Shell has started to make hundreds of job cuts, with positions in its low-carbon solutions unit among the first to be eliminated, said people familiar with the matter.
The Shell appeal will be heard in The Netherlands beginning on April 2
Shell’s chief executive has said his firm will not “pretend to lead” on areas of the energy transition that it does not already have a foothold in.
Shell reported $11.2 billion in pre-tax profits for the third quarter, on the back of higher oil prices and refining margins - a figure level with the same period last year and more than double that of Q2 2023.
Shell is set to cull hundreds of jobs from its low-carbon business next year, amid a renewed focus on profitability from CEO Wael Sawan.
Shell shares hit a record high as rising energy prices and the new CEO’s stronger focus on the core oil and gas business attracted investors.
Shell (LON: SHEL) said its earnings from gas trading rebounded in the third quarter from the dip seen in the prior period.
“I’ll be unequivocal here, we are fundamentally leaning in to develop the energy system of the future and we will do it profitably.”
Shell (LON: SHEL) CEO Wael Sawan has come under pressure from within his own company urging him not to scale back renewables investment.
Six months after becoming the chief executive at Shell, Wael Sawan quietly ended the world’s biggest corporate plan to develop carbon offsets, the environmental projects designed to counteract the warming effects of CO2 emissions.
Supermajor Shell (LON: SHEL) is the latest oil and gas producer to see its profits diminish year-on-year after the heady heights of 2022.
The deliberations come as CEO Wael Sawan focuses the company’s investments on fossil fuels.
Shell chief executive Wael Sawan said it would be “dangerous and irresponsible” to cut oil and gas production as demand changes could cause further price spikes.
Big M&A is “definitely not on my priority list” for the next few years, Shell CEO Wael Sawan told journalists yesterday.
“We would simply let go of customers, we would stop selling,” chief executive Wael Sawan told journalists on Wednesday.
Shell (LON: SHEL) has decided to exit Pakistan in a setback for the South Asian nation that is going through its worst economic crisis.
Shell (LON: SHEL) is to adopt a a “ruthless” approach to “discipline and simplification” with a view to making the most of its existing portfolio.
Shell (LON: SHEL) executives are telling their renewable power business that it needs to become more profitable, not just deliver lower carbon emissions, and pull back from the less successful elements of its clean-energy strategy.
Shell’s new boss Wael Sawan said his team is working hard to earn investor trust in bid to help close what many see as a growing gulf in valuations between European and US oil majors.
Recently appointed Shell (LON: SHEL) chief executive, Wael Sawan, is bringing its low carbon and renewables energy roles under one management.
Shell (LON: SHEL) CEO Wael Sawan has warned that the US is more attractive for investment than the firm’s home base of the UK.
Sawan chose to cut the size of the executive committee in January, from nine members to seven.
Shell’s (LON: SHEL) top boss has made a plea for “stability” as calls for an escalation to the North Sea windfall tax continue to circle.
News of Shell (LON: SHEL) recording record annual profits could come back to bite the oil and gas giant, as well as its counterparts.