Displaying items by tag: Shell profits

Sanctioned Russian oligarchs from Putin's inner circle have exploited a UK secrecy loophole left open by the Government. They use a type of company which does not need to identify its real owners known as an English Limited Partnerships (ELP). ELPs are also linked to fraud, terrorism and money laundering. Since 2017 over 4,500 have been set up to dodge anti-money laundering laws which require the real owners to be disclosed. Pray for the UK Economic Crime Programme, police and government to make ELPs illegal. Meanwhile Shell Plc has given employees a ‘Special Recognition Award’, equivalent to 8% of their annual salary, after recording profits for a second consecutive quarter thanks to soaring oil and gas prices and legally strong refining margins. The one-time payment will be made to most of Shell’s 82,000 employees. Shell said the award was not a response to the rising cost of living. See

Electricity and gas bills for a typical household will go up by 54% in April because the energy price cap - the maximum amount suppliers in Great Britain can charge consumers - has been raised. Meanwhile oil giant Shell announced a huge increase in profits, four times the level recorded last year. The new price limit means 18 million households will pay £1,971 a year for gas and electricity. Another 4.5 million people on prepayment metres will see a bigger increase. The Chancellor plans to soften the blow via council tax rebates and help with bills. This would provide the majority of families with a total of £350 to help them adjust to higher prices. However many believe that with profits booming in recent months because of the spike in energy prices, the North Sea oil and gas producers who have recently made a fortune should be asked to contribute to ease the cost of living catastrophe.