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Share Name Share Symbol Market Type Share ISIN Share Description
Royal Dutch Shell Plc LSE:RDSA London Ordinary Share GB00B03MLX29 'A' ORD EUR0.07
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  8.60 0.6% 1,430.20 1,428.40 1,428.80 1,440.60 1,414.80 1,433.20 6,300,713 16:35:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 13,205.3 -19,723.5 -203.3 - 58,656

Royal Dutch Shell Share Discussion Threads

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DateSubjectAuthorDiscuss
10/3/2021
10:25
U.S. inventories data due later in the day.
ariane
09/3/2021
22:53
Oil Prices Slide On Yet Another Surprise Inventory Build By Julianne Geiger - Mar 09, 2021, 3:43 PM CST The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 12.792 million barrels for the week ending March 5. Analysts had predicted an inventory build of 816,000 barrels for the week. In the previous week, the API reported a major build in oil inventories of 7.356-million barrels after analysts had predicted a 928,000-barrel draw. But that was nothing compared to the EIA's report a day later of a 21.6 million barrel build. It is unclear whether today’s reported stock build is part of EIA’s large build reported last week, or whether we will see another large build from the EIA tomorrow. Oil prices slid further on Tuesday ahead of the data after a couple days of price rallying courtesy of the Houthi rebels, who claimed Sunday's attack on Saudi oil infrastructure. At 3:19 p.m. EDT, before Tuesday's data release, WTI had fallen by $0.99 on the day (-1.52%) to $64.06. Although down for the day, WTI is still trading up more than $4 per barrel over this time last week. The Brent crude benchmark had also fallen on the day, $0.75 at that time (-1.10%) to $67.49—also more than $4 per barrel up on the week. U.S. oil production rose by 300,000 bpd barrels per day to 10.0 million bpd, according to the Energy Information Administration. Enbridge tanks at Cushing as of March 5. Image courtesy of GeoSpatial Insight The API reported another large draw in gasoline inventories of 8.499 million barrels for the week ending March 5—on top of the previous week's 9.933-million-barrel draw. Analysts had expected a 3.467-million-barrel draw for the week. Distillate stocks saw a large decrease as well, of 4.796 million barrels for the week, after last week's 9.053-million-barrel decrease. Cushing inventories rose by 295,000 barrels. Last week, inventories at the Cushing oil hub increased by 732,000 barrels. Post data release, at 4:35 p.m. EDT, the WTI benchmark was trading at $63.79, while Brent crude was trading at $67.22. By Julianne Geiger for Oilprice.com
waldron
09/3/2021
09:41
DIVI DATES Https://www.shell.com/investors/dividend-information/interim-dividend-timetable.html 4th quarter 2020 Event Date Pounds sterling and euro equivalents announcement date March 15, 2021 Payment date March 29, 2021
ariane
06/3/2021
10:04
Royal Dutch Shell : UK Supreme Court Clarifies Parent Company Liability For ESG-Related Harms Caused By Foreign Subsidiaries 03/05/2021 | 10:11am GMT share with twitter share with LinkedIn share with facebook The UK Supreme Court has handed down its judgment in the case of Okpabi and others v Royal Dutch Shell Plc and another. Although the judgment made no substantive findings on the facts of the dispute, the Supreme Court's decision raised important issues with regard to the circumstances in which a parent company will be held liable for the actions of its subsidiary - including in relation to ESG-related harms, such as environmental damage. As a result of this judgment (which we consider in further depth in our Legal Update) companies will need to consider carefully the extent to which they exercise (or purport to exercise) control over the actions of their subsidiaries - for example, by way of the establishment and implementation of internal policies (including group compliance programs). There is, however, a tension for UK-based multinational corporations with respect to the management of their foreign subsidiaries: on the one hand, if the parent company is seen to be actively involved in the establishment and monitoring of its subsidiary compliance program, it could ultimately risk being an "anchor defendant" for a local action relating to the activities of its subsidiary - thereby establishing a gateway for such action to be brought before the English courts (rather than the local courts); and conversely, if the parent company does not ensure that its compliance program is properly implemented by its subsidiaries, it runs the risk of civil litigation for such failures and criminal prosecution under the "failure to prevent" type offenses. Litigation risk of this nature exists beyond the English courts, too - for example, in January 2021 in another case involving Shell, the Dutch Court of Appeal held that Shell's Nigerian subsidiary was responsible for damage to the livelihood of Nigerian farmers caused by pipeline leaks, as well as holding that the Shell parent company had violated its duty of care towards the Nigerian farmers. A further important factor is the emergence of mandatory human rights due diligence laws (commented on here) which will require parent companies to undertake human rights due diligence on their supply chain (including foreign subsidiaries) and to report on the risks identified and how those risks are being mitigated. Ultimately, the most effective way of addressing the risks that arise from this judgment is by having an effective group compliance program in place (including human rights due diligence) which is properly implemented and audited by the parent company, thereby reducing the likelihood of events occurring which could give rise to similar large-scale group actions. In addition, best-in-class companies are applying the below strategies to continually improve their human rights and environmental risk management: closely monitoring legislative developments relating to mandatory human rights and environmental due diligence; carrying out human rights and environmental impact assessments and taking proportionate counter-measures, as well as communicating internally and externally on what measures have been taken; reviewing and reinforcing complaints mechanisms and speak-up programs, and ensuring the business is well equipped to deal with "crises"; reviewing the extent to which their Board is equipped to address supply chain risks, including through training executives and seeking independent support and advice; and reviewing the role, resources and expertise of the legal and compliance functions, who should play a key part in addressing these new challenges. Read more on this important judgment in our Legal Update . The post UKSupreme Court Clarifies Parent Company Liability for ESG-Related Harms Caused by Foreign Subsidiaries appeared first on Eye on ESG. Visit us at mayerbrown.com Mayer Brown is a global legal services provider comprising legal practices that are separate entities (the "Mayer Brown Practices"). The Mayer Brown Practices are: Mayer Brown LLP and Mayer Brown Europe - Brussels LLP, both limited liability partnerships established in Illinois USA; Mayer Brown International LLP, a limited liability partnership incorporated in England and Wales (authorized and regulated by the Solicitors Regulation Authority and registered in England and Wales number OC 303359); Mayer Brown, a SELAS established in France; Mayer Brown JSM, a Hong Kong partnership and its associated entities in Asia; and Tauil & Chequer Advogados, a Brazilian law partnership with which Mayer Brown is associated. "Mayer Brown" and the Mayer Brown logo are the trademarks of the Mayer Brown Practices in their respective jurisdictions. © Copyright 2020. The Mayer Brown Practices. All rights reserved. This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein. Mayer Brown Mayer Brown 201 Bishopsgate London EC2M 3AF UK Tel: 2031303001 Fax: 2031303000 E-mail: Mnoonan@mayerbrown.com URL: www.mayerbrown.com
ariane
06/3/2021
10:00
Https://en.mercopress.com/2021/03/06/norway-s-equinor-ypf-and-shell-will-operate-a-block-in-north-argentine-basin
ariane
03/3/2021
18:33
DIVIDEND Closing of currency election date March 05, 2021 Pounds sterling and euro equivalents announcement date March 15, 2021 Payment date March 29, 2021
ariane
25/2/2021
09:39
ExxonMobil to Sell Shell, Total-Operated UK Upstream Assets for Over $1 Billion 02/25/2021 | 05:10am GMT (MT Newswires) -- ExxonMobil said Wednesday it will sell the majority of its non-operated upstream assets in the UK central and northern North Sea for over $1 billion. The sale to private equity fund HitecVision, through its wholly-owned portfolio company NEO Energy, could also net the company a further about $300 million in contingent payments based on increases in commodity prices. The agreement includes ownership interests in 14 producing fields operated primarily by Royal Dutch Shell (RDSA.L, RDSA.AS), the Elgin Franklin fields operated by Total (TTA.L, FP.PA, FP.BR), and interests in the associated infrastructure. The company will retain its non-operated share in upstream assets in the southern North Sea, and its share in the Shell Esso gas and liquids infrastructure that supplies ethane to the company’s Fife ethylene plant. The transaction is expected to close by the middle of 2021. Shell's stock jumped over 3%, while Total gained almost 3% on Wednesday's close. Price (GBP): £1481.60, Change: £47.80, Percent Change: +3.33%
grupo guitarlumber
24/2/2021
10:18
Notice of Results The Hague, February 24(th) 2021 - On Thursday April 29(th) 2021 at 07:00 BST (08:00 CEST and 02:00 EDT) Royal Dutch Shell plc will release its first quarter results and first quarter interim dividend announcement for 2021. These announcements will be available on Https://www.globenewswire.com/Tracker?data=oVtb72GzfhVkHDBI6iQAPCfcA8s2-VPtzGQzb7XKTdGCPKXam57LNdFlv_Ty0IUHMUXfdKGgxxcvIoR9YamM4lHqvs6R4KDWZTFpZXl39phTdpCgvRNUqnrzcBrCukfC Http://www.shell.com/investors. (END) Dow Jones Newswires February 24, 2021 04:27 ET (09:27 GMT)
grupo
21/2/2021
09:22
subsurface 20 Feb '21 - 22:47 - 53249 of 53250 0 0 0 Oil Report hTTps://www.energy-pedia.com/news/general/big-oil-incurred-record-loss-in-2020--joint-output-fell-by-0-9-million-boepd-and-will-peak-lower-in-2028---rystad-energy-182073
waldron
17/2/2021
13:56
Ex- Dividend Date for ADS.A and ADS.B February 18, 2021 Ex- Dividend Date for RDS A and RDS B February 18, 2021 Record date February 19, 2021 Closing of currency election date (see Note below) March 05, 2021 Pounds sterling and euro equivalents announcement date March 15, 2021 Payment date March 29, 2021
adrian j boris
16/2/2021
17:08
$100 Oil: Big Banks Believe A New Oil Supercycle Is Beginning By Julianne Geiger - Feb 16, 2021, 11:00 AM CST Join Our Community Some of the world’s biggest names in oil trading and analyzing can’t seem to get on the same page when it comes to predicting what will happen next for the volatile commodity. Some, like Jeffrey Currie of Goldman Sachs and Christyan Malek of JPMorgan, according to the Financial Times, are confident that oil is ready for the next supercycle—a prolonged rise in the price of oil. And when they refer to this rise, they’re talking $80, or even $100 per barrel. Others, like oil analyst Arjun Murti who correctly predicted the last $100+ per barrel achievement seen between 2008 and 2014, say that talk of this next supercycle may be a bit hasty. For Malek, he sees a situation where demand outstrips supply, before “we don’t need it in the years to come.” The reason for supercycle predictions is simple: stimulus packages, most notably the stimulus package that the U.S. government is expected to roll out, are expected to boost consumption. And according to Currie, this stimulus will create a “significant, commodity-intensive consumption” as the stimulus package is mostly targeting lower and middle-income households. “These people don’t drive Teslas,” Currie explained. “They drive SUVs”. Murti, on the other hand, thinks that if oil demand were to increase by a half a million barrels per day over the next year, it wouldn’t be enough to outstrip supply. As a point of reference, global oil demand sank roughly 10 million barrels per day as a result of the pandemic in 2020. If, however, oil demand were to pick up steam by as much as 1.4 million barrels per day, a supercycle may follow. Veteran trader Pierre Andurand told the Financial Times that the fate of oil prices rests on OPEC—specifically on how much oil they supply. Standing in the way of the next supercycle, says Andurand, could be Iran returning to the global oil markets, and OPEC’s production in general. Retired veteran trader—a particularly successful one that made a not-so-small fortune on oil’s last supercycle—Andy Hall, sees the oil market in “terminal decline” the Financial Times writes, and likened any price rally as a dead cat bounce. By Julianne Geiger for Oilprice.com
misca2
11/2/2021
11:36
Giacomo Romeo from Jefferies retains his positive opinion on the stock with a Buy rating. The target price remains set at GBX 1780. Analyst Jon Rigby from UBS research considers the stock attractive and recommends it with a Buy rating. The target price is unchanged and still at GBX 1810.
maywillow
11/2/2021
09:41
Global Oil Market's Cautious Rebalancing Is Underway, IEA Says 11 February 2021 - 09:29AM Dow Jones News --The IEA has increased its non-OPEC 2021 supply forecast --The oil market is set for "rapid stock draw" in the second half of the year, the IEA says --The agency says North American production is rebounding By David Hodari The global supply and demand of crude oil are on course to continue rebalancing this year, after the turmoil brought by the pandemic in 2020, the International Energy Agency said Thursday. Despite increasing its estimates for the world's oil output in 2021, the IEA said in its closely-watched monthly market report that a recovery in demand will outstrip rising production in the second half of the year to prompt "a rapid stock draw" of the glut of crude built up since the outbreak of the coronavirus. The agency significantly increased its forecast for producing nations outside of the production pact between the Organization of the Petroleum Exporting Countries and allies such as Russia, upping non-OPEC supply by 290,000 barrels a day to an increase of 830,000 barrels a day this year. At the same time, the IEA trimmed its forecast for global oil demand by 200,000 barrels a day to 96.4 million barrels--around 3% less than in 2019, before the coronavirus pandemic--although added that part of that change came thanks to a change to historic data. Even so, with much of the developed world grappling with fresh Covid-19 variants and renewed lockdown restrictions, a brightening economic outlook and strict supply discipline from OPEC-plus are hastening the drawdown in global oil inventories, the IEA said. It added that "the prospect of tighter markets ahead" has been responsible for a sharp rally in oil prices in recent weeks. Crude prices slipped early Thursday, giving up a fraction of their recent gains. Brent crude, the global benchmark, was last down 0.6% at $61.13 a barrel after climbing for nine straight sessions to notch gains of 11% so far in February and break through the $60-a-barrel level for the first time in a year. West Texas Intermediate futures, the U.S. benchmark, fell 0.6% to $58.31 a barrel. The beginning of February saw Saudi Arabia--one of the world's largest producers--unilaterally cut an additional 1 million barrels of crude a day in a move that surprised the world when it was announced the month prior. Along with resilient demand in developing-world powerhouses, such as China and India, as well as hopes of a large U.S. stimulus bill and ecstatic trading in broader financial markets, Riyadh's move has helped fuel a recovery in oil prices. The so-far successful efforts of OPEC-plus to hold back supply, the hoped success of coronavirus vaccination programs, and the prospect of weaker travel restrictions remain the basis for cautious forecasts of an oil-market recovery, the IEA said. In that context, the production of non-OPEC producers will be in focus in the coming months. Those countries, particularly the U.S. and Canada, are responding to those higher prices, "albeit cautiously and from a low level," the IEA said. Drilling and well completion-rates in the Permian Basin have steadily risen in recent months and, while U.S. oil companies are under pressure to reward shareholders and retain financial discipline, current oil prices mean "there is clearly potential for some producers to respect those engagements and modestly increase their capital expenditures," the report added. Canada, meanwhile, is now pumping at record rates, having restored nearly all the production shut during the nadir of the collapse of the global oil market in April. If balances continue to tighten and non-OPEC producers ramp up production, that could fray the cohesion of OPEC-plus cuts, the IEA said. That might have consequences for the oil-price rally. Write to David Hodari at david.hodari@wsj.com (END) Dow Jones Newswires February 11, 2021 04:14 ET (09:14 GMT)
ariane
11/2/2021
08:42
Shell Says Its Oil Production Has Begun a Long-Term Decline Laura Hurst, Bloomberg News AddThis Sharing Buttons Share to Facebook Share to TwitterShare to LinkedInShare to EmailShare to Plus d'options... A Shell logo sits on a sign at a gas station, operated by Royal Dutch Shell Plc., in Rotterdam, Netherlands, on Wednesday, July 25, 2018. Shell is scheduled to release earnings figures on July 26. Photographer: Jasper Juinen/Bloomberg A Shell logo sits on a sign at a gas station, operated by Royal Dutch Shell Plc., in Rotterdam, Netherlands, on Wednesday, July 25, 2018. Shell is scheduled to release earnings figures on July 26. Photographer: Jasper Juinen/Bloomberg , Photographer: Jasper Juinen/Bloomberg (Bloomberg) -- Royal Dutch Shell Plc said its carbon emissions and oil production have already peaked and will decline in the coming years as the company laid out a detailed plan for its transition to cleaner energy. In a sign of how much the petroleum industry has shifted away from its mantra of growth and exploration, Shell said its oil production will fall by 1% to 2% a year. Output of “traditional fuels” will be 55% lower by 2030. In a wide-ranging strategy update published on Thursday, the Anglo-Dutch company set new targets for electric-car charging, carbon capture and storage, and electricity generation. It also sought to reassure investors that it could maintain returns through the energy transition, reiterating its pledge for an annual dividend increase of about 4% and the resumption of share buybacks once its net-debt target has been achieved. “Our accelerated strategy will drive down carbon emissions and will deliver value for our shareholders, our customers and wider society,” Shell Chief Executive Officer Ben van Beurden said in a statement. Unlike its peers BP Plc and Total SE, Shell didn’t announce any large deals to rapidly boost its clean-energy capacity. That’s in keeping with Shell’s approach since announcing its net-zero target in April. Shell said its net carbon intensity will fall by 6% to 8% in 2023, compared with 2016. That reduction will widen to 20% in 2030, 45% in 2035 and 100% by 2050.
ariane
08/2/2021
12:49
Is There An Oil Price Correction Coming? By Julianne Geiger - Feb 05, 2021, 5:00 PM CST Even as Baker Hughes reported a rise in the number of active drilling rigs in the United States on Friday, oil prices continued to see gains on Friday afternoon. At 4:19pm EDT, WTI crude was still up 1.32% on the day at $56.97. Brent was still up over 1% on the day, at $59.44—dangerously close to the $60 psychological threshold for the benchmark. Last week at this time, the spot price for Brent was just $55.04. The near $5 gain is due to a combination of factors, including a large crude oil inventory decrease in the United States, continuing OPEC+ production restraint, Aramco’s price hike to crude for Europe, U.S. traders drunk on stimulus chatter, and whispers of an overall tightening oil market. These are bullish signals indeed. But can this uptrend last amid lockdown extensions and oil demand that just isn’t there yet? When a stimulus deal is finalized, oil prices are expected to jump—this is certainly still bullish. But on the bearish side, oil demand is still lagging, and some analysts are not calling for a full rebound in demand for years—if ever. The EIA, for one, doesn’t see U.S. energy consumption rebounding fully for another eight years. That’s certainly on the bearish side. Will OPEC will be able hold back the flood of supply until that time? Can they afford not to? Russia is still itching to ramp up its oil production, leery of opening the door for U.S. shale producers. For now, Saudi Arabia is happy to take one for the team, resigned to curb production so others in the group will continue with at least some of the cuts. For now, OPEC’s actions are bullish. The EIA sees U.S. oil production setting new records, but not until 2023. Goldman Sachs, however, is still bullish, calling for $65 Brent by mid-year, with WTI in the low $60s. Rystad Energy, however, sees a price correction on the horizon. “Many technical indicators are flashing red, so a price correction soon would not be unsurprising,” Rystad said on Friday, according to Oilfield Technology. By Julianne Geiger For Oilprice.com
ariane
08/2/2021
12:44
Https://seekingalpha.com/article/4404229-royal-dutch-shell-fourth-quarter-and-full-year-2020-detailed-analysis?mail_subject=rds-a-royal-dutch-shell-fourth-quarter-and-full-year-2020-detailed-analysis&utm_campaign=rta-stock-article&utm_content=link-2&utm_medium=email&utm_source=seeking_alpha
ariane
04/2/2021
22:29
Don't Sell Shell Feb. 04, 2021 5:24 PM ETRoyal Dutch Shell plc (RDS.A), RDS.BRYDAFRYDBF1 Comment2 Likes Summary Shell's dreadful stock price action in 2020 is coming to an end. All the bad news has been priced in and the stock offers good value now. Oil fundamentals look supportive but even with flat oil prices, Shell's financials look to be getting stronger, providing strong dividend cover. The Strategy Day on 11th February could offer a catalyst for investors to reconsider Shell as a serious Energy Transition investment option. The December 21st trading update from Royal Dutch Shell (RDS.A) largely foresaw the torrid Q4 results and 2020 full year results just released. In a nutshell, 2020 was an exceptionally challenging year for the oil major. What should Shell shareholders do? While the company is trying to reposition itself for the new energy landscape ahead, the headlines have been consistently bad for the Anglo-Dutch company. Profit warnings, write-downs, collapsing prices for oil, collapsing refinery margins, the first cut in dividends for decades, a falling share price, and finally the departure of several clean energy executives amid internal arguments over its clean energy strategy have all contributed to the bear market in Shell's stock in the last year. The 36% fall in the stock price over the last year sounds bad, but there is a fundamental truth in oil markets and that is that the cure for low oil prices is low oil prices. That’s why the weakness in the sector, the cutbacks in production and investment will cause higher oil prices going forward, as I have already pitched in a recent Seeking Alpha article on crude oil, that so far is playing out nicely. The pessimism about Shell, coupled with some positive signs on the horizon and my bullish outlook on oil in fact make Shell a very good contrarian play. The fact that December’s profit warning did not do much damage to the share price suggests that all the bad news is already priced in and indeed the stock has started to rise over the last couple of months. The Global Investor thinks this recent price action isn’t a dead cat bounce, but the start of a rally back to a fairer, higher price for Shell's stock. Oil majors have traditionally been core income stocks for many portfolios but after the first dividend cuts in decades last year, when the dividend was cut 66% it has since been raised slightly in October and now been raised again slightly some more. This gives the stock a current dividend yield of about 3.6%. What’s more, Shell is still slashing costs and capital expenditure, like the rest of the oil and gas industry, and US shale output is falling thanks to weak pricing. This suggests low prices will squeeze out uneconomic supply and help oil prices continue their recovery. And with the rollout of vaccination programs, some oil demand lost in 2020 should come back in 2021, further tightening the supply-demand balance towards higher oil prices. Another contrarian indicator is that the oil and gas industry is now hated by institutional investors, either for financial reasons or for environmental, social and governance - ESG - reasons and this has simply gone too far. The weighting of the Oil & Gas sector in the main stock market indexes is at lows last seen in the 1990s when oil prices ranged from $10-$20 per barrel. Risks This brings us to the risks of owning Shell right now. ESG is a new force in the markets, so some investors simply won’t look at Shell for a long time. Long-term oil demand has probably peaked and the switch to renewable sources of energy will be bumpy as the company is finding in its transition efforts to date. Shell also has the risk that it gets stuck with “stranded assets” with its large reserves of oil and gas. This means Shell’s book value is bound to be higher than its market value as investors price in further write-downs to its asset values. Shell has traditionally been a very reliable dividend payer, but the energy transition makes it almost impossible to balance the needs of high dividend payouts with the large investments required in greener energies. While the dividend has been cut deeply to a lower level, investors cannot assume it will rise back to its previous level quickly as the volatility in energy markets and the restructuring needs of Shell will probably dictate otherwise. Indeed, Shell's management has called it a dividend "reset". The future It is expected that Shell will outline a radical new strategy at its investor day scheduled for February 11th. The new strategy, likely to focus on clean energy, and to more closely follow BP’s radical restructuring plans that started last year, could appeal to investors who are looking more at the rate of change in ESG factors than in the absolute level of how good a company is on current ESG measures, specifically with respect to climate change and carbon emissions. Strategy Day on February 11th Ultimately, The Global Investor expects Shell to try to strike a balance between driving meaningful change towards 'Net Zero' emissions but also to maximize value from existing businesses over the intermediate period. The following are some of the topics I expect Shell to cover in the forthcoming Strategy Day which I expect to help turn market sentiment back towards Shell’s favor. Net zero by 2050 or earlier – Shell already outlined this target back in April last year but didn’t give much detail and so wasn’t seen as that credible. Shell will probably present its business plan in more detail to get to these targets. Upstream oil & gas to underpin cash generation. Having made the mega acquisition of gas major BG Group back in 2016, Shell is more committed to oil & gas than BP who have outlined plans to cut production by 40% over the next decade. Given Shell's project pipeline, its portfolio still has some growth potential but during last year’s Q3 results CEO Ben van Beurden said "It’s probably fair to say that 2019 was the high point in terms of oil production". So Shell is probably keen to keep a relatively flat production profile as it looks to sell non-core positions as it uses its Upstream division to act as a key contributor to cash generation over the next decade, through both operations as well as disposals. While this might disappoint ESG investors who argue for more aggressive action, it will keep dividend investors happy as this strategy reduces risks to free cash flow generation. Strength in natural gas, the bridge fuel. Shell is the world’s largest player in LNG so it’s likely Shell will highlight the role of natural gas as the “transition fuel” helping reduce carbon emissions because of its cleaner properties compared to coal and its vital role in electricity generation. The term "bridge" comes about because natural gas can support renewables over the period where wind and solar still suffer from intermittency issues. In 2019 Shell said it expected the LNG market to grow at 4% per year over the next few years. Last year management said Shell’s LNG business will not necessarily match the market "percent for percent" which might mean lower capex needs in this division. LNG will remain a key cash generator over the next decade so expect updates on Shell’s LNG outlook on 11th February. Growth opportunities in hydrogen and biofuels. For renewables, Shell will likely emphasize both hydrogen and biofuels given hydrogen is a natural fit as it is already produced and consumed in Shell’s refining business. Shell already has about 50 hydrogen fueling stations mostly in Germany and California. In biofuels, Shell is one of the largest blenders and distributors globally, partly due to its 50:50 joint venture with Raizen in Brazil. Shell will likely highlight its expansion in wind and solar, businesses which are getting extremely competitive now. Shell will look to leverage its strong Marketing and Trading positions to sell more electricity to the customers who currently buy fossil fuels from their large global customer networks. New Energies to account for about 25% of capital expenditure over the next few years. At last year’s 3Q earnings announcement, Shell guided that capex would remain in the $19-22 billion range over the coming years. It gave high level guidance on the breakdown between segments: 35-40% for Upstream, 35-40% for “Transition business”, which includes Integrated Gas, Chemicals and Refining, and about 25% to growth businesses such as Marketing, Power, Hydrogen, Biofuels and carbon capture, utilization and storage with nature-based solutions. The Global Investor expects Shell to update this breakdown and give more detail. Overall, hydrocarbons will remain part of Shell’s core strategy over the next decade. This gives it less execution risk on restructuring compared to its great rival BP, but makes it more exposed to oil and gas commodity prices. While ESG investors do play a role at the margin, and maybe a larger role in Europe, The Global Investor still believes the stock market is overall, at least in the long term, amoral. Short term trends matter and ESG has driven investors away from oil & gas but it could also be argued that that’s mostly happened because of weaker financial returns in the sector. If Shell can raise its profits through higher oil prices, Shell can raise its dividends and investors will put a higher valuation on the stock because of higher dividends. Dividends So, it comes back to dividends ultimately. That has always been the driver of Shell’s share price. Assuming oil prices at about $50/bbl over the next few years – more conservative than my actual view – I think Shell will generate $13-14 billion in free cash flow each year. At current dividend levels this implies dividend cover of about 2.5x, a very high number for Shell historically. This means Shell's balance sheet will start to de-leverage quickly. Management has indicated that when net debt falls to about $65 billion it will re-start its share buyback program. This could happen around the middle of next year if oil prices hold. Currently, Shell is guiding for 4% dividend growth per year, but there is big upside potential to this number. Before the dividend reset last year, Shell’s dividend had become unstainable given the investment needed in the energy transition. Valuation Shell’s dividend yield over the last 10 years had bounced around the 6% level as it was always assumed the dividend was unstainable. After the reset a much lower more sustainable dividend yield would be more like 3.5% or 3.6%. Taking 3.6% to be conservative, and a forecast full year 2022 dividend of $1.39 per share for the “A” class ADRs would give us a stock price of about $39, or about 6% higher than where it is at the time of this writing. While this isn’t massive upside, the dividend yield of 3.6% and dividend growth of 4-5% per year offers us good stability. All this assumes conservative oil price forecasts and gives Shell ample room to de-lever and increase share buybacks or accelerate dividend growth, which should further put a bid on the stock price. Conclusion Value investors and income seekers should continue to own Shell. Shell is very likely to always be a “Supermajor221; but with its focus shifting gradually towards energy in general and away from its historical reliance on oil but gas will play a major role for a long period. Energy is a core need in society so Shell is likely to be able to keep its large size and retain its status as a core “income portfolio” position thanks to strong and stable dividends. In the short term, rebounding oil prices should help near term cash flows and hence drive stock price appreciation. A successful investor day on February 11th could help change Shell’s perception amongst the sustainable investment crowd and market sentiment towards companies through lowering the climate / sustainability / reputational risk for institutional investors in owning Shell. This sustainability focus for investors accounts for a very large section of European institutional investors now. So things are improving now and it's likely we've seen the low in the Shell share price. The bottom line is that Shell is worth holding as a small part of your portfolio.
sarkasm
04/2/2021
21:25
Shell must take 'hard look' at Nigeria assets, CEO van Beurden says Feb. 04, 2021 2:58 PM ETRoyal Dutch Shell plc (RDS.A)By: Carl Surran, SA News Editor8 Comments Persistent incidents of pipeline sabotage and oil theft in Nigeria's Niger delta region have pushed Royal Dutch Shell (RDS.A -1.1%) to reconsider its position in the country, CEO Ben van Beurden says. Nigeria is a "headache," and the lack of security in the Niger delta has prompted the company to "take a hard look" at its onshore assets there, van Beurden told today's earnings conference call. Shell's onshore portfolio in Nigeria, which operates a joint venture with state-owned NNPC, Total and Eni, already has been sold down by ~50% over the past 10 years, the CEO noted. The constant security and operational challenges in the Niger Delta have long held reputational and legal risks for Shell; just last week, the Hague Court of Appeal ordered the company to compensate three farmers there for damage caused by oil leaks in 2005. "We believed the leak was caused by sabotage and the judge ruled that could not be proven beyond reasonable doubt, therefore we are liable for damages," van Beurden said. Shell shares are lower after posting a Q4 loss but saying it expects a strong recovery of oil demand in H2.
misca2
04/2/2021
21:23
Https://seekingalpha.com/article/4403462-royal-dutch-shell-plc-rds-ceo-ben-van-beurden-on-q4-2020-results-earnings-call-transcript?mail_subject=rds-a-royal-dutch-shell-plc-rds-a-ceo-ben-van-beurden-on-q4-2020-results-earnings-call-transcript&utm_campaign=rta-stock-article&;utm_content=link-0&utm_medium=email&utm_source=seeking_alpha
misca2
04/2/2021
20:02
Https://www.dw.com/en/france-wont-meddle-in-german-choices-over-nord-stream-2/a-56444356
misca2
04/2/2021
15:33
Https://seekingalpha.com/article/4403337-royal-dutch-shell-plc-2020-q4-results-earnings-call-presentation?mail_subject=rds-a-royal-dutch-shell-plc-2020-q4-results-earnings-call-presentation&utm_campaign=rta-stock-article&utm_content=link-0&utm_medium=email&utm_source=seeking_alpha
maywillow
04/2/2021
13:04
LONDON -- Royal Dutch Shell PLC reported a fourth-quarter loss as it continued to grapple with the fallout of the pandemic but said it would raise its dividend, forecasting a recovery in demand later this year. International oil companies are reporting one of their worst annual performances in decades after Covid-19 sapped demand for oil, hitting prices. In response, energy companies have slashed spending, cut jobs and written down the value of their assets. Shell on Thursday reported a fourth-quarter loss on a net current-cost-of-supplies basis -- a figure similar to the net income that U.S. oil companies report -- of $4.5 billion, down from a profit of $871 million in the same period the previous year. For the full year Shell reported a loss of $19.9 billion, from a profit of $15.3 billion in 2019. Shell's peers including Exxon Mobil Corp., Chevron Corp. and BP PLC also reported losses for 2020. Shell said its profit was hit by a fall in oil and gas production and weak refining margins, as well as already flagged asset write-downs and charges related to onerous contracts. Overall, Shell's full-year posttax write-downs totaled $21.3 billion, partly reflecting lower energy prices. That is part of a broader revision of asset values across the industry, triggered by the pandemic, which has been the steepest in at least a decade. Shell said that while it was still feeling the impact of the pandemic with weaker energy demand, it had seen some signs of recovery in the fourth quarter and was optimistic about a continued rebound. "I am optimistic that in the second half of the year we see a much more fulsome recovery," said Chief Executive Ben van Beurden. Oil demand is around 5% to 7% below the levels of 2019, but should return to those levels in 2022, as the aviation sector in particular recovers, he added. Shell said it would raise its first-quarter dividend by 4%, in line with the commitment made to shareholders last year of annual increases, after cutting it in April for the first time since World War II by two-thirds. "We are coming out of 2020 with a stronger balance sheet, ready to accelerate our strategy and make the future of energy," said Mr. van Beurden. The company has said it would give an update next Thursday on its continuing restructuring and broader strategy to accelerate investments in low-carbon energy. Rivals Total SE and BP have already laid out targets to increase renewable power generation, while reducing their dependence on fossil fuels. The pivot to renewable energy comes as Shell and others in the industry are also seeking to reduce debt. Shell wants to cut its debt to $65 billion from $75.4 billion at the end of the fourth quarter. That is down from $79 billion a year ago after a number of asset sales. Write to Sarah McFarlane at sarah.mcfarlane@wsj.com (END) Dow Jones Newswires February 04, 2021 07:44 ET (12:44 GMT)
maywillow
04/2/2021
11:37
Royal Dutch Shell PLC, one of the world's largest oil-and-gas companies, released its fourth quarter 2020 results Thursday, which revealed an 87% drop in earnings. The company blamed the economic impact of the coronavirus pandemic, which hammered oil demand and with it oil prices and refining margins. While the company raised its dividend, its shares were last down 1.4% at GBP13.18. Here are some more remarks from Shell's report: On Gas: "Compared with the fourth quarter 2019, Integrated Gas Adjusted Earnings of $1,109 million primarily reflected lower realised prices for LNG, oil and gas and lower contributions from trading and optimisation, partly offset by lower operating expenses... Compared with the full year 2019, total oil and gas production decreased by 1% mainly due to more maintenance activities and lower wells performance" On Upstream: "Compared with the fourth quarter 2019, Upstream Adjusted Earnings were a loss of $748 million, reflecting lower oil and gas prices, lower production volumes mainly driven by hurricanes affecting US Gulf of Mexico production and OPEC+ restrictions, and unfavourable deferred tax movements... total production decreased by 10%, mainly due to the impact of divestments, lower production in the NAM joint venture, OPEC+ restrictions and higher maintenance. New fields and ramp-ups, mainly in Brazil, offset the impact of field declines." On Refined Products: "Compared with the full year 2019, Oil Products Adjusted Earnings of $5,995 million reflected lower realised refining margins and lower marketing sales volumes due to the weak macroeconomic environment and the COVID-19 pandemic. These were partly offset by lower operating expenses, contributions from crude and oil products trading and optimisation, and favourable deferred tax movements." On 1Q 2021: "As a result of the COVID-19 pandemic, there continues to be significant uncertainty in the macroeconomic conditions with an expected negative impact on demand for oil, gas and related products... Due to demand or regulatory requirements and/or constraints in infrastructure, Shell may need to take measures to curtail or reduce oil and/or gas production, LNG liquefaction as well as utilisation of refining and chemicals plants and similarly sales volumes could be impacted. Such measures will likely have a variety of impacts on our operational and financial metrics." On Debt: "Net debt was $75.4 billion at the end of the fourth quarter 2020, compared with $73.5 billion at the end of the third quarter 2020, mainly driven by lower free cash flow generation and by lease additions, partly offset by favourable foreign currency exchange translation differences." Shell CEO Ben van Beurden on 2020: "2020 was an extraordinary year. We have taken tough but decisive actions and demonstrated highly resilient operational delivery... We are coming out of 2020 with a stronger balance sheet, ready to accelerate our strategy and make the future of energy. We are committed to our progressive dividend policy and expect to grow our US dollar dividend per share by around 4% as of the first quarter 2021." Write to David Hodari at david.hodari@wsj.com. (END) Dow Jones Newswires February 04, 2021 06:08 ET (11:08 GMT)
maywillow
04/2/2021
09:04
Oil major Shell reports sharp drop in full-year profit, raises dividend Published Thu, Feb 4 20212:31 AM ESTUpdated Thu, Feb 4 20213:18 AM EST Sam Meredith @smeredith19 Share Key Points Shell reported adjusted earnings of $4.85 billion for the full-year 2020. That compared with a profit of $16.5 billion for the full-year 2019. The company said it would raise its first-quarter dividend to $0.1735 per share, reflecting an increase of 4% from the previous quarter. The results come as energy giants seek to reassure investors about their future profitability, following a dreadful year for the global oil and gas industry by virtually every measure. Royal Dutch Shell products in Torzhok, Russia. Royal Dutch Shell products in Torzhok, Russia. Andrey Rudakov | Bloomberg | Getty Images LONDON — Oil giant Royal Dutch Shell on Thursday reported a sharp drop in full-year profit as the coronavirus pandemic took a heavy toll on the global oil and gas industry. Shell reported adjusted earnings of $4.85 billion for the full-year 2020. That compared with a profit of $16.5 billion for the full-year 2019, reflecting a drop of 71%. Analysts polled by Refinitiv had expected full-year 2020 net profit to come in $5.15 billion. For the final quarter of 2020, Shell reported adjusted earnings of $393 million, missing analyst expectations of $470.5 million. The company said it would raise its first-quarter dividend to $0.1735 per share, an increase of 4% from the previous quarter. Shell CEO Ben van Beurden described 2020 as an “extraordinary” year. “We have taken tough but decisive actions and demonstrated highly resilient operational delivery while caring for our people, customers and communities. We are coming out of 2020 with a stronger balance sheet, ready to accelerate our strategy and make the future of energy,” van Beurden said in a statement. Income attributable to Shell shareholders collapsed by 237% to a loss of $21.7 billion in full-year 2020, down from a profit of $15.8 billion in full-year 2019. PUBLICITÉ Shell said this was the first full-year headline loss since the unification of Royal Dutch Petroleum Company and Shell Transport & Trading Company to one parent company in 2005. Energy supermajors endured a dreadful 12 months by virtually every measure in 2020 and the industry faces significant challenges and uncertainties as it seeks to recover. Last year, the Covid pandemic coincided with a historic demand shock, falling commodity prices, evaporating profits, unprecedented write-downs and tens of thousands of job cuts. Shell said it had reduced its net debt by $4 billion to $75 billion over the course of 2020. Shares of the company are up more than 3% year-to-date, having plummeted over 44% last year. 2021 outlook Shell’s results come as oil and gas giants seek to reassure investors about their future profitability, pointing to an expected upswing in fuel demand in the second half of the year and a mass rollout of Covid vaccines. However, renewed lockdown measures and limited mobility worldwide amid the ongoing Covid-19 crisis has prompted some of Shell’s peers to warn of a tough start to 2021. U.S. major Exxon Mobil reported on Tuesday that it had lost $20.1 billion during the most recent quarter, while U.K.-based oil and gas company BP posted its first full-year net loss in a decade. International benchmark Brent crude futures traded at $58.81 a barrel on Thursday morning, up around 0.6%, while U.S. West Texas Intermediate crude futures stood at $56.08, more than 0.7% higher. Oil prices have steadily improved since the start of the year, with WTI climbing to its highest level in more than a year in the previous session. Crude futures have been supported by ongoing production cuts and the mass rollout of Covid vaccines. OPEC and non-OPEC partners, an oil producer group sometimes referred to as OPEC+, maintained their production policy on Wednesday, buoyed by rising oil prices. The energy alliance said it was “optimistic221; for a year of recovery in 2021.
waldron
04/2/2021
08:52
-Shell ended 2020 with a $4 billion loss in the fourth quarter, dragged by impairments and other one-offs --Adjusted CCS earnings came in at a profit but below the market consensus --Net debt increased to more than $75 billion. By Jaime Llinares Taboada Royal Dutch Shell PLC on Thursday posted a loss for the fourth quarter of the year as its underlying performance was worse than expected. The Anglo-Dutch oil-and-gas major booked a net loss of $4.01 billion for the three months to Dec. 31, swinging from a $489 million profit for the third quarter and a $965 million profit for the fourth quarter of 2019. This was largely caused by impairment charges of $2.7 billion and $1.1 billion in costs related to contract provisions. The full-year loss was $21.68 billion compared with a $15.84 billion profit for 2019. Fourth-quarter adjusted earnings on a current cost of supplies basis came in at $393 million, down from $955 million in the third quarter and below the market consensus of $597 million, taken from Vara Research and based on 25 analysts' forecasts. The metric is a figure similar to the net income that U.S. oil companies report, but strips out exceptional items. Adjusted CCS earnings were been $2.93 billion in the fourth quarter of 2019. The FTSE 100 company said the on-year decline was driven by lower realized prices for oil and liquefied natural gas, as well as lower production and realized refining margins. Operating cash flow fell to $6.29 billion from $10.40 billion for the third quarter and from $10.27 billion for a year earlier. Shell declared a quarterly dividend of $0.1665, bringing the full-year payment to $0.653--down from $1.88 in 2019. In addition, the company anticipated a payment of $0.1735 a share for the first quarter of 2021. Net debt as at the end of the year was $75.4 billion, up from $73.5 billion at the end of the third quarter, driven by lower free cash flow generation and lease additions. Shell has a target to reduce net debt to $65 billion before distributing 20%-30% of cash flow from operations to shareholders through dividends and share buybacks. Looking ahead, Shell warned that headwinds will continue in the first quarter of 2021. "As a result of the Covid-19 pandemic, there continues to be significant uncertainty in the macroeconomic conditions with an expected negative impact on demand for oil, gas and related products." Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT (END) Dow Jones Newswires February 04, 2021 02:57 ET (07:57 GMT)
waldron
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