Royal Dutch Shell to change name from January 2022

The board of directors of the Anglo-Dutch oil and gas corporation Royal Dutch Shell continues its restructuring activities, Report informs citing the company’s message that it was decided to shorten the corporation’s name to Shell from January 24, 2022.

This decision was made following the completion of consultations between the company's central administrative apparatus in the Netherlands and the European council of Shell, as well as after a December 10 vote in the Board of Directors.

The corporation is engaged in the production and processing of hydrocarbons in more than 70 countries. In November, the Board of Directors proposed changes to the company's charter to simplify its share capital structure and bring it in line with other companies.

The company's restructuring measures include the transition to a single line of shares from the structure of shares of classes A and B, change of tax residency to the UK. The shareholders will retain their existing legal, ownership, and capital distribution rights. The company's shares will continue to be listed in Amsterdam, London, and New York.