Report
Thijs Berkelder

Shell Plc : Attractive combination of cash returns & energy transition

>Feedback conference call: 1/3rd expenditures for Energy Transition - CEO Ben van Beurden and CFO Jessica Uhl were hosting Shell’s Q4 conference call with the slide below probably the key slide to look at for financial driven investors. On cash capex, Shell in 2022 aims to grow to the low-end of the $ 23-27bn guidance range (up from $ 20bn in 2021) with main focus on growing its Marketing (retail stations, lubricants) capex to c. $ 5-6bn from c. $ 3bn, and with Renewa...
Underlying
Royal Dutch Shell Plc Class A

Royal Dutch Shell is a holding company. Through its subsidiaries, Co. is engaged in the oil and gas industry. Co. reports its business through four segments: Integrated Gas, which engaged in the liquefaction and transportation of gas and the conversion of natural gas to liquids to provide fuels and other products; Upstream, which engaged in the exploration for and extraction of crude oil, natural gas and natural gas liquids; Downstream, which engaged in oil products and chemicals manufacturing and marketing activities; and Corporate, which comprising Co.'s holdings and treasury organisation, its self-insurance activities and its headquarters and central functions.

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Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Thijs Berkelder

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