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...One option includes turning it into a cash-shell company that pursues acquisitions in new industries, the 63-year-old billionaire told the Financial Times in a rare interview....
...In recent months, Shell has also become embroiled in a dispute with US-based Venture Global LNG, alleging the company is refusing to honour a multibillion-dollar supply contract....
...Part of the problem involves its chemicals unit. Shell thinks that its chemicals margin, a measure of profitability, will go up in the final quarter from the last period....
...Shell’s $54.2bn in cash flow from operations was the second highest in the company’s history....
...Darren Woods received salary, stock options and a bonus amounting to $36.9mn in 2023, the US’s biggest oil company reported in a securities filing on Thursday....
...Sawan also said that the company “strongly, strongly believed” in liquified natural gas. The company expects 50 per cent growth in the global supply of the chilled fuel by 2040....
...Shell is London’s most valuable listed company and its potential exit would set off alarm bells in the UK....
...The valuation gap between US and European oil groups is a “major issue” making it more likely that companies will consider moving their listings to New York, said former Shell chief executive Ben van Beurden...
...Ben van Beurden, who oversaw Shell’s move from The Hague to London in 2022 and the removal of its dual-class share structure, said the company’s board had previously decided that a move to the US was “a...
...Shell’s former chief executive, Ben van Beurden, told a Financial Times conference this week that the company — the biggest publicly listed group in the UK — was “massively undervalued” in London and may...
...Shell said the sale was part of the company’s strategy to cut down its global refining portfolio and focus on large sites integrated with its chemicals and trading businesses....
...While conventional energy companies such as Shell are focused on changing how energy is supplied, KKR could also invest in areas including vehicle electrification, hydrogen consumption and battery systems...
...It would risk Shell having to sell parts of its business to companies that may produce or sell the fuels in even more carbon-intensive ways, it says....
...The chemicals industry, which sits at the start of a vast number of companies’ supply chains, is seen as a bellwether for industrial production, adding to concern among German politicians and executives...
...Sawan said he hoped the court would take note of the progress Shell had already made, but reiterated the company’s view that it could not reduce its emissions faster than society....
...Thousands of US lawsuits targeting major chemical companies have been filed and agencies globally are tightening regulation....
...Adnoc declined to comment.At the heart of the matter is the complexity of the transaction and the cross-shareholdings between the companies’ chemicals arms....
...Europe’s largest oil and gas company said on Thursday that adjusted earnings were $28.3bn, down about a third from the record set in 2022 but higher than any other year since 2011....
...The oil company Shell has been on trial repeatedly in recent years — in court, in the theatre and now on the opera stage....
...The company said on Friday that it expected 2023 free cash flow of €2.7bn. This would not cover consensus expectations for a dividend payout of €3bn, as compiled by Visible Alpha....
...The company added that LNG continued to play a “vital role” in Europe’s energy security last year, with imports remaining at similar levels to the record highs in 2022 following Russia’s war in Ukraine,...
...Demand for ammunition has soared with Ukraine consuming shells at high rates in its war against Russia....
...It may well sell down its stake to an international oil company. Candidates include Shell, Total and Chevron, which are all drilling, or planning to drill, in the same Orange oil basin....
...While it isn’t the only public company that has struggled to file its annual report on time this year, it also faces a decent amount of PFAS (or “forever chemicals”) litigation on top of everything else....
...These are largely, but not exclusively, a legacy of its $63bn acquisition of US crops company Monsanto in 2016....
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