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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 2.6 million shares on 15 March 2022 as part of its ongoing share buy-back program initiated on 03 February 2022. The shares were acquired at prices ranging from £18.7240 to £19.4000 with an average price of £18.9887 across different trading venues, including LSE and Chi-X. This strategic move is designed to enhance shareholder value and is in compliance with the relevant regulatory frameworks under EU and UK market abuse regulations.
Shell plc announced its share repurchase on 14 March 2022, purchasing 2.5 million shares across various trading venues for cancellation. The shares were acquired at a highest price of £19.5640 and a lowest price of £19.1060, with a volume-weighted average price of £19.3167. These buybacks are part of a previously announced arrangement on 3 February 2022 and are executed by Citigroup Global Markets Limited following regulatory compliance for share repurchase programs.
The Board of Shell plc announced the fourth quarter 2021 interim dividend payment of US$0.24 per ordinary share, equivalent to €0.2181 or 18.28p. Shareholders can elect to receive dividends in US dollars, euros, or pounds sterling, with payments scheduled for March 28, 2022. Due to Shell’s tax residence change to the UK, dividends will not incur Dutch withholding tax, allowing full payment to shareholders. Those on the Register by February 18, 2022 will be eligible for this dividend.
Shell plc announced the purchase of 2.5 million shares on 11 March 2022 as part of its share buy-back program initiated on 3 February 2022. The shares were bought for cancellation, with the highest price at £20.2000 and the lowest at £19.4180, leading to a volume-weighted average price of £19.8188. The buy-back is managed by Citigroup Global Markets Limited, which will independently handle trading decisions until 4 May 2022. This initiative complies with the UK MAR regulations and aims to enhance shareholder value.
Shell plc announced the purchase of 2.8 million shares on 10 March 2022 as part of its share buy-back program initiated on 3 February 2022. The shares were acquired at various prices, with the highest being £20.1150 and the lowest £19.4800, resulting in a volume-weighted average price of £19.7542. Trading occurred on the LSE, BATS, and Chi-X venues. These transactions are managed by Citigroup Global Markets Limited under predetermined parameters, complying with EU MAR and UK MAR regulations.
Shell plc has submitted its Form 20-F for the fiscal year ending December 31, 2021, to the US SEC on March 10, 2022. The 2021 Form 20-F is available for download on Shell's official website and the SEC's portal. Additionally, the company released its 2021 Annual Report and Accounts on the same date, which can be downloaded in PDF format. Printed copies will be accessible from April 20, 2022, with an interactive version expected around March 17, 2022. These reports will be presented at the Annual General Meeting on May 24, 2022.
Shell plc announced the publication of its 2021 Annual Report and Accounts, available for download from March 10, 2022, at www.shell.com/annualreport. The report complies with article 9.6.1 of the Listing Rules and has been submitted to the National Storage Mechanism for inspection. Printed copies will be available from April 20, 2022. Additionally, Shell will file its Form 20-F with the US Securities and Exchange Commission today, accessible at www.shell.com/investors/financial-reporting/sec-filings.html. The Annual General Meeting is scheduled for May 24, 2022.
Shell announces significant changes in its board structure as of March 9, 2022. Non-executive Director Gerrit Zalm will not stand for re-election at the upcoming AGM after over nine years of service. The board will also see Jane Holl Lute resign from the Audit Committee, transitioning to the Safety, Environment and Sustainability Committee. Additionally, Bram Schot is appointed to the Remuneration Committee. These changes will take effect following the 2022 AGM scheduled for May 24, 2022, impacting board dynamics and committee memberships.
Shell plc announces the buyback of 1,300,000 shares at an average price of £20.1270 on 09 March 2022. Additional purchases included 675,223 shares at an average price of £20.2048, and 400,000 shares at £20.1314. These transactions are part of a broader share buy-back plan initiated on 03 February 2022, which allows Citigroup Global Markets Limited to independently manage share purchases under regulatory guidelines.
Shell plc reported on 8 March 2022, its recent share buyback activity. The company purchased 1,399,929 shares at a highest price of £20.46 and a lowest price of £19.53 on the London Stock Exchange. Additionally, it bought 900,000 shares at a highest price of £20.53 through BATS, and 400,000 shares at a highest of £20.48 on Chi-X. This repurchase is part of a previously announced buyback program set to conclude on 4 May 2022, managed by Citigroup Global Markets Limited, adhering to UK and EU market regulations.
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