Shell shares bubble up as oil giant increases investor returns July 7, 2021 Shares in Shell pushed up this morning as the oil giant said it would increase shareholder returns to 20-30 per cent of its cash flow, surprising analysts with the speed of the move. The stock rose 3.0 per cent in early trading, topping the FTSE 100 tree, on the back of the second quarter trading [...]
Shell to ‘quit California joint venture with ExxonMobil’ July 1, 2021 Shell is reportedly planning to quit its California-based joint venture with fellow oil supermajor ExxonMobil as it looks to accelerate its transition away from fossil fuels. Four sources told Reuters that the FTSE blue chip had informed Exxon that it intended to exit subsidairy Aera Energy, in which it holds a 52 per cent stake. [...]
Shell chief: We will ‘accelerate’ energy transition plans after court ruling June 9, 2021 Shell’s chief executive has today said that the oil behemoth will accelerate its plans to transition away from fossil fuels after a historic Dutch court ruling last month. In a landmark case, a court in the Hague ordered the Anglo-Dutch giant to slash greenhouse emissions by 45 per cent from 2019 levels by 2030, faster [...]
Legal & General Investment Management joins Shell’s shareholder rebellion May 24, 2021 One of London’s oldest fund managers, Legal & General Investment Management (LGIM), has been revealed to have joined the shareholder rebellion today against Shell’s climate strategy last week, according to reports. Saying that the energy giant’s plans lacked credibility and the ambition needed to tackle climate change, LGIM voted against Shell’s climate transition targets, the [...]
Shell’s shareholders vote for its climate strategy, despite growing support for its activist rival May 18, 2021 Energy giant Shell saw its shareholders overwhelmingly support the company’s energy transition strategy today, despite growing backing for a second climate resolution filed by an activist group. An advisory vote on its climate strategy, which meant it was a non-binding resolution, won 88.74 per cent shareholder support at its annual general meeting (AGM) today. The [...]
Shell hails ‘strong start’ and hikes dividend on higher oil prices April 29, 2021 Oil giant Shell this morning hailed a “strong start” to 2021 as the Anglo-Dutch firm recorded a massive increase in earnings on the back of higher oil prices. The FTSE blue-chip said that earnings rose to $3.2bn, up from $393m in the final quarter of 2020. As a result of the improvement in trading, Shell [...]
City fund managers discuss post-pandemic opportunities, with NatWest, Lloyds and BP topping the list April 28, 2021 As the economy slowly recovers from what has been a dramatic year, and investors gradually dare to think again about growth and investment, City A.M. checked in with a number of prominent Square Mile-based fund mangers to find out where they spot opportunities as London’s investment community starts to shake off the pandemic. Banking, energy [...]
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 [...]
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 [...]