Shell will leave the Netherlands in favor of London and move its headquarters there, which ministers regard as a major victory for post Brexit Britain.
According to the FTSE 100 oil company, it is looking to simplify its double structure into one UK-based business.
And the company will drop the ‘Royal Dutch’ part of its name, which it has held since 1907.

Capital idea: FTSE 100 oil giant Shell said it wants to abandon its current dual structure and simplify into one company headquartered in the UK on London’s South Bank (pictured)
Business Secretary Kwasi Kwarteng hailed the move, saying it was a ‘clear vote of confidence in the British economy as we work to strengthen competitiveness, attract investment and create jobs’.
Shell said it would shift its headquarters to London to help accelerate efforts to make the company a major player in renewables. It produced about 2m oil barrels per day just before the pandemic.
Analysts suggested that it could take on the legal pressure from Shell’s Netherlands case, which has made Shell accelerate the achievement of its carbon goals.
According to a May court decision, the group has to cut its net carbon emissions by 45% by 2030.
Shell had vowed to reach net zero – meaning it will balance out any emissions it produces – by 2050. Campaigners were furious that Shell had not stated its goal for 2030.
They are appealing the ruling. Ben van Beurden, chief executive of the company, has stated repeatedly that they will only be able invest in green technologies if it uses the huge amounts of oil and gas revenue.

According to industry sources, van Beurden – who is Dutch – has been pondering a move to London since he took over as chief executive in 2014.
Shell, which was founded in 2005 and has its global headquarters at The Hague since then, is registered in The Netherlands to tax purposes.
But under new plans, all meetings of executives and board members will happen in the UK, while van Beurden and finance boss Jessica Uhl will move permanently to Shell’s UK headquarters on London’s South Bank.
The plans will require approval from shareholders at the December 10th vote.
It comes just after Third Point, an aggressive hedge-fund led by Daniel Loeb built up a large stake in Shell and is asking it to be split into multiple entities. Shell, however, has not responded to this request.

Long-term plan for Shell: Industry sources claim that Shell chief executive Ben van Beurden (Dutch) has been considering moving to London ever since taking over in 2014.
Shell’s shares rose 1.4 per cent, or 23.8p, to 1680.8p last night, as investors and British officials welcomed the plans.
But Dutch politicians said the move was an ‘unwelcome surprise’ and are now making 11th hour attempts to keep Shell in the country.
Dutch officials claimed that they wanted to reach a last minute majority of parliament in order to abolish the controversial dividend tax at 15%, which Shell had previously complained about.
Shell claims it will continue to list in New York City and Amsterdam. Shell also says that it will be easier for investors to understand its London headquarters and how it purchases back shares.
After the last pandemic, the company slashed its dividends by nearly two-thirds. Now the company is more dependent on buybacks to return cash to shareholders.
Adam Matthews, chief responsible investment officer at Shell investor, the Church of England Pensions Board, said: ‘If this decision will enable the company to be more agile in executing its transition to net zero and strengthening shareholder rights, then it should be viewed positively.’
However, he said Shell shouldn’t use this deal to escape from the May court ruling.
Shell said its move to the UK will have ‘no impact’ on these legal proceedings or any others in progress. Two weeks ago, when it reported third-quarter profits of £3billion, Shell said it would slash emissions by 50 per cent by 2030 – though it could only do so using oil and gas money.