Shell Share Discussion Threads

[waldron] 02/2/2017 07:32

Shell misses fourth-quarter estimates after $500 million of impairments

Royal Dutch Shell (RDSa.L), Europe's largest oil major, missed analysts' profit expectations for the fourth quarter after booking $500 million (394.5 million pounds) of impairments.

Shell's cost of supplies excluding identified items, its preferred way of measuring profit, was $1.8 billion in the fourth quarter, against analyst expectations of $2.8 billion.

"Earnings were impacted by charges of $0.5 billion related to deferred tax reassessments which were not included as identified items," the company said.

[waldron] 02/2/2017 07:25

Royal Dutch Shell Shell Fourth Quarter 2016 Interim Dividend
02/02/2017 7:06am
UK Regulatory (RNS & others)


TIDMRDSA TIDMRDSB

ROYAL DUTCH SHELL PLC FOURTH QUARTER 2016 INTERIM DIVID

The Board of Royal Dutch Shell plc ("RDS") today announced an interim dividend
in respect of the fourth quarter of 2016 of US$0.47 per A ordinary share ("A
Share") and B ordinary share ("B Share"), equal to the US dollar dividend for
the same quarter last year.

The Board expects that the first quarter 2017 interim dividend will be US$0.47,
equal to the US dollar dividend for the same quarter in the previous year. The
first quarter 2017 interim dividend is scheduled to be announced on May 4,
2017.

RDS provides eligible shareholders with a choice to receive dividends in cash
or in shares via a Scrip Dividend Programme ("the Programme"). For further
details please see below.

Details relating to the fourth quarter 2016 interim dividend

It is expected that cash dividends on the B Shares will be paid via the
Dividend Access Mechanism from UK-sourced income of the Shell Group.

Per ordinary share Q4 2016

RDS A Shares (US$) 0.47

RDS B Shares (US$) 0.47

Cash dividends on A Shares will be paid, by default, in euro, although holders
of A Shares will be able to elect to receive dividends in pounds sterling.

Cash dividends on B Shares will be paid, by default, in pounds sterling,
although holders of B Shares will be able to elect to receive dividends in
euro.

The pounds sterling and euro equivalent dividend payments will be announced on
March 10, 2017.

Per ADS Q4 2016

RDS A ADSs (US$) 0.94

RDS B ADSs (US$) 0.94

Cash dividends on American Depository Shares ("ADSs") will be paid, by default,
in US dollars.

ADS stands for an American Depositary Share. ADR stands for an American
Depositary Receipt. An ADR is a certificate that evidences ADSs. ADSs are
listed on the NYSE under the symbols RDS.A and RDS.B. Each ADS represents two
ordinary shares, two A Shares in the case of RDS.A or two B Shares in the case
of RDS.B. In many cases the terms ADR and ADS are used interchangeably.



Scrip Dividend Programme

RDS provides shareholders with a choice to receive dividends in cash or in
shares via the Programme.

Under the Programme shareholders can increase their shareholding in RDS by
choosing to receive new shares instead of cash dividends, if approved by the
Board. Only new A Shares will be issued under the Programme, including to
shareholders who currently hold B Shares.

In some countries, joining the Programme may currently offer a tax advantage
compared with receiving cash dividends. In particular, dividends paid out as
shares by the Company will not be subject to Dutch dividend withholding tax
(currently 15 per cent), unlike cash dividends paid on A shares, and they will
not generally be taxed on receipt by a UK shareholder or a Dutch shareholder.

Shareholders who elect to join the Programme will increase the number of shares
held in RDS without having to buy existing shares in the market, thereby
avoiding associated dealing costs.

Shareholders who do not join the Programme will continue to receive in cash any
dividends approved by the Board.

Shareholders who held only B Shares and joined the Programme are reminded they
will need to make a Scrip Dividend Election in respect of their new A Shares if
they wish to join the Programme in respect of such new shares. However, this
is only necessary if the shareholder has not previously made a Scrip Dividend
Election in respect of any new A Shares issued.

For further information on the Programme, including how to join if you are
eligible, please refer to the appropriate publication available on
www.shell.com/scrip.

Dividend timetable for the fourth quarter 2016 interim dividend

Announcement date February 2, 2017

Ex-dividend date RDS A and RDS B ADSs February 15, 2017

Ex-dividend date RDS A and RDS B shares February 16, 2017

Record date February 17, 2017

Scrip reference share price announcement February 23, 2017
date

Closing of scrip election and currency March 3, 2017
election (See Note)

Pounds sterling and euro equivalents March 10, 2017
announcement date

Payment date March 27, 2017



Note

Both a different scrip and currency election date may apply to shareholders
holding shares in a securities account with a bank or financial institution
ultimately holding through Euroclear Nederland. This may also apply to other
shareholders who do not hold their shares either directly on the Register of
Members or in the corporate sponsored nominee arrangement. Shareholders can
contact their broker, financial intermediary, bank or financial institution for
the election deadline that applies. A different scrip election date may apply
to registered and non-registered ADS holders. Registered ADS holders can
contact The Bank of New York Mellon for the election deadline that applies.
Non-registered ADS holders can contact their broker, financial intermediary,
bank or financial institution for the election deadline that applies.

Taxation - cash dividends

Cash dividends on A Shares will be subject to the deduction of Dutch dividend
withholding tax at the rate of 15%, which may be reduced in certain
circumstances. Based on a policy statement issued by the Dutch Ministry of
Finance on April 29, 2016 (which has been formalised in law with effect from
January 2017), and depending on their particular circumstances, non-Dutch
resident shareholders may be entitled to a full or partial refund of Dutch
dividend withholding tax.

Furthermore, in April 2016, there were changes to the UK taxation of dividends.
The dividend tax credit has been abolished, and a new tax free dividend
allowance of GBP5,000 introduced. Dividend income in excess of the allowance will
be taxable at the following rates: 7.5% within the basic rate band; 32.5%
within the higher rate band; and 38.1% on dividend income taxable at the
additional rate.

If you are uncertain as to the tax treatment of any dividends you should
consult your own tax advisor.

Royal Dutch Shell plc

The Hague, February 2, 2017

Contacts:

- Investor Relations: Europe + 31 (0) 70 377 4540; North America +1 832 337
2034

- Media: International [phone]; Americas [phone]

[waldron] 02/2/2017 07:23

1. Q4 on Q4 change
2. Attributable to shareholders
3. CCS earnings are defined in Note 3 and CCS earnings attributable to
shareholders in Definition A.
4. See page 7 and Definition B. Comparative information has been restated.

* Royal Dutch Shell's fourth quarter 2016 CCS earnings attributable to
shareholders were $1.0 billion compared with $1.8 billion for the same
quarter a year ago. Full year 2016 CCS earnings attributable to
shareholders were $3.5 billion compared with $3.8 billion in 2015.
* Fourth quarter 2016 CCS earnings attributable to shareholders excluding
identified items were $1.8 billion compared with $1.6 billion for the
fourth quarter 2015, an increase of 14%. Earnings were impacted by charges
of $0.5 billion related to deferred tax reassessments which were not
included as identified items.
* Full year 2016 CCS earnings attributable to shareholders excluding
identified items were $7.2 billion compared with $11.4 billion in 2015.
* Compared with the fourth quarter 2015, CCS earnings attributable to
shareholders excluding identified items benefited from higher contributions
from Upstream and Chemicals, partly offset by lower contributions from
Refining & Trading. Operating expenses were lower, more than offsetting the
impact of the consolidation of BG. Depreciation and net interest expense
increased, mainly resulting from the BG acquisition. Earnings also
reflected higher taxation.
* Fourth quarter 2016 basic CCS earnings per share excluding identified items
decreased by 12% versus the fourth quarter 2015. Full year 2016 basic CCS
earnings per share excluding identified items decreased by 49% versus 2015.
* Cash flow from operating activities for the fourth quarter 2016 was $9.2
billion, which included negative working capital movements of $0.6 billion,
compared with $5.4 billion in the fourth quarter 2015, which included
favourable working capital movements of $1.6 billion.
* Gearing at the end of 2016 was 28.0% (2015 14.0%). There was an increase of
9.7% on acquisition of BG.
* A fourth quarter 2016 dividend has been announced of $0.47 per ordinary
share and $0.94 per American Depositary Share ("ADS").
* Royal Dutch Shell is expected to announce a dividend of $0.47 per ordinary
share and $0.94 per ADS in respect of the first quarter 2017.

Royal Dutch Shell Chief Executive Officer Ben van Beurden commented:

"We are reshaping Shell and delivered a good cash flow performance this quarter
with over $9 billion in cash flow from operations. Debt has been reduced and,
for the second consecutive quarter, free cash flow more than covered our cash
dividend.

Production and LNG volumes included delivery from new projects, with ramp-up
continuing in 2017 and 2018. Meanwhile we are operating the company at an
underlying cost level that is $10 billion lower than Shell and BG combined only
24 months ago. We are gaining momentum on divestments, with some $15 billion
completed in 2016, announced, or in progress, and we are on track to complete
our overall $30 billion divestment programme as planned.

Looking ahead, we will further focus the portfolio and strengthen the company's
financial framework in 2017. Our strategy is starting to pay off and in 2017 we
will be investing around $25 billion in high quality, resilient projects. I'm
confident 2017 will be another year of progress for Shell to become a
world-class investment."

[waldron] 02/2/2017 07:23

CHUCKLE

LOOK AT THE HEADER NEWS

[leoneobull] 02/2/2017 06:36

Where are q4 results?!

[ariane] 27/1/2017 15:27

Law
Judge condemns ‘self-defeating’ mass of evidence in Shell pollution claim

By Michael Cross27 January 2017

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In a setback for attempts to hold multinational companies responsible for the behaviour of their subsidiaries, the High Court has ruled that group actions against oil giant Shell over pollution in Nigeria cannot proceed in London.

In His Royal Highness Emere Godwin Bebe Okpabi and Others v Royal Dutch Shell and Shell Petroleum Development Company of Nigeria Ltd, Mr Justice Fraser, sitting in the Technology and Construction Court, also criticises as ‘self defeating’ the mass of evidence brought by the claimants.

London firm Leigh Day, which brought the action on behalf of 40,000 Nigerians, said it would appeal.

The action involves a claim for compensation from Royal Dutch Shell and a local subsidiary, the Shell Petroleum Development Company of Nigeria, for pollution caused by spills from pipelines in the Niger Delta.

The claimants argue that ‘Royal Dutch Shell exercises significant direction and control over its Nigerian subsidiary and was, therefore, liable for its systematic pollution’. The defendants argue that the pollution was caused by illegal tapping and refining, activities in which at least some of the affected people must be complicit.

In judgment, Fraser said that claims against Royal Dutch Shell as ‘anchor defendant’ must fail as the Netherlands-headquartered holding company had no duty of care for acts and/or omissions of the operating subsidiary in Nigeria. The correct forum for actions against Shell Petroleum Development Company of Nigeria was the local court system, where conditional fee agreements are available, he said.

‘There is simply no connection whatsoever between this jurisdiction and the claims brought by the claimants, who are Nigerian citizens, for breaches of statutory duty and/or in common law for acts and omissions in Nigeria, by a Nigerian company,’ he said.

The judgment said that any claim based on the inadequacies of the Nigerian justice system would lead the court into making ‘damaging colonialist judgments based on inappropriate comparisons between one judicial system and another’.

Fraser noted that both parties ‘occupy firmly entrenched battle lines and are bitterly opposed to one another’s evidence and arguments’ and criticised the way they handled the case. ‘The current approach of parties in litigation such as this is wholly self-defeating, and contrary to cost-efficient conduct of litigation. This case is an ideal example of one with “masses of documents, long witness statements, detailed analysis of the issues, and long argument” being deployed on both sides.’

Such an approach is ‘diametrically opposed’ to that required under the Civil Procedure Rules, he said, raising the possibility of limiting the number and size of witness statements that can be lodged. ‘Experienced legal advisers ought not to need such strictures in order to concentrate their minds. However, a fundamental change of approach is required by the parties in cases such as these for applications of this nature.’

The judgment quotes the defendants’ estimate that the claim comprised 450 pages of evidence with almost 6,000 pages of exhibits in 22 files. This included a US diplomatic cable dating from 2006 disclosed by Wikileaks: the judge said ‘nothing in that cable advances the claimants’ case... in any appreciable respect’.

Announcing its intention to appeal, Leigh Day said that the judgment had been made at an early stage in the litigation, before any documents were disclosed and without hearing oral evidence from witnesses about the relationship between Royal Dutch Shell and its Nigerian subsidiary.

Leigh Day partner Daniel Leader said: ‘It is our view that the judgment failed to consider critical evidence which shows the decisive direction and control Royal Dutch Shell exercises over its Nigerian subsidiary. It is also inconsistent with recent judgments of the European Court of Justice and the Dutch Court of Appeal.’

Richard Hermer QC, Marie Louise Kinsler and Edward Craven (instructed by Leigh Day) acted for the claimants.

Lord Goldsmith PC QC and Sophie Lamb (instructed by Debevoise & Plimpton LLP) acted for the defendants.

[waldron] 24/1/2017 06:58

OIL SHELL B BACK

[maywillow] 19/1/2017 13:35

02 Feb 2017
Fourth quarter 2016 results

[the grumpy old men] 16/1/2017 13:23

Saudis see no need to extend OPEC deal beyond six months
By Anthony DiPaola, Mahmoud Habboush, Sam Wilkin on 1/16/2017

ABU DHABI (Bloomberg) -- OPEC probably won’t need to extend a deal it reached with other crude producers to cut output, given the level of their compliance with the reductions and the outlook for an increase in global demand, Saudi Energy Minister Khalid Al-Falih said.

The re-balancing of the oil market should take place by the end of the first half of the year, Al-Falih told reporters during an energy event in the United Arab Emirates capital of Abu Dhabi. Demand will pick up in the summer, and OPEC wants to make sure markets are well-supplied, he said.

“We don’t think it’s necessary, given the level of compliance we have seen and given the expectations of demand,” Al-Falih said Monday. “The re-balancing which started slowly in 2016 will have its full impact by the first half. Of course, there are many variables that can come into play between now and June, and at that time we will be able to reassess.”

Saudi Arabia is due to meet fellow members of the Organization of Petroleum Exporting Countries in May at their bi-annual meeting in Vienna to assess the market and the group’s production policy. OPEC states will also gather with major producers outside the group later this month in the Austrian capital to monitor their compliance with the production cuts, which aim to reduce inventories and shore up prices. Benchmark Brent crude futures were trading 10 cents higher at $55.55 in London at 9:54 a.m.

Avoiding Shortage

OPEC’s decision on Nov. 30 to cut output reversed a two-year policy that let members pump all they wanted to try to maximize sales—a strategy that had contributed to a worldwide glut. The producer group, together with 11 other countries including Russia, is seeking to reduce supply by about 1.8 MMbopd. The cuts took effect on Jan. 1 and are to last through June.

“All players have indicated their willingness to extend, if necessary,” Al-Falih said. “Based on my judgement today, I think it’s unlikely that we will need to continue. Demand is going to pick up in the summer, and we want to make sure the markets continue to be supplied well. We don’t want to create a shortage or a squeeze, so the extension will only happen if there’s a need, and if there’s a need, we will do it. ”

Saudi Arabia has cut production to less than 10 MMbopd, below its targeted level, and is currently producing at a 22-month low, Al-Falih said Jan. 12 in Abu Dhabi. The world’s biggest oil exporter had agreed to trim output by 486,000 bpd to 10.058 MMbpd as part of the global accord on supply.

“We will strictly adhere to our commitment and be at our cap, or as is the case now, slightly below it,” Al-Falih said Monday.

[waldron] 14/1/2017 12:12

YOU SHELL A BE SINGING A LONG

[la forge] 06/1/2017 18:56

broker ratings
Royal Dutch Shell Plc 16.5% Potential Upside Indicated by Barclays Capital

Posted by: Amilia Stone 5th January 2017

Royal Dutch Shell Plc using EPIC/TICKER code LON:RDSA had its stock rating noted as ‘Reiterates217; with the recommendation being set at ‘OVERWEIGHT217; this morning by analysts at Barclays Capital. Royal Dutch Shell Plc are listed in the Oil & Gas sector within UK Main Market. Barclays Capital have set a target price of 2650 GBX on its stock. This indicates the analyst now believes there is a potential upside of 16.5% from today’s opening price of 2275.5 GBX. Over the last 30 and 90 trading days the company share price has increased 223.5 points and increased 232.5 points respectively.


Royal Dutch Shell Plc LON:RDSA has a 50 day moving average of 2,104.74 GBX and a 200 day moving average of 1,946.13 GBX. The 1 year high for the stock price is 2275.5 GBX while the 52 week low for the share price is 1256 GBX. There are currently 8,934,830,769 shares in issue with the average daily volume traded being 5,167,825. Market capitalisation for LON:RDSA is £201,706,487,677 GBP.



Royal Dutch Shell Plc is an independent oil and gas company, based in the United Kingdom. It operates in three segments: Upstream, Downstream and Corporate. Upstream combines the operating segments Upstream International and Upstream Americas.

[la forge] 06/1/2017 14:05

Oil Prices Recover Some Losses--Update
06/01/2017 12:42pm
Dow Jones News

Shell A (LSE:RDSA)
Intraday Stock Chart

Today : Friday 6 January 2017
Click Here for more Shell A Charts.

By Kevin Baxter and Jenny W. Hsu

Crude oil prices were up Friday, clawing back some of the early morning losses after the U.S. published mixed data that showed a big decline in oil stocks, but a build in oil products in storage.

The March contract for Brent crude, the global benchmark, was up 0.6% to $57.22 a barrel while its U.S. counterpart West Texas Intermediate gained 0.52% to $54.03 for February deliveries.

Prices have been buoyed this morning by the decision by Royal Dutch Shell PLC to close down the 140,000-barrel-a-day Trans-Niger Bonny Light pipeline. The company cited a fire as the reason for the shutdown, but the situation highlights the continuing struggle in Nigeria with attacks on the country's oil infrastructure.

"The Nigerian government is reported restarting to pay peace-allowance to militants. This will probably ease things but it will take time before world refiners regain confidence about the reliability of Nigerian supplies," said oil analyst Olivier Jakob from the Switzerland-based Petromatrix.

Oil prices had been choppy overnight and early morning after the U.S. Energy Information Administration reported a significant drawdown of 7.1 million barrels from stockpiles in the week of Dec. 30 due to lower imports, upending the market's expectations for an increase or a smaller decrease.

However, the large growth in distillates and gasoline stocks--of 10.1 million barrels and 8.3 million barrels respectively--is considered bearish and a reflection of poor demand, said analysts at Société; Générale.

The data also showed U.S. production of crude grew by 4,000 barrels a day in the same week, a figure that is likely to rise in the postholiday period.

As U.S. production continues to creep up, members of the Organization of the Petroleum Exporting Countries are starting to pull back on output to meet the 32.5 million barrels a day ceiling pledged at the cartel's Nov. 30 meeting.

Saudi Arabia, the de facto leader of the cartel, took the lion's share of the cut. The Wall Street Journal Thursday reported the kingdom made good on its pledge by cutting its January daily production by 468,000 barrels.

"Saudi Aramco has made it clear that it plans to cuts production and this will hopefully convince other producers to fully comply with the promised cuts," said Edward Bell, an analyst from the Dubai-based Emirates NBD bank.

Some market observers believe prices could reach $60-$70 a barrel later this quarter if the cuts are fully enforced, though OPEC has a spotty record of adhering to past production quotas.

Nymex reformulated gasoline blendstock for February--the benchmark gasoline contract-fell 0.16% to $1.6395 a gallon.

ICE gas oil for January changed hands at $498.25 a metric ton, up 0.91%.

Write to Kevin Baxter at [e-mail] and Jenny W. Hsu at [e-mail]



(END) Dow Jones Newswires

January 06, 2017 07:27 ET (12:27 GMT)

[grupo] 04/1/2017 08:29

Shell Seeks to Streamline in 2017 -- WSJ
04/01/2017 8:02am
Dow Jones News

Shell A (LSE:RDSA)
Intraday Stock Chart

Today : Wednesday 4 January 2017
Click Here for more Shell A Charts.

Executing asset sales is crucial for reducing debt and retaining shareholder confidence

By Sarah Kent

LONDON -- Royal Dutch Shell PLC has a goal for 2017: Slimming down.

The British-Dutch oil-and-gas giant bulked up in February with the roughly $50 billion acquisition of BG Group PLC, giving Shell a dominant position in liquefied natural gas and some of the world's most prized offshore oil fields in Brazil. It also saddled the company with a mountain of debt -- $78 billion at the end of the third quarter -- that is higher than peers such as Exxon Mobil Corp.

The company helped sell investors and analysts on the value of the BG deal by promising to unload $30 billion in assets from 2016 through 2018. Not only would it help pay down some of that debt, but it would prune some unloved assets and shore up confidence that the company could keep paying dividends and provide cash for a share buyback that could begin as soon as 2017.

But in 2016, Shell announced details of asset sales amounting to only about $5 billion -- short of the $6 billion to $8 billion the company had said it would reach last year. As recently as November , Shell's Chief Financial Officer Simon Henry said the company expected to hit that target.

The company declined to comment. Shell has said it is likely to back-end its divestment program and is more concerned with making sure it gets good value for the sales.

Executing more deals is crucial for retaining shareholder confidence in Shell's ability to keep paying its dividend and reduce its debt levels. Its debt-to-equity ratio of 29% is higher than its four major competitors: Exxon, Chevron Corp., BP PLC and Total SA.

"Shell's high net debt and the slow progress against its divestment plan are the last major concerns for investors, with the view that it remains the key risk for a dividend cut," said research firm Sanford C. Bernstein in a note.

Deal making was slow across the energy sector in 2016, when oil prices often were below $45 a barrel. With Brent crude, the international benchmark, now hovering around $56 a barrel, there is hope among investors and analysts that Shell can start selling off unwanted assets for a fair price.

"This is a three-year plan and we're starting to see the oil price start to recover, which is helpful," said Simon Gergel, chief investment officer for U.K. equities at Allianz Global Investors. "I would be pretty confident they can get a long way down the road in the three years."

Deal making in the sector already seems to be picking up, with BP announcing a flurry of agreements in the past month.

Shell was on its own year-end spree, announcing the completion of a tricky plan to sell its stake in a Japanese refining joint venture for $1.4 billion and an agreement to give up its Australian aviation-fuels business for $250 million.

Those are positive steps but still came in shy of its $6 billion to $8 billion range for 2016.

The company has said it is already working on 16 asset sales with a value of more than $500 million and is expected to close some of them early this year. That is likely to include a package of fields in the North Sea worth about $3 billion and assets in Gabon worth nearly $1 billion, according to a person familiar with the situation.

Shell is reviewing whether to sell operations in New Zealand and Thailand, among other places. In Iraq, the company is in discussions to sell its stake in the West Qurna oil field to a Japanese consortium, people familiar with the matter said.

Many of the assets Shell sold in 2016 were from its refining and marketing division, which has proved more resilient to the oil-price slump and an easier place for deal making. But deals for exploration and production assets have proved harder and could remain difficult even if oil prices hover around $55 to $60 a barrel in 2017 -- more than 20% higher than 2016's average.

In the energy sector, buyers and sellers in many cases are still struggling to find a balance on the question of pricing assets, according to analysts. Iain Reid, senior oil-and-gas analyst at Macquarie, said Shell seemed determined to sell at a price of its choosing, which could push the completion of its asset-sale plan beyond 2018.

"Shell is not prepared to sacrifice too much," Mr. Reid said.

--Michael Amon contributed to this article.

Write to Sarah Kent at [e-mail]



(END) Dow Jones Newswires

January 04, 2017 02:47 ET (07:47 GMT)

[grupo guitarlumber] 24/12/2016 07:31

Royal Dutch Shell Plc: Issuance of New Shares

News provided by
Royal Dutch Shell plc

Dec 16, 2016, 07:56 ET

Share this article

LONDON, December 16, 2016 /PRNewswire/ --

Royal Dutch Shell plc (the "Company") (NYSE: RDS.A) (NYSE: RDS.B) announces that it has today issued 58,949,369 A ordinary shares of €0.07 each in relation to the scrip dividend programme for the third 2016 interim dividend.

Following this issue, the total number of A shares in issue is 4,428,903,813 ordinary shares of €0.07 each and the total number of B shares is 3,745,486,731 ordinary shares of €0.07 each. A shares and B shares have identical voting rights. The Company holds no ordinary shares in Treasury.

The total number of A shares and B shares in issue is 8,174,390,544 ordinary shares of €0.07 each and this figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, Royal Dutch Shell plc under the FCA's Disclosure Guidance and Transparency Rules.

This announcement will be available on

December 16, 2016

Mark Edwards

Deputy Company Secretary

ENQUIRIES
Shell Media Relations
International, UK, European Press: [phone]
Shell Investor Relations
Europe: [phone]
United States: [phone]

SOURCE Royal Dutch Shell plc

[grupo guitarlumber] 22/12/2016 12:06

LONDON--Royal Dutch Shell PLC (RDSA.LN) said Thursday it has completed the sale of its 51% shareholding in the Shell Refining Company (Federation of Malaya) Berhad (SRC) in Malaysia, to Malaysia Hengyuan International Ltd. for $66.3 million.

Shell said the sale is consistent with its strategy to concentrate its global downstream operations in areas where it can be most competitive.

The company said Malaysia remains an important market for the company and it will maintain supply to its retail and commercial customers, and honor all current commercial arrangements through existing comprehensive supply agreements in the country.

B shares in London at 1045 GMT up 1 pence, or 0.04%, at 2323 pence.



-Write to Ian Walker at [e-mail]; @IanWalk40289749



(END) Dow Jones Newswires

December 22, 2016 06:05 ET (11:05 GMT)