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Shell Shares Hit Lowest Point Since 1995  | Rigzone

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While many investors have welcomed the new direction, others question a pivot into less-profitable renewables</p> <p>Shell&rsquo;s B shares closed at 907.3 pence on Thursday, the lowest level since November 1995. It&rsquo;s London-based competitor BP Plc also fell to a 25-year low for a&nbsp;second week&nbsp;running, closing at 218.2 pence.</p> <p>The Anglo-Dutch major announced Wednesday as many as 9,000 job losses by the end of 2022, which it predicts will result in cost&nbsp;savings&nbsp;of as much as $2.5 billion dollars. The redundancies are part of a wider restructuring of the company as it seeks to slash its greenhouse gas emissions and move into cleaner energy.</p> <p>Shell and its peers have been battling with the impact the coronavirus pandemic has had on global demand and oil prices. The major slashed its&nbsp;dividend&nbsp;for the first time since the Second World War, as well as capital spending earlier this year, in a bid to reduce costs.</p> <p>The stock has declined 59% year-to-date, compared to 22% for the FTSE 100 Index. Shell&rsquo;s competitors BP Plc are down 54% this year, while Total has fallen by 42%.</p> <p><em>&copy;&nbsp;2020&nbsp;Bloomberg L.P.</em></p> ", "headline": "Shell Shares Hit Lowest Point Since 1995", "about": { "@type": "Thing", "description": "Royal Dutch Shell Plc dropped to the lowest in 25 years a day after announcing a companywide overhaul" }, "articleSection": "Company_Operations", "mainEntityOfPage": "https://web.archive.org/web/20201004084921/https://www.rigzone.com/news/wire/shell_shares_hit_lowest_point_since_1995-01-oct-2020-163450-article/", "image": "//web.archive.org/web/20201004084921/https://images.rigzone.com/images/news/articles/163450_582x327.png", "publisher": { "@type": "organization", "name": "rigzone.com", "url": "https://web.archive.org/web/20201004084921/https://www.rigzone.com", "description": "oil and gas news", "logo": { "@type": "ImageObject", "url": "https://web.archive.org/web/20201004084921/https://images.rigzone.com/images/rigzone-logo-a.png", "height": "60", "width": "225" } }, "author": { "@type": "person", "name": "Bloomberg" }, "audience": { "@type": "Audience", "audienceType": "BusinessAudience" } } </script> <script type="text/javascript"> //cannot be deleted unitl fix all the code var _gaq = _gaq || []; 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While many investors have welcomed the new direction, others question a pivot into less-profitable renewables</p> <p>Shell&rsquo;s B shares closed at 907.3 pence on Thursday, the lowest level since November 1995. It&rsquo;s London-based competitor BP Plc also fell to a 25-year low for a&nbsp;second week&nbsp;running, closing at 218.2 pence.</p> <p>The Anglo-Dutch major announced Wednesday as many as 9,000 job losses by the end of 2022, which it predicts will result in cost&nbsp;savings&nbsp;of as much as $2.5 billion dollars. The redundancies are part of a wider restructuring of the company as it seeks to slash its greenhouse gas emissions and move into cleaner energy.</p> <p>Shell and its peers have been battling with the impact the coronavirus pandemic has had on global demand and oil prices. The major slashed its&nbsp;dividend&nbsp;for the first time since the Second World War, as well as capital spending earlier this year, in a bid to reduce costs.</p> <p>The stock has declined 59% year-to-date, compared to 22% for the FTSE 100 Index. Shell&rsquo;s competitors BP Plc are down 54% this year, while Total has fallen by 42%.</p> <p><em>&copy;&nbsp;2020&nbsp;Bloomberg L.P.</em></p> </div> <br class="clear"/> <div id="social_bar"> <div class="rz-social-wrapper"> <!--Twitter Start--> <div class="rz-social-boxes"> <a href="https://web.archive.org/web/20201004084921/https://twitter.com/share" class="twitter-share-button" data-via="rigzone" data-url="https://web.archive.org/web/20201004084921/https://www.rigzone.com/news/wire/shell_shares_hit_lowest_point_since_1995-01-oct-2020-163450-article/?utm_source=GLOBAL_ENG&amp;utm_medium=SM_TW&amp;utm_campaign=SHARE_DESKTOP">Tweet</a> <script> !function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0], p = /^http:/.test(d.location) ? 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