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Shell shock warning on plot to move listing to New York could fuel oil and gas exodus By DAILY MAIL CITY & FINANCE REPORTER Updated: 22:00, 1 January 2025 e-mail View comments Shell will face questions over its future on London’s stock market in 2025 in what is set to be a crucial year for the energy giant, writes Jessica Clark. Chief executive Wael Sawan has warned he will consider moving its listing to New York if attempts to boost its valuation in the UK do not pay off. He set a deadline to increase value and cut costs by the end of 2025 before taking more drastic measures, which could include ditching London for the US.
Such a move would be a major blow for the City as Shell is one of the biggest companies in the FTSE 100 with a valuation of almost £152billion. It is feared that Shell’s exit would prompt rival exploration giants such as miners Rio Tinto and Glencore and oil and gas group BP to follow suit. ‘I have a location that is clearly undervalued,’ Sawan told Bloomberg in April.
Valuation gap: Shell chief Wael Sawan (pictured) has warned he will consider moving its listing to New York if attempts to boost its valuation in the UK do not pay off RELATED ARTICLES Previous 1 Next Stormy times ahead for investors with UK now seen as an...
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Share this article Share HOW THIS IS MONEY CAN HELP How to choose the best (and cheapest) stocks and shares Isa and the right DIY investing account He said the oil giant was on a ‘sprint’ to close the valuation gap with US rivals ExxonMobil and Chevron by the end of next year. If no improvement was made, Sawan said the firm would look at ‘all options’ including the possibility of moving its share listing to New York. ‘If we work through the sprint and we still don’t see that the gap is closing, we have to look at all options,’ he said.
Shell declined to comment on its plans for 2025. DIY INVESTING PLATFORMS AJ Bell AJ Bell Easy investing and ready-made portfolios Learn More Learn More Hargreaves Lansdown Hargreaves Lansdown Free fund dealing and investment ideas Learn More Learn More interactive investor interactive investor Flat-fee investing from £4.99 per month Learn More Learn More Saxo Saxo Get £200 back in trading fees Learn More Learn More Trading 212 Trading 212 Free dealing and no account fee Learn More Learn More Affiliate links: If you take out a product This is Money may earn a commission.
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