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Shell PLC (SHEL)

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BullDog
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Re: Shell PLC (SHEL)

#493672

Postby BullDog » April 12th, 2022, 8:42 am

BullDog wrote:Thanks. Interesting silence about Prelude fLNG. West Australia offshore regulatory body shut it down and as far I am aware, it remains so. Huge embarrassment to Shell.

Shell has restarted LNG production at Prelude. An LNG carrier was loaded last Sunday bound for South Korea. Let's hope Prelude is putting it's long troubled history behind it at last.

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Re: Shell PLC (SHEL)

#493686

Postby Dod101 » April 12th, 2022, 9:32 am

BullDog wrote:
BullDog wrote:Thanks. Interesting silence about Prelude fLNG. West Australia offshore regulatory body shut it down and as far I am aware, it remains so. Huge embarrassment to Shell.

Shell has restarted LNG production at Prelude. An LNG carrier was loaded last Sunday bound for South Korea. Let's hope Prelude is putting it's long troubled history behind it at last.


Presumably Shell are now unembarrassed by that. It is good to hear that another source of gas has been reopened.

Dod

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Re: Shell PLC (SHEL)

#493688

Postby BullDog » April 12th, 2022, 9:49 am

Dod101 wrote:
BullDog wrote:
BullDog wrote:Thanks. Interesting silence about Prelude fLNG. West Australia offshore regulatory body shut it down and as far I am aware, it remains so. Huge embarrassment to Shell.

Shell has restarted LNG production at Prelude. An LNG carrier was loaded last Sunday bound for South Korea. Let's hope Prelude is putting it's long troubled history behind it at last.


Presumably Shell are now unembarrassed by that. It is good to hear that another source of gas has been reopened.

Dod

Remains to be seen actually. Prelude is widely regarded as a white elephant in the industry. At one time, Shell was thinking it would have a fleet of fLNG vessels. The entire fLNG venture remains something Shell would like to forget all about as far as I can see. I think the company is now simply in too deep to walk away. I think early scrappage might still be on the cards one day though. But the wounds are deep and still fresh from Prelude. Time will tell.

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Re: Shell PLC (SHEL)

#493698

Postby Dod101 » April 12th, 2022, 10:22 am

BullDog wrote:
Dod101 wrote:
BullDog wrote:
BullDog wrote:Thanks. Interesting silence about Prelude fLNG. West Australia offshore regulatory body shut it down and as far I am aware, it remains so. Huge embarrassment to Shell.

Shell has restarted LNG production at Prelude. An LNG carrier was loaded last Sunday bound for South Korea. Let's hope Prelude is putting it's long troubled history behind it at last.


Presumably Shell are now unembarrassed by that. It is good to hear that another source of gas has been reopened.

Dod

Remains to be seen actually. Prelude is widely regarded as a white elephant in the industry. At one time, Shell was thinking it would have a fleet of fLNG vessels. The entire fLNG venture remains something Shell would like to forget all about as far as I can see. I think the company is now simply in too deep to walk away. I think early scrappage might still be on the cards one day though. But the wounds are deep and still fresh from Prelude. Time will tell.


The background is reported in The Times this morning. Obviously I know nothing about it but we all need as much LNG as we can get these days.
BTW what does the 'f' signify in fLNG, except maybe floating? But it is not the LNG that is floating it is the platform, it would seem.

Dod

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Re: Shell PLC (SHEL)

#493706

Postby BullDog » April 12th, 2022, 11:04 am

Dod101 wrote:
BullDog wrote:
Dod101 wrote:
BullDog wrote:
BullDog wrote:Thanks. Interesting silence about Prelude fLNG. West Australia offshore regulatory body shut it down and as far I am aware, it remains so. Huge embarrassment to Shell.

Shell has restarted LNG production at Prelude. An LNG carrier was loaded last Sunday bound for South Korea. Let's hope Prelude is putting it's long troubled history behind it at last.


Presumably Shell are now unembarrassed by that. It is good to hear that another source of gas has been reopened.

Dod

Remains to be seen actually. Prelude is widely regarded as a white elephant in the industry. At one time, Shell was thinking it would have a fleet of fLNG vessels. The entire fLNG venture remains something Shell would like to forget all about as far as I can see. I think the company is now simply in too deep to walk away. I think early scrappage might still be on the cards one day though. But the wounds are deep and still fresh from Prelude. Time will tell.


The background is reported in The Times this morning. Obviously I know nothing about it but we all need as much LNG as we can get these days.
BTW what does the 'f' signify in fLNG, except maybe floating? But it is not the LNG that is floating it is the platform, it would seem.

Dod

Correct. Floating. In the scale of things, Prelude is not a large plant actually.

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Re: Shell PLC (SHEL)

#495356

Postby daveh » April 20th, 2022, 9:28 am

AGM & Energy transition report:
https://www.investegate.co.uk/shell-plc ... 0000H7866/

CARBON PERFORMANCE AT A GLANCE

PROGRESS SUMMARY

We are transforming into a net-zero emissions energy business. In 2021 and the beginning of 2022 we:

Reduced our Scope 1 and 2 emissions from our operations by 18%, and reduced the net carbon intensity of the energy products we sell by 2.5%, both by the end of 2021 compared with 2016.

Formed more than 50 collaborations with other leading companies aiming to be at the forefront of the energy transition. Continued to build a material power business. We had 1.6 million retail customers worldwide by the end of February 2022, compared with 900,000 at the end of 2020. We have 4.7 gigawatts (GW) of renewable generation capacity in operation, under construction and/or committed for sale. We have a further 38 GW of renewable generation capacity in our pipeline of future projects.

Expanded our hydrogen business. We have started production from 30 megawatts (MW) of electrolysers that can produce around 4,300 tonnes a year of decarbonised hydrogen. We are looking to take final investment decisions on 10 times this capacity in 2022. We own and operate 10% of global electrolyser capacity today.

Took a final investment decision on a facility in the Netherlands to produce 820,000 tonnes of biofuels a year. This facility will be one of the largest in Europe to produce sustainable aviation fuel (SAF) and renewable diesel made from waste, and is expected to start production in 2024.
Continued to build the infrastructure that our customers will need as they move to low- and zero-carbon energy.

Expanded our electric vehicle charging network to almost 90,000 charge points at the end of 2021, from around 60,000 in 2020.
Increased the number of liquefied natural gas (LNG) refuelling sites in Europe and increased the number of sites for hydrogen refuelling in Europe, North America and China.

Announced our ambition for SAF to make up at least 10% of our aviation fuel sales by 2030.

Expanded our LNG bunkering operations, including the world’s first bio-LNG bunkering, to help to reduce emissions from the marine sector. We also worked with others on programmes to develop hydrogen fuel cell propulsion for ships.
Worked with customers across sectors such as commercial, light industry and technology to decarbonise their energy use by providing renewable electricity.

Developed partnerships in the heavy industry sector to explore how hydrogen and carbon capture and storage (CCS) can be used to reduce global carbon emissions.

Invested in CCS. We have two CCS projects in operation and more than 10 under development. Retired around 6 million tonnes of nature-based credits, excluding trading activities, in 2021.

Supported climate-related government policies that advance the goal of the Paris Agreement on climate change.

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Re: Shell PLC (SHEL)

#496566

Postby BullDog » April 26th, 2022, 12:26 pm

Anyone with an interest in the Shell Prelude story could do worse than read this article from ABC in Australia. A cautionary tale of pushing the boundaries.

https://www.abc.net.au/news/2022-04-26/ ... /100950968

idpickering
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Re: Shell PLC (SHEL)

#498564

Postby idpickering » May 5th, 2022, 7:11 am

Q1 Results

Quarter Analysis
Income attributable to Shell plc shareholders, Adjusted Earnings, and Adjusted EBITDA, compared with the
fourth quarter 2021, mainly reflected higher realised prices, higher trading contributions across businesses, and lower
operating expenses and tax, partly offset by lower volumes. Cost of supplies adjustment attributable to Shell plc
shareholders for the first quarter 2022 was negative $2.1 billion.
Income attributable to Shell plc shareholders also reflected post-tax charges of $3.9 billion related to the phased
withdrawal from Russian oil and gas activities (see Note 8 to the Condensed Consolidated Interim Financial Statements).
Cash flow from operating activities for the first quarter 2022 was $14.8 billion, and reflected net favourable
derivatives movements of $2.2 billion mainly due to settlements of derivative contracts in the first quarter 2022 for which
variation margins cash outflows have taken place in 2021 as well as working capital outflows of $7.4 billion.
Cash flow from investing activities for the quarter was an outflow of $4.3 billion.
Net debt and Gearing: At the end of the first quarter 2022, net debt was $48.5 billion, compared with $52.6 billion at
the end of the fourth quarter 2021, mainly driven by free cash flow and partly offset by dividends and share buybacks.
Gearing was 21.3% at the end of the first quarter 2022, compared with 23.1% at the end of the fourth quarter 2021,
mainly driven by net debt reduction.

Shareholder distributions

Total shareholder distributions in the quarter amounted to $5.4 billion. Dividends declared to Shell plc shareholders for the
first quarter 2022 amount to $0.25 per share, an increase of ~4% over the US dollar dividend for the fourth quarter 2021.
Of the $8.5 billion share buyback programme announced for the first half of 2022, $4.0 billion has been completed as of
May 4, 2022. The remaining $4.5 billion of share buybacks pursuant to the programme are expected to be completed
prior to the announcement of the second quarter 2022 results. With the current macro outlook and subject to Board
approval, shareholder distributions for the second half of 2022 are expected to be in excess of 30% of cash flow from
operating activities


https://www.shell.com/investors/results ... cument.pdf

Ian.

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Re: Shell PLC (SHEL)

#498574

Postby Breelander » May 5th, 2022, 7:56 am

London, May 5, 2022 − The Board of Shell plc (“Shell” or the “Company”) today announced an interim dividend in respect of the first quarter of 2022 of US$ 0.25 per ordinary share.
https://www.investegate.co.uk/shell-plc ... 0200H1379/

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Re: Shell PLC (SHEL)

#498579

Postby BullDog » May 5th, 2022, 8:18 am

Thanks. Sold around a 1/3 of my overweight holding in SHEL this morning.

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Re: Shell PLC (SHEL)

#498708

Postby tjh290633 » May 5th, 2022, 5:41 pm

Odd that Investegate did not include SHEL in their list of FTSE100 companies reporting this morning. You had to search for SHEL to find it.

Maybe their software needs tweaking?

TJH

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Re: Shell PLC (SHEL)

#499812

Postby miner1000 » May 11th, 2022, 12:13 pm

idpickering wrote:Q1 Results

Quarter Analysis
Income attributable to Shell plc shareholders, Adjusted Earnings, and Adjusted EBITDA, compared with the
fourth quarter 2021, mainly reflected higher realised prices, higher trading contributions across businesses, and lower
operating expenses and tax, partly offset by lower volumes. Cost of supplies adjustment attributable to Shell plc
shareholders for the first quarter 2022 was negative $2.1 billion.
Income attributable to Shell plc shareholders also reflected post-tax charges of $3.9 billion related to the phased
withdrawal from Russian oil and gas activities (see Note 8 to the Condensed Consolidated Interim Financial Statements).
Cash flow from operating activities for the first quarter 2022 was $14.8 billion, and reflected net favourable
derivatives movements of $2.2 billion mainly due to settlements of derivative contracts in the first quarter 2022 for which
variation margins cash outflows have taken place in 2021 as well as working capital outflows of $7.4 billion.
Cash flow from investing activities for the quarter was an outflow of $4.3 billion.
Net debt and Gearing: At the end of the first quarter 2022, net debt was $48.5 billion, compared with $52.6 billion at
the end of the fourth quarter 2021, mainly driven by free cash flow and partly offset by dividends and share buybacks.
Gearing was 21.3% at the end of the first quarter 2022, compared with 23.1% at the end of the fourth quarter 2021,
mainly driven by net debt reduction.

Shareholder distributions

Total shareholder distributions in the quarter amounted to $5.4 billion. Dividends declared to Shell plc shareholders for the
first quarter 2022 amount to $0.25 per share, an increase of ~4% over the US dollar dividend for the fourth quarter 2021.
Of the $8.5 billion share buyback programme announced for the first half of 2022, $4.0 billion has been completed as of
May 4, 2022. The remaining $4.5 billion of share buybacks pursuant to the programme are expected to be completed
prior to the announcement of the second quarter 2022 results. With the current macro outlook and subject to Board
approval, shareholder distributions for the second half of 2022 are expected to be in excess of 30% of cash flow from
operating activities


https://www.shell.com/investors/results ... cument.pdf

Ian.


Very clever wording that last bit. "shareholder distributions for the second half of 2022 are expected to be in excess of 30% of cash flow from operating activities". Excuse my french but that would be a sh*t load of money, whether it be buy backs or dividends.

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Re: Shell PLC (SHEL)

#502116

Postby Fluke » May 22nd, 2022, 12:42 pm

The talk of a windfall tax on the big oil companies is escalating this weekend, any thoughts on what impact it might have on share prices/dividends if it were to be applied? I don't remember the government commiserating with shareholders when the oil price plummeted in March 2020 followed swiftly by the share price, wiping $billions off the value of said companies.

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Re: Shell PLC (SHEL)

#502141

Postby monabri » May 22nd, 2022, 2:33 pm

In the Telegraph it mentions that "Brandon Lewis, the Northern Ireland Secretary, and Sajid Javid, the Health Secretary, became the fifth and sixth Cabinet members to speak out against the policy in the space of a week" (i.e. they are against a windfall tax). In addition Kwasi Kwarteng (Business Secretary) described a windfall tax as “taxing investment in jobs” and Liz Truss, Suella Braverman and Jacob Rees-Mogg were also critical of the idea.

Boris is also not in favour of a tax along with Lord Lamont. However, the Telegraph mentions "voter research" conducted in Whitehall, with 80% favouring a windfall tax (well, if you asked the average person on the street...)

https://www.telegraph.co.uk/politics/20 ... ct-policy/




Another article (with a bit of "industrial" language from one MP!)

“The writing is on the wall," complained one frustrated backbencher elected in 2019. "I really don’t know why we are doing this (expletive deleted) dance."

https://www.politicshome.com/news/artic ... ing-crisis

Like most things, if it happens it happens.....how much will it affect the price might depend on the windfall tax value being imposed. I leave it to the management team at Shell to handle the situation.

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Re: Shell PLC (SHEL)

#502234

Postby Fluke » May 23rd, 2022, 8:58 am

monabri wrote:
Like most things, if it happens it happens.....how much will it affect the price might depend on the windfall tax value being imposed. I leave it to the management team at Shell to handle the situation.


Well whatever happens the market doesn't seem too perturbed, the price is slightly up from its start this morning at 2372p

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Re: Shell PLC (SHEL)

#502523

Postby idpickering » May 24th, 2022, 4:39 pm

Shell Calls Police as AGM Disrupted by Environmental Protesters.

Shell Plc called the police to its annual general meeting in London after environmental protesters disrupted the gathering with chants of “Shell must fall.”
Chairman Andrew MacKenzie asked protesters to take their seats in order to discuss environmental concerns later on in the meeting.

But police were called to start removing protesters after they refused to let the meeting proceed. MacKenzie later said it might take a few hours to remove all the activists; shareholders were moved to another room.

In an emailed statement, the protest group Extinction Rebellion said that more than 80 people disrupted the event held at the venue in Westminster. Protesters interrupted the chairman’s address, and others glued themselves to chairs while activists from the UK, the Netherlands and Nigeria read out testimonies accusing Shell of fueling climate breakdown.

Shareholders are due to vote on two climate resolutions, one by activist group Follow This, and another advisory vote on the progress of its own environmental strategy.

Ahead of the meeting, one group said the energy giant isn’t abiding by a landmark court order requiring it to cut emissions by 45% by 2030.

Milieudefensie, the Dutch arm of Friends of the Earth, said Shell’s plans around customer-related emissions — which make up the bulk of its pollution — aren’t in line with last year’s judgment.


https://energynow.com/2022/05/shell-cal ... %20meeting.

Ian.

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Re: Shell PLC (SHEL)

#502549

Postby 88V8 » May 24th, 2022, 7:51 pm

idpickering wrote:Shell Calls Police as AGM Disrupted by Environmental Protesters.
Shell Plc called the police to its annual general meeting in London after environmental protesters disrupted the gathering with chants of “Shell must fall.”

I'd love to see these clowns do without oil and oil products for two weeks.
Cycling everywhere... on bikes greased with horse fat... dressed only in natural fibres, eating only organic foods bought direct from the producer or delivered by donkey, no trainers, no plastic wrappings, no electricity or gas or oil heating, no televisions, no LPs... they can have 78s, those were made of powdered slate... no plastic windows in their homes, no credit cards..
And oh, what would they do without their phones.... Pah.

V8

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Re: Shell PLC (SHEL)

#504261

Postby idpickering » June 1st, 2022, 4:43 pm

Russia cuts off gas supply to Shell as millions of Britons to feel Putin's energy wrath.

The energy crisis could be set to worsen as Russia has cut off the gas supply to major customers, which includes UK-based Shell.


https://www.express.co.uk/news/science/ ... utin-wrath

Ian.

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Re: Shell PLC (SHEL)

#504272

Postby idpickering » June 1st, 2022, 5:28 pm

UK government approves Shell North Sea gas project.

British business minister Kwasi Kwarteng said on Wednesday Shell (LON:RDSa)'s North Sea Jackdaw gas field had received final regulatory approval.

"Let's source more of the gas we need from British waters to protect energy security," Kwarteng said on Twitter (NYSE:TWTR).


https://uk.investing.com/news/commoditi ... %20project

Ian.

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Re: Shell PLC (SHEL)

#505945

Postby scrumpyjack » June 8th, 2022, 10:20 pm

It would be interesting if Shell and BP announced a decision to move their domicile elsewhere! I can't really see much justification for a UK windfall tax charge on profits made overseas, which is where most of their business is :D


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