Shell Half-Year Report 2023

STRONG OPERATIONAL AND CASH PERFORMANCE, ENHANCED DISTRIBUTION

  • Q2 2023 Adjusted Earnings of $5.1 billion, with lower oil and gas prices and refining margins, lower volumes and lower LNG trading & optimisation results. CFFO of $15.1 billion for the quarter, with a $4.8 billion working capital inflow offsetting tax payments.
  • $3 billion share buybacks announced, expected to be completed by Q3 2023 results announcement. Quarterly dividend increase of 15% to $0.331 per share. Cash capex outlook range for 2023 lowered to $23-26 billion.

INTEGRATED GAS

  • Adjusted Earnings lower than in Q1 2023 due to lower prices and trading & optimisation results. Trading & optimisation results significantly lower, driven by seasonality and fewer optimisation opportunities, compared with a strong Q1 2023.
  • Q3 2023 production and liquefaction outlook reflects scheduled maintenance (including Prelude and Trinidad & Tobago).

UPSTREAM

  • Production lower than in Q1 2023, mainly driven by scheduled maintenance and completed divestments.
  • Adjusted Earnings lower compared with Q1 2023 due to lower prices and production volumes.
  • Q3 2023 production outlook reflects scheduled maintenance across the portfolio.

CHEMICALS & PRODUCTS

  • Lower Products margins driven by a fall in prices, lower trading & optimisation results and higher maintenance.
  • Lower Chemicals margins driven by continued weak demand and lower utilisation

 

 

Free Trial

Step 1 of 2

Name(Required)

By pressing “Send” you agree to the Privacy Policy of this site

No Credit Card needed, after filling up the form you will receive your Free-Trial login information in 24 to 48 hours by e-mail.

ImprintPrivacy Policy

All Rights Reserved © aicorite.com