Market overview

-1 Market overview Shell Investors’ Handbook 2014-2018
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Shell realised prices

Year average

 

2018

2017

2016

2015

2014

 

SUBS

JV&A

SUBS

JV&A

SUBS

JV&A

SUBS

JV&A

SUBS

JV&A

[A]

As revised, following a reassessment.

[B]

Included Shell’s 14% share of Woodside from January 2016 to April 2016. Woodside is a publicly listed company on the Australian Securities Exchange for which we have limited access to data; accordingly, the numbers are estimated. The accounting classification of Woodside was changed from an associate to an investment in securities in April 2016.

Crude oil and natural gas liquids ($/b)

 

 

 

 

 

 

 

 

 

 

Europe

68.23

64.24

50.52

46.88

38.62

40.75

49.77

45.97

94.57

89.68

Asia

64.06

70.66

49.08

53.44

38.11

43.95

47.73

52.21

89.47

96.85

Oceania

61.63

–

45.64

–

36.64

33.76[B]

43.39

50.01

82.26

88.07

Africa

71.02

–

53.39

–

42.73

–

51.80

–

100.55

–

North America – USA

61.87

–

47.23

–

37.50

–

44.99

–

87.90

–

North America – Canada

43.72

–

36.00

–

25.76

–

25.45

–

59.19

–

South America

62.67

–

48.10

–

38.58

–

42.38

–

88.68

–

Total

63.96

70.43

49.00

53.23

38.60

43.58

47.52

51.82

91.09

95.87

Natural gas ($/thousand scf)

 

 

 

 

 

 

 

 

 

 

Europe

7.12

4.06

5.48

4.77

4.75

4.19

7.10

6.46

8.58

8.26

Asia

2.99

7.06

2.84

5.45

2.32

4.63

3.02

7.06

4.57

11.50

Oceania

8.95

4.15

6.21

3.11

5.31

4.33[B]

6.80

6.73

10.49

11.01

Africa

3.02

–

2.44

–

2.33

–

2.10

–

2.71

–

North America – USA

3.12

–

3.00

–

2.21

–

2.39

–

4.52

–

North America – Canada

1.35

–

1.85

–

1.71

–

2.29

–

4.39

–

South America

3.50

–

2.93[A]

–

1.83

–

2.46

–

2.85

–

Total

4.64

5.74

3.90[A]

5.11

3.16

4.41

4.07

6.77

5.68

9.72

Other ($/b)

 

 

 

 

 

 

 

 

 

 

North America – Synthetic crude oil

48.90

–

45.90

–

37.61

–

40.87

–

81.83

–

North America – Bitumen

–

–

34.46

–

25.74

–

30.25

–

70.19

–

Oil marker industry prices

$/barrel

Oil marker industry prices (in $/barrel) for Brent, WTI, JCC, WCS – ($/MMBtu) – development from 2014 to 2018 (line chart)

[A] Based on available market information up to the end of the year.

Gas marker industry prices

$/MMBtu

Pence/therm

Gas marker industry prices (in $/barrel) for Henry Hub, JKM, NBP (RHS) – ($/MMBtu) – development from 2014 to 2018 (line chart)

[A] Based on available market information up to the end of the year.

Industry refining margins [A]

$/barrel

Industry refining margins (in $/barrel) for US West Coast, US Gulf Coast Coking, Rotterdam Complex and Singapore – development from 2014 to 2018 (bar chart)

[A] The refining and cracker industry margins do not represent actual Shell realised margins for the periods.

Industry chemicals margins [A]

$/tonne

Industry chemicals margins (in $/tonne) for US ethane, Western Europe naphtha, North-east/South-east Asia naphtha – development from 2014 to 2018 (bar chart)

[A] The refining and cracker industry margins do not represent actual Shell realised margins for the periods.

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