SHELL NET INCOME $5.9 BLN

SHELL - On Thursday, April 26, 2018 at 07.00 BST (08.00 CEST and 02.00 EDT) Royal Dutch Shell plc released its first quarter results and first quarter interim dividend announcement for 2018.

Compared with the first quarter 2017, CCS earnings attributable to shareholders excluding identified items increased by $1.6 billion, mainly driven by higher contributions from Integrated Gas and Upstream, partly offset by lower earnings in Downstream.

Cash flow from operating activities for the first quarter 2018 was $9.4 billion, which included negative working capital movements of $0.9 billion, compared with $9.5 billion in the first quarter 2017, which included negative working capital movements of $1.6 billion.

Total dividends distributed to shareholders in the quarter were $4.0 billion.

Royal Dutch Shell Chief Executive Officer Ben van Beurden commented:

"Shell's strong earnings this quarter were underpinned by higher oil and gas prices, the continued growth and very good performance of our Integrated Gas business, and improved profitability in our Upstream business. Less favourable refining market conditions and lower contributions from trading impacted the earnings of our Downstream business.

We continue to upgrade our portfolio through performance improvement, new projects, divestments and the development of new businesses. Competitiveness and resilience – now and through the energy transition – are key features of our world-class investment case.

We have a strong financial framework. Our commitment to capital discipline is unchanged, we are making good progress with our $30 billion divestment programme and our outlook for free cash flow – which covered our cash dividend and interest this quarter and over the last year – is consistent with our intent to buy back at least $25 billion of our shares over the period 2018-2020."

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Earlier:

2018, April, 25, 09:35:00 SHELL SELLS ARGENTINA $0.95 BLN SHELL - Shell has signed an agreement to sell its Downstream business in Argentina to Raízen for US$0.95 billion in cash proceeds at completion, subject to customary closing conditions. The sale includes the Buenos Aires Refinery, around 645 retail stations, liquefied petroleum gas, marine fuels, aviation fuels, bitumen, chemicals and lubricants businesses, as well as supply and distribution activities in the country. Additionally, after the transaction closes, the businesses acquired by Raízen will continue their relationships with Shell through various commercial agreements, which represent an estimated value of US$0.3 billion.

2018, March, 23, 08:30:00 SHELL GROWTH AMBITIONS SHELL - Shell reiterated its expectation of $6-7 billion annual organic free cash flow from Downstream by 2020, at $60 per barrel (real terms 2016) and mid-cycle Downstream conditions, with $9-12 billion expected by 2025. The company plans to invest $7-9 billion a year across Downstream, and to deliver a return on average capital employed (ROACE) above 15%.

2018, March, 18, 11:45:00 GAZPROM - SHELL COOPERATION GAZPROM - The parties discussed the state and prospects of strategic cooperation in the gas sector. Particular attention was paid to joint efforts in the liquefied natural gas (LNG) segment, especially the construction of the third train of the LNG plant within the Sakhalin II project. Русский | English

2018, February, 27, 13:45:00 GLOBAL LNG DEMAND UP TO 293 MT SHELL - The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 million tonnes to 293 million tonnes in 2017, according to Shell’s annual LNG Outlook. Such strong growth in demand is consistent with Shell’s first LNG Outlook, published in 2017. Based on current demand projections, Shell sees potential for a supply shortage developing in mid-2020s, unless new LNG production project commitments are made soon.

2018, February, 2, 12:03:00 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.

2017, November, 29, 09:50:00 SHELL UPDATES STRATEGY SHELL - “Our next steps as we re-shape Shell into a world-class investment aim to ensure that our company can continue to thrive, not just in the short and medium term but for many decades to come,” said van Beurden. “These steps build on the foundations of Shell’s strong operational and financial performance, and my confidence in our strategy and our ability to deliver on the promises we make.”

2017, November, 7, 12:10:00 BP, SHELL, STATOIL COOPERATION Energy majors BP, Shell and Statoil are to co-develop a blockchain-based digital platform for energy trading.