Shell plc: Difference between revisions

Revision as of 00:07, 26 March 2025

Revision as of 00:31, 26 March 2025

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[[File:Filling station.jpg|thumb|Shell filling station in the UK, 2006]]

In November 2004, following a period of turmoil caused by the revelation that Shell had been overstating its [[oil 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 on [[Euronext Amsterdam]], its headquarters and tax residency in [[The Hague]], Netherlands and its registered office in London. The company was already incorporated in 2002 as '''Forthdeal Limited''', a [[shelf corporation]] incorporated by Swift Incorporations Limited and Instant Companies Limited, both based in Bristol.<ref name="chshell"/> 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,<ref>[http://www.shell.com/home/content/investor/shareholder_information/unification_archive/st_archive/share_capital_history/ The Shell Transport & Trading Company plc] {{webarchive|url=https://web.archive.org/web/20120522212951/http://www.shell.com/home/content/investor/shareholder_information/unification_archive/st_archive/share_capital_history/ |date=22 May 2012 }} delisted from LSE,</ref>, changing its name to The Shell Transport and Trading Company Limited<ref>{{cite web|url=https://find-and-update.company-information.service.gov.uk/company/00054485/filing-history?page=5 |title=Directors' Report and Accounts 2005|publisher=Shell Transport and Trading Company Limited|access-date=26 March 2025}}</ref>, whereas Royal Dutch Petroleum Company was delisted from the [[New York Stock Exchange]] on 18 November 2005.<ref>{{cite web|url=https://www.sec.gov/rules/delist/1-03788_111805.pdf|title=N.V. Koninklijke Nederlandsche Petroleum Maatschappij (English translation, Royal Dutch Petroleum Company) to Withdraw its Ordinary Shares, par value 0.56 Euro, from NYSE|access-date=13 May 2019|archive-url=https://web.archive.org/web/20181109153338/https://www.sec.gov/rules/delist/1-03788_111805.pdf|archive-date=9 November 2018|url-status=live}}</ref> 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.<ref>[http://news.bbc.co.uk/1/hi/business/4628983.stm Shell shareholders agree merger] {{Webarchive|url=https://web.archive.org/web/20071214094846/http://news.bbc.co.uk/1/hi/business/4628983.stm |date=14 December 2007 }} BBC News, 2005</ref>

During the [[Economy of Iraq#2009 Oil services contracts|2009 Iraqi oil services contracts tender]], a consortium led by Shell (45%) and which included [[Petronas]] (30%) was awarded a production contract for the "Majnoon field" in the south of Iraq, which contains an estimated {{convert|12.6|Goilbbl|m3}} of oil.<ref name=GT-DEX-2009-47>{{cite news|title=Iraq holds oil auction, Shell wins giant field|url=http://in.reuters.com/article/idINIndia-44646120091211|access-date=22 August 2012|work=Reuters|date=11 December 2009|archive-url=https://web.archive.org/web/20130619230728/http://in.reuters.com/article/2009/12/11/idINIndia-44646120091211|archive-date=19 June 2013|url-status=dead}}</ref><ref>{{cite news|url=http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article6954091.ece|title=Shell secures vital toehold in 'the new Iraq' where oil is ready to flow|access-date=22 April 2011|work=The Times|date=12 December 2009|___location=London|first=Robin|last=Pagnamenta|archive-url=https://archive.today/20120712060026/http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article6954091.ece|archive-date=12 July 2012|url-status=bot: unknown}}</ref> The "West Qurna 1 field" production contract was awarded to a consortium led by [[ExxonMobil]] (60%) and included Shell (15%).<ref>[[Iraq oil#2009 Oil services contracts|2009 Iraqi oil services contracts tender]]</ref>