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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.
On May 25, 2022, Shell plc announced the purchase of 3,951,000 shares for cancellation under its buy-back program initiated on May 5, 2022. The shares were acquired at a volume-weighted average price of £23.844 per share on the London Stock Exchange and other venues. The buy-back is managed by BNP Paribas Exane, which will execute trades independently until July 22, 2022. This initiative is in compliance with relevant market regulations, including EU and UK Market Abuse Regulations.
On 24 May 2022, SHELL announced the purchase of 3,954,000 shares for cancellation as part of its previously announced share buy-back program from 5 May to 22 July 2022. The purchases include shares traded on LSE and Chi-X, with a volume weighted average price of approximately 23.603 GBP. BNP Paribas Exane manages this buy-back program independently, adhering to the UK and EU Market Abuse Regulations. This initiative reflects SHELL's commitment to enhancing shareholder value.
On May 24, 2022, Shell plc held its Annual General Meeting, where resolutions 1-20 were successfully passed, while resolution 21 (a shareholder resolution) did not pass. Notable voting results included 98.43% in favor of the annual report and 95.92% approval for the directors’ remuneration report. CEO Ben van Beurden emphasized the importance of shareholder support as Shell transitions towards becoming a Net-Zero Emissions energy business by 2050. He acknowledged the need for further consultation with shareholders regarding the vote outcomes.
On May 23, 2022, Shell plc announced a share buyback program, purchasing a total of 3,911,000 shares for cancellation. The shares were acquired across various trading venues, with prices ranging from £23.500 to £23.890. This activity follows a previously disclosed buy-back arrangement initiated on May 5, 2022, where BNP Paribas Exane makes independent trading decisions. The transactions are conducted under the guidelines of the Market Abuse Regulation (MAR), both EU and UK versions.
On May 20, 2022, Ed Daniels, a Person Discharging Managerial Responsibilities at Shell, modified his participation in a Dividend Reinvestment Plan (DRIP) to receive cash dividends on his holdings. He currently holds 34,152 shares in an Equiniti Nominee Account. This transaction was reported in compliance with the EU Market Abuse Regulation. The notification highlights corporate governance transparency and Ed Daniels's strategic decisions regarding his shareholdings.
On 20 May 2022, Shell plc announced the purchase of a total of 3,935,000 shares for cancellation under its share buy-back program initiated on 5 May 2022. The shares were acquired across three venues: LSE, Chi-X, and BATS, with the highest price per share at 23.790 GBP and the lowest at 23.290 GBP. This buy-back is part of an ongoing arrangement managed independently by BNP Paribas Exane. This initiative aims to enhance shareholder value through stock reduction, aligning with the company’s financial strategy.
On May 19, 2022, Shell plc announced the purchase of its own shares as part of an ongoing buy-back arrangement initiated on May 5, 2022. The total number of shares purchased was 3,933,000 across various trading venues. The highest price paid was £23.740, while the lowest was £23.010, with a volume-weighted average price of £23.199 per share. BNP Paribas Exane oversees these transactions independently within established parameters, complying with EU and UK Market Abuse Regulations. This initiative reflects Shell's commitment to enhancing shareholder value.
Shell PLC announces that Bram Schot, a Non-executive Director, has been appointed to the board of Signify N.V. This appointment is disclosed in compliance with Listing Rule 9.6.14R(2). The information is classified as additional regulated information required under the laws of a Member State. The announcement was made on May 19, 2022, by Anthony Clarke, the Deputy Company Secretary.
On May 18, 2022, Shell plc announced the purchase of 3,905,000 shares for cancellation as part of its ongoing share buy-back program initiated on May 5, 2022. The shares were acquired at a volume-weighted average price of £23.864 per share, with the highest price being £24.085 and the lowest at £23.405. The trades were executed on various venues, including LSE and Chi-X. BNP Paribas Exane is managing these transactions independently, adhering to the relevant regulations under EU MAR and UK MAR.
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