New chairman for Shell as CEO takes 42 per cent pay cut March 11, 2021 British-Dutch energy giant Shell has today announced the appointment of Andrew Mackenzie as its new chairman. Mackenzie joined Shell’s board in October 2020 after a career in the energy sector, most recently as group CEO of BHP. He also had a three-year stint at Rio Tinto, after a 22-year career at BP. The appointment came [...]
Shell says peak oil has passed as firm sets course for net zero by 2050 February 11, 2021 Oil giant Shell today declared that it had already passed peak oil production as it announced more stringent plans to eliminate carbon emissions by 2050. At its strategy day this morning, the Anglo-Dutch firm said that its oil production had reached its zenith in 2019, and would fall 1-2.0 per cent every year. It also [...]
Shell ordered to pay damages for oil spill in Nigeria January 29, 2021 Shell must pay damages to four Nigerian farmers for two oil spills back in 2008, a Dutch court has ruled today. The court found that the Nigerian subsidiary of Shell was liable for two pipeline leaks that occurred in the Niger Delta 13 years ago. The plaintiffs argued that the oil spill meant that their [...]
Shell boosts dividend as oil giant beats profit forecasts October 29, 2020 Oil giant Shell beat analyst expectations for profit in the third quarter of a year, but the Anglo-Dutch firm’s income remained at historically low levels. It will also increase its dividend by four per cent, just months after slashing it by two-third, the first reduction since World War Two. The FTSE 100 firm posted $955m [...]
Shell to cut close to 9,000 jobs in transition plan September 30, 2020 Shell is cutting 9,000 jobs as it shifts away from oil production
The impact of coronavirus on dividends April 2, 2020 | City Talk As UK banks temporarily suspend all dividend payments, we discuss the effect coronavirus could have on a vital source of income for investors. What’s happening to dividends? The coronavirus crisis and oil price war are having a profound impact on economic growth and the cash position of companies. Many businesses in the most affected sectors [...]
Shell and Total slash costs and suspend buybacks amid oil price slump March 23, 2020 Oil giants Shell and Total have suspended their share buyback programmes and announced billions of dollars of cost cutting as they try to weather the recent crash in oil prices. The price of Brent crude slumped to a 17-year low last week as the coronavirus pandemic has cut global demand for oil and a price [...]
Billions wiped off FTSE oil giants BP and Shell after global oil prices sink March 9, 2020 Oil major BP has lost nearly £20bn of its value today as investors ditch energy stock following the oil price rout. Rival Royal Dutch Shell has seen its market capitalisation shrink £18.1bn since the close of trading in London on Friday. Both oil majors have dragged the FTSE 100 to one-day losses not seen since [...]
Oil prices: FTSE energy stocks tumble after Opec coronavirus chaos March 9, 2020 FTSE 100-listed energy stocks have crumbled in early trading after Saudi Arabia initiated a price war that saw oil prices collapse today. Shell’s share price plummeted 21 per cent before trimming losses to stand down 14.8 per cent by 9.50am, while BP’s tumbled 17.3 per cent to 326.9p. Petrofac fell over 50 per cent to [...]
An open Shell: Oil major likely to miss production guidance new transparency push shows September 30, 2019 Royal Dutch Shell opened up its books ahead of its quarterly results for the first time today as shareholder pressure forced its hand towards more transparency. The oil major will start publishing a quarterly update, it said, ahead of its results. Read more: New Horizons: BP boss tasked with clearing up oil spill looks for [...]