Shell Q1 results: What to expect April 27, 2021 After BP today gave the market “all it could have asked for”, attention will now turn to rival oil giant Shell ahead of Thursday’s first quarter results. While the former firm came into the results trumpeting the fact that it would hit its debt reduction targets a year early, prompting the restart of share buybacks, [...]
Science Museum faces climate pressure after Shell revealed as ‘major sponsor’ April 16, 2021 The Science Museum has come under fire today as it revealed that Shell is a “major sponsor” of its flagship climate exhibition. The exhibition set for its reopening on 19 May, will focus on carbon capture and storage (CCS) technology, which Shell has said is “essential for society to reach the goals of the Paris [...]
Historic Texas freeze cost Shell £145m April 7, 2021 Oil giant Shell has said that a storm that blanketed Texas in February, killing more than 100 people, will cost it around $200m (£145m) in adjusted earnings. The London-listed company said it expects to produce between 2.4m and 2.48m barrels of oil or equivalents per day from its upstream business unit in the first three [...]
Shell suggests linking director’s pay with climate performance March 29, 2021 British-Dutch energy giant Shell has suggested linking its director’s pay with the groups’ climate performance today, as climate resolution edges to the top of industry discussion. The move would signal a shift in priorities in the energy sector, as directors currently receive bonuses that are tied to natural gas production volumes. Shareholders are set to vote [...]
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 [...]
Supreme Court rules that Nigerians can sue Shell over oil spills February 12, 2021 The Supreme Court has today ruled that a group of 42,500 Nigerians farmers and fishermen can sue oil giant Shell for numerous oil spills in the Niger Delta. Judges found that claimants could sue the firm for the activities of its Nigeria-based subsidiary. The local Ogale and Bille people alleged their lives and health have [...]
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 posts $21bn loss as coronavirus sends oil industry plunging into the red February 4, 2021 Shell this morning posted a $21.6bn (£15.9bn) full year loss as the full costs of the coronavirus were laid bare. The loss marked a massive swing to the red for the oil giant, which made a $15bn profit in 2019. However, speaking to reporters this morning chief executive Ben van Beurden promised a “much more [...]
Shell to buy electric vehicle charging firm Ubitricity January 25, 2021 Oil giant Shell has today announced that it will buy Ubitricity, the UK’s biggest electric vehicle charging network, for an undisclosed sum. The Berlin-founded firm currently owns 2,700 EV charging points in the UK, about 13 per cent of market share. The acquisition will allow Shell to expand its own charging network, which currently comprises [...]
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 [...]