News and information on Royal Dutch Shell Group
Shell makes $9.65 bln profit in first quarter, beating forecasts
REUTERS: May 4, 20237:15 AM GMT+1
LONDON, May 4 (Reuters) – Shell (SHEL.L) made a net profit of $9.65 billion in the first three months of the year, it said on Thursday, dropping slightly from the previous quarter as energy prices cooled but still beating forecasts.
Shell kept its dividend unchanged at $0.2875 per share and also kept the rate of its share repurchase programme stable at $4 billion over the next three months.
BBC NEWS
Shell reports highest profits in 115 years
Oil and gas giant Shell has reported record annual profits after energy prices surged last year following Russia’s invasion of Ukraine.
Profits hit $39.9bn (£32.2bn) in 2022, double last year’s total and the highest in its 115-year history.
It has heaped pressure on firms to pay more tax as households struggle with rising bills.
Opposition parties said Shell’s profits were “outrageous” and the government was letting energy firms “off the hook”. They also called for the planned increase in the energy price cap due in April to be scrapped.
BBC NEWS
Shell pays no UK windfall tax despite profits jump
The energy giant said global profits reached $9.5bn (£8.2bn) between July and September, compared to $4.2bn during the same period last year.
However, Shell said that because it had made large investments in the UK, it meant it had made no profit here.
It also does not expect to start paying windfall taxes until early next year.
The Energy Price Levy – or windfall tax – on the profits of energy firms was announced by Rishi Sunak in May, when he was chancellor. At the time he said it would raise £5bn in its first year.
The Telegraph
Shell in talks with Government as ministers consider new windfall tax
Oil and gas giant did not pay any tax in Britain, despite an existing windfall scheme
By Rachel Millard: 27 October 2022 • 5:48pm
Shell is in talks with the Government as ministers consider a fresh windfall tax on oil and gas companies to help fill a £35bn black hole in the public finances.
Ben van Buerden, chief executive of the oil and gas giant, said he accepted the case for higher taxes after the industry was boosted by surging fossil fuel prices following Vladimir Putin’s invasion of Ukraine.
Shell to give staff 8% bonus after record profits
Just those at executive vice president level or higher will be excluded from the taxable payout.
Shell said the award reflects the company’s current financial success but has no link to the rising cost of living challenges.
A Shell spokesperson said: “In recognition of the contribution our people have made to Shell’s strong operational performance against a recent challenging backdrop, our executive committee has decided to make a Special Recognition Award of 8% of salary to all eligible staff across the world.
The Telegraph
Shell and British Gas owner post record profits as energy bills surge
: 28 JULY 2022 • 12:28PM
Shell and the owner of British Gas are handing billions of pounds back to shareholders as Russia’s war in Ukraine drives record-breaking profits.
Shell will repurchase a further $6bn (£4.9bn) of shares in the third quarter, having already bought back $8.5bn of stock in the first half of the year.
It came after the FTSE 100 company’s profit jumped to $11.5bn in the three months to the end of June – its second consecutive quarter of record profits – as it cashed in on high oil and gas prices.
CITYA.M.
Happy as a clam: Shell raises value of oil and gas assets as refining soars
NICHOLAS EARL: THURSDAY 07 JULY 2022 3:28 PM
Shell has announced it will reverse up to $4.5bn in write-downs taken on the value of its oil and gas assets after raising its energy prices outlook following Russia’s invasion of Ukraine and subsequent disruption to fossil fuel trading across the world.
In an update ahead of its second quarter results on July 28, the energy giant revealed its refining margins almost tripled over the three-month period.
Shell consultant quits and accuses firm of ‘extreme harms’
By Annabelle Liang: Business reporter: 25 May 2022
A safety consultant at oil and gas giant Shell has stopped working for the firm, as she accused its top executives of failing to protect the environment.
In a post on the professional networking platform LinkedIn, Caroline Dennett said the company is “causing extreme harms to our climate, environment, nature and to people”.
It has drawn over 10,000 likes and has been shared more than 1,200 times.
Yahoo!news
Shell to write off up to $5bn on Russia exit
: Thu, April 7, 2022, 8:41 AMEnergy stalwart Shell (SHEL.L) has warned that its exit from Russia could cost it as much as $5bn (£3.8bn) in the first three months of this year.
Shell will write off between $4bn and $5bn in the value of its assets, but the post-tax impairments will not impact the company’s earnings, it said in an update ahead of its earnings announcement in May.
Thursday’s announcement offers a first glimpse of the potential financial hit to western oil companies withdrawing from the country following its invasion of Ukraine.
The Guardian
Shell U-turn on Cambo oilfield would threaten green targets, say campaigners
Company is reviewing decision to withdraw from North Sea project because of high oil price, report claims
Jasper Jolly: Tue 22 Mar 2022 09.41 GMT
Climate activists have reacted with concern to reports that Shell is reconsidering its decision to abandon development of the Cambo oilfield, warning that such a reversal would further threaten emissions reductions targets.
The fossil fuel producer could U-turn on a decision to pull out of the North Sea project because the “economic, political and regulatory environment had changed enormously since the decision was announced just three months ago”, according to sources cited by the BBC.
The Guardian
New calls for windfall tax as Shell unveils highest quarterly profit in eight years
Jillian Ambrose and agency: Thu 3 Feb 2022 12.13 GMT
Shell has cashed in on rocketing oil and gas markets by quadrupling its profits to historic highs, fuelling fresh calls for a windfall tax on fossil fuel giants to help hard-pressed households cope with record energy bills.
The UK’s Labour party has called for the government to fund measures to help British households weather the cost of living crisis by imposing a windfall tax on North Sea oil and gas producers.
London Evening Standard
Shell to hand £6bn to shareholders as oil and gas prices soar
It has been a bumper three months for energy giant Shell, which managed to increase its profits nearly fourteen-fold amid soaring oil and gas prices.
As prices surged, the company’s upstream unit was able to collect 8.88 dollars for every thousand cubic feet of gas it sold to customers over the last quarter of 2021.
Just six months earlier gas had been selling for 4.31 dollars, less than half of its most recent level.
OILPRICE.COM
Shell Is Betting Big On Namibia’s Oil Boom
While all recent oil exploration attention has been on Exxon’s (NYSE:XOM) massive string of discoveries in Guyana, another giant player and a junior explorer are shifting to focus toward what may be the next up-and-coming oil hotspot …
It’s Namibia–a country that’s never produced a barrel of oil.
We don’t hear much about new oil discoveries these days. Onshore discoveries are almost unheard of because nearly everything except the African final frontier has been explored. Offshore discoveries are few and far between.
Mirror
UK oil and gas giants raked in £10BILLION in just THREE months as energy bills soar
Shell and BP reported the combined profits, dividends and buybacks just as wholesale gas prices began to soar. The two firms have had £660 million in tax credits in the last five years
The UK’s biggest oil and gas companies raked in £10.2billion in just three months last year, figures reveal.
Shell and BP reported the combined profits, dividends and buybacks just as wholesale gas prices began to soar.
OILPRICE.COM
Merger Mania Is Over: Oil Deals To See Quietest Year In Decades
Extracts
Sir Winston Churchill once admonished leaders to never let a good crisis go to waste, and Big Oil has rarely failed to heed the advice. Under normal circumstances, energy downturns have created perfect opportunities for deep-pocketed oil and gas heavyweights to land prime assets on the cheap. A good case in point: the last oil bust of 2016 was followed by a sizable number of huge M&A deals in the sector including the $60B tie-up between Royal Dutch Shell (NYSE:RDS.A) and BG Group, Canadian Oil Sands and Suncor EnergyEnergy, as well as a handful that fell through including the proposed merger between Halliburton (NYSE:HAL) and Baker Hughes (NYSE:BKR).
OILPRICE.com
The Unintended Consequences Of Punishing Big Oil
By Tsvetana Paraskova – Jun 23, 2021, 12:00 PM CDT
The ‘day of reckoning’ for Big Oil, when events at boardrooms and courtrooms issued last month the starkest warning to oil majors’ license to operate yet, was hailed as a huge victory for climate activists. But the climate celebration may be a bit premature.
Rebel shareholder votes at Exxon and Chevron and a court ruling against Shell delivered a blow to Big Oil in a single day, and environmentalists are ecstatic.
Engine No. 1 has told the Financial Times that Exxon will need to cut fossil fuel production for the company to position itself for long-term success, “What we’re saying is, plan for a world where maybe the world doesn’t need your barrels,” Engine No.1 leader Charlie Penner has told FT.
Meanwhile, a Dutch court has ordered Royal Dutch Shell (NYSE:RDS.A) to cut its greenhouse gas emissions harder and faster than it had previously planned.
Whereas climate change issues are the presumptive reasons behind the latest wave of investor revolts at the oil and gas giants, lurking beneath the surface is a growing sense of apprehension about Big Oil’s strategy and failure to generate adequate returns for shareholders in recent decades.
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 POINTSLONDON — 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.
Will Big Oil’s Huge Carbon Capture Bet Pay Off?
By Tsvetana Paraskova – Apr 21, 2021, 1:00 PM CDT
“We’re sending carbon back where it came from,” Norway’s energy giant Equinor says, describing its efforts to make carbon capture and storage (CCS) commercially viable in a future decarbonized energy system. Equinor is a joint venture partner with two other oil majors, Shell and Total, in developing the Northern Lights project in Norway, which is planned to deliver carbon storage as a service to help third-party industries to reduce emissions.
Shell looks to Gulf of Mexico for lower carbon oil drilling; here’s what it means for Louisiana
Despite headwinds from corporate mandates to reduce carbon emissions, a temporarily halt for new federal leases in the Gulf of Mexico while the Biden administration reviews its impact on climate change and low oil prices, Royal Dutch Shell sees itself drilling for more oil off the coast of Louisiana and Texas.
“We still think that we’ll be here for decades to come,” said Rick Tallant, vice president Gulf of Mexico at Shell. “There’s still a lot of running room in the Gulf of Mexico, the margins are very good for our investors and the greenhouse gas intensity is arguably the best in the industry.”
Houston, We Have A Problem. Oil Reserves Have Fallen Below 10 Years
Big oil has a big problem. It’s running out of oil.
Years of under-investment in exploration and a decline in project development has blown a hole in the reserves of the major international oil companies (IOCs), a group that includes ExxonMobil, Chevron and Royal Dutch Shell.
Since 2015 the average reserves of the oil majors has fallen by 25% to now stand at less than 10 years of annual production.
Reserves in the ground is a critical measure of an oil company with a decline seen as a negative by investors.
Shell’s oil trading earnings double in 2020 to $2.6 bln
LONDON, March 12 (Reuters) – Royal Dutch Shell’s 2020 earnings from crude oil and refined products trading nearly doubled from the previous year to $2.6 billion, according to the company’s annual report.
Reporting by Ron Bousso; Editing by Edmund Blair
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.
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.
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.
Oil major Shell reports sharp drop in full-year profit, raises dividend
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.
Dutch appeals court rules Shell Nigeria unit responsible for oil leaks
Reuters Staff: JANUARY 2021/ 10:32AMSTERDAM, Jan 29 (Reuters) – A Dutch appeals court on Friday said that the Nigerian subsidiary of Royal Dutch Shell was responsible for oil pipeline leaks in the Niger Delta and ordered it to pay unspecified damages farmers.
The decision went a step further than a 2013 ruling by a lower court, saying that Shell’s Nigerian subsidiary was responsible for multiple cases of oil pollution.
Reporting by Anthony Deutsch; editing by Jason Neely
AskWonder.com: Research on external factors (suppliers, customers, competition, environment, etc) that are influencing Royal Dutch Shell at the moment. Delivered January 30th, 2017.
Links to royaldutchshellplc.com and royaldutchshellgroup.com as reference sources.
2020 Was One of the Worst-Ever Years for Oil Write-Downs
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.
World’s top oil trader retiring from Shell
, Bloomberg News: 9 Dec 2020
Royal Dutch Shell Plc is shaking up its mighty in-house trading unit, with the retirement of Mark Quartermain as head of crude — a job widely seen as the most powerful in the global oil-trading industry.
The Anglo-Dutch oil major used the reshuffle to promote at least three women to top positions in trading, a rarity for an industry still dominated by men.
Quartermain will retire in the summer of 2021, less than four years after taking the job, having led the team through one of the most turbulent and profitable periods in history. He will be replaced by Stacie Pitts, who becomes the most influential woman in the oil-trading business.
Oil majors wipe $80 billion off books as epidemic, energy transition bite
By Ron Bousso:
By Ron Bousso
LONDON (Reuters) – The world’s top energy companies have slashed the value of their oil and gas assets by around $80 billion (60.05 billion pounds) in recent months after revising lower the long-term outlook for fuel prices in the wake of the coronavirus epidemic and the energy transition.
Exxon Mobil, the largest U.S. oil company, announced on Monday it would write down the value of natural gas properties by $17 billion to $20 billion, its biggest ever impairment following the sharp drop in energy prices this year.
Shell: Regaining Dividend Respectability And Shifting Toward Green Hydrogen
The Daily Drilling Report: 10 November 2020
SummaryThe 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.
Shell Singapore to cut 500 jobs in next three years as it downsizes Pulau Bukom operations
Ovais Subhani: NOVEMBER 10, 2020
The transition at Bukom has been planned in consultation with all the stakeholders including the Government and the trade union.
SINGAPORE – Royal Dutch Shell’s pivot away from crude oil towards a low-carbon slate of fuels will cost Singapore 500 jobs and half of the processing capacity on Pulau Bukom in the next three years.
Shell to axe refining plants and focus on dividends and debt reduction
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.
Big Oil’s $110 billion asset sale target could prove big ask
By Ron Bousso: October 1, 2020
LONDON (Reuters) – Leading energy companies are hoping to sell dozens of oil and gas fields and refineries worth more than $110 billion to curb both their ballooning debt and their carbon footprints.
But with the outlook for oil and gas prices uncertain because of the coronavirus pandemic and a shift to cleaner energy, finding buyers and striking deals might prove tricky.
“This is not a very good time to sell assets,” Total CEO Patrick Pouyanne said while presenting the French giant’s strategy to switch to renewables on Wednesday.
U.S. and European Oil Giants Go Different Ways on Climate Change
While BP and other European companies invest billions in renewable energy, Exxon and Chevron are committed to fossil fuels and betting on moonshots.
By Sept. 21, 2020, 5:00 a.m. ETHOUSTON — As oil prices plunge and concerns about climate change grow, BP, Royal Dutch Shell and other European energy companies are selling off oil fields, planning a sharp reduction in emissions and investing billions in renewable energy.
The American oil giants Chevron and Exxon Mobil are going in a far different direction. They are doubling down on oil and natural gas and investing what amounts to pocket change in innovative climate-oriented efforts like small nuclear power plants and devices that suck carbon out of the air.
Big Oil’s Most Profitable Business Is No Longer Oil
It’s been a rough year for oil, to say that least. And the worst isn’t over yet. Even though oil demand, and therefore oil prices, have been slowly recovering, that upward trajectory is now running out of steam and we’re headed toward a slump amidst what will almost certainly be a yearslong recession in the wake of the economic fallout from the devastating spread of the novel coronavirus.
Shell Swings to Historic Loss as Pandemic Devastates Oil Demand
Anglo-Dutch oil major warns that uncertain demand outlook could curtail its third-quarter production
Royal Dutch Shell PLC swung to a heavy loss in the second quarter and warned that the outlook for oil-and-gas demand continued to be uncertain, illustrating the scale of damage Covid-19 is wreaking on the industry.
The pandemic has decimated demand for oil, hitting prices hard. When around two-thirds of the world’s population was in lockdown in early April, global oil demand fell by a third, according to the International Energy Agency.
Shell avoids loss with strong trading, wipes $17 billion off assets
Ron Bousso, Shadia Nasralla: JULY 30, 2020LONDON (Reuters) – Royal Dutch Shell (RDSa.L) avoided its first quarterly loss in recent history, helped by a booming trading business, but announced nearly $17 billion in impairment charges reflecting a pessimistic outlook for oil and gas prices.
Shell had warned last month it was set to slash the value of its oil and gas assets by up to $22 billion as the coronavirus crisis hollowed out energy demand.
“Shell has delivered resilient cash flow in a remarkably challenging environment,” CEO Ben van Beurden said in a statement on Thursday.
Shell’s share price is down 46% in 2020. Is now the time to buy?
Edward Sheldon, CFA | Tuesday, 21st July, 2020
The last time I covered Shell (LSE: RDSB) shares was on 10 March. At the time, Shell’s share price had just crashed spectacularly due to plunging oil prices and the oil price war that had erupted between Saudi Arabia and Russia. My view back then was that Shell’s share price weakness was a buying opportunity.
Fast forward to today, and Shell’s share price is actually lower than it was when I covered the stock in March. Did I get it wrong? Let’s take another look at the investment case for Shell.
Coronavirus Takes a Toll on Shell Imposing $15-$22B Write-Offs
Zacks Equity Research: Zacks
Royal Dutch Shell RDS.A recently provided an update on second-quarter 2020 guidance, envisioning its post-tax impairment charges between $15 billion and $22 billion. This hefty write-down comes as the coronavirus and associated demand deceleration wipe billions off the oil and natural gas asset value. Recently, Shell’s continental rival BP plc BP management confirmed that it anticipates taking impairments to the tune of $17.5 billion in the second quarter of 2020.
What Does the Record Write-Down Imply?
The energy industry, grappling with the twin demerits of oversupply and low pricing, expects the weak macro environment to persist. Companies like Shell and BP are carrying assets on their balance sheets that were purchased/developed at a time when commodity prices were materially higher than the current figures. As the market deteriorates, the operators are ultimately forced to take write-offs.
BBC NEWS: 30 JUNE 2020
Shell, one of the world’s largest oil companies, has warned that the low price of oil could reduce the value of its assets by up to $22bn (£17.9bn).
It said it expects oil to change hands at $60 per barrel in the long term and to be priced at $35 this year and $40 next year.
Shell follows rival BP in telling investors that oil hardware is not worth as much as it used to be.
BP told investors this month its assets could be worth $17.5bn less.
Countries across the globe have ordered people to stay indoors and not travel as a result of the coronavirus pandemic, which has caused a slump in demand for oil.
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.
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.
Bloomberg News: Jacqueline Poh: May 29, 2020: 10:51 AM EDTBloomberg) — Oil and gas companies worldwide have raised $171 billion of debt from the loan and bond markets since March after the coronavirus pandemic hit demand for fuel.
The $171 billion tally is equivalent to the volume of bonds sold for the industry in the whole year of 2019. The debt pile is set to grow further with almost $120 billion of borrowings due by the end of the year that will need to be either repaid or refinanced. Of that amount, $43 billion is in bonds and $76 billion in loans.
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.
By Elizabeth May May 12th 2020
It has been an interesting week. On the morning of May 6, I held a press conference in West Block before the weekly in-person session of Parliament opened. I spoke about how virtual Parliament is working, and Green recommendations to make it work better.
When we got to questions, the first one was CBC’s Julie Van Dusen. She asked about a possible bailout to Big Oil. And I explained that the evidence was coming in thick and fast that oil’s day was done. And she zeroed in on: “Are you saying oil is dead?”
Big Oil Earnings Battered By Virus, But Worst is Yet to ComeLaura 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.
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.
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.
See our link list of over 500 articles by the FT, Wall Street Journal, Reuters, Bloomberg, Forbes, Dow Jones Newswires, New York Times, CNBC etc, plus UK House of Commons Select Committee Hansard records, information on U.S. Securities & Exchange Commission website etc. all containing references to our Shell focussed websites, or our website founders Alfred and John Donovan. Includes TV documentary features in English and German, newspaper and magazine articles, radio interviews, newsletters etc. Plus academic papers, Stratfor intelligence reports and UK, U.S. and Australian state/parliamentary publications, also citing our Shell websites. Click on this link to see the entire list, all in date order with a link to an index of over 100 books also containing references to our websites and/or our activities.
John Donovan, the website owner
A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
This is not a Shell website. That fact should be abundantly plain from the overall content of this home page and our sister Shell focussed websites, including shellnazihistory.com. Click on the Disclaimer link at top of this page for more information. You Can Be Sure Shell does not endorse or approve of this website. There are no subscription charges nor do we solicit or accept donations. It is an entirely free to use website drawing attention to the negative side of Shell while also publishing positive news about the company. The Shell logo image with the white text used on this website, as per the above example, is in the public domain because its copyright has expired and its author is anonymous. It can be found on WIKIMEDIA COMMONS. Our shellenergy.website publishes Shell Energy customer complaints posted on Trustpilot where there is an ample supply. Use this link for Shell’s own website.
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA – HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
MORE DETAILS:
MORE DETAILS: After a solicitor acting for Shell threatened to make the litigation "drawn out and difficult" with the intention of draining the resources of a financially weaker opponent, my late father (Alfred Donovan) and I decided to mount a wide-ranging campaign as a counter-measure. We jointly founded the Shell Corporate Conscience Pressure Group, which nearly 15% of Shell UK retailers joined. We regularly conducted ethical surveys involving up to 1500 Shell petrol stations. All responses were opened and authenticated by an independent solicitor who supplied Affidavits confirming the results. In whole page announcements in trade magazines (examples above) we challenged Shell to commission and publish the resuits of independent research asking the same questions and offering respondents GUARANTEED anonymity. Shell never took up the invitation. Instead it asked the UK Advertising Standards Authority to investigate our Shell surveys. No problems were found. The head-cut image of Alfred Donovan appears courtesy of The Wall Street Journal. 
