Fourth quarter 2018 results
|
|
- Marjorie Edwards
- 5 years ago
- Views:
Transcription
1 Fourth quarter 2018 results Delivering a world-class investment case Royal Dutch Shell plc January 31, 2019 #makethefuture
2 Ben van Beurden Chief Executive Officer Royal Dutch Shell
3 Definitions & cautionary note Gearing is defined as net debt as a percentage of total capital. With effect from 2018, the net debt calculation includes the fair value of derivative financial instruments used to hedge foreign exchange and interest rate risks relating to debt, and associated collateral balances. Free Cash Flow is defined as the sum of Cash flow from operating activities and Cash flow from investing activities. Cash flow from operating activities excluding working capital movements is defined as Cash flow from operating activities less the sum of the following items in the Consolidated Statement of Cash Flows: (i) (increase)/decrease in inventories, (ii) (increase)/decrease in current receivables, and (iii) increase/(decrease) in current payables. Organic free cash flow is defined as free cash flow excluding inorganic capital investment (acquisitions) and divestment proceeds. ROACE (Return on Average Capital Employed) is defined as the sum of current cost of supplies (CCS) earnings attributable to shareholders excluding identified items for the current and previous three quarters, as a percentage of the average capital employed for the same period. Capital employed consists of total equity, current debt and noncurrent debt. Capital investment comprises capital expenditure, exploration expense excluding well write-offs, new investments in joint ventures and associates, new finance leases and investments in Integrated Gas, Upstream and Downstream equity securities, all of which on an accruals basis. Divestments comprises proceeds from sale of property, plant and equipment and businesses, joint ventures and associates, and other Integrated Gas, Upstream and Downstream investments, reported in Cash flow from investing activities (CFFI), adjusted onto an accruals basis and for any share consideration received or contingent consideration recognised upon divestment, as well as proceeds from the sale of interests in entities while retaining control (for example, proceeds from sale of interest in Shell Midstream Partners, L.P.). Headline divestments is a non-gaap metric. Divestment cash proceeds in were equal to $26.7 billion (in Cash flow from investing activities) and $2.1 billion ( Change in non-controlling interest in Cash flow from financing activities, primarily related to Shell Midstream Partners, L.P.). Additionally certain contingent payments associated with these divestments are expected to be received in the future. This presentation contains the following forward-looking Non-GAAP measures: Organic Free Cash Flow, Free Cash Flow, Capital Investment, CCS Earnings less identified items, Operating Expenses, ROACE, Capital Employed and Divestments. We are unable to provide a reconciliation of the above forward-looking Non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile the above Non-GAAP measure to the most comparable GAAP financial measure is dependent on future events some which are outside the control of the company, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Royal Dutch Shell plc s financial statements. As the projects are expected to be multidecade producing the per barrel projection will not be reflected either in earnings or cash flow in the next five years. Reserves: Our use of the term reserves in this presentation means SEC proved oil and gas reserves. Resources: Our use of the term resources in this presentation includes quantities of oil and gas not yet classified as SEC proved oil and gas reserves. Resources are consistent with the Society of Petroleum Engineers (SPE) 2P + 2C definitions. The forward-looking break-even price (BEP) presented is calculated based on all forward-looking costs associated from Final Investment Decision (FID). Accordingly, this typically excludes exploration and appraisal costs, lease bonuses, exploration seismic and exploration team overhead costs. The forward-looking BEP is calculated based on our estimate of resources volumes that are currently classified as 2p and 2c under the Society of Petroleum Engineers Resource Classification System. The financial measures provided by strategic themes represent a notional allocation of ROACE, capital employed, capital investment, free cash flow, organic free cash flow and underlying operating expenses of Shell s strategic themes. Shell s segment reporting under IFRS 8 remains Integrated Gas, Upstream, Downstream and Corporate. All outlook on financial metrics and/or alternative performance measures excludes the effect of IFRS 16 implementation. Also, in this presentation we may refer to Shell s net carbon footprint, which includes Shell s carbon emissions from the production of our energy products, our suppliers carbon emissions in supplying energy for that production and our customers carbon emissions associated with their use of the energy products we sell. Shell only controls its own emissions but, to support society in achieving the Paris Agreement goals, we aim to help and influence such suppliers and consumers to likewise lower their emissions. The use of the terminology Shell s net carbon footprint is for convenience only and not intended to suggest these emissions are those of Shell or its subsidiaries. The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this presentation Shell, Shell group and Royal Dutch Shell are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words we, us and our are also used to refer to Royal Dutch Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. Subsidiaries, Shell subsidiaries and Shell companies as used in this presentation refer to entities over which Royal Dutch Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as joint ventures and joint operations, respectively. Entities over which Shell has significant influence but neither control nor joint control are referred to as associates. The term Shell interest is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all thirdparty interest. This presentation contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as aim, ambition, anticipate, believe, could, estimate, expect, goals, intend, may, objectives, outlook, plan, probably, project, risks, schedule, seek, should, target, will and similar terms and phrases. There are a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this presentation, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; and (m) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this presentation are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Royal Dutch Shell s Form 20-F for the year ended December 31, 2017 (available at and These risk factors also expressly qualify all forward-looking statements contained in this presentation and should be considered by the reader. Each forward-looking statement speaks only as of the date of this presentation, January 31, Neither Royal Dutch Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this presentation. We may have used certain terms, such as resources, in this presentation that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No , available on the SEC website 3
4 Summary Key messages Thrive in the energy transition Delivering strong cash flow Free cash flow of $16.7 billion in Q4, and $39.4 billion in 2018 Cash flow from operations excluding working capital of $12.9 billion in Q4 and $49.6 billion in 2018 Strengthening the financial framework World-class investment case $25 billion share buyback programme: $4.5 billion purchased so far Gearing further reduced to 20.3% Fully covered dividend, interest, and share buybacks in 2018 Reshaping the portfolio Strong license to operate $30 billion divestment programme completed New projects delivering >$10 billion in cash flow from operations Leading through the energy transition Short-term targets to reduce Net Carbon Footprint Methane emissions intensity targets Divestments: headline. Share buybacks: completed by January 28, CFFO from new projects: estimated 2018 contribution of key projects started up , with pricing assumption of $60 per barrel real terms 2016, mid-cycle Downstream. 4
5 2018 Financial Summary Earnings ($ billion); EPS +34% vs Cash flow from operations excluding working capital ($ billion) Free cash flow ($ billion) ROACE (%) 20.3 Gearing (%) Earnings and ROACE on CCS basis, excluding identified items 5
6 2018 HSSE performance Goal Zero on safety Injuries TRCF (per million working hours) Operational spills million working hours Thousand tonnes # TRCF Working hours (RHS) Volume of spills Number of spills (RHS) Upstream flaring Million tonnes CO 2 e Process safety Number of incidents HSSE priority Performance and transparency Tier 1 incidents Tier 2 incidents 6
7 2018 Leading through the energy transition Highlights Net Carbon Footprint long-term ambition operationalised with short-term targets; linked to executive remuneration Methane maintain emissions intensity below 0.2% by 2025 Task force on Climate-related Financial Disclosures (TCFD) driving effective climate change disclosures as a member of Oil & Gas Preparer Forum Proof points Nigeria Decrease in flaring intensity by ~70% over the last 10 years Brent Delta platform (UK) Decommissioning >97% to be recycled Thought leadership Shell Energy Transition Innovating to meet changing society and customer preferences report and Sky Scenario publication Quest CCS (Canada) >3.5 million tonnes CO 2 captured and stored Solar Investments in Asia and North America Changes to executive remuneration subject to shareholder approval. Methane emissions intensity is for Shell operated oil and gas assets. 7
8 Divestment programme $30 billion completed Oil Sands $7.3bln MLP $1.8bln Upstream Ireland up to $1.3bln UK North Sea package up to $3.8bln Thailand Bongkot $0.8bln Showa Shell JV $1.4bln Top 20 transactions: Oil Sands Deep water MOTIVA JV $2.2bln Integrated Gas Conventional Oil & Gas Shales Chemicals Downstream Argentina $1.0bln Gabon onshore $0.9bln SADAF JV $0.8bln Woodside shares $2.6bln Oil Products MLP Reshape, simplify and high-grade the portfolio Attractive valuations Portfolio simplification More than 50 transactions in 25 countries Business country exits in Argentina, Ireland, Gabon, Thailand, Japan and New Zealand Continue divestments of at least $5 billion average per annum in Supporting the financial framework Net debt reduction Net liabilities (e.g. D&R) reduction Credit rating upgrades Divestments: headline as per announcement. 8
9 Delivery Key projects start-ups Key projects Deep water Brazil (8 FPSOs) Gulf of Mexico (Cardamom, Mars, Stones, Kaikias) Malikai Gumusut Kakap Ph1 Lula North (P-67) Appomattox Start-up Q Q Cash contribution from key projects: de-risked $ billion +$5 billion Integrated Gas QCLNG Gorgon Prelude >$10 billion CFFO delivered in 2018 Additional projects with >150kboe/d of peak production capacity to start up in 2019 Conventional Oil & Gas Shales Chemicals Oil Products Kashagan Schiehallion redevelopment Clair Ph2 Permian Nanhai China Chemicals Geismar AO4 Pernis SDA Scotford Projects started up Projects under construction Pricing assumption 2019E-2020E and 2018 estimate: $60 per barrel real terms 2016, mid-cycle Downstream. Brazil accumulations are subject to unitisation agreements. 9
10 Portfolio & projects Projects delivery 2018 Geismar alpha olefins start-up Prelude start-up Fourth alpha olefins unit, with 425,000 metric tonnes per annum additional capacity, Shell interest 100% Largest alpha olefins site globally Integrated US Gulf coast position with ethylene crackers at Deer Park and Norco Floating LNG facility offshore Australia, with capacity to produce 3.6 million tonnes LNG per annum and 1.7 million tonnes natural gas liquids per annum, Shell interest 68% First gas in wells and production of condensate Preparations for first LNG cargo underway 10
11 Portfolio & projects Projects delivery Appomattox installation and commissioning Permian continued growth Gulf of Mexico hub development producing from the Appomattox and Vicksburg fields Peak production capacity of 175 thousand barrels of oil equivalent per day, Shell interest 79% 40% cost reduction since FID Offshore installation and commissioning underway ~260,000 net acres in the Delaware basin, Shell interest ~57% Shell share of production 145 thousand barrels of oil equivalent per day Strong delivery to date and continued growth Free cash flow growth well into the next decade 11
12 Portfolio & projects Projects delivery Gulf of Mexico Whale development United States Pennsylvania petrochemicals Gulf of Mexico deep-water discovery, Shell interest 60% Assessing exploration and appraisal results Progressing development options and targeting potential FID in 2020 Standardisation and replication enabling cycle time reduction Pennsylvania petrochemicals complex with production capacity of 1.6 million tonnes of polyethylene per annum, Shell interest 100%, Commercial production early next decade Supporting growth in Shell s global Chemicals business, which sells ~18 million tonnes of products per annum 12
13 World-class investment case Strategic themes delivery: on track Strategic themes 2017 ~$54 Organic free cash flow $ billion 2018 ~$71 Organic free cash flow $ billion ~$60RT Organic free cash flow $ billion p.a. Integrated Gas Deep water Conventional Oil & Gas Oil Products Cash engines Shales (1.1) (0.6) 1-2 Chemicals Growth priorities (0.0) (0.2) 1-2 New Energies (0.2) (0.5) (2) - (1) Emerging opportunities (0.2) (0.5) (2) - (1) Price sensitivity: +/- $10 Brent = +/- ~$6 billion CFFO Organic free cash flow (incl. Corporate & Other) Divestments & acquisitions >5 Free cash flow (incl. Corporate & Other) : 2016 RT $60 per barrel, mid-cycle Downstream. Deep water and Shales categorised as per the outlook. 13
14 World-class investment case Delivering on commitments Delivery in Financial Framework Delivery Cancel scrip dividend Start $25 billion buyback programme: $4.5 billion completed Disciplined & efficient capital allocation: $25 billion capital investment Portfolio & projects delivery Deliver $30 billion divestment programme Realise $10 billion CFFO from new projects in 2018 Reduce underlying operating expenses: $39 billion in 2018 Continued delivery in Financial Framework Delivery $25-30 billion organic free cash flow per year by 2020 Complete $25 billion buyback programme Capital investment of $25-30 billion per annum Portfolio & projects delivery >$5 billion divestments per annum Another $5 billion CFFO from new projects by end 2020 Divestments: headline organic free cash flow outlook at $60 per barrel real terms 2016, mid-cycle Downstream. Share buybacks: subject to further progress with debt reduction and oil price conditions. CFFO from new projects in 2018 and 2020 compared with 2014, at $60 per barrel real terms 2016, mid-cycle Downstream. 14
15 Jessica Uhl Chief Financial Officer Royal Dutch Shell
16 Q Financial highlights: summary Cash generation Cash flow from operations excl. working capital $12.9 billion Good cash conversion of strong underlying earnings Seasonally higher cost and tax Positive contribution from margining, driven by falling Brent oil price Free cash flow $16.7 billion Of which $14.3 billion organic free cash flow Significant working capital release Returns ROACE 7.6 % $5.7 billion earnings Continued improvement Disciplined cash allocation Net debt reduction Capital investment $9.1 billion 20.3% gearing $8.0 billion 2018 capital investment of $25 billion at lower end of indicated range Q average Brent price: $69/bbl Share buybacks $2.5 billion Second tranche completed January 28, 2019 Next tranche of up to $2.5 billion announced Intention to purchase $25 billion by the end of 2020 Earnings and ROACE on CCS basis, excluding identified items. Dividend distributed to RDS shareholders. Share buybacks: repurchases completed in Q4 2018, tranches announced do not align with quarters. Share buybacks subject to further progress with debt reduction and oil price conditions. 16
17 Q3 Q Other Portfolio portfolio developments highlights Project delivery Clair phase 2 up to 120 thousand barrels of oil per day production, Shell interest 28% Geismar Chemicals start-up of fourth Alpha Olefins unit, Shell interest 100% Prelude FLNG first gas in wells and condensate production, Shell interest 68% Portfolio Divestments Argentina Shales progressed 3 Vaca Muerta blocks into development, up to 70 thousand barrels of oil equivalent per day, Shell interest 80-90% Nigeria Assa North FID on gas development project targeting 300 million standard cubic feet of gas per day, Shell interest 30% US Offshore Wind acquisition of 310,000 acres off the coast of Massachussets and New Jersey with potential to generate 4.1 Gigawatts, Shell interest 50% Ireland Upstream completed sale of Corrib for $1.3 billion consideration Norway completed sale of Draugen and Gjøa for $0.5 billion consideration New Zealand completed country exit for $0.6 billion consideration 17
18 Q Financial highlights: earnings $ billion Q Q Integrated Gas Upstream Downstream (CCS) Earnings Q to Q $ billion Corporate & non-controlling interest (0.4) (0.7) CCS earnings CCS earnings, $ per share ROACE (%) Earnings and ROACE on CCS basis, excluding identified items. 18
19 Q Financial highlights: cash flow $ billion Q Q Integrated Gas Upstream Downstream Corporate CFFO excl. working capital Q to Q $ billion Cash flow from operations Cash flow from operations excl. working capital Cash flow from investing activities (0.7) (5.3) Free cash flow Dividend (2.3) (3.9) Interest paid (0.8) (0.9) Share buybacks - (2.5) Dividend distributed to RDS shareholders. 19
20 2018 Gulf of Mexico: Strong cash flow growth Growing production of high cash margin barrels Operational excellence Improving asset availability Reduction in unit operating costs Fill the hub strategy Maximising existing production through well reservoir facility management Subsea tiebacks Optimised waterflood performance Project delivery Coulomb phase 2 on-stream Accelerated delivery of Kaikias Cycle time improvement for new wells Gulf of Mexico production growth Thousand boe per day +50% Map shows Shell operated assets. 20
21 2018 Financial highlights: improving year on year Earnings & ROACE $ billion Cash flow Gearing % $ billion $ billion % Upstream Integrated Gas ROACE (RHS) Downstream Corporate + NCI CFFO CFFI FCF Net debt (at year end) Gearing (RHS) $21.4 billion earnings $39 billion free cash flow $26 billion of net debt reduction ROACE increased to 7.6% $31 billion organic free cash flow since end average Brent price: $71/bbl On track to deliver 10% ROACE More than $30 billion divestments completed since 2016 On track to deliver Gearing reduced from 23.1% to 20.3% in Q Improved credit rating outlook Earnings and ROACE on CCS basis, excluding identified items. Pricing assumption 2020: $60 per barrel real terms 2016, mid-cycle Downstream. Divestments: headline. 21
22 Preliminary results SEC proved reserves position 2018 Reserves performance 2018 RRR 53% 2018 RRR (excl. A&D) 66% 2018 RRR (excl. Groningen) 98% 3-year average RRR 96% Reserves/Production at end 2018 ~8.3 years Reserves performance Billion boe billion boe Production SEC proved reserves Reserves/ Production (years) ~9.5 ~8.8 ~8.3 RRR 208% 27% 53% 2016 and 3-year average RRR includes BG acquisition. 22
23 Financial framework Cash allocation Surplus CFFO Buybacks Intention to purchase $25 billion by the end of 2020 Subject to further progress with debt reduction and oil price conditions Capital investment $25-30 billion per annum, organic & inorganic 2018: $25 billion 2019: within the $25-30 billion range CFFO Dividend $15.7 billion in 2018 Interest $3.6 billion in 2018 Divestment proceeds Net debt reduction to 20% gearing 20.3% as of Q Dividend distributed to RDS shareholders. 20% gearing as a proxy for AA equivalent credit metrics. 23
24 Financial framework Free cash flow performance and payout Distributions from free cash flow $ billion $99/bbl $54/bbl $71/bbl $60/bbl Available for share buybacks and debt reduction : ample capacity for debt reduction and share buybacks average Divestment proceeds less acquisitions Scrip dividend Interest paid Organic free cash flow Cash dividend Share buybacks outlook: 2016 RT $60 per barrel, mid-cycle Downstream. Dividend distributed to RDS shareholders cash dividend includes scrip issuance of $2.4 billion offset by share buybacks share buybacks of $3.3 billion presented net of $2.4 billion offsetting scrip issuance. 24
25 Competitive performance World-class investment case ROACE % Free cash flow 4 quarters rolling $ billion Thrive in the energy transition World-class investment case Gearing % Total shareholder return % Since Jan 2016 Since Jan 2017 Since Jan 2018 Strong license to operate Shell Peer group Shell Peer group Competitive financial data as published. ROACE: European companies: CCS basis excluding identified items, US companies: reported earnings excluding special non-operating items; Capital employed on gross debt basis. Free cash flow: cash flow from operations less cash used in investing activities, corrected for interest paid for RDS. Gearing: gross debt less cash and cash equivalents as a percentage of total capital. TSR: in USD, 90-day averages until January 25,
26 Ben van Beurden Chief Executive Officer Royal Dutch Shell
27 Summary Key messages Thrive in the energy transition Delivering strong cash flow Free cash flow of $16.7 billion in Q4, and $39.4 billion in 2018 Cash flow from operations excluding working capital of $12.9 billion in Q4 and $49.6 billion in 2018 Strengthening the financial framework World-class investment case $25 billion share buyback programme: $4.5 billion purchased so far Gearing further reduced to 20.3% Fully covered dividend, interest, and share buybacks in 2018 Reshaping the portfolio Strong license to operate $30 billion divestment programme completed New projects delivering >$10 billion in cash flow from operations Leading through the energy transition Short-term targets to reduce Net Carbon Footprint Methane emissions intensity targets Divestments: headline. Share buybacks: completed by January 28, CFFO from new projects: estimated 2018 contribution of key projects started up , with pricing assumption of $60 per barrel real terms 2016, mid-cycle Downstream. 27
28 Questions & Answers Ben van Beurden Chief Executive Officer Jessica Uhl Chief Financial Officer Maarten Wetselaar Integrated Gas and New Energies Director 28
29
30 Outlook Q Outlook Q Q OUTLOOK: Year-ago baseline reflects Shell s earnings seasonality Integrated gas Production volumes: thousand boe/d lower, mainly due to divestments, the transfer of some activities into the Upstream segment as of 2019 and higher maintenance activities LNG liquefaction volumes: million tonnes lower, mainly as a result of divestments and higher maintenance activities Upstream Production volumes: thousand boe/d lower, mainly due to divestments and field decline, partly offset by ramp-ups of existing fields. This includes the impact of additional activities reported in the Integrated Gas segment in 2018 Downstream Refinery availability to decrease, as a result of higher maintenance activity Chemicals availability expected to be at a similar level Oil products sales volumes: thousand boe/d lower, mainly as a result of the divestment of the Downstream business in Argentina 2019 OUTLOOK: Corporate segment: net charge of $ million in Q1, and $ billion for the full year 2019, excluding the impact of currency exchange rate effects and the impact of IFRS 16 Leases IFRS 16: updates will be communicated during a webcast on March 28, The quantitative impact at transition date (January 1, 2019) will be disclosed in the 2018 Annual Report and Form 20-F As of 2019, Salym (Russia) is reported within the Upstream segment production: 62 kboe/d Shell share (97% liquids); 2018 net income: $0.1 billion. 30
31 Outlook Impact of IFRS16 Leases Gearing ~4%-5% increase Operating lease liabilities on balance sheet Increase in net debt and gearing Free cash flow ~$4 billion increase Lease payments will be reported under CFFF, instead of under CFFO and CFFI as previously Capital investment ~$1-2 billion increase Capital investment will include all leases, instead of only finance leases Operating expenses ~$2-3 billion decrease Costs of operating leases will be reported as depreciation and interest expense Segment earnings ~$1 billion impact Lease interest expenses will be treated as financing expenses and will be reported in Corporate, with corresponding offsets in business segments Key metrics change, no business and value impact Unaudited and provisional. All figures quoted on a full-year basis. For 2019, we will provide estimates for key indicators on a pre-ifrs16 basis for comparability with actuals. 31
32 Q Financial highlights: cash flow $ billion Q Q Integrated Gas Upstream Downstream Corporate CFFO excl. working capital Q to Q $ billion Cash flow from operations Cash flow from operations excl. working capital Cash flow from investing activities (4.1) (5.3) Free cash flow Dividend (3.9) (3.9) Interest paid (0.9) (0.9) Share buybacks (1.4) (2.5) Dividend distributed to RDS shareholders. 32
33 2018 Working capital & IG Brent hedging Working capital $ billion $/bbl Integrated Gas Brent hedging cash impact $ billion $/bbl Movement in working capital IG Brent hedging cash impact Average Brent price for the quarter (RHS) Brent price at the end of the quarter (RHS) Cumulative movement in working capital IG Brent hedging cash impact (cumulative) Working capital movements consistent with Brent oil price movements Q movement of $9.1 billion: inventory price effect of $5.3 billion, inventory volume effect of $2.4 billion (reduction of ~40 million boe), lower AP/AR of $1.4 billion Full year 2018 movement of $3.4 billion: inventory price effect of $1.9 billion, inventory volume effect of $0.9 billion, lower AP/AR of $0.6 billion Hedging programme based on Brent and Henry Hub to manage cross commodity exposure tool for managing and optimising the portfolio for value Volume and exposures vary over time Material volatility in Brent forward curve since Q resulting in swings in margining requirements The cash impact is timing only 33
34 Outlook Organic free cash flow Organic free cash flow 2018 to outlook $ billion ~31 > On track to deliver outlook of $25-30 billion organic free cash flow (4) ~23 Normalised organic free cash flow excludes effects of margining and working capital movements New projects provide free cash flow growth Organic free cash flow Working capital movement and IG margining outlook at $60 per barrel real terms 2016, mid-cycle Downstream. Organic free cash flow normalised to stable $60 per barrel real terms 2016 oil price environment in 2020, assuming no working capital or margining movements. Price effect between current Brent price and outlook is indicative, calculated using rule-of-thumb. 34
35 Digitalisation in Shell Operational Effectiveness Customer Experience Asset Management Shearwater UK Shell Cashless App QGC Australia Aim to be a leading player, enabling value uplift over the coming years AI & machine learning powering Residential & commercial customer Asset safeguarding & leak detection decision making convenience Automated materials, people and Strategic partnerships for cloudbased solutions and infrastructure and smart charging Reduced people exposure Applications for energy management equipment management Improved energy consumption in Flexible, pay as you go energy Drones have capability to cover up to operations service 7,000 square kilometers in a single Machine learning prevented loss of 1 million Shell app users; first mission production at Shearwater; approach cashless payment system being replicated across other assets 35
36 Q Prices & margins Shell oil & gas realisations $/barrel $/mscf Industry refining margins $/barrel Industry chemicals margins $/tonne Oil Gas (RHS) US West Coast US Gulf Coast coking Rotterdam complex Singapore US ethane Western Europe naphtha NE/SE Asia naphtha 36
37 Q Upstream results Earnings Q to Q $ billion Environment Choice Earnings on CCS basis, excluding identified items 37
38 Q Integrated Gas results Earnings Q to Q $ billion Environment Choice Earnings on CCS basis, excluding identified items 38
39 Q Downstream results Earnings Q to Q $ billion Earnings mix $ billion Earnings on CCS basis, excluding identified items Marketing Refining & Trading Chemicals 39
40
Second quarter 2018 results
Second quarter 2018 results Delivering a world-class investment case Royal Dutch Shell plc July 26, 2018 #makethefuture Royal Dutch Shell July 26, 2018 Ben van Beurden Chief Executive Officer Royal Dutch
More informationThird quarter 2017 results
Third quarter 2017 results Re-shaping Shell, to create a world-class investment case Royal Dutch Shell plc November 2, 2017 #makethefuture Royal Dutch Shell November 2, 2017 Jessica Uhl Chief Financial
More informationFourth quarter 2017 results
Fourth quarter 217 results Delivering a world-class investment case Royal Dutch Shell plc February 1, 218 #makethefuture Royal Dutch Shell February 1, 218 Ben van Beurden Chief Executive Officer Royal
More informationBALANCING GROWTH & RETURNS SECOND QUARTER 2014 RESULTS 31 JULY 2014 ROYAL DUTCH SHELL PLC
BALANCING GROWTH & RETURNS SECOND QUARTER 2014 RESULTS 31 JULY 2014 ROYAL DUTCH SHELL PLC 1 BEN VAN BEURDEN CHIEF EXECUTIVE OFFICER ROYAL DUTCH SHELL PLC 2 DEFINITIONS & CAUTIONARY NOTE Reserves: Our use
More informationRetail Wealth Management Investor Presentation Royal Dutch Shell plc. October 3, 2017
Retail Wealth Management Investor Presentation Royal Dutch Shell plc October 3, 2017 Definitions & cautionary note Underlying operating expenses are defined as operating expenses less identified items.
More informationGROWING ROLE OF GAS & LNG
GROWING ROLE OF GAS & LNG LNG PRODUCER CONSUMER CONFERENCE 2018 STEVE HILL EVP SHELL ENERGY Steve Hill EVP Shell Energy Royal Dutch Shell plc October 2018 DEFINITIONS & CAUTIONARY NOTE Reserves: Our use
More informationROYAL DUTCH SHELL PLC
ROYAL DUTCH SHELL PLC THIRD QUARTER 212 RESULTS THE HAGUE NOVEMBER 1, 212 Copyright of Royal Dutch Shell plc 1 November, 212 1 ROYAL DUTCH SHELL PLC THIRD QUARTER 212 RESULTS SIMON HENRY CHIEF FINANCIAL
More informationROYAL DUTCH SHELL PLC
UNAUDITED FINANCIAL STATEMENTS AND OPERATING INFORMATION Index: (Click on the link below for desired data) Consolidated Statement of Income Condensed Consolidated Balance Sheet Consolidated Statement of
More informationBrazil Shareholder visit 2016 Re-shaping Shell to create a world-class investment case
Brazil Shareholder visit 2016 Re-shaping Shell to create a world-class investment case Royal Dutch Shell plc November 9, 2016 Let s make the future Andrew Brown Upstream Director Royal Dutch Shell plc
More informationROYAL DUTCH SHELL PLC FIRST QUARTER 2018 RESULTS
APRIL 26 TH 2018 WEBCAST TO MEDIA AND ANALYSTS BY JESSICA UHL, CHIEF FINANCIAL OFFICER OF ROYAL DUTCH SHELL PLC Ladies and gentlemen, welcome to the Shell first quarter 2018 results call. Before we start,
More informationROYAL DUTCH SHELL PLC
UNAUDITED FINANCIAL STATEMENTS AND OPERATING INFORMATION Index: (Click on the link below for desired data) Consolidated Statement of Income Condensed Consolidated Balance Sheet Consolidated Statement of
More informationROYAL DUTCH SHELL PLC
ROYAL DUTCH SHELL PLC UNAUDITED FINANCIAL STATEMENTS AND OPERATING INFORMATION Index: (Click on the link below for desired data) Consolidated Statement of Income Earnings and Dividends per Share and per
More informationROYAL DUTCH SHELL PLC THIRD QUARTER 2017 RESULTS
NOVEMBER 2 ND 2017 WEBCAST TO MEDIA AND ANALYSTS BY JESSICA UHL, CHIEF FINANCIAL OFFICER OF ROYAL DUTCH SHELL PLC Ladies and gentlemen, welcome to the Shell third quarter 2017 results call. Before we start,
More informationDELIVERING INNOVATIVE & COMPETITIVE PERFORMANCE
DELIVERING INNOVATIVE & COMPETITIVE PERFORMANCE FIRST QUARTER 213 RESULTS ROYAL DUTCH SHELL PLC 2 MAY 213 Copyright of Royal Dutch Shell plc 2 May, 213 1 DELIVERING INNOVATIVE & COMPETITIVE PERFORMANCE
More informationRemuneration. April 2018 Shareholder Engagement. Royal Dutch Shell plc. Gerard Kleisterlee Chairman of the Remuneration Committee
Remuneration April 2018 Shareholder Engagement Royal Dutch Shell plc Gerard Kleisterlee Chairman of the Remuneration Committee Royal Dutch Shell April 2018 Definitions & cautionary note Reserves: Our use
More informationROYAL DUTCH SHELL PLC THIRD QUARTER 2014 RESULTS
OCTOBER 30 TH 2014 WEBCAST TO ANALYSTS BY SIMON HENRY, CHIEF FINANCIAL OFFICER OF ROYAL DUTCH SHELL PLC Ladies and gentlemen, a very warm welcome to you all. We ve announced our third quarter results today,
More informationROYAL DUTCH SHELL PLC THIRD QUARTER 2018 RESULTS
NOVEMBER 1 st 2018 SECOND QUARTER 2018 RESULTS WEBCAST TO MEDIA AND ANALYSTS BY JESSICA UHL, CHIEF FINANCIAL OFFICER OF ROYAL DUTCH SHELL PLC Ladies and gentlemen, welcome to the Shell third quarter 2018
More informationROYAL DUTCH SHELL PLC FOURTH QUARTER 2018 RESULTS
JANUARY 31 ST 2019 WEBCAST TO MEDIA AND ANALYSTS BY BEN VAN BEURDEN, CHIEF EXECUTIVE OFFICER OF AND JESSICA UHL, CHIEF FINANCIAL OFFICER OF Ladies and gentlemen. It is a pleasure to welcome you here today.
More informationROYAL DUTCH SHELL PLC THIRD QUARTER 2016 RESULTS
NOVEMBER 1 ST 2016 WEBCAST TO ANALYSTS BY SIMON HENRY, CHIEF FINANCIAL OFFICER OF Ladies and gentlemen, welcome to today s presentation. We ve announced our third quarter results this morning. Let me give
More informationBALANCING GROWTH & RETURNS THIRD QUARTER 2014 RESULTS 30 OCTOBER 2014 ROYAL DUTCH SHELL PLC
BALANCING GROWTH & RETURNS THIRD QUARTER 2014 RESULTS 30 OCTOBER 2014 ROYAL DUTCH SHELL PLC 1 SIMON HENRY CHIEF FINANCIAL OFFICER ROYAL DUTCH SHELL PLC 2 DEFINITIONS & CAUTIONARY NOTE The companies in
More informationROYAL DUTCH SHELL PLC FIRST QUARTER 2017 RESULTS
MAY 4 TH 2017 WEBCAST TO MEDIA BY JESSICA UHL, CHIEF FINANCIAL OFFICER OF ROYAL DUTCH SHELL PLC Ladies and gentlemen, welcome to the Shell first quarter 2017 results call. It is a pleasure to be on this
More informationROYAL DUTCH SHELL PLC 1 ST QUARTER 2018 UNAUDITED RESULTS
SUMMARY OF UNAUDITED RESULTS Definition % 1 Income/(loss) attributable to shareholders 5,899 3,807 3,538 +67 CCS earnings attributable to shareholders Note 2 5,703 3,082 3,381 +69 Of which: Identified
More informationROYAL DUTCH SHELL PLC SECOND QUARTER 2017 RESULTS
JULY 27 TH 2017 WEBCAST TO ANALYSTS BY BEN VAN BEURDEN, CHIEF EXECUTIVE OFFICER OF ROYAL DUTCH SHELL PLC AND JESSICA UHL, CHIEF FINANCIAL OFFICER OF ROYAL DUTCH SHELL PLC I would like to welcome everybody
More informationRemuneration November 2018 Shareholder Engagement
Remuneration November 2018 Shareholder Engagement Royal Dutch Shell plc Gerard Kleisterlee Chair of the Remuneration Committee Definitions & cautionary note Operating costs are defined as underlying operating
More informationApril 2017 Engagement
Remuneration April 2017 Engagement Royal Dutch Shell plc Gerard Kleisterlee Chairman of the Remuneration Committee Definitions & cautionary note Reserves: Our use of the term reserves in this presentation
More informationDELIVERING INNOVATIVE & COMPETITIVE PERFORMANCE
DELIVERING INNOVATIVE & COMPETITIVE PERFORMANCE SECOND QUARTER 2013 RESULTS ROYAL DUTCH SHELL PLC 1 AUGUST 2013 Copyright of Royal Dutch Shell plc 1 August, 2013 1 Lubricants Zhuhai blending and filling
More informationBrazil Shareholder visit 2016 Re-shaping Shell to create a world-class investment case
Brazil Shareholder visit 216 Re-shaping Shell to create a world-class investment case Royal Dutch Shell plc November 9, 216 Let s make the future Royal Dutch Shell November 9, 216 Wael Sawan EVP Deepwater
More informationROYAL DUTCH SHELL PLC FIRST QUARTER 2012 RESULTS BY CHIEF FINANCIAL OFFICER SIMON HENRY
APRIL 26 th 2012 WEBCAST TO ANALYSTS BY SIMON HENRY, CHIEF FINANCIAL OFFICER OF Welcome to the Royal Dutch Shell first quarter 2012 results presentation. I ll take you through the results and portfolio
More informationROYAL DUTCH SHELL PLC SECOND QUARTER 2018 RESULTS
JULY 26 Th 2018 WEBCAST TO MEDIA AND ANALYSTS BY BEN VAN BEURDEN, CHIEF EXECUTIVE OFFICER OF ROYAL DUTCH SHELL PLC AND JESSICA UHL, CHIEF FINANCIAL OFFICER OF ROYAL DUTCH SHELL PLC Ladies and gentlemen,
More informationCOMPANY UPDATE BERNSTEIN STRATEGIC DECISIONS CONFERENCE
COMPANY UPDATE BERNSTEIN STRATEGIC DECISIONS CONFERENCE ROYAL DUTCH SHELL 30 SEPTEMBER 2015 1 BEN VAN BEURDEN CHIEF EXECUTIVE OFFICER ROYAL DUTCH SHELL PLC 2 DEFINITIONS & CAUTIONARY NOTE NOT FOR RELEASE,
More informationDOWNSTREAM - STRATEGIC CHALLENGES AND OPPORTUNITIES IN UNCERTAIN TIMES
DOWNSTREAM - STRATEGIC CHALLENGES AND OPPORTUNITIES IN UNCERTAIN TIMES Mark Quartermain Vice President, Downstream Strategy Development & Consultancy 1 DEFINITIONS AND CAUTIONARY NOTE Resources: Our use
More informationCS VAIL ENERGY CONFERENCE BALANCING GROWTH & RETURNS 24 FEBRUARY 2015 ROYAL DUTCH SHELL PLC
CS VAIL ENERGY CONFERENCE BALANCING GROWTH & RETURNS 24 FEBRUARY 215 ROYAL DUTCH SHELL PLC 1 MARVIN ODUM UPSTREAM AMERICAS DIRECTOR ROYAL DUTCH SHELL PLC 2 DEFINITIONS & CAUTIONARY NOTE Reserves: Our use
More informationBrazil Shareholder visit 2016 Re-shaping Shell, to create a world-class investment case
Brazil Shareholder visit 2016 Re-shaping Shell, to create a world-class investment case Royal Dutch Shell plc November 11, 2016 Let s make the future Royal Dutch Shell November 11, 2016 John Abbott Downstream
More informationROYAL DUTCH SHELL PLC
ROYAL DUTCH SHELL PLC UNAUDITED FINANCIAL STATEMENTS AND OPERATING INFORMATION This version of the Supplementary financial and operational disclosure shows variances compared with previously-published
More informationRoyal Dutch Shell plc
Royal Dutch Shell plc 1 ST QUARTER 2011 UNAUDITED RESULTS Royal Dutch Shell s first quarter 2011 earnings, on a current cost of supplies (CCS) basis (see Note 1), were $6.9 billion compared with $4.9 billion
More informationROYAL DUTCH SHELL PLC
ROYAL DUTCH SHELL PLC 4 TH QUARTER AND FULL YEAR 2014 UNAUDITED RESULTS Royal Dutch Shell s fourth quarter 2014 earnings, on a current cost of supplies (CCS) basis (see Note 2), were $4.2 billion compared
More informationRoyal Dutch Shell plc
Royal Dutch Shell plc 4 TH QUARTER AND FULL YEAR 2012 UNAUDITED RESULTS Royal Dutch Shell s fourth quarter 2012 earnings, on a current cost of supplies (CCS) basis (see Note 1), were $7.3 billion compared
More informationROYAL DUTCH SHELL PLC 4 TH QUARTER AND FULL YEAR 2017 UNAUDITED RESULTS
4 TH QUARTER AND FULL YEAR 2017 UNAUDITED RESULTS SUMMARY OF UNAUDITED RESULTS Q4 2017 Q3 2017 Q4 2016 % 1 Definition 2017 2016 % 3,807 4,087 1,541 +147 Income/(loss) attributable to shareholders 12,977
More informationSHELL S EXPERIENCE IN DEVELOPING AND APPLYING AN INTERNAL CO 2 PROJECT SCREENING VALUE
SHELL S EXPERIENCE IN DEVELOPING AND APPLYING AN INTERNAL CO 2 PROJECT SCREENING VALUE UNFCCC TEM 20 May 2016 Royal Dutch Shell plc Angus Gillespie VP CO 2 DEFINITIONS AND CAUTIONARY NOTE Reserves: Our
More informationROYAL DUTCH SHELL PLC FOURTH QUARTER 2017 RESULTS
FEBRUARY 1 ST 2018 WEBCAST TO MEDIA AND ANALYSTS BY BEN VAN BEURDEN, CHIEF EXECUTIVE OFFICER OF ROYAL DUTCH SHELL PLC AND JESSICA UHL, CHIEF FINANCIAL OFFICER OF ROYAL DUTCH SHELL PLC Ladies and gentlemen,
More informationROYAL DUTCH SHELL PLC SECOND QUARTER 2014 RESULTS
JULY 31 ST 2014 WEBCAST TO MEDIA BY BEN VAN BEURDEN, CHIEF EXECUTIVE OFFICER OF AND SIMON HENRY, CHIEF FINANCIAL OFFICER OF Ladies and gentlemen a very warm welcome to you all. We ve announced our second
More informationROYAL DUTCH SHELL PLC FIRST QUARTER 2013 RESULTS BY CHIEF FINANCIAL OFFICER SIMON HENRY
MAY 2 nd 2013 WEBCAST TO ANALYSTS BY SIMON HENRY, CHIEF FINANCIAL OFFICER OF ROYAL DUTCH SHELL PLC Welcome to the Royal Dutch Shell first quarter 2013 results presentation. Let me give you a run through
More informationROYAL DUTCH SHELL PLC
ROYAL DUTCH SHELL PLC 4 TH QUARTER AND FULL YEAR 2013 UNAUDITED RESULTS Royal Dutch Shell s fourth quarter 2013 earnings, on a current cost of supplies (CCS) basis (see Note 1), were $2.2 billion compared
More informationREMUNERATION ROADSHOW Q ENGAGEMENT
REMUNERATION ROADSHOW Q1 2014 ENGAGEMENT MAY 2014 ROYAL DUTCH SHELL PLC www.shell.com/esg 1 CAUTIONARY NOTE The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate
More informationRoyal Dutch Shell plc
Royal Dutch Shell plc 3 RD QUARTER 2012 UNAUDITED RESULTS Royal Dutch Shell s third quarter 2012 earnings, on a current cost of supplies (CCS) basis (see Note 1), were $6.1 billion compared with $7.2 billion
More informationNovember 2013 Dr Alistair Fraser VP Health, Royal Dutch Shell
November 2013 VP Health, Royal Dutch Shell Copyright of Royal Dutch Shell November 2013 1 DEFINITIONS AND CAUTIONARY NOTE Reserves: Our use of the term reserves in this presentation means SEC proved oil
More informationROYAL DUTCH SHELL PLC 2 ND QUARTER 2018 AND HALF YEAR UNAUDITED RESULTS
SUMMARY OF UNAUDITED RESULTS Q2 2018 Q1 2018 Q2 2017 % 1 Definition 2018 2017 % 6,024 5,899 1,545 +290 Income/(loss) attributable to shareholders 11,923 5,083 +135 5,226 5,703 1,920 +172 CCS earnings attributable
More informationROYAL DUTCH SHELL PLC FIRST QUARTER 2015 RESULTS BY CHIEF FINANCIAL OFFICER SIMON HENRY
APRIL 30 th 2015 WEBCAST TO ANALYSTS BY SIMON HENRY, CHIEF FINANCIAL OFFICER OF Ladies and gentlemen, welcome to today s presentation. We ve announced our first quarter results this morning, and I will
More informationROYAL DUTCH SHELL PLC 3 RD QUARTER 2017 UNAUDITED RESULTS
SUMMARY OF UNAUDITED RESULTS Q3 2017 Q2 2017 Q3 2016 % 1 Definition 2017 2016 % 4,087 1,545 1,375 +197 Income/(loss) attributable to shareholders 9,170 3,034 +202 3,698 1,920 1,448 +155 CCS earnings attributable
More informationROYAL DUTCH SHELL PLC
ROYAL DUTCH SHELL PLC 1 ST QUARTER 2014 UNAUDITED RESULTS Royal Dutch Shell s first quarter 2014 earnings, on a current cost of supplies (CCS) basis (see Note 2), were $4.5 billion compared with $8.0 billion
More informationFourth quarter 2016 results
Fourth quarter 2016 results Re-shaping Shell, to create a world-class investment case Royal Dutch Shell plc February 2, 2017 #makethefuture Royal Dutch Shell February 2, 2017 Ben van Beurden Chief Executive
More informationROYAL DUTCH SHELL PLC
ROYAL DUTCH SHELL PLC 3 RD QUARTER 2013 UNAUDITED RESULTS Royal Dutch Shell s third quarter 2013 earnings, on a current cost of supplies (CCS) basis (see Note 1), were $4.2 billion compared with $6.2 billion
More information02/11/2017 Royal Dutch Shell Plc 3rd Quarter 2017 Unaudited Results - RNS - London Stock Exchange
02/11/ Royal Dutch Shell Plc 3rd Quarter Unaudited Results - RNS - London Stock Exchange Regulatory Story Go to market news section Royal Dutch Shell PLC - RDSA Released 07:02 02-Nov- Royal Dutch Shell
More informationRemuneration. Additional Information: 2017 Directors Remuneration Report. Royal Dutch Shell plc. Royal Dutch Shell May 2018
Remuneration Additional Information: 2017 Directors Remuneration Report Royal Dutch Shell plc Royal Dutch Shell May 2018 Definitions & cautionary note The companies in which Royal Dutch Shell plc directly
More informationPreparing for Emissions Trading
Preparing for Emissions Trading Roon Osman Head of Asia Pacific Markets, Environmental Products, Shell 25 th September, Seoul September 2013 Disclaimer The companies in which Royal Dutch Shell plc directly
More informationROYAL DUTCH SHELL PLC
SUMMARY OF UNAUDITED RESULTS Quarters $ million Half year Q2 2016 Q1 2016 Q2 2015 % 1 2016 2015 % 1,175 484 3,986-71 Income attributable to shareholders 1,659 8,416-80 (936) 330 (625) Current cost of supplies
More informationROYAL DUTCH SHELL PLC SECOND QUARTER 2014 RESULTS
JULY 31 ST 2014 WEBCAST TO ANALYSTS BY BEN VAN BEURDEN, CHIEF EXECUTIVE OFFICER OF ROYAL DUTCH SHELL PLC AND SIMON HENRY, CHIEF FINANCIAL OFFICER OF ROYAL DUTCH SHELL PLC Ladies and gentlemen a very warm
More informationCommunicating carbon pricing Sharing the experience of Royal Dutch Shell plc
Communicating carbon pricing Sharing the experience of Royal Dutch Shell plc David Hone Chief Climate Change Adviser, Shell International Ltd. 1 WARNING: Uncertainties ahead The companies in which Royal
More informationSHELL AND THE WATER-ENERGY-FOOD NEXUS
SHELL AND THE WATER-ENERGY-FOOD NEXUS Allard Castelein, Vice President Environment, Shell OECD Global Forum on Environment 26 October 2011 Copyright of Shell International Limited 1 CAUTIONARY NOTE The
More informationBALANCING GROWTH AND RETURNS 2015 ANNUAL GENERAL MEETING
BALANCING GROWTH AND RETURNS 2015 ANNUAL GENERAL MEETING ROYAL DUTCH SHELL 19 MAY 2015 1 DEFINITIONS & CAUTIONARY NOTE NOT FOR RELEASE, PRESENTATION, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN,
More informationROYAL DUTCH SHELL PLC
ROYAL DUTCH SHELL PLC 4 TH QUARTER AND FULL YEAR 2015 UNAUDITED RESULTS Royal Dutch Shell s fourth quarter 2015 earnings, on a current cost of supplies (CCS) basis (see Note 2), were $1.8 billion compared
More informationROYAL DUTCH SHELL PLC
ROYAL DUTCH SHELL PLC 3 RD QUARTER 2014 UNAUDITED RESULTS Royal Dutch Shell s third quarter 2014 earnings, on a current cost of supplies (CCS) basis (see Note 2), were $5.3 billion compared with $4.2 billion
More informationKnowledge transfer from commercial scale projects: Quest
Knowledge transfer from commercial scale projects: Quest Dr Owain Tucker Global Deployment Lead for CO 2 storage Copyright of Shell International Global Solutions B.V. International November 2016 1 Definitions
More informationRoyal Dutch Shell plc
Royal Dutch Shell plc 4TH QUARTER AND FULL YEAR 2008 UNAUDITED RESULTS Royal Dutch Shell s fourth quarter 2008 earnings, on a current cost of supplies (CCS) basis, were $4.8 billion compared to $6.7 billion
More informationROYAL DUTCH SHELL PLC
ROYAL DUTCH SHELL PLC 3 RD QUARTER 2015 UNAUDITED RESULTS Royal Dutch Shell s third quarter 2015 earnings, on a current cost of supplies (CCS) basis (see Note 2), were a loss of $6.1 billion compared with
More informationROYAL DUTCH SHELL PLC SECOND QUARTER 2012 RESULTS
ROYAL DUTCH SHELL PLC SECOND QUARTER 2012 RESULTS LONDON JULY 26 2012 Copyright of Royal Dutch Shell plc 26 July 2012 1 ROYAL DUTCH SHELL PLC SECOND QUARTER 2012 RESULTS PETER VOSER CHIEF EXECUTIVE OFFICER
More informationRECOMMENDED COMBINATION WITH BG GROUP 8 APRIL 2015 ROYAL DUTCH SHELL PLC
RECOMMENDED COMBINATION WITH BG GROUP 8 APRIL 2015 ROYAL DUTCH SHELL PLC 1 DEFINITIONS & CAUTIONARY NOTE NOT FOR RELEASE, PRESENTATION, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM
More informationREFLECTIONS ON THE USE OF STANDARDS IN SHELL
REFLECTIONS ON THE USE OF STANDARDS IN SHELL Andre van der Stap Team lead Offshore structures EMEA region, Shell P&T Use this area for cover image (height 6.5cm, width 8cm) NEN Delft, 10 February 2015
More informationROYAL DUTCH SHELL PLC 2016 CAPITAL MARKETS DAY
JUNE 7 TH 2016 WEBCAST TO MEDIA BY BEN VAN BEURDEN, CHIEF EXECUTIVE OFFICER OF ROYAL DUTCH SHELL PLC AND SIMON HENRY, CHIEF FINANCIAL OFFICER OF ROYAL DUTCH SHELL PLC Ladies and gentlemen, it s a pleasure
More informationROYAL DUTCH SHELL PLC
ROYAL DUTCH SHELL PLC 1 ST QUARTER 2013 UNAUDITED RESULTS Royal Dutch Shell s first quarter 2013 earnings, on a current cost of supplies (CCS) basis (see Note 1), were $8.0 billion compared with $7.7 billion
More informationROYAL DUTCH SHELL PLC NIGERIA: FINANCING CONSIDERATIONS
ROYAL DUTCH SHELL PLC NIGERIA: FINANCING CONSIDERATIONS PORT HARCOURT OCTOBER 10, 2012 Copyright of Royal Dutch Shell plc 10 October 2012 1 NIGERIA: FINANCING CONSIDERATIONS BERNARD BOS VICE PRESIDENT
More informationLNG in Transport from vision into reality Cees Dikker. Copyright of COMPANY NAME
LNG in Transport from vision into reality Cees Dikker Copyright of COMPANY NAME DISCLAIMER STATEMENT The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate entities.
More informationREFHYNE Project 10 MW Electrolyser Rhineland Refinery. General Overview. Dr. Jörg Dehmel Technology Manager Shell Rhineland
REFHYNE Project 10 MW Electrolyser Rhineland Refinery General Overview Dr. Jörg Dehmel Technology Manager Shell Rhineland April 2018 1 Definitions & cautionary note The companies in which Royal Dutch Shell
More informationA New Approach to Well Completion Design, Surveillance
A New Approach to Well Completion Design, Surveillance Hwei Fung Lim (Shell), Scott Glendinning (RESMAN) April 2018 1 Cautionary Note The companies in which Royal Dutch Shell plc directly and indirectly
More informationRe-shaping Shell, to create a world-class investment case Downstream Day Societe Generale
Re-shaping Shell, to create a world-class investment case Downstream Day Societe Generale John Abbott Downstream Director Royal Dutch Shell plc May 11, 2017 #makethefuture John Abbott Downstream Director
More informationIn transport. Oliver Bishop General Manager for Hydrogen, Shell New Fuels. Copyright of Shell International B.V.
In transport Oliver Bishop General Manager for Hydrogen, Shell New Fuels Definitions & cautionary note The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate
More informationNews Release Exxon Mobil Corporation 5959 Las Colinas Boulevard Irving, TX Telephone Facsimile
News Release 5959 Las Colinas Boulevard Irving, TX 75039 972 444 1107 Telephone 972 444 1138 Facsimile FOR IMMEDIATE RELEASE TUESDAY, JANUARY 31, 2017 ExxonMobil Earns $7.8 Billion in 2016; $1.7 Billion
More informationRoyal Dutch/Shell Group of Companies
Royal Dutch/Shell Group of Companies Summary results 2005 Results FIRST QUARTER 2005 % Unaudited Unaudited Income attributable to Parent Companies * 6,673 4,702 +42 Estimated current cost of supplies (CCS)
More informationROYAL DUTCH SHELL PLC GLOBAL OIL AND GAS CONFERENCE DEUTSCHE BANK LONDON
ROYAL DUTCH SHELL PLC GLOBAL OIL AND GAS CONFERENCE DEUTSCHE BANK LONDON LONDON SEPTEMBER 27, 2012 Copyright of Royal Dutch Shell plc 27 September 2012 1 ROYAL DUTCH SHELL PLC DEUTSCHE BANK LONDON SIMON
More informationMethane Technology. Mayberry meets Star Trek. Brad Morello
Methane Technology Mayberry meets Star Trek Presentation covers methane related technologies and the various groups advancing their development with the aim of commercialization and industry deployment.
More informationMaarten Wetselaar, who will become Integrated Gas Director and a member of the executive committee.
NOT FOR RELEASE, PRESENTATION, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISIDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
More informationMeet ALASKA. Energy Frontiers: Shell s perspective on business in the Arctic. Anchorage. January 21 st, 2011
DRAFT 1 Energy Frontiers: Shell s perspective on business in the Arctic Meet ALASKA Anchorage January 21 st, 2011 Robert Blaauw Senior Advisor Global Arctic Theme 2 DISCLAIMER STATEMENT This presentation
More informationFirst quarter 2018 earnings conference call and webcast
First quarter 2018 earnings conference call and webcast Pat Yarrington Vice President and Chief Financial Officer Mark Nelson Vice President, Midstream, Strategy and Policy Frank Mount / Wayne Borduin
More informationROYAL DUTCH SHELL PLC
Following completion of the acquisition on February 15, 2016, BG Group plc ( BG ) has been consolidated within Royal Dutch Shell s results. For practical purposes, this includes February and March 2016,
More informationRoyal Dutch Shell plc fourth quarter 2017 interim dividend
Royal Dutch Shell plc fourth quarter 2017 interim dividend Feb 1, 2018 The Board of Royal Dutch Shell plc ( RDS or the Company ) today announced an interim dividend in respect of the fourth quarter of
More informationROYAL DUTCH SHELL PLC FOURTH QUARTER AND FULL YEAR 2013 RESULTS
JANUARY 30 th 2014 WEBCAST TO ANALYSTS BY BEN VAN BEURDEN, CHIEF EXECUTIVE OFFICER OF ROYAL DUTCH SHELL PLC AND SIMON HENRY, CHIEF FINANCIAL OFFICER OF ROYAL DUTCH SHELL PLC Ladies and gentlemen, a very
More informationLARGE OPEN HEAD STEEL DRUMS
Small and Medium Enterprises Business Opportunities LARGE OPEN HEAD STEEL DRUMS MANUFACTURING Small and Medium Enterprises Business Opportunities TECHNICAL FOCAL POINT: Saeful Sukardi Head of Waste Logistics
More informationSupplementary Information: Definitions and reconciliation of non-gaap measures.
Supplementary Information: Definitions and reconciliation of non-gaap measures. The information below has been provided to enhance understanding of the terminology and performance measures that have been
More informationBALANCING GROWTH & RETURNS MANAGEMENT DAY MARCH 2014 ROYAL DUTCH SHELL PLC
BALANCING GROWTH & RETURNS MANAGEMENT DAY 2014 13 MARCH 2014 ROYAL DUTCH SHELL PLC 1 DEFINITIONS & CAUTIONARY NOTE Reserves: Our use of the term reserves in this presentation means SEC proved oil and gas
More informationFourth quarter 2018 earnings conference call and webcast
Fourth quarter 2018 earnings conference call and webcast Mike Wirth Chairman and Chief Executive Officer Pat Yarrington Vice President and Chief Financial Officer Wayne Borduin General Manager, Investor
More informationROYAL DUTCH SHELL PLC UNEP REPORT AND RESPONSE
ROYAL DUTCH SHELL PLC UNEP REPORT AND RESPONSE PORT HARCOURT OCTOBER 10, 2012 Copyright of Royal Dutch Shell plc 10 October 2012 1 UNEP REPORT AND RESPONSE AUGUSTINE IGBUKU MANAGER OGONI RESTORATION PROJECT
More information2015 Royal Dutch Shell plc. Annual General Meeting
2015 Royal Dutch Shell plc. Annual General Meeting The Hague, the Netherlands JORMA OLLILA Chairman, Royal Dutch Shell plc May 19, 2015 BEN VAN BEURDEN Chief Executive Officer, Royal Dutch Shell plc May
More informationROYAL DUTCH SHELL PLC SECOND QUARTER 2013 RESULTS BY CHIEF EXECUTIVE OFFICER PETER VOSER AND CHIEF FINANCIAL OFFICER SIMON HENRY
AUGUST 1 st 2013 WEBCAST TO ANALYSTS BY PETER VOSER, CHIEF EXECUTIVE OFFICER OF, AND SIMON HENRY, CHIEF FINANCIAL OFFICER OF ROYAL DUTCH SHELL PLC Ladies and gentlemen a very warm welcome to you all. We
More informationRoyal Dutch Shell plc
Royal Dutch Shell plc 2 ND QUARTER AND HALF YEAR 2012 UNAUDITED RESULTS Royal Dutch Shell s second quarter 2012 earnings, on a current cost of supplies (CCS) basis (see Note 1), were $6.0 billion compared
More informationRoyal Dutch Shell plc Financial and Operational Information
PUBLICATION REQUESTS Royal Dutch Shell plc c/o Bankside Tel: +44 (0)1635 232700 e-mail: bbs@shellbankside.co.uk PUBLICATIONS Annual Report and Form 20-F for the year ended December 31, 2005 A comprehensive
More informationSHELL MIDSTREAM PARTNERS, L.P. (SHLX) Q RESULTS ANNOUNCEMENT
SHELL MIDSTREAM PARTNERS, L.P. (SHLX) Q2 2016 RESULTS ANNOUNCEMENT August 4, 2016 DEFINITIONS AND CAUTIONARY NOTE This presentation includes various forward-looking statements within the meaning of Section
More informationChevron Reports Fourth Quarter Earnings of $3.1 Billion, Annual Earnings of $9.2 Billion
Chevron Reports Earnings of $3.1 Billion, Annual Earnings of $9.2 Billion Strong cash flow drives dividend increase of $0.04 per share Reserves replacement tops 150 percent Production grows 5 percent;
More informationChevron Reports Fourth Quarter Net Income of $3.5 Billion And 2014 Earnings of $19.2 Billion
Policy, Government and Public Affairs Chevron Corporation P.O. Box 6078 San Ramon, CA 94583-0778 www.chevron.com FOR RELEASE AT 5:30 AM PST JANUARY 30, 2015 Chevron Reports Fourth Quarter Net Income of
More informationManagement Day. Delivering a world-class investment case. Royal Dutch Shell plc November 28-29, #makethefuture
Management Day Delivering a world-class investment case Royal Dutch Shell plc November 28-29, 2017 #makethefuture Royal Dutch Shell November 28-29, 2017 Ben van Beurden Chief Executive Officer Bangkok
More informationThird quarter 2017 earnings conference call and webcast
Third quarter 2017 conference call and webcast John Watson Chairman and Chief Executive Officer Pat Yarrington Vice President and Chief Financial Officer Frank Mount General Manager, Investor Relations
More information