.7billion) to governments around the world in 2016, but got a sizeable rebate from the UK Treasury, the oil major revealed today.

The group, which is headquartered in London and the Netherlands, received a tax credit of £111million from the UK government last year primarily as a result of North Sea decommissioning costs.

About £90million worth of UK tax credits were linked to the Brent field and other northern North Sea projects.

Earlier this year, Shell submitted its plans for decommissioning Brent, a process expected to take about a decade.

In May, the Brent Delta topside was delivered to Able UK’s yard in Hartlepool for scrapping. read more

Royal Dutch Shell Takes a Big Step Forward in Its Post-BG Merger Plan This Quarter

 

Tyler Crowe: (TMFDirtyBird) May 5, 2017 at 10:33AM

The investment thesis for Royal Dutch Shell (NYSE:RDS-A) (NYSE:RDS-B)radically changed back in 2015, when the company acquired BG Group. The idea of combining these two companies held a lot of promise, but investors would only benefit if management could successfully integrate the company, divest itself of some lower-return businesses, and lower the debt load it took on to get the deal done.

It wasn’t an easy task, but Shell’s most recent couple of earnings reports suggest that management has pulled it off. Here’s a look at its latest earnings release and what management has done recently to get the company one step closer to realizing the potential of that investment thesis laid out a couple of years ago. read more

New Shell finance boss says North Sea remains important to oil and gas giant

MARK WILLIAMSON: 5 MAY 2017

ROYAL Dutch Shell’s new finance chief has said the company will continue to invest in the North Sea where it is making good returns but declined to rule out selling off more UK assets.

Speaking after Shell posted a 140 per cent increase in first quarter profits, Jessica Uhl said the North Sea remains important to the firm although rationalisation moves will leave it with a much reduced presence in the area.

The oil and gas giant agreed in January to sell a portfolio of mature assets which account for around half its UK production to Chrysaor for up to $3.8 billion. read more

Shell, BP results preview: Look past top line figures to find positive story, analyst says

Written by Mark Lammey – 30/01/2017 7:48 am

Investors monitoring the fourth quarter results of Shell and BP must look beyond the top line figures to get a good reading of the firms’ vital signs.

Iain Armstrong, divisional director at Brewin Dolphin, said the fourth quarter was notoriously hard to predict as oil and gas deliveries tended to be down.

Mr Armstrong said the two majors’ headline figures could be disappointing, unless strong demand from China gives them a boost.

He also said Shell should be in a position to sell more of its North Sea assets, thanks to improved oil prices and the BG Group acquisition showing signs of fruition. read more

Jessica Uhl, tainted by Enron, a huge risk IMHO


from an old EP hand:
 

Another american woman. I do not know her, she must be very clever. But Shell has not had a lot of luck with senior american women. Do I need to mention the Cook woman? Or the Boynton woman?

And as a total outsider, I must observe that this Uhl woman is a bit tainted. She worked for Enron in the top years of all the scandals and in a very senior position.

We now know that the people working in Enron in that period might be the cleverest in the business, but not the most ethical ones. And for a finance director only the highest ethical standards should apply. A huge risk IMHO. read more

Shell finance boss tipped to take over the top job cashed in stock worth £1m days before he suddenly quit

By Rachel Millard For The Daily Mail: 21:58, 15 December 2016 

A finance boss at Royal Dutch Shell who was tipped to take over the top job has suddenly left – just days after he sold stock worth £1million.

Credited with leading the firm’s £41billion takeover of oil and gas group BG last year, Simon Henry was a key lieutenant of chief executive Ben van Beurden.

But the 55-year-old’s departure was announced yesterday to the shock of the markets. Relatively unknown internal finance executive Jessica Uhl has been appointed in his place.

It emerged Henry sold more than £1million of shares on December 1, within 24 hours of the historic Opec deal to cut production that then sent the price of oil soaring. read more

Shell’s CFO Pick Leaves Most Analysts Asking Simply ‘Who?’

by Rakteem Katakey: 15 December 2016, 16:47 GMT

Royal Dutch Shell Plc’s appointment of Jessica Uhl as finance chief on Thursday posed one simple question for many of the analysts who follow Europe’s largest oil company: “Who?”

The 48-year-old U.S. citizen, currently head of finance for Shell’s Integrated Gas unit — a key cash cow since this year’s acquisition of BG Group Plc — will take over from Simon Henry in March. Having been at the oil major for 12 years, exclusively in finance, she has “in-depth knowledge” to execute its cash-generation plans, according to Shell. read more

Shell finance chief to leave company in March

By Karolin Schaps | LONDON

Royal Dutch Shell (RDSa.L) Chief Financial Officer Simon Henry will step down in March after seven years in the post and be replaced by Jessica Uhl, a finance executive in Shell’s gas business.

Henry, a 55-year-old Shell veteran, was one of the executives who oversaw the $54 billion (43.27 billion pound) acquisition of BG Group, which completed in February, and the integration of the gas company which turned Shell into the world’s largest liquefied natural gas (LNG) trader. read more

Shell picks American former Enron exec for CFO

Royal Dutch Shell executive Jessica Uhl has been elevated to chief financial officer for global operations.

Uhl, the current executive vice president of finance for integrated gas, begins her new post in March and will continue to work at The Hague.  She will replace CFO Simon Henry, who will assist with the transition through June.

Before joining Shell in 2004, Uhl was a director of project development and later a vice president of corporate development for Enron in Houston and Panama.

Uhl also will serve as an executive director of Shell and sit on the executive committee. Shell CEO Ben van Beurden praised Uhl’s promotion. read more

Shell finance chief Simon Henry to leave after 30 years with the oil major

Caitlin Morrison deputy digital editor at City A.M: Thursday 15 December 2016 8:47am

Royal Dutch Shell announced today that finance chief Simon Henry will step down in March 2017, to be replaced by Jessica Uhl.

Henry – who was appointed to the Lloyds Bank board in 2014 – has been with Shell for over 30 years, and has been chief financial officer for seven.

“I have been privileged to spend the past 34 years working with great colleagues, in a great company,” said Henry.

“Together we have made a difference in an industry that really matters to so many people around the world. I wish Jessica every success in the role, and am confident that she and Shell will deliver a world class investment, in the most responsible and sustainable way.” read more

Shell to replace CFO Simon Henry in March

Royal Dutch Shell (RDSa.L) will replace Simon Henry as chief financial officer on March 9, 2017 with Jessica Uhl, a financial executive in Shell’s gas business, the company said on Thursday.

Henry will remain available to the company until June 30, 2017, Shell said. It gave no reason for his departure.

“Jessica combines an external perspective with broad Shell experience and is a highly regarded executive,” Shell Chief Executive Ben van Beurden said.

Uhl joined Shell in 2004 and was previously employed at Enron and Citibank in the U.S. and Panama. read more

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