Addressing the event, Minister of Foreign Affairs and Trade Peter Szijjarto acknowledged the company's history in Hungary and its existing partnership with the country.

In a statement issued by his ministry, Szijjarto noted that he had earlier negotiated a six-year contract with Shell on the delivery of an annual 250 million cubic metres of LNG to Hungary via the Krk terminal in Croatia.

"I hope that we can sign a new contract after that one expires in 2027," he added.

Summary of Shell's Story

Origins in Seashells (1833–1897)

* Founded in 1833 by Marcus Samuel Sr. as a London antiques shop selling decorative seashells.
* His sons expanded into oil transport in the 1880s, commissioning the SS Murex (1892) — the world’s first oil tanker capable of traversing the Suez Canal 
* In 1897, they formally established the Shell Transport and Trading Company, deriving its name from their seashell business 

Formation of Royal Dutch Shell (1907)

* On April 23, 1907, Shell Transport merged with the Royal Dutch Petroleum Company to better compete globally, particularly against Standard Oil 

* The merged entity operated under a dual-listed partnership, maintaining distinct legal entities in the UK and the Netherlands 

Expansion & Innovation (1908–1930s)

* Rapid global growth included establishing operations across Europe, Asia, North and South America, and developing key oilfields in Borneo, Mexico, and Venezuela
* In 1919, Shell entered the chemicals industry; by the 1930s, they were pioneering in petrochemicals.

War and Inter-war Periods (1914–1945)

* Supplied fuel and transport for Allied forces during World War I; supported aviation and naval efforts.
* Launched transatlantic aviation fuels and backed expeditions like Alcock & Brown's flight (1919) and Antarctic explorations.
* During World War II, Shell’s refineries and tankers were commandeered for the war effort, driving innovation in fuel technology.
 

Further Growth & Diversification (1950s–1980s)

* Began commercial natural gas production in Groningen in 1958 
* Continued diversification in chemicals, LNG, and mining (e.g., acquired Billiton in 1970) 
 * By the late 1920s, Shell had become the world’s largest integrated oil company.

Corporate Restructuring & Challenges (1990s–2010s)

* The 1999 Brent Spar environmental controversy accelerated sustainability focus.
* Simplified from its dual-listed structure in 2005 to a single parent, Royal Dutch Shell plc, listed on LSE, NYSE, and Euronext .
* Major acquisitions included BG Group in 2016, boosting LNG and deepwater capabilities.

Recent Era & Rebranding (2020s)

* In November 2021, unified under the name Shell plc, relocated headquarters to London and dropped the “Royal Dutch” designation 
* Committed to becoming a net-zero emissions energy business by 2050, targeting low-carbon fuels, renewables, and emissions intensity cuts by 2030 

Key Characteristics & Scale Today

* One of the world's largest energy companies, with ~90,000 employees across 70+ countries 
* Vertically integrated across upstream (oil & gas), downstream (refining & marketing), integrated gas/LNG, chemicals, and renewables 
* 2024 revenues reached around US $284 billion, with net income of $16.5 billion 

Present Day – Looking Ahead

Reflecting on more than 185 years of Shell’s history reveals an extraordinary journey. Just as humanity has continually adapted through rapid change and global upheaval, Shell too has evolved with the times. Yet, the future brings even greater challenges.

Today, the world faces an unprecedented dilemma: how to meet growing energy demands while significantly reducing carbon emissions.

Shell is actively engaged in transforming the global energy system. The company sees real commercial potential in contributing to the global push for more sustainable, cleaner energy solutions. A key priority is to thrive as the world shifts toward a low-carbon future — supported by Shell’s strategic vision, diversified portfolio, and robust financial foundation, which together offer long-term resilience.

Understanding the implications of climate change remains one of the most critical strategic issues for Shell’s leadership. In rising to this challenge, Shell remains committed to working closely with society and its customers — just as it has done for nearly two centuries.

In Summary

From selling seashells in 19th-century London to becoming a leading global energy powerhouse, Shell’s journey is marked by innovation, strategic mergers, diversification, and environmental adaptation. Now rebranded as Shell plc, the company is steering toward sustainability and cleaner energy solutions while retaining its core presence in oil, gas, chemicals, and LNG.

Source: MTI – Hungary’s national news agency since 1881. While MTI articles are usually factual, some may contain political bias, and readers should be aware that such content does not reflect the position of XpatLoop, which is neutral and independent.

Since the goal of XpatLoop is to keep readers well briefed, right across the spectrum of opinions, MTI items are shared to ensure readers are aware of all narratives within the local media.

XpatLoop believes in empowering readers to form their own views through complete and comprehensive coverage. To facilitate this XpatLoop has a balanced range of news partners, as you can see when you surf around XpatLoop.com

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