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Shell PLC (SHEL)

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BullDog
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Re: Shell PLC (SHEL)

#505980

Postby BullDog » June 9th, 2022, 7:19 am

scrumpyjack wrote:It would be interesting if Shell and BP announced a decision to move their domicile elsewhere! I can't really see much justification for a UK windfall tax charge on profits made overseas, which is where most of their business is :D

Maybe I misunderstand here, but the windfall tax is levied on UK oil and gas production. At 25% in addition to the 40% rate of corporation tax levied on UK oil and gas production. A shocking 65% rate of tax in what is already one of the world's highest cost production areas. Shell don't really have much UK production any more.

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Re: Shell PLC (SHEL)

#511047

Postby idpickering » July 1st, 2022, 6:12 am

Putin’s Swoop on Key Gas Plant Could Force Foreign Partners Out.

Shell, Mitsubishi, Mitsui hold stakes in Sakhalin-2 LNG site
Decree will transfer rights in plant to a new Russian company.

President Vladimir Putin signed a decree to transfer rights to the Sakhalin-2 natural gas project to a new Russian company, a move that could force foreign owners including Shell Plc to abandon their investment in the facility.

The decree cites threats to Russia’s national interests and economic security, according to a statement dated June 30, issued by the Kremlin and signed by Putin. Stakeholders have one month to say whether they’ll take a holding in the new company, and those who opt out may not be fully compensated, the statement said.

The move could prove complicated for Shell, which holds a 27.5% stake in the liquefied natural gas facility in Russia’s far east. The energy giant announced it would exit the project after Russia invaded Ukraine, and also said it wouldn’t commit to any new investments in the country.

Chief Executive Officer Ben van Beurden said earlier this week that Shell is making progress selling its stake, which Wood Mackenzie estimates is worth $4.1 billion. China’s key state-run energy companies are in talks with Shell to buy its stake in the project, people familiar with the details said in April.

A Shell spokesperson wasn’t able to offer any immediate comment.


https://www.bloomberg.com/news/articles ... y-nhk-says

nb, Subscription required to read full item, but the above quote is more than just a gist about this imho. Maybe a RNS from Shell on this might be forthcoming this morning?

Ian.

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Re: Shell PLC (SHEL)

#511893

Postby BullDog » July 5th, 2022, 4:34 pm

Oh dear, Brent taken a tumble and Shell with it, down >8% today. Investment in Qatari LNG expansion failing to support the share price.

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Re: Shell PLC (SHEL)

#512037

Postby idpickering » July 6th, 2022, 6:57 am

Dod101 wrote:
BullDog wrote:Oh dear, Brent taken a tumble and Shell with it, down >8% today. Investment in Qatari LNG expansion failing to support the share price.


I am happy with that, cheaper Brent is surely more important than the Shell share price. Anyway I sold some Shell at £24.49 on 9 June and bought GSK at £17.46.

Dod


These short term movements in oil stock SP's don't worry to much tbh. As I've mentioned on these boards elsewhere, I doubled my holdings in both Shell and BP. when Covid19 reared its' head. Thinking longer term than just this week, I think yesterdays' fall was a great chance to buy these pair at a bargain price. FWIW Bloomberg are showing Brent crude as being up 1.5% currently.

Ian.

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Re: Shell PLC (SHEL)

#512049

Postby Dod101 » July 6th, 2022, 7:55 am

idpickering wrote:
Dod101 wrote:
BullDog wrote:Oh dear, Brent taken a tumble and Shell with it, down >8% today. Investment in Qatari LNG expansion failing to support the share price.


I am happy with that, cheaper Brent is surely more important than the Shell share price. Anyway I sold some Shell at £24.49 on 9 June and bought GSK at £17.46.

Dod


These short term movements in oil stock SP's don't worry to much tbh. As I've mentioned on these boards elsewhere, I doubled my holdings in both Shell and BP. when Covid19 reared its' head. Thinking longer term than just this week, I think yesterdays' fall was a great chance to buy these pair at a bargain price. FWIW Bloomberg are showing Brent crude as being up 1.5% currently.


I agree entirely. These movements are best ignored, especially in the current climate of so much volatility.

Dod
Last edited by tjh290633 on July 6th, 2022, 3:25 pm, edited 1 time in total.
Reason: Attribution corrected - TJH

idpickering
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Re: Shell PLC (SHEL)

#512057

Postby idpickering » July 6th, 2022, 8:28 am

Dod101 wrote:
I agree entirely. These movements are best ignored, especially in the current climate of so much volatility.

Dod


Thanks for that Dod. It's nice to know I'm in good company. As for Shell, I have a 'full holding' of them so am unlikely to buy any more despite yesterdays' drop in SP.I have no intention of selling my SHEL holdings either. In a rising market today thus far SHEL are up only a miserly 0.25% as I type FWIW.

Ian.

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Re: Shell PLC (SHEL)

#512078

Postby monabri » July 6th, 2022, 9:45 am

Dod101 wrote:
idpickering wrote:
Dod101 wrote:
I agree entirely. These movements are best ignored, especially in the current climate of so much volatility.

Dod


Thanks for that Dod. It's nice to know I'm in good company. As for Shell, I have a 'full holding' of them so am unlikely to buy any more despite yesterdays' drop in SP.I have no intention of selling my SHEL holdings either. In a rising market today thus far SHEL are up only a miserly 0.25% as I type FWIW.

Ian.


These movements are just market noise and it is ridiculous to pay much attention to them. I sold some Shell because they were and still are a big holding in relation to my other holdings and I wanted to beef up Glaxo. I looked for a candidate to release some funds and found Shell was at its highest for a long while. In fact they were close to the historic highs of around £25 as in yesteryear so they looked like a good candidate for a trim. My sale had absolutely nothing to do with Shell's prospects. I think they are a good hold at the moment notwithstanding the with holding tax or anything else.

Dood


(Picking up on the comment on (windfall : assumed) tax. )

With recent events at Downing Street I used Google to find out a little bit more about our new Chancellor.

https://en.m.wikipedia.org/wiki/Nadhim_Zahawi

In the section "Member of Parliament ", paragraph 3 was of note regarding his connections with the oil industry. I wish to make no political comment ( not the place). I personally hope that our new Chancellor will be less likely to tap the oil companies for windfall taxes...but who knows, the poacher might turn gamekeeper!

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Re: Shell PLC (SHEL)

#512139

Postby Dod101 » July 6th, 2022, 12:52 pm

Well of course it depends for how long the new Chancellor has got in his post but I cannot see anyone in that position not charging a with holding tax. It would be painless for most of the population and would be a good fund raiser.

Dod

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Re: Shell PLC (SHEL)

#512349

Postby idpickering » July 7th, 2022, 7:07 am

Shell second quarter 2022 update note.

The following is an update to the second quarter 2022 outlook. Impacts presented may vary from the actual results and are subject to finalisation of the second quarter 2022 results, published on July 28, 2022. Unless otherwise indicated, all outlook statements exclude identified items.

This update note follows the new reporting segmentation implemented at the first quarter 2022 results. For further details around the new reporting segmentation and the enhanced disclosures for our Growth businesses refer to http://www.shell.com/investors/results- ... 22/q1-2022.

Consensus collection will follow the new reporting segmentation format.

Integrated Gas
Adjusted EBITDA

Production is expected to be between 930 and 980 thousand barrels of oil equivalent per day.
LNG liquefaction volumes are expected to be between 7.4 and 8.0 million tonnes, reflecting the derecognition of Sakhalin related volumes.
Trading and optimisation results for Integrated Gas are expected to be lower compared to the first quarter 2022, which had exceptional trading optimisation opportunities.
Sakhalin results derecognition is expected to have a negative impact of $300 to $350 million.
Underlying Opex is expected to be between $1.1 and $1.3 billion.
Additionally one-off charges of around $200 million are expected including well write offs, provisions and commercial settlements.
Adjusted Earnings

Pre-tax depreciation is expected to be between $1.3 and $1.5 billion.
Taxation charge is expected to be between $1.2 and $1.5 billion.
Upstream
Adjusted EBITDA

Production is expected to be between 1,850 and 1,950 thousand barrels of oil equivalent per day, reflecting higher scheduled maintenance.
Underlying Opex is expected to be between $2.4 and $2.8 billion.
The share of profit of joint ventures and associates is expected to include a gain between $500 and $700 million relating to portfolio, storage and working gas transfer effects.
Adjusted Earnings

Pre-tax depreciation is expected to be between $2.9 and $3.3 billion.
Taxation charge is expected to be between $2.8 and $3.4 billion.


https://www.shell.com/media/news-and-me ... -note.html

Ian.

idpickering
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Re: Shell PLC (SHEL)

#517787

Postby idpickering » July 28th, 2022, 7:22 am

Q2 Results.

Chief Executive Officer, Ben van Beurden;

"With volatile energy markets and the ongoing need for action to tackle climate change, 2022 continues to present huge challenges
for consumers, governments, and companies alike. Consequently, we are using our financial strength to invest in secure energy
supplies which the world needs today, taking real, bold steps to cut carbon emissions, and transforming our company for a low-carbon
energy future.
And, crucially, our Powering Progress strategy is delivering strong results for our shareholders on the back of years of portfolio high
grading, combined with robust operational performance. We are increasing shareholder distributions through a $6 billion share
buyback programme which is expected to be completed by Q3 2022 results."
DISCIPLINE DELIVERING RESULTS: MORE CASH, MORE RESILIENCE
▪ Strong performance in a turbulent economic environment with Adjusted Earnings of $11.5 billion in Q2 2022. Adjusted
EBITDA of $23.1 billion in Q2 2022 versus $19.0 billion in Q1 2022.
▪ Announced $6 billion share buybacks are expected to be completed by Q3 2022 results; total distributions significantly in
excess of 30% of CFFO for the last four quarters. With the current energy sector outlook and subject to Board approval,
shareholder distributions are expected to remain in excess of 30% of CFFO.
▪ In the first half of 2022 shareholder distributions have doubled from those in the first half of 2013, a decade ago, when Brent
prices were similar, with increased discipline, integrated value delivery and improved resilience driving better results.
▪ Strengthening energy security through natural gas investments in Pierce and Jackdaw (UK), participation in the North Field
LNG expansion (Qatar) and Crux FID (Australia). Positioning for the future of energy with a final investment decision for
Holland Hydrogen I (Netherlands) and progressing the completion of the acquisition of Sprng Energy (India).
▪ Disciplined cash capex: expected to be in the $23 - 27 billion range in 2022.

And later;

Shareholder distributions.

Total shareholder distributions in the quarter amounted to $7.4 billion. The $8.5 billion share buyback programme for the
first half of 2022 was completed on July 5, 2022. Dividends declared to Shell plc shareholders for the second quarter
2022 amount to $0.25 per share. Today, Shell announces a share buyback programme of $6 billion which is expected to
be completed by the third quarter 2022 results announcement. With the current energy sector outlook and subject to
Board approval, shareholder distributions are expected to remain in excess of 30% of cash flow from operating activities.


https://www.shell.com/investors/results ... cument.pdf

Ian.

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Re: Shell PLC (SHEL)

#517791

Postby Dod101 » July 28th, 2022, 7:39 am

I would call these sparkling results, accompanied by a dividend which is up 21%. Greens and many others including no doubt the Labour Party will be seeking to tax away all these 'excess' profits, but Shell is accompanying the results with a lot of new investments including attempts to provide secure gas supplies. Good all round I'd say and one of the world's more responsible oil majors.

Dod

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Re: Shell PLC (SHEL)

#517820

Postby monabri » July 28th, 2022, 9:06 am

Dod101 wrote:I would call these sparkling results, accompanied by a dividend which is up 21%. Greens and many others including no doubt the Labour Party will be seeking to tax away all these 'excess' profits, but Shell is accompanying the results with a lot of new investments including attempts to provide secure gas supplies. Good all round I'd say and one of the world's more responsible oil majors.

Dod


Slightly puzzled because the dividend hasn't increased by 21% ( data in table below which appears to me to be correct).

The first page in the link from the update shows a table claiming 21% uplift half year 2021 to 2022 comparison. .

I think Shell are calculating the dividend on a " per share" basis and having bought back shares, we are seeing an increase of 21% based on a per share basis and not a 21% "pence in pocket" basis.


https://www.dividenddata.co.uk/dividend ... ?epic=SHEL

Image

Dod101
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Re: Shell PLC (SHEL)

#517830

Postby Dod101 » July 28th, 2022, 9:30 am

But if last year they paid 17.35c plus 24c which equals 41.35c and this year they are making two payments of 25c that makes 50c for the first half, all per share that is their 21% increase, is that not the case?

Dod

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Re: Shell PLC (SHEL)

#517834

Postby monabri » July 28th, 2022, 9:40 am

Dod101 wrote:But if last year they paid 17.35c plus 24c which equals 41.35c and this year they are making two payments of 25c that makes 50c for the first half, all per share that is their 21% increase, is that not the case?

Dod


Doh. It's my early morning brain fog! I think I need to go back to bed and reset my noodle! :oops:

As we were..!

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Re: Shell PLC (SHEL)

#522039

Postby idpickering » August 13th, 2022, 7:52 am

Production restored at Shell’s Mars and Ursa fields in US Gulf of Mexico.

Anglo-Dutch supermajor Shell said today that it has safely and successfully re-started production at its Mars and Ursa semi-submersible production platforms in the US Gulf of Mexico. Exports of oil and gas also resumed through the West Delta-143 “A” facility, which was shut due to damage from Hurricane Ida.

The WD-143 facilities serve as the transfer station for all production from Shell’s assets in the Mars corridor in the Mississippi Canyon area of the US Gulf to onshore crude terminals.

Production at its Olympus semi-submersible platform resumed in October after repairs to storm damage to its WD-143 offshore facilities were completed.

“When Mars and Ursa are fully ramped up, we will have 100% of Shell-operated production in the Gulf of Mexico back online, ahead of schedule from our initial estimates,” the company said.

Shell previously announced it expected production at the three facilities to resume in the first quarter of 2022.


https://www.upstreamonline.com/producti ... -1-1094842

Ian.

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Re: Shell PLC (SHEL)

#522064

Postby absolutezero » August 13th, 2022, 10:20 am

Anglo-Dutch supermajor Shell said today...

Nothing Dutch about it. :roll:

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Re: Shell PLC (SHEL)

#522075

Postby Dod101 » August 13th, 2022, 11:21 am

absolutezero wrote:
Anglo-Dutch supermajor Shell said today...

Nothing Dutch about it. :roll:


Indeed, apart from the CEO that is.

Dod

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Re: Shell PLC (SHEL)

#523528

Postby idpickering » August 18th, 2022, 4:53 pm

Shell to Move Away From Crude at Germany’s Biggest Refinery.

Royal Dutch Shell Plc announced plans to reduce oil refining capacity in Germany in order to meet its climate goals.

The Wesseling section of the giant Rheinland oil-processing complex will stop processing crude oil from 2025, Shell said in a statement. A final investment decision on the plan to build new units and convert existing plants has yet to be taken, it said.

Shell is one of Europe’s biggest emitters. The company started a green hydrogen plant at Wesseling last year and has plans to expand it. Chemicals production will continue at Wesseling in the medium term.


https://www.bnnbloomberg.ca/shell-to-mo ... 0statement.

Ian.

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Re: Shell PLC (SHEL)

#524831

Postby idpickering » August 24th, 2022, 5:51 am

Shell, unions reach deal to end strike at Prelude FLNG off Australia.

Shell and unions representing workers at its Prelude floating liquefied natural gas (FLNG) facility have reached a wage deal to end a long-running strike and restart production at the site off northwest Australia, they said on Wednesday.

Shell shut the 3.6 million-tonnes-a-year Prelude facility in July and told customers it would be unable to supply LNG for the duration of the protected industrial action, or strikes approved by Australia's Fair Work Commission, over a wage dispute.


https://www.reuters.com/business/shell- ... 022-08-24/

Ian.

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Re: Shell PLC (SHEL)

#526944

Postby idpickering » September 2nd, 2022, 7:16 am

Shell's CEO van Beurden prepares to step down next year.

Shell has shortlisted four candidates to succeed Chief Executive Ben van Beurden who is preparing to step down next year after nearly a decade at the helm of the giant energy firm, two company sources told Reuters.


https://www.marketscreener.com/business ... %20Reuters.

Ian.


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