Shell Will Evaluate British Energy Investments after Windfall Tax Brings Total Taxes to 75%

Shell, Europe’s largest oil company on Monday said it will “evaluate” its plan to spend as much as £25B on its U.K. operations over the next decade in response to British government’s decision to increase a windfall tax on oil and gas producers, David Bunch, chairman of the company’s U.K. business said. The tax, known as the Energy Profits Levy (EPL), will raise the total taxes on the energy sector to 75%, among the highest in the world. It nevertheless … Continue reading “Shell Will Evaluate British Energy Investments after Windfall Tax Brings Total Taxes to 75%”

Shell 3Q Earnings $9.45 billion, Lower on Refining and Trading Revenues

Shell, Europe’s largest oil company reported stronger than expected third quarter results Thursday that fell 18% to $9.45 billion for the period, beating market expectations of $9.0 billion but down from $11.47 billion the prior quarter. $SHEL cited lower trading and margins and higher expenses. The oil major announced a $4 billion share-buyback program and kept its quarterly dividend upping shareholder returns. The company’s decision to keep its quarterly dividend unchanged at 25 cents a share disappointing some investors. Shell … Continue reading “Shell 3Q Earnings $9.45 billion, Lower on Refining and Trading Revenues”

Shell Records Second Consecutive Record Quarterly Profit as Energy Prices Surged

Shell, Europe’s largest oil company reported stronger than expected second quarter results Thursday with $11.5 billion second-quarter profit smashing the mark it set only last quarter. Surging natural gas and oil prices and refining margins that roughly tripled in the second quarter, to $28 per barrel, the company said. The Oil Major reversed $4.3 billion in impairments it took early in the Covid-19 pandemic. Shell shares rose 1.8% in morning trading in London. The company’s decision to keep its quarterly … Continue reading “Shell Records Second Consecutive Record Quarterly Profit as Energy Prices Surged”

Shell Earnings Hit By Chemical Margins and Intergrated Gas Prices

Royal Dutch Shell, Europe’s largest oil company reported weaker than expected second quarter results Thursday. $RDS.A fell near 5%, their biggest one-day fall since January 2016. Shell’s integrated gas division performed the worst, earnings down 25% year on year.

CERAWeek 2018 Key Events For Energy Traders

The geopolitical nature and globalization of energy makes the IHS Markit hosted CERAWeek one of the world’s premier energy events. The significant players from the world over will be in attendance In Houston March 5 to the 9th, 2018. Speakers include Saudi Aramaco, BP, Shell CEOs and politicians like OPEC Secretary General Mohammed Barkindo.