Replies to post #494 on Shell Plc (SHEL)

[DewDiligence]

SHEL derives only 4% of its global profit from the UK, so the “windfall profits” tax will barely affect the bottom line.

[DewDiligence]

SHEL pushes back on UK’s increased “windfall” tax:

https://finance.yahoo.com/news/shell-reconsiders-25bn-investment-uk-190314142.html

[UK’s Chancellor of the Exchequer] increased the so-called energy profits levy on North Sea oil and gas producers from 25% to 35%, while also announcing it would be in place until 2028 rather than 2025, adding £19.4bn to the existing bill.

SHEL’s outgoing CEO has been barking that SHEL’s taxes are too low (#msg-170300650), so the company’s pushback now doesn’t have much oomph, IMO.