2017-07-28 09:45:00

SHELL INCOME $1.55 BLN

SHELL INCOME $1.55 BLN

SHELL - Compared with the second quarter 2016, CCS earnings attributable to shareholders excluding identified items of $3.6 billion reflected higher contributions from Downstream, driven by improved operational performance and stronger chemicals and refining industry conditions. Earnings also benefited from higher contributions from Upstream and Integrated Gas which benefited from higher realised prices and increased production from new fields, offsetting the impact of reduced volumes from Pearl GTL in Qatar.

Cash flow from operating activities for the second quarter 2017 of $11.3 billion included favourable working capital movements of $2.3 billion, compared with $2.3 billion in the second quarter 2016, which included negative working capital movements of $2.5 billion.

Total dividends distributed to shareholders in the quarter were $3.9 billion, of which $0.9 billion were settled by issuing 33.9 million A shares under the Scrip Dividend Programme.

Royal Dutch Shell Chief Executive Officer Ben van Beurden commented: "Shell's strong results this quarter show that we are reshaping the company following the integration of BG.

Cash generation has been resilient over four consecutive quarters, at an average oil price of just under $50 per barrel. This quarter, we generated robust earnings excluding identified items of $3.6 billion, while over the past 12 months cash flow from operations of $38 billion has covered our cash dividend and reduced gearing to 25%.

The external price environment and energy sector developments mean we will remain very disciplined, with an absolute focus on the four levers within our control, namely capital efficiency, costs, new project delivery, and divestments.

I am confident that we are on track to deliver a world-class investment to our shareholders."

ADDITIONAL PERFORMANCE MEASURES

Quarters

$ million

 

Half year

Q2 2017

Q1 2017

Q2 2016

%1

 

Definition

2017

2016

%

6,766

4,720

6,284

 

 Capital investment2

C

11,486

65,259

 

9,472

29

1,002

 

 Divestments

D

9,501

1,487

 

3,495

3,752

3,508

-

 Total production available for sale (thousand boe/d)

 

3,622

3,584

+1

45.62

48.36

39.31

+16

 Global liquids realised price ($)

 

47.02

34.20

+37

4.22

4.29

3.21

+31

 Global natural gas realised price ($)

 

4.26

3.56

+20

9,548

9,282

11,546

-17

 Operating expenses

G

18,830

21,660

-13

9,339

9,181

9,790

-5

 Underlying operating expenses

G

18,520

19,253

-4

4.0%

4.0%

-1.4%

 

 ROACE (reported income basis)

E

4.0%

-1.4%

 

4.2%

3.3%

2.5%

 

 ROACE (CCS basis excluding identified items)

E

4.2%

2.5%

 

25.3%

27.2%

28.1%

 

 Gearing

F

25.3%

28.1%

 

1.         Q2 on Q2 change

2.         Half year 2016 included $52,904 million related to the acquisition of BG Group plc.

------

Earlier: 

SHELL INCOME $3.5 BLN 

SHELL DIVESTS CANADA $7.25 BLN 

SHELL & SAUDI AGREEMENT 

SHELL SELLS THAILAND 

SHELL STARTS IN MALAYSIA 

SHELL INVESTS IN BRAZIL $10 BLN 

SHELL PROFIT DOWN 72%

 

 

Tags: SHELL

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SHELL INCOME $1.55 BLN
August, 16, 09:45:00

OIL PRICE: NOT ABOVE $52 YET

Brent crude futures LCOc1 were at $51.02 per barrel at 0218 GMT, up 22 cents or 0.4 percent from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $47.70 a barrel, up 15 cents, or 0.3 percent.

SHELL INCOME $1.55 BLN
August, 16, 09:40:00

OIL PRICES TAKES TIME

New data suggests that in 2Q17 global stocks fell by 0.5 mb/d and preliminary data for July, particularly in the United States where stocks fell by 790 kb/d, is supportive. Even so, we must not forget that they are falling from a very great height in volume terms. At the end of 2Q17, OECD commercial stocks, which are the component of the global total for which we have the most visibility, stood at 3 021 million barrels, still more than 219 mb above the five-year average although they have now fallen below 2016 levels. As an exercise, if OECD stocks fell by 0.5 mb/d until the end of 1Q18 when the current output agreements expire they would still be about 60 mb above the five-year average.

SHELL INCOME $1.55 BLN
August, 16, 09:35:00

ЦЕНА URALS: $ 49,94

Средняя цена нефти марки Urals по итогам января - июля 2017 года составила $ 49,94 за баррель.

SHELL INCOME $1.55 BLN
August, 16, 09:30:00

OPEC: GLOBAL OIL DEMAND WILL UP TO 97.8 MBD

OPEC said world oil demand in 2018 will grow 1.28 million b/d from 2017 levels, meaning that total oil consumption is expected to hit a new record high of 97.8 million b/d in 2018.

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