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Shell bracing for a worst-case scenario: Demand to never fully recover

Extract from the article:

The 5 Most Influential Oil Companies In The World

4. Royal Dutch Shell Plc.

  • Revenue (TTM): $180.5 billion
  • Net Income (TTM): -$21.7 billion
  • Market Cap: $144.3billion
  • 1-Year Trailing Total Return: 8.4%
  • Exchange: New York Stock Exchange

Netherlands-based, Royal Dutch Shell Plc. (NYSE:RDS.A) operates as an integrated oil, gas and chemicals company.

Shell remains one of Big Oil’s least optimistic companies when it comes to the long-term oil and gas outlook. Shell says we might already be past peak oil demand and is bracing itself for a worst-case scenario: Demand to never fully recover.

“I think a crisis like this has the potential to capitalize society into a different way of thinking, much as the Paris Agreement has had,”  company CEO Ben van Beurden has told investors.

Shell has also revealed that it expects ~75% of its proved oil and gas reserves to be exhausted by 2030 and nearly all by 2050.

Shell is massively pivoting away from oil and gas production and into green energy, including booking billions of dollars in losses due to huge asset writeoffs.

On a brighter note, Shell managed to double its crude and refined products trading profits in 2020 with earnings from the Oil Products division rising to nearly $2.6 billion from $1.3B the previous year. Shell managed to stay in the black despite an 87% plunge in profits thanks to the juicy trading profits


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