London: British energy giant Shell announced Thursday that chief executive Ben van Beurden will step down at the end of the year to be replaced by renewables director Wael Sawan. Van Beurden, who will have been at the helm for nine years, will be succeeded by the head of integrated gas, renewables and energy solutions, […]
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Shell, Nestle, Samsung profits go through the roof
Shell profit rockets on high oil prices British energy giant Shell said Thursday that its net profit soared more than five-fold to $18 billion in the second quarter, fuelled by resurgent oil and gas prices, and rewarded shareholders with another bumper buyback. The surge in profits in the three months to June was partially attributable […]
Shell exits controversial Cambo oilfield project
Energy giant Royal Dutch Shell has announced its exit from the proposed development of Cambo oilfield off the Shetland Islands, a project which has been blighted by climate protests. Shell, which has a 30 percent interest in the development off the western coast of Scotland, said late Thursday that the investment case was simply “not […]