THE HERALD

Shell chief to receive compensation for loss of office

28 Oct 2022

THE outgoing chief executive of oil and gas giant Shell is to receive a year’s salary by way of compensation for loss of office.

Ben van Beurden will receive £1.42 million when he steps down at the end of this year, which is to be paid in six instalments. Shell said outstanding payments will be reduced by 50 per cent if he secures a paid position, excluding non-executive directorships, in that time.

The company also said that Mr van Beurden will continue to receive his base salary until the end June next year. The London-listed Anglo-Dutch energy giant said that a pro-rated annual bonus in relation to performance year 2023 will be determined by Shell’s remuneration committee after June next year.

Shell said the 2021 and 2022 long term incentive awards will be reduced to reflect the portion of the performance period that has elapsed to June next year. read more

EXPRESS

Shell faces energy fury as £31bn bumper profits could pay for 2.1m heat pumps for Britons

In just the third quarter of the year, UK-based energy giant Shell raked in profits of £8.2billion.

By ANTONY ASHKENAZ: 22:10, Thu, Oct 27, 2022 | UPDATED: 22:16, Thu, Oct 27, 2022

New analysis has found that over the past twelve months, energy giant Shell has generated a staggering £31billion in excess profits. This has prompted fury among critics, as millions of Britons face unprecedented energy bill hikes, crippling inflation and a major cost of living crisis. Today, Shell has announced profits of £8.2billion for the third quarter of this year. The business said it made adjusted earnings of $9.5billion US dollars over the three months down from $11.5billion (£9.9billion) the quarter before. According to Global Witness, which conducted the analysis, this profit earned by the energy giant was in addition to the profits that they would make in a normal year. read more

Biden says Shell is misusing its profits by not cutting gas prices

Thu, October 27, 2022 at 10:01 PM

SYRACUSE, N.Y. (Reuters) – U.S. President Joe Biden blasted Shell plc on Thursday for funneling profits to shareholders rather than lowering gas prices, after the British oil giant said it would boost its dividend and buy back shares.

Shell earlier on Thursday said its third-quarter profit was a near-record $9.45 billion, as it sharply boosted its dividend by 15% and announced plans to buy $4 billion more of stock over the next three months. read more

Evening Standard

Shell yet to pay any extra windfall tax, bosses confirm

By August Graham: 27 Oct 2022

Oil giant Shell has avoided paying any extra windfall tax despite making record profits so far this year as the business said it was investing heavily in the North Sea.

The company said that it does not expect to pay any extra tax this year due to the Government’s decision in May to put a windfall tax on North Sea oil and gas producers.

Finance boss Sinead Gorman told reporters on Thursday that the company had done enough over recent months to avoid the tax – which allowed companies to get tax relief in exchange for investment.

“Heavy capex (capital expenditure) has meant that we haven’t had extra tax coming through in this quarter yet,” she said.

“I do expect to see that extra tax … to happen quite early in the first quarter of 2023, but we’ll see what plays out with prices as well.” read more

27 Oct 2022

The content below is sourced from current verifiable customer reviews of Shell Energy published on Trustpilot.

Installation engineer didn’t install internet

Installation engineer turned up, didn’t connect my Internet then left.  Only for me to find out, absolutely nothing had been done to set my Internet up. I had to call and try and find out what was going on, only to be left on hold for 25 minutes after talking to a team member then hung up on. Followed by an email saying I will need to reschedule. Thats definitely not ho you apologise! I won’t be giving you any money if your customer service is this atrocious for new customers, I’d hate to think what it would be like if I had any issues!
0/10, couldn’t even set my Internet up. No customer support, poor engineers and absolutely zero communication. read more

AVOID SHELL ENERGY BROADBAND LIKE THE PLAGUE

Shell Energy Broadband Reviews recently posted on broadband.co.uk

27 Oct 2022

Reviewer Stephen Essex: Location Essex: Date 2022-09-30

Comments

The most appalling customer service. If nothing goes wrong with your bills then they are fine. But if you need to get something corrected (their errors) it is incredibly bad. Slow to answer, calls get cut off, promises made are not kept. I have spent HOURS on the phone trying to get their errors corrected. AVOID LIKE THE PLAGUE read more

Shell announces commencement of a share buyback programme

Shell plc: Thu, October 27, 2022 at 7:03 AM

Shell plc (the ‘company’) today announces the commencement of a $4 billion share buyback programme covering an aggregate contract term of approximately three months (the ‘programme’). The purpose of the programme is to reduce the issued share capital of the company. All shares repurchased as part of the programme will be cancelled. It is intended that, subject to market conditions, the programme will be completed prior to the company’s Q4 results announcement, scheduled for February 2, 2023.

The company has entered into an arrangement with a single broker consisting of three irrevocable, non-discretionary contracts, to enable the purchase of ordinary shares on both London market exchanges (the London Stock Exchange and/or on BATS and/or on Chi-X) (pursuant to two ‘London contracts’) and Netherlands exchanges (Euronext Amsterdam and/or on CBOE Europe DXE and/or on Turquoise Europe) (pursuant to one ‘Netherlands contract’) for a period up to and including January 27, 2023. The aggregate maximum consideration for the purchase of ordinary shares under the London contracts is $2 billion and the maximum consideration for the purchase of ordinary shares under the Netherlands contract is $2 billion. Purchases under the London contracts will be carried out in accordance with the company’s authority¹ to repurchase shares on-market and will be effected within certain contractually agreed parameters. Purchases under the Netherlands contract will be carried out in accordance with the company’s authority¹ to repurchase shares off-market pursuant to the off-market share buyback contract approved by its shareholders and the parameters set out therein. read more

global witness

Energy giant Shell has already made £31bn in excess profits over past year

Analysis of Shell Q3 profits shows their 12 month windfall profits could pay for 12.5 million UK energy bills

27th October 2022, London – UK-based fossil fuel giant Shell has made £31 billion in excess profits over the past twelve months, while Brits have seen energy bill hikes drive an acute cost of living crisis, according to Global Witness analysis of the company’s third quarter profits reported today.

This is money Shell has made in addition to their “normal,” but already high, profits, and was spurred by high global energy prices. See notes for full methodology. It could pay for:

• The energy bills of 12.5 million British households, or

• Almost half of the £68 billion the government needs to help its citizens with high energy bills, or

• Heat pumps for 2.1 million UK homes, that would protect families from energy price volatility, or

• The energy bills of everyone on universal credit; plus emergency aid for all 19 million Yemeni’s caught in one of the world’s worst humanitarian disasters; plus emergency shelter for all of the victims of Pakistan’s climate crisis caused floods – and still leave £17.1 billion in excess profits for Shell’s shareholders. (2)

These extraordinary windfalls come as Shell announced overall adjusted earnings of $9.5 billion this quarter, a slight drop from its record last quarter, but much higher than the company has averaged in recent years. This at a time when the UK government debates how best to support its citizens through a cost-of-living crisis that could see 3 million more British people – and 30 percentage of all UK children (3) – living in poverty from next year. read more

The chief executive of Shell had himself called on the government to tax oil and gas companies in order to protect the poorest people in society from soaring energy costs.

skynews

Energy company Shell reports profits of $9.5bn for Q3 of 2022 but not at record levels seen in first half of year

The London-listed oil and gas company had reported record profits in the first half of the year amid soaring oil and gas prices.

By Sarah Taaffe-Maguire, business reporter

Thursday 27 October 2022 09:12, UK

Shell has reported operating profits of $9.5bn (£8.19bn) for the third quarter of this year, lower than that of the three months before but still more than double the same period in 2021. read more

Shell Energy Broadband Reviews recently posted on broadband.co.uk

Reviewer Jules: Location Hertfordshire: Date 2022-09-28

Comments

I was a customer of Post Office Homephone and never had an issue with them. Sadly they sold out to Shell and since then things have been difficult! I can’t access my bill using my old account details as I was promised so I can no longer separate personal emails from ‘business’ emails and just recently they put the prices up despite me signing up to a fixed tarrif with Post Office literally a few days before the company transferred me across to Shell. read more

Detailed Energy Broadband Reviews recently posted on broadband.co.uk

Reviewer Estel: Location London: Date 2022-09-27:

Comments

Terrible customer service, the likelihood of speaking to someone in less than an hour is close to zero, not to mention if you do manage to reach through to someone they might hang up on you imediately – extremely frustrating! My broadband has been unreliable and slow since the start of my contract and had to have multiple engineer visits. You have tried charging me for the latest one whereas a fault has indeed been found on the line. Your company is simply trying to steal money from honest people and this is absolutely appalling… One advice – never sign up with Shell Energy, run! read more

This is MONEY.co.uk.

Shell set to plough £1.3bn in Qatari natural gas project as it looks to bolster energy security and transition to net zero

By CITY & FINANCE REPORTER FOR THE DAILY MAIL: PUBLISHED: 21:31, 24 October 2022 | UPDATED: 21:31, 24 October 2022

Shell is ploughing £1.3bn into a Qatari gas project in a huge boost to supplies. The oil giant will take a 9.4pc stake in North Field South, which will expand Qatar’s liquified natural gas output by 16m tons a year.

Qatar is trying to consolidate its position as the world’s biggest natural gas exporter by ramping up capacity from 77m tons per year to 126m tons per year by 2027.

There has been a surge in demand for natural gas, which is seen as a key pillar of the world’s transition to net zero CO2 emissions. Shell boss Ben Van Beurden said its investment in the gas field, run by stateowned QatarEnergy, will help bolster energy security and the transition to net zero. read more

Malabu Oil Scandal: International Organisations File Appeal At The Hague, Demand Fresh Probe Of Shell Company, Managers

October 24, 2022

Three non-governmental organisations, Re:Common (Italy), HEDA Resource Centre (Nigeria) and Corner House (UK) on Monday announced that they had filed a complaint at the Court of Appeal in The Hague challenging the decision by the Dutch Prosecutors Office to drop its investigation of Shell and Shell management relating to alleged corruption in Nigeria.

The Complaint was filed by the Dutch law firm Prakken pursuant to Article 12 of the Dutch Code for Criminal Procedure.

Article 12 permits interested parties to challenge prosecutorial decisions not to investigate or prosecute an alleged crime.

In 2017, the three NGOs sought an investigation by the Dutch Prosecutors Office into Shell’s involvement in the 2011 acquisition of the exploitation rights to the Nigerian oil block OPL245. They have since submitted further concerns relating to Shell’s divestments of oil mining licences in the Niger Delta.

Separately, Shell also reported a senior manager to the Dutch Prosecutors Office for bribery relating to one of the oil field divestments. read more

CITYA.M.

Shell could start profit slowdown as Labour pushes to expand windfall tax

NICHOLAS EARL: MONDAY 24 OCTOBER 2022 4:13 PM

The historic profit run from oil and gas titans is expected to slow down this week, when Shell unveils its latest results.

Producers are grappling with both inflation and suppressed demand amid growing expectations of a global recession.

Shell has warned ahead of its third quarter update this week that earnings will likely be dented by a sharp hike in refining costs and weaker natural gas trading.

In an update earlier this month, it revealed indicative refining margins dropped to $15 a barrel compared with $28 a barrel in the previous three months of trading.

The energy giant will update investors on its performance this Thursday, the first in a wave of results from oil and gas giants over the coming days.

Rivals BP, Chevron, Exxon Mobil, Equinor and Saudi Aramco will also announce their results over the coming days – offering markets a flurry of data on the latest conditions in the fossil fuel sector. read more

Detailed Energy Broadband Reviews recently posted on broadband.co.uk

At best I received intermittent service usually completely unusable wifi. My WiFi dropped out over 80 times in a 12 hour period. The only thing part of shell energy broadband that works correctly is the billing department.

Reviewer Margaret: Location Horwich Date 2022-09-27

Comments

Just Shocking service via phone I have been left on hold now for over 25 minutes all to ask a simple question to a technician so annoying ! Why the handler could not just have found out for me I don’t know he’s just left me on hold to them , the answer for my question question will be a simple yes or no, still waiting as I type this, just this minute answered my call and the was answer was yes an all okay grrrrr. read more

24 Oct 2022

The content below is sourced from current verifiable customer reviews of Shell Energy published on Trustpilot.

COMPANY WITH ZERO COMPASSION

I recently contacted shell energy about my mother in laws phone . we canceled her phone as she has gone into end of life care .they then send a threatening letter stating they want there router back .I respond to them stating my mother in law has never had broadband or a router . they ask for extra info gave them that then they say they cant discuss as we are not the account holder .which bit off she is in a hospice on end off life care dont they understand !!!!! nice to see a company with compassion not this company read more

22 Oct 2022

The content below is sourced from current verifiable customer reviews of Shell Energy published on Trustpilot.

Useless

Useless. I signed up for broadband but cancelled in the 14 day grace period because their customer service was so bad. Now they have referred me to their collection department and are hounding me for money, but will not send me any bills or evidence that I owe them money. Avoid them at all costs. There are awful to deal with on the phone too.

Date of experience: 22 October 2022 read more

Shell Loses Dutch Appeal Over Misleading Carbon Emission Ads

(Bloomberg) — Shell Plc lost its appeal against the Dutch advertising watchdog’s ruling that an ad campaign that promoted carbon-dioxide emission credits was misleading and must be withdrawn.

Bloomberg News: Diederik Baazil and Cagan Koc: 21 Oct 2022

(Bloomberg) — Shell’s advertisements offer customers the option to pay extra for their fuel, with the money going to buy credits in emission-reduction projects that “compensate” for the pollution generated. The ads are a reboot of a similar campaign last year that the regulator also deemed misleading. read more

20 Oct 2022

The content below is sourced from current verifiable customer reviews of Shell Energy published on Trustpilot.

Awful Broadband Experience

Shell Energy Broadband
They have the worst routers that I’ve encountered in many many years. They take weeks, literally weeks, to respond to requests for assistance. They keep sending your the same rubbish routers, even when you’ve already tried the same one and it didn’t work – they don’t read your history. Their phoneline opening hours are rubbish. Avoid. Avoid. Avoid. read more

DAILY MAIL

Ofcom reveals the UK’s most complained-about broadband providers – with Shell Energy topping the list

SHIVALI BEST FOR MAILONLINE read more

According to Ofcom, Shell Energy Broadband was the broadband provider that caused the most complaints, topping the table with 31 complaints per 100,000 customers – up from 22 complaints per 100,000 in the previous quarter when it was also the most-complained about provider across all of the sectors Ofcom monitors. Shell Energy Broadband customers’ complaints were usually due to issues with complaints handling.

Which?

Shell Energy Broadband named worst provider for customer service read more

Shell Energy generates most broadband and home phone complaints to Ofcom

Martyn Landi, PA Technology Correspondent

Tue, 18 October 2022 at 10:33 am

Shell Energy generated the most customer complaints about broadband and landlines between April and June this year, new figures from telecoms regulator Ofcom show.

For its broadband services, the firm generated 31 complaints per 100,000 customers during the period – almost three times higher than the industry average.

Shell Energy also averaged 23 complaints per 100,000 for its home phone services – four times the industry average – with the most common reason for complaint across both services being how the company handled customers’ complaints. read more