A group of protesters gathered at the Shell head office in The Hague on Tuesday to protest against the oil and gas giant's lack of commitment to fighting climate change. The protest was held during the shareholders' meeting at the head office on Carel van Bylantlaan, NU.nl reports.
Dutch oil and gas giant Shell saw its profits fall a massive 46 percent in the first quarter of this year. In the first quarter of 2019, the company made a profit of 6 billion euros. This year, the multinational suffered a loss of 24 million euros, NOS and NU.nl report.
CEO Ben van Beurden called the circumstances of the past few months "extremely challenging".
A mass selling of stocks triggered by the increasing spread of coronavirus Covid-19 combined with sharply falling oil prices resulted in stock markets across Europe crashing on Monday morning. Amsterdam's AEX fell over 7.6 percent within the first 45 minutes of Monday's trading, compared to Friday's close, before a slight rebound
Shell instructed a number of its Singapore employees to work from home for the time being after the company confirmed that one employee was in close contact with someone who tested positive for coronavirus Covid-19. The employee in question "is well with no symptoms", the Dutch petroleum company said.
Streaming media giant Netflix was accused of using the Netherlands as a major part of a tax haven scheme to reduce its income tax liabilities globally. A report released this week by Tax Watch UK said Netflix moved between $327 and $430 million into tax havens in 2018, out of its total global profits that year of $1.2 billion.
Energy company Eneco will be sold to a Japanese consortium of Mitsubishi and Chubu for 4.1 billion euros. That is significantly higher than the expected 3 billion to 4 billion euros, which is good news for the 44 municipalities who owned Eneco shares, De Telegraaf reports.
The majority of former Eneco owners are in Zuid-Holland and Friesland, though there were also a few municipalities from other provinces among them. Rotterdam is the big winner, getting 1.3 billion euros from the sale. Den Haag wins 678 million euros.
Shell turned to court to demand that all Greenpeace protests be banned on and around the four Brent oil platforms in the British part of the North Sea. In mid-October Greenpeace protested on two of the no-longer-in-use platforms, demanding that Shell dismantle and remove the platforms. A court in Scotland will rule on this case on Thursday, NOS reports.
Shell must pay a fine of 2.5 million euros for an explosion on the company's Moerdijk site in 2014, the court in Den Bosch ruled on Monday. According to the court, the oil- and gas giant did not take sufficient measures to prevent such a major incident, NU.nl reports.
Shell paid no taxes on the billions of euros in profit it made in the Netherlands over the past years, Marjan van Loon, director of Shell Netherlands, admitted to magazine Elsevier.
A police unit freed two Shell employees who were abducted in Nigeria last week, a Shell spokesperson said on Tuesday. The two are doing well, according to the spokesperson, NU.nl reports.
The two employees were abducted during a work outing at Rumuji in the Niger Delta last week Thursday. Their police escort was killed during the attack. On Tuesday morning the two employees were rescued by a police commando team from the southern state of Rivers.
The left-wing opposition parties GroenLinks, SP and PvdA want multinationals like Shell to pay profit tax in the Netherlands. They are submitting a bill to achieve this to the Tweede Kamer, the lower house of Dutch parliament, later this week, NOS reports.
From next week Wednesday, Shell will offer customers in the Netherlands the option to pay one cent extra per liter of fuel. The Dutch oil and gas giant will then use that extra money to compensate for CO2 emissions. "This offers customers in the Netherlands an interim solution as long as electric driving is not yet affordable for everyone", Marjan van Loon, director of Shell Nederland, said to NOS.
The works councils of 17 large companies in the Netherlands are calling on politicians to be careful of what measures they implement to decrease greenhouse gas emissions. They worry about what effect a possible CO2 tax will have on the industry, they said in an open letter in the Volkskrant.
A criminal case is being prepared against Dutch oil and gas giant Shell. The company is suspected of paying bribes for the exploitation rights of an oil field off the coast of Nigeria, Shell said on its website and the Dutch Public Prosecutor confirmed to NOS.
The Prosecutor told NOS that the investigation is almost complete and they are working on the criminal prosecution of Shell.
This case involves the acquisition of the rights to oil field OPL-245. Shell, together with Italian energy group Eni, paid 1.3 billion euros for these rights in 2011.
Four Nigerian women are suing Shell in the court in The Hague. They're demanding apologies and compensation from the Dutch oil and gas giant for the execution of their husbands in Nigeria in 1995. According to the widows, and Amnesty International who is supporting them, Shell encouraged the then military regime to unlawfully arrest and detain their husbands because they were critical of Shell and the regime, RTL Nieuws reports.
Oil and gas giant Shell and pension provider PGGM plan to jointly acquire energy company Eneco, the companies announced in a press statement. They plan to keep Eneco's green character, ANP reports.
Eneco is one of the three largest energy companies in the Netherlands, with approximately 2 million customers. A total of 53 municipalities are shareholders of Eneco. Rotterdam is the largest, followed by The Hague and Dordrecht with 16.55 percent and 9 percent of the shares respectively. Last year the municipalities decided they wanted to sell their shares.
Shell has not paid any profit tax in the Netherlands for years, despite earning billions of euros in the country every year, newspaper Trouw reports based on "well informed" sources and a confidential internal document from the Ministry of Finance.
Dutch companies like Shell, Boskalis and Van Oord may face sanctions if they remain connected to the Nord Stream 2 project, according to Pete Hoekstra, the United States Ambassador to the Netherlands. If the companies are sanctioned, they could find it difficult to do business with the U.S., NOS reports.
Activists blocked access to NAM's Tankenpark in Farmsum, Groningen on Tuesday morning in a protest against gas extraction in the province. According to action group Code Rood, more than 700 people gathered at the gates. The group wants to block the entrance for several days, ANP reports.
Minister Eric Wiebes of Economic Affairs and Climate reached an agreement with Shell and ExxonMobil about gas production in Groningen. The government and NAM will invest at least 1 billion euros into quality of life in the gas mining area.
Prime Minister Mark Rutte refused to answer substantive questions about a tax deal between Shell and the Tax Authority in the Tweede Kamer on Tuesday, leaving parliamentarians furious.
Like Shell, Unilever also came up with a construction that should ensure that its British shareholders will not have to pay dividend tax now that the Dutch-British company will be based in the Netherlands, RTL Nieuws reports.
The Tweede Kamer, the lower house of Dutch parliament, wants the government to explain a controversial deal that Shell made with the Dutch tax authorities in 2005. As a result of this deal, Shell's British shareholders are exempt from dividend tax in the Netherlands, through which the Dutch treasury lost out on over 7 billion euros, newspaper Trouw reported on Saturday.
Nearly all shareholders of Shell voted against a resolution by action group Follow This on Tuesday. The resolution called on Shell to impose stricter environmental targets. Almost 95 percent of the cast votes were against the resolution, ANP reports.