Royal Dutch Shell Group is an Integrated oil company. The Royal Dutch/Shell Group of Companies consists of the upstream businesses of Exploration & Production and Gas & Power and the downstream businesses of Oil Products and Chemicals. It also has interests in other industry segments such as Renewables and Hydrogen.

            Red = 25 day moving average.           Green = 200 day moving average.

Ex-divi thurs 12th Nov (0.47¢)

StockMarketWire.com
Shell and BG (BG) said, following satisfaction of the final pre-condition to the recommended combination and with the unanimous approval of both boards, the latter company is seeking the approval of the High Court to publish its scheme document and convene the related shareholder meetings.

Following High Court approval, the scheme document will be published as soon as practicable, which is currently expected to be on 22 December 2015.

Subject to approval of the UK Listing Authority, the Shell shareholder circular and prospectus are expected to be published at the same time as the scheme document.

Shell and BG shareholder meetings to approve the recommended combination are expected to be convened on 27 and 28 January 2016, respectively. Full details will be included in the shareholder documentation

StockMarketWire.com
Shell said FY 2015 earnings on a CCS basis, excluding identified items, are expected to fall in the range USD10.4bn-USD10.7bn. It said identified items for the 12-month period are seen as a net charge of USD6.8bn-USD7.0bn.

Production for Q4 was 3.0bn boe/d, and for the FY was 2.9m boe/d.

CEO Ben van Beurden was pleased with Shell's operating performance in 2015, and the momentum in the company to reduce costs and to improve competitiveness.
"The completion of the BG transaction, which we are expecting in a matter of weeks, will mark the start of a new chapter in Shell, to rejuvenate the company, and improve shareholder returns.

"Shell's drive to improve competitive performance is delivering at the bottom line. Operating costs have reduced by $4 billion, or around 10% in 2015, and the company expects Shells costs to fall again in 2016, by a further $3 billion.

"Synergies from the BG combination will be in addition to that. Together, these actions will include a reduction of some 10,000 staff and direct contractor positions in 2015-16 across both companies, as streamlining and integration of the two companies continue.

"Shell is taking impactful steps to refocus and reduce capital spending. Shell's capital investment in 2015 is expected to be $29 billion, an $8 billion or over 20% reduction from 2014 levels.

"This has been delivered by efficiency improvements and more selectivity on new investments. Capital investment for Shell and BG combined in 2016 is currently expected to be $33 billion, around a 45% reduction from combined spending, which peaked in 2013. Flexibility for further reductions is available and will be utilised should conditions warrant that. As a result of the above actions we have retained a strong balance sheet position at around 14% gearing.

"Asset sales for 2014 and 2015 now exceed $20 billion, well above the original plan of $15 billion set out in early 2014. Preparations are well advanced for $30 billion of asset sales in 2016-18, assuming the successful completion of the combination.

"In addition to divestments, Shell has taken impactful decisions in 2015 to reduce longer term, low return upstream positions, such as the exit from Alaska exploration for the foreseeable future, cancellation of Carmon Creek heavy oil project, and exit from shales positions in multiple countries.

"Shells fourth quarter and full year 2015 results and fourth quarter 2015 dividend are scheduled to be announced on 4 February 2016. A Shell General Meeting in relation to the proposed combination is scheduled for 27 January 2016 in The Hague, The Netherlands.

i don't know the yield, but as a top class company that is still turning in A1 results from the wrong sector, this could be a good safety stock

Citigroup today upgrades its investment rating on Royal Dutch Shell (LON:RDSA) to buy (from neutral) and left its price target at 1775p.

StockMarketWire.com
Shell said its FY 2015 earnings on a current cost of supplies (CCS) CCS basis were USD3.8bn, from USD19.0bn in 2014. Its Q4 2015 CCS earnings basis were USD1.8bn, from USD4.2bn in the same period in 2014.

CEO Ben van Beurden commented:
"The completion of the BG transaction, which we are expecting in a matter of weeks, marks the start of a new chapter in Shell, rejuvenating the company, and improving shareholder returns.

"We are making substantial changes in the company, reorganising our Upstream, and reducing costs and capital investment, as we refocus Shell, and respond to lower oil prices.

"As we have previously indicated, this will include a reduction of some 10,000 staff and direct contractor positions in 2015-16 across both companies.

"In 2015, we significantly curtailed spending by reducing the number of new investment decisions and designing lower-cost development solutions.

"For 2016, we have exited the Bab sour gas project in Abu Dhabi, and are postponing final investment decisions on LNG Canada and Bonga South West in deep water Nigeria.

"Operating costs and capital investment have been reduced by a total of $12.5 billion as compared to 2014, and we expect further reductions in 2016.

"As a result of our actions in 2015, we have retained a strong balance sheet position, with 14% gearing. Shell will take further impactful decisions to manage through the oil price downturn, should conditions warrant that.

"Shell's dividends for 2015 were $1.88 per share, and are expected to be at least $1.88 per share in 2016, as previously announced."

HIGHLIGHTS
- Fourth quarter 2015 CCS earnings excluding identified items (see page 5) were $1.8 billion compared with $3.3 billion for the fourth quarter of 2014, a decrease of 44%. Fourth quarter 2015 earnings were positively impacted by non-cash net gains of some $0.3 billion related to currency exchange rate effects on deferred tax positions. Full year 2015 CCS earnings excluding identified items were $10.7 billion compared with $22.6 billion in 2014.

- Compared with the fourth quarter 2014, CCS earnings excluding identified items benefited from continued strong Downstream results reflecting steps taken by the company to improve financial performance. In Upstream, earnings were impacted by the significant decline in oil and gas prices, partly offset by lower costs. Contributions from integrated gas were higher mainly as a result of improved trading performance and the effect of the strengthening of the Australian dollar on deferred tax positions.

- Fourth quarter 2015 basic CCS earnings per share excluding identified items decreased by 44% versus the fourth quarter 2014. Full year 2015 basic CCS earnings per share excluding identified items decreased by 53% versus 2014.

- Total dividends distributed to Royal Dutch Shell plc shareholders in the quarter were $3.0 billion, of which $1.2 billion were settled under the Scrip Dividend Programme. No shares were bought back during the fourth quarter.

- Gearing at the end of 2015 was 14.0% compared with 12.2% at the end of 2014.

- A fourth quarter 2015 dividend has been announced of $0.47 per ordinary share and $0.94 per American Depositary Share (ADS).

- Royal Dutch Shell is expected to announce a dividend of $0.47 per ordinary share and $0.94 per ADS in respect of the first quarter 2016.

StockMarketWire.com
Royal Dutch Shell (RDS) has declared an interim dividend in respect of the fourth quarter of 2015 of US$0.47 per A ordinary share (A Share) and B ordinary share (B Share), equal to the US dollar dividend for the same quarter last year.

The Board expects that the first quarter 2016 interim dividend will be US$0.47, equal to the US dollar dividend for the same quarter in the previous year. The first quarter 2016 interim dividend is scheduled to be announced on May 4, 2016.

Barclays comment today:
"Having pre-released 4Q numbers, the final RDS results are reassuringly in-line. At $1.9bn, the adjusted net income is at the top end of the $1.6-1.9bn range with cash flow from operations of $5.4bn in the middle of the $4.8-$6bn range given at the time. As we highlighted at the time of the pre-release, Shell has not had a good track record of performing well at the fourth quarter, but in the context of other results this quarter it does appear to have held up relatively well. Guidance for production for 1Q highlights planned maintenance in the Pearl GtL plant in Qatar with the only other news of note the -20% reserve replacement figure, which was heavily impacted by price effects and the stopping of Carmon Creek. As anticipated, there were no new targets ahead of the planned closing of the BG deal on February 15th. Recent actions make it clear that Shell has been resetting the business not only in preparation for a lower oil price environment with less competitive options being stopped, but also for the incorporation of the BG assets. Shell is clearly not exempt from the squeeze in earnings and cash flow faced by the industry but with the acquired assets it is likely to have more levers than most to pull through the downturn. We continue to see the investment case for Royal Dutch Shell as compelling and rate the stock Overweight with a 2750p/sh price target."

Quite a strong bounce from 1300p.......Doji candlestick warning of a trend change?

Barclays Capital 01.03.16 reaffirms its overweight investment rating on Royal Dutch Shell (LON:RDSA) and cut its price target to 2450p (from 2750p).

i inherited these thanks to my holding in BG, and very nicely they have done too

Surely you must be showing quite a large loss on your new RDSA holding as you also received cash in lieu of shares?

i've got them in CFD and to be honest, i'm not sure how it was all worked out
however, my RDSB (as it happens) are up £1.40 since i acquired them

Yes, that looks to be mega complicated. Presumably you were long CFD? I assume, though probably incorrectly, that you were just switched over to RDSA with an adjustment to your purchase price. Ordinary shareholders of BG. got gash and shares in RDSA (?).

i think they got RDSB, but they trade at the same price

Nomura today reaffirms its buy investment rating on Royal Dutch Shell (LON:RDSB) and raised its price target to 1750p (from 1575p).

I got RDSB for my BG.

RDSA dividends are in Euros and I think taxed in Holland AT 20%, and RDSB dividends are in sterling and just have a 10% tax credit which means from April no tax credit, RDSB dividends will be paid gross.

StockMarketWire.com
Royal Dutch Shell said its Q1 CCS earnings attributable to shareholders came in at USD0.8bn, down 83% from USD4.8bn. The recently-acquired BG Group has been included in the results.

CEO Ben van Beurden said Shell's Downstream and Integrated Gas businesses delivered strong results and underpinned the company's financial performance despite continued low oil and gas prices.

"We continue to reduce our spending levels, to capture cost opportunities and manage the financial framework in todays lower oil price environment. The combination with BG is off to a strong start, as a result of detailed forward planning before the completion of the transaction.

"This will likely result in accelerated delivery of the synergies from the acquisition, and at a lower cost than we originally set out.

"Putting all of this together, capital investment in 2016 is clearly trending toward USD30 billion, compared to previous guidance of USD33 billion, and some 36% lower than combined Shell and BG investment in 2014.

"Annual operating expenses excluding identified items are trending towards a run rate of USD40 billion compared with 2014 combined spend of around $53 billion.

"In practice, we expect to absorb BGs capital investment and operating expenses during 2016, with no net increase overall, compared with Shell stand alone in 2015.

"We will continue to manage spend, through dynamic decision-making across the organisation, taking advantage of opportunities from both the deflating market and the two companies coming together.

"The completion of the BG deal has reinforced our strategy and strength against the backdrop of hugely challenging times for our industry. For Shell and our shareholders, this is a unique opportunity to reshape and simplify the company."

HIGHLIGHTS:
- First quarter 2016 CCS earnings attributable to shareholders excluding identified items (see page 6) were $1.6 billion compared with $3.7 billion for the first quarter 2015, a decrease of 58%.

- Compared with the first quarter 2015, CCS earnings attributable to shareholders excluding identified items were impacted by the decline in oil, gas and LNG prices and weaker refining industry conditions. Earnings benefited from lower operating expenses, as steps taken by Shell to reduce costs more than offset the increase in operating expenses associated with BG.

- First quarter 2016 basic CCS earnings per share excluding identified items decreased by 63% versus the first quarter 2015.

- Cash flow from operating activities for the first quarter 2016 was $0.7 billion, which included negative working capital movements of $3.9 billion.

- Total dividends distributed to shareholders in the quarter were $3.7 billion, of which $1.5 billion were settled by issuing 65.7 million A shares under the Scrip Dividend Programme.

- Gearing at the end of the first quarter 2016 was 26.1% versus 12.4% at the end of the first quarter 2015. This increase mainly reflects the impact of the acquisition of BG.

- A first quarter 2016 dividend has been announced of $0.47 per ordinary share and $0.94 per American Depositary Share (ADS).

Jefferies International today reaffirms its buy investment rating on Royal Dutch Shell (LON:RDSA) and raised its price target to 2400p (from 2040p).

Morgan Stanley today reaffirms its overweight investment rating on Royal Dutch Shell (LON:RDSA) and raised its price target to 2400p (from 2280p).