CCS earnings $7.2 billion excluding identified items Cash flow from operating activities $20.6 billion Total dividends distributed $15.0 billion of which $5.3 billion were settled under the Scrip Dividend Programme Gearing 28.0 % Divestments $4.7 billion Major project startups 8 Organic capital [...]
The BG combination was designed to accelerate Shell’s growth strategy in deep water and LNG, enhance our free cash flow, and create a platform from which we can reshape Shell. It is about transforming Shell into a world-class investment case to create value for shareholders. Strategic fit The [...]
[...] a world-class development that will deliver cash flow and robust returns. Kaikias is an example of what an empowered and integrated team can do. It was on the drawing board just as the oil price decline was setting in. We proved just how competitive we can be in deep water. Every discipline and [...]
Policy Our policy is to grow the US dollar dividend through time in line with our view of Shell’s underlying earnings and cash flow. When setting the dividend, the Board of Directors looks at a range of factors, including the macroeconomic environment, the current balance sheet and future [...]
Growth priorities have a clear pathway towards delivering strong returns and free cash flow in the medium term. Deep water In deep water, we have leading positions in the Gulf of Mexico, Brazil, Nigeria and Malaysia. Our deep-water operations have significant growth potential from our large [...]
Future opportunities should provide us with material growth in free cash flow in the next decade or beyond when the energy transition opens up new areas of value for us. Shales We have a substantial position in shales in North America and Argentina. These are in production today, with substantial [...]
Cash engines need to deliver strong and stable returns and strong and stable free cash flow that can cover the dividend and share buybacks throughout macroeconomic cycles and leave us with enough cash to fund our future. Conventional oil and gas In our conventional oil and gas business, we only [...]