Shell Share Discussion Threads

[waldron] 29/5/2017 23:38

Oil rises second day as OPEC cuts seen bringing stockpiles lower
By Robert Tuttle on 5/29/2017

CALGARY (Bloomberg) -- Oil rose on expectations OPEC will succeed in bringing down inventories as the summer driving season kicks off in the U.S.

Futures climbed for a second session in New York after an OPEC-led deal to extend output limits through March was initially met with a selloff last week as deeper cuts or a plan for the rest of 2018 weren’t proposed. But Saudi Arabia’s Energy Minister Khalid Al-Falih said the strategy is working and stockpiles will drop faster in the third quarter. Many expect the driving season that’s starting with the Memorial Day holiday to help ease the glut.

The cuts “will continue to help inventories draw through the summer,” said Craig Bethune, a fund manager at Manulife Asset Management Ltd. in Toronto who focuses on energy and natural resources investments. There is “modest recovery from the OPEC selloff the other day.”

U.S. inventories have dropped seven weeks in a row in a sign Al-Falih may be right, though they still remain above the five-year average. To speed up that decline, Saudi Arabia plans to reduce exports to the world’s biggest consumer.

The shale expansion that many fear will offset the Organization of Petroleum Exporting Countries’ efforts showed the first signs of slowing down last week, with the fewest rigs added this year, Baker Hughes Inc. data show.

West Texas Intermediate for July delivery rose 19 cents, or 0.4%, to $49.99/bbl as trading halted on the New York Mercantile Exchange around 1 p.m. Earlier, it touched $50.28. There will be no settlement on Monday because of the holiday. Total volume was about 78% below the 100-day average. Prices fell 1.1% last week.

Brent for July settlement rose 14 cents, or 0.3%, to $52.29/bbl on the London-based ICE Futures Europe exchange, trading at a premium of $2.30 to WTI. The global benchmark crude fell 2.7% last week.

“We believe the next big move for prices is up as oil inventories fall at an even faster pace in the coming weeks,” Giovanni Staunovo, a Zurich-based commodity analyst at UBS Group AG, said by email. While U.S. shale output is set for “robust growth” in the second half of the year, “we see the oil market tightening further in the coming quarters,” he said.

Rigs targeting crude in the U.S. increased for a 19th straight week in the longest streak of gains since August 2011, the Baker Hughes data show. But while the number has more than doubled from last year’s low, to 722, the total rose by a meager two rigs last week. Drillers in Colorado led the growth. The nation’s busiest oil patch, the Permian basin of west Texas and New Mexico, added just one, its smallest gain in more than a month.

[sarkasm] 28/5/2017 17:43

Is Texas the new 'swing' producer' of black gold?
Matein Khalid/Dubai
Filed on May 28, 2017 | Last updated on May 28, 2017 at 07.57 pm

Share
Vote
0

An oilfield on the Monterey Shale formation near McKittrick, California. The harsh reality of the world oil market is that US shale oil producers have added 900,000 barrels per day to their output since October 2016 alone.
(AFP)
Are we witnessing the beginning of a new oil world order?

Saudi Arabia engineered a short covering rally and cyclical bottom in Brent crude with its May 15 agreement with Russia to roll over last November's oil output cuts for another nine months. The kingdom has, in essence, resumed its traditional role as the "swing producer" of the Opec, a role that former energy minister Ali Al Naimi had abandoned in November 2014 in a quest to protect downstream market share in Asia from Iraq and Iran.

This strategy failed after Brent crude plunged from $115 in the summer of 2014 to $28 in February 2016 even as the US Dollar Index rallied by 28 per cent. The kingdom changed its strategy under the leadership of Khalid Al Falih and Prince Abdulaziz bin Salman at the Opec ministerial meeting in November 2016.

Saudi Arabia engineered a 1.2 million a bpd Opec output cut and cooperated with Russia, Mexico, Oman and Azerbaijan to arrange another 600,000 barrels in non-Opec cuts. This shift in Saudi strategy and intentions was enough to push Brent crude higher to $54 a barrel.

So it was a nasty surprise for the oil markets after speculators in black gold futures caused a 11 per cent fall in both West Texas and Brent crude in late April and May 2017. The oil markets were spooked by bloated global inventories, rumours of Russian and Iraqi non-compliance, a surge in the US land rig count and shale oil output and a 30 per cent fall in Dalian iron ore, a proxy for Chinese industrial growth. This was the context for the May 15 Saudi-Russian extension announcement.

The harsh reality of the world oil market is that US shale oil producers have added 900,000 barrels per day to their output since October 2016 alone. Even though compliance from Saudi Arabia, the UAE, Kuwait and Qatar on the November output cuts has been well over 90 per cent, the surge in US shale oil output has largely offset the Opec output cuts. This meteoric rise of hydraulic fracking technologies and electric vehicles/robotics has gutted the global influence of the Opec as the world oil market's supplier of the last resort (Opec) no longer controls the price of oil since the world's next swing producer is the Permian Basin in Texas and the Bakken in North Dakota, the new kingdoms of shale. Term premia in the long-dated forward West Texas futures markets and implied option volatility have both collapsed since last November's Opec output cut pact, prima facie evidence that the smart money expects far lower prices for crude oil in the next five years.

The US land oil rig count bottomed in June 2016 and has almost doubled in the past year. It is entirely possible that the US shale oil output could rise by 600,000-800,000 a barrel a year for the proximate future. Ominously for oil prices, the increase in the US rig count has begun to accelerate. In the last four months alone, the Baker Hughes land rig count has added 175 operating rigs. This means at least 500,000 of extra US shale oil is guaranteed to hit the oil market in the autumn and winter of 2017.

My analysis of West Texas long-dated futures strip curves, oil option implied volatility and risk reversal skews and wet-barrel premia tells me that even if Saudi Arabia and Russia "stabilise" oil prices after the Opec conclave in Vienna, we could easily see another oil price crash this autumn as US shale oil output floods a glutted market now.

While integrated oil supermajors such as Chevron, Total and Occidental Petroleum offer four to 5.3 per cent dividend yields, I am worried that their ambitions to dramatically increase their US shale oil acreage to preserve their dividend payouts and recoup their cost of capital means US output will surge whenever West Texas rise to $50. After all, this is exactly what happened since June 2016. No rally in the oil market is thus really sustainable since the 4,000-odd US and Canadian shale oil exploration and production companies are financed by Wall Street high-yield debt issuance and syndicated bank debt are forced to increase output even if global oil prices temporarily fall below their marginal cost of production. A paradigm shift has transformed the world oil market in the past decade. Yet make no mistake. The Age of Shale means long-term oil prices could well be as low as $20 a barrel as Texas, not Saudi Arabia or Russia, is the planet's new "swing producer" of black gold.

The writer is a global equities strategist and fund manager. He can be contacted at [e-mail]

[grupo guitarlumber] 27/5/2017 09:51

Aramco plans $18bn spend on US refining operations
HOUSTON, 3 hours, 43 minutes ago
Oil giant Saudi Aramco is set to spend $18 billion over the next five years to expand its operations in the Americas, focusing on its wholly-owned oil refining unit in the US - Motiva Enterprises.

The Aramco move comes following announcements at the Saudi-US CEO Forum earlier this week, confirming its growth journey to make its Motiva unit into the safest and most profitable downstream business in the US.

"As a wholly-owned affiliate of Saudi Aramco, Motiva is expected to be the primary focus of its growth strategy throughout the Americas and is exploring opportunities to increase refining capacity, branch into chemicals, and expand its commercial operations, marketing and branded presence over the next five years," remarked Dan Romasko, Motiva’s president and CEO.

Motiva became a wholly owned subsidiary of Saudi Aramco on May 1 with the split of the oil giant's 19-year partnership with Royal Dutch Shell Plc.

“With the joint venture separation behind us, there is a real sense of self-sufficiency at Motiva,” said Romasko.

“Our employees have embraced the changing culture, which has turned Motiva into a more agile organisation. We have given employees added responsibility, but at the same time empowered them to make decisions and be accountable for our results.”

The growth strategy follows a concerted effort to transform the performance of Motiva. Since 2014, Motiva has improved safety and reliability performance by nearly 50 per cent; captured significant value through improvements in refinery operations; and maximized the company’s end-to-end value delivery through its trading organization.
Additionally, the company expanded its headquarters in Houston, Texas and repatriated offshore back-office functions to a third-party service provider in Tulsa, Okla.

Motiva also recently completed an expansion of the Port Arthur Refinery’s largest hydrocracking unit and diesel hydrotreater, resulting in a 30 percent increase in capacity. An ongoing project with Northstar Terminals LLC to build a new marine terminal and related facilities at the Port of Port Arthur is expected to be complete in July 2017.

“Motiva has made significant strides over the last three years to reposition our business through focused improvement efforts and organic growth opportunities,”; said Romasko.

“Our next chapter will be even more exciting as we expand our reach into new areas of growth and development,” he added.

Headquartered in Houston, Texas, Motiva refines, distributes and markets petroleum products throughout the US. Motiva owns and operates North America’s largest refinery in Port Arthur, Texas with a crude capacity of more than 600,000 barrels a day.

The company also operates the country’s largest lubricant plant for both consumer and commercial use.-TradeArabia News Service

[grupo guitarlumber] 27/5/2017 08:56

looks as if its hit a stubborn resistence level

[waldron] 26/5/2017 16:52

Royal Dutch Shell Scrip Dividend Programme Reference Share Price
25/05/2017 7:45am
UK Regulatory (RNS & others)


TIDMRDSA TIDMRDSB

ROYAL DUTCH SHELL PLC FIRST QUARTER 2017 SCRIP DIVIDEND PROGRAMME REFERENCE
SHARE PRICE

The Board of Royal Dutch Shell plc ("RDS") today announced the Reference Share
Price in respect of the first quarter interim dividend of 2017, which was
announced on May 4, 2017 at $0.47 per A ordinary share ("A Share") and B
ordinary share ("B Share") and $0.94 per American Depository Share ("ADS").

Reference Share Price

The Reference Share price is used for calculating a Participating Shareholder's
entitlement under the Scrip Dividend Programme, as defined below.

Q1 2017

Reference Share price (US$) 27.526

The Reference Share Price is the US dollar equivalent of the average of the
closing price for the Company's A Shares listed on Euronext Amsterdam for the
five dealing days commencing on (and including) the date on which the Shares
are first quoted ex-dividend in respect of the relevant dividend.

The Reference Share Price is calculated by reference to the Euronext Amsterdam
closing price in euro. The US dollar equivalent of the closing price on each of
the dealing days referred to above is calculated using a market currency
exchange rate prevailing at the time.

Reference ADS Price

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

Q1 2017

Reference ADS price (US$) 55.052

The Reference ADS Price equals the Reference Share Price of the two A Shares
underlying each new A ADS.

Scrip Dividend Programme

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

Royal Dutch Shell plc

The Hague, May 25, 2017

[wad collector] 26/5/2017 09:34

2170 will see me trade some more out. Good to be trading RDS again.

[la forge] 26/5/2017 08:38

whoops no its not

its back below 2175

[la forge] 26/5/2017 08:12

waldron
23 May '17 - 16:34 - 683 of 686 3 0
NEEDS TO CONVINCINGLY BREAK THRU 2175 IMO

BEFORE HEADING TOWARDS 2275

FAILING THAT

A MOVE BACK TO 2075 SHELL B TESTED


looks like its edging towards 2275

have a great day and long weekend

[the grumpy old men] 24/5/2017 19:33

EIA Reports Massive Oil Supply Draw Ahead of OPEC Meeting
Tom Terrarosa Tom Terrarosa
Follow May 24, 2017 12:33 PM EDT

U.S. crude oil inventories decreased by 4.4 million barrels during the week ended May 19, the Energy Information Administration reported.

EIA's report represents the seventh consecutive weekly drop in American crude supply and beat analysts' expectations of a 2 million barrel draw.

The news also comes one day ahead of a Vienna meeting of the Organization of the Petroleum Exporting Countries in which the so-called oil cartel will discuss extending its 1.2 million barrel per day production cut beyond the first half of 2017.

A nine-month extension looks likely, Stifel Financial analysts wrote in a research note Wednesday. Stifel's conclusion comes after a quote surfaced from Algerian Energy Minister Noureddine Boutarfa. According to the analysts, the energy minister reportedly said OPEC at the moment has a nine-month agreement in place, "but tomorrow perhaps we'll have another deal."

Stifel analysts suggested the minister's tone was relatively optimistic and could signal an even better deal is on tomorrow's agenda, perhaps even one including deeper production cuts.

SMALL INVESTMENT, BIG POTENTIAL. TheStreet's Stocks Under $10 has identified a handful of stocks with serious upside potential. See them FREE for 14-days.

While the OPEC commentary and the broad U.S. inventory cut are bullish long-term signals for oil, the report resulted in a sudden dive in both West Texas Intermediate crude and global benchmark Brent crude futures.

Before the 10:30 a.m. EIA report, oil was in the green early Wednesday after the American Petroleum Institute reported a 1.5 million-barrel draw Tuesday evening.

Another bullish sign for crude is that demand grew 6.7% week over week to roughly 20.8 million barrels per day, according to KLR Group analysts.

Still, the dollar was rallying Wednesday, a move that typically suppresses oil prices as a high dollar makes the commodity more expensive for international buyers. Another bearish commentary Wednesday likely helped to hold off an extended rally, as well.

The CEO of Nigerian oil and gas producer Oando reportedly said the worst disruptions in Nigeria's oil-producing Delta region are over and production could reach 2.2 million barrels per day the end of June.

President Donald Trump also issued details this week on a plan to sell up to half of the U.S. Strategic Petroleum Reserve, a move that could force excess crude supply into the market and dampen prices substantially.

[grupo guitarlumber] 24/5/2017 08:11

Dividend Stream
Long only, long-term horizon, growth at reasonable price, dividend investing
Premium
Dividend Stream
Summary

Shell generated solid cash flow, ample enough to cover the capex and dividend this quarter.

Synergies and cost removal are making Shell (and other supermajors) more profitable even down here.

Shell will complete two more floating production platforms in Brazil.

Back on February 6th I recommended investors 'steer clear' of Royal Dutch Shell (NYSE:RDS.A). While I was confident that the dividend would be alright in 2017, I felt that Shell would have to rely on asset sales, to some degree, to keep that dividend afloat. My issue with Shell was more of a philosophical one: I preferred companies such as Exxon Mobil (NYSE:XOM) and BP (NYSE:BP).

But I must say that Shell's latest quarter was a very good one, and it appears that Shell is making a trend of covering its dividend and capital expenditure from cash flow alone, thanks to several factors. Shell had a strong quarter, and its excellent cash flow performance has allowed the company to use its asset divestitures to go straight to debt reduction; another good thing.

This article takes another look at Shell based on this quarter we've seen, and on what we can expect for the rest of this year.

Turning the corner

From a cash flow perspective I am rather pleased by how Shell has performed this quarter. This quarter Shell generated $5.2 billion in free cash flow, which easily paid the $2.6 billion dividend. Operating cash flow increased another $330 million quarter-over-quarter, and capital expenditure dropped a whole $1.4 billion. That gave the dividend a lot more breathing room.

To give a perspective on how far Shell has come, over the second quarter of last year Shell generated just $2.3 billion in OCF, a little more than half of what it generates today. What is the difference? Well, a large part is the modest rise in crude prices, but projects coming complete in Brazil as well as both operating and capital cost reduction have combined to put Shell on much firmer footing today. Let's take a look at some of those factors.

Shell's most significant area of investment right now is deepwater offshore Brazil. In 2016 Shell completed 3 Floating Production Storage Offload ship projects in the Pre-Salt Basin. Shell currently has nine FPSO ships operating in Brazil, and will bring on two more before the year is out. This will contribute to cash flow and the completion of such will give a lot more slack with capex needs.

Courtesy of Royal Dutch Shell Investor Relations.

Staying with the topic of Brazil, allow me to illustrate one example of declining capital cost structure as well. As you can see, management has succeeded in steadily reducing the number of days it takes to complete a well in offshore Brazil, and the ramp up in first oil to production plateau has also steadily declined. This is just one example of costs coming out of the capex structure, a common theme for most of the supermajor oil companies.

Also, operating costs are coming down and synergies from the BG acquisition are kicking in. For example, total cost and capital synergies were $2.5 billion in 2015, but are expected to be $4 billion this year. This is making a significant difference. To give an idea of overall operating costs, they've gone from $46 billion in 2015 to $40 billion in 2016. While that figure does include the impact of divestitures, it also includes a good deal of costs saving. The improvement of operating and drilling costs is something the supermajors have done quite well, particularly in offshore drilling, and it is a feat often overshadowed by similar efforts in the shale, but the former should not be overlooked by any means.

Steady as she goes

Shell has turned a corner, I believe. In coming quarters I suspect that Shell will have to raise its capital expenditure to around $6 billion-to-$6.5 billion or so to make its forecast for 2017 spending. So, while cash flow was very strong this quarter, I suspect it will be tighter in future quarters. Even still I expect Shell to more-or-less pay its dividend from free cash flow, especially if Brent stays in the low $50s, which it seems to want to do.

I'm not a big fan of divestitures at this point in the crude oil price cycle, but I understand the rationale for doing so after that major BG Group acquisition. Shell is selling off half of its oil sands assets in Canada, for what they expect to be a total of $7.25 billion, $3 billion worth of North Sea assets, and also some of its downstream North America joint venture which will go to Saudi Aramco. The proceeds of all these should go to debt reduction.

At this point, if you want to buy some shares I think you can go ahead and do so. That 6.8% yield is secure and sustainable from cash flow only. I continue to prefer other names, but for less fundamental reasons: I like BP's asset base better (particularly in the Gulf and North Sea), and I like Exxon's impeccable record of execution, but I can definitely see why someone would like Shell at this time. After all, Shell sports a much higher yield that what Exxon offers, and unlike BP, Shell does not have any multi-billion dollar payout from the Deepwater Horizon spill. Barring a sharp drop in crude oil prices, Shell deserves an "all clear" at this time.

[waldron] 23/5/2017 16:34

NEEDS TO CONVINCINGLY BREAK THRU 2175 IMO

BEFORE HEADING TOWARDS 2275

FAILING THAT

A MOVE BACK TO 2075 SHELL B TESTED

[wad collector] 23/5/2017 12:42

Those "notes" are just algorithm generated statements rather than a human viewpoint. The grammar is good but they are created without any thought or opinion. Not to say that AI will not outpoint brokers soon, but you could fill the BBs with them. Barclays only dropped their target price by 50p so pretty meaningless.

[grupo guitarlumber] 23/5/2017 11:03

Royal Dutch Shell Plc 29.9% Potential Upside Indicated by Barclays Capital

Posted by: Amilia Stone 23rd May 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 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 2750 GBX on its stock. This indicates the analyst now believes there is a potential upside of 29.9% from today’s opening price of 2116.5 GBX. Over the last 30 and 90 trading days the company share price has increased 83.5 points and increased 15 points respectively. The 1 year high for the stock price is 2295.5 GBX while the 52 week low for the share price is 1645 GBX.

Royal Dutch Shell Plc has a 50 day moving average of 2,110.06 GBX and a 200 day moving average of 2,087.03. There are currently 9,635,809,434 shares in issue with the average daily volume traded being 5,059,772. Market capitalisation for LON:RDSA is £203,893,727,623 GBP.

[grupo guitarlumber] 23/5/2017 10:58

US President Donald Trump's budget plan envisages selling America’s strategic crude reserves and opening the Alaska National Wildlife Refuge to drilling in an attempt to rebalance the budget and boost economic growth.
Read more
© Rick Wilking Trump to reverse Obama’s Arctic & Atlantic drilling ban

The US Strategic Petroleum Reserve is the world's largest and has about 688 million barrels of crude. The oil is heavily guarded in underground facilities in Louisiana and Texas.

The reserve was started in 1975 after oil supplies were interrupted during the 1973–1974 embargo by Saudi Arabia and other OPEC countries, to mitigate future temporary supply disruptions.

According to Trump’s budget plan, the reserve will start to be sold from October 2018, which would generate $500 million, according to the documents. The sales would rise to $3.9 billion in 2027, totaling about $16.6 billion from 2018 to 2027.

At the same time, the US would boost its oil production, as Trump plans to raise $1.8 billion in the next ten years by drilling more in Alaska, the largest protected wilderness in the country, which is said to have vast oil reserves.

US crude production has surged about 10 percent since mid-2016 to 9.3 million barrels per day due to increased shale production. However, politicians in the country have since the 1970s argued whether to open drilling in northeastern Alaska. Opponents say spills could hurt the environment.

The proposed changes in the budget are intended to return US economic growth to three percent.

"It drives our tax reform policy, our regulatory policy, trade, energy... everything is keyed toward getting us back to 3 percent," said Mick Mulvaney, the director of the Office of Management and Budget.

The White House budget will be delivered to Congress on Tuesday and could see changes.

[the grumpy old men] 18/5/2017 15:10

By Ron Bousso | LONDON

Royal Dutch Shell (RDSa.L) is seeking to sell its gas fields in Tunisia for some $500 million (£383.8 million), sources said, as the Anglo-Dutch company pushes forward with its vast disposal programme.

The Tunisian assets, accounting for some 65 percent of the North African country's gas production, were acquired as part of Shell's $54 billion take over of BG Group last year.
PUBLICITÉ

The assets include two offshore gas fields -- Miskar, fully owned by Shell and Hasdrubal, 50 percent owned by Shell -- as well as an onshore production facility.

In 2015, the fields produced 30,000 barrels of oil equivalent per day, according to BG Group's annual report of the same year.

According to two industry sources and another banking source, Shell is seeking to raise around $500 million from the sale.

A Shell spokeswoman declined to comment.

Shell has sold or agreed to sell more than $20 billion in assets over the past year as part of a $30 billion divestment programme aimed at reducing debt following the BG acquisition.

(Reporting by Ron Bousso, editing by David Evans)

[pugugly] 18/5/2017 06:02

waldron: Thanks - I thought there was something wrong with the IC paperwork - Should have been *- subject to exchange rate as at June 12th - as you advise above.

[m_k_hubbert] 17/5/2017 22:51

Imperial, I use the dividend re-investment scheme provided by HL which accumulates dividends in my Income Account and uses the resulting funds to buy more shares on or about the 11th of each month. For RDSB it means more shares are purchased on Jan 11, April 11 etc. Charges are 1% of the consideration, minimum £1, maximum £10. This scheme re-invests proceeds from latest dividend into exactly the same class of shares which provided the dividend thus, as a 'B' shares holder more 'B' shares are purchased and the problem of receiving 'A' shares with associated Dutch Witholding Tax issue is thus avoided.

In the event that I don't want to re-invest all or part of a recent dividend, for example if share price is too high or I need the funds for other purposes all I have to do is transfer all or part of the relevant dividend payment from my Income Account to my Investment Account before 11th of the month.

[waldron] 17/5/2017 22:01

Pounds sterling and euro equivalents announcement date June 12, 2017
Payment date June 26, 2017

[pugugly] 17/5/2017 21:57

IC advising RDSB dividend of 36.43p per share - Not sure what date they used for the exchange rate - I thought it was the exchange rate when paid not the rate when declared - Can anyone advise ?

However as a marker if down by less that say 36p tomorrow then good - if more then bad (imo)