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Ben van Beurden on The Sunday Times Business Person of the Year 2022 Shortlist

The Sunday Times Business Person of the Year 2022: The shortlist

The Sunday Times

In a year buffeted by war, falling markets and government upheaval, we present the shortlist for the business person who has stood out above the rest

Ben van Beurden, Shell

The Dutchman will call time on a 40-year career at Shell in 2023, having spent nine years in the hot seat. He gambled early in his tenure on the £36 billion takeover of gas giant BG Group, relocated Shell’s head office to London, and cut its dividend when the oil price tanked during Covid. But the company has surged this year on the back of higher oil prices stoked by the Ukraine war. Van Beurden, 64, leaves Shell in a fitter state and with plans to embrace green energy — read more

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Royal Dutch Shell to weigh vaccine mandate, firing staff on resistance

Seeking Alpha

Royal Dutch Shell to weigh vaccine mandate, firing staff on resistance

Sep. 09, 2021 11:22 AM ET Royal Dutch Shell plc (RDS.A)Royal Dutch Shell plc (RDS.B)By: Niloofer ShaikhSA News Editor 30 Comments

  • Royal Dutch Shell (RDS.A +0.2%) is considering whether to make it mandatory for workers in some operations to get COVID-19 vaccinations or fire them on refusal – Reuters.
  • The energy company, employing some 86,000 workers in more than 70 countries, will weigh the pros and cons of the policy at an executive committee meeting today.
  • The company is also actively exploring the introduction of the policy for offshore workers in the Gulf of Mexico.
  • The company has already adopted a “soft enforcement” vaccination policy in the Gulf of Mexico and in the onshore Permian shale basin operations under which employees and contractors must produce a negative COVID-19 test or proof of vaccination to access Shell sites.
  • read more

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    Shell raises dividend for second time in six months after first-quarter earnings beat forecasts

    Shell raises dividend for second time in six months after first-quarter earnings beat forecasts

    Sam Meredith: PUBLISHED THU, APR 29 20212:09 AM EDT

    KEY POINTS
    • The Anglo-Dutch company reported adjusted earnings of $3.2 billion for the three months through to the end of March. Analysts had expected $3.1 billion, according to Refinitiv.
    • Shell also raised its dividend by around 4%, its second increase in six months.
    • It comes as energy majors seek to reassure investors that they have gained a more stable footing in recent months.

    LONDON — Oil giant Royal Dutch Shell on Thursday reported slightly better-than-expected first-quarter earnings, amid stronger commodity prices and growing expectations of a fuel demand recovery.

    Shell also raised its dividend by around 4%, its second increase in six months, as the oil major seeks to reassure investors it has gained a more stable footing. It comes after Shell slashed its payout for the first time since World War II in April last year. read more

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    North Sea oil and gas minnow wins vote of confidence from Shell

    North Sea oil and gas minnow wins vote of confidence from Shell

    By Mark Williamson 

    Group Business Correspondent

    NORTH Sea oil and gas minnow Deltic Energy has seen its shares rise around eight per cent after the company won a fresh vote of confidence from the mighty Royal Dutch Shell.

    Shell has decided to go ahead with a plan to drill a well with Deltic, on a prospect that has generated lots of excitement.

    The companies have confirmed to the North Sea regulator that they have made a firm commitment to drill a well on the Pensacola prospect, which is set for next year. read more

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    Shell says green power shift will lift need for Australia’s LNG

    Shell says green power shift will lift need for Australia’s LNG

    By Nick Toscano

    The Australian boss of global energy giant Shell sees demand for liquefied natural gas exports continuing to grow until at least the late 2030s even as COVID-19 hastens the shift away from planet-warming fossil fuels.

    Shell, which believes its oil output may have hit a peak in 2019 and is now likely to gradually decline, has revealed a brighter outlook for its liquefied natural gas (LNG) assets including those in Queensland and off Western Australia. read more

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    Shell sees 70%-complete Pennsylvania petchem project operational in 2022

    Shell sees 70%-complete Pennsylvania petchem project operational in 2022

    Mar. 12, 2021, 4:31 PM ETRoyal Dutch Shell plc (RDS.A) By Carl SurranSA News Editor 8 Comments

  • Royal Dutch Shell (RDS.ARDS.B) says its $6B petrochemical complex in northwest Pennsylvania is now more than 70% complete and projected to be operational sometime in 2022.
  • Shell previously projected the startup in this year’s H1 after suspending work in March 2020 due to pandemic concerns.
  • The project is one of the largest construction sites in North America and includes a 1.6M mt/year cracker and three polyethylene plants with a combined capacity of 1.6M mt/year.
  • Portions of the site’s water treatment facility are being commissioned and the site’s 250 MW power plant will soon follow, the company says.
  • Shell has “hit peak oil, but not peak opportunity,” as its impressive portfolio of assets should drive long-term shareholder returns in the tens of billions of dollars, The Value Portfolio writes in a bullish analysis posted on Seeking Alpha.
  • read more

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    Big Oil Clashes Over Fossil Fuel Future

    Big Oil Clashes Over Fossil Fuel Future

    By Charles Kennedy – Mar 02, 2021, 9:00 AM CST

    Executives from major oil companies clashed over the prospects of oil and gas for the future at the first virtual edition of the CERAWeek conference in Houston.

    While BP’s Bernard Looney and Shell’s Ben van Beurden boasted about their shift away from their core business and into renewable energy, Baker Hughes, Hess Corp., and Spain’s Repsol were among those believing that fossil fuels have yet to leave the scene for good, the Houston Chronicle’s Paul Takahashi reports. read more

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    Shell LNG Canada’s coronavirus restart plan approved

    Shell LNG Canada’s coronavirus restart plan approved

    ·

    Feb 12 (Reuters) – Royal Dutch Shell’s LNG Canada export project in British Columbia has won approval from health officials for construction to ramp back up with improved coronavirus protection measures.

    Work at the site was curtailed last month by an order from the Provincial Health Officer which applied to five major industrial projects in British Columbia, including LNG Canada.

    “Our approved restart and measured workforce increase at the project site will continue over the coming months,” LNG Canada and JGC I Fluor, the engineering joint venture building the project, said in a statement on Thursday. read more

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    Hedge funds bet on oil’s ‘big comeback’ after pandemic hobbles producers

    Hedge funds bet on oil’s ‘big comeback’ after pandemic hobbles producers

    FILE PHOTO: A combination of file photos shows the logos of five of the largest publicly traded oil companies; BP, Chevron, Exxon Mobil, Royal Dutch Shell, and Total. REUTERS/File Photo

    TORONTO (Reuters) – Hedge funds are turning bullish on oil once again, betting the pandemic and investors’ environmental focus has severely damaged companies’ ability to ramp up production. read more

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    Oil giant Shell follows rivals into huge loss

    Oil giant Shell follows rivals into huge loss

    “2020 was an extraordinary year,” said Chief Executive Ben van Beurden. “We have taken tough but decisive actions,” he said, with Shell having already announced plans to axe up to 9,000 jobs, or more than 10 percent of its global workforce.

    Published on: Friday, February 05, 2021: By AFP

    LONDON: Royal Dutch Shell on Thursday became the latest oil major to reveal huge annual losses as the coronavirus pandemic slashed energy demand and prices in 2020.

    Shell dived into a net loss of $21.7 billion (18.1 billion euros) last year as factories shut and planes were grounded. read more

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    Shell makes record loss in 2020 after more write-offs

    Shell makes record loss in 2020 after more write-offs

    Published date: 04 February 2021

    Shell posted a record loss in 2020 after it booked more hefty write-offs in the fourth quarter.

    Excluding inventory effects, Shell made a loss of $4.48bn in the October-December period, compared with a profit of $871mn a year earlier. The quarterly loss was largely driven by pre-announced, non-cash post-tax impairment charges of $2.7bn and charges of $1.1bn mainly for “onerous contract provisions”. read more

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    Shell plans to complete construction at Pennsylvania petchem project by 2022: CEO

    Shell plans to complete construction at Pennsylvania petchem project by 2022: CEO

    PETROCHEMICALS: 04 Feb 2021 | 21:06 UTC: New York

    New York — Shell Chemical announced that construction at its $6 billion petrochemical complex in Pennsylvania is expected to be completed in 2022, Shell CEO Ben Van Beurden said during an earnings call Feb. 4.

    Shell previously expected the Pennsylvania project to start up in the first half of 2021 after suspending work in mid-March 2020 due to coronavirus pandemic concerns. read more

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    Oil major Shell reports sharp drop in full-year profit, raises dividend

    Oil major Shell reports sharp drop in full-year profit, raises dividend

    Sam Meredith@SMEREDITH19: PUBLISHED THU, FEB 4 20212:31 AM EST UPDATED THU, FEB 4 20213:18 AM EST KEY POINTS
    • Shell reported adjusted earnings of $4.85 billion for the full-year 2020. That compared with a profit of $16.5 billion for the full-year 2019.
    • The company said it would raise its first-quarter dividend to $0.1735 per share, reflecting an increase of 4% from the previous quarter.
    • The results come as energy giants seek to reassure investors about their future profitability, following a dreadful year for the global oil and gas industry by virtually every measure.

    LONDON — Oil giant Royal Dutch Shell on Thursday reported a sharp drop in full-year profit as the coronavirus pandemic took a heavy toll on the global oil and gas industry.

    Shell reported adjusted earnings of $4.85 billion for the full-year 2020. That compared with a profit of $16.5 billion for the full-year 2019, reflecting a drop of 71%. Analysts polled by Refinitiv had expected full-year 2020 net profit to come in $5.15 billion. read more

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    2020 Was One of the Worst-Ever Years for Oil Write-Downs

    2020 Was One of the Worst-Ever Years for Oil Write-Downs

    Royal Dutch Shell’s Prelude floating facility has struggled to deliver income. PHOTO: ROYAL DUTCH SHELL AUSTRALIA/REUTERS

    By Collin Eaton and Sarah McFarlane: Dec. 27, 2020 9:00 am ET

    The pandemic has triggered the largest revision to the value of the oil industry’s assets in at least a decade, as companies sour on costly projects amid the prospect of low prices for years.

    Oil-and-gas companies in North America and Europe wrote down roughly $145 billion combined in the first three quarters of 2020, the most for that nine-month period since at least 2010, according to a Wall Street Journal analysis. That total significantly surpassed write-downs taken over the same periods in 2015 and 2016, during the last oil bust, and is equivalent to roughly 10% of the companies’ collective market value. read more

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    Shell to Provide Over One Million Pieces of PPE to U.S. Communities

    Shell to Provide Over One Million Pieces of PPE to U.S. Communities

    NEWS PROVIDED BY Shell Oil Company Dec 22, 2020, 09:00 ET

    HOUSTONDec. 22, 2020 /PRNewswire/ — As the number of COVID-19 cases surges across the country, Shell Oil Company (Shell) has announced it will contribute more than one million pieces of PPE to communities and medical care facilities from coast to coast. Extra face shields, non-medical masks and nitrile gloves are now arriving in some of the hardest hit areas of the country. read more

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    Shell fourth quarter 2020 update note

    Shell fourth quarter 2020 update note

    | Source: Shell International B.V.

    The Hague, December 21, 2020 − This is an update to the fourth quarter 2020 outlook provided in the third quarter results announcement on October 29, 2020. The impacts presented here may vary from the actual results and are subject to finalisation of the fourth quarter 2020 results.

    This update note is presented based on prevailing commodity prices and forward curves, further movements and volatility till the end of the year are likely to impact earnings and CFFO. read more

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    Layoffs at shuttered Shell Convent, Louisiana, refinery to begin in late Feb -sources

    Layoffs at shuttered Shell Convent, Louisiana, refinery to begin in late Feb -sources

    By Reuters Staff: DECEMBER 18, 2020

    HOUSTON (Reuters) -Layoffs of hourly workers at Royal Dutch Shell Plc’s shuttered Convent, Louisiana, refinery are scheduled to begin on the last day of February, said sources familiar with plant operations.

    The next round of layoffs is scheduled for March 31, the sources said.

    A Shell spokesman did not reply to a request for comment.

    About 350 hourly workers will leave jobs they have performed for years at the 211,146 barrel-per-day (bpd) refinery located 46 miles (74 km) west of New Orleans. read more

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    Shell to axe refining plants and focus on dividends and debt reduction

    Shell to axe refining plants and focus on dividends and debt reduction

    Philip Whiterow: 07:31 Thu 29 Oct 2020

    Royal Dutch Shell PLC (LON:RDSB) has unveiled a huge restructuring of its refining and chemical operations as part of a strategic overhaul that places dividends at its centre.

    The Anglo-Dutch giant said its fourteen refining sites will be reduced to six integrated chemical parks, with a switch in focus to performance chemicals and recycled feedstocks.

    Shell’s marketing arm will also be strengthened with the development of the integrated power business and hydrogen and biofuels. read more

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    The Big Oil Side Hustle: Where ‘Renewable’ Money Is Really Going

    The Big Oil Side Hustle: Where ‘Renewable’ Money Is Really Going

    By Alex Kimani – Oct 20, 2020, 6:00 PM CDT

    In 2016, Shell set an ambitious goal to invest $4bn to $6bn in clean energy projects by 2020, though the Guardian recently reported that it was unlikely to meet that target. So, why is Big Oil still dragging its feet…

    Every time an oil and gas major announces a major foray into renewable energy, the skeptics come out like clockwork and lambast the sector for merely trying to burnish its green credentials. read more

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    Oil Majors Stuck Between A Rock And A Hard Place

    Oil Majors Stuck Between A Rock And A Hard Place

    By Andreas De Vries – Oct 18, 2020, 6:00 PM CDT

    Extracts

    The past few years have been historic for as far as crude oil forecasts are concerned. Back in 2015 the view that crude oil demand could peak during the 2020s or 2030s was still met with disbelief (and some ridicule…). Economic growth had been pushing crude oil demand up ever year for decades already, so why would things become different, so the reasoning went. Today, however, essentially all major energy forecasters, including BPShellTotalDNV-GL, the IEA and even OPEC, have come round and acknowledge Peak Oil Demand as a realistic possibility. read more

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    Workers removed from North Sea platform after colleague tests positive for Covid-19

    Workers removed from North Sea platform after colleague tests positive for Covid-19

    More than a dozen workers have been removed from a North Sea platform after a colleague tested positive for Covid-19.

    Energy giant Shell confirmed that a crew member, who was demobilised from the Nelson platform on Friday, subsequently tested positive for the virus.

    Contact tracing then found another 14 people had come into close contact with the individual, who were all removed from the installation on Sunday as a precaution. read more

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