Market overview

Shell realised prices									Year average
	2016		2015		2014		2013		2012
	SUBS	JV&A	SUBS	JV&A	SUBS	JV&A	SUBS	JV&A	SUBS	JV&A
Crude oil and natural gas liquids ($/b)
Europe	38.62	40.75	49.77	45.97	94.57	89.68	105.23	99.27	108.13	104.60
Asia	38.11	43.95	47.73	52.21	89.47	96.85	96.46	70.34	107.76	67.33
Oceania	36.64	33.76	43.39	50.01	82.26	88.07	90.50	91.91	91.62	90.14
Africa	42.73	–	51.80	–	100.55	–	110.14	–	112.45	–
North America – USA	37.50	–	44.99	–	87.90	–	98.10	–	103.59	110.00
North America – Canada	25.76	–	25.45	–	59.19	–	63.14	–	68.31	–
South America	38.58	–	42.38	–	88.68	–	97.17	94.01	100.01	97.33
Total	38.60	43.58	47.52	51.82	91.09	95.87	99.83	72.69	107.15	76.01
Natural gas ($/thousand scf)
Europe	4.75	4.19	7.10	6.46	8.58	8.26	10.29	9.17	9.48	9.64
Asia	2.32	4.63	3.02	7.06	4.57	11.50	4.51	10.73	4.81	10.13
Oceania	5.31	4.33	6.80	6.73	10.49	11.01	11.55	9.45	11.14	9.48
Africa	2.33	–	2.10	–	2.71	–	2.84	–	2.74	–
North America – USA	2.21	–	2.39	–	4.52	–	3.92	–	3.17	7.88
North America – Canada	1.71	–	2.29	–	4.39	–	3.26	–	2.36	–
South America	1.83	–	2.46	–	2.85	–	2.91	0.42	2.63	1.04
Total	3.16	4.41	4.07	6.77	5.68	9.72	5.85	9.72	5.53	9.81
Other ($/b)
North America – Synthetic crude oil	37.61	–	40.87	–	81.83	–	87.24	–	81.46	–
North America – Bitumen	25.74	–	30.25	–	70.19	–	67.40	–	68.97	–