Shell PLC (SHEL)

[idpickering]

Singing "We will, we will stop you," climate change activists disrupt Shell shareholders meeting; some glued themselves to seats.

Oil giant Shell was forced to temporarily suspend its annual general meeting (AGM)Tuesday when it was disrupted by climate change activists.

Proceedings at the venue in central London were halted about half an hour after they started.

"Stop kidding yourself that you are doing no harm," protesters shouted at stockholders, according to a live feed of the meeting. "Think of your children and your family. They will not escape the effects of the climate emergency."

Demonstrators sang "We will, we will stop you!" to the tune of Queen's 1977 rock anthem "We Will Rock You" before police arrived and they were ejected.

Some glued themselves to seats, The Guardian reports.

Outside, another group of protesters sang and shouted slogans such as "shame on Shell" and holding signs saying the company is "guilty of ecocide," meaning killing the environment.

AGM chairman Andrew Mackenzie apologized to delegates after trying in vain to persuade the protesters to wait for discussion of a resolution about a climate transition plan.

The activist group Money Rebellion said more than 70 people took part in the protest, which was part of a wider call for action against Shell over its climate action plan.

Money Rebellion is associated with the climate protest group Extinction Rebellion, the Reuters news agency reports.

https://www.cbsnews.com/news/climate-ch ... s-meeting/

Ian (I hold).

[idpickering]

Shell plc First Quarter 2023 Euro and GBP Equivalent Dividend Payments.

The Board of Shell plc today announced the pounds sterling and euro equivalent dividend payments in respect of the first quarter 2023 interim dividend, which was announced on May 4, 2023 at US$0.2875 per ordinary share.

Shareholders have been able to elect to receive their dividends in US dollars, euros or pounds sterling. Holders of ordinary shares who have validly submitted US dollars, euros or pounds sterling currency elections by June 5, 2023 will be entitled to a dividend of US$0.2875, €0.2678 or 22.99p per ordinary share, respectively.

Euro and pounds sterling dividends payable in cash have been converted from US dollars based on an average of market exchange rates over the three dealing days from June 7 to June 9, 2023. This dividend will be payable on June 26, 2023 to those members whose names were on the Register of Members on May 19, 2023.

https://www.investegate.co.uk/announcem ... 69145/SHEL

Ian.

[idpickering]

Shell to deliver more value with less emissions.

Enhanced focus on performance, discipline and simplification
Shareholder distributions increased to 30-40% of cash flow from operations (CFFO) through the cycle
15% increase in dividend per share effective Q2 2023*
Share buybacks of at least $5 billion for the second half of 2023*
Capital spending reduced to $22-25 billion per year for 2024 and 2025
Annual operating cost structurally reduced by $2-3 billion by end 2025
Reiterated commitment to climate targets, including net-zero e

And later;

More value

An enhanced focus on performance and stronger capital and cost discipline will underpin higher shareholder distributions of 30-40% of CFFO through the cycle, compared with 20-30% previously, through a combination of dividends and share buybacks. Shell will raise the dividend per share by an expected 15%, effective from the second quarter 2023 interim dividend, payable in September, and commence share buybacks of at least $5 billion for the second half of 2023, subject to Board approval.

https://www.investegate.co.uk/announcem ... o-/7573439

Ian.

[Dod101]

It always seems a shame when the new man comes along to sort out the business. It is almost as if the previous man was sitting twiddling his thumbs. Cutting back a bit on new investment/*capex by the looks of it and throwing more money at shareholders. Also of course getting out of retail which certainly seems sensible but I wonder if that is really the best way to go?

Dod

[Dod101]

I am surprised that no one commented on the fact that Shell are indicating an upping of their dividend by 15%. In the old days HYPers would have been all over this news, bread and butter to them but there seems to have been no comment. Is this a sign of the times, that this forum is moving away from investment topics and it is not just my imagination?

Dod

Moderator Message:
Yes, Dod, but this isn't the HYP-P board. It's Company News. -- MDW1954

[88V8]

I am surprised that no one commented on the fact that Shell are indicating an upping of their dividend by 15%. In the old days HYPers would have been all over this news, bread and butter to them but there seems to have been no comment.

Well, nice to have some good news from an oily, but given the current yield, it's a bit meh.

I suspect for many HYPers, Shell is a share we hold because it used to be good, and we hope it will be again... just not yet.

V8

[Dod101]

I am surprised that no one commented on the fact that Shell are indicating an upping of their dividend by 15%. In the old days HYPers would have been all over this news, bread and butter to them but there seems to have been no comment. Is this a sign of the times, that this forum is moving away from investment topics and it is not just my imagination?

Dod

Moderator Message:
Yes, Dod, but this isn't the HYP-P board. It's Company News. -- MDW1954

I do not think HYPers are banned from commenting here? And anyway there is no definition of a HYPer that I am aware of.

Dod

[EthicsGradient]

I am surprised that no one commented on the fact that Shell are indicating an upping of their dividend by 15%. In the old days HYPers would have been all over this news, bread and butter to them but there seems to have been no comment. Is this a sign of the times, that this forum is moving away from investment topics and it is not just my imagination?

Dod

Moderator Message:
Yes, Dod, but this isn't the HYP-P board. It's Company News. -- MDW1954

I do not think HYPers are banned from commenting here? And anyway there is no definition of a HYPer that I am aware of.

Dod

I think the idea is that the Company News forum is about company news, not the board. See viewtopic.php?p=585531#p585531

"Moderator Message:
Some discussion of a company's news is on-topic, but posts exclusively about a user's buying/selling decisions or their own portfolios is off-topic and likely be deleted without notification. Thanks - Chris"

[idpickering]

Shell second quarter 2023 update note.

The following is an update to the second quarter 2023 outlook and gives an overview of our current expectations for the second quarter. Outlooks presented may vary from the actual second quarter 2023 results and are subject to finalisation of those results, which are scheduled to be published on July 27, 2023. Unless otherwise indicated, all outlook statements exclude identified items.

https://www.investegate.co.uk/announcem ... te/7618089

Ian.

[idpickering]

Shell Is Said to Explore Stake Sale in Renewable Power Unit.

Shell Plc is exploring options for its global renewable power operations, including a potential stake sale to outside investors, people with knowledge of the matter said.

The UK energy giant is working with advisers to study a range of possibilities that could also include separating the business into a more independent unit, the people said. It’s approached a number of international investors to gauge their interest in buying a stake, according to the people, who asked not to be identified because the information is private.

https://news.bloomberglaw.com/mergers-a ... power-unit

Ian.

[Dod101]

Shell Is Said to Explore Stake Sale in Renewable Power Unit.

Shell Plc is exploring options for its global renewable power operations, including a potential stake sale to outside investors, people with knowledge of the matter said.

The UK energy giant is working with advisers to study a range of possibilities that could also include separating the business into a more independent unit, the people said. It’s approached a number of international investors to gauge their interest in buying a stake, according to the people, who asked not to be identified because the information is private.

https://news.bloomberglaw.com/mergers-a ... power-unit

Ian.

Interesting to see Shell taking a slightly different course with the change of CEO. Seldom does any harm to have a new pair of eyes .

Dod

[idpickering]

Interesting to see Shell taking a slightly different course with the change of CEO. Seldom does any harm to have a new pair of eyes .

Dod

Interesting indeed. Ta for your input. I must admit to being a bit surprised by this announcement, as I thought it was more hip nowadays for firms to enhance their "green" attributes? But this will not stop me from continuing to hold my Shell shares.

Ian.

[idpickering]

Heads up, The Shell CEO is being interviewed on Bloomberg TV (UK) at 0740hrs today.

Ian.

[idpickering]

SHELL PLC 2nd QUARTER 2023 AND HALF YEAR UNAUDITED RESULTS.

Quarter Analysis.

Income attributable to Shell plc shareholders, compared with the first quarter 2023, mainly reflected lower LNG trading and optimisation results, lower realised oil and gas prices, lower refining margins, and lower volumes.

Second quarter 2023 income attributable to Shell plc shareholders also included net impairment charges and reversals of $1.7 billion. These charges are included in identified items amounting to a net loss of $1.6 billion in the quarter. This compares with identified items in the first quarter 2023 which amounted to a net loss of $0.5 billion.

Adjusted Earnings and Adjusted EBITDA2 were driven by the same factors as income attributable to Shell plc shareholders and adjusted for the above identified items and the cost of supplies adjustment of positive $0.3 billion.

Cash flow from operating activities for the second quarter 2023 was $15.1 billion, and included a working capital inflow of $4.8 billion, and tax payments of $3.8 billion. The working capital inflow mainly reflected lower prices on inventories, initial margin inflow, a decrease in over-the-counter collateral, and other accounts receivable and payable movements.
Cash flow from investing activities for the quarter was an outflow of $3.0 billion, and included capital expenditure of $4.6 billion, net other investing cash inflows of $1.1 billion, and divestment proceeds of $0.5 billion.

Net debt and Gearing: At the end of the second quarter 2023, net debt was $40.3 billion, compared with $44.2 billion at the end of the first quarter 2023. Gearing was 17.3% at the end of the second quarter 2023, compared with 18.4% at the end of the first quarter 2023, mainly driven by net debt reduction.

Shareholder distributions

Total shareholder distributions in the quarter amounted to $5.6 billion comprising repurchases of shares of $3.6 billion and cash dividends paid to Shell plc shareholders of $2.0 billion. Dividends declared to Shell plc shareholders for the second quarter 2023 amount to $0.3310 per share. Shell has now completed the $4 billion of share buybacks announced

https://www.investegate.co.uk/announcem ... u-/7657597

Ian.

[idpickering]

Shell plc Second Quarter 2023 Interim Dividend.

The Board of Shell plc (the “Company”) today announced an interim dividend in respect of the second quarter of 2023 of US$ 0.331 per ordinary share.

The pound sterling and euro equivalent dividend payments will be announced on September 4, 2023.

https://www.investegate.co.uk/announcem ... n-/7657931

Ex div 10 Aug 23, paid 18 Sep 23.

Ian.

[idpickering]

Shell announces commencement of a share buyback programme,

Shell plc (the ‘Company’) today announces the commencement of a $3 billion share buyback programme covering an aggregate contract term of approximately three months (the ‘programme’). The purpose of the programme is to reduce the issued share capital of the Company. All shares repurchased as part of the programme will be cancelled. It is intended that, subject to market conditions, the programme will be completed prior to the Company’s Q3 2023 results announcement, scheduled for November 2, 2023.

https://www.investegate.co.uk/announcem ... a-/7657929

Ian.

[idpickering]

Shell plc Second Quarter 2023 Euro and GBP Equivalent Dividend Payments.

The Board of Shell plc today announced the pounds sterling and euro equivalent dividend payments in respect of the second quarter 2023 interim dividend, which was announced on July 27, 2023 at US$0.331 per ordinary share.

Shareholders have been able to elect to receive their dividends in US dollars, euros or pounds sterling. Holders of ordinary shares who have validly submitted US dollars, euros or pounds sterling currency elections by August 25, 2023 will be entitled to a dividend of US$0.331, €0.3046 or 26.12p per ordinary share, respectively.

Euro and pounds sterling dividends payable in cash have been converted from US dollars based on an average of market exchange rates over the three dealing days from August 30 to September 1, 2023. This dividend will be payable on September 18, 2023 to those members whose names were on the Register of Members on August 11, 2023.

https://www.investegate.co.uk/announcem ... q-/7732819

Ian (I hold).

[idpickering]

Shell third quarter 2023 update note.

The following is an update to the third quarter 2023 outlook and gives an overview of our current expectations for the third quarter. Outlooks presented may vary from the actual third quarter 2023 results and are subject to finalisation of those results, which are scheduled to be published on November 2, 2023. Unless otherwise indicated, all outlook statements exclude identified items. See appendix for previous quarter historical data.

https://www.investegate.co.uk/announcem ... te/7800152

Ian (I hold).

[idpickering]

Shell and Qatar Sign 27-Year LNG Supply Deal for Netherlands.

Shell Plc agreed to buy liquefied natural gas from Qatar for 27 years to the Netherlands, marking the Gulf nation’s second major contract to supply fossil fuel to Europe beyond 2050.Starting in 2026, QatarEnergy will deliver as much as 3.5 million tons of LNG a year to Rotterdam’s Gate import terminal for 27 years under two deals, the Middle Eastern company said in a statement on Wednesday. That comes a week after the producer signed a similar deal with France’s TotalEnergies SE.European oil majors are moving to sign some of the longest and biggest LNG supply deals as the region prepares for its second winter without the Russian pipeline gas it relied on for more than half a century. The contracts also come as the Netherlands seeks to meet a target to zero out emissions by 2050.

https://www.energyconnects.com/news/oil ... ond%202050.

Ian.

[idpickering]

Shell signs shareholder’s agreement to extend partnership for Oman LNG.

Shell Gas BV (Shell Gas), a subsidiary of Shell plc, and partners in the Oman LNG LLC venture signed an amended shareholders’ agreement for Oman LNG LLC (Oman LNG) extending the business beyond 2024.

Oman LNG in turn signed various agreements to secure its gas supply until 2034. The signing ceremony was held under the patronage of His Excellency Eng. Salim Al Aufi, Oman’s Minister of Energy and Minerals.

Under these agreements, Shell Gas will remain the largest private shareholder in Oman LNG, with a 30% shareholding, and continues its role as technical adviser.

“Shell is proud of its role as the largest private shareholder, off-taker and technical adviser in Oman LNG,” said Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director. “We believe liquefied natural gas’s (LNG) role in the energy system will continue to grow, and this milestone further demonstrates our commitment to our integrated gas business and to Oman as a key heartland to Shell.”

In addition and based on previously signed term sheets, Shell International Trading Middle East FZE will purchase up to 1.6 million tonnes per annum of LNG from Oman LNG from 2025 to 2034, making Shell the largest LNG off-taker from Oman LNG.

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

Ian (I hold Shell).