Upstream (illustration)


Our Upstream business explores for and extracts crude oil, natural gas and natural gas liquids. It also markets and transports oil and gas, and operates the infrastructure necessary to deliver them to market. As an important pillar of Shell’s strategy, Core Upstream themes comprise Deep Water, Shales and Conventional Oil and Gas. These themes are central to Shell and we will sustain their strong cash generation through the coming decades.

Cash flow from operations

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$19.5 billion


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Cash capital expenditure

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$10.3 billion

New acres

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~9 million

net undeveloped acres addition

GHG emissions 

1.9 million tonnes

lower vs. 2018, direct GHG emissions (scope 1)

FIDs taken

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