Shell

[Jaffa_The_Hut]

Just announced another £6 billion profit for the last quarter to September.

No doubt the others will be announcing similar profits any time soon.

Anyone else noticed the last week or two prices at the pumps rising again? Must be getting ready for some eye watering Christmas bonuses for its board of directors.

 

[bollieboy]

Just announced another £6 billion profit for the last quarter to September.

No doubt the others will be announcing similar profits any time soon.

Anyone else noticed the last week or two prices at the pumps rising again?

Underlying profits were actually £8.2 billion. They practically have a licence to print money at the moment.

 

[Jaffa_The_Hut]

Underlying profits were actually £8.2 billion. They practically have a licence to print money at the moment.

Yer didn’t realise I said £6 billion meant to post £8 billion.

Where’s the windfall tax when you need it?

 

[tangerine_neil]

Brent price has gone up this week. They are very quick to put the prices up and slow to reverse if Brent falls.
My biggest current moan is some of the garages charging extortionate E5* (97+ octane) prices (only displayed on the pump, not the main board). I’m now boycotting certain garages taking advantage of these stealth tactics. e.g. 20p more, per litre than E10.

 

[Lost Seasider]

Yer didn’t realise I said £6 billion meant to post £8 billion.

Where’s the windfall tax when you need it?

65p in the £1 for all UK production, but it's a lot harder to super-tax the overseas earnings.

 

[Wizaard]

Just announced another £6 billion profit for the last quarter to September.

No doubt the others will be announcing similar profits any time soon.

Anyone else noticed the last week or two prices at the pumps rising again? Must be getting ready for some eye watering Christmas bonuses for its board of directors.

Gone up 9p round our way.

 

[Whitstabletangerine]

I paid £1.659 litre at the local supermarket last night, with £25 going to the government in taxes, I know a very small part of the £26 billion the government will take from the pumps this year but every little helps.

 

[Ollygon]

Most of us know this will plug a lot of the Government deficit for this year, oh that is except the tax cutting Tories

 

[foggy]

65p in the £1 for all UK production, but it's a lot harder to super-tax the overseas earnings.

Is it 65p for all UK production or just excess profits from the current crisis?

 

[Lost Seasider]

Is it 65p for all UK production or just excess profits from the current crisis?

No such thing as "excess profits" in tax law.

 

[foggy]

No such thing as "excess profits" in tax law.

Shell haven't paid a single penny in windfall tax despite making record profits and giving their shareholders a fat dividend bonus. As people have been calling for a bigger and better windfall tax you've been throwing this 65% figure around as if we cannot possibly ask for any more, when it is quite clearly a terribly designed tax with massive loopholes, stock buy backs and tax relief that allows Shell to skirt their obligations.

 

[Lost Seasider]

Shell haven't paid a single penny in windfall tax despite making record profits and giving their shareholders a fat dividend bonus. As people have been calling for a bigger and better windfall tax you've been throwing this 65% figure around as if we cannot possibly ask for any more, when it is quite clearly a terribly designed tax with massive loopholes, stock buy backs and tax relief that allows Shell to skirt their obligations.

You have a source for any of that?

 

[foggy]

You have a source for any of that?

Which bit?

 

[Lost Seasider]

Which bit?

Not paid a penny would be a good start, followed by a detailed explanation of how the tax works and why it's "terribly designed".

 

[foggy]

Not paid a penny would be a good start, followed by a detailed explanation of how the tax works and why it's "terribly designed".

www.bbc.co.uk/news/business-63409687.amp

Numbers on stock buybacks here

Shell paid zero windfall tax in UK despite record global profits

Labour calls for ‘proper windfall tax’ on oil and gas while TUC describes profits as ‘obscene’

www.google.com

Article talking about how much could be raised by taxing stockbuybacks, which is a ludicrous tax dodge which was once illegal.

Shell and BP windfall tax on share buyback profits could raise £4.8bn

A new report suggests taxing stock buyback and dividend profits could help UK households amid the cost of living crisis and tackle rising inflation.

www.google.com

 

[Lost Seasider]

www.bbc.co.uk/news/business-63409687.amp

Numbers on stock buybacks here

Shell paid zero windfall tax in UK despite record global profits

Labour calls for ‘proper windfall tax’ on oil and gas while TUC describes profits as ‘obscene’

www.google.com

Article talking about how much could be raised by taxing stockbuybacks, which is a ludicrous tax dodge which was once illegal.

Shell and BP windfall tax on share buyback profits could raise £4.8bn

A new report suggests taxing stock buyback and dividend profits could help UK households amid the cost of living crisis and tackle rising inflation.

www.google.com

The UK-headquartered oil company said it had not paid the levy and did not expect to throughout 2022, because its British corporate entity did not make any profits during the quarter, in part, because of heavy spending on drilling more oil in the North Sea.

So plusses and minuses there, they're obviously accelerated investment projects so that the expenditure can be relieved at the 65% rate rather than the normal 40% one, so no profits = no windfall = no windfall tax, but the flip side is that prices are high because oil/gas is in short supply, so investment in future production is good and should be encouraged.

 

[Wizaard]

The UK-headquartered oil company said it had not paid the levy and did not expect to throughout 2022, because its British corporate entity did not make any profits during the quarter, in part, because of heavy spending on drilling more oil in the North Sea.

So plusses and minuses there, they're obviously accelerated investment projects so that the expenditure can be relieved at the 65% rate rather than the normal 40% one, so no profits = no windfall = no windfall tax, but the flip side is that prices are high because oil/gas is in short supply, so investment in future production is good and should be encouraged.

No profits other than an unexpected £8 billion. Was it the BP CEO who said they didn't know what to spend all the profits on, they had that much?

 

[foggy]

The UK-headquartered oil company said it had not paid the levy and did not expect to throughout 2022, because its British corporate entity did not make any profits during the quarter, in part, because of heavy spending on drilling more oil in the North Sea.

So plusses and minuses there, they're obviously accelerated investment projects so that the expenditure can be relieved at the 65% rate rather than the normal 40% one, so no profits = no windfall = no windfall tax, but the flip side is that prices are high because oil/gas is in short supply, so investment in future production is good and should be encouraged.

So they haven't paid any windfall tax despite increased dividends and billions spent in stock buybacks. So we can throw this '65% and they can't afford a penny more' nonsense out of the window. Saw this coming a mile away.

 

[Lost Seasider]

So they haven't paid any windfall tax despite increased dividends and billions spent in stock buybacks. So we can throw this '65% and they can't afford a penny more' nonsense out of the window. Saw this coming a mile away.

Most of those profits come from overseas.

 

[Wizaard]

Most of those profits come from overseas.

Another Brexit dividend where they've moved big chunks out of the country then.

Or is it nothing to do with Brexit, like nothing ever is.

 

[foggy]

Most of those profits come from overseas.

This doesn't change a single thing I said, or have ever said on the matter.

 

[traffordtang]

No profits other than an unexpected £8 billion. Was it the BP CEO who said they didn't know what to spend all the profits on, they had that much?

Well they’re “rewarding” their shareholders with a 15% increase in dividends so that’s ok then. While I’m sitting here freezing on the outside I’ll feel all warm inside knowing I’m helping the needy shell shareholders to earn a bit more.