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Shell plc (NYSE: SHEL) is a British multinational oil and gas company headquartered in London, England. As an integrated oil and gas company, Shell engages in the exploration, production, refining, and marketing of oil and natural gas. The company’s operations span across Europe, Asia, Oceania, Africa, and the Americas.
Shell produced an average of 1.5 million barrels of liquids and 7.3 billion cubic feet of natural gas per day in 2023. At the end of 2023, Shell’s reserves stood at 9.6 billion barrels of oil equivalent, with 49% consisting of liquids. The company operates refineries with a combined capacity of 1.6 million barrels per day and sells approximately 12 million tons of chemicals annually. Shell’s largest chemical plants are situated in Central Europe, China, Singapore, and North America.
In recent developments, Shell has released its 2023 report on payments to governments, complying with UK and EU regulations, and submitted this report to the National Storage Mechanism and the US SEC. The company is scheduled to publish its Q1 2024 financial results on May 2, 2024, with a strong outlook presented for its various segments including Integrated Gas, Upstream, Marketing, Chemicals & Products, and Renewables & Energy Solutions.
Shell remains committed to its energy transition strategy, aiming for net-zero emissions by 2050. The company’s operating plans and budgets are updated annually to reflect the current economic environment and include targets for Scope 1, Scope 2, and Net Carbon Intensity.
The company has also announced an interim dividend for Q1 2024, payable in multiple currencies. Shareholders can participate in Dividend Reinvestment Programs to reinvest their dividends into Shell shares.
Shell plc announced the purchase of its own shares on May 23, 2024, as part of its ongoing buy-back program. The company repurchased shares across various trading venues including the LSE, Chi-X, BATS, XAMS, CBOE DXE, and TQEX. The highest price paid per share was £27.8400 and €32.8250, while the lowest was £27.5250 and €32.4900. The total number of shares repurchased was 1,542,225 in GBP and 754,999 in EUR. BNP PARIBAS Financial Markets SNC manages the trading independently for the buy-back program which runs until July 26, 2024. This action aligns with Shell's strategic financial management policies within the regulations of EU MAR and UK MAR.
On May 21, 2024, Shell announced the repurchase of its shares as part of its ongoing buy-back program. The company purchased a total of 1,619,000 shares across multiple trading venues: LSE, Chi-X, BATS, XAMS, CBOE DXE, and TQEX. Prices for these buybacks ranged from £27.79 to £28.11 per share on GBP venues and €32.665 to €33.065 on EUR venues. The buy-back program, initiated on May 2, 2024, will continue until July 26, 2024, with BNP PARIBAS Financial Markets SNC making independent trading decisions within pre-set parameters and regulatory guidelines, including the Market Abuse Regulation (MAR) and its UK equivalent.
Shell plc announced the results of its Annual General Meeting held on May 21, 2024. Resolutions 1-22 were approved, while Resolution 23 was not. Key resolutions include the reappointment of directors and auditors, approval of the Directors' Remuneration Report, and authority to allot and purchase shares. Notably, Resolution 22, related to Shell's Energy Transition Strategy for 2024, received 78.03% votes in favor and 21.97% against, indicating some shareholder dissent. CEO Wael Sawan emphasized the company's commitment to becoming a net-zero emissions energy business by 2050. Full details of the resolutions are available for inspection at the National Storage Mechanism.
On 17 May 2024, Shell purchased a total of 2,160,000 shares for cancellation across various trading venues as part of its share buy-back program announced on 2 May 2024. The highest price paid per share was £28.3450 on the LSE, and the lowest was €32.8100 on XAMS. BNP Paribas Financial Markets SNC will independently manage trading decisions for the buy-back period ending 26 July 2024. The program adheres to EU MAR and UK MAR regulations.
On May 15, 2024, Shell announced the purchase of its own shares as part of an ongoing buy-back program. The company bought a total of 99,694 shares across various trading venues at prices ranging from £28.4800 to £29.2800 and €33.3400 to €34.2250. This program, managed by BNP Paribas Financial Markets SNC, runs from May 2, 2024, to July 26, 2024, and adheres to both EU MAR and UK MAR regulations. The highest volume was bought on LSE with 43,329 shares, while the lowest was on TQEX with 1,156 shares.
Shell plc announced the disposal of shares by Robertus Mooldijk, its Projects & Technology Director, as per regulations under the EU and UK market abuse regimes. On May 9, 2024, Mooldijk sold 15,000 shares at an average price of €33.833984, totaling €507,509.76. The shares were ordinary shares with a nominal value of €0.07 each. This notification serves as the initial disclosure of such a transaction.
On May 13, 2024, Shell plc announced the purchase of a significant number of its own shares for cancellation as part of its buy-back program. The purchases were made on various trading venues at different prices. BNP PARIBAS Financial Markets SNC will make trading decisions independently until July 26, 2024. The buy-back program will be conducted in compliance with relevant regulations.
Shell plc announced the purchase of a significant number of its own shares for cancellation. The company disclosed detailed information on the shares purchased, including the highest and lowest prices paid, as well as the volume-weighted average price per share. These transactions are part of the company's existing share buy-back program. BNP PARIBAS Financial Markets SNC will make trading decisions independently for a specified period. The buy-back program will be conducted in accordance with relevant regulations.
Shell plc announced on 8 May, 2024, the purchase and cancellation of a significant number of its own shares. The transactions were part of the company's share buy-back program, with purchases made both on and off the market. BNP PARIBAS Financial Markets SNC will independently make trading decisions related to the securities until 26 July, 2024. The program will be conducted in compliance with relevant regulations and laws.
Director/PDMR Shareholding PR discloses details of a transaction involving Zoe Yujnovich, a Shell plc executive, who disposed of 47,281 ordinary shares at a price of €33.870468 each, totaling €1,601,429.60 on May 6, 2024. The transaction complies with EU and UK market abuse regulations.
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