Ronan Cassidy, Shell plc’s Chief Human Resources and Corporate Officer, will step down with effect from 31 December 2023, and leave Group service thereafter.
Enhanced focus on performance, discipline and simplification / Shareholder distributions increased to 30-40% of cash flow from operations (CFFO) through the cycle: 15% increase in dividend per share effective Q2 2023 and Share buybacks of at least $5 billion for the second half of 2023 / Capital spending reduced to $22-25 billion per year for 2024 and 2025 / Annual operating cost structurally reduced by $2-3 billion by end 2025 / Reiterated commitment to climate targets, including net-zero emissions by 2050
Shell plc has today published its latest scenarios: the Energy Security Scenarios. The two new scenarios explore how the world could evolve following Russia’s invasion of Ukraine. Specifically, they look into the possible energy and climate outcomes that could result from a world that has security as its dominant concern.
Shell plc has published its Energy Transition Progress Report 2022, which shows it has again met its climate targets as part of its energy transition strategy. The report will be put to shareholders for an advisory vote at Shell’s Annual General Meeting on May 23, 2023.
Europe’s increased need for liquefied natural gas (LNG) looks set to intensify competition with Asia for limited new supply available over the next two years and may dominate LNG trade over the longer term, according to Shell’s LNG Outlook 2023.
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