News and information on Shell Plc
26 April 2018
ROYAL Dutch Shell finance chief Jessica Uhl has hailed a big increase in profitability in the North Sea and underlined the oil and gas giant’s commitment to the area. As Shell posted a 42% increase in first quarter profits to $5.3bn (£3.8bn) from $3.8bn, helped by the rise in oil and gas prices, Ms Uhl indicated the North Sea has played a big part in the growth story. “We’re seeing a really fantastic performance from our assets in the North Sea,” she told reporters. FULL ARTICLE
REUTERS STAFF: APRIL 26, 2018April 26 (Reuters) – Royal Dutch Shell Chief Financial Officer Jessica Uhl said in a conference call following first quarter 2018 results:
* SHELL CFO UHL SAYS “ON TRACK BUT NOT THERE YET” TO TRIGGER $25 BILLION BUYBACK PROGRAMME
* SHELL CFO UHL SAYS “QUESTION OF TIME, NOT INTENT” TO BEGIN BUYBACKS
* SHELL CFO UHL SAYS GAS TRADING “PARTICULARLY SOFT” IN FIRST QUARTER 2018
* SHELL CFO UHL SAYS THERE IS STILL OPPORTUNITY TO FURTHER DRIVE DOWN OPERATING COSTS Further company coverage: (
Management thinks the things it has done in recent years will set it up to deliver huge returns for shareholders.Now that Shell has weathered the storm of low oil prices and is back to generating returns, management has plans both within and without the oil industry to preserve what it calls a “world-class investment case.” Here are several quotes from the company’s most recent earnings conference call that highlight some of the efforts Shell is taking to both grow the business and make the stock a better investment.
Executives
Ben van Beurden – CEO and Director
Jessica Uhl – CFO and Executive Director
Analysts
Michele Vigna – Goldman Sachs Group
Jason Gammel – Jefferies LLC
Christyan Malek – JPMorgan Chase & Co.
Theepan Jothilingam – Exane BNP Paribas
Iain Reid – Macquarie Research
Lydia Rainforth – Barclays PLC
Oswald Clint – Sanford C. Bernstein & Co.
Jason Kenney – Grupo Santander
Thomas Adolff – Crédit Suisse AG
Jonathon Rigby – UBS Investment Bank
by Angela Macdonald-Smith: Nov 29, 2017
Royal Dutch Shell has sewn doubt in the market about an early 2018 start-up of the oil major’s innovative Prelude floating LNG project off the coast of north-west Australia, with chief executive Ben van Beurden signalling that the project will only start contributing noticeably to cash flow in 2019.
While the ramp-up of the $US54 billion (71 billion) Gorgon LNG project in Western Australia was named by Mr van Beurden as among projects named to help grow cash flows next year, Prelude was included in the later batch.
Reuters Staff: NOVEMBER 13, 2017
LONDON/SYDNEY (Reuters) – Royal Dutch Shell is selling part of its stake in Australia’s largest independent oil and gas company, Woodside Petroleum Ltd, to equity investors for about $1.7 billion.
Shell, which has been slowly divesting its Woodside holding, said on Monday its Shell Energy Holdings Australia Limited (SEHAL) unit had struck a deal with two investment banks over the sale of 71.6 million Woodside shares for A$31.10 ($23.79) apiece.
The oil major said that represented 64 percent of its interest in Woodside and 8.5 percent of the issued capital in Woodside. FULL ARTICLE
July 27, 2017 12:23 PM EDT
The image of a driver slurping an iced latte while pulling a Mustang up to the drive-in window of a fast-food joint is either your idea of a capitalist apotheosis or civilization’s decadent demise.
Or … it’s what flashed through your mind as you listened to Royal Dutch Shell Plc’s earnings call on Thursday.
Jessica Uhl, Shell’s chief financial officer, at one point talked up the oil major’s marketing business:
We’re the world’s largest fuel retailer. Every day, Shell serves more than 30 million customers across our 43,000 sites in close to 80 countries. That is more sites than Starbucks; it is more than McDonald’s.
Anglo-Dutch energy giant Royal Dutch/Shell is shifting its focus toward downstream operations like refining and chemicals and away from traditional upstream activities like exploring for oil and gas, the Financieele Dagblad said on Wednesday.
This shift is likely to become even clearer when the company publishes its second quarter figures on Thursday, the paper said.
Shell’s investment in exploration slumped to $157m in the first quarter of 2017 from an annual quarterly average of between $500m to $600m in recent years, the paper points out. This is partly due to the group’s recent acquisition of the BG Group which has large deep-sea reserves off the coast of Brazil.
MARK WILLIAMSON: 5 MAY 2017
ROYAL Dutch Shell’s new finance chief has said the company will continue to invest in the North Sea where it is making good returns but declined to rule out selling off more UK assets.
Speaking after Shell posted a 140 per cent increase in first quarter profits, Jessica Uhl said the North Sea remains important to the firm although rationalisation moves will leave it with a much reduced presence in the area.
The oil and gas giant agreed in January to sell a portfolio of mature assets which account for around half its UK production to Chrysaor for up to $3.8 billion.
from an old EP hand:
Another american woman. I do not know her, she must be very clever. But Shell has not had a lot of luck with senior american women. Do I need to mention the Cook woman? Or the Boynton woman?
And as a total outsider, I must observe that this Uhl woman is a bit tainted. She worked for Enron in the top years of all the scandals and in a very senior position.
We now know that the people working in Enron in that period might be the cleverest in the business, but not the most ethical ones. And for a finance director only the highest ethical standards should apply. A huge risk IMHO.
A finance boss at Royal Dutch Shell who was tipped to take over the top job has suddenly left – just days after he sold stock worth £1million.
Credited with leading the firm’s £41billion takeover of oil and gas group BG last year, Simon Henry was a key lieutenant of chief executive Ben van Beurden.
But the 55-year-old’s departure was announced yesterday to the shock of the markets. Relatively unknown internal finance executive Jessica Uhl has been appointed in his place.
It emerged Henry sold more than £1million of shares on December 1, within 24 hours of the historic Opec deal to cut production that then sent the price of oil soaring.
by Rakteem Katakey: 15 December 2016, 16:47 GMT
Royal Dutch Shell Plc’s appointment of Jessica Uhl as finance chief on Thursday posed one simple question for many of the analysts who follow Europe’s largest oil company: “Who?”
The 48-year-old U.S. citizen, currently head of finance for Shell’s Integrated Gas unit — a key cash cow since this year’s acquisition of BG Group Plc — will take over from Simon Henry in March. Having been at the oil major for 12 years, exclusively in finance, she has “in-depth knowledge” to execute its cash-generation plans, according to Shell.
By SARAH KENT: Dec 15, 2016 8:33 am ET
Royal Dutch Shell PLC’s new finance chief has two big challenges: a mountain of debt and the pressure to keep down costs.
The British-Dutch oil giant on Thursday said its new chief financial officer will be Jessica Uhl, who is currently the top finance official for one of Shell’s most important units: Integrated Gas.
The BG merger bolstered Shell’s leading position in global natural-gas markets and led to the creation of the gas unit where Ms. Uhl worked. It also caused Shell’s net debt to balloon to $86.63 billion at the end of the third quarter…
By Karolin Schaps | LONDON
Royal Dutch Shell (RDSa.L) Chief Financial Officer Simon Henry will step down in March after seven years in the post and be replaced by Jessica Uhl, a finance executive in Shell’s gas business.
Henry, a 55-year-old Shell veteran, was one of the executives who oversaw the $54 billion (43.27 billion pound) acquisition of BG Group, which completed in February, and the integration of the gas company which turned Shell into the world’s largest liquefied natural gas (LNG) trader.
Royal Dutch Shell executive Jessica Uhl has been elevated to chief financial officer for global operations.
Uhl, the current executive vice president of finance for integrated gas, begins her new post in March and will continue to work at The Hague. She will replace CFO Simon Henry, who will assist with the transition through June.
Before joining Shell in 2004, Uhl was a director of project development and later a vice president of corporate development for Enron in Houston and Panama.
Uhl also will serve as an executive director of Shell and sit on the executive committee. Shell CEO Ben van Beurden praised Uhl’s promotion.
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30 November 2023: Posted by John Donovan
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