Shell will freeze salaries for most of its employees this year, according to people with knowledge of the matter, as it looks to save cash amid an overhaul of the company.
Ben Van Beurden
Shell has named the UK North Sea as one of nine “core positions” for its oil and gas business going forward, as it today revealed its net zero strategy.
Shell is "reviewing" further sales of assets in Nigeria, the company said.
Shell has launched a new “accelerated” strategy to get to net zero, and confirmed that oil production peaked for the company in 2019.
Shell’s boss said today that the recent “strong recovery” in oil prices meant the supermajor would have “room to spend” cash on upstream projects, including in the North Sea.
Shell recorded pre-tax losses of £19.8 billion during an “extraordinary” 2020 marked by the Covid-19 pandemic and lower commodities prices.
Shell has announced plans for between 7,000 – 9,000 job cuts from its global workforce by the end of 2022.
Shell has reiterated its “commitment” to the North Sea and West of Shetland, saying there is still “running room” in the region.
Shell CEO Ben van Beurden has said the energy giant will “resize as appropriate” as it moves to become a “simpler and leaner” organisation.
Shell has posted losses of $18.1billion (£14bn) for the second quarter of 2020 as oil, LNG and gas prices remain depressed.
Shell is looking “long and hard” at its organisation and portfolio as it works to emerge from Covid and move towards net zero, according to its UK boss.
Shell has warned it will take impairments of up to £17.8billon ahead of its second quarter results due to the impact of the Covid-19 pandemic.
Shell will announce a major restructuring by the end of the year, according to a news report, as the firm makes a shift for the 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.
A shareholder activist group has claimed a ‘big win’ after an increase in the number of investor votes urging Shell to meet its climate targets.
When the pandemic is all over will society go back to driving cars and hopping on planes with nary a worry as it did just two short months ago?
Shell’s boss has said the firm will “probably” have to reduce its headcount and “resize” parts of the organisation the longer the oil price slump lasts.
Shell chief executive Ben van Beurden’s total pay package was cut in half last year, but he still took home a whopping sum of almost £9 million.
The boss of energy giant Shell has said he sees “no reason” to change its investment plans for the North Sea, despite a number of climate protests against the UK oil and gas business.
Royal Dutch Shell CEO Ben van Beurden used his speech at the Oil & Money event in London to call for greater collaboration between industry sectors.
Climate activists halted an awards ceremony involving the chief executives of oil majors BP and Shell at a major industry conference last night.
Shell boss Ben van Beurden said today that the company was closely monitoring tensions in the Strait of Hormuz.
Shell CEO Ben van Beurden has been unveiled as part of a global commission to help global progress on energy efficiency.
Shell's boss said yesterday that the energy major will invest "billions of dollars" in the UK North Sea in the coming years.
Animal rights group Peta has called on energy giant Shell to go vegan for a day on its North Sea platforms.