Shell (RDS.A) to Mandate COVID-19 Vaccines for Offshore Workers
Shell (RDS.A) is considering imposing a vaccine mandate for specific operations, which would include offshore operations, mainly in the Gulf of Mexico...
Royal Dutch Shell plc (RDS.A) is planning to mandate COVID-19 vaccinations for employees in specific locations.
The decision to mandate vaccines was made as the White House campaign urged major U.S. employers to get their workers vaccinated in an attempt to prevent the resurgence of the pandemic.
Per an internal memorandum, Shell will follow the ongoing policy of strong advocacy for vaccination but there will be no compulsion. However, the company is considering imposing a vaccine mandate for specific operations. These would include offshore operations, mainly in the Gulf of Mexico, which the company has been actively exploring. If refused, employees could face termination.
Shell's trading division already imposed a vaccine mandate as it is impossible to maintain social distancing on a trading floor. The company, which is the most prolific operator in the Gulf of Mexico, requires workers and contractors to undergo medical screening and a negative test within 48 hours of departure.
Offshore outbreaks continuously disrupted production and put lives at risk. Due to its enclosed nature, it is difficult to keep a safe space between people. Evacuations continue to prove costly, disruptive and hazardous to helicopter pilots. Hence, the notion of vaccine mandates is being embraced all over the world.
Oil companies Chevron Corporation CVX and Pioneer Natural Resources Company PXD recently announced that they require new hires and certain fields to get vaccinated against the virus. Refiner Valero Energy Corporation VLO also imposed a blanket vaccine requirement as a recruitment condition for new workers at its Louisiana and Texas facilities.
Overall, it seems that a growing number of energy operators are requiring workers to get the vaccination as the outbreak has proved particularly prolific in the south of the United States, where most oil operations take place.
Company Profile & Price Performance
Shell is one of the primary oil majors — a group of U.S. and Europe-based big energy multinationals. The company is fully integrated, as it participates in every aspect related to energy from oil production to refining and marketing.
Shares of the company have outperformed the industry in the past three months. The stock has declined 2.7% compared with the industry’s 7.1% fall.
Image Source: Zacks Investment Research
Shell currently sports a Zack Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Chevron Corporation (CVX): Free Stock Analysis Report
Royal Dutch Shell PLC (RDS.A): Free Stock Analysis Report
Valero Energy Corporation (VLO): Free Stock Analysis Report
Pioneer Natural Resources Company (PXD): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research