The global liquefied natural gas (LNG) market has continued to defy expectations, growing by 29 million tonnes in 2017, according to Shell's latest LNG Outlook. Based on current demand projections, Shell sees potential for a supply shortage developing in the mid-2020s, unless new LNG production project commitments are made soon.
Royal Dutch Shell fourth quarter 2019 resultsShell plc
On Thursday January 30, 2020 at 07.00 GMT (08.00 CET and 02.00 EST) Royal Dutch Shell plc released its fourth quarter, full year results and fourth quarter interim dividend announcement for 2019.
Ben van Beurden, Chief Executive Officer of Royal Dutch Shell plc and Jessica Uhl, Chief Financial Officer of Royal Dutch Shell plc host audio webcasts of the fourth quarter 2019 results on Thursday January 30, 2020.
See https://www.shell.com/results for more information.
The global liquefied natural gas (LNG) market has continued to defy expectations, growing by 29 million tonnes in 2017, according to Shell's latest LNG Outlook. Based on current demand projections, Shell sees potential for a supply shortage developing in the mid-2020s, unless new LNG production project commitments are made soon.
Royal Dutch Shell fourth quarter 2019 resultsShell plc
On Thursday January 30, 2020 at 07.00 GMT (08.00 CET and 02.00 EST) Royal Dutch Shell plc released its fourth quarter, full year results and fourth quarter interim dividend announcement for 2019.
Ben van Beurden, Chief Executive Officer of Royal Dutch Shell plc and Jessica Uhl, Chief Financial Officer of Royal Dutch Shell plc host audio webcasts of the fourth quarter 2019 results on Thursday January 30, 2020.
See https://www.shell.com/results for more information.
Shell responsible investor briefing in London – April 16, 2018Shell plc
Ben van Beurden, Chief Executive Officer, Hans Wijers, Non-Executive Director and Chair of the Corporate and Social Responsibility Committee, Harry Brekelmans, Projects & Technology Director, Donny Ching, Legal Director, and Maarten Wetselaar, Integrated Gas & New Energies Director, presented in London during the annual responsible investors briefing.
Royal Dutch Shell plc second quarter 2020 resultsShell plc
On Thursday July 30, 2020 Royal Dutch Shell plc released its second quarter results and second interim dividend announcement for 2020.
Ben van Beurden, (CEO, Royal Dutch Shell plc) and Jessica Uhl (CFO, Royal Dutch Shell plc) hosted a teleconference and audio webcast of the second quarter 2020 results on Thursday July 30, 2020.
Royal Dutch Shell third quarter 2019 resultsShell plc
On Thursday October 31, 2019 at 07.00 GMT (08.00 CET and 03.00 EDT) Royal Dutch Shell plc released its third quarter results and third quarter interim dividend announcement for 2019.
Jessica Uhl, Chief Financial Officer of Royal Dutch Shell plc hosted a live audio webcast of the third quarter 2019 results.
The full results can be found on https://www.shell.com/results
On Thursday February 3ʳᵈ 2022 at 07:00 GMT (08:00 CET and 02:00 EST) Shell plc will release its fourth quarter results and fourth quarter interim dividend announcement for 2021.
Royal Dutch Shell plc - Enhanced disclosures webcastShell plc
On Tuesday, May 4 Tjerk Huysinga, Executive Vice President Investor Relations, Sinead Gorman, Executive Vice President Finance Upstream, Brian Eggleston, Executive Vice President Finance Downstream, Frank Lemmink, Executive Vice President Finance Integrated Gas and Renewables and Energy Solutions and Roland Ilube, Senior Vice President Finance Mobility host an enhanced quarterly disclosures webcast.
Shell responsible investor briefing in London – April 16, 2018Shell plc
Ben van Beurden, Chief Executive Officer, Hans Wijers, Non-Executive Director and Chair of the Corporate and Social Responsibility Committee, Harry Brekelmans, Projects & Technology Director, Donny Ching, Legal Director, and Maarten Wetselaar, Integrated Gas & New Energies Director, presented in London during the annual responsible investors briefing.
Royal Dutch Shell plc first quarter 2017 results analyst webcast presentationShell plc
Jessica Uhl, Chief Financial Officer of Royal Dutch Shell plc hosted a live audio webcast of the first quarter 2017 results on Thursday May 4, 2017 at 13:30 BST (14:30 CEST / 08:30 EDT).
For more information, see http://www.shell.com/results
The Shell LNG Outlook, launched in London on February 20th, is an assessment of the global liquefied natural gas (LNG) market. It finds that China and India were two of the fastest growing buyers, with the number of LNG importers worldwide up to 35, from 10 at the start of the century.
Read the Shell LNG Outlook in full at http://www.shell.com/lngoutlook
Shell gives green light to invest in LNG CanadaShell plc
Jessica Uhl, Chief Financial Officer of Royal Dutch Shell plc and Maarten Wetselaar, Integrated Gas & New Energies Director, will host a live audio webcast on Tuesday October 2, 2018 at 14:00 BST (15:00 CEST / 09:00 EDT / 06:00 PDT) about the final investment decision (FID) on LNG Canada on October 2, 2018.
Simon Henry - Société Générale in Paris - 3 December 2010Shell plc
Simon Henry, Chief Financial Officer at Royal Dutch Shell, presented an overview of the Shell group strategy at the Premium Conference of Société Générale in Paris on 3 December 2010.
Royal Dutch Shell plc first quarter 2016 results presentationsShell plc
Simon Henry, Chief Financial Officer of Royal Dutch Shell plc hosted media and analyst audio webcasts of the first quarter 2016 results on Wednesday May 4, 2016.
Royal Dutch Shell plc capital markets day 2016 Shell plc
Ben van Beurden, Chief Executive Officer of Royal Dutch Shell plc hosted a live analyst video webcast of the Capital Markets Day on Tuesday June 7, 2016, providing an update on the company’s strategy, that sets a clear course for stronger returns and free cash flow.
Royal Dutch Shell plc 2016 Management Day Shell plc
Royal Dutch Shell plc provided an update on the company during Management Day on Tuesday November 8, 2016. Ben van Beurden, Chief Executive Officer of Royal Dutch Shell plc hosted a live audio webcast of Management Day.
Socially responsible investors briefing in London, April 14, 2015Shell plc
Ben van Beurden, Chief Executive Officer and Chad Holliday, Non-Executive Director and Chairman of the Corporate and Social Responsibility Committee presented to Shell’s socially responsible investors in London during the annual socially responsible investors briefing. The event also included a short presentation on climate change.
Royal Dutch Shell plc third quarter 2016 results analyst webcast presentationShell plc
Simon Henry, Chief Financial Officer of Royal Dutch Shell plc will host a live audio webcast of the third quarter 2016 results on Tuesday November 1, 2016.
Royal Dutch Shell plc Downstream Open House webcastShell plc
John Abbott, Downstream Director of Royal Dutch Shell plc host s a live analyst video webcast of the Downstream Open House for investors on Wednesday March 21, 2018 10:30 GMT (11:30 CET / 06:30 EST).
The Downstream Open House day has been designed to:
- Gain a better understanding of the Shell Downstream business and what sets us apart
- Hear new disclosures relating to investment, growth and new revenue streams
- Find out why our Downstream business remains resilient to crude prices and economic cycles
- Engage in open and focused dialogue with the Shell Downstream Leadership Team
John Abbott will be joined by: Huibert Vigeveno, EVP Global Commercial; István Kapitány, EVP Retail; Lori Ryerkerk, EVP Manufacturing; Andrew Smith, EVP Trading & Supply; Graham van’t Hoff, EVP Chemicals; Bjorn Fermin, EVP Downstream Finance; and Gerard Penning, EVP Downstream Human Resources.
Royal Dutch Shell plc third quarter 2020 resultsShell plc
On Thursday October 29, 2020 Royal Dutch Shell plc released its third quarter results and third interim dividend announcement for 2020.
Ben van Beurden, (CEO, Royal Dutch Shell plc) and Jessica Uhl (CFO, Royal Dutch Shell plc) host a results analyst webcast of the third quarter 2020 results.
Shell responsible investor briefing in London – April 16, 2018Shell plc
Ben van Beurden, Chief Executive Officer, Hans Wijers, Non-Executive Director and Chair of the Corporate and Social Responsibility Committee, Harry Brekelmans, Projects & Technology Director, Donny Ching, Legal Director, and Maarten Wetselaar, Integrated Gas & New Energies Director, presented in London during the annual responsible investors briefing.
Royal Dutch Shell plc second quarter 2020 resultsShell plc
On Thursday July 30, 2020 Royal Dutch Shell plc released its second quarter results and second interim dividend announcement for 2020.
Ben van Beurden, (CEO, Royal Dutch Shell plc) and Jessica Uhl (CFO, Royal Dutch Shell plc) hosted a teleconference and audio webcast of the second quarter 2020 results on Thursday July 30, 2020.
Royal Dutch Shell third quarter 2019 resultsShell plc
On Thursday October 31, 2019 at 07.00 GMT (08.00 CET and 03.00 EDT) Royal Dutch Shell plc released its third quarter results and third quarter interim dividend announcement for 2019.
Jessica Uhl, Chief Financial Officer of Royal Dutch Shell plc hosted a live audio webcast of the third quarter 2019 results.
The full results can be found on https://www.shell.com/results
On Thursday February 3ʳᵈ 2022 at 07:00 GMT (08:00 CET and 02:00 EST) Shell plc will release its fourth quarter results and fourth quarter interim dividend announcement for 2021.
Royal Dutch Shell plc - Enhanced disclosures webcastShell plc
On Tuesday, May 4 Tjerk Huysinga, Executive Vice President Investor Relations, Sinead Gorman, Executive Vice President Finance Upstream, Brian Eggleston, Executive Vice President Finance Downstream, Frank Lemmink, Executive Vice President Finance Integrated Gas and Renewables and Energy Solutions and Roland Ilube, Senior Vice President Finance Mobility host an enhanced quarterly disclosures webcast.
Shell responsible investor briefing in London – April 16, 2018Shell plc
Ben van Beurden, Chief Executive Officer, Hans Wijers, Non-Executive Director and Chair of the Corporate and Social Responsibility Committee, Harry Brekelmans, Projects & Technology Director, Donny Ching, Legal Director, and Maarten Wetselaar, Integrated Gas & New Energies Director, presented in London during the annual responsible investors briefing.
Royal Dutch Shell plc first quarter 2017 results analyst webcast presentationShell plc
Jessica Uhl, Chief Financial Officer of Royal Dutch Shell plc hosted a live audio webcast of the first quarter 2017 results on Thursday May 4, 2017 at 13:30 BST (14:30 CEST / 08:30 EDT).
For more information, see http://www.shell.com/results
The Shell LNG Outlook, launched in London on February 20th, is an assessment of the global liquefied natural gas (LNG) market. It finds that China and India were two of the fastest growing buyers, with the number of LNG importers worldwide up to 35, from 10 at the start of the century.
Read the Shell LNG Outlook in full at http://www.shell.com/lngoutlook
Shell gives green light to invest in LNG CanadaShell plc
Jessica Uhl, Chief Financial Officer of Royal Dutch Shell plc and Maarten Wetselaar, Integrated Gas & New Energies Director, will host a live audio webcast on Tuesday October 2, 2018 at 14:00 BST (15:00 CEST / 09:00 EDT / 06:00 PDT) about the final investment decision (FID) on LNG Canada on October 2, 2018.
Simon Henry - Société Générale in Paris - 3 December 2010Shell plc
Simon Henry, Chief Financial Officer at Royal Dutch Shell, presented an overview of the Shell group strategy at the Premium Conference of Société Générale in Paris on 3 December 2010.
Royal Dutch Shell plc first quarter 2016 results presentationsShell plc
Simon Henry, Chief Financial Officer of Royal Dutch Shell plc hosted media and analyst audio webcasts of the first quarter 2016 results on Wednesday May 4, 2016.
Royal Dutch Shell plc capital markets day 2016 Shell plc
Ben van Beurden, Chief Executive Officer of Royal Dutch Shell plc hosted a live analyst video webcast of the Capital Markets Day on Tuesday June 7, 2016, providing an update on the company’s strategy, that sets a clear course for stronger returns and free cash flow.
Royal Dutch Shell plc 2016 Management Day Shell plc
Royal Dutch Shell plc provided an update on the company during Management Day on Tuesday November 8, 2016. Ben van Beurden, Chief Executive Officer of Royal Dutch Shell plc hosted a live audio webcast of Management Day.
Socially responsible investors briefing in London, April 14, 2015Shell plc
Ben van Beurden, Chief Executive Officer and Chad Holliday, Non-Executive Director and Chairman of the Corporate and Social Responsibility Committee presented to Shell’s socially responsible investors in London during the annual socially responsible investors briefing. The event also included a short presentation on climate change.
Royal Dutch Shell plc third quarter 2016 results analyst webcast presentationShell plc
Simon Henry, Chief Financial Officer of Royal Dutch Shell plc will host a live audio webcast of the third quarter 2016 results on Tuesday November 1, 2016.
Royal Dutch Shell plc Downstream Open House webcastShell plc
John Abbott, Downstream Director of Royal Dutch Shell plc host s a live analyst video webcast of the Downstream Open House for investors on Wednesday March 21, 2018 10:30 GMT (11:30 CET / 06:30 EST).
The Downstream Open House day has been designed to:
- Gain a better understanding of the Shell Downstream business and what sets us apart
- Hear new disclosures relating to investment, growth and new revenue streams
- Find out why our Downstream business remains resilient to crude prices and economic cycles
- Engage in open and focused dialogue with the Shell Downstream Leadership Team
John Abbott will be joined by: Huibert Vigeveno, EVP Global Commercial; István Kapitány, EVP Retail; Lori Ryerkerk, EVP Manufacturing; Andrew Smith, EVP Trading & Supply; Graham van’t Hoff, EVP Chemicals; Bjorn Fermin, EVP Downstream Finance; and Gerard Penning, EVP Downstream Human Resources.
Royal Dutch Shell plc third quarter 2020 resultsShell plc
On Thursday October 29, 2020 Royal Dutch Shell plc released its third quarter results and third interim dividend announcement for 2020.
Ben van Beurden, (CEO, Royal Dutch Shell plc) and Jessica Uhl (CFO, Royal Dutch Shell plc) host a results analyst webcast of the third quarter 2020 results.
Royal Dutch Shell plc second quarter 2016 results webcast presentationShell plc
Ben van Beurden, Chief Executive Officer of Royal Dutch Shell plc hosted a live audio webcast of the second quarter 2016 results on Thursday July 28, 2016
Shell scenarios, modelling and decision-makingShell plc
Presentation by Guy Outen (EVP Strategy and Portfolio) and Wim Thomas (Chief Energy Adviser) on September 8, 2017, providing an overview of how Shell quantifies scenarios, using its own detailed energy models, and their use in strategy setting and portfolio decision-making.
Royal Dutch Shell plc Brazil shareholder visit 2016Shell plc
On 9, 10, 11 November 2016, Shell holds a field visit for shareholders in Brazil. During the visit, shareholders attend presentations given by senior Shell representatives, which focus on Shell’s operations in Brazil.
Ben van Beurden, Chief Executive Officer of Royal Dutch Shell plc hosted a live analyst video webcast of the 2016 fourth quarter and full year results on Thursday February 2, 2017.
Ben van Beurden, Chief Executive Officer of Royal Dutch Shell plc hosts a video webcast of the fourth quarter 2014 and full year results on Thursday January 29, 2015.
See http://www.shell.com/results for more information.
Snam 2023-27 Industrial Plan - Financial Presentation
Royal Dutch Shell plc second quarter 2018 results webcast presentation
1. Royal Dutch Shell July 26, 2018
Royal Dutch Shell plc
July 26, 2018
Second quarter 2018 results
Delivering a world-class investment case
#makethefuture
2. Royal Dutch Shell July 26, 2018
Ben van Beurden
Chief Executive Officer
Royal Dutch Shell
3. Royal Dutch Shell July 26, 2018
Reserves: Our use of the term “reserves” in this presentation means SEC proved oil and gas reserves. Resources: Our use of the term “resources” in this presentation includes quantities of oil and gas not yet classified as SEC
proved oil and gas reserves. Resources are consistent with the Society of Petroleum Engineers (SPE) 2P + 2C definitions.
Operating costs are defined as underlying operating expenses, which are operating expenses less identified items. Organic free cash flow is defined as free cash flow excluding inorganic capital investment and divestment
proceeds. Clean CCS ROACE (Return on Average Capital Employed) is defined as defined as the sum of CCS earnings attributable to shareholders excluding identified items for the current and previous three quarters, as a
percentage of the average capital employed for the same period. Capital employed consists of total equity, current debt and non-current debt. Capital investment comprises capital expenditure, exploration expense excluding
well write-offs, new investments in joint ventures and associates, new finance leases and investments in Integrated Gas, Upstream and Downstream equity securities, all of which on an accruals basis. Divestments comprises
proceeds from sale of property, plant and equipment and businesses, joint ventures and associates, and other Integrated Gas, Upstream and Downstream investments, reported in “Cash flow from investing activities (CFFI)”,
adjusted onto an accruals basis and for any share consideration received or contingent consideration recognised upon divestment, as well as proceeds from the sale of interests in entities while retaining control (for example,
proceeds from sale of interest in Shell Midstream Partners, L.P.), This presentation contains the following forward-looking Non-GAAP measures: Organic Free Cash Flow, Free Cash Flow, Capital Investment, CCS Earnings
less identified items, Operating Expenses, ROACE, Capital Employed and Divestments. We are unable to provide a reconciliation of the above forward-looking Non-GAAP measures to the most comparable GAAP financial
measures because certain information needed to reconcile the above Non-GAAP measure to the most comparable GAAP financial measure is dependent on future events some which are outside the control of the company,
such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures consistent with the company accounting policies and the required precision necessary to provide a meaningful
reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure
are calculated in a manner which is consistent with the accounting policies applied in Royal Dutch Shell plc’s financial statements. The forward-looking breakeven prices (BEP) presented are calculated based on all forward-
looking costs associated from FID. Accordingly, this typically excludes exploration and appraisal costs, lease bonuses, exploration seismic and exploration team overhead costs. The forward-looking breakeven price is
calculated based on our estimate of resources volumes that are currently classified as 2p and 2c under the Society of Petroleum Engineers’ Resource Classification System. As the projects are expected to be multi-decade
producing the per barrel projection will not be reflected either in earnings or cash flow in the next five years. The financial measures provided by strategic themes represent a notional allocation of ROACE, capital employed,
capital investment, free cash flow, organic free cash flow and underlying operating expenses of Shell’s strategic themes. Shell’s segment reporting under IFRS 8 remains Integrated Gas, Upstream, Downstream and Corporate.
The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this presentation “Shell”, “Shell group” and “Royal Dutch Shell” are sometimes used for convenience where
references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Royal Dutch Shell plc and subsidiaries in general or to those who work for them.
These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this presentation refer to entities over which
Royal Dutch Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. Entities
over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell
in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.
This presentation contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Royal Dutch
Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current
expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-
looking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections
and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”, “ambition’, ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’,
‘‘objectives’’, ‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar terms and phrases. There are a number of factors that could affect the future operations of Royal
Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this presentation, including (without limitation): (a) price fluctuations in crude oil and natural gas;
(b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks
associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject
to international sanctions; (j) legislative, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political
risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; and (m)
changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this presentation are expressly qualified in
their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in
Royal Dutch Shell’s 20-F for the year ended December 31, 2017 (available at www.shell.com/investor and www.sec.gov ). These risk factors also expressly qualify all forward looking statements contained in this presentation
and should be considered by the reader. Each forward-looking statement speaks only as of the date of this presentation, July 26, 2018. Neither Royal Dutch Shell plc nor any of its subsidiaries undertake any obligation to
publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the
forward-looking statements contained in this presentation. We may have used certain terms, such as resources, in this presentation that United States Securities and Exchange Commission (SEC) strictly prohibits us from
including in our filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov
3
Definitions &
cautionary note
4. Royal Dutch Shell July 26, 2018 4
Summary
1 Divestments: headline, cash proceeds in 2016, 2017 and H1 2018: $23.8 billion (in CFFI), $2.1 billion related to Shell Midstream Partners, L.P. (in CFFF).
Key messages
Confidence in free cash flow outlook
Focus on capital discipline in line with financial framework
$30 billion divestments1 completed or announced
$25 billion share buyback programme launched
Q2 2018
Strong results, momentum continues
Portfolio reshaping and project delivery
Thrive in
the energy
transition
World-class
investment case
Strong
license
to operate
5. Royal Dutch Shell July 26, 2018
HSSE
performance Injuries – TRCF (per million working hours)
Goal Zero on safety
Million tonnes CO2e
Upstream flaring
Volume in thousand tonnes
Operational spills
Number of incidents
Process safety
HSSE priority
Performance and
transparency
million working hours #
0
300
600
900
0
1
2
2008 2010 2012 2014 2016 18H1
0
250
500
0
5
10
2008 2010 2012 2014 2016 18H1
0
5
10
15
2008 2010 2012 2014 2016 18H1
0
100
200
300
2013 2014 2015 2016 2017 18H1
Working hours (RHS)TRCF Volume of spills Number of spills (RHS)
Tier 1 incidents Tier 2 incidents
5
6. Royal Dutch Shell July 26, 2018 6
H1 2018
Financial summary
Earnings and ROACE on CCS basis, excluding identified items
10.1
18.9
Earnings ($ billion); EPS +34% versus H1 2017
Cash flow from operations ($ billion)
14.7
6.5
Free cash flow ($ billion)
ROACE (%)
23.6 Gearing (%)
Nanhi petrochemicals plant - China
7. Royal Dutch Shell July 26, 2018 7
Portfolio & projects
Recent portfolio
developments
Whale and Dover discoveries in the Gulf of Mexico
Bid rounds in Mexico and Brazil
Entry into Mauritania
FID: Gumusut Kakap Ph2, Vito, Penguins, Fram and Borssele 3/4
Start-up: Kaikias and Nanhai petrochemicals facility
Progress: Appomattox sail away and Prelude LNG import
Downstream: Argentina
Integrated Gas: Bongkot Thailand,
New Zealand, Malaysia LNG Tiga
Upstream: Norway, West Qurna
Portfolio re-shaping
(A&D)
Project delivery
Exploration success
Divestments based on headline size, announced in H1 2018.
Continue to grow &
high-grade portfolio
>100kboe/d Shell
share new FIDs
Divestments: ~$4.0 billion
First Utility
Silicon Ranch
Other
Acquisitions: ~$0.5 billion
8. Royal Dutch Shell July 26, 2018 8
Portfolio & projects
Gulf of Mexico
Leading position
Growth and
longevity
operational excellence
Project delivery
Exploration success
Whale – discovery Dover – discovery
Bid round - Mexico
Appomattox on location Kaikias start-up Vito FID
Bid round – Mexico
9. Royal Dutch Shell July 26, 2018 9
Portfolio & projects
Projects delivery
Nanhai petrochemicals expansion – start-up Prelude – progress towards start-up
Floating LNG facility offshore Australia
Final plant commissioning underway with start-up
expected in 2018
LNG production 3.6 million tonnes per annum with
1.7 million tonnes per annum natural gas liquids
Shell share 68%
New ethylene cracker and derivatives unit in China
Key component of growth and competitiveness in
chemicals strategic theme
1.2 million tonnes per annum ethylene capacity
Shell share 50%
Projects delivery
on track
10. Royal Dutch Shell July 26, 2018
0
10
20
30
40
- 5,000 10,000 15,000
Percentage of capital investment
0% 100%50%
Percentage of capital investment
10
Portfolio & projects
High-quality
Upstream
growth options
Reserves and resources as per year end 2017 excluding Groningen; Break-even price charts as per November 2017 Management Day;
Unit development costs are defined as lifecycle capital expenditure divided by total production (Shell working interest share, present value).
Billion boe
Reserves & resources
Pre-FID funnel break-even price $ per barrel
Upstream – Conventional oil & gas
Pre-FID funnel break-even price $ per barrel
Upstream – Deepwater
Permian – break-even price $ per barrel
Upstream – Shales
Since 2014: >45%
reduction in expected
unit development cost
for major projects
0
20
40
60
80
0% 50% 100%
2014 2017
0
40
20
Net risked well count
260013000
<$40 $40-50
Reserves (SEC proved)
Discovered resources
(2P+2C development pending)
Conventional
oil & gas
Deep water Shales
0
11. Royal Dutch Shell July 26, 2018 11
Cash momentum
1 Pricing assumption 2019-21: $60 per barrel real term 2016. 2 At $71 per barrel.
$ billion
Total cash flow
New projects cash
delivery on track
Confidence in 2020
free cash flow
outlook
-10
0
10
20
30
40
50
60
2015 2016 2017 18Q2
4Q rolling
2019-21
5452 44 64
Cash flow from operations (excluding working capital movements)
Average Brent oil price ($/bbl)#
Organic free cash flow
0
10
20
2018E 2020E
$ billion cash flow per annum
Project start-ups 2014 to 2020
~$10 billion
CFFO1
2018 YTD estimate2
~651 $/bbl
12. Royal Dutch Shell July 26, 2018 12
Financial framework
Capital discipline
supporting
growth
Excludes BG acquisition in 2016; historical BG capital investment is based on BG’s published Annual Report.
$ billion
Capital investment
$25-30 billion
organic & inorganic
2018: lower part of
the range
Capital investment
$ billion (p.a.) 2018-20
Oil products 4-5
Conventional
oil + gas
4-5
Integrated gas 4-5
Deep water 5-6
Chemicals 3-4
Shales 2-3
New energies 1-2
Total 25-30 0
20
40
2015 2016 2017 2018-20
avg p.a.
-$12 billion
30
25
Shell
BG
13. Royal Dutch Shell July 26, 2018
Attractive dividend key to
total shareholder return and
world-class investment case
$25 billion share buyback
by end 20201
First buyback tranche
$2 billion in Q3 2018
13
Shareholder
returns
1 Subject to further progress with debt reduction and oil price conditions.
Total shareholder return calculated on a basis of 90-day average around period start and end dates.
%
Total shareholder returns January 2016 to end June 2018
Delivering a world-
class investment case
0
25
50
75
100
Shell
14. Royal Dutch Shell July 26, 2018
Jessica Uhl
Chief Financial Officer
Royal Dutch Shell
15. Royal Dutch Shell July 26, 2018 15
Foundation of
the world-class
investment case Key features
Maximising value for shareholders through cycle
Focus on shareholder distributions
Multi-year timescales
Surplus free cash flow in up-cycle and dividends fully covered
in down-cycle
Gearing 0-30%; AA equivalent credit metrics
Thrive in
the energy
transition
World-class
investment case
Strong
license
to operate
Conservative
financial
management
FCF &
ROACE growth
16. Royal Dutch Shell July 26, 2018 16
Financial framework
Cash flow
priorities
Priorities
for cash
Debt reduction Dividends
Buybacks
& capital
investment
1 2 3
Continue to reduce gearing Cancel scrip dividend Buy back shares
Progress towards a world-class investment case
Increase shareholder distributions
17. Royal Dutch Shell July 26, 2018
%
17
Financial
summary
Earnings and ROACE on CCS basis, excluding identified items. Divestments: headline, cash proceeds in 2016, 2017 and H1 2018: $23.8 billion (in CFFI), $2.1 billion related to Shell Midstream Partners, L.P. (in CFFF).
$ billion
-5
5
15
25
-5
5
15
25
2014 2015 2016 2017 18Q2
4Q rolling
Earnings & ROACE
$ billion
Divestments
$ billion
-15
0
15
30
45
2014 2015 2016 2017 18Q2
4Q rolling
Cash flow
$ billion
Net debt & gearing
%
Upstream
ROACE (RHS)
Downstream
Integrated Gas Corporate + NCI
CFFO CFFI FCF
15
20
25
30
50
60
70
80
16Q1 16Q2 16Q3 16Q4 17Q1 17Q2 17Q3 17Q4 18Q1 18Q2
Net debt Gearing (RHS)
0
10
20
30
40
Completed Announced
or signed
In progress Total
19. Royal Dutch Shell July 26, 2018 19
Downstream
US Gulf Coast:
one year after
Motiva
Integration delivering
value
Shell terminals
Shell refineries
Deer Park: crude and
feedstock flexibility
integrated with trading
No rco
Co nvent
D eer P ark
Mo bile
Shell chemical plants
G eismar
Retail product supply:
end to end value
generation
Sewaren: integrated
operations
Mobile: retail, refining
& trading integration
Norco: hydrocracker
upgrade & integration
Convent: FCC reliability
& integration
20. Royal Dutch Shell July 26, 2018 20
Integrated Gas
LNG portfolio Million tonnes per annum (DES)
Emerging LNG Supply – Demand gap
0
100
200
300
400
500
600
2000 2005 2010 2015 2020 2025 2030 2035
LNG supply in operation
LNG supply under construction
Demand forecasts
LNG Market & outlook
LNG is the fastest-growing gas supply source
2017-18: continued supply/demand balance
Early 2020s: supply gap
Shell response
Globally balanced and resilient portfolio
Competitive pre-FID opportunities in all supply
basins
Pre-FID opportunities – LNG Canada
Attractive and differentiated position
Decision criteria:
Competitiveness
Affordability
Returns
21. Royal Dutch Shell July 26, 2018 21
Upstream
Permian
Performance
Thousand boe per day
0
50
100
150
200
250
2016 2017 18Q2 4Q
rolling
2018E 2019E 2020E
~260,000 net acres with ongoing efforts to
consolidate footprint through swaps
Strong delivery to date and more than 30%
annual production growth through 2020
Growth plans not impacted by infrastructure
bottlenecks
Free cash flow growth well into the next decade
Continue to reduce costs despite supply chain
pressure
Production growth
$ per boe
Direct field unit operating costs
Continued strong
delivery of organic
growth and improved
cost performance
+160%
+85%
0
2
4
6
8
2016 2017 2018E Ambition
-18%
22. Royal Dutch Shell July 26, 2018
Capital
employed
($ bln)
Free
cash flow
($ bln p.a)
ROACE
(%)
~70% 25-30 >10
~20% 1-2 ~5
~5% (2) - (1) ~5
25-30
>5
~290 30-35 ~10
22
Strategic themes
delivery:
on track
2019-21: 2016 RT $60 per barrel, mid-cycle Downstream; includes Deepwater in cash engines and Shales in growth priorities by 2020.
2019-21 ~$60Q2 2018 4Q rolling ~$64
Strategic
themes
Cash engines
Growth
priorities
Emerging
opportunities
Organic FCF
Divestments &
acquisitions
Total (incl.
Corporate)
Capital
employed
($ bln end 2017)
Free
cash flow
($ bln p.a)
ROACE
(%)
~60% ~10 ~10
~28% ~4 ~5
~6% ~(2) ~(4)
~13
~12
284 ~25 ~6Price sensitivity:
+/- $10 Brent =
+/- ~$6 billion CFFO
23. Royal Dutch Shell July 26, 2018
Ben van Beurden
Chief Executive Officer
Royal Dutch Shell
24. Royal Dutch Shell July 26, 2018 24
Summary
1 Divestments: headline, cash proceeds in 2016, 2017 and H1 2018: $23.8 billion (in CFFI), $2.1 billion related to Shell Midstream Partners, L.P. (in CFFF)
Key messages
Confidence in free cash flow outlook
Focus on capital discipline in line with financial framework
$30 billion divestments1 completed or announced
$25 billion share buyback programme launched
Q2 2018
Strong results, momentum continues
Portfolio reshaping and project delivery
Thrive in
the energy
transition
World-class
investment case
Strong
license
to operate
25. Royal Dutch Shell July 26, 2018 25
Questions & Answers
Ben van Beurden
Chief Executive Officer
Jessica Uhl
Chief Financial Officer
Royal Dutch Shell July 26, 2018
26. Royal Dutch Shell July 26, 2018
Q3 2018
Outlook
Q3 – Q3 OUTLOOK: Year-ago baseline reflects Shell’s earnings seasonality
Integrated gas
Production volumes: negative impact of 40-70 thousand boe/d, mainly due to divestments and higher maintenance
Liquefaction volumes: at similar level
Upstream
Production volumes: negative impact of 210-240 thousand boe/d, mainly due to divestments, field decline and higher
maintenance, partly offset by volumes from new fields
Downstream
Refinery availability to increase: given unplanned downtime events in Q3 2017, partly offset by higher planned
maintenance in Q3 2018
Chemicals availability to increase: given unplanned downtime events in Q3 2017, partly offset by higher planned
maintenance in Q3 2018
Oil products sales volumes: at similar level
2018 OUTLOOK:
Corporate segment: net charge of $400-450 million in Q3; $1.4-1.6 billion for the full year, excluding the impact of
currency exchange rate effects.
26
27. Royal Dutch Shell July 26, 2018
Q2 2018
Prices & margins $/barrel
Shell oil & gas realisations
$/barrel
Industry refining margins
$/tonne
Industry chemicals margins
0
1
2
3
4
5
6
0
20
40
60
80
17Q2 17Q3 17Q4 18Q1 18Q2
0
3
6
9
12
15
18
17Q2 17Q3 17Q4 18Q1 18Q2
0
200
400
600
800
1000
17Q2 17Q3 17Q4 18Q1 18Q2
US ethane
Western Europe naphtha
NE/SE Asia naphtha
US West Coast
US Gulf Coast coking
Rotterdam complex
Singapore
Oil
Gas (RHS)
27
$/mscf