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Nigeria Bribery Case Ends In Victory For Shell, Eni

Nigeria Bribery Case Ends In Victory For Shell, Eni

An Italian court has ruled that oil giants Royal Dutch Shell PLC and Eni SPA are not guilty in a bribery case involving a Nigerian oilfield that has spanned years, according to the Wall Street Journal.

Shell, Eni, and Eni’s CEO Claudio Descalzi, have been on trial for years in the infamous OPL 245 case. Shell, Eni, Descalzi, and others, were accused of knowing that more than $1.1 billion of the $1.3 billion deposited a decade ago into an escrow account controlled by the Nigerian government would eventually be used as bribes to secure oil drilling rights. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Andrew Mackenzie selected as chairman of Shell

Andrew Mackenzie selected as chairman of Shell

Former CEO of BHP will succeed Chad Holliday after six years in the position.

March 12, 2021

Royal Dutch Shell announced the appointment of Andrew Mackenzie as the new chairman with effect from the conclusion of Shell’s 2021 Annual General Meeting on May 18.

Mackencie will succeed Chad Holliday who will step down after six years as chairman and board director since September 2010.

Andrew Mackenzie, a British national, joined Shell’s Board in October 2020, after a distinguished career in the energy, petrochemicals and resources sector, latterly as Group CEO of BHP from 2013 to 2019. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

With oil past peak, Shell sharpens 2050 zero emissions goal

By Ron Bousso and Shadia Nasralla

LONDON (Reuters) – Energy giant Royal Dutch Shell vowed to eliminate net carbon emissions by 2050, raising its ambition from previous targets, as its oil output declines from a 2019 peak.

The Anglo-Dutch company is in the midst of its largest overhaul yet as it prepares to expand its renewables and low-carbon business in the face of growing investor pressure on the oil and gas sector to battle climate change.

Shell last year laid out a plan to reach net zero by 2050, in line with the Paris climate agreement and European Union ambitions, but it said the goal depended on its customers. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell to expand gas business despite pledge to speed up net zero carbon drive

 

Jillian Ambrose: Thu 11 Feb 2021 09.40 GMT

Shell has set new carbon emissions goals to become a net zero carbon energy company by 2050, but will continue to grow its gas business by more than 20% in the next few years.

Shell’s goal is to be net zero carbon company within 30 years, including the emissions from burning its fossil fuels. But the plans have raised concerns among green campaigners that Shell may still increase its emissions in the coming decade, which is considered a crucial period to avoid a climate catastrophe. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell May Re-evaluate Oil Operations Onshore Nigeria

Shell May Re-evaluate Oil Operations Onshore Nigeria

By Charles Kennedy – Feb 05, 2021, 1:30 PM CST

Persistent issues with theft and sabotage in the Niger Delta could prompt Shell to take a hard look at its operations onshore Nigeria, the supermajor’s chief executive Ben van Beurden said this week.

“Our onshore oil position, despite all the efforts we put in against theft and sabotage, is under challenge,” van Beurden told reporters, as carried by Reuters, after Shell reported another set of weak Big Oil results affected by the pandemic. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

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

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

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

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

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

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell: Regaining Dividend Respectability And Shifting Toward Green Hydrogen

Shell: Regaining Dividend Respectability And Shifting Toward Green Hydrogen

The Daily Drilling Report: 10 November 2020

Summary
  • Shell is taking a healthy approach toward energy transition and balancing capital projects in terms of energy source.
  • It’s also forging a leadership position in two key fuels that have been identified as being crucial to meeting Paris Climate goals – natural gas and hydrogen.
  • Shell is back in our good grades with its recent dividend raise and strong earnings prospects going forward.
  • At its recent price in the mid-$20s it represents a nice risk reward profile.

The question is, is the dividend safe? The answer here is yes, as it has just been raised. It seems Uncle Ben has heard the hue and cry of outraged shareholders, and is restoring some of what he took away just last quarter.

Ben Van Beurden, CEO Shell:

So we are announcing an increase of 4% in our dividends this quarter. But we’re also announcing a target milestone for our net debt of $65 billion for the near term. And once we have achieved this milestone, we target to further increase shareholder distribution. So we are not offering the promise of future growth, but also increasing shareholder distributions for the near term. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

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

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

FROM LEADER TO LAGGARD

FINANCIAL TIMES

Shell slims down to shape up for the energy transition

…the Anglo-Dutch group has been forced into previously unthinkable moves, change and scrutiny of its capital allocation plans mount, is scrambling to come up with an updated plan. In the meantime, it is cutting costs and streamlining.

On Wednesday it offered a glimpse into Project Reshape, its organisational restructuring in which up to 9,000 jobs will be cut from its 83,000-strong workforce to save $2.5bn a year.

All Shell is thinking about is how do we maintain our position as a market leader in every sense — from climate action to staying competitive in the oil and gas space,”one company insider said. “The fear is that we go from being a leader to a laggard. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Big Oil’s Nightmare Is Coming True

By Nick Cunningham – Jun 30, 2020, 5:00 PM CDT

Royal Dutch Shell said that it could cut the value of its oil and gas assets by as much as $22 billion, as it takes a dim view of the state of the oil market. The move adds more evidence to the notion that a huge slice of oil reserves will wind up as stranded assets.  Shell cut its Brent oil prices forecast from $60 per barrel to $35 for this year, and lowered its 2021 and 2022 forecasts to $40 and $50 per barrel, respectively, down from $60 previously. The lower outlook reflects the expected damage to the oil market due to the coronavirus and the negative impacts on the global economy, Shell said. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell boss ‘bothered’ by depiction of firm as ‘unwelcome player’ in energy transition

Shell boss ‘bothered’ by depiction of firm as ‘unwelcome player’ in energy transition

Royal Dutch Shell Plc had been turning out about 2.7 million barrels of oil each day until the novel coronavirus took hold of the world.

By Bloomberg: 09/06/2020

Demand for oil, the company’s core product, dropped almost a third in April, and the price of West Texas Intermediate briefly dipped into negative numbers for the first time.

It’s not easy to run an oil major when people suddenly stop needing oil.

Chief Executive Officer Ben van Beurden responded by slashing spending and cutting Shell’s dividend for the first time since World War II. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell Offers Staff Voluntary Severance Pay

Shell Offers Staff Voluntary Severance Pay

As the price of a Brent barrel is trading at nearly half of what it was at the beginning of the year, Royal Dutch Shell Plc (NYSE: RDS.A) is planning on offering some staff voluntary severance, according to Bloomberg sources.

In a note to its staff, Shell CEO Ben van Beurden said that the Dutch oil major was working to become leaner and more resilient, according to the Bloomberg sources who saw the correspondence. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Big Oil Earnings Battered By Virus, But Worst is Yet to Come

Big Oil Earnings Battered By Virus, But Worst is Yet to Come

Laura Hurst: May 11 2020, 4:31 AM

EXTRACTS

(Bloomberg) — Big Oil emerged from first-quarter earnings battered and bruised, but things are only going to get uglier.

Major oil and gas producers from Norway to the U.S. saw profit plunge in the opening three months of the year. Exxon Mobil Corp. reported its first loss in over 30 years, Royal Dutch Shell Plc cut its dividend for the first time since the Second World War.

Big Oil’s generous dividends have long been its main attraction to investors. But thanks to Shell Chief Executive Officer Ben van Beurden they are no longer sacrosanct, after he slashed his company’s payout by two thirds. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Oil Majors Take On More Debt To Fund Dividends

By Nick Cunningham – May 04, 2020, 5:00 PM CDT

Exxon posted its first quarterly loss in more than 30 years. But even as debt mounts and questions arise about peak oil demand, the oil supermajor nevertheless vowed to protect its dividend while also aiming to grow indefinitely into the future. Exxon lost $610 million in the first quarter, down from a profit of $2.4 billion a year earlier. Worse, the period only included a few weeks of oil prices at catastrophically low levels. As a result, the second quarter is bound to lead dramatically worse numbers. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell Has A Dire Warning For Oil Markets

By Alex Kimani – May 04, 2020, 3:00 PM CDT

After months of a deep and harrowing slide, fuel demand across the world is finally starting to sputter back to life. Traffic data, pipeline flows, and sales at gas stations in the Texas City of San Antonio, Beijing, and Barcelona all suggest that the oil demand slump may have already bottomed out. But don’t rush to pop the champagne corks just yet.  Indications so far are that the road to full recovery is going to be harder than climbing out of a subterranean pit, with many oil traders predicting that it might be a year or more before demand returns to pre-crisis levels. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Transition to low-carbon energy may accelerate after crisis – Shell

Shadia Nasralla, Ron Bousso: APRIL 30, 2020

LONDON, April 30 (Reuters) – The ongoing transition to low-carbon energy sources may accelerate as economies recover from the impact of the coronavirus crisis, the head of oil and gas company Royal Dutch Shell said on Thursday.

Chief Executive Ben van Beurden said while Shell was not ringfencing its low-carbon Integrated Gas and New Energies division from spending cuts to weather the crisis, those businesses would be shielded from the worst of the reductions.

“Where possible, we try to spare (New Energies) a little bit and that is basically because we still believe that there is an energy transition underway which may even pick up speed in the recovery phase of this crisis and we want to be well positioned for it,” he said after Shell announced first-quarter results. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell cuts dividend for first time since WW2

30 APRIL 2020

The energy giant also suspended the next tranche of its share buyback programme.

The move came as it announced a 46% fall in first-quarter net income to $2.9bn (£2.3bn).

Chief executive Ben van Beurden warned of “continued deterioration in the macroeconomic outlook”.

He said Shell was taking “further prudent steps to bolster our resilience” and “underpin the strength of our balance sheet”.

Global demand for oil has all but dried up as lockdowns across the world have kept people inside. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell Sets Bolder Emissions Goal Even as Virus Hits Oil

Royal Dutch Shell Plc plans to eliminate all net emissions from its own operations and the bulk of greenhouse gases from fuel it sells to customers by 2050.

The energy giant is following in the footsteps of its peers BP Plc and Repsol SA, which have already set similar targets. Shell’s move indicates that, despite the turmoil caused in the industry by the coronavirus, major oil and gas companies aren’t abandoning the transition to cleaner energy. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell plans to save $10bn in face of oil price crash and coronavirus pandemic

Oil giant Royal Dutch Shell (RDSB.L) has announced plans to cut costs, slash planned spending, and abandon a share buyback, as businesses look to hold on to cash in response to the ongoing Covid-19 pandemic.

Shell said on Monday it would cut operating costs by up to $4bn over the next 12 months and reduce planned spending by $5bn in 2020. The company is also abandoning a planned $1bn share buyback.

Ben van Beurden, chief executive of Royal Dutch Shell, said the cash conservation measures were driven by the Covid-19 pandemic, which has led to a slump in demand for oil as the global economy grinds to a halt, and the oil price war between Saudi Arabia and Russia. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell revives long-delayed plan to build Canada‘s first LNG export terminal

Shell is pushing forward a long-delayed liquefied natural gas export project in British Columbia, making it the first Canadian LNG terminal to get the financial green light.

Shell‘s decision on Tuesday to move forward the $14 billion LNG Canada project — the largest of its kind in years — signals confidence that global demand will rise quickly enough to sop up growing supplies of LNG. It also opens a new competitive front for the U.S. terminal developers lining up to take advantage of booming demand for natural gas super-chilled to liquid form, particularly in Asia. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell appoints new head of downstream business

Shell appoints new head of downstream business

By Ron Bousso: Reuters: November 1, 2019

* Downstream business seen as key to Shell’s energy transition

* Vigeveno previously led Shell’s global commercial business 

By Ron Bousso

LONDON, Nov 1 (Reuters) – Royal Dutch Shell has appointed Huibert Vigeveno to head its downstream businesss, the refining, trading and marketing operations that are to become a key pillar for the oil and gas company as it transitions to cleaner energy.

Vigeveno, 50, previously led Shell’s global commercial business and rose to prominence when he oversaw the integration of smaller rival BG Group after its $53 billion acquisition in 2016. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

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Shell still has appetite for Mideast investments, says CEO

Shell still has appetite for Mideast investments, says CEO

Royal Dutch Shell CEO Ben van Beurden

OCTOBER 9, 2019 / 10:30 AM

LONDON (Reuters) – Royal Dutch Shell (RDSa.L) has no intention to change its plans to invest in the Middle East, Chief Executive Ben van Beurden said on Wednesday

“We have absolutely no intention to change our attitude and appetite for investing in the Middle East. Far from it,” van Beurden told the Oil & Money conference.

Shell pulled out of the Majnoon oilfield in Iraq two years ago and earlier this year sold its stake in a refinery in Saudi Arabia. It is a major investor in Qatar and Oman. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell Profit Misses as Slowing Economy Hurts Gas, Chemicals

Bloomberg: Shell Profit Misses as Slowing Economy Hurts Gas, Chemicals

By Kelly Gilblom: 1 August 2019, 07:15 BST Updated on 1 August 2019, 08:14 BST

Cash flow rises, but integrated gas adjusted profit falls 25%

Shell CEO says macroeconomic conditions were challenging

Royal Dutch Shell Plc got caught into the same earnings trap as many of its peers, reporting second-quarter earnings that fell well short of expectations as the slowing global economy hit everything from natural gas to chemicals.

Profit in Shell’s integrated gas division was down by 25%, but earnings were lower across all of its businesses, including upstream oil and gas production, and refining and chemicals.

“We’ve seen some very severe macroeconomic headwinds — probably most pronounced in our downstream business where we saw some weaker refining margins — but especially a much weaker trading environment for petrochemicals,” Chief Executive Officer Ben Van Beurden said in a Bloomberg TV interview on Thursday. “In our upstream, we’ve seen headwinds particularly in North American gas.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

REUTERS: Russia’s Putin to meet Shell CEO on Thursday: Kremlin

FILE PHOTO: Russian President Vladimir Putin (L) meets with Ben van Beurden, CEO of Royal Dutch Shell company, in Moscow, Russia June 21, 2017. REUTERS/Sergei Karpukhin/File Photo

JULY 18, 2019

ST PETERSBURG (Reuters) – Russian President Vladimir Putin will meet Royal Dutch Shell Chief Executive Ben van Beurden in St Petersburg later on Thursday, Kremlin aide Yuri Ushakov said.

Ushakov did not say what the two men would talk about. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Eat seasonally and recycle more to cut emissions, says Shell

Royal Dutch Shell has issued a plea to companies across different sectors of the economy to work with it on plans to reduce their carbon emissions to “net zero”.

Ben van Beurden, chief executive of Europe’s biggest oil company, said that the airline and shipping industries were among the sectors being targeted initially for a “climate coalition”.

In a speech to The Times CEO Summit, Mr van Beurden, 61, also called for action to address unsustainable consumption patterns, citing “consumers who choose to eat strawberries in winter” and a throwaway culture in some industries where recycling could instead be the default. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell investors in line for £99bn windfall as oil giant’s boss announces fresh strategy for ‘energy transition’ to greener tech

Shell is to return $125bn over five years through dividends and share buybacks

That’s more than double the $52bn handed between 2011 and 2015

Energy group expects new projects will generate $35billion

Shares in Royal Dutch Shell fell despite the oil and gas giant revealing plans to return $125billion (£99billion) to shareholders over five years through dividends and share buybacks.

This is more than double the $52million (£41billion) handed to shareholders between 2011 and 2015.

Shell said it expects to pay for that with money from new projects, which it expects will generate $35billion, assuming oil remains priced at $60 per barrel. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell plans to boost returns and become a force in power

Shell plans to boost returns and become a force in power

Ron Bousso: JUNE 4, 2019 LONDON (Reuters) – Royal Dutch Shell outlined plans on Tuesday to boost shareholder returns after 2020, while also increasing spending on oil, gas and power, as it capitalizes on years of cost cutting to prepare for a lower carbon future.

In a strategy update, the Anglo-Dutch energy company said it was on track to deliver on its commitment to sharply increase cash generation and carry out one of the world’s largest share buyback programs of $25 billion by the end of next year.

It then plans to increase payouts to investors through dividends and share buybacks to $125 billion between 2021 and 2025, roughly half of its current market value. That compares with payouts of around $90 billion between 2016 and 2020.

While offering sweeteners to investors, Shell also outlined plans to increase spending in the next decade to grow its gas, oil, renewables and power output. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Royal Dutch Shell to invest $2 billion per year in Brazil: newspaper

MAY 9, 2019: SAO PAULO (Reuters) – Royal Dutch Shell PLC has plans to invest about $2 billion per year in Brazil through 2025, Chief Executive Ben van Beurden told newspaper Valor Econômico in an exclusive interview.

Its investment plans could be increased to allow the company to bid in three upcoming oil and gas auctions, Valor reported in its Thursday edition based on the interview.

Royal Dutch Shell will not focus exclusively on oil projects, the report said. It is interested in exploring opportunities in natural gas, biofuels and the solar energy sector, Valor said. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell not ‘desperate’ to grow US shale despite Anadarko sale: CFO

London — Shell is keen to grow its US shale oil portfolio but does not feel pressured to chase new acquisitions, as Occidental and Chevron battle for control of Anadarko’s Permian-rich upstream assets, Shell Chief Financial Officer Jessica Uhl said Thursday.

Shell doesn’t “need” to do a US shale deal as it already has a strong US portfolio of shale and tight oil, which has further room for volume growth, Uhl said.

“We have significant growth capacity in our existing position and, in that sense, we are not desperate. We don’t need to find new shale exposure … but we like the business,” Uhl told analysts on an earnings call. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Environmental groups to sue Shell over climate change

By Associated Press: April 5 at 7:01 AM

THE HAGUE, Netherlands — Climate activists are planning to deliver a court summons to Shell in a court case aimed at forcing the energy giant to do more to rein in carbon emissions.

The summons is being delivered to Shell’s headquarters in The Hague on Friday afternoon.

The move comes a year after the Dutch branch of Friends of the Earth sent a letter to Shell’s CEO Ben van Beurden accusing the company of “breaching its legal duty of care” by causing climate damage across the globe. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Dutch environmental groups take Shell to court over climate change

April 5, 2019

Environmental activists take Shell to court on Friday to try to stop the Anglo Dutch oil giant drilling for gas and oil, and to ensure it meets climate change targets.

Some 17,000 people and six organisations have signed up to Milieudefensie’s call for co-defendants in the case, which the green group hopes will lead to a judge ‘forcing Shell to stop being a major cause of climate change.’

The 2015 Paris agreement on climate change included a commitment to leave oil, gas and coal in the grounds as much as possible, the lobby group says. ‘These three fuels are major causes of global warning and this is why we have to stop our dependence on them as soon as possible. ‘ read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell ‘most valuable’ global oil and gas brand

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Oil giant Shell has emerged as the world’s “most valuable” oil and gas brand, according to a global brand consultancy group.

Brand valuation and strategy consultancy firm Brand Finance claim Shell has experienced a 7% boost in its brand value in 2019.

It also places the firm as the 26th most valuable across all industries.

Brand Finance value Shell at £32 billion as a consequence of the 7% increase.

Chinese oil and gas firms PetroChina and Sinopec took second and third place with a value of £27bn and £22bn, respectively.

French oil giant Total, UK firm BP and US firm Chevron came in at fourth, fifth and sixth place. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Russia Could Be World’s Largest Natural Gas Producer – Shell CEO

Shell CEO Ben van Beurden subservient bow to Putin: Good Friday 18 April 2014

Source:sputniknews.com Published: 2019/3/19 18:16:45

Russia could become the largest natural gas producer in the world, Ben van Beurden, the CEO of Shell, wrote in an article for RIA Novosti.

“The world needs more natural gas to meet rising energy demand, to complement renewables and to replace coal in power generation. And the opportunity for Russia is huge. It is already the world’s largest exporter of natural gas and it enjoys the world’s largest commercial gas reserves. It is the second largest producer of natural gas. It could be the largest,” van Beurden said. read more

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Oil fat cat Shell CEO Ben van Beurden cashes in

Ben Van Beurden’s total pay package soared by 126% last year: Last year, over a quarter of Shell’s investors voted against Mr van Beurden’s pay at the energy giant’s annual meeting

The boss of oil and gas giant Royal Dutch Shell received a 126 per cent pay rise last year.

Chief executive Ben Van Beurden pocketed over £17million, including a long-term incentive plan linked sum of £12.8million, up from £7.6million, and a £2.5million bonus.

In its latest results, the group said: ‘As a consequence of the LTIP vesting in particular, the single figure of remuneration for the CEO is significantly higher this year than in previous years.’ read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Russia can become the world’s top natural gas producer – Shell CEO

Russia can become the world’s top natural gas producer – Shell CEO

Published time: 15 March 2019

With the biggest natural gas reserves on the planet, Russia could become the world’s number one producer of the fuel, according to Ben van Beurden, the CEO of Anglo-Dutch energy major Shell.

The top executive says that rapidly increasing demand for natural gas has occurred due to the worldwide trend aimed at forcing out coal from power generation and the widening opportunity of available renewable energy sources.

“Russia’s chances in the field are huge,” van Beurden wrote in an article for RIA Novosti, stressing that the country is the world’s largest exporter of natural gas.

“It is the second largest producer of natural gas. It could be the largest,” he said. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell Oman and Oman LNG sign agreement

The agreement was signed by Maarten Wetselaar, Shell’s Director of Integrated Gas and New Energies together with Harib Al Kitani, CEO of Oman LNG in the presence of Ben van Beurden, CEO of Royal Dutch Shell.

March 3, 2019 | 1:55 PM by Times News Service

The agreement will combine Shell’s experience of implementing technology and developing innovative solutions to support Oman LNG’s digitalisation drive to better equip it for the future.

Maarten Wetselaar said, “With energy transition and more demand for digitalisation, we are seeing the evolution of the industry. Innovative technology and data is creating an incredible opportunity in the energy industry, giving us the ability to track trends and make better decisions. We are delighted to collaborate with Oman LNG and explore new ways in which they can improve their asset efficiency and profitability, reduce operation costs, accelerate production and speed.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell highlights progress made West of Shetland amid Brexit uncertainty

ROYAL Dutch Shell boss Ben van Beurden has underlined the fact the company wants to grow in the UK North Sea even as he expressed concern about the prospect of a no-deal Brexit.

Speaking after Shell posted a 36 per cent increase in annual profits to a four year high of $21.4 billion (£16.3bn), from $15.8bn, Mr van Beurden said the oil giant believed a no deal Brexit would be “a very bad outcome” but had prepared for the possibility.

Indicating that even a messy Brexit would have limited impact on the company’s plans, he said Shell was very pleased with its UK business. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell delivers on buyback promise after profits double

Resurgent oil and gas prices helped Royal Dutch Shell to double its profit to almost $24 billion last year, the highest since 2012.

Ben van Beurden, chief executive of the Anglo-Dutch energy group, said it was “delivering on pretty big promises” to investors as it embarked on the latest tranche of its $25 billion share buyback.

Mr van Beurden, 60, also became the latest voice in big business to warn against a no-deal Brexit, saying that it would be “a very bad outcome”.

Shell employs about 80,000 people worldwide, primarily in the production and sale of oil and gas. It produced the equivalent of 3.7 million barrels of oil per day last year and benefited from the rise in prices after supply curbs by Opec… read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell sticking with spending discipline as 2018 profits soar

Shell sticking with spending discipline as 2018 profits soar

Ron Bousso: January 31, 2019

LONDON (Reuters) – Royal Dutch Shell said to would stick to spending discipline this year after 2018 profits jumped by more than a third to $21.4 billion, their highest since 2014.

The Anglo-Dutch oil company also reported a sharp rise in cash generation, in a further sign that cost savings since the 2014 oil market downturn are filtering into its operations.

Its shares were up by more than 4 percent at 1120 GMT.

A strong performance in the fourth quarter was driven by higher oil and gas prices, year-on-year, as well as a stronger contribution from crude oil and liquefied natural gas (LNG) trading. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell ‘leading the way’ on climate change

Shell ‘leading the way’ on climate change

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Oil super major Shell is “ahead of the curve” on facing up to climate change responsibilities, its boss said today.

Green investor groups have been putting increasing pressure on oil companies to clean up their acts in recent times.

In December, Shell revealed plans to link pay for its top brass to the achievement of emissions targets.

Shell said it would start setting targets for shorter periods in an effort to cut the net carbon footprint of its energy products by around half by 2050, and 20% by 2035. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell’s full-year profit surges to four-year high, beats expectations

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Oil giant Royal Dutch Shell reported better-than-expected full-year earnings on Thursday, as deep cost cuts introduced after the 2014 energy market downturn filtered through.

Full-year profits jumped 36 percent to $21.4 billion in 2018 — with cost savings helping the Anglo-Dutch company record its highest annual profits since 2014.

Net income attributable to shareholders on a current cost of supplies (CCS) basis, used as a proxy for net profit, and excluding identified items, came in at $5.7 billion. This compared to a company-provided analyst consensus of $5.28 billion for the final three months of 2018, according to Reuters. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell set to post best profits since 2014

Shell set to post best profits since 2014

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Royal Dutch Shell is set to unveil its highest annual profits for four years next week, but fourth-quarter figures are expected to take a hit from recent oil price falls.

Results on Thursday are expected to reveal a 39% surge in underlying earnings to £16.8 billion for 2018, up from £12.1 billion in 2017.

This would mark its highest profits since 2014 and comes after Shell hailed one of its “strongest ever quarters” for the three months to September as higher oil prices drove earnings up 37%.

But fourth-quarter results may take the shine off the performance after oil prices went into reverse since reaching a heady high of nearly $87 per barrel in October. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

When it comes to puff pieces, each to his own

Ben van Beurden has marked five years as chief executive of Royal Dutch Shell by giving a “wide-ranging interview” on climate change, his leadership style and “Shell’s biggest financial transformation” — an interview given to, erm, Royal Dutch Shell’s website. But rest assured, the oil group’s in-house journalists weren’t letting their boss off lightly. The transcript published yesterday features such hard-hitting questions as: “Who do you turn to for advice and support?” (answer: his wife, Stacey); “What are you most proud of when you look back at 2018?”; and “Why is trust so important for Shell?” A real zinger, that one. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell boss ‘still unhappy’ over safety record despite redoubling of efforts

Ben van Beurden Photographer: Aaron M. Sprecher/Bloomberg

The boss of oil giant Shell has admitted he is “still unhappy” with the firm’s safety performance, despite pledging a redoubling of efforts in 2018.

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Chief executive, Ben van Beurden, raised a call to redouble the firm’s focus on safety last year after a number of serious incidents in 2017.

An overturned tanker spill and explosion in Pakistan caused the tragic death of 200 people, while there were also fatalities in Canada and Nigeria.

Mr van Beurden added he is also focusing on restoring trust in the oil firm.

He said: “I’m still unhappy with our safety performance. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

BP, Shell to Face New Shareholder Challenge Over Climate in 2019

  • Dutch group Follow This may also target Exxon Mobil, Chevron
  • Resolutions ask companies to align business with Paris accord

The activists who rankled Royal Dutch Shell Plc by filing climate-change resolutions for three straight years now are targeting other oil majors.

Follow This, a Dutch group that accumulates shares in oil companies in order to press them over greenhouse gas emissions, has filed another resolution against Shell for 2019. It also filed its first resolution against BP Plc and may target Chevron Corp. and Exxon Mobil Corp. in the same way.

The group, led by former journalist Mark van Baal, has been a source of frustration for Shell management, even though its resolutions have gone down to defeat. Van Baal stood up at the Anglo-Dutch supermajor’s May 2018 shareholder meeting and said Shell was misleading its investors by saying it was on track to meet global climate targets, prompting CEO Ben van Beurden to angrily retort that wasn’t the case. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Carl Mortished: Shell’s great incentive is to oil the wheels of transition

Ben van Beurden

The linkage of carbon reduction targets to bonuses will not just apply to the top team but to a thousand or more senior Shell managers.

CARL MORTISHED: 5 Dec 2018

It’s tough setting pay incentives for the boss. You want him to have an eye on the big prize — more profits, more dividends. But you also want him to invest well, to run a tight ship and not sacrifice the long-term in pursuit of a quick buck. But what incentive is right when you worry that the core business might be banned within several decades?

Big oil companies wrestle with this. Investors adore the cash dividend from crude. But many want to know what the oil majors will do if petroleum-based fuels are phased out in order to reduce carbon emissions. Shell has been playing cat and mouse with some saintly shareholders who want their dividends free of soot and CO2. In order to achieve that, these investors want carbon-reduction targets embedded in the bosses’ bonus plans. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell churns out cash like oil’s above $100 again

Oil is trading well below its price of a decade ago, but you’d have no idea looking at Royal Dutch Shell Plc’s giant pile of cash.

The Anglo-Dutch oil major generated the most cash from operations in 10 years last quarter — almost $15 billion. The last time Shell pumped out that much money was the year crude soared to $140 a barrel, compared with about $75 today.

As a result, the company is showing greater confidence. It increased the pace of a $25 billion buyback program, rewarding shareholders who stuck with it through crude’s collapse. The cash surge is a feather in the cap of Chief Executive Officer Ben van Beurden, who splashed more than $50 billion on buying BG Group Plc in 2016 during the depths of the downturn. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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