In addition to the main Shell brand, the company also owns the Jiffy Lube, Pennzoil and Quaker State brands. Shell holds 44% of Raízen, a publicly-listed joint venture with Cosan, which is the third-largest Brazil-based energy company. Shell USA, its principal subsidiary in the United States, is one of its largest businesses. ![]() As of 31 December 2019, Shell had total proved reserves of 11.1 billion barrels (1.76 ×10 9 m 3) of oil equivalent. Shell has operations in over 99 countries, produces around 3.7 million barrels of oil equivalent per day and has around 44,000 service stations worldwide. Shell is vertically integrated and is active in every area of the oil and gas industry, including exploration, production, refining, transport, distribution and marketing, petrochemicals, power generation, and trading. In recent decades gas has become an increasingly important part of Shell's business and Shell acquired BG Group in 2016. In 1970, Shell acquired the mining company Billiton, which it subsequently sold in 1994 and now forms part of BHP. In 1964, Shell was a partner in the world's first commercial sea transportation of liquefied natural gas (LNG). Shell was one of the " Seven Sisters" which dominated the global petroleum industry from the mid-1940s to the mid-1970s. Shell first entered the chemicals industry in 1929. The combined company rapidly became the leading competitor of the American Standard Oil and by 1920 Shell was the largest producer of oil in the world. Shell was formed in 1907 through the merger of Royal Dutch Petroleum Company of the Netherlands and The "Shell" Transport and Trading Company of the United Kingdom. Measured by both its own emissions, and the emissions of all the fossil fuels it sells, Shell was the ninth-largest corporate producer of greenhouse gas emissions in the period 1988–2015. A core component of Big Oil, Shell is the second largest investor-owned oil and gas company in the world by revenue (after ExxonMobil), and among the world's largest companies out of any industry. Shell is a public limited company with a primary listing on the London Stock Exchange (LSE) and secondary listings on Euronext Amsterdam and the New York Stock Exchange. Shell plc is a British multinational oil and gas company headquartered in London, England. a formerly known as "the Royal Dutch Company for the Exploitation of Petroleum Wells in the Dutch East Indies".LNG liquefaction volumes were slightly higher on the quarter, averaging 8 million tonnes. Shell's fuel sales averaged 4.3 million barrels per day in the quarter, down from 4.45 million bpd in the previous quarter, Shell said. ![]() Earnings from oil trading are set to be "significantly higher" in the quarter.Ĭashflow in the quarter would be negatively impacted by "very significant" outflows of around $7 billion as a result of changes in the value of oil and gas inventories. Shell, the world's largest liquefied natural gas trader, said earnings from LNG trading were expected to be higher in the quarter compared with the previous three months. The unprecedented volatility in commodity prices in recent months has pushed several traders to the brink as they scrambled to sharply increase downpayments for oil and LNG cargoes. ![]() Shell did not provide any guidance on the future of its stakes in Russian projects.īenchmark oil prices soared to an average of more than $100 a barrel in the quarter, their highest since 2014, while European gas prices hit a record high. Shell said it will exit all its Russian operations, including a major liquefied natural gas plant in the Sakhalin peninsula in the eastern flank of the country. The start of 2022 marked one of the most turbulent periods in decades for the oil and gas industry as Western companies including Shell rapidly pulled out of Russia, severing trading ties and winding down joint ventures following Moscow's invasion of Ukraine. Shell shares were down 1.2% at the start of London trading.
0 Comments
Leave a Reply. |