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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 has submitted its Form 20-F for the year ending December 31, 2022, to the US Securities and Exchange Commission on March 9, 2023. The filed document is accessible through the Shell investor website and the SEC's official site. Additionally, the company has published its Annual Report and Accounts for the same period, available for online viewing and PDF download. Printed copies will be offered free of charge starting April 17, 2023. Investors can obtain copies via the Shell website. This release primarily informs stakeholders about the formal filing of important financial documents, underscoring the company’s commitment to transparency.
Shell plc has released its Annual Report and Accounts for the fiscal year ending December 31, 2022. This report, submitted to comply with article 9.6.1 of the Listing Rules, will be presented at the Annual General Meeting scheduled for May 23, 2023. The document is accessible online from March 9, 2023, and printed copies can be requested starting April 17, 2023. Additionally, a Form 20-F filing with the US Securities and Exchange Commission will also be available today. For more details, shareholders and stakeholders can visit www.shell.com.
Shell plc has published its Annual Report and Accounts for the fiscal year ending December 31, 2022. The report will be submitted for review at the Annual General Meeting scheduled for May 23, 2023. The report is accessible online from March 9, 2023, at www.shell.com/annual-publications, and printed copies can be ordered starting April 17, 2023. Additionally, Shell will file its Form 20-F with the US Securities and Exchange Commission on the same day. Compliance with regulatory requirements has been ensured, with reports submitted to both the National Storage Mechanism and the Dutch Authority for the Financial Markets.
On March 7, 2023, Shell plc announced the purchase of 1,935,000 shares for cancellation under its existing buy-back program initiated on February 2, 2023. Purchases were made at prices ranging from £25.830 to £26.090 in GBP and €29.055 to €29.405 in EUR. The buy-back will be managed by BNP Paribas Exane, who will operate independently until April 28, 2023. This program complies with the regulatory frameworks of EU and UK MAR. The breakdown of trades provides detailed insight into this share repurchase activity, reflecting the company's ongoing commitment to enhancing shareholder value.
On March 7, 2023, Shell plc disclosed that several Persons Discharging Managerial Responsibilities (PDMRs) received shares following the vesting of awards from the Long Term Incentive Plan (LTIP) established in 2020. Notable transactions included Chief Executive Officer Wael Sawan receiving 65,882.57 shares and Chief Financial Officer Sinead Gorman receiving 21,213.42 shares, all on March 3, 2023. The aggregate number of shares vested amounted to significant figures for each PDMR, emphasizing the company's commitment to rewarding key executives. Further details can be referenced in Shell's Annual Report.
On March 3, 2023, Shell plc announced the purchase of 1,151,628 shares for cancellation as part of its ongoing buy-back program. The shares were acquired at a volume-weighted average price of £25.650 on LSE. Additional purchases included 75,979 shares at £25.779, 132,393 shares at £25.795 on BATS, and several others across various trading venues totaling 1,498,748 shares. BNP Paribas Exane is managing the trading decisions independently, with operations under the parameters set by the buy-back program that is compliant with EU and UK market regulations.
On 1 March 2023, Shell plc announced the purchase of 1,399,300 shares for cancellation as part of its buy-back program initiated on 2 February 2023. The purchases occurred across various trading venues including LSE, Chi-X, BATS, and others, with prices ranging from £25.400 to £29.075 across different exchanges. The trading decisions are independently managed by BNP Paribas Exane until 28 April 2023. This buy-back complies with both EU and UK Market Abuse Regulations. The breakdown of individual trades reaffirms the company's commitment to enhancing shareholder value through strategic share repurchases.
Shell plc has updated its capital structure as of February 28, 2023, announcing a total of 6,931,400,959 ordinary shares of €0.07 each. The company does not hold any treasury shares. This figure is critical for shareholders to determine their obligations under the FCA's Disclosure Guidance and Transparency Rules regarding notifying changes in their ownership interest. The total share count includes shares bought back by the company as part of its ongoing buy-back program, which are not yet cancelled.
This announcement complies with regulatory requirements aimed at maintaining transparency in shareholder equity.
On 27 February 2023, Shell plc executed a share buyback, purchasing a total of 584,032 shares for cancellation. The highest price paid was £25.560, while the lowest was £25.185, with a volume-weighted average price of £25.368 across trades executed on the London Stock Exchange. Additional purchases included 5,165 shares at an average of £25.400 on Chi-X and 10,803 shares at £25.406 on BATS, among others. This buyback is part of an ongoing program announced on 2 February 2023, managed independently by BNP Paribas Exane until 28 April 2023, adhering to regulatory frameworks including UK and EU market abuse regulations.
On February 27, 2023, Shell plc disclosed share transactions by Persons Discharging Managerial Responsibilities (PDMRs) under the EU and UK Market Abuse Regulations. A total of nine PDMRs received shares as part of their annual bonus, with 50% paid in shares and subject to a three-year holding period. Key transactions include Wael Sawan receiving 7,213 shares at GBP 24.82 and Sinead Gorman receiving 12,426 shares at the same price. Other executives also received shares in similar amounts and prices, totaling hundreds of thousands in value. The complete details of these transactions can be found on Shell's website and required filings.
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