Shell Share Discussion Threads

[ariane] 10/3/2017 17:27

Royal Dutch Shell Q4 2016 Euro and GBP Equivalent Dividend Payments
10/03/2017 4:43pm
UK Regulatory (RNS & others)


TIDMRDSA TIDMRDSB

ROYAL DUTCH SHELL PLC FOURTH QUARTER 2016 EURO AND GBP EQUIVALENT DIVIDEND
PAYMENTS

The Hague, March 10, 2017 - The Board of Royal Dutch Shell plc ("RDS") today
announced the pounds sterling and euro equivalent dividend payments in respect
of the fourth quarter 2016 interim dividend, which was announced on February 2,
2017 at US$0.47 per A ordinary share ("A Share") and B ordinary share ("B
Share").

Dividends on A Shares will be paid, by default, in euro at the rate of EUR0.4420
per A Share. Holders of A Shares who have validly submitted pounds sterling
currency elections by March 3, 2017 will be entitled to a dividend of 38.64p
per A Share.

Dividends on B Shares will be paid, by default, in pounds sterling at the rate
of 38.64p per B Share. Holders of B Shares who have validly submitted euro
currency elections by March 3, 2017 will be entitled to a dividend of EUR0.4420
per B Share.

This dividend will be payable on March 27, 2017 to those members whose names
were on the Register of Members on February 17, 2017.

Taxation - cash dividend

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

[ariane] 10/3/2017 10:00

Pounds sterling and euro equivalents March 10, 2017
announcement date

Payment date March 27, 2017

[the grumpy old men] 09/3/2017 17:57

March 9, 2017, 12:29 P.M. ET

Marathon, Shell & Canadian Natural: Everyone’s a Winner! Well, Almost Everyone.
By Ben Levisohn

Sometimes a deal is so good, everyone gains. Or almost everyone. That’s the case with the deal announced by Marathon Oil (MRO), Canadian Natural Resources (CNQ), and Royal Dutch Shell (RDS.A).

Getty Images

It’s a complicated deal, one that I’ll let Cowen’s Sam Margolin and team explain:

Under the first agreement, RDS will sell its entire 60% interest in Athabasca Oil Sands Project, its 100% interest in the Peace River Complex in-situ assets which includes Carmom Creek and a number of other oil sands leases in Canada. As the buyer, Canadian Natural will pay consideration of $8.5B through $5.4B cash, $3.1B shares.

Under a separate agreement, RDS and CNQ will jointly acquire MRO Canada operations including 20% stake in the Athabasca project for $1.25B each in cash. The total net consideration from both transactions to RDS is approximately $7.25B ($4.15B cash, $3.1B stock). We note, RDS net implied sales price of 17.4x operating cash flow was higher than MRO sales price of 15x, albeit a larger stake and partial stock consideration…

We view the transaction positively as it renders a material deleveraging contribution and puts [RDS] ahead of schedule to realize its large $30B divestment program. Incremental sales should provide upside as proceeds reduce elevated leverage ratios.

RBC’s Scott Hanold warns investors not to overlook Marathon’s purchase of acres in the Permian basin:

Marathon Oil (MRO) announced the acquisition of 70,000 net surface acres in the Permian Basin, including 51,500 net acres in northern Delaware Basin, from BC Operating (private) for $1.1 billion. Separately, the company announced the divestiture of its non-operated interest in the Canadian Oil Sands for $2.5 billion. Proceeds from the divestiture will be used to fund resource capture, development capital expenditures, debt reduction, and general corporate purposes.

Shares of Marathon Oil have gained 4% to $15.47 at 12:18 p.m. today, while Canadian Natural Resources has climbed 6.1% to $30.99, and Royal Dutch Shell is off 0.5% at $50.82.

[maywillow] 09/3/2017 08:56

Shell to Sell Canadian Oil-Sands Business for $7.25 Billion
09/03/2017 8:17am
Dow Jones News

Shell A (LSE:RDSA)
Intraday Stock Chart

Today : Thursday 9 March 2017
Click Here for more Shell A Charts.

By Ian Walker

LONDON-- Royal Dutch Shell PLC is selling its oil sands interests in Canada in a two-part deal worth $7.25 billion, as part of the oil major's plan to reshape the business.

In the first part of the deal, Shell will sell its 60% interest in the Athabasca oil sands project, its 100% interest in the Peace River complex in situ assets and a number of undeveloped oil sands leases in Alberta, Canada, to a subsidiary of Canadian Natural Resources Ltd. for $8.5 billion in shares and cash.

Secondly, Shell and Canadian Natural will jointly buy and equally-own Marathon Oil Canada Corporation--which holds a 20% interest in the Athabasca oil sands project--from Marathon Oil Corp. for $1.25 billion each in cash.

Shell's chief executive, Ben van Beurden, said: "We are strengthening Shell's world-class investment case by focusing on free cash flow and higher returns on capital, and prioritizing businesses where we have global scale and a competitive advantage such as integrated gas and deep water.

"The proceeds will accelerate free cash flow and reduce gearing and make a meaningful contribution to Shell's $30 billion divestment program," he added.

Marathon Oil also said Thursday that it would buy about 70,000 net surface acres in the U.S.'s Permian Basin from BC Operating Inc. and other entities for $1.1 billion in cash.

Marathon Oil said the Canadian oil sands deal is expected to close in mid-2017, while the Permian Basin deal will close in the second quarter of 2017.

Write to Ian Walker at [e-mail]



(END) Dow Jones Newswires

March 09, 2017 03:02 ET (08:02 GMT)

[la forge] 07/3/2017 14:30

Pounds sterling and euro equivalents March 10, 2017
announcement date

Payment date March 27, 2017

[waldron] 06/3/2017 18:30

'Second wave' of US shale-inspired oil glut around the corner, warns IEA's Fatih Birol
IEA executive director sees massive supply-demand imbalances over the next three to five years.

Gaurav Sharma
By Gaurav Sharma in Houston, Texas, USA
March 6, 2017 18:03 GMT

Fatih Birol IEA
Executive director of the International Energy Agency Dr Fatih Birol (centre) speaks at IHS CERAWeek in Houston, Texas, USA on 6 March, 2017.Gaurav Sharma / IB Times UK

Another oil supply glut triggered by rising US crude production is on the horizon, according to Dr Fatih Birol, executive director of the International Energy Agency.

Commenting on the ongoing tug of war between the upside price risk of Opec crude production cuts versus the downside drag of higher US production on Monday (6 March), at CERAWeek in Houston, Texas, USA, Dr Birol said: "We are witnessing the start of a second wave of a US shale oil glut. This second wave is unmistakable. Of course, there is a risk that oil prices could be heading lower."
More business news

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However, the IEA official said a lower price environment could create massive problems down the road should it lead to chronic under-investment in oil and gas projects.

"In fact, we see significant risk of prices rising sharply starting 2020, unless significant oil and gas projects are commenced."

On the demand side, Birol said India is overtaking China as the centre of oil demand growth. "Oil demand is not peaking, and it will continue to grow steadily.

"We expect global oil demand to grow by 100 million barrels per day by 2019, with from China and India jointly responsible for half of global demand growth. It is why the IEA remains concerned about supply-demand balance around 2020."

[sarkasm] 03/3/2017 10:39

broker ratings
Royal Dutch Shell Plc 31.5% Potential Upside Indicated by Barclays Capital

Posted by: Amilia Stone 3rd March 2017

Royal Dutch Shell Plc with EPIC/TICKER 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 2800 GBX on its stock. This is indicating the analyst believes there is a potential upside of 31.5% from today’s opening price of 2128.5 GBX. Over the last 30 and 90 trading days the company share price has decreased 8.5 points and increased 108 points respectively.


Royal Dutch Shell Plc LON:RDSA has a 50 day moving average of 2,202.80 GBX and the 200 Day Moving Average price is recorded at 2,040.02 GBX. The 1 year high share price is 2295.5 GBX while the 52 week low for the stock is 1622 GBX. There are currently 9,540,830,791 shares in issue with the average daily volume traded being 5,843,460. Market capitalisation for LON:RDSA is £203,887,554,004 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.

[waldron] 02/3/2017 14:32

Oil falls as record US crude supplies offset Opec output cuts

Brent for May settlement declines 15 cents, or 0.3%, to $56.36 a barrel on the ICE Futures Europe exchange
Published: 15:28 March 2, 2017
Gulf News
Bloomberg


New York: Oil dropped after government data showed that US crude stockpiles rose to a record, offsetting Opec’s efforts to drain a global glut.

Crude supplies climbed 1.5 million barrels to 520.2 million barrels, the highest in weekly data going back to 1982. A 3-million-barrel supplies gain was projected by analysts surveyed by Bloomberg before the Energy Information Administration report. Compliance among the 10 Opec members that pledged to cut production rose to 89 per cent, while gains from other members meant total output rose slightly, consultant JBC Energy said.

As the Organisation of Petroleum Exporting Countries and 11 non-member nations work to reduce supply to end a three-year glut, US producers are ramping up, sowing speculation they may fill the gap. That has so far subdued price swings, sending the Chicago Board Options Exchange Crude Oil Volatility Index on Monday to the lowest since October 2014.

“The market’s still in a struggle between Opec cuts and the reality that there’s a lot of oil in storage here,” Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts, said by telephone. “We need to start seeing supply declines here pretty soon or the market will be in trouble.”

West Texas Intermediate for April delivery slipped 18 cents, or 0.3 per cent, to close at $53.83 a barrel on the New York Mercantile Exchange. Futures bounced between $51.22 and $54.94 in February, the tightest range since August 2003.

Brent for May settlement declined 15 cents, or 0.3 per cent, to $56.36 a barrel on the London-based ICE Futures Europe exchange. The April contract dropped 0.6 per cent to expire at $55.59 on Tuesday. The global benchmark closed at a $2.08 premium to May WTI.

Refinery demand

Refineries boosted the amount of crude they processed for the first time in seven weeks. Refiners typically plan maintenance programs for low-demand periods such as February when there’s a lull between winter preparations and the summer surge of gasoline consumption.

“It’s good to see the build was a little lighter than expected,” Brian Kessens, a managing director and portfolio manager at Tortoise Capital Advisors LLC in Leawood, Kansas, who helps manage $17.1 billion in energy assets, said by telephone. “Refinery utilisation picked up a little bit, which might explain the smaller-than-expected gain.”

Gasoline stockpiles fell 546,000 barrels, while inventories of distillate fuel, a category that includes diesel and heating oil, slipped 925,000 barrels.

[grupo guitarlumber] 28/2/2017 14:53

Home » Reports » Broker Ratings » Royal Dutch Shell Plc 24% Potential Upside Indicated by JP Morgan Cazenove
broker ratings
Royal Dutch Shell Plc 24% Potential Upside Indicated by JP Morgan Cazenove

Posted by: Amilia Stone 27th February 2017

Royal Dutch Shell Plc with EPIC/TICKER LON:RDSA has had its stock rating noted as ‘Reiterates217; with the recommendation being set at ‘OVERWEIGHT217; this morning by analysts at JP Morgan Cazenove. Royal Dutch Shell Plc are listed in the Oil & Gas sector within UK Main Market. JP Morgan Cazenove have set a target price of 2600 GBX on its stock. This would imply the analyst believes there is now a potential upside of 24% from the opening price of 2096 GBX. Over the last 30 and 90 trading days the company share price has decreased 58 points and increased 111 points respectively.


Royal Dutch Shell Plc LON:RDSA has a 50 day moving average of 2,210.87 GBX and a 200 Day Moving Average share price is recorded at 2,031.10 GBX. The 1 year high share price is 2295.5 GBX while the 52 week low for the stock is 1607.5 GBX. There are currently 9,805,470,333 shares in issue with the average daily volume traded being 5,568,440. Market capitalisation for LON:RDSA is £204,738,220,553 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.

[waldron] 26/2/2017 19:35

Saudi Aramco IPO to impact markets in many ways
By Filipe Pacheco and Samuel Potter on 2/26/2017

DUBAI (Bloomberg) -- The exact dollar value of Saudi Aramco may be up for debate, but the listing of the world’s biggest company will be priceless for the kingdom’s markets.

The highly-anticipated share sale has become emblematic of Saudi Arabia’s push to transform its economy and open its doors to more foreign capital. Whatever you think of the valuations involved -- be it the $2 trillion once suggested by Crown Prince Mohammed bin Salman or the $400 billion estimate said to have been made by consultant Wood Mackenzie Ltd. -- the offering has the potential to make waves in markets from Tokyo to Toronto.

Aramco’s “partial privatization will bring much attention on Saudi Arabia,” said Michael Bolliger, the Zurich-based head of emerging-market asset allocation at UBS Wealth Management, which has clients worth $2.1 trillion. “As part of a broader privatization program of state-owned companies, it reinforces the message that the kingdom’s strategy is to develop a domestic capital market and gradually open it up to international investors.”

Here’s a look at how Aramco’s listing may impact markets:

Stock markets

Saudi Arabia’s domestic stock exchange, known as the Tadawul, has a total market capitalization of about $440 billion, making it the largest in the Middle East. A sale of just 5% of Aramco could raise more than $100 billion, according to some estimates. That would crown it as the biggest listing ever but also mean absorption of the whole deal on the local exchange would be near impossible.

Throw in the shortage of foreign participation in the Tadawul -- overseas investors account for about 4% of ownership -- and Saudi Arabia has little choice but to share the Aramco listing with at least one international partner.

Singapore, the biggest oil-trading center in Asia, is so keen to host the listing that it is considering inviting one of its state investment companies to become a cornerstone investor in the initial public offering, according to people familiar with the matter. The country is also looking at cooperating with the Saudi government on future investments, they said.

Aramco officials have also received pitches on a potential Hong Kong listing, which could come with anchor investments from deep-pocketed Chinese funds. Executives at Aramco have mentioned the possibility of listing in London, New York, Tokyo or Toronto.

Stock indexes

The largest IPO in history will have an impact even beyond where it’s listed, rippling through the benchmark stock gauges tracked by investors globally.

Saudi Arabia expects MSCI Emerging Markets Index inclusion in the near future, the exchange’s chief executive officer said on Sunday.

Assuming a 5% float, Aramco alone would account for about 2.4% of the gauge, according to estimates by Mohamad Al Hajj, a Dubai-based equity strategist for the Middle East and North Africa at EFG-Hermes Holding. That would be enough to propel it into the top five companies by weighting alongside Samsung Electronics Co. and Alibaba Group Holding Ltd.

Aramco’s listing would almost double Saudi Arabia’s presence in the benchmark measure, which would be about 2.8% based on the Tadawul currently. The inclusion of the oil-giant would lead to passive inflows of $6.6 billion from MSCI trackers, and $2.5 billion from FTSE investors, Al Hajj estimated.

Oil prices

Saudi Arabia, the world’s largest oil exporter, told OPEC earlier this month that it cut crude production by the most in more than eight years. The key to Aramco’s IPO price -- and the success of its offering -- will be the value of crude. Even with the global shift to cleaner fuels, oil is expected to continue providing about a third of world energy for the next two decades.

Currencies

Forward contracts for the Saudi riyal have emerged as the place to bet against the country’s more than three-decades old peg to the U.S. dollar. Foreign reserves held by the Saudi Arabia Monetary Agency have dropped more than $200 billion since August 2014 to $528 billion at the end of December, as the kingdom used savings to shore up public finances.

Raising $17.5 billion in its debut sovereign bond sale helped cut the one-year forwards to the lowest level in 18 months; expect the influx of Aramco cash to deter further bets against the fix.

Interbank lending

Aramco’s listing could also filter into the kingdom’s financial system. The three-month Saudi Interbank Offered Rate, used by lenders to price loans and a key gauge of stress, climbed to the highest since the global financial crisis in October.

Following the country’s bond sale -- a record for an emerging-market nation -- it has been declining. Aramco’s share sale is likely to flood the kingdom’s banks with liquidity, further depressing the measure known as Saibor.

[la forge] 25/2/2017 18:52

Norway’s Statoil ASA, the U.K.’s Royal Dutch Shell Plc and France’s Total SA have paid billions since 2013 to gain access to Brazil’s fertile offshore oil riches. They’re now seen as having the best chance to expand when Brazil later this year auctions four more blocks in the prolific play known as the pre-salt along the country’s east coast.

The region already produces about 1.3 million barrels of crude a day. By 2023, that’s set to surpass 2 million barrels a day, eclipsing Norway and a majority of OPEC producers. Such a move offers the Europeans a solid return on their investment and Brazil perhaps its best chance at an economic revival following a major corruption probe involving the state-owned energy company, Petroleo Brasileiro SA.

The Europeans “definitely have a leg up, there’s no question,” said Cleveland Jones, a geologist at Rio de Janeiro State University, citing the companies familiarity with the government and the region’s deep-water geology. “They’ve done what is a very strategically positive thing for them, though it doesn’t close the door to anybody.”

The decision to open Brazil’s most prized energy discovery to outsiders was spurred by the financial and legal struggles at Petrobras following a sprawling corruption scandal. During the commodities boom, the company lost billions investing in unprofitable refineries and subsidizing fuel imports, resulting in the loss of its investment grade rating.
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The pre-salt region was formed when the South American and African continents began separating more than 100 million years ago, gaining its name from a thick salt layer that blankets the deposits. Production of oil and natural gas began in 2010 at the Lula deposit, which has become Brazil’s largest producing field at 711,000 barrels a day.

Production Peak

The National Petroleum Agency, or ANP, expects more than half of Brazil’s output to come from pre-salt wells when production peaks at nearly 4.5 million barrels a day in 2025, according to a presentation on its website.

Last year, Statoil forged a $2.5 billion deal with Petrobras for a majority stake in a bloc that holds the region’s Carcara deposit. The Stavanger-based producer has said it will compete in in the next round of bidding for an adjacent area to control the entire deposit.

Shell, meanwhile, is the operator of the Gato do Mato field, one of the first auctioned off by Brazil. That block also stretches beyond the original concession boundaries, and the company has said it too will bid in the upcoming round.

Total’s Stake

In December, Total agreed to buy a controlling stake in the Lapa field in a $2.2 billion deal that also includes a minority stake in the Berbigao field that is set to start pumping in 2018.

While Total’s press office declined to comment on whether the company will join the bidding in September, Chief Executive Officer Patrick Pouyanne extolled the virtues of Brazil’s oil future in a Bloomberg television interview in New York on Tuesday.

“In the oil and gas business you go where you find oil and gas,” Pouyanne said. “One of Total’s strengths is deepwater; we are able to develop deep-water fields. In Africa and Brazil is the obvious place where we can find these types of huge resources.”

Total has a history of teaming up with national oil companies around the world, and is interested in working with Petrobras as a minority partner as well as operating its own projects in Brazil, Pouyanne said.

The other two areas up for auction, Sapinhoa and Tartaruga Mestica, are operated by Petrobras.

Brazil is also planning to offer an estimated three unlicensed pre-salt areas in November where companies other than Petrobras can bid to control operations after Congress changed legislation last year. This second bidding round is likely to draw the widest interest and bring new operators to Brazil’s oil industry, said Marcio Felix, the Energy Ministry’s oil and gas secretary, in an interview last month.

Future Bidding

The 2017 bidding schedule also includes a round for deep-water fields outside of the pre-salt later in the year, and another in May for 10 mature fields for small and mid-sized producers. The government hasn’t announced specific areas for the later round.

Petrobras is also likely to continue selling offshore acreage to slash debt, offering another avenue for oil companies to expand in Brazil, said Horacio Cuenca, an analyst at energy consultancy Wood Mackenzie Ltd.

“If international companies come and make the right offer, Petrobras will accept,” said Cuenca. “Especially anything that has development capex ahead of it.’’

[grupo] 24/2/2017 10:27

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

[ariane] 20/2/2017 14:14

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

[ariane] 20/2/2017 14:13

Shell Sees No Glut of Liquified Natural Gas as Demand Rises
20/02/2017 1:53pm
Dow Jones News

Shell A (LSE:RDSA)
Intraday Stock Chart

Today : Monday 20 February 2017
Click Here for more Shell A Charts.

By Sarah kent

LONDON-- Royal Dutch Shell PLC said Monday there is no evidence of a glut in liquefied natural gas supply, taking a contrarian view on a market in which the Anglo-Dutch energy giant is one of the largest operators.

In its new LNG outlook, Shell said demand for the supercooled natural gas kept pace with a strong increase in supply last year, dismissing concerns that a wave of giant projects coming into production is swamping the market.

"There's been a perception and quite a few headlines of the LNG market being oversupplied," said Maarten Wetselaar, Shell's head of integrated gas. "In 2016 you didn't find any proof of that."

The company has doubled down on LNG, following its acquisition of BG Group last year. The deal was a roughly $50 billion bet, staking the company's future on natural gas and huge deep-water prospects offshore Brazil.

Shell is gambling that demand for LNG will grow strongly in coming years, benefiting from government policies that favor lower-carbon fuels. It is projecting natural gas consumption will rise by 2% a year between 2015 and 2030, and demand for LNG will increase at a rate of 4%-5% a year.

That increased demand is expected to mitigate the effect of new projects scheduled to bring vast new supplies, with just over a third of anticipated new volumes already up and running.

"What's different to many people's expectation is we've seen an equally strong demand growth--potentially even a more strong demand growth," said Steve Hill, vice president for gas trading . "That's a key message because we still keep reading about the oversupply in the industry and we just don't see it."

The company said there is a need for investment in new LNG projects to meet demand in the years after 2020 as global consumption is expected to continue to grow.

Write to Sarah Kent at [e-mail]



(END) Dow Jones Newswires

February 20, 2017 08:38 ET (13:38 GMT)

[maywillow] 07/2/2017 19:36

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

[waldron] 02/2/2017 08:23

LONDON-- Royal Dutch Shell PLC on Thursday reported an 8% decline in profit last year to the lowest level in more than a decade.

Shell said its profit for 2016 on current cost-of-supplies basis--a measure similar to the net income that U.S. oil companies report--was $3.5 billion, down from $3.8 billion a year earlier. The company's profit for the fourth quarter fell 44% to $1 billion.

The numbers reflect a tough year, when oil prices remained under pressure and the company complete a major acquisition of smaller rival BG Group.

Shell's results announcement is the latest in a mixed bag for the world's biggest oil companies. Chevron Corp. reported its second consecutive quarterly profit last week, but the results still disappointed investors. Exxon Mobil Corp. announced a 40% drop in earnings for the fourth quarter after writing down the value of more than $2 billion in U.S. assets.

Write to Sarah Kent at [e-mail]



(END) Dow Jones Newswires

February 02, 2017 02:48 ET (07:48 GMT)

[waldron] 02/2/2017 07:57

Shell's FY CCS earnings slip
StockMarketWire.com
Royal Dutch Shell has booked FY CCS earnings attributable to shareholders of $3.5bn, from $3.8bn a year earlier. In Q4, CCS earnings attributable to shareholders were $1.0bn, from $1.8bn.

"We are reshaping Shell and delivered a good cash flow performance this quarter with over $9 billion in cash flow from operations," said CEO Ben van Beurden.

The company's debt had been reduced and, for the second consecutive quarter, free cash flow had more than covered its cash dividend.

Its Q4 dividend was $0.47 per ordinary share and $0.94 per American Depositary Share (ADS).

Van Beurden continued: "Production and LNG volumes included delivery from new projects, with ramp-up continuing in 2017 and 2018."

Meanwhile, he added, the company was operating at an underlying cost level that was $10bn 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, van Beurden said Shell would further focus the portfolio and strengthen the its 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."

Shell was expected to announce a dividend of $0.47 per ordinary share and $0.94 per ADS for Q1 2017.

Returning to the results, FY 2016 CCS earnings attributable to shareholders excluding identified items were $7.2bn, from $11.4bn in 2015.

Gearing at the end of 2016 was 28.0% (2015 14.0%). There was an increase of 9.7% on acquisition of BG.





Story provided by StockMarketWire.com

[waldron] 02/2/2017 07:40

LONDON (Alliance News) - Royal Dutch Shell PLC on Thursday reported a small declining in full year earnings in 2016, missing analyst expectations, but the company maintained its dividend and vowed to start investing large sums of money into new projects this year.

The oil and gas behemoth reported current cost of supply (CSS) earnings of USD3.53 billion in 2016, down 8% from the USD3.84 billion recorded in 2015. Analysts use CCS earnings as Shell's headline figure, and the consensus had expected CCS earnings of USD8.17 billion in 2016.

Excluding exceptional items, CCS earnings in 2016 fell 37% to USD7.18 billion from USD11.44 billion.

Shell said its Integrated Gas division increased CCS earnings excluding items of USD3.70 billion versus USD5.05 billion the year before. The upstream unit producing oil and gas reported a wider CCS loss of USD2.70 billion versus a USD2.25 billion loss, while the downstream unit saw earnings fall to USD7.24 billion from US9.74 billion.

Income attributable to shareholders soared in 2016, more than doubling year-on-year to USD4.57 billion from USD1.93 billion in 2015.

Cashflow from operations beat analyst expectations, but still fell year-on-year to USD20.61 billion from USD29.81 billion.

Full year oil and gas production averaged 3.7 million barrels of oil equivalent per day, rising 24% year-on-year, bolstered by BG Group. Excluding BG Group, production declined 2% from 2015, Shell said.

Shell, as expected, maintained its total dividend for the full year of 1.88 cents per share.

Moving forward, Shell said it will invest USD25.00 billion in "high quality, resilient projects" in 2017, stating that its new financial framework following the GBP35.00 billion acquisition of BG Group last year is "starting to pay off".

By Joshua Warner; [e-mail]; @JoshAlliance