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January 27th, 2023:

BP and Shell could be takeover targets if Exxon and Chevron snatch opportunity for ‘industry arbitrage’ – Citi

BP and Shell could be takeover targets if Exxon and Chevron snatch opportunity for ‘industry arbitrage’ – Citi

proactiveinvestors.co.uk

Jamie Ashcroft: Wed 25 Jan 2023

BP PLC (LSE:BP.) and Shell PLC (LSE:SHEL, NYSE:SHEL) may find themselves at the negotiating table as American peers Exxon Mobil Corporation (NYSE:XOM) or Chevron Corporation (NYSE:CVX) could come calling, that’s the view of analysts at Citigroup.

A megamerger between either London-listed oil major and either of America’s largest oilers appears increasingly attractive, on valuation terms at least, according to the Wall Street bank. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell Energy is the most complained about broadband firm again

telecoms.com

Shell Energy is the most complained about broadband firm again

Written by Andrew Wooden

Shell Energy continued to attract the most broadband and landline complaints to Ofcom in Q3 2022, while BT Mobile, Virgin Mobile and iD Mobile were the most complained-about mobile operators.

As it has for the last few quarters, Shell Energy has topped Ofcom’s rankings of complaints it received in the category of broadband and landline. Complaints were mainly around faults and service issues, while landline customers were chiefly unhappy with how complaints were handled. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Ofcom tells Shell Energy to ‘get a grip’ on broadband and landline complaints

Ofcom tells Shell Energy to ‘get a grip’ on broadband and landline complaints

UK News: Ofcom has urged Shell Energy to “get a grip” on broadband and landline complaints after the firm attracted significantly higher volumes than other providers.

BT Mobile, Virgin Mobile and iD Mobile are the most complained-about mobile operators, according to the regulator’s latest figures.

Ofcom said it is monitoring Shell’s performance closely.

The regulator said: “We have been engaging with the provider and urged it to get a grip on identifying and addressing the root causes of these issues.

“As always, should we identify specific concerns with how our rules are being followed, we will consider whether it is appropriate to take formal action.”

Virgin Media continued to generate the most pay TV complaints, Ofcom said.

Overall, the volume of complaints between July and September were broadly in line with the previous three months.

Sky had the fewest pay TV and broadband complaints, while EE joined Sky as the least complained-about landline providers. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell puts 2,000 UK jobs at risk with review of Shell Energy retail division

The Guardian

Shell puts 2,000 UK jobs at risk with review of Shell Energy retail division

Alex Lawson Energy Correspondent: Thu 26 Jan 2023

Shell has put more than 2,000 jobs in the UK at risk after launching a “strategic review” of its domestic energy and telecoms supply division.

The oil and gas supermajor said on Thursday that it had told staff in Shell Energy, which has operations in the UK, the Netherlands and Germany, that it has begun analysis of future options for the business, which could include exiting the sectors.

The UK business, which is headquartered just outside Coventry, has 1.4 million energy customers and about 500,000 broadband users.

The company said it had made the decision against the backdrop of a strategy which includes “continually exploring options to maximise the value of our portfolio and address performance in tough market conditions”.

First Utility and rebranding the business to Shell Energy Retail the following year. It took over the Post Office’s broadband customers in 2021 and now offers broadband at varying speeds across three tariffs. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell Wants To Bail On Energy Retail Businesses Due To “Tough Market Conditions”

OILPRICE.COM

Shell Wants To Bail On Energy Retail Businesses Due To “Tough Market Conditions”

Shell is looking to bail on its energy retail business across multiple countries amid “tough market conditions,” the company said on Thursday.

The tough market conditions likely refer to higher wholesale prices across Europe that have plagued many retailers, as well as price-capping measures instituted by governments to keep consumers from having to pay exorbitant energy bills.

Shell said on Thursday that it had commenced a review of its retail business in Britain, Norway, and Germany and that the process could take months.

Of the three businesses, Shell’s retail operations in the UK, Shell Energy Retail, is the biggest, boasting 1.4 million customers.

But while it has pegged its European retail arms to stand before the firing squad, Shell’s 2022 annual profit is expected to come in at more than $30 billion, Reuters said, as high oil and gas prices have helped the business improve its overall performance.

Shell sunk $1.5 billion in cash and credit into its British energy retail business last year in order to help with volatile prices and the tough market conditions in the retail segment as natural gas supplies ran short. While Shell managed to survive the last couple of years, other British retailers such as Bulb declared bankruptcy after multiple British power suppliers failed to hedge their future costs back when the getting was good. The cost to taxpayers—billions. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell considering selling UK energy supply business

The Telegraph

Shell considering selling UK energy supply business

Shell is considering selling its UK energy supply business after injecting £1.2bn into the loss-making division to help it cope with rocketing gas and electricity prices.

The company on Thursday said it had launched a strategic review of the business, which supplies 1.4m British households and also operates in the Netherlands and Germany.

It raises the prospect of the unit being sold just six years after Shell first moved into the UK household supply sector. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Job risk as Shell considers quitting energy market

BBC NEWS: Job risk as Shell considers quitting energy market

BBC NEWS 27 JAN 2023

Up to 2,000 UK jobs are at risk at Shell Energy after it announced it was considering quitting the energy sector.

The firm said it was conducting a “strategic review” to its operations in the UK, Netherlands and Germany amid “tough market conditions”.

The Coventry-based company provides energy to 1.4 million homes in the UK and broadband to around 500,000 people.

A spokesperson said: “No decisions have yet been taken on the way forward” and added the review could take months. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell plans strategic review of energy supply business which employs 2,000 in UK

Shell plans strategic review of energy supply business which employs 2,000 in UK

 

Oil giant Shell has raised questions about the future of its energy supply business which employs thousands of people in the UK as companies continue to struggle in a tough market.

Shell said it will launch a “strategic review” of Shell Energy, including its operations in the UK, the Netherlands and Germany.

Launched in 2008 as First Utility and bought a decade later by the oil major, Shell Energy employs around 2,000 people in the UK.

It supplies energy to around 1.4 million homes across the country and broadband to around half a million customers.

It was not clear what options are being looked at by Shell for the unit. Companies who put their business units up for review often sell or restructure them, but sometimes keep them unchanged.

“No decisions have yet been taken on the way forward and our priority remains to ensure our customers in those countries continue to receive a reliable and affordable energy supply, and to provide support for customers who are struggling with the cost of energy and wider cost-of-living pressures,” Shell said on Thursday. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell to Review Household Energy Businesses in UK, Netherlands, Germany

Shell to Review Household Energy Businesses in UK, Netherlands, Germany

By Elena Vardon

Shell PLC on Thursday said it is starting a strategic review of its home energy retail business in the U.K., the Netherlands and Germany, but stressed that no decisions have yet been made.

The London-based energy giant said that the review is likely to take a number of months, adding that the wholesale and B2B energy supply businesses aren’t part of this review.

It didn’t say whether any jobs would be affected by the decision, but confirmed that Shell Energy Retail Ltd. currently employs around 2,000 people.

Shell said that the review is part of its ‘power progress’ strategy which includes exploring options to address performance in tough market conditions and maximize the value of its portfolio.

The company’s priority remains to ensure customers in those countries continue to receive their energy supply, and to provide support for those who are struggling with the cost of energy and wider cost-of-living pressures, it said. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.