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.

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).

StockMarketWire.com
Shell (RDSA) said its H1 current cost of supplies (CCS) earnings attributable to shareholders was $1.053bn, from $8.122bn a year earlier.

It announced an interim dividend for Q2 of $0.47 per A and B ordinary shares, equal to the US dollar dividend for the same quarter last year.

The oil and gas titan's Q2 CCS earnings attributable to shareholders was $0.2bn, from $3.4bn a year earlier.

CEO Ben van Beurden commented that Shell's Downstream and Integrated Gas businesses contributed strongly to the results, alongside Shell's self-help programme.

"However, lower oil prices continue to be a significant challenge across the business, particularly in the Upstream.

"We are managing the company through the down-cycle by reducing costs, by delivering on lower and more predictable investment levels, executing our asset sales plans and starting up profitable new projects.

"At the same time, integration of Shell and BG is making strong progress, and our operating performance continues to further improve.

"We are making significant and lasting changes to Shell's working practices and cost structure. Shell is firmly on track to deliver a $40 billion underlying operating cost run rate at the end of 2016.

"Looking through the cycle, our investment plans and portfolio actions are focused firmly on reshaping Shell into a world-class investment case through stronger, sustained and growing free cash flow per share."

StockMarketWire.com
Royal Dutch Shell has swung to Q3 CCS earnings attributable to shareholders of $1.4bn, from a loss of $6.1bn a year ago. Excluding identified items, these earnings totalled $2.8bn, versus $2.4bn a year earlier.

"Shell delivered better results this quarter, reflecting strong operational and cost performance," said CEO Ben van Beurden in a statement.

"But lower oil prices continue to be a significant challenge across the business, and the outlook remains uncertain."

Van Beurden said the company's investment plans and portfolio actions were focused firmly on reshaping Shell into a world-class investment case at all points in the oil-price cycle, through stronger returns and improved free cash flow per share.

"We are making good progress towards this aim in spite of current challenging market conditions.

"The integration of Shell and BG is now essentially done and has been completed well ahead of plan. It's been an important catalyst for the significant and lasting changes we are making to the company's working practices, cost structure and portfolio.

"In parallel with the integration, we have been managing the company through the down-cycle by reducing costs and investment levels, while executing our asset sales plans and starting up new projects.

"Our underlying operational costs in 2016 are already at an annualised run rate of $40 billion, $9 billion lower than Shell and BG costs in 2014. They're set to reduce further on a like-for-like basis as deal synergies and improvements are delivered in full.

"Meanwhile, 2016 organic capital investment - which includes $3 billion in non-cash items - will be around $29 billion, some $18 billion below 2014 Shell and BG levels. Capital investment for 2017 is expected to be around $25 billion which is at the low end of our $25-$30 billion range.

"We are actively working on 16 material asset sales as part of the company's planned $30 billion divestment programme.

"Cash flow will be further boosted by new projects. When fully ramped up, projects started up in 2016 are expected to add more than 250 thousand barrels of oil equivalent per day (boe/d). Cash flow from new projects started up between 2014 and 2018 is expected to total $10 billion in 2018, at an average $60 oil price."

HIGHLIGHTS:
- Compared with the third quarter 2015, CCS earnings attributable to shareholders excluding identified items benefited from increased production volumes mainly from BG assets, lower operating expenses more than offsetting the increase related to the consolidation of BG, and lower well write-offs. This was partly offset by the decline in oil, gas and LNG prices, and increased depreciation mainly resulting from the BG acquisition, and weaker refining industry conditions.

- Third quarter 2016 basic CCS earnings per share excluding identified items decreased by 8% versus the third quarter 2015.

- Cash flow from operating activities for the third quarter 2016 was $8.5 billion, which included favourable working capital movements of $0.7 billion.

- Total dividends distributed to shareholders in the quarter were $3.8 billion, of which $1.1 billion were settled by issuing 44.1 million A shares under the Scrip Dividend Programme.

- Gearing at the end of the third quarter 2016 was 29.2% versus 12.7% at the end of the third quarter 2015. This increase mainly reflects the impact of the acquisition of BG.

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

BMO Capital Markets today reaffirms its market perform investment rating on Royal Dutch Shell (LON:RDSA) and raised its price target to 1900p (from 1600p)

Reuters - Royal Dutch Shell (RDSa.L) announced two divestments on Tuesday worth $4.7 billion including selling a chunk of its North Sea assets to private-equity backed Chrysaor which will now become a top three oil and gas producer in Britain.

The deals bring Shell's disposals to $12.5 billion since mid-2015 as it aims for $30 billion in deals by 2018.

Shell is reducing debt accrued through its $54 billion acquisition of BG Group last year.

Shell agreed to sell a mixture of new and late-life North Sea oil and gas assets, accounting for more than half of Shell's UK North Sea production, to Chrysaor for up to $3.8 billion.

"(The deal is) providing a springboard for Chrysaor to bring new investment and growth into the basin," said Shell Upstream Director Andy Brown.

The deal is expected to complete in the second half of the year and will make Chrysaor Britain's leading independent exploration and production company.

Chrysaor is backed by EIG and Noble Group (NOBG.SI) investment firm Harbour Energy. BMO Capital Markets Ltd advised the company, while Bank of America Merrill Lynch advised Shell.

Major oil companies such as Shell and BP (BP.L) are withdrawing from the mature North Sea basin to instead focus on higher-profit areas like Brazil or the Gulf of Mexico.

StockMarketWire.com
Royal Dutch Shell has booked FY CCS earnings attributable to shareholders of $3.5bn, from $3.8bn a year earlier. In Q4, CCS earnings attributable to shareholders were $1.0bn, from $1.8bn.

"We are reshaping Shell and delivered a good cash flow performance this quarter with over $9 billion in cash flow from operations," said CEO Ben van Beurden.

The company's debt had been reduced and, for the second consecutive quarter, free cash flow had more than covered its cash dividend.

Its Q4 dividend was $0.47 per ordinary share and $0.94 per American Depositary Share (ADS).

Van Beurden continued: "Production and LNG volumes included delivery from new projects, with ramp-up continuing in 2017 and 2018."

Meanwhile, he added, the company was operating at an underlying cost level that was $10bn lower than Shell and BG combined only 24 months ago.

"We are gaining momentum on divestments, with some $15 billion completed in 2016, announced, or in progress, and we are on track to complete our overall $30 billion divestment programme as planned."

Looking ahead, van Beurden said Shell would further focus the portfolio and strengthen the its financial framework in 2017.

"Our strategy is starting to pay off and in 2017 we will be investing around $25 billion in high quality, resilient projects."

Shell was expected to announce a dividend of $0.47 per ordinary share and $0.94 per ADS for Q1 2017.

Returning to the results, FY 2016 CCS earnings attributable to shareholders excluding identified items were $7.2bn, from $11.4bn in 2015.

Gearing at the end of 2016 was 28.0% (2015 14.0%). There was an increase of 9.7% on acquisition of BG.

Macquarie today reaffirms its outperform investment rating on Royal Dutch Shell (LON:RDSB) and set its price target at 2400p.