Shell is planning to become a completely British company and will move its headquarters from The Hague to Britain, the oil and gas giant said in a press release on Monday. 

Shell says that by simplifying its structure, it will be able to react more quickly and more flexibly. ‘The simplification is designed to strengthen Shell’s competitiveness and accelerate both shareholder distributions and the delivery of its strategy to become a net-zero emissions business,’ the company said. 

Shell has been incorporated in the UK with Dutch tax residence and a dual share structure since 2005 but its origins as a dual company date back to 1907 when Koninklijke Olie merged with Shell Transport and Trading.

The company said it is ‘proud of its Anglo-Dutch heritage and will continue to be a significant employer with a major presence in the Netherlands.’ The plan will be put to shareholders at a meeting in Rotterdam on December 10.

Shell plans to put an end to its current 'A' and 'B' share structure, in a change it says will make life simpler for investors and also speed up share buybacks.

Instead of the current dual share structure, the oil major plans for a conventional single share structure. This would allow for an acceleration in distributions by way of share buybacks, reduce risk for shareholders, and let Shell manage its portfolio with greater flexibility, the company said.

Energy Country Review: Shell Netherlands country profile   l   Shell UK country profile