SHELL EARNINGS $15.8 BLN
SHELL - CCS earnings attributable to shareholders excluding identified items were $4.3 billion for the fourth quarter 2017 and $15.8 billion for the full year 2017, reflecting increased contributions from all businesses, compared with 2016. Full year earnings benefited mainly from higher realised oil, gas and LNG prices, improved refining performance and higher production from new fields, which offset the impact of field declines and divestments.
Cash flow from operating activities for the fourth quarter 2017 of $7.3 billion included negative working capital movements of $1.1 billion. Excluding working capital effects, cash flow from operations was $8.4 billion. Full year 2017 cash flow from operating activities of $35.7 billion included negative working capital movements of $3.2 billion.
Total dividends distributed to shareholders in the quarter were $3.9 billion, of which $1.6 billion were settled by issuing 52.7 million A shares under the Scrip Dividend Programme. In November, Shell announced the cancellation of the Scrip Dividend Programme from the fourth quarter 2017. Shell expects to announce a dividend of $0.47 per ordinary share and $0.94 per American Depositary Share for the first quarter 2018.
Summary of unaudited results $ million
|Q4 2017||Q3 2017||Q4 2016||% 1||Definition||Full year
|3,807||4,087||1,541||+147||Income/(loss) attributable to shareholders||12,977||4,575||+184|
|3,082||3,698||1,032||+199||CCS earnings attributable to shareholders||Note 2||12,081||3,533||+242|
|(1,221)||(405)||(763)||Of which: Identified items2||A||(3,683)||(3,652)|
|4,303||4,103||1,795||+140||CCS earnings attributable to shareholders excluding identified items||15,764||7,185||+119|
|94||105||40||Add: CCS earnings attributable to non-controlling interest||418||270|
|4,397||4,208||1,835||+140||CCS earnings excluding identified items||16,182||7,455||+117|
|7,275||7,582||9,170||-21||Cash flow from operating activities||35,650||20,615||+73|
|(665)||(3,912)||(3,429)||Cash flow from investing activities||(8,029)||(30,963)|
|6,610||3,670||5,741||Free cash flow||H||27,621||(10,348)|
|0.46||0.50||0.19||+142||Basic earnings per share ($)||1.58||0.58||+172|
|0.37||0.45||0.13||+185||Basic CCS earnings per share ($)||B||1.47||0.45||+227|
|0.52||0.50||0.22||+136||Basic CCS earnings per share excl. identified items ($)||1.92||0.92||+109|
|0.47||0.47||0.47||-||Dividend per share ($)||1.88||1.88||-|
1 Q4 on Q4 change
2 Fourth quarter 2017 includes a non-cash charge of $2,014 million related to the impact of the US tax reform legislation.
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TP - With fast growing demand and expanding gas receiving capacity in Pakistan, the South Asian nation is expected to source more liquefied natural gas (LNG) from Qatar, said the country’s visiting Finance Minister Asad Umar.
REUTERS - Qatar Petroleum (QP) is looking to invest at least $20 billion in the United States over the coming few years, its chief executive told Reuters, after the Gulf Arab state unexpectedly quit OPEC this month.
U.S. FRB - U.S. industrial production rose 0.6 percent in November after moving down 0.2 percent in October; the index for October was previously reported to have edged up 0.1 percent. In November, manufacturing production was unchanged, the output of mining increased 1.7 percent, and the index for utilities gained 3.3 percent.
BHGE - U.S. Rig Count is down 4 rigs from last week to 1,071, with oil rigs down 4 to 873 and gas rigs unchanged at 198. Canada Rig Count is down 12 rigs from last week to 174, with oil rigs down 7 to 95 and gas rigs down 5 to 79.