Shell will review £25bn of investments in British projects after the chancellor extended the windfall tax on energy companies, its UK chairman has told Sky News.
Shell announced a £25bn programme of investment five months ago but Mr Bunch said the government's move, intended to help fund energy support and balance the national balance sheet, meant it would be re-examined. "But we are going to have to look at each of those projects on a case-by-case basis and re-evaluate them, based on the current fiscal outlook, and that will determine whether or not we invest to the amount we previously discussed."
I still say they can stop Making those terrible Wind Fall Profits by simply shutting down refineries 1 week a month and laying off employees those weeks. Surely they won't make as much Profit as when refining every week. They should make 25% less money....+-.
boohoo poor shell
Many of my friends say simple answer - extend more windfall tax on record earning oil and energy companies - many people confused why energy bills keep rising uncontrolled every 6 months - time for more windfall tax on shell bp edf scottishpower
Just pure GREED by shell
Who knew?
Dodgy dealings
An empty threat as the space left by them will be taken by a competitor which they won't let happen
The brass neck of this arrogant fool.
The key word here is ‘review’. If the investment makes money it will go ahead if it doesn’t it wont. A tax on windfall profits makes no difference to that equation. Windfall = unforeseen. No investment decision takes into account the “unforeseeable”.
Blackmail now from one of the giants !
And here it starts all those who keep shouting for windfall tax when energy companies pull there investments out it’s your fault. Energy companies pay more tax than any other business already
Review away
The UK is screwed
Like they were going to invest anyway ffs
Royal Dutch Shell asset stripping the U.K.!
What an utterly appalling stance from Shell. The Gov try to help the hardest hit and they hit us with a £25b threat!! boycottshell
That's what windfall taxes do
I'd screw them more ..greed of a company shell customers please do the right thing leave shell
The British public need to tell Shell where to stick it. They’re showing their true colours now. What a terrible company. Time for Great British Energy.
Greedy shell say there be no investment, then Take all the £25 billion and the government invests the £25 billion on helping the workimg class / poor ....simply really ..!
Keir_Starmer keeps telling us ANY windfall tax wont have any effect on investment? Is this another broken pledge or does he just not understand? 🤔
Whatever. Charge them 26 billion.
🤣🤣 More capitalist threatening to remove their business if the U.K. government don’t behave in the manner they want! Thought the U.K. has control of its borders, money and law arguments was settled with Brexit! Didn’t the global capitalist get the message! Oh dear! 🤣🤣
Tax them more!
Typical of Shell. let’s threaten them and they will fold and we will carry on making obscene profits
2 Dec 2021Shell has pulled out of a controversial new oilfield off the Shetland Islands, plunging the future of oil exploration in the area into doubt. Shell, which was planning to exploit the field...
While she'll had access to cambo oil fields in shetlands 4 Nov 2021The conservative government wholeheartedly supports the new Cambo oilfield off the coast of Shetland,
Wow no one predicted that... oh
Shell ordered to stop buying Russian oil Were they charging customers for this
You mean Shell that’s posted net income of over $1,350 PER SECOND through YTD Q3 2022?
Time to introduce a review tax then.
Let’s sting them treble then an ban there fuel forecourts the min they “review” there projects they have milked the British isles enough over the years !
These left pricks will bring mass poverty
Well I hope they just hand that amount over and crack on. I’m sure they’ll rush away from the UK in a fit of peak. Ridiculous right wing spin.