- Shell’s Loyalty to Profit Outweighs Its Loyalty to London.
- Shell Threatens to Leave London While Eyeing BP Takeover.
- British Oil Industry Faces Turmoil as Shell Considers New York Move.
Nothing is more patriotic corporate allegiance than threatening to leave your native country for greater tax incentives and political favours in Trump’s America. Shell — a global leader in greenwashing and record-breaking fossil fuel profits is once again proving that when you’re Europe’s biggest oil giant, the only thing bigger than your balance sheet is your ego, reports Royal Dutch Shell Plc.com.
Shell Eyes Wall Street Over ‘Undervaluation’ in London
The company is now exploring delisting from the London Stock Exchange and moving to New York, where oil chiefs remain respected rather than reviled. CEO Wael Sawan, who appears to be a “less wind, more gas” man, is not impressed with British investors not quite giving Shell the due respect for its financial performance. Bemoaning to Bloomberg, he said:
“We are grossly undervalued in London.” The big problem? Shell feels it’s not receiving the same valuation treatment as Chevron and ExxonMobil, and with Trump’s return on the horizon promising deregulation, the timing could not be more opportune for a relocation.
British Government Rushes to Keep Big Oil Moored
In Westminster, meanwhile, officials are said to be discouraging Shell from leaving, not for the sake of employees or the economy but because of the fear of losing control over BP, Britain’s other fossil fuel giant. BP, which attempted (and failed) to position itself as a clean energy leader in the past, is fighting alongside. Under CEO Murray Auchincloss, the firm has returned to its fossil fuel origins, but its stock performance is still anaemic.
In the meantime, U.S. activist hedge fund Elliott Management has taken a 5% stake in BP, putting pressure on cost-cutting, management changes, and potentially selling or merging the firm.
BP’s Oil Trading Desk: The Real Prize
The real crown jewel of BP is not its energy transition hype — it’s its oil trading business, one of the most advanced in the world. With 3,000 employees, BP’s trading arm operates like a hedge fund on steroids, thriving in volatile markets. A former executive recalled how BP’s big bet on oil prices in 2016 paid off handsomely: “BP made a lot of money.”
Shell, recognizing the value of a top-tier trading division, has been looking to expand its operations. Acquiring BP could fast-track that ambition.
Geopolitics and Soft Power: The Iraq Factor
Piling on the complication, BP is also tightening relationships with Iraq, assisting in the development of the Kirkuk oil fields — an agreement that grants the UK strategic leverage in the area.
British officials do not wish for BP to end up in foreign ownership, yet since Shell has its globalized organizational structure, it is difficult to make the case that the firm itself is so British anymore.
Shell’s Track Record of Strategic Flip-Flops
Let’s sum up Shell’s recent corporate shenanigans:
- In 2022, Shell relocated its headquarters from The Hague to London, losing its “Royal Dutch” designation and promoting a new British identity.
- Now, two years on, it’s threatening to leave London behind for Wall Street, citing tax and lack of investor interest.
Investors Fuel the Fire, Not the Transition
In all the green-speak, Shell’s largest shareholders — including Vanguard and BlackRock — still put profits ahead of sustainability.
Rather than challenging Shell’s carbon-heavy strategy, investors demand “clarity” and “returns”—which, in oil-speak, means more fossil fuel expansion and market dominance. If Shell buys BP, it might become a super-polluting, super-profitable fossil fuel behemoth, complete with an elite trading empire.
The Bottom Line
Shell is not investing in an energy transition it’s scheming a hostile takeover of the industry as a whole. If that entails swallowing BP, abandoning Britain, and accepting Wall Street’s carbon-belching hug, then so much the better.
While Britain’s oil industry is on the brink, Shell is busy searching for its next large purchase, playing the game like a Bond baddie at Harrods. And if you’re hoping Shell will suddenly find an environmental conscience, don’t hold your breath. Unless, of course, you happen to live close to one of their refineries in which case, you don’t have a choice.
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Source: Royal Dutch Shell Plc .com
