Shell … LONDON: Royal Dutch Shell Chief Executive Ben van Beurden’s pay package dropped by 42 percent to $7 million in 2020, a year in which the coronavirus pandemic pushed … Building on news of the recent Strategic Alliance with Shell, Microsoft will be supporting Shell and Equinor with the co-development of the tool, which runs on Microsoft Azure. Shell invested $17.8 billion in new projects in 2020, about $6 billion less than a year earlier, and slashed its operating costs by 12% to $32.5 billion, helping its cash flow. Home / Oil & Energy / Oil & Companies News / Shell Reports 2020 Results. Shell chief took more than 40% pay cut in 2020 as Covid hit profits Oil company’s annual results show Ben van Beurden’s remuneration for the year fell to a total of £5m Published: 11 Mar 2021 Author: Al Greenwood. Van Beurden's total remuneration for 2020 was 5.8 million euros ($6.93 million), compared with about 10 million euros the year before, the company disclosed in its annual report on Thursday. Posted at 11:14 30 Apr 2020 11:14 30 Apr 2020 Shell cuts dividend for first time since WW2 Royal Dutch Shell slashes its quarterly dividend by two-thirds amid the global oil price shock. LONDON: Royal Dutch Shell, owner of the world's largest fuel retail network, said on Thursday its total greenhouse gas emissions dropped 16% in 2020 as oil and gas sales fell sharply due to the coronavirus pandemic. Shell said it would raise its dividend to shareholders by around 4% to 16.65 U.S. cents for the third quarter of 2020 and on an annual basis going forward. Shell invested $17.8 billion in new projects in 2020, about $6 billion less than a year earlier, and slashed its operating costs by 12% to $32.5 billion, helping its cash flow. Colin Roche, Friends of the Earth Europe This year, Shell is facing a series of European court battles over its business in Nigeria. Shell Reports 2020 Results. in Oil & Companies News 05/02/2021 “2020 was an extraordinary year. They claim that over several years they have suffered systematic and ongoing oil pollution because of Shell’s operations. HOUSTON (ICIS)--Shell plans to reduce its refinery portfolio to six sites from 14 by 2025, the company said on Thursday. Reducing costs is vital for Shell’s plans to move into the crowded power sector and renewable energy where margins are typically lower than for fossil fuels. Royal Dutch Shell Plc had been turning out about 2.7 million barrels of oil each day until the novel coronavirus took hold of the world. The Company has announced a cash allocation framework that will enable it to reduce debt, increase distributions to shareholders, and allow for disciplined growth as it reshapes its business for the future of energy. Shell said in its annual report that total emissions from its oil wells to forecourt fuel sales fell to 1.38 billion tonnes of carbon dioxide equivalent last year, from 1.65 billion in 2019. We have taken tough but decisive actions and demonstrated highly resilient operational delivery while caring for our people, customers and communities. According to her Linked-In site, “this role covers Shell’s work in wind and solar, new mobility options such as electric vehicle charging, and laying […] Economy News -THE HAGUE (REUTERS) - Royal Dutch Shell's chief executive Ben van Beurden pay package nearly halved in 2020, a year in which the … Shell has announced its fourth quarter 2020 results. An August 24, 2020 media release from Shell with the caption – “THE PURPORTED SALE OF SPDC’S KIDNEY ISLAND ASSET AND INTEREST IN OML … On 23 June, the UK’s Supreme Court will hear an appeal brought by two Niger Delta communities, Ogale and Bille. Shell and Microsoft have worked together for the last three years on AI projects, including on 47 AI-powered proprietary applications deployed across Shell's businesses in 2020 alone. Shell invested $17.8 billion in new projects in 2020, about $6 billion less than a year earlier, and slashed its operating costs by 12% to $32.5 billion, helping its cash flow. In 2019, the company registered revenues of $344.8 billion and an income of $16.4 billion. Shell invested $17.8 billion in new projects in 2020, about $6 billion less than a year earlier, and slashed its operating costs by 12% to $32.5 billion, helping its cash flow. The latest breaking news, comment and features from The Independent. Shell reported revenues of $180.5 billion and a loss of $21.5 billion for 2020. Shell is also looking to reduce spending on oil and gas production by 30% to 40%, according to Reuters. As global demand for oil and gas plunged last year, Shell's profit tumbled to a two-decade low while its shares hit their lowest since the 1990s. Shell's Prelude floating LNG facility has been shutdown since February 2020. Shell launched the next tranche of the share buyback program on Thursday, with a maximum aggregate consideration of $1 billion in the period up to and including April 27, 2020. The company’s earnings from oil trading in 2020 beat the highest ever net income at Vitol Group, the world’s largest independent trading house, which made a record $2.3 billion in 2019. "One of the major causes of this larger than expected reduction in 2020 was lower demand for energy, especially for oil and gas," it said. Shell has reported a $19.9bn (£14.4bn) loss for 2020 after an "extraordinary year" in which oil and gas prices have slumped amid the coronavirus pandemic. '2020 was an extraordinary year. 2020/10/29. Africa Oil & Gas Report: On April 1, 2020, Elisabeth Brinton was appointed Executive Vice President of Shell’s New Energies business, steering the company’s work in power, renewables and lower-carbon technology. Shell warned the market on Monday that it would book up to $4.5 billion more in post-tax charges in the fourth quarter, which would take the supermajor’s … Shell has announced its third quarter 2020 results. Shell to reduce refinery portfolio to six sites from 14. Reducing costs is vital for Shell's plans to move into the crowded power sector and renewable energy where margins are typically lower than for fossil fuels.