Shell buys Russian oil @ firesale price

Shell PLC has snapped up a cargo of Russian crude at a bargain price, ending a self-imposed embargo on Russian oil by the international energy industry.

Shell bought 100,000 metric tons of Russia’s flagship Urals crude on Friday, according to people familiar with the transaction. It paid $28.50 a barrel below the price of international benchmark Brent crude, the widest discount on record. …

https://www.wsj.com/livecoverage/russia-ukraine-latest-news-…

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The question is “Who got the money, Russia or some oil trader?”

Russia, bad. Oil trader, OK.

The Captain

The question is “Who got the money, Russia or some oil trader?”

Yes, indeed!

Another question is, “at what price will Shell re-sell?”

We probably already know the answer to that one. Easy supply, wonderful demand.

Pete

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The USA has a long history of war profiteers.

Wall Street & banks are snapping up Russia’s corporate bonds on the cheap. Profits uber alles!

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Shell PLC has snapped up a cargo of Russian crude at a bargain price…

“The time to buy is when there’s blood in the streets.”

  • Baron Rothschild, an 18th-century British nobleman and member of the Rothschild banking family

Rothschild made a fortune buying in the panic that followed the Battle of Waterloo against Napoleon.

DB2

Name changed from Royal Dutch Shell to just Shell.

When I first read an article about the name change, I thought it was close in timing to the decision to buy the Russian oil.

But the name change was two months ago. Shell HQ moved from The Netherlands to London.

First board meeting in London was 12/31.

Royal Dutch no more — Shell officially changes name
https://www.cnbc.com/2022/01/21/royal-dutch-no-more-shell-of…

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Rothschild made a fortune buying in the panic that followed the Battle of Waterloo against Napoleon.

DB2

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Another war profiteer.

Jaak

Rothschild made a fortune buying in the panic that followed the Battle of Waterloo against Napoleon.

Another war profiteer.

One reacts to news and changing circumstances. For example, I bought Moderna stock after a virus struck the world’s population (eventually killing millions) and the company announced it was working on a vaccine.

MRNA now sells at a PE of less than 5 and I am buying more.

DB2
A pandemic profiteer

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But the name change was two months ago. Shell HQ moved from The Netherlands to London.

First board meeting in London was 12/31.

I thought that with Britain dropping out of the EU, all the big companies were supposed to be moving headquarters from London to the continent…

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I thought that with Britain dropping out of the EU, all the big companies were supposed to be moving headquarters from London to the continent…

Bloomberg has a rather lengthy page, tracking Brexit’s impact on Business:

https://www.bloomberg.com/graphics/2016-brexit-companies-tra…

Then again, for companies seeking to burst the shackles of burdensome EU regulation, and to fully enjoy animal spirits, the opposite move might look attractive.

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SuisseBear

Previous>>I thought that with Britain dropping out of the EU, all the big companies were supposed to be moving headquarters from London to the continent…>>

Bloomberg has a rather lengthy page, tracking Brexit’s impact on Business:
https://www.bloomberg.com/graphics/2016-brexit-companies-tra…

Then again, for companies seeking to burst the shackles of burdensome EU regulation, and to fully enjoy animal spirits, the opposite move might look attractive.

The CNBC article specifically went into the taxation angle. See the article for specifics, but the “EU-LESS” UK was economically more attractive to Shell than Mother Netherlands.

Given Shell’s origins/history, I’d say it was a very deep thought decision. The EU should be put on notice. Not that they will though.

If now Shell, then who’s next? More shoes, for more companies, might be expected to fall.

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See the article for specifics, but the “EU-LESS” UK was economically more attractive to Shell than Mother Netherlands.

Taxes are levied almost exclusively by member states, not the EU as a whole. Tax might have been a driver in their decision but I don’t think Brexit would have changed the situation here. Unless there were expectations of additional future gifts by the UK to the job creators:

Taxation was also a factor in Shell’s decision. With its headquarters and tax home now in the Netherlands, dividends paid on its “A” shares are subject to a 15% Dutch withholding tax. Equal payments for “B” shares are distributed through a “Dividend Access Mechanism” that sees them streamed through a trust registered on the Channel Island Jersey to avoid the Dutch tax.

The new single-share structure and a British tax home will resolve those issues.

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Brexit not that stupid after all?

Getting freedom back not that stupid after all?

Interesting…

The Captain
after all!

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Brexit not that stupid after all?

Getting freedom back not that stupid after all?

Interesting…

The Captain

Yep. Seems antithetical, but just like at the moment of birth of a new born, cauterization of the umbilical might be needed.

Then, after a moment of shock, life begins and prospers.

From an earlier observation of yours: “Shift happens.”

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It paid $28.50 a barrel below the price of international benchmark Brent crude

Yep.

As I stated previously, Russia will have to sell their oil below market prices to get rid of it.

https://discussion.fool.com/so-a-barrel-of-oil-sold-to-china-is-…

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Another war profiteer.

One reacts to news and changing circumstances. For example, I bought Moderna stock after a virus struck the world’s population (eventually killing millions) and the company announced it was working on a vaccine.

MRNA now sells at a PE of less than 5 and I am buying more.

Moderna is up 18% today on news about HIV vaccine trials.

DB2
An HIV profiteer