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The Latest Breaking News from Wael Sawan

BP plans cost cutting alongside multi-billion payday for investors as profits miss forecasts

New CEO at FTSE 100 oil multinational points to $2 billion in ‘cash cost savings’

Evening Standard

Shell profits come in at £46,000 a minute as oil giant beats City forecasts

Energy multi-national faces wave of anger from campaign groups but defends its low-carbon spending plans

Evening Standard

Latest London take-out deal for Lok'nStore adds to valuation fears as overseas buyers circle stock market

How a cross-Channel swoop for a self storage firm is unlocking wider fears over the future of London’s stock market

Evening Standard

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Is Shell trying to kill the London stock market?

The biggest company on the market is threatening to leave. That is a different order of seriousness than seeing Flutter and CRH flee

The Guardian - UK

Shell CEO isn’t bluffing — if the London Stock Exchange doesn't improve, it'll lose its most valuable company

City Comment: It is hard to overstate just what a blow to London’s prestige the loss of Shell’s listing would represent

Evening Standard

Shell’s former chief fuels fears it could quit London for New York

Ben van Beurden says company is undervalued in UK and US investors are ‘more positive’ about fossil fuels

The Guardian - UK

Shell waters down emissions cut pledge despite crucial climate decade

Energy company now says it aims for 15-20% reduction by 2030, rather than previous target of 20%

The Guardian - UK

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Shell CEO paid £7.9 million for 2023

Attention from campaign groups focused on executive pay while City eyes outlook for dividends

Evening Standard

Shell Reports 2023 Profits of $28.25 Billion Amid Market Shifts

The company's shift towards trading more in liquefied natural gas (LNG) and increased production offset reduced earnings from refining and oil trading, along with higher operating costs.

International Business Times UK

Shell Profit Tumbles On Lower Oil Prices

Shell said Thursday that its net profit more than halved to $19.4 billion in 2023 on lower energy prices, after rocketing to a record peak the previous year following the Ukraine conflict.

International Business Times

Shell sues Greenpeace for $2.1m in damages over fossil fuel protest in North Sea

Energy firm’s lawsuit looks for indefinite block on group’s protesters targeting its infrastructure

The Guardian - UK

Shell takes axe to its eco-friendly business in profit push

The group is paring back its hydrogen operations, but said it was focused on lowering emissions.

Fortune

Shell boss set to cut jobs from low-carbon division

Wael Sawan ready to axe 200 roles from division as part of plan to grow profits

The Guardian - UK

Shell cuts hundreds of contractors amid 'ruthless' shake-up by new CEO

Wael Sawan has laid out plans for a 'ruthless focus on performance, discipline and simplification'

Evening Standard

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The Independent UK

Shell earnings top $5 billion. But that's nearly half what it pulled in months ago

Shell has reported that it earned nearly $5.1 billion in the second quarter

The Guardian - UK

Coutts CEO stands down in Farage bank account row, as Sunak fails to back NatWest chairman Davies – as it happened

Peter Flavel says Coutts fell below its ‘high standards’ in the handling of Nigel Farage’s case, while Rishi Sunak declined to say whether he had confidence in NatWest’s chairman

The Independent UK

Shell misses expectations as earnings halve

Adjusted earnings were just under 5.1bn US dollars (£3.9bn) in the three months to the end of June, down from 11.5bn dollars (£8.9bn) a year earlier.

The Guardian - UK

Do Shell chief’s claims about cutting oil output being dangerous stack up?

Wael Sawan accused of ‘gaslighting’ after saying cuts would worsen cost of living crisis and disadvantage poorer countries

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news in one place.

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The Independent UK

Shell CEO calls it 'irresponsible' to cut oil production now

The head of global energy giant Shell says it would be “irresponsible” to cut oil and gas production at a time when the world economy is still dependent on fossil fuels

The Guardian - UK

Shell boss under fire for saying cutting fossil fuel production is ‘dangerous’

Wael Sawan criticised by climate campaigners after comments defending continued reliance on oil and gas

Insider UK

Shell boss says cutting oil and gas production would be ‘dangerous’

Chief executive states the world still 'desperately needs' petrochemicals because renewables cannot yet replace them

Insider UK

Shell faces backlash for ‘destructive’ decision to abandon oil reduction plans

Plan to reduce oil production by up to 2% each year this decade dropped, with claim that oil field sell-offs mean target already reached

The Guardian - UK

Shell drops target to cut oil production as CEO aims for higher profits

Wael Sawan prioritises shareholder payouts, setting out plan to keep oil production steady until 2030

The Independent UK

Shell agrees to pay $10 million for air pollution at massive new Pennsylvania petrochemical plant

Shell has agreed to pay $10 million to resolve allegations that it polluted the air around its massive new petrochemical refinery in western Pennsylvania

The Independent UK

Climate change protesters try to storm the stage at tense Shell AGM

Shareholder revolt secures 20% of votes as activists shout about ‘climate criminals’

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