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Shell dropped from its name the «Royal Dutch» part, which it had carried for 130 years

Euronext Amsterdam and the London Stock Exchange will reflect today Shell’s name change

Shell dropped from its name the «Royal Dutch» part, which it had carried for 130 years

London, January 25 - Neftegaz.RU. Europe's biggest energy firm Shell announced the move last November, arguing that it was necessary to simplify the company's structure.
Nevertheless, critics say Shell's decision was motivated by a Dutch court ruling that ordered the company to reduce its carbon emissions by 45 percent by 2030.

The decision took the Dutch government by surprise, the Dutch government said that it had been «unpleasantly surprised» by Shell’s proposal to move its headquarters to the U.K.

The London and Amsterdam stock exchanges will reflect the name change today, on Jan. 25, while the New York Stock Exchange will follow on Jan. 31.
The change will not affect share ownership and the A shares and B shares will remain unchanged for the time being.

In 1907, the decision was taken to merge Shell Transport and Trading Company with Royal Dutch and form the Royal Dutch Shell Group.
The business is now a global group of energy and petrochemical companies with more than 80,000 employees in more than 70 countries, according to its site.

Shell's history is inextricably linked to that of the Netherlands.
Despite retaining a significant presence in the Netherlands, the oil giant said it expected that it would «no longer meet the conditions for using the honorary Royal designation», which it has carried for more than 130 years.

Source : Neftegaz.RU


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