Shell was formed in April 1907 through themerger ofRoyal Dutch Petroleum Company of the Netherlands andThe "Shell" Transport and Trading Company of the United Kingdom. The combined company rapidly became the leading competitor of the AmericanStandard Oil and by 1920 Shell was the largest producer of oil in the world.[7] Shell first entered the chemicals industry in 1929. Shell was one of the "Seven Sisters" which dominated the global petroleum industry from the mid-1940s to the mid-1970s. In 1964, Shell was a partner in the world's first commercial sea transportation ofliquefied natural gas (LNG).[8] In 1970, Shell acquired the mining companyBilliton, which it subsequently sold in 1994 and now forms part ofBHP. In recent decades gas has become an increasingly important part of Shell's business[9] and Shell acquiredBG Group in 2016.[9]
Shell is a constituent of theFTSE 100 Index and had amarket capitalisation of US$199 billion on 15 September 2022, the largest of any company listed on the LSE and the 44th-largest of any company in the world.[17] In terms of the revenue, Shell generated $284B in 2024, a significant decline over a decade, from $451B in 2013.[18]
The oil well atPangkalan Brandan,North Sumatra, is considered to be the origin of the Royal Dutch Shell, c. 1905Shell benzine for Sir Ernest Henry Shackleton, Antarctic Expedition 1915Royal Dutch Petroleum dock in theDutch East Indies (nowIndonesia), c. 1925
The Royal Dutch Shell Group was created in April 1907 through the amalgamation of two rival companies: the Royal Dutch Petroleum Company (Dutch:Koninklijke Nederlandse Petroleum Maatschappij) of the Netherlands and The "Shell" Transport and Trading Company Limited of the United Kingdom.[19] It was a move largely driven by the need to compete globally withStandard Oil.[20] The Royal Dutch Petroleum Company was a Dutch company founded in 1890 to develop an oilfield inPangkalan Brandan,North Sumatra,[21] and initially led byAugust Kessler, Hugo Loudon, andHenri Deterding. The "Shell" Transport and Trading Company (the quotation marks were part of the legal name) was aBritish company, founded in 1897 byMarcus Samuel, 1st Viscount Bearsted, and his brotherSamuel Samuel.[22] Their father had owned an antique company inHoundsditch, London,[23] which expanded in 1833 to import and sell seashells, after which the company "Shell" took its name.[19][24][25]
For various reasons, the new firm operated as adual-listed company, whereby the merging companies maintained their legal existence but operated as a single-unit partnership for business purposes. The terms of the merger gave 60 percent stock ownership of the new group to Royal Dutch, and 40 percent to Shell. Both becameholding companies forBataafsche Petroleum Maatschappij, containing the production and refining assets, and Anglo-Saxon Petroleum Company, containing the transport and storage assets.[26] National patriotic sensibilities would not permit a full-scale merger or takeover of either of the two companies.[26] The Dutch company,Koninklijke Nederlandsche Petroleum Maatschappij atThe Hague, was in charge of production and manufacture.[27] The BritishAnglo-Saxon Petroleum Company was based in London, to direct the transport and storage of the products.[27][25]
TheGerman invasion of Romania in 1916 saw 17% of the group's worldwide production destroyed.[29] In 1919, Shell took control of theMexican Eagle Petroleum Company and in 1921 formed Shell-Mex Limited, which marketed products under the "Shell" and "Eagle" brands in the United Kingdom. During theGenoa Conference of 1922 Royal Dutch Shell was in negotiations for a monopoly over Soviet oilfields inBaku andGrosny, although the leak of a draft treaty led to breakdown of the talks.[30] In 1929,Shell Chemicals was founded.[29] By the end of the 1920s, Shell was the world's leading oil company, producing 11 percent of the world'scrude oil supply and owning 10 percent of its tanker tonnage.[29]
1932 Shell advertisement poster by the British surrealist painterPaul Nash
Located in the north bank of theRiver Thames in London,Shell Mex House was completed in 1931, and was the head office for Shell's marketing activity worldwide.[29] In 1932, partly in response to the difficult economic conditions of theGreat Depression, Shell-Mex merged its UK marketing operations with those ofBP (British Petroleum) to createShell-Mex & BP,[32] a company that traded until the brands separated in 1975. Royal Dutch Company ranked 79th among United States corporations in the value ofWorld War II military production contracts.[33]
In 1937,Iraq Petroleum Company (IPC), 23.75 percent owned by Royal Dutch Shell plc,[35] signed an oil concession agreement with theSultan of Muscat. In 1952, IPC offered financial support to raise an armed force that would assist the Sultan in occupying the interior region ofOman, an area that geologists believed to be rich in oil. This led to the 1954 outbreak of theJebel Akhdar War in Oman that lasted for more than 5 years.[36]
Around 1952, Shell was the first company to purchase and use a computer in the Netherlands.[37] The computer, aFerranti Mark 1*, was assembled and used at the Shell laboratory in Amsterdam. In 1970, Shell acquired the mining companyBilliton, which it subsequently sold in 1994.[38]
In 1989, Shell redesigned a $3-billion natural gas platform in theNorth Sea, raising its height one to two meters, to accommodate an anticipatedsea level rise due toglobal warming.[39]
In the 1990s, protesters criticised the company's environmental record, particularly the possible pollution caused by the proposed disposal of theBrent Spar platform into the North Sea. Despite support from the UK government, Shell reversed the decision under public pressure but maintained that sinking the platform would have been environmentally better.[40] Shell subsequently published an unequivocal commitment tosustainable development, supported by executive speeches reinforcing this commitment.[41] Shell was subsequently criticised by theEuropean Commission and five European Union members after deciding to leave part of its decommissioned oil rigs standing in the North Sea. Shell argued that removing them would be too costly and risky. Germany said that the estimated 11,000 tonnes of raw oil and toxins remaining in the rigs would eventually seep into the sea, and called it a 'ticking timebomb'.[42]
On 15 January 1999, off theArgentinian town ofMagdalena, Buenos Aires, the Shell tankerEstrella pampeana collided with a Germancargo ship, emptying its contents into the lake, polluting the environment, drinkable water, plants and animals. Over a decade after the spill, a referendum held in Magdalena determined the acceptance of a US$9.5 million compensatory payout from Shell.[43] Shell denied responsibility for the spill, but an Argentine court ruled in 2002 that the corporation was responsible.[44]
In 2002, Shell acquiredPennzoil-Quaker State through its American division for US$22 per share, or about US$1.8 billion. Through its acquisition of Pennzoil, Shell became adescendant of Standard Oil. With its acquisition, Shell inherited multiple auto part brands includingJiffy Lube,Rain-X, andFix-a-Flat. The company was notably late in its acquisition as seen by journalists, with Shell seen as streamlining its assets around the same time of other major mergers and acquisitions in the industry, such asBP's purchase ofAmoco and the merger ofExxon andMobil.[45]
Shell Gas Station at Gaya Street Sunday Market,Kota Kinabalu
In 2004, Shell overstated its oil reserves, resulting in loss of confidence in the group, a £17 million fine by theFinancial Services Authority and the departure of the chairmanPhilip Watts. A lawsuit resulted in the payment of $450 million to non-American shareholders in 2007.[46][47][48]
As a result of the scandal, the corporate structure was simplified. Two classes of ordinary shares, A (code RDSA) and B (code RDSB), identical but for the tax treatment of dividends, were issued for the company.[49]
Shell filling station in the UK, 2006
In November 2004, following a period of turmoil caused by the revelation that Shell had been overstating itsoil reserves, it was announced that the Shell Group would move to a single capital structure, creating a new parent company to be named Royal Dutch Shell plc, with its primary listing on the LSE, a secondary listing onEuronext Amsterdam, its headquarters and tax residency inThe Hague, Netherlands and its registered office in London. The company was already incorporated in 2002 asForthdeal Limited, ashelf corporation incorporated by Swift Incorporations Limited and Instant Companies Limited, both based in Bristol.[50] The unification was completed on 20 July 2005 and the original owners delisted their companies from the respective exchanges. On 20 July 2005, The "Shell" Transport and Trading Company plc was delisted from the LSE,[51] changing its name to The Shell Transport and Trading Company Limited[52] whereas Royal Dutch Petroleum Company was delisted from theNew York Stock Exchange on 18 November 2005.[53] The shares of the company were issued at a 60/40 advantage for the shareholders of Royal Dutch in line with the original ownership of the Shell Group.[54]
During the2009 Iraqi oil services contracts tender, a consortium led by Shell (45%) and which includedPetronas (30%) was awarded a production contract for the "Majnoon field" in the south of Iraq, which contains an estimated 12.6 billion barrels (2.00×109 m3) of oil.[55][56] The "West Qurna 1 field" production contract was awarded to a consortium led byExxonMobil (60%) and included Shell (15%).[57]
In February 2010, Shell andCosan formed a 50:50 joint-venture,Raízen, comprising all of Cosan's Brazilian ethanol, energy generation, fuel distribution and sugar activities, and all of Shell's Brazilian retail fuel and aviation distribution businesses.[58] In March 2010, Shell announced the sale of some of its assets, including its liquefied petroleum gas (LPG) business, to meet the cost of a planned $28bn capital spending programme. Shell invited buyers to submit indicative bids, due by 22 March, with a plan to raise $2–3bn from the sale.[59] In June 2010, Shell agreed to acquire all the business ofEast Resources for a cash consideration of $4.7 billion. The transaction included East Resources' tight gas fields.[60]
Over the course of 2013, the corporation began the sale of itsUS shale gas assets and canceled a US$20 billion gas project that was to be constructed in the US state ofLouisiana. A new CEOBen van Beurden was appointed in January 2014, prior to the announcement that the corporation's overall performance in 2013 was 38 percent lower than in 2012—the value of Shell's shares fell by 3 percent as a result.[61] Following the sale of the majority of its Australian assets in February 2014, the corporation plans to sell a further US$15 billion worth of assets in the period leading up to 2015, with deals announced in Australia, Brazil and Italy.[62]
Shell announced on 8 April 2015 it had agreed to buyBG Group for £47 billion (US$70 billion), subject to shareholder and regulatory approval.[63] The acquisition was completed in February 2016, resulting in Shell surpassingChevron Corporation and becoming the world's second largest non-state oil company.[64]
On 7 June 2016, Shell announced that it would build anethane cracker plant nearPittsburgh, Pennsylvania, after spending several years doing an environmental cleanup of the proposed plant's site.[65]
In January 2017, Shell agreed to sell £2.46bn worth ofNorth Sea assets to oil exploration firm Chrysaor.[66] In 2017, Shell sold itsoil sands assets toCanadian Natural Resources in exchange of approximately 8.8% stake in that company. In May 2017, it was reported that Shell plans to sell its shares in Canadian Natural Resources fully exiting the oil sands business.[67]
On 5 November 2017, theParadise Papers, a set of confidentialelectronic documents relating tooffshore investment, revealed that Argentine Energy MinisterJuan José Aranguren was revealed to have managed theoffshore companies 'Shell Western Supply and Trading Limited' and 'Sol Antilles y Guianas Limited', both subsidiaries of Shell. One is the main bidder for the purchase of diesel oil by the government through the state ownedCAMMESA (Compañía Administradora del Mercado Mayorista Eléctrico).[68]
On 30 April 2020, Shell announced that it would cut itsdividend for the first time since theSecond World War, due to theoil price collapse following the reduction in oil demand during theCOVID-19 pandemic. Shell stated that their net income adjusted for the cost of supply dropped to US$2.9 billion in three months to 31 March. This compared with US$5.3 billion in the same period the previous year.[69] On 30 September 2020, the company said that it would cut up to 9,000 jobs as a result of the economic effects caused by the pandemic and announced a "broad restructuring".[70] In December 2020, Shell forecast another write-down of $3.5–4.5 billion for the fourth quarter due to lower oil prices, following $16.8 billion of impairment in the second quarter.[71]
In February 2021, Shell announced a loss of $21.7 billion in 2020 due to the COVID-19 pandemic,[72] despite reducing its operating expenses by 12%, or $4.5 billion, according to aMorningstar analysis cited byBarron's.[73][74]
In November 2021, Shell announced that it is planning to relocate their headquarters to London, abandon its dual share structure, and change its name from Royal Dutch Shell plc to Shell plc.[75] The company's name change was registered in theCompanies House on 21 January 2022.[50]
In December 2021, Shell pulled out of theCambo oil field, off the Shetland Islands, claiming that "the economic case for investment in this project is not strong enough at this time, as well as having the potential for delays". The proposed oilfield had been the subject of intense campaigning by environmentalists in the run-up to the COP26 UN climate summit in Glasgow in November 2021.[76]
On 4 March 2022, during theRussian invasion of Ukraine and in the midst of the growingboycott of Russian economy and related divestments, Shell bought a cargo of discounted Russian crude oil.[77] The next day, following criticism from Ukraine's Foreign MinisterDmytro Kuleba, Shell defended the purchase as a short term necessity, but also announced that it intended to reduce such purchases, and it would put profits from any Russian oil it purchases into a fund that would go towards humanitarian aid to Ukraine.[78] On 8 March, Shell announced that it would stop buying Russian oil and gas and close its service stations in the country.[79]
In 2022, the major oil and gas companies, including Shell,[80] reported sharp rises in interim revenues and profits.[81] In fact, this rise in profit for Shell was so sharp, that 2022 was the company's best year, as Shell recorded double the profits from 2021, and the highest profit in its entire history.[82]
In November 2024, Shell won a case in the Hague court of appeal againstFriends of the Earth which would have required Shell to cut its carbon emissions by 45%, in line with theParis Climate Accords.[83]
On 4 August 2005, the board of directors announced the appointment ofJorma Ollila, chairman and CEO ofNokia at the time, to succeed Aad Jacobs as the company's non-executive chairman on 1 June 2006. Ollila is the first Shell chairman to be neither Dutch nor British. Other non-executive directors includeMaarten van den Bergh,Wim Kok, Nina Henderson,Lord Kerr, Adelbert van Roxe, and Christine Morin-Postel.[87]
Since 3 January 2014,Ben van Beurden has been CEO of Shell.[61] His predecessor wasPeter Voser who became CEO of Shell on 1 July 2009.[88]
Following a career at the corporation, in locations such as Australia and Africa, Ann Pickard was appointed as the executive vice president of the Arctic at Royal Dutch Shell, a role that was publicized in an interview withMcKinsey & Company in June 2014.[89]
In January 2023,Wael Sawan succeeded Ben van Beurden as CEO.[90]
The name Shell is linked to The "Shell" Transport and Trading Company.[91] In 1833, the founder's father, Marcus Samuel Sr., founded an import business to sellseashells to London collectors. When collecting seashellspecimens in theCaspian Sea area in 1892, the younger Samuel realised there was potential in exportinglamp oil from the region and commissioned the world's first purpose-builtoil tanker, theMurex (Latin for a type ofsnail shell), to enter this market; by 1907 the company had a fleet. Although for several decades the company had a refinery atShell Haven on the Thames, there is no evidence of this having provided the name.[92]
The Shell logo is one of the most familiar commercial symbols in the world. This logo is known as the "pecten" after the sea shellPecten maximus (the giantscallop), on which its design is based. The yellow and red colours used are thought[93] to relate to the colours of theflag of Spain, as Shell built early service stations in California, previously aSpanish colony. The current revision of the logo was designed byRaymond Loewy in 1971.[94]
The slash was removed from the name "Royal Dutch/Shell" in 2005, concurrent with moves to merge the two legally separate companies (Royal Dutch and Shell) to the single legal entity which exists today.[95]
On 15 November 2021, Royal Dutch Shell plc announced plans to change its name to Shell plc.[96]
Shell is organised into four major business groupings:[98]
Upstream – manages the upstream business. It searches for and recoverscrude oil and natural gas and operates the upstream and midstream infrastructure necessary to deliver oil and gas to the market. Its activities are organised primarily within geographic units, although there are some activities that are managed across the business or provided through support units.
Integrated Gas and New Energies – manages toliquefy natural gas, converting gas to liquids and low-carbon opportunities.
Downstream – manages Shell's manufacturing, distribution, and marketing activities for oil products and chemicals. Manufacturing and supply include refinery, supply, and shipping of crude oil.
Projects and technology – manages the delivery of Shell's major projects, provides technical services and technology capability covering both upstream and downstream activities. It is also responsible for providing functional leadership across Shell in the areas of health, safety and environment, and contracting and procurement.
Europe's largest refinery, Shell Pernis, inRotterdam, 2019Filling station inArgos, Peloponnese owned by Shell. Shell and local subsidiaries own and operate thousands of filling stations worldwide.
Shell's primary business is the management of avertically integrated oil company. The development of technical and commercial expertise in all stages of this vertical integration, from the initial search for oil (exploration) through its harvesting (production), transportation,refining and finally trading and marketing established the core competencies on which the company was founded. Similar competencies were required for natural gas, which has become one of the most important businesses in which Shell is involved, and which contributes a significant proportion of the company's profits. While the vertically integrated business model provided significanteconomies of scale andbarriers to entry, each business now seeks to be a self-supporting unit without subsidies from other parts of the company.[99]
Traditionally, Shell was a heavily decentralised business worldwide (especially in the downstream) with companies in over 100 countries, each of which operated with a high degree of independence. The upstream tended to be far more centralised with much of the technical and financial direction coming from the central offices inThe Hague. The upstream oil sector is also commonly known as the "exploration and production" sector.[100]
Downstream operations, which now also includes the chemicals business, generate the majority of Shell's profits worldwide and is known for its global network of more than 40,000petrol stations and its variousoil refineries. The downstream business, which in some countries also includedoil refining, generally included a retailpetrol station network, lubricants manufacture and marketing, industrial fuel and lubricants sales, and a host of other product/market sectors such asLPG andbitumen. The practice in Shell was that these businesses were essentially local and that they were best managed by local "operating companies" – often with middle and senior management reinforced byexpatriates.[101]
Following the purchase of an offshore lease in 2005, Shell initiated its US$4.5 billionArctic drilling program in 2006, after the corporation purchased the "Kulluk" oil rig and leased the Noble Discoverer drillship.[102][103] At inception, the project was led by Pete Slaiby, a Shell executive who had previously worked in theNorth Sea.[104] However, after the purchase of a second offshore lease in 2008, Shell only commenced drilling work in 2012, due to the refurbishment of rigs, permit delays from the relevant authorities and lawsuits.[105][106][107] The plans to drill in the Arctic led to protests from environmental groups, particularlyGreenpeace; furthermore, analysts in the energy field, as well as related industries, also expressed skepticism due to perceptions that drilling in the region is "too dangerous because of harsh conditions and remote locations".[107][108]
Further problems hampered the Arctic project after the commencement of drilling in 2012, as Shell dealt with a series of issues that involved air permits,Coast Guard certification of a marine vessel, and severe damage to essential oil-spill equipment. Additionally, difficult weather conditions resulted in the delay of drilling during mid-2012 and the already dire situation was exacerbated by the "Kulluk" incident at the end of the year. Shell had invested nearly US$5 billion by this stage of the project.[104][107]
As theKulluk oil rig was being towed to the American state ofWashington to be serviced in preparation for the 2013 drilling season, a winter storm on 27 December 2012 caused the towing crews, as well as the rescue service, to lose control of the rig. As of 1 January 2013, the Kulluk was grounded off the coastSitkalidak Island, near the eastern end ofKodiak Island. Following the accident, aFortune magazine contacted Larry McKinney, the executive director at the Harte Research Institute for Gulf of Mexico Studies atTexas A&M, and he explained that "A two-month delay in the Arctic is not a two-month delay ... A two-month delay could wipe out the entire drilling season".[104]
It was unclear if Shell would recommence drilling in mid-2013, following the "Kulluk" incident, and, in February 2013, the corporation stated that it would "pause" its closely watched drilling project off theAlaskan coast in 2013, and will instead prepare for future exploration.[109] In January 2014, the corporation announced the extension of the suspension of its drilling program in the Arctic, with chief executive van Beurden explaining that the project is "under review" due to both market and internal issues.[110]
A June 2014 interview with Pickard indicated that, following a forensic analysis of the problems encountered in 2012, Shell will continue with the project and Pickard stated that she perceives the future of the corporation activity in the Arctic region as a long-term "marathon".[89] Pickard stated that the forensic "look back" revealed "there was an on/off switch" and further explained:
In other words, don't spend the money unless you're sure you're going to have the legal environment to go forward. Don't spend the money unless you're sure you're going to have the permit. No, I can't tell you that I'm going to have that permit until June, but we need to plan like we're going to have that permit in June. And so probably the biggest lesson is to make sure we could smooth out the on/off switches wherever we could and take control of our own destiny.[89]
Based upon the interview with Pickard, Shell is approaching the project as an investment that will reap energy resources with a lifespan of around 30 years.[89]
According to theBureau of Ocean Energy Management report in 2015 the chances of a major spill in a deep-sea Arctic drilling is 75% before century's end.[111]
In 2010, Greenpeace activists painted "No Arctic Drilling" using spilledBP oil on the side of a ship in theGulf of Mexico that was en route to explore forArctic oil for Shell. At the protest,Phil Radford of Greenpeace called for "President Obama [to] ban all offshore oil drilling and call for an end to the use of oil in our cars by 2030".[108]
On 16 March 2012, 52 Greenpeace activists from five different countries boardedFennica andNordica, multipurposeicebreakers chartered to support Shell's drilling rigs near Alaska.[112] Around the same time period, a reporter forFortune magazine spoke withEdward Itta, anInupiat leader and the former mayor of theNorth Slope Borough, who expressed that he was conflicted about Shell's plans in the Arctic, as he was concerned that an oil spill could destroy the Inupiat peoples hunting-and-fishing culture, but his borough also received major tax revenue from oil and gas production; additionally, further revenue from energy activity was considered crucial to the future of the living standard in Itta's community.[104]
In July 2012, Greenpeace activists shut down 53 Shell petrol stations inEdinburgh and London in a protest against the company's plans to drill for oil in the Arctic. Greenpeace's "Save the Arctic" campaign aims to prevent oil drilling andindustrial fishing in the Arctic by declaring the uninhabited area around the North Pole a global sanctuary.[113]
A review was announced after theKulluk oil rig ran aground near Kodiak Island in December 2012.[114]
In response, Shell filed lawsuits to seek injunctions from possible protests, andBenjamin Jealous of theNAACP and Radford argued that the legal action was "trampling Americans' rights".[115] According to Greenpeace, Shell lodged a request with Google to take down video footage of a Greenpeace protest action that occurred at the Shell-sponsoredFormula One (F1) Belgian Grand Prix on 25 August 2013, in which "SaveTheArctic.org" banners appear at the winners' podium ceremony. In the video, the banners rise up automatically—activists controlled their appearance with the use of four radio car antennas—revealing the website URL, alongside an image that consists of half of a polar bear's head and half of the Shell logo.[116]
Shell then announced a "pause" in the timeline of the project in early 2013[109] and, in September 2015, the corporation announced the extension of the suspension of its drilling program in the Arctic.[117]
A June 2014 interview with the corporation's new executive vice president of the Arctic indicated that Shell will continue with its activity in the region.[89][110]
On 6 May 2015, it was reported that during a coast guard inspection ofPolar Pioneer, a piece of anti-pollution gear failed, resulting in fines and delay of the operation.[120] Oil executives from Total and Eni interviewed by theNew York Times, expressed scepticism about Shell's new ambitions for offshore drilling in the Arctic, and cited economic and environmental hurdles.ConocoPhillips andEquinor (formerly Statoil) suspended Arctic drilling earlier, after Shell's failed attempt in 2012.[121]
On 20 May 2011, Shell's final investment decision for the world's firstfloating liquefied natural gas (FLNG) facility was finalized following the discovery of the remote offshore Prelude field—located off Australia's northwestern coast and estimated to contain about 3 trillion cubic feet of natural gas equivalent reserves—in 2007. FLNG technology is based on liquefied natural gas (LNG) developments that were pioneered in the mid-20th century and facilitates the exploitation of untapped natural gas reserves located in remote areas, often too small to extract any other way.[122][123]
Thefloating vessel to be used for the Prelude field, known asPrelude FLNG, is promoted as the longest floating structure in the world and will take in the equivalent of 110,000 barrels of oil per day in natural gas—at a location 200 km (125 miles) off the coast ofWestern Australia—and cool it into liquefied natural gas for transport and sale in Asia. The Prelude is expected to start producing LNG in 2017[124]—analysts estimated the total cost of construction at more thanUS$12 billion.[122][123][125]
Following the decision by the Shell fuel corporation to close itsGeelong Oil Refinery in Australia in April 2013, a third consecutive annual loss was recorded for Shell's Australian refining and fuel marketing assets. Revealed in June 2013, the writedown is worthA$203 million and was preceded by a A$638m writedown in 2012 and a A$407m writedown in 2011, after the closure of theClyde Refinery in Sydney.[126]
In February 2014, Shell sold its Australian refinery and petrol stations for US$2.6 billion (A$2.9 billion) to Swiss companyVitol.[127]
At the time of the downstream sale to Vitol, Shell was expected to continue investment into Australian upstream projects, with projects that involve Chevron Corp.,Woodside Petroleum and Prelude.[62] In June 2014, Shell sold 9.5% of its 23.1% stake inWoodside Petroleum and advised that it had reached an agreement for Woodside to buy back 9.5% of its shares at a later stage. Shell became a major shareholder in Woodside after a 2001 takeover attempt was blocked by then federal TreasurerPeter Costello and the corporation has been open about its intention to sell its stake in Woodside as part of its target to shed assets. At a general body meeting, held on 1 August 2014, 72 percent of shareholders voted to approve the buy-back, short of the 75 percent vote that was required for approval. A statement from Shell read: "Royal Dutch Shell acknowledges the outcome of Woodside Petroleum Limited's shareholders' negative vote on the selective buy-back proposal. Shell is reviewing its options in relation to its remaining 13.6 percent holding".[128]
Brunei Shell Petroleum (BSP) is a joint venture between the Government ofBrunei and Shell.[129] The British Malayan Petroleum Company (BMPC), owned by Royal Dutch Shell, first found commercial amounts of oil in 1929.[130] It currently produces 350,000 barrels of oil and gas equivalent per day.[131] BSP is the largest oil and gas company in Brunei, a sector which contributes 90% of government revenue.[132] In 1954, the BMPC in Seria had a total of 1,277 European and Asian staff.[133]
The company has upstream operations in unconventionaloil andgas in China. Shell has a joint venture withPetroChina at the Changbeitight gas field inShaanxi, which has produced natural gas since 2008. The company has also invested in exploring forshale oil in Sichuan.[134] The other unconventional resource which Shell invested in in China was shale. The company was an early entrant in shale oil exploration in China but scaled down operations in 2014 due to difficulties with geology and population density.[135] It has a joint venture to explore foroil shale in Jilin through a joint venture with Jilin Guangzheng Mineral Development Company Limited.[136]
In May 2024, Shell announced an exit from China power market business to focus on more profitable operations.[137]
Shell has been active in Hong Kong for a century, providing Retail, LPG, Commercial Fuel, Lubricants, Bitumen, Aviation, Marine and Chemicals services, and products. Shell also sponsored the first Hong Kong-built aircraft,Inspiration, for its around-the-world trip.[138]
Shell started operating in Indonesia since 1928. Shell started operatinggas stations in Indonesia since 1 November 2005. Its first gas station was located inLippo Karawaci,Tangerang. On 1 March 2006, Shell opened a gas station inJakarta located on Jalan S. Parman (Slipi). As of 2022, the fuels that Shell sells in Indonesia are Shell Super,Shell V-Power, Shell V-Power Nitro+,Shell V-Power Diesel and Shell Diesel Extra.[140]
Shell first started trading in Ireland in 1902.[141] Shell E&P Ireland (SEPIL) (previously Enterprise Energy Ireland) is an Irish exploration and production subsidiary of Royal Dutch Shell. Its headquarters are onLeeson Street in Dublin. It was acquired in May 2002.[142] Its main project is theCorrib gas project, a large gas field off the northwest coast, for which Shell has encounteredcontroversy and protests in relation to the onshore pipeline and licence terms.[143]
In 2005, Shell disposed of its entire retail and commercial fuels business in Ireland toTopaz Energy Group. This included depots, company-owned petrol stations and supply agreements stations throughout the island of Ireland.[144] The retail outlets were re-branded as Topaz in 2008/9.[145]
The Topaz fuel network was subsequently acquired in 2015 byCouchetard[146] and these stations began re-branding toCircle K in 2018.[147]
Shell's activities in Italy began on 13 July 1912, with the creation of "Nafta",[148] based inLa Spezia, founded after taking advantage of the weakness of the formerStandard Oil Trust, dissolved the previous year.[149]
During theFirst World War, Nafta abandoned the private sector, focusing on the war supplies to theItalian state. During the conflict, the company expanded, with the opening of new plants inNaples andAugusta and, after the end of hostilities, with the exploitation of further internal deposits.[150]
In thefirst post-war period, the company controlled the Italian internal market together with the SIAP, the local branch of theStandard of New Jersey (Esso). In 1921, under pressure from the CEO Giovanni Attilio Pozzo (then also elected president in 1923), the share capital was increased reaching 100 million lire.[149] The products sold at the time included "Bentero Shell" and "Aureola Petroli".[150]
In 1922, despite the difficult economic situation of the country, the company grew, and the newVado Ligure plant was inaugurated.[149] The inauguration, however, caused a short political clash between the Prime MinisterFacta and thesocialistdeputy Tonello, who in aparliamentary question harshly criticized the official telegram sent by Facta to "Nafta" on the occasion of the ceremony.[149] In the same year, the works for a coastal system inVenice also continued.[150]
The birth ofAgip created some disagreements between Nafta and theMinistry of the National Economy, which in 1926 asked the Prefects to subordinate the release of new concessions for the plant ofpetrol stations to an approval estimate of Agip; the question was resolved peacefully in 1927 on the initiative of the Italian company itself.[149]
At the end of the decade, taking advantage of a particularly advantageous legislation, the company launched into therefining sector, with the establishment of subsidiary companies in La Spezia.[149]
On 27 April 1939, Pozzo left "Nafta", after twenty years at the head of the company. The company controlled about 20% of the Italian market at the time.[149]
On 8 August 1940, following Italy's entry into theSecond World War, Nafta was seized and placed under the management of Agip, followed the following year by the US companies operating in Italy (SIAP,Vacuum,Texaco). On 30 July 1942 foreign oil companies were officially transferred to Agip, although the integration of their activities was somewhat complex and remained substantially unfinished. On 22 October 1945, after the end of hostilities, the measures were abandoned and the NAFTA and the other companies, under the guidance of the Italian Petroli Committee, returned to normal activity.[149]
In 1949 the company, now fully restored, was renamed "Shell Italiana S.p.A". with a share capital of more than 2 billion lira.[149] Still in the early 1960s, Shell covered about 20% of the Italian oil needs.[149]
The Italian Shell was the first company to be advertised withCarosello.[151][152]
In 1959 the company purchased the former Condor refinery ofRho and in 1967 it built a large plant inTaranto,[149] whose works began in 1964 with an initial investment of 25 billion lire.[153]
Shell remained active in the country until April 1974 when, following difficulties in the oil sector caused by theKippur War and the general conditions of the Italian economy, now not very favorable, the old company was sold toEni, which becameItaliana Petroli (IP).[149] The company then returned to the fuel distribution in 1980,[154] with the acquisition of theConoco network,[155] while in 1987 the joint venture withMontedison which led to the creation ofMonteShell.[156]
In July 2014 Shell gave its network of service stations and fuel deposits in Italy to theKuwait Petroleum Italia (Q8).[157]
In 2022 an agreement was announced with the Pad Multiegy company, for the brand to be restored and Shell products to be sold in over 500 Italian service stations,[158] the first of which was inaugurated in March 2022.[159]
In Italy today Shell operates through Shell Italia S.p.A. controlled by Shell Italia Finanza S.p.A. The main locations are inSesto San Giovanni andRome.[160]
Shell discovered the first oil well in Borneo in 1910, inMiri, Sarawak. Today, the oil well is a state monument known as the Grand Old Lady. In 1914, following this discovery, Shell built Borneo's first oil refinery and laid a submarine pipeline inMiri.[161][162]
Shell began production inNigeria in 1958.[163] InNigeria, Shell told US diplomats that it had placed staff in all the main ministries of thegovernment.[164] Shell continues however upstream activities/extracting crude oil in the oil-richNiger Delta as well as downstream/commercial activities in South Africa. In June 2013, the company announced a strategic review of its operations in Nigeria, hinting that assets could be divested.[165][166] In August 2014, the company disclosed it was in the process of finalizing the sale of its interests in fourNigerian oil fields.[167] On 29 January 2021 a Dutch court ruled that Shell was responsible for multiple oil leaks in Nigeria.[168]
The actions of companies like Shell has led to extremeenvironmental issues in the Niger Delta. Many pipelines in the Niger Delta owned by Shell are old and corroded. Shell has acknowledged its responsibility for keeping the pipelines new but has also denied responsibility for environmental causes.[169] The heavy contamination of the air, ground and water with toxic pollutants by the oil industry in the Niger Delta is often used as an example ofecocide.[170][171][172][173] This has led to mass protests from theNiger Delta inhabitants,Amnesty International, andFriends of the Earth the Netherlands against Shell. It has also led to action plans to boycott Shell byenvironmental andhuman rights groups.[174] In January 2013, a Dutch court rejected four out of five allegations brought against the firm over oil pollution in the Niger Delta but found a subsidiary guilty of one case of pollution, ordering compensation to be paid to a Nigerian farmer.[175]
On 27 August 2007, Shell andReitan Group, the owner of the7-Eleven brand inScandinavia, announced an agreement to re-brand some 269 service stations acrossNorway, Sweden,Finland andDenmark, subject to obtaining regulatory approvals under the differentcompetition laws in each country.[176] In April 2010 Shell announced that the corporation is in process of trying to find a potential buyer for all of its operations in Finland and is doing similar market research concerning Swedish operations.[177][178] In October 2010 Shell's gas stations and the heavy vehicle fuel supply networks in Finland and Sweden, along with a refinery located inGothenburg, Sweden were sold toSt1, a Finnish energy company, more precisely to its major shareholding parent company Keele Oy.[179] Shell gas stations in Norway were taken over by St1 in 2015, but continued operating under the Shell brand until 2025.[180]
Through most of Shell's early history, theShell US business in the United States was substantially independent. Its stock was traded on theNYSE, and the group's central office had little direct involvement in running the operation. However, in 1984, Shell made a bid to purchase those shares of Shell Oil Company it did not own (around 30%) and, despite opposition from some minority shareholders which led to a court case, Shell completed the buyout for a sum of $5.7 billion.[181]
Royal Dutch Shell operates in thePhilippines under its subsidiary,Shell Pilipinas Corporation orSPC. Its headquarters is inTaguig and it has facilities in thePandacan oil depot and other key locations.[182]
In January 2010, theBureau of Customs claimed 7.34 billion pesos worth of unpaidexcise taxes againstPilipinas Shell for importing Catalytic cracked gasoline (CCG) and light catalytic cracked gasoline (LCCG) stating that those imports are bound for tariff charges.[183]
In August 2016, Pilipinas Shell filed an application to sell US$629 million worth of primary and secondary shares to the investing public (registration statement) with theSEC. This was a prelude to filing its IPO listing application with thePhilippine Stock Exchange. On 3 November 2016 the Pilipinas Shell Petroleum Corporation was officially listed on thePhilippine Stock Exchange under the ticker symbol SHLPH after they held itsinitial public offering on 19 to 25 October of the same year.[184]
Due to the economic slowdown caused by the COVID-19 pandemic on the global, regional and local economies, continually low refining margins, and competition with imported refined products, the management of Pilipinas Shell announced in August 2020 that the 110,000 bbl/d refinery in Tabangao, Batangas, which started operations in 1962, will be shutting down permanently and turned into an import terminal instead.[185]
In February 2022, Shell exited all its joint ventures withGazprom because of the2022 Russian invasion of Ukraine[186] and, in March 2022, Shell announced that it would stop buying oil from Russia and close all its service stations there.[187] In April 2022, it emerged that Shell was to book up to $5 billion in impairment charges from exiting its interests in Russia.[188]
Singapore is the main centre for Shell's petrochemical operations in the Asia Pacific region. Shell Eastern Petroleum limited (SEPL) have their refinery located in Singapore'sPulau Bukom island. They also operate as Shell Chemicals Seraya inJurong Island.[189] In November 2020, Shell announced that, as part of efforts to curtail pollution emissions, it will cut its oil-processing capacity in Singapore.[190]
Shell Downstream SA (SDSA) was created through a merger of Shell South Africa andBBBEE company Thebe Investment Corporation. The South AfricanDepartment of Mineral Resources and Energy granted Shell exploration rights in the country, and it has been operating in South Africa since 1902.[191]
The company also owns an oil refinery inDurban, which has been closed since the end of March 2022. On 6 May 2024, Shell indicated its intent to exit the South African downstream market. This includes its refining, transport, and retail offerings. It is as yet unknown what will happen to its gas stations.[192]
Prior to the 1960s, Shell was one of the major multinational corporations operating in Sri Lanka, alongside companies likeEsso andCaltex. These companies played pivotal roles in importing, distributing, and retailing petroleum products across the country. However, in 1962, under the leadership of Prime MinisterSirimavo Bandaranaike, theSri Lankan governmentnationalized the assets of these oil giants. This move aimed to reduce foreign dominance in key economic sectors and led to the establishment of theCeylon Petroleum Corporation (CPC), granting it exclusive rights over the importation, sale, export, and distribution of most petroleum products in Sri Lanka.[193]
After a period of reduced presence, Shell re-entered the Sri Lankan market in the mid-1990s. In 1996, Shell acquired a 51% stake in theColombo Gas Company for $37 million, marking its significant return to the country's energy sector. This acquisition led to the establishment of Shell Gas Lanka Limited, which managed the importation, storage, and distribution of liquefied petroleum gas (LPG) in Sri Lanka.[194]
In recent years, Shell has signaled its intent to re-establish a presence in Sri Lanka's fuel retailing market. In collaboration with RM Parks and Tristar, Shell announced plans to introduce Shell-branded fuel stations in the country, marking a significant return to the Sri Lankan energy landscape. On 26 February 2025, Shell marked its return to Sri Lanka's fuel retail market by inaugurating its first Shell-branded fuel station in over six decades. This station is located at the B.S. Cooray Filling Station in Ambathale, Colombo District.[195]
In the UK sector of theNorth Sea Shell employs around 4,500 staff in Scotland as well as an additional 1,000 service contractors: however in August 2014 it announced it was laying off 250 of them, mainly inAberdeen.[196] Shell paid no UK taxes on its North Sea operations over the period 2018 to 2021.[197]
Brunei Shell Petroleum's flagship solar plant inPanaga, 2021
In the early 2000s Shell moved intoalternative energy and there is now an embryonic "Renewables" business that has made investments insolar power,wind power,hydrogen, andforestry. The forestry business went the way of nuclear, coal, metals and electricity generation, and was disposed of in 2003. In 2006 Shell paidSolarWorld to take over its entire solar business[198] and in 2008, the company withdrew from theLondon Array which when built was the world's largest offshore wind farm.[199]
Shell also is involved in large-scale hydrogen projects. HydrogenForecast.com describes Shell's approach thus far as consisting of "baby steps", but with an underlying message of "extreme optimism".[200] In 2015, the company announced plans to install hydrogen fuel pumps across Germany, planning on having 400 locations in operation by 2023.[201]
Shell holds 44% ofRaízen, a joint venture with Brazilian sugarcane producerCosan which is the third-largest Brazil-based energy company by revenues and a major producer ofethanol.[16] In 2015, the company partnered with Brazilian start-up company Insolar to install solar panels inRio de Janeiro to deliver electricity to theSanta Marta neighbourhood.[202]
Shell is the operator and major shareholder of TheShell Canada Quest Energy project, based within the Athabasca Oil Sands Project, located nearFort McMurray, Alberta.[203] It holds a 60% share, alongsideChevron Canada Limited, which holds 20%, and Marathon Canadian Oil Sands Holding Limited, which holds the final 20%.[204] Commercial operations launched in November 2015. It was the world's first commercial-scale oil and sandcarbon capture storage (CCS) project.[203] It is expected to reduce CO2 emissions in Canada by 1.08 million tonnes per year.[205]
Shell Recharge rapid charger in the Cirencester Waitrose car park, 2023
In October 2017, it bought Europe's biggest vehicle charging network, "NewMotion".[208]
In November 2017, Shell's CEO Ben van Beurden announced Shell's plan to cut half of its carbon emissions by 2050, and 20 percent by 2035. In this regard, Shell promised to spend $2 billion annually on renewable energy sources. Shell began to develop its wind energy segment in 2001, the company now operates six wind farms in the United States and is part of a plan to build two offshore wind farms in the Netherlands.[209]
In December 2017, the company announced plans to buy UK household energy and broadband providerFirst Utility.[210] In March 2019 it rebranded toShell Energy and announced that all electricity would be supplied from renewable sources.[211]
In December 2018, the company announced that it had partnered withSkyNRG to begin supplyingsustainable aviation fuel to airlines operating out ofSan Francisco Airport (SFO), includingKLM,SAS, andFinnair.[212][213] In the same month, the company announced plans to double its renewable energy budget to investment in low-carbon energy to $4 billion US each year, with an aim to spend up to $2 billion US on renewable energy by 2021.[214]
In January 2018, the company acquired a 44% interest in Silicon Ranch, a solar energy company run byMatt Kisber, as part of its global New Energies project.[215] The company took over from Partners Group, paying up to an estimated $217 million for the minority interest.[216]
In February 2019, the company acquired German solar battery companySonnen.[217] It first invested in the company in May 2018 as part of its New Energies project.[218] As of late 2021, the company had 800 employees and has installed 70.000 home battery systems.[219]
On 27 February 2019, the company acquired British VPP operator Limejump for an undisclosed amount.[220]
In July 2019, Shell installed their first 150 kW electric car chargers at its Londonpetrol stations with payments handled viaSMOOV. They also plan to provide 350 kW chargers in Europe by entering into an agreement withIONITY.[221]
On 26 January 2021, Shell said it would buy 100 per cent of Ubitricity, owner of the largest public charging network forelectric vehicles in the United Kingdom, as the company expands its presence along the power supply chain.[222] In 2023, Shell announced that it would rebrand its Ubitricity chargepoints under its Shell Recharge brand.[223]
On 25 February 2021, Shell announced the acquisition of German Virtual Power Plant (VPP) company Next Kraftwerke for an undisclosed amount. Next Kraftwerke connects renewable electricity generation- and storage projects to optimize the usage of those assets. The company mostly operates in Europe.[224]
In November 2022, it was announced Shell's wholly owned subsidiary, Shell Petroleum NV, had acquired theOdense-headquarteredrenewable natural gas producer, Nature Energy Biogas A/S for nearly US$2 billion.[225]
Presentation of Shell Oil Company contribution to National Fish and Wildlife Foundation at the Foundation's Celebrating the Great Outdoors fundraising event, 2005
In 2020, theNorthern Lights CCS project was announced, which is a joint project between Equinor, Shell and Total, operating in the European Union (Norway) and aiming to store liquid CO2 beneath the seabed.[226][227][228][229]
Environmentalists have expressed concern that Shell is processing oil from theAmazon region of South America. In the United States, the Martinez refinery (CA) and the Puget Sound Refinery (WA) carry Amazonian oil. In 2015, 14% of the Martinez refinery's gross, at 19,570 barrels per day, came from the Amazon.[230]
In December 2021, Royal Dutch Shell decided to move ahead with seismic tests to explore for oil inhumpback whale breeding grounds along South Africa's eastern coastline.[231] On 3 December 2021, a South African high court struck down an urgent application brought by environmentalists to stop the project, which will involve a vessel regularly firing an air gun that produces a very powerful shock wave underwater to help map subsea geology. According to Greenpeace Africa and the South African Deep Sea Angling Association, this could cause "irreparable harm" to the marine environment, especially to migrating humpback whales in the area.[232]
In the past, Shell has been a part of lobbying and trade groups that are against climate policy and promote climate skepticism.[235]
In 2017, a public information film ("Climate of Concern") unseen for years resurfaced and showed Shell had clear grasp of global warming 26 years earlier but has not acted accordingly since, said critics.[236][237][238] During the years of 2010–2018, only 1% of Shell's long-term investments were dedicated to sources of low-carbon energy such as wind and solar. In the years of 2015–2017, just 0.4% of its revenue was put towards low-carbon technology.[239]
Shell failed to meet its own target in 2020 to spend $6 billion on renewable energy. In 2021, 30% of Shell's shareholders voted for a climate resolution filed byshareholder advocacy groupFollow This.[240] Still, it is estimated that Shell is not on track to meet its own investment target for 2025, and that the company needs to direct over half of its capital expenditures (nearly $10 billion per year) to zero carbon investments to meet its long-term net-zero targets.[239] In April 2020, Shell announced plans to achievenet zero greenhouse gas emissions by 2050 or sooner.[241] They also pledged to reduce carbon intensity of all energy products by 20% by 2030, and 45% by 2035 (compared to 2016 levels.)[242] However, internal documents from the company released by the Democratic-led House committee reveal a private 2020 communication saying Shell does not have any plans to bring emissions to zero for next 10–20 years.[243]
In March 2024, Shell CEO Wael Sawan announced that the company would moderate its near-term carbon emissions reduction targets, revising its reduction innet carbon intensity of third-party use of products down to 15% from 20% and dropping its target of a 45% reduction in carbon emissions by 2035 from a 2016 baseline.[244][245]
Shell plc reported 58 million metric tons of emissions from its operations in 2024 with 50 million metric tons coming from Scope 1 sources and 8 million metric tons coming from Scope 2 sources. This high level of emissions is a result of Shell plc's main business activities, which include gas production and oil refining. Actually, industries with a high environmental risk account for 100% of the company's revenue, with consumable fuels making up 89.7% of this total.[246] Even if Shell cut methane emissions by 19.5% and gas flaring by 14.3% in a single year, its green revenue is still only 0.2%.[246] Additionally, there are extremely high environmental risks associated with the company's value chain, particularly with regard to greenhouse gas emissions and ecosystem change.[246]
Shell's company faces risks and challenges as a result of climate change. The corporation works in high-risk industries that could be impacted by public opinion and laws related to climate change. The fact that 3% of Shell's assets are located in pristine areas, for instance, may cause future disputes and more strict laws.[246] Shell has declared a transition strategy and a target of achieving net zero emissions by 2050 in order to address these threats. By 2024, Shell had exceeded its goal of reducing emissions by 30% over a 14-year period.[246] Its emissions, particularly those from Scope 3, are still greater than some industry standards, nonetheless.[246]
On 5 April 2019,Milieudefensie (Dutch for "environmental defense"), together with six NGOs and more than 17,000 citizens, sued Shell, accusing the company of harming the climate despite knowing about global warming since 1986.[247][248] In May 2021, the district court ofThe Hague ruled that Shell must reducecarbon dioxide emissions by 45% by 2030 (compared to 2019 levels).[249]
Shell contested the 2021 ruling, contendeding that the ruling exceeded judicial authority and could lead to counterproductive outcomes. The outcome was anticipated to significantly impact Shell's operations and influence European energy companies' climate policies.[250] On 12 November 2024, The Hague's appeals court dismissed the 2021 ruling that had required Shell to cut its absolute carbon emissions by 45% by 2030, relative to 2019 levels, including emissions resulting from the use of its products.[251]
Shell was responsible for around 21,000 gallons of oil spilled nearTracy, California, in May 2016 due to a pipeline crack.[252]
Shell was responsible for an 88,200-gallon oil spill in the Gulf of Mexico in May 2016.[253]
Two ruptures in a Shell Oil Co. pipeline inAltamont, California – one in September 2015 and another in May 2016 – led to questions on whether the Office of the State Fire Marshal, charged with overseeing the pipeline, was doing an adequate job.[254]
On 29 January 2021, a Dutch court ordered Royal Dutch Shell plc's Nigerian unit to compensate for oil spills in two villages over 13 years ago. Shell Nigeria is liable for damages from pipeline leaks in the villages of Oruma and Goi, the Hague Court of Appeals said in a ruling. Shell said that it should not be liable, as the spills were the result of sabotage.[255]
On 2 September 2002, Shell chairman Philip Watts accepted the "Greenwash Lifetime Achievement Award" from the Greenwash Academy's Oscar Green, near the World Summit on Sustainable Development.[256]
In 2007, BritishASA ruled against a Shell ad involving chimneys spewing flowers, which depicted Shell's waste management policies, claiming it was misleading the public about Shell's environmental impact.[257][258]
In 2008, the British ASA ruled that Shell had misled the public in an advertisement when it claimed that a $10 billionoil sands project inAlberta, Canada, was a "sustainable energy source".[259][260]
In 2021,Netherlands officials told Shell to stop running a campaign which claimed customers could turn their fuel "carbon neutral" by buying offsets, as it was concluded that this claim was devoid of evidence.[261][262]
In December 2022,U.S. House Oversight and Reform Committee ChairCarolyn Maloney andU.S. House Oversight Environment Subcommittee ChairRo Khanna sent a memorandum to all House Oversight and Reform Committee members summarizing additional findings from the committee's investigation into the fossil fuel industry disinformation campaign to obscure the role of fossil fuels in causing global warming, and that upon reviewing internal company documents, accused Shell along withBP,Chevron Corporation, andExxonMobil ofgreenwashing theirParis Agreementcarbon neutrality pledges while continuing long-term investment in fossil fuel production and sales, for engaging in a campaign to promote the use of natural gas as a clean energy source and bridge fuel to renewable energy, and of intimidating journalists reporting about the companies' climate actions and of obstructing the committee's investigation, which ExxonMobil, Shell, and theAmerican Petroleum Institute denied.[263][264][265]
A number of incidents over the years led to criticism of Shell'shealth and safety record, including repeated warnings by theUK Health and Safety Executive about the poor state of the company's North Sea platforms.[266]
Shell already had previous experience exiting markets that were subject to sanctions pressure from NATO or EU member states. In particular, in 2013, Shell announced that it was suspending its operations in Syria.[267] On 8 March 2022, Shell announced its intention to phase out all Russian hydrocarbon production and acquisition projects, including crude oil, petroleum products, natural gas and liquefied natural gas (LNG). In early 2022, the company was criticized by the Minister of Foreign Affairs of Ukraine for its slow response to the Russian invasion.[268] As of April 2023, Shell still had shares in Russian companies, such as 27.5% in Sakhalin Energy Investment Company (SEIC), a joint venture with Gazprom (50%), Mitsui (12.5%) and Mitsubishi (10%).[269]
This domain name was first registered by a former marketing manager for Royal Dutch Shell plc, Alfred Donovan, and has been used as a "gripe site".[270] It avoids being an illegalcybersquatter as long as it is non-commercial, active, and no attempt is made to sell the domain name, as determined byWIPO proceedings.[271] In 2005, Donovan said he would relinquish the site to Shell after it "gets rid of all the management he deems responsible for its various recent woes".[272] The site has been recognized by several media outlets for its role as anInternet leak. In 2008, theFinancial Times published an article based on a letter published by royaldutchshellplc.com,[273] whichReuters andThe Times also covered shortly thereafter.[274][275] On 18 October 2006, the site published an article stating that Shell had for some time been supplying information to the Russian government relating toSakhalin II.[276] The Russian energy companyGazprom subsequently obtained a 50% stake in the Sakhalin-II project.[277] Other instances where the site has acted as an Internet leak include a 2007IT outsourcing plan,[278] as well as a 2008 internal memo where CEOJeroen van der Veer expressed disappointment in the company's share-price performance.[279]
The gripe site has also been recognized as a source of information regarding Shell by several news sources. In the 2006Fortune Global 500 rankings, in which Royal Dutch Shell placed third, royaldutchshellplc.com was listed alongside shell.com as a source of information.[280] In 2007, the site was described as "a hub for activists and disgruntled former employees".[281] A 2009 article called royaldutchshellplc.com "the world's most effective adversarial Web site".[282] The site has been described as "an open wound for Shell".[276]
^abcYergin, Daniel (1991).The Prize, The Epic Quest for Oil, Money & Power. New York: Simon & Schuster. pp. 63–77,86–87,114–127.ISBN978-0-671-79932-8.
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Companies with headquarters and/or registered office in the UK but no applicable energy operations within the country shown initalics1Ultimate parent company is not UK-based2Integrated in the United States, no generation or supply activities in the UK
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