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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 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.
On March 8, 2022, Shell plc disclosed that several Persons Discharging Managerial Responsibilities (PDMRs) received shares following the vesting of awards granted in 2019 under the Long Term Incentive Plan (LTIP). Notable recipients include CEO Ben van Beurden, who received 113,445 shares, and CFO Jessica Uhl, who received 29,134 American Depository Shares (SHEL). The transactions were executed on March 3, 2022, with no monetary price attributed, as the awards vested without a cash transaction. This disclosure aligns with the EU Market Abuse Regulation.
Shell plc announced its decision to withdraw from all Russian hydrocarbons, including crude oil and LNG, in response to government guidance. The immediate cessation of spot purchases of Russian crude oil will be followed by the shutdown of service stations and aviation fuel operations in Russia. Shell will also phase out other petroleum products and gas supplies, with CEO Ben van Beurden acknowledging the complexities of ensuring stable energy supplies while applying pressure on the Russian government due to the Ukraine crisis.
Shell plc announced the purchase of 2,750,000 shares for cancellation on 7 March 2022. The share buy-back comes as part of a previously announced arrangement on 3 February 2022. The shares were acquired at prices ranging from £18.6600 to £19.9920 across multiple trading venues, including LSE and BATS. The average price paid per share was £19.5949. The initiative is managed by Citigroup Global Markets Limited and will continue until 4 May 2022, adhering to the EU MAR and UK MAR regulations governing buy-back programs.
On 4 March 2022, Shell plc announced the purchase of 2,850,000 shares for cancellation as part of its ongoing share buy-back program. The shares were acquired at prices ranging from £18.4420 to £19.2400, with an average purchase price of £18.7051. Citigroup Global Markets Limited is managing these transactions independently until 4 May 2022, adhering to the regulations set by EU MAR and UK MAR. This buy-back initiative is consistent with the company's strategy to enhance shareholder value.
Shell plc disclosed a transaction involving Wael Sawan, the Integrated Gas, Renewables and Energy Solutions Director, who sold 40,000 ordinary shares at an average price of €24.79, totaling €991,600. The sale took place on 3 March 2022 at Euronext Amsterdam. This notification aligns with the EU and UK market abuse regulations, ensuring transparency in managerial transactions.
Shell plc announced on 3 March 2022, the purchase of 2,611,165 shares for cancellation as part of its buy-back program. The shares were acquired at prices ranging from £19.3360 to £20.7900, with a volume-weighted average price of £20.0743. This transaction falls under the share buy-back arrangement previously announced on 3 February 2022, with trading decisions managed independently by Citigroup Global Markets Limited until 4 May 2022.
Shell plc announced the purchase of 2.55 million shares on 2 March 2022 as part of its share buy-back program. The total number of shares bought comprised 1.25 million on the London Stock Exchange and 1.30 million across other venues. Prices ranged from £19.7020 to £20.6200, with a volume-weighted average price of approximately £20.42. This move aligns with the previously announced buy-back arrangement, with trading decisions handled independently by Citigroup Global Markets Limited until 4 May 2022.
Shell plc announced the purchase of 2.7 million shares for cancellation on 1 March 2022 as part of its buy-back program initiated on 3 February 2022. The shares were acquired across multiple trading venues, with the highest price per share at £19.8640 and the lowest at £19.2760. These transactions comply with regulatory frameworks, including the EU Market Abuse Regulation and the UK Market Abuse Regulation. Citigroup Global Markets Limited is managing these trades independently until 4 May 2022. The total volume-weighted average price paid was approximately £19.5974 per share.
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