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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 early participation results for its ongoing Exchange Offers and an increase in the maximum amount of old notes that can be accepted.
By September 18, 2024, the aggregate principal amount of old notes tendered was $14.32 billion, surpassing the initial $10 billion limit, prompting Shell to raise this limit to $12 billion. This exchange aims to optimize the company's capital structure and align indebtedness with its U.S. operations.
Shell is also offering an Early Participation Premium to all holders who tender their notes by October 3, 2024. The new notes will be issued on October 8, 2024, contingent upon SEC approval of the registration statement.
The offers are managed by Deutsche Bank Securities, Goldman Sachs, and Wells Fargo Securities, with D.F. King & Co. acting as the exchange agent and information agent.
Shell plc (SHEL) announced the repurchase of 910,996 shares on the London Stock Exchange at a volume-weighted average price of £25.6057 on September 17, 2024. Additionally, 912,920 shares were bought on Euronext Amsterdam at an average price of €30.6424. These purchases are part of Shell's ongoing share buy-back programme announced on August 1, 2024, which includes both on-market and off-market transactions. Citigroup Global Markets is managing the trading decisions independently until October 25, 2024. The programme adheres to regulatory guidelines, including EU and UK Market Abuse Regulations.
Shell plc (SHEL) announced on 12 September 2024 the purchase of 867,504 shares on the London Stock Exchange at a volume-weighted average price of £25.2714 per share, and 846,295 shares on Euronext Amsterdam at €30.2120 per share. These purchases are part of the company's existing share buy-back programme announced on 1 August 2024. The programme, managed independently by Citigroup Global Markets , will run until 25 October 2024. It includes both on-market and off-market limbs, conducted in accordance with pre-set parameters and regulatory guidelines, including Chapter 12 of the Listing Rules, EU MAR, UK MAR, and the Commission Delegated Regulation (EU) 2016/1052.
Shell plc (SHEL) announced the repurchase of 1,705,873 shares on September 10, 2024, as part of its ongoing share buy-back programme. The company bought 865,088 shares on the London Stock Exchange at prices ranging from £25.0250 to £25.5300, with a volume-weighted average price of £25.3126. Additionally, 840,785 shares were purchased on Euronext Amsterdam at prices between €29.9450 and €30.6000, with a volume-weighted average price of €30.3194.
This share repurchase is part of Shell's previously announced buy-back programme from August 1, 2024. Citigroup Global Markets is managing the trading decisions independently until October 25, 2024. The programme adheres to regulatory guidelines, including EU and UK Market Abuse Regulations.
Shell plc has announced the pounds sterling and euro equivalent dividend payments for the second quarter 2024 interim dividend. The dividend, initially announced at US$0.344 per ordinary share, will be paid as follows:
- US$0.344 for those who elected US dollars
- €0.3102 for those who elected euros
- 26.15p for those who elected pounds sterling
The dividend will be payable on September 23, 2024 to shareholders on the Register of Members as of August 16, 2024. Currency conversions were based on market exchange rates from September 4 to September 6, 2024.
Shell plc (SHEL) has announced its latest share buyback activity on September 5, 2024, as part of its ongoing share repurchase program. The company bought back 842,339 shares on the London Stock Exchange at prices ranging from £25.7350 to £25.9000, with a volume-weighted average price of £25.8344. Additionally, 822,036 shares were purchased on the Amsterdam exchange at prices between €30.8650 and €31.0550, averaging €30.9835 per share.
This share buyback is part of Shell's previously announced program from August 1, 2024. Citigroup Global Markets is managing the trading decisions independently until October 25, 2024. The buyback adheres to pre-set parameters and complies with relevant regulations, including EU and UK Market Abuse Regulations.
Shell plc (NYSE: SHEL) has announced exchange offers for up to $10 billion of notes issued by Shell International Finance B.V. The offers cover 12 series of notes, to be exchanged for new notes issued by Shell Finance US Inc. and guaranteed by Shell plc. The new notes will have the same interest rates, maturity dates, and other key terms as the old notes.
Key points:
- Exchange offers aim to optimize Shell's capital structure and align debt with U.S. business
- Maximum aggregate principal amount: $10 billion
- Early participation deadline: September 18, 2024
- Expiration date: October 3, 2024
- Settlement expected on October 8, 2024
The exchange offers are subject to conditions, including SEC effectiveness of the registration statement. This announcement is not an offer to sell or solicitation of an offer to buy securities.
Shell plc (SHEL) has announced the purchase of 1,635,768 shares for cancellation on September 3, 2024, as part of its existing share buy-back programme. The purchases were made across different venues, with 825,698 shares bought on the London Stock Exchange at a volume-weighted average price of £26.3721, and 810,070 shares on XAMS at €31.6310. This initiative is part of the company's on- and off-market share repurchase program announced on August 1, 2024, which will run until October 25, 2024. Citigroup Global Markets is managing the trades independently within pre-set parameters, adhering to regulatory guidelines including EU and UK Market Abuse Regulations.
Shell plc has announced its total voting rights and capital as of August 30, 2024. The company's capital consists of 6,261,518,191 ordinary shares with a nominal value of €0.07 each. Shell plc currently holds no shares in Treasury. This figure may be used by shareholders as the denominator for calculating whether they need to notify their interest in, or a change to their interest in, Shell plc under the FCA's Disclosure Guidance and Transparency Rules.
The announcement includes shares purchased by Shell plc as part of its share buy-back programme but not yet cancelled. This disclosure is made in conformity with the Disclosure Guidance and Transparency Rules and pursuant to rules 5.6.1 and 5.6.1A.
Shell plc (SHEL) has announced the repurchase of its own shares on August 29, 2024, as part of its ongoing share buy-back programme. The company bought 802,094 shares on the London Stock Exchange at a volume-weighted average price of £27.0116 per share, and 782,469 shares on Euronext Amsterdam at €32.3920 per share. This initiative is part of Shell's previously announced share buy-back programme from August 1, 2024, which will continue until October 25, 2024. Citigroup Global Markets is managing the trading decisions independently within pre-set parameters. The programme complies with relevant market regulations and is being conducted through both on-market and off-market mechanisms.
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