Shell plc (SHEL)

deep dive analysis https://mirjanagarison.substack.com/p/why-shell-is-a-45b-fortress-that

SHEL says war damage to Qatar’s Pearl GTL plant will take one year to repair and; for investors, this production loss outweighs the robust 1Q26 profits due to the high price of oil:

https://www.wsj.com/business/energy-oil/shells-earnings-surge-but-warns-of-lower-production-due-to-middle-east-conflict-06587524 Iran’s attacks on Qatar damaged one of two units at the company’s Pearl gas-to-liquids plant that will require a year’s worth of repairs. Shipments from a liquefied natural gas facility, of which Shell owns 30% in a joint venture with Qatar Energy, have also been shut down while the strait remains largely logjammed.

…Shell has lost roughly 10% of its total production because of damaged or shutdown assets in Qatar. See #msg-61293785 for (15-year-old) background info on Pearl GTL.

Shell (SHEL) beats first-quarter earnings estimates, reduces share buyback paceMay 7, 2026 6:55 AM
IH Market News Shell (NYSE:SHEL) reported adjusted earnings of $6.92 billion for the first quarter of 2026, surpassing analyst expectations of $6.36 billion and improving from $5.58 billion recorded during the same period a year earlier.The company said stronger contributions from trading and optimization activities within its Downstream and Renewables businesses, along with higher realized prices, improved refining margins, and reduced operating expenses, helped lift profitability.Shell also announced a reduction in its quarterly share repurchase program, lowering planned buybacks to $3 billion from $3.5 billion in the previous quarter. EBITDA rises while cash flow weakens Adjusted EBITDA increased to $17.7 billion compared with $15.3 billion a year earlier.Cash flow from operations totaled $6.1 billion, impacted by an $11.2 billion working capital outflow related to commodity price fluctuations affecting inventories and receivables.Free cash flow declined to $2.9 billion from $5.3 billion in the prior-year quarter.Meanwhile, net debt rose to $52.6 billion, lifting gearing to 23.2%. Shell said the increase was partly tied to higher shipping lease expenses associated with the conflict in the Middle East. Production impacted by Middle East disruptions Shell reported a 4% decline in combined oil and gas production from the previous quarter, citing disruptions to output in Qatar linked to the Middle East conflict.Liquefied natural gas liquefaction volumes increased modestly by 1%, as production gains from LNG Canada helped offset weather-related disruptions in Australia. Second-quarter outlook reflects geopolitical pressures For the second quarter, Shell forecast integrated gas production between 580,000 and 640,000 barrels of oil equivalent per day, while upstream production is expected to range from 1.62 million to 1.82 million barrels of oil equivalent per day.The outlook “reflects impact of Middle East conflict including Qatar and higher planned maintenance across the portfolio,” the company said. More about Shell Shell is one of the world’s largest integrated energy companies, with operations spanning oil and gas exploration, production, refining, chemicals, trading, and renewable energy. The company is also a major player in the global liquefied natural gas market and has been expanding investments in low-carbon and energy transition businesses.Shell stock price Original: Shell (SHEL) beats first-quarter earnings estimates, reduces share buyback pace

U.S. futures rise as investors focus on Iran peace prospects and oil volatility: Dow Jones, S&P, Nasdaq, Wall StreetMay 7, 2026 5:32 AM
IH Market News U.S. equity futures moved modestly higher on Thursday as markets continued to react positively to signs that negotiations aimed at ending the conflict between the United States and Iran may be gaining momentum. Meanwhile, oil prices fluctuated around the $100-per-barrel mark, retreating from recent highs but remaining significantly above levels seen before the outbreak of the war. Futures point to further gains on Wall Street By 03:39 ET, futures tied to the Dow Jones Industrial Average were up 113 points, or 0.2%. S&P 500 futures gained 15 points, or 0.2%, while Nasdaq 100 futures climbed 77 points, or 0.3%.The move followed another record-setting session for U.S. equities on Wednesday, driven by reports suggesting Washington and Tehran were edging closer to an agreement that could bring an end to the conflict that has lasted for more than two months.Technology shares also supported market sentiment after strong earnings and guidance from major semiconductor and AI-related companies. Advanced Micro Devices (NASDAQ:AMD) helped lift chipmakers after indicating that demand tied to artificial intelligence remains robust. Shares in AI server specialist Super Micro Computer (NASDAQ:SMCI) surged more than 24% following upbeat quarterly revenue guidance.“[S]tocks exploded higher thanks to Iran optimism, another round of strong earnings, and additional fodder for AI bulls,” analysts at Vital Knowledge said. Reports suggest new U.S.-Iran talks could begin soon According to the Wall Street Journal, U.S. and Iranian officials have been working through mediators on a one-page framework intended to restart negotiations around a long-term peace agreement. Discussions are reportedly expected to begin next week in Pakistan.The report said a month-long diplomatic process would then attempt to address disputes surrounding Iran’s nuclear programme and possible sanctions relief, although major differences remain on issues such as uranium enrichment and international inspections.President Donald Trump said on Wednesday afternoon that the United States had effectively “won” the conflict and described recent talks with Tehran as having been “very good” over the previous 24 hours.Earlier in the day, Trump wrote on social media that the U.S. military operation against Iran, launched jointly with Israel in late February, would end if Tehran “agrees to give what has been agreed to.” He also warned that military action could resume if negotiations fail.Iranian officials have issued mixed responses. The country’s foreign minister said Tehran was reviewing the latest U.S. proposal and would communicate its position through Pakistan, which has frequently acted as an intermediary between the two sides. However, separate media reports cited an Iranian official describing the American proposal as little more than a U.S. “wish list.”CNN reported that Iran was expected to provide its formal response to mediators by Thursday. Oil remains elevated despite recent pullback Oil markets remained volatile as traders assessed whether tanker traffic through the Strait of Hormuz could eventually resume after weeks of disruption.Brent crude futures were last trading down 2% at $99.23 per barrel.Energy prices have surged since the beginning of the conflict, largely due to the effective closure of the Strait of Hormuz, which handles roughly one-fifth of global oil shipments. Although crude prices have recently eased, they remain well above pre-war levels.Higher energy costs have pushed U.S. gasoline prices above $4.50 per gallon, levels not seen since the peak of the COVID-19-era energy shock in 2022.Trump remarked that he had expected oil prices to rise even further, telling reporters he believed crude could have reached “$200, $250.”He added that even at those levels, the war with Iran would have been “worth it.” U.S. and China reportedly exploring AI discussions The Wall Street Journal also reported that Washington and Beijing are considering launching formal discussions focused on artificial intelligence.The issue could reportedly feature during a planned summit next week in Beijing between President Donald Trump and Chinese President Xi Jinping.According to the report, discussions would likely centre on risks associated with advanced AI systems, including erratic model behaviour, autonomous military technologies and AI-enabled attacks by non-state actors.U.S. Treasury Secretary Scott Bessent is expected to lead the American delegation in any talks, although China has yet to appoint its representative. Shell beats earnings expectations despite lower buybacks Shell (NYSE:SHEL) reported adjusted first-quarter 2026 earnings of $6.92 billion, surpassing analyst expectations of $6.36 billion and improving from $5.58 billion in the same period last year.The energy group said stronger trading and optimisation performance across its Downstream and Renewables divisions, improved refining margins, higher realised prices and lower operating expenses contributed to the earnings increase.Shell also reduced its quarterly share buyback programme to $3 billion, compared with $3.5 billion in the previous quarter.Adjusted EBITDA rose to $17.7 billion from $15.3 billion a year earlier. Cash flow from operations totalled $6.1 billion, affected by an $11.2 billion working capital outflow linked to inventory and receivable movements caused by commodity price fluctuations.Advanced Micro Devices stock priceSuper Micro Computer stock priceShell stock price Original: U.S. futures rise as investors focus on Iran peace prospects and oil volatility: Dow Jones, S&P, Nasdaq, Wall Street

SHEL acquires ARX.TO for $16.4B in cash+stock:

https://www.globenewswire.com/news-release/2026/04/27/3281536/0/en/Shell-announces-agreement-to-acquire-Canadian-energy-company-ARC-Resources-Ltd-ARC.html

https://www.reuters.com/legal/litigation/shell-buy-arc-resources-164-billion-deal-2026-04-27/ Shell has agreed to buy Canadian energy company ARC Resources (ARX.TO) in a $16.4 billion deal which the British oil and gas major said on Monday would boost its output by 370,000 barrels of oil equivalent per day.

ARC is Shell's biggest acquisition since it bought gas giant BG in 2016 and comes after analysts and the company had forecast it needed an acquisition or exploration breakthrough because of its ageing fields…

Energy Security in a Shifting World: Why New Supply Frontiers MatterApril 8, 2026 9:00 AM
InvestorsHub NewsWire
Energy Security in a Shifting World: Why New Supply Frontiers Matter

NetworkNewsWire Editorial Coverage: Rising geopolitical tensions and renewed disruptions to global shipping lanes, particularly around the Strait of Hormuz, are once again underscoring a hard truth for policymakers: Energy security remains deeply fragile. The United States and Europe, despite years of diversification efforts, continue to face exposure to supply shocks that can ripple across economies, industries and households. Against this backdrop, companies working to unlock new, politically stable energy resources are drawing increased attention. One such company is Greenland Energy Company (NASDAQ: GLND) (Profile), which is advancing exploration in Greenland's Jameson Land Basin. With a potentially significant oil resource and plans to drill key wells, the company is positioning itself within a broader narrative: the urgent push toward greater energy independence for Western economies. With its focus on exploration and oil production, Greenland finds itself among an impressive group of companies focused on providing energy independence, including Exxon Mobile Corporation (NYSE: XOM), Shell PLC (NYSE: SHEL), Chevron Corp. (NYSE: CVX) and BP PLC (NYSE: BP).


Greenland Energy Company's core asset lies in the Jameson Land Basin, a region that has long been recognized for its geological potential.
Large-scale oil discoveries have historically reshaped regional and even global energy markets.
One of the distinguishing features of Greenland Energy Company is its capital structure.
Greenland Energy has emphasized its executive team's background in public markets and energy investing.
The broader significance of Greenland Energy's project lies in its geopolitical positioning.


Geopolitics Reinforces Urgency of Energy Independence

Recent instability in the Middle East has renewed focus on the vulnerability of global energy supply chains. The Strait of Hormuz, through which roughly 20% of the world's oil consumption passes, remains one of the most critical chokepoints in global trade. Any disruption in this corridor has historically triggered volatility in oil prices and heightened geopolitical risk.

The importance of reducing reliance on such chokepoints has been emphasized by policymakers across both the United States and Europe. The European Commission, for example, has repeatedly emphasized the need to diversify supply sources and strengthen domestic production capacity following recent energy crises. Similarly, U.S. policy discussions have increasingly focused on reshoring or near-shoring energy supply to reduce exposure to global instability.

Data from the International Energy Agency ("IEA") highlights that while diversification has improved, global oil markets remain interconnected, meaning disruptions anywhere can affect prices everywhere. This interconnectedness reinforces the strategic value of developing new, reliable sources of supply within politically stable regions.

In this context, Greenland Energy Company's efforts to develop significant oil resources in Greenland represent part of a broader shift toward energy independence. By targeting large-scale reserves in a region aligned with Western interests, the company's activities align with the growing urgency to secure long-term, stable energy supplies.

Unlocking the Potential of Jameson Basin

Greenland Energy Company's core asset lies in the Jameson Land Basin, a region that has long been recognized for its geological potential. The basin is estimated to hold up to 13 billion barrels of oil potential, making it one of the more intriguing, underexplored basins worldwide.

The scale of this potential is significant when viewed in a global context. For comparison, discoveries exceeding one billion barrels are typically classified as "giant" fields in the oil industry, underscoring how impactful a multi-billion-barrel basin could be if successfully developed. Geological studies conducted over decades have indicated the presence of favorable source rocks, reservoir structures and trapping mechanisms within the region.

Recent corporate developments suggest that Greenland Energy is actively moving toward unlocking this potential. Last month, the company announced that it had secured drilling capacity through a strategic agreement, positioning it to advance exploration activities. This step is critical, as access to drilling infrastructure remains a key bottleneck in frontier exploration.

Importantly, the company also indicated that after drilling two targeted wells, it will secure rights to 70% of the Jameson Land Basin (two million acres), reinforcing its exposure to the basin's full resource potential. If successful, this could represent a transformational asset with implications not only for the company, but also for broader energy supply dynamics.

Scale Suggests Potential World-Class Discovery

Large-scale oil discoveries have historically reshaped regional and even global energy markets. From the North Sea to offshore Brazil, major finds have altered supply balances, created new economic hubs and reduced reliance on traditional producing regions. The Jameson Land Basin is increasingly being evaluated through this same lens.

Industry coverage has pointed to renewed interest in Greenland's hydrocarbon potential, including agreements tied to drilling and logistics partnerships. These fast-moving developments indicate that exploration momentum in the region is gaining traction with Greenland Energy drilling its first two wells this year.

The classification of a "world-class" discovery typically depends on both scale and recoverability. While exploration risk remains inherent, the estimated size of the Jameson Land Basin places it within a category that, if validated through drilling, could rank among the more significant discoveries in recent decades.

This is particularly relevant given the relative scarcity of large new onshore discoveries in stable jurisdictions. The global oil industry has faced a decline in major discoveries over the past decade, with analysis showing that annual discovered volumes have fallen sharply from early-2010s levels, while the International Energy Agency highlights the growing need for new discoveries to offset accelerating declines in existing fields. This trend has increased the strategic value of frontier basins that still hold large, untapped resources.

In that context, Greenland Energy's exploration program is not just about one project; it represents participation in a broader search for the next generation of large-scale oil supply. The outcome of its drilling efforts could therefore carry implications well beyond the company itself.

Clean Balance Sheet Supports Strategic Flexibility

One of the distinguishing features of Greenland Energy Company is its capital structure. The company looks to have limited leverage based on its recent public filings, which could provide added flexibility as it advances a capital intensive exploration program.

In an industry where exploration and development often require significant upfront investment, companies burdened with high debt levels can face constraints on operational flexibility. A debt-free structure allows management to allocate capital more strategically, particularly during early-stage exploration.

Reports surrounding the company's market positioning indicate an enterprise value in the range of approximately $200 million to $220 million, with market capitalization late-March estimates around $300 million to $345 million, suggesting a valuation that may be modest relative to the scale of the resource it is targeting. This dynamic — large potential resource versus relatively small valuation — often attracts investor attention, especially in early-stage exploration plays.

Additionally, access to strategic agreements, such as drilling capacity partnerships, indicates that the company is actively leveraging its financial position to move projects forward. The ability to secure such agreements without excessive leverage can be viewed as a positive signal in capital markets. Taken together, Greenland Energy's capital structure may provide it with the flexibility needed to advance exploration while preserving optionality for future development or partnerships.

Leadership Experience Anchors Execution Strategy

Leadership experience is often a critical factor in evaluating early-stage energy companies, particularly those operating in frontier regions. Greenland Energy has emphasized its executive team's background in public markets and energy investing.

A notable development includes the appointment of Joe Moglia, former chairman of TD Ameritrade, to a leadership role within the company. Moglia's experience in capital markets and corporate governance may provide strategic guidance as the company navigates both operational and financial milestones. The company noted that Moglia will advise on long-term strategy for Arctic development, capital markets engagement and regulatory stewardship as Greenland Energy pursues opening up a new oil basin  while citing environmental and governance priorities.

The involvement of executives with experience in scaling public companies can be particularly important for exploration firms. As projects progress from exploration to potential development, companies must manage financial, regulatory and operational milestones.

In addition to board-level expertise, the company's broader team is positioned within the oil and gas investment ecosystem. This can be advantageous when securing partnerships, raising capital or navigating industry dynamics. Ultimately, while geology determines the presence of resources, execution determines whether those resources are being  successfully developed. Greenland Energy's leadership composition suggests an awareness of this balance and an effort to align expertise with opportunity.

Strategic Importance for Western Energy Security

The broader significance of Greenland Energy's project lies in its geopolitical positioning. Greenland, as an autonomous territory within the Kingdom of Denmark, is aligned with western political and economic systems. This makes it an attractive location for resource development compared to more geopolitically volatile regions.

For the United States and Europe, securing energy supply from politically stable allies is a central component of long-term energy strategy. The European Union, for instance, has emphasized reducing reliance on external suppliers that may pose geopolitical risks.

Greenland's geographic location also offers logistical advantages. Proximity to North America and Europe could facilitate integration into existing energy infrastructure, potentially reducing transportation risks associated with distant supply routes such as the Strait of Hormuz.

From an investment perspective, Greenland Energy presents what some may view as a high-risk, high-reward opportunity tied directly to one of the most pressing global challenges: energy security. The combination of scale, location and timing positions the company within a narrative that extends beyond traditional exploration.

As the company moves forward with its planned drilling program this year, the outcome will be closely watched. Success could not only redefine the company's trajectory but also contribute to a broader shift toward energy independence for Western economies, an objective that has rarely felt more urgent.

Energy's Boldest Bets: The Frontier Rush

The world's largest energy companies are aggressively pursuing frontier exploration, the pursuit of oil and gas in remote, technically challenging and largely untested regions. This signals a powerful conviction that the next great discovery is still out there. For emerging Arctic explorers, that conviction couldn't come at a better time.

Exxon Mobile Corporation (NYSE: XOM) has a century-long Arctic presence and ongoing commitment to the North Slope. The company has explored throughout Alaska including Cook Inlet, the Alaska Peninsula, St. George Basin, Norton Sound, Navarin Basin, Yukon Flats, Beaufort Sea and the North Slope. ExxonMobil is one of the top three producers of oil and the largest holder of discovered gas resources on Alaska's North Slope.

Shell PLC (NYSE: SHEL) has stated that exploration plays a key role at the front end of the company's intent to create more value with less emissions. That exploration is focused on performance, discipline, and simplification across the business. "Our exploration programme supports Shell's target to sustain material liquids production through 2030 and grow total production including gas by around 1% per year to 2030 across our combined Upstream and Integrated Gas businesses."

Chevron Corp. (NYSE: CVX) has been awarded four offshore leases for Greece exploration blocks. The company, via its four Dutch subsidiaries and with HELLENiQ ENERGY, has signed lease agreements with the Hellenic Republic. "We look forward to working with our partners HELLENiQ ENERGY and the Hellenic Republic to evaluate the hydrocarbon potential of these frontier areas," said VP of exploration at Chevron Kevin Mclachlan. "With our expertise in developing oil and gas projects worldwide, Chevron has the resources, experience, and technology to advance and unlock new energy supplies in this frontier region."

BP PLC (NYSE: BP) has announced an oil and gas discovery at the Bumerangue prospect in the deepwater offshore Brazil, underscoring the company's push into frontier exploration. "We are excited to announce this significant discovery at Bumerangue, BP's largest in 25 years," said EVP of production and operations Gordon Birrell. According to the announcement, BP drilled an exploration well at the Bumerangue block, located in the Santos Basin,  404 kilometers from Rio de Janeiro, in a water depth of 2,372 meters; the well was drilled to a total depth of 5,855 meters. The company reports that in 2025 alone, it had 12 new discoveries, representative of the company's focus on exploration.

The message from the world's leading energy companies is clear: Frontier exploration is back, and the stakes have never been higher. For those drilling in some of the Arctic's most promising and untested basins, the industry winds are blowing in the right direction.

For more information about Greenland Energy Company, please visit the Greenland Energy Company profile.

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Original: Energy Security in a Shifting World: Why New Supply Frontiers Matter

SHEL pre-announces 1Q26 results—LNG volume declines:

https://www.reuters.com/business/energy/shell-cuts-gas-production-outlook-citing-middle-east-conflict-2026-04-08/

https://www.globenewswire.com/news-release/2026/04/08/3269813/0/en/Shell-first-quarter-2026-update-note.html

Full 1Q26 financials will be reported on 5/7/26.

Futures surge, oil tumbles after Iran ceasefire deal – what’s moving markets: Dow Jones, S&P, Nasdaq, Wall StreetApril 8, 2026 5:25 AM
IH Market News
Futures tied to the major U.S. stock indices jumped sharply after the United States and Iran reached a temporary ceasefire in their conflict, which has lasted more than a month. Tehran’s agreement to permit safe tanker traffic through the Strait of Hormuz has also eased concerns over potential global energy supply disruptions, sending crude prices sharply lower. Gold rebounded alongside a weakening U.S. dollar, while Shell (NYSE:SHEL) lowered its first-quarter gas production outlook and warned that the conflict has created ongoing uncertainty.



Futures rally



U.S. stock futures climbed strongly on Wednesday as investors welcomed the ceasefire agreement, which helped avert what could have been a costly escalation in the Middle East.As of 03:19 ET, Dow futures were up 1,076 points, or 2.3%. S&P 500 futures gained 168 points, or 2.5%, while Nasdaq 100 futures rose by 799 points, or 3.3%.Wall Street’s major indexes had been largely subdued in the previous session as investors watched nervously ahead of a U.S. deadline demanding that Iran reopen the Strait of Hormuz or face potential military action. Earlier Tuesday, U.S. President Donald Trump warned that the United States would wipe out Iran’s “civilization” if his conditions were not met, prompting debate about whether the statement was rhetorical or a serious threat.Eventually, a last-minute agreement mediated by Pakistan was reached, a development welcomed by markets. Global stocks surged and oil prices dropped, while U.S. government bonds rallied as traders revived expectations that the Federal Reserve could still lower interest rates later this year. Prior to the ceasefire, many bets on rate cuts had faded amid fears that an energy shock triggered by war could push inflation higher.Analysts at Vital Knowledge said in a note that companies benefiting from the conflict — including energy producers, commodity chemicals firms and defense contractors — “will probably suffer aggressive profit taking” after the ceasefire. In contrast, consumer discretionary stocks “should see the biggest rally.”



Focus turns to the U.S.–Iran ceasefire



Trump said in a social media post that the agreement followed discussions with leaders in Pakistan, which has recently played a mediating role between Washington and Tehran. After Pakistan urged the U.S. president to step back from his Tuesday 8 p.m. Eastern deadline, Trump agreed to pause any military strikes on Iran for two weeks.Iranian Foreign Minister Abbas Araghchi said Tehran would “cease their defensive operation” and allow “safe passage” through the Strait of Hormuz, provided shipping movements are coordinated with the Iranian military. Pakistani Prime Minister Shehbaz Sharif has invited officials from both countries to Islamabad for talks scheduled on Friday.Israel, which launched a joint offensive against Iran alongside the United States in late February, backed Trump’s decision, according to a statement from Prime Minister Benjamin Netanyahu’s office. However, the statement did not address Lebanon, where the Iran-backed group Hezbollah has been targeted by Israeli forces.While the agreement provides room for both sides to pursue a longer-term settlement, analysts at BCA Research cautioned that “[a] near-term reprieve in the Iran conflict will not erase medium-term and strategic tensions.”



Oil drops below $100 a barrel



Oil prices fell sharply following the ceasefire announcement, slipping back below the $100-per-barrel threshold, though they remain significantly above levels seen before the conflict began.By 03:44 ET, Brent crude — the global benchmark — had declined more than 13% to $94.85 per barrel, while U.S. West Texas Intermediate crude dropped 14.8% to $96.23 per barrel.Before hostilities erupted in late February, Brent had been trading around $70 per barrel. Once the conflict began, prices surged to roughly $120 per barrel at one stage, raising fears that higher energy costs could push inflation higher and slow global economic growth.A key driver of the surge was the Strait of Hormuz, the narrow shipping route off Iran’s southern coast that handles about one-fifth of global oil flows. Tehran effectively blocked the passage, severely disrupting energy shipments worldwide.Asian economies, which rely heavily on oil transported through the strait, were particularly vulnerable. Meanwhile, attacks on energy infrastructure in Persian Gulf countries also disrupted natural gas shipments to Europe. Even though the United States is a net exporter of oil, gasoline prices still climbed domestically as global crude prices increased.Analysts at ING said attention will now turn to whether tanker traffic through the Strait of Hormuz begins to recover.“[A] significant pick-up in volume would weigh further on oil prices and reverse the stagflationary investment trends witnessed in markets over the last month,” they wrote. Stagflation refers to an economic trend of persistent inflation combined with weak growth.



Gold rises as the dollar weakens



Gold prices climbed to their highest level in nearly three weeks on Wednesday as markets reassessed short-term risks following the ceasefire announcement.Spot gold rose 2.4% to $4,818.63 an ounce by 03:57 ET (07:57 GMT), after earlier reaching its highest level since March 19. U.S. gold futures for June delivery gained 3.4% to $4,843.57 an ounce.Despite gold’s traditional status as a safe-haven asset, it had struggled during much of the conflict. Surging oil prices fueled inflation concerns and strengthened expectations that the Federal Reserve might keep interest rates higher for longer — typically a negative factor for non-yielding assets such as gold.Investors instead moved into the U.S. dollar, which made gold more expensive for buyers using other currencies. However, renewed optimism about easing tensions in the Middle East weakened the dollar on Wednesday, with an index tracking the greenback against a basket of major currencies falling by more than 1%.



Shell cuts gas outlook and warns of ongoing uncertainty



Even as markets adjust to the ceasefire, some analysts warn that the economic effects of the conflict may continue for months.One example emerged Wednesday when oil major Shell (NYSE:SHEL) reduced its first-quarter gas production forecast and warned that short-term liquidity could be affected — even as trading profits from oil are expected to rise.In its quarterly trading update, the company said working capital — a measure of short-term liquidity — is now expected to fluctuate between negative $10 billion and negative $15 billion, largely due to extreme volatility in crude prices impacting inventories.Shell added that its financial outlook is “subject to increased uncertainty” because of the ongoing situation in the Middle East. Shares of the London-listed company fell by more than 6%.Shell stock price

Original: Futures surge, oil tumbles after Iran ceasefire deal – what’s moving markets: Dow Jones, S&P, Nasdaq, Wall Street

Shell sees global LNG demand climbing as much as 85% by 2050March 16, 2026 7:03 AM
IH Market News
Shell (NYSE:SHEL) said on Monday that worldwide demand for liquefied natural gas is projected to rise significantly in the coming decades, increasing from about 422 million tonnes per year in 2025 to between 610 million and 780 million tonnes annually by 2050.According to the energy group, this implies growth of roughly 45% to 85% over the next 25 years.Shell added that additional investment in LNG supply capacity will be needed during the 2030s and 2040s in order to satisfy demand even at the lower end of its long-term projections.The company noted that its current LNG facilities, along with projects under development, are positioned competitively within the lower half of the industry’s cost curve.Demand expansion through 2040 is expected to be largely driven by Asia, which Shell estimates will account for about 70% of the increase in LNG consumption.At present, LNG makes up around 14% of global natural gas supply, equivalent to just over 3% of total primary energy supply. Shell expects LNG’s share to rise to above 4% by 2040 and remain roughly at that level through 2050.Shell stock price

Original: Shell sees global LNG demand climbing as much as 85% by 2050

Shell reports lower 2025 earnings as operating cash flow declinesMarch 12, 2026 7:05 AM
IH Market News
Shell (NYSE:SHEL) reported adjusted earnings of $18.5 billion for 2025, compared with $23.7 billion recorded in the previous year.Cash flow generated from operations totaled $42.9 billion, down from $54.7 billion in 2024. Free cash flow also declined, coming in at $26.1 billion compared with $39.5 billion a year earlier.Despite the drop in cash generation, Shell continued to return substantial capital to investors. The company distributed about $22.4 billion to shareholders during the year, including $8.5 billion in dividends and $13.9 billion through share repurchases. These returns represented approximately 52% of operating cash flow, positioning payouts at the upper end of Shell’s target distribution range of 40% to 50%.Shell reported total capital expenditure of $18.9 billion in 2025, while cash capital expenditure reached $20.9 billion. The spending level remained within the company’s planned annual investment range of $20 billion to $22 billion.On the operational side, Shell produced around 2.8 million barrels of oil equivalent per day available for sale in 2025, slightly below the 2.836 million boe/d reported in 2024. LNG liquefaction volumes totaled 28 million tonnes during the year.The company also highlighted progress in lowering costs and emissions. Structural cost reductions reached $5.1 billion compared with 2022 levels, while Scope 1 and 2 emissions fell to 53 million tonnes of CO2 equivalent in 2025 from 58 million tonnes the previous year.The results came shortly after Reuters reported that Shell, the world’s largest trader of liquefied natural gas, declared force majeure on LNG cargoes sourced from QatarEnergy and delivered to global customers. The development followed Qatar’s decision to halt production at its 77 million-tonne-per-year LNG facility and issue a force majeure on shipments.Analysts estimate Shell receives about 6.8 million tonnes per annum of LNG from Qatar under supply agreements, while TotalEnergies is estimated to take approximately 5.2 mtpa, according to the report.More about ShellShell is an international energy and petrochemical company involved in upstream oil and gas production, LNG trading, refining, chemicals, and energy marketing. The company is expanding its portfolio of lower-carbon energy solutions while continuing to operate a large global oil and gas business.Shell stock price

Original: Shell reports lower 2025 earnings as operating cash flow declines

Oil surges past $100 as Middle East tensions escalate; Adobe results ahead: Dow Jones, S&P, Nasdaq, Wall Street FuturesMarch 12, 2026 6:23 AM
IH Market News
U.S. stock futures moved lower early Thursday as investors reacted to intensifying conflict in the Middle East. Oil prices again pushed above the $100-per-barrel mark after attacks on shipping near a strategic waterway south of Iran raised fears of prolonged supply disruptions. Gold prices steadied but remained pressured by inflation concerns linked to the oil surge. Meanwhile, Adobe (NASDAQ:ADBE) is scheduled to release its latest earnings, and energy giant Shell also reported results.



Futures move lower



U.S. equity futures pointed to a weaker open on Thursday after crude prices climbed back above $100 per barrel, even as governments attempted to offset disruptions caused by the war involving Iran through large releases of strategic reserves.As of 04:10 ET, futures for the Dow Jones Industrial Average were down 218 points, or 0.5%. S&P 500 futures declined 25 points, or 0.4%, while Nasdaq 100 futures fell 93 points, also down 0.4%.During Wednesday’s session, the Dow Jones Industrial Average closed at its lowest level of the year so far, reflecting concerns that the spike in oil prices could weigh on U.S. companies and consumer spending.The S&P 500 finished only slightly lower, while the technology-focused Nasdaq Composite managed to post a modest gain. Market sentiment was partly supported by stronger-than-expected results from cloud computing company Oracle, which offered an upbeat outlook for demand tied to artificial intelligence data centers. U.S. consumer inflation data for February also met expectations, although the surge in oil prices has clouded the outlook for inflation going forward.While markets remain focused primarily on the joint U.S.-Israeli assault on Iran that began more than a week ago, other issues are also influencing sentiment. These include concerns in the private credit market, continued uncertainty surrounding U.S. trade tariffs, and questions about returns from massive spending on artificial intelligence.



Oil climbs above $100



Crude prices briefly pushed back above the $100-per-barrel threshold as concerns over disrupted supply persisted while the conflict involving Iran continued to escalate across the Middle East.At 04:05 ET, global benchmark Brent crude futures were up 4.3% at $95.92 per barrel, while U.S. West Texas Intermediate crude gained 3.8% to $90.54 per barrel.Oil markets have experienced sharp swings in recent days, highlighting how sensitive traders are to developments in the conflict. Earlier in the week, Brent prices surged to nearly $120 per barrel, the highest level since 2022.The central concern for energy markets is the possibility of a disruption to shipments through the Strait of Hormuz, the narrow passage south of Iran through which roughly one-fifth of global oil and gas supply moves, much of it destined for Asia and Europe.Tanker traffic through the strait has nearly halted as the threat of Iranian attacks raises safety concerns for crews. Shipping companies have also struggled to secure insurance coverage for voyages through the region, further discouraging crossings.Iran has intensified its attacks in the area, while the U.S. Navy has declined to escort commercial vessels through the strait. At least six ships have reportedly been struck in the past day, and Bahrain said its oil facilities had also been targeted.These developments have occurred despite efforts by the International Energy Agency to calm markets through its largest-ever release of emergency oil reserves. The U.S. Energy Department also announced plans to release 172 million barrels from the country’s strategic petroleum reserve.



Gold stabilizes



Gold prices steadied after earlier losses in Asian trading as continued tensions in the U.S.-Israel conflict with Iran pushed energy prices higher and heightened concerns about inflation.Spot gold rose 0.1% to $5,178.65 per ounce by 04:54 ET, while gold futures also gained 0.1% to $5,184.75 per ounce.Bullion has continued to fluctuate within a range of roughly $5,000 to $5,200 per ounce. Analysts warn that the oil price shock could reignite inflation, potentially forcing central banks such as the Federal Reserve to reconsider expectations for near-term interest rate cuts.Such a scenario could strengthen the U.S. dollar, which typically weighs on gold by making the metal more expensive for buyers using other currencies. The dollar index was last up about 0.2%, hovering near a two-month high.



Adobe set to release earnings



Adobe (NASDAQ:ADBE) will publish its latest quarterly results after the closing bell on Thursday, with investors closely watching how the software maker is responding to growing concerns about artificial intelligence’s impact on the sector.Although AI was initially viewed as a potential growth driver for software companies, the rapid emergence of new tools has raised fears of disruption across the software-as-a-service industry. Investors are particularly concerned that advanced AI agents could reduce demand for services ranging from marketing platforms to data analytics.The S&P 500 Information Technology sector, which includes Adobe, has declined by more than 3% so far this year. This marks a sharp reversal from 2025, when the index delivered a total return of 24%.Adobe’s shares have mirrored this shift in sentiment, falling more than 18% year-to-date.Even before these concerns intensified, Adobe had been developing its own AI strategy, integrating the technology into products such as Firefly and Adobe Express. These tools allow users to generate images and videos directly within the company’s Creative Cloud platform.Efforts to monetize AI capabilities appear to be supporting the company’s outlook. Executives have forecast fiscal 2026 revenue and profit above Wall Street expectations, projecting annual revenue between $25.90 billion and $26.10 billion and earnings per share of $23.30 to $23.50.



Shell results



Energy major Shell (NYSE:SHEL) reported adjusted earnings of $18.5 billion for 2025, compared with $23.7 billion in 2024.Cash flow from operating activities totaled $42.9 billion, down from $54.7 billion in the previous year. Free cash flow reached $26.1 billion, compared with $39.5 billion in 2024.The company continued to return substantial capital to shareholders. Total distributions amounted to about $22.4 billion, including $8.5 billion in dividends and $13.9 billion in share repurchases. These payouts represented roughly 52% of operating cash flow, placing them at the upper end of Shell’s 40%–50% target distribution range.The results were released a day after Reuters reported that Shell, the world’s largest trader of liquefied natural gas, declared force majeure on LNG cargoes it purchases from QatarEnergy and sells to customers globally. The move followed Qatar’s decision to halt production at its 77-million-tonne-per-year LNG facility and declare force majeure on shipments.Analysts estimate Shell receives about 6.8 million tonnes per year of LNG from Qatar under supply agreements, while TotalEnergies is estimated to receive around 5.2 mtpa, according to the report.Adobe stock priceShell stock price

Original: Oil surges past $100 as Middle East tensions escalate; Adobe results ahead: Dow Jones, S&P, Nasdaq, Wall Street Futures

Shell appoints PwC as auditor from 2027 following EY review issuesFebruary 6, 2026 10:03 AM
IH Market News
Shell (NYSE:SHEL) said on Friday it has chosen PricewaterhouseCoopers (PwC) as its new external auditor after completing a competitive tender process, with the firm set to replace EY beginning in 2027.The decision follows an investigation launched in December by the UK’s Financial Reporting Council into EY’s audit of Shell’s 2024 financial statements. The probe is examining whether audit partner rotation requirements were breached.Shell had previously disclosed in a regulatory filing last July that rules requiring listed companies to rotate lead audit partners every five to seven years—and to observe mandatory cooling-off periods before partners can return to the same client—had not been properly followed.In the same filing, Shell said it would need to revise its 2023 and 2024 annual reports after EY was found not to be fully compliant with U.S. Securities and Exchange Commission regulations on audit partner rotation. The company stressed at the time that the amendments would not result in any changes to its reported financial figures.Shell stock price

Original: Shell appoints PwC as auditor from 2027 following EY review issues

SHEL continues aggressive buybacks despite weaker earnings:

https://www.reuters.com/business/energy/shells-fourth-quarter-profit-misses-expectations-33-billion-2026-02-05/

SHEL authorized another $3.5B buyback to be completed during the next 3 months. This is effectively a continuation of SHEL’s 2025 buyback template, which resulted in $14B of repurchases last year.

All told, SHEL has repurchased 25% of its shares outstanding during the past four years! Is this bullish or bearish? I suppose it depends on one’s view of the oil and gas market.

Shell, BP Apply for U.S. Sanctions Waivers to Advance Caribbean Gas DevelopmentsJanuary 28, 2026 10:51 AM
IH Market News
Shell (NYSE:SHEL) and BP (NYSE:BP) are pursuing approvals from the U.S. Office of Foreign Assets Control to move ahead with natural gas projects spanning Trinidad and Tobago and Venezuela, according to Trinidad’s energy minister Roodal Moonilal.Addressing delegates at the Indian Energy Week conference on Wednesday, Moonilal said Shell is seeking authorization to develop the Loran-Manatee gas discovery. The cross-border field is estimated to contain around 10 trillion cubic feet of gas, with roughly 7.3 tcf located in Venezuelan waters and about 2.7 tcf on the Trinidad side.BP, meanwhile, has submitted an application to develop the Cocuina-Manakin gas field, Moonilal said.The Venezuelan segment of Cocuina-Manakin forms part of the Plataforma Deltana offshore gas project, which is currently inactive but is estimated to hold about 1 trillion cubic feet of proven gas reserves.Shell stock priceBP stock price

Original: Shell, BP Apply for U.S. Sanctions Waivers to Advance Caribbean Gas Developments

SHEL beats 3Q25 consensus—new $3.5B buyback to_be_executed_in_next_3_months:

https://www.globenewswire.com/news-release/2025/10/30/3177081/0/en/Shell-Plc-3rd-Quarter-Results-Unaudited-Results.html

https://www.globenewswire.com/news-release/2025/10/30/3177087/0/en/Shell-announces-commencement-of-a-share-buyback-programme.html

https://finance.yahoo.com/news/shell-tops-profit-estimates-higher-112634248.html

SHEL has completed all of its recent quarterly buyback programs on schedule, so this announcement should be considered a commitment rather than a goal.

SHEL CEO re-iterates that SHEL’s own shares are a better value than buying BP or anyone else.

6-minute video with SHEL CEO:

https://finance.yahoo.com/video/shell-ceo-earnings-crude-trading-063856122.html

SHEL announces yet_another $3.5B quarterly buyback program:

https://finance.yahoo.com/news/shell-announces-commencement-share-buyback-060300841.html Shell plc (the ‘Company’) today announces the commencement of a $3.5 billion share buyback programme… It is intended that, subject to market conditions, the programme will be completed prior to the Company’s Q3 2025 results announcement. SHEL has completed all of its recent quarterly buyback programs on schedule, so this announcement is more of a commitment than a goal.

SHEL 2Q25 results:

https://finance.yahoo.com/news/shell-beats-profit-expectations-4-061257083.html

SHEL considering BP buyout, according to sources:

https://finance.yahoo.com/news/shell-plots-bid-bp-amid-130729439.html …Shell is seriously exploring how feasible and beneficial a takeover of BP would be, according to Bloomberg. It is engaging with advisers to plan out what a deal would look like. As a SHEL shareholder, I prefer that SHEL continue buying back its own shares.

SHEL reports 1Q25 results—commences $3.5B buyback_during_next_3_months:

https://finance.yahoo.com/news/shell-plc-1st-quarter-2025-060000213.html

https://finance.yahoo.com/news/shell-announces-commencement-share-buyback-060300272.html It is intended that, subject to market conditions, the programme will be completed prior to the Company’s Q2 2025 results announcement, scheduled for July 31, 2025. Unlike many companies, SHEL actually completes its buyback authorizations within the allotted time. SHEL has repurchased at least $3B of stock for 14 consecutive quarters!

The 1Q25 financial results were anticlimactic insofar as SHEL pre-announced results one month ago (#msg-176030477).

SHEL announces preliminary 1Q25 results:

https://finance.yahoo.com/news/shell-first-quarter-2025-note-060000969.html

Full 1Q25 results will be reported on 5/2/25.

More on the same story from Barron’s:

https://www.barrons.com/articles/shell-stock-strategy-lng-oil-f5f3934b Shell is planning to invest heavily in liquefied natural gas even as its oil production stays flat through 2030, the British energy company said in an investor presentation at the New York Stock Exchange on Tuesday.

Investors like the strategy. Shell shares were up 1.3% around midday, after rising as much as 2.7% earlier in the day. Most other energy stocks were flat, along with oil prices.

Shell stock has risen 15% this year, and has outperformed all the other energy giants over the past year. One analyst who had suggested that Shell try to boost its stock price by moving its listing to the U.S., where investors are more friendly to energy than Europe, said that no longer looked necessary.

Shell was the first company to export natural gas in liquefied form by ship, in 1964. Today, it is one of the largest suppliers of LNG around the world, and a particularly big player in the U.S. It expects its LNG sales to grow by 4%-5% per year through the end of the decade.

SHEL boosts guidance for cash returns at_Capital_Markets_Day:

https://finance.yahoo.com/news/shell-accelerates-strategy-deliver-more-070000399.html Today Shell announces that it will:

• Enhance shareholder distributions from 30-40% to 40-50% of cash flow from operations (CFFO) through the cycle, continuing to prioritise share buybacks while maintaining a 4% per annum progressive dividend policy.

• Increase the structural cost reduction target from $2-3 billion by the end of 2025 to a cumulative $5-7 billion by the end of 2028, compared to 2022.

• Invest for growth while maintaining capital discipline, with spend lowered to $20-22 billion per year for 2025-2028.

• Grow free cash flow3 (FCF) per share by more than 10% per year through to 2030.

• Maintain the climate targets and ambition set out in Shell’s Energy Transition Strategy 2024.

SHEL reports 4Q24 results—raises dividend—commences_another $3.5B buyback to be completed before 5/2/25 (when SHEL will report 1Q25 results):

https://finance.yahoo.com/news/shell-plc-4th-quarter-2024-070000873.html
https://finance.yahoo.com/news/shell-announces-commencement-share-buyback-070300315.html
https://finance.yahoo.com/news/shell-plc-fourth-quarter-2024-070200042.html

The new annualized dividend is $2.864/ADS (up from $2.752). At the current share price ($66.61), the new dividend rate represents a yield of 4.3%.

4Q24 results were soft, but the stock is up today. SHEL had pre-announced that 4Q24 results would be weak.

SHEL, YPF ink LNG deal_for Vaca Muerta:

https://finance.yahoo.com/news/ypf-shell-sign-agreement-develop-142133000.html Argentina's state-run oil company YPF, in collaboration with Shell, has signed a project development agreement to advance the development of the Argentina LNG project. Touted as the nation's premier LNG project, the multi-stage $50bn Argentina LNG initiative focuses on the liquefaction of gas for international export.

It involves extracting gas from specific blocks in Vaca Muerta and transporting it via dedicated pipelines. These pipelines will stretch 580km to a processing and liquefaction facility that is set to be constructed in Sierra Grande, Rio Negro, along the Atlantic coast.

...The $3bn Vaca Muerta Sur pipeline will include a loading/unloading terminal, monobuoys and storage facilities, is due to commence operations in the fourth quarter of 2026. It will initially handle 550,000 barrels per day (bpd), with the potential to scale up to 700,000bpd.

Exxon Mobil, Chevron, Shell, Total Energies, and BP will earn a combined $24.4 billion in Q3, which leaves all companies except Shell unable to cover their dividends and share buybacks with free cash flow. Bad trend...

SHEL reports 3Q24 results—maintains aggressive share buybacks:

https://finance.yahoo.com/news/shell-maintains-buybacks-gas-growth-081954779.html “Today, we announce another $3.5 billion buyback program for the next three months, making this the 12th consecutive quarter in which we have announced $3 billion or more in buybacks,” Chief Executive Officer Wael Sawan said in a statement on Thursday.

…The company’s gearing, the ratio of net debt to equity, dropped to 15.7% in the quarter, the lowest since 2015. The strength of Shell’s balance sheet gives it better visibility on shareholder distributions regardless of broader macroeconomic conditions, Chief Financial Officer Sinead Gorman said on a call with reporters. SHEL also lowered its 2024 cap-ex guidance to “less than $22B”; the prior guidance was $22-25B.

What would you like to discuss?

Only links here, no discussion? :)

SHEL—Environmental activists put North Sea project at risk:

https://finance.yahoo.com/news/stopping-north-sea-drilling-risks-134337235.html

SHEL reports_2Q24_results—starts_another $3.5B buyback to be completed by 10/31/24:

https://finance.yahoo.com/news/shell-announces-commencement-share-buyback-060300637.html

https://www.shell.com/investors/results-and-reporting/quarterly-results/latest-results.html#quarterly-results-presentation%20%20

The new buyback program is in addition to the $7B of buybacks SHEL executed during 2024 to date. Despite these buybacks, SHEL reduced its net debt by $2B during 2Q24.


2Q24 CC slides:
https://www.shell.com/investors/results-and-reporting/quarterly-results/latest-results/_jcr_content/root/main/section/simple/call_to_action_copy/links/item2.stream/1722485175909/97dd415ca93d3e812567420bd4e2c9f56cdbaeef/q2-2024-slides.pdf

SHEL reports 1Q24 results—starts_another $3.5M buyback:

https://finance.yahoo.com/news/shell-plc-1st-quarter-2024-060000060.html

The new $3.5B buyback will be completed by the time SHEL reports 2Q24 results on 8/1/24 (https://finance.yahoo.com/news/shell-announces-commencement-share-buyback-060300825.html ).

SHEL has already repurchased $3.5B of stock during 2024 to date.

SHEL pulls back on—(unrealistic)—decarbonization goals:

https://finance.yahoo.com/news/shell-oil-revises-climate-goals-220000675.html The target for 2030, which had been a 20% reduction, was lowered to 15-20% and the corporate carbon intensity target for 2035 was “retired.” LOL re the use of the word, “retired.”

SHEL’s 2040 LNG forecast shows how two publications can slant the commentary in opposite directions. First, here’s the WSJ’s take:

https://www.wsj.com/finance/commodities-futures/shell-sees-global-lng-demand-up-at-least-50-by-2040-f63aa45d Shell said it expects global demand for liquefied natural gas to grow beyond 2040, driven by industrial demand in China and economic development in South Asia and Southeast Asia.

The British oil-and-gas major said Wednesday it estimates the global demand for the gas to rise by more than 50% by 2040 as the Chinese industrial sector pivots from coal to gas, and South Asian and Southeast Asian countries use more LNG to support their economic growth. Emphasis added. Now, here’s Bloomberg’s take on the same story:

https://finance.yahoo.com/news/shell-lowers-lng-growth-outlook-084503930.html Shell Plc said demand for liquefied natural gas by 2040 will be slightly lower than previously forecast as the world prepares for life beyond fossil fuels. LOL

SHEL boosts dividend again—authorizes $3.5B buyback in_ next_3mo:

https://finance.yahoo.com/news/shell-announces-commencement-share-buyback-070300226.html

https://finance.yahoo.com/news/shell-plc-fourth-quarter-2023-070200406.html

This is SHEL’s second dividend boost in the past 12 months. The new annualized payout is $2.752/ADS (up from the prior annualized rate of $2.648 in effect during 2H23). At the current share price (~$64), the new annualized payout is a yield of 4.1%.

SHEL 3Q23 CC slides:

https://www.shell.com/investors/results-and-reporting/quarterly-results/_jcr_content/root/main/section_1564161910/simple_copy_copy_cop/list_copy_1861700816/list_item_copy_11409_233215833/links/item3.stream/1698884784858/6d26f9ea0548ac1400eab49915d70b3b9cc5e4a6/q3-2023-slides.pdf

SHEL 3Q23 PR:

https://www.shell.com/investors/results-and-reporting/quarterly-results/_jcr_content/root/main/section_1564161910/simple_copy_copy_cop/list_copy_1861700816/list_item_copy_11409_233215833/links/item0.stream/1698884782483/509b6a41bee1c016b10f6b3e317e4dac20004419/q3-2023-quarterly-press-release.pdf

SHEL says_its_own_stock_is_a_better investment than M&A; 5-minute promotional video from CFO:

SHEL reports 3Q23 results—boosts buyback authorization:

https://www.wsj.com/business/energy-oil/shell-earnings-rose-on-higher-energy-prices-launches-3-5-bln-buyback-5ca6b1a6 Shell’s third-quarter earnings rose [relative to 2Q23] on higher refining margins, oil prices and gas and oil sales… The energy giant on Thursday reported adjusted earnings of $6.22 billion for the quarter, up from $5.07 billion in the preceding quarter, but a slight miss to market expectations of $6.25 billion provided by Vara Research.

The oil-and-gas major launched a $3.5 billion share buyback to complete by its fourth-quarter results announcement, following buybacks of $3 billion during the third quarter. Shell had guided for a buyback program of at least $2.5 billion.

SHEL dials back on carbon-offsets program:

https://finance.yahoo.com/news/europes-biggest-oil-company-quietly-000104402.html

The change since the new CEO came on board in Jan 2023 is palpable.

[duplicate]

New $3B share buyback to_be_completed_by 11/1/23:

https://finance.yahoo.com/news/shell-announces-commencement-share-buyback-060300043.html

SHEL 2Q23 results…

PR:
https://www.shell.com/content/dam/shell/assets/en/business-functions/investor/results-and-reporting/documents/2023/q2/q2-2023-quarterly-press-release.pdf

CC slides:
https://www.shell.com/content/dam/shell/assets/en/business-functions/investor/results-and-reporting/documents/2023/q2/q2-2023-slides.pdf

6-minute video:
https://www.shell.com/investors/results-and-reporting/quarterly-results/latest-results.html#quarterly-results-q-a-session

SHEL slide sets from today’s webcast…

Pdf with slides only:
https://www.shell.com/content/shell/corporate/global/en_gb/investors/investor-presentations/capital-markets-day-2023/_jcr_content/root/main/section/simple/text_1695238364_copy_695577015.multi.stream/1686739511216/018241635a98a83269986e2b3fab2365078083ce/CMD23-slides.pdf

Pdf with slides and prepared remarks:
https://www.shell.com/content/shell/corporate/global/en_gb/investors/investor-presentations/capital-markets-day-2023/_jcr_content/root/main/section/simple/text_1695238364_copy_695577015.multi.stream/1686759610124/28de8452b16d6b197c9f75711276d5337bec6b46/cmd23-slides-with-prepared-remarks.pdf

SHEL boosts dividend, buybacks—cuts 2024-2025 cap-ex:

https://www.shell.com/media/news-and-media-releases/2023/shell-to-deliver-more-value-with-less-emissions.html • Shareholder distributions increased to 30-40% of cash flow from operations (CFFO) through the cycle [up from the prior range of 20-30%]

o 15% increase in dividend per share effective Q2 2023

o 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 [down from $23-27B budgeted for 2023]

• Annual operating cost structurally reduced by $2-3 billion by end 2025 Moreover, SHEL intends to increase LNG production and keep oil production flat for the rest of the decade; previously, SHEL said it would reduce oil production by 1-2% per annum.

These announcements were made in conjunction with SHEL’s Capital Markets Day webcast in New York today.

Well, final straw. I am now boycotting Shell. 1) was cleaning out my car and had quite a bit of trash that built up. Was throwing away so then I could vacuum. Some ass yelled at me to take my trash home, but I was coming from a picnic. 2) then I was going to vaccum. Cost .75 cents put in. vacuum couldn't suck the dick on a donkey let alone vacuum my car out. So, they ripped my off. How many others have been ripped off? Quite a few is my guess. NEVER AGAIN!!!

SHEL 1Q23 results—lower_oil_prices_offset_by_gains_in chemicals and trading—new $4B buyback to be completed in next three months (following full implementation of the $4B buyback announced in Feburary):

https://finance.yahoo.com/news/shell-maintains-pace-buybacks-profit-070219745.html

https://finance.yahoo.com/news/shell-plc-first-quarter-2023-060000421.html

https://finance.yahoo.com/news/shell-announces-commencement-share-buyback-060300236.html

SHEL reports record-high 2022 profit—boosts dividend—starts_$4B_accelerated_buyback (to be completed before 5/4/23):

https://finance.yahoo.com/news/shell-announces-commencement-share-buyback-070300957.html

https://finance.yahoo.com/news/shell-plc-fourth-quarter-2022-070200422.html

https://finance.yahoo.com/news/shell-announces-commencement-share-buyback-070300957.html

Approximately 60% of 4Q22 profit came from the LNG business.

The annualized dividend per ADS was boosted 15% to $2.30 (from $2.00). At the current ADS share price ($57.26), the yield is 4.0%.

Despite all of the above, SHEL is trading slightly down today because investors think SHEL’s business can’t get any better.

SHEL shakes up senior management:

https://finance.yahoo.com/news/shell-plc-announces-executive-committee-070000756.html

I doubt that this will make much, if any, difference to the bottom line.