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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 announces a $3.5 billion share buyback programme to be completed before Q4 2024 results announcement on January 30, 2025. The programme aims to reduce issued share capital through share cancellation. The buyback consists of two contracts: a $2.1 billion London contract and a $1.4 billion Netherlands contract, with a maximum limit of 525,000,000 ordinary shares. The programme will be executed through an independent broker on various exchanges including London Stock Exchange, Euronext Amsterdam, and other platforms, subject to market conditions and regulatory compliance.
Shell plc has announced its third quarter 2024 interim dividend of US$ 0.344 per ordinary share (US$ 0.688 per ADS). Shareholders can receive dividends in US dollars, euros, or pounds sterling. The ex-dividend date is November 14, 2024, for ordinary shares and November 15, 2024, for ADSs. The payment date is set for December 19, 2024. The company offers Dividend Reinvestment Programmes (DRIPs) through various financial institutions, allowing shareholders to reinvest their dividends in Shell shares.
Shell plc reported Q3 2024 Adjusted Earnings of $6.0 billion, showing strong operational performance despite lower crude prices and weaker refining margins. The company generated Cash Flow from Operations (CFFO) of $14.7 billion, including a $2.7 billion working capital inflow. Shell announced a new $3.5 billion share buyback programme for the next three months, marking the 12th consecutive quarter with buybacks of $3 billion or more. Net debt reduced to $35.2 billion, and cash capex for 2024 is expected to be below $22 billion. The quarterly dividend remained stable at $0.344 per share.
Shell PLC reported Q3 2024 income of $4.29 billion, up 22% from Q2 2024 but down from $7.04 billion in Q3 2023. Adjusted earnings were $6.03 billion, down 4% quarter-on-quarter. Cash flow from operations reached $14.68 billion, up 9% from Q2. The company announced a $3.5 billion share buyback program and declared a quarterly dividend of $0.3440 per share.
Key operational highlights include achieving first gas at the Jerun field in Malaysia, signing a 10% stake in ADNOC's Ruwais LNG project, and temporarily pausing construction at the Rotterdam biofuels facility. Net debt decreased to $35.2 billion from $38.3 billion in Q2, with gearing at 15.7%.
Shell plc announced the vesting of conditional awards granted under the Shell Share Plan from October 28, 2022 for three PDMRs (Persons Discharging Managerial Responsibilities). Philippa Bounds (Legal Director) and Rachel Solway (Chief Human Resources & Corporate Officer) each received 8,404.91 shares on LSE, while Robertus Mooldijk (Projects & Technology Director) received 8,378.04 shares on AMS. The transactions occurred on October 28, 2024, outside a trading venue, with nil price.
Shell plc (SHEL) announces share repurchases conducted on October 25, 2024, as part of its existing buyback programme. The company purchased 569,895 shares on LSEG at prices between £25.3350 and £25.5700, with a volume-weighted average price of £25.4558. Additionally, 650,741 shares were purchased on XAMS at prices between €30.6650 and €30.9750, averaging €30.8302. These transactions are part of the programme announced on August 1, 2024, managed independently by Citigroup Global Markets
Shell plc announces share repurchases conducted on October 24, 2024, as part of its existing buyback programme. The company purchased 956,930 shares on LSEG at prices between £25.3800 and £25.7250 (VWAP: £25.5256), and 907,870 shares on XAMS at prices between €30.7550 and €31.1850 (VWAP: €30.9489). The purchases are part of the programme announced on August 1, 2024, managed independently by Citigroup Global Markets until October 25, 2024, following UK Listing Rules and Market Abuse Regulations.
Shell plc announces share repurchases conducted on October 23, 2024, as part of its existing buyback programme. The company purchased 944,000 shares on LSEG at prices between £25.3750 and £25.6200 (VWAP: £25.4845), and 870,000 shares on XAMS at prices between €30.7500 and €31.1350 (VWAP: €30.9375). These purchases are part of the programme announced on August 1, 2024, managed independently by Citigroup Global Markets until October 25, 2024, following UK Listing Rules and Market Abuse Regulations.
Shell plc (SHEL) announced on 22 October 2024 that it purchased 826,600 shares on the London Stock Exchange at a volume-weighted average price of £25.5758 per share, and 803,370 shares on Euronext Amsterdam at a volume-weighted average price of €30.9850 per share. These purchases are part of the company's existing share buy-back programme announced on 1 August 2024.
The programme includes both on-market and off-market limbs, with Citigroup Global Markets making independent trading decisions from 1 August 2024 to 25 October 2024. The buyback is conducted in accordance with UK and EU regulations, including the Market Abuse Regulation and the Commission Delegated Regulation.
Shell plc announced on 21 October 2024 the purchase of shares for cancellation as part of its existing share buy-back programme. The company bought 677,000 shares on the London Stock Exchange at a volume weighted average price of £25.6066 per share, and 729,100 shares on Euronext Amsterdam at €31.0322 per share.
This share repurchase is part of Shell's on- and off-market buy-back programme announced on 1 August 2024. Citigroup Global Markets is making independent trading decisions for the programme until 25 October 2024. The buy-back adheres to UK Listing Rules, EU and UK Market Abuse Regulations, and related delegated regulations.
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