SHEL 06:01

Shell plc

SHELL PLC 4th QUARTER 2024 AND FULL YEAR UNAUDITED RESULTS

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SHEL 06:01

Shell plc

Shell fourth quarter 2024 update note

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Here is a summary of the key points from the Shell Fourth Quarter 2024 Update Note

The update provides an outlook for the fourth quarter of 2024 and is subject to change until the final results are published on January 30, 2025.

In the Integrated Gas segment, scheduled maintenance at Pearl GTL in Qatar is expected to impact production, while lower feedgas and fewer cargo liftings will result in lower LNG liquefaction volumes. Trading & Optimization results are expected to be significantly lower due to the impact of expiring hedging contracts.

For Upstream, the share of profit/(loss) from joint ventures and associates is expected to be around $0.3 billion, and exploration well write-offs are anticipated to be ~$0.4 billion.

Marketing results are expected to be lower in the fourth quarter, reflecting seasonal variations.

In Chemicals and Products, the indicative refining margin is expected to remain at $5.5/bbl, while the indicative chemicals margin is anticipated to decrease to $138/tonne. The Chemicals sub-segment is expected to reflect a loss in the fourth quarter.

Trading & Optimization in Renewables and Energy Solutions is also expected to be significantly lower compared to the third quarter.

Shell Groups taxation charge includes the reassessment of deferred tax assets and one-off tax adjustments.

Net debt is projected to include $4-6 billion of new lease liabilities, including the recognition of the LNG Canada pipeline liability.

The announcement includes forward-looking statements and a cautionary note regarding potential risks and uncertainties that could impact Shells future operations and financial condition.

Shells operating plans reflect the companys Scope 1, Scope 2, and NCI targets for the next ten years but may not align with the 2050 net-zero emissions target due to the long-term nature of the goal.

The update also includes definitions and explanations of various non-GAAP financial measures used by Shell.

I can help with that! Here is an HTML table comparing the financial and debt information for the fourth quarter of 2024 (Q4'24) and the third quarter of 2024 (Q3'24) for Shell PLC, based on the information provided: <>

Shell PLC Financial Comparison: Q3'24 vs Q4'24

Segment	Metric	Q3'24	Q4'24 Outlook	Comment
Integrated Gas	Adjusted EBITDA ($ billions)	N/A	N/A	N/A
	Production (kboe/d)	941	880 - 920	Scheduled maintenance at Pearl GTL in Qatar in Q4'24.
	LNG Liquefaction Volumes (MT)	7.5	6.8 - 7.2	Lower feedgas, and fewer cargos due to the timing of liftings.
	Underlying Opex ($ billions)	1.1	1.0 - 1.2
	Pre-tax Depreciation ($ billions)	1.4	1.2 - 1.6
	Taxation Charge ($ billions)	0.9	0.5 - 0.8
Upstream	Adjusted EBITDA ($ billions)	N/A	N/A	N/A
	Production (kboe/d)	1,811	1,790 - 1,890
	Underlying Opex ($ billions)	2.1	2.2 - 2.8
	Pre-tax Depreciation ($ billions)	2.7	2.4 - 3.1
	Taxation Charge ($ billions)	2.4	2.3 - 3.1	The share of profit/(loss) of joint ventures and associates in Q4'24 is expected to be ~$0.3 billion. Q4'24 exploration well write-offs are expected to be ~$0.4 billion.
	Marketing	Adjusted EBITDA ($ billions)	N/A	N/A	N/A
Sales Volumes (kb/d)		2,945	2,600 - 3,000
Underlying Opex ($ billions)		2.7	2.4 - 2.8
Pre-tax Depreciation ($ billions)		0.6	0.4 - 0.8
Taxation Charge ($ billions)		0.3	0.1 - 0.4	Marketing results are expected to be lower than Q3'24, reflecting seasonality.
Chemicals and Products		Adjusted EBITDA ($ billions)	N/A	N/A	N/A
	Indicative Refining Margin ($/bbl)	$5.5	$5.5
	Indicative Chemicals Margin ($/tonne)	$164	$138	The Chemicals sub-segment adjusted earnings are expected to reflect a loss in Q4'24.
	Refinery Utilisation (%)	81	74 - 78
	Chemicals Utilisation (%)	76	73 - 77
	Underlying Opex ($ billions)	2.1	2.0 - 2.4
Renewables and Energy Solutions	Adjusted Earnings ($ billions)	(0.2)	(0.6) - (0.1)
	Pre-tax Depreciation ($ billions)	N/A	N/A	N/A
Corporate	Adjusted Earnings ($ billions)	(0.6)	(0.4) - (0.2)
	Pre-tax Depreciation ($ billions)	N/A	N/A	N/A
Shell Group	CFFO: Tax Paid ($ billions)	3.0	2.3 - 3.1
	Derivative Movements ($ billions)	0.1	(2) - 2
	Other ($ billions)	(0.4)	(2) - (1)	CFFO excluding working capital is expected to include an ~$1.3 billion outflow related to timing of payments of emissions certificates relating to the German BEHG* and US Biofuel programmes.
	Working Capital ($ billions)	2.7	(1) - 3	Q4'24 Working Capital movements are expected to include a ~$1.0 billion payment of German Mineral Oil Taxes.
Net Debt ($ billions)	N/A		Expected to include $4 - 6 billion of new lease liabilities recognized in Q4'24, including the recognition of the LNG Canada pipeline liability.

Please note that I have only included the financial metrics and debt information from the provided text. If you would like me to include additional information or make any changes to the table, feel free to let me know!

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SHEL 06:01

Shell plc

SHELL PLC 4th QUARTER 2024 AND FULL YEAR UNAUDITED RESULTS

AI Expand: Explanation + Tables

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SHEL 06:01

Shell plc

Shell fourth quarter 2024 update note

AI Expand: Explanation + Tables

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Return to today’s catalyst cards, chart beacons and AI charts.

Here is a summary of the key points from the Shell Fourth Quarter 2024 Update Note

The update provides an outlook for the fourth quarter of 2024 and is subject to change until the final results are published on January 30, 2025.

In the Integrated Gas segment, scheduled maintenance at Pearl GTL in Qatar is expected to impact production, while lower feedgas and fewer cargo liftings will result in lower LNG liquefaction volumes. Trading & Optimization results are expected to be significantly lower due to the impact of expiring hedging contracts.

For Upstream, the share of profit/(loss) from joint ventures and associates is expected to be around $0.3 billion, and exploration well write-offs are anticipated to be ~$0.4 billion.

Marketing results are expected to be lower in the fourth quarter, reflecting seasonal variations.

In Chemicals and Products, the indicative refining margin is expected to remain at $5.5/bbl, while the indicative chemicals margin is anticipated to decrease to $138/tonne. The Chemicals sub-segment is expected to reflect a loss in the fourth quarter.

Trading & Optimization in Renewables and Energy Solutions is also expected to be significantly lower compared to the third quarter.

Shell Groups taxation charge includes the reassessment of deferred tax assets and one-off tax adjustments.

Net debt is projected to include $4-6 billion of new lease liabilities, including the recognition of the LNG Canada pipeline liability.

The announcement includes forward-looking statements and a cautionary note regarding potential risks and uncertainties that could impact Shells future operations and financial condition.

Shells operating plans reflect the companys Scope 1, Scope 2, and NCI targets for the next ten years but may not align with the 2050 net-zero emissions target due to the long-term nature of the goal.

The update also includes definitions and explanations of various non-GAAP financial measures used by Shell.

I can help with that! Here is an HTML table comparing the financial and debt information for the fourth quarter of 2024 (Q4'24) and the third quarter of 2024 (Q3'24) for Shell PLC, based on the information provided: <>

Shell PLC Financial Comparison: Q3'24 vs Q4'24

Segment	Metric	Q3'24	Q4'24 Outlook	Comment
Integrated Gas	Adjusted EBITDA ($ billions)	N/A	N/A	N/A
	Production (kboe/d)	941	880 - 920	Scheduled maintenance at Pearl GTL in Qatar in Q4'24.
	LNG Liquefaction Volumes (MT)	7.5	6.8 - 7.2	Lower feedgas, and fewer cargos due to the timing of liftings.
	Underlying Opex ($ billions)	1.1	1.0 - 1.2
	Pre-tax Depreciation ($ billions)	1.4	1.2 - 1.6
	Taxation Charge ($ billions)	0.9	0.5 - 0.8
Upstream	Adjusted EBITDA ($ billions)	N/A	N/A	N/A
	Production (kboe/d)	1,811	1,790 - 1,890
	Underlying Opex ($ billions)	2.1	2.2 - 2.8
	Pre-tax Depreciation ($ billions)	2.7	2.4 - 3.1
	Taxation Charge ($ billions)	2.4	2.3 - 3.1	The share of profit/(loss) of joint ventures and associates in Q4'24 is expected to be ~$0.3 billion. Q4'24 exploration well write-offs are expected to be ~$0.4 billion.
	Marketing	Adjusted EBITDA ($ billions)	N/A	N/A	N/A
Sales Volumes (kb/d)		2,945	2,600 - 3,000
Underlying Opex ($ billions)		2.7	2.4 - 2.8
Pre-tax Depreciation ($ billions)		0.6	0.4 - 0.8
Taxation Charge ($ billions)		0.3	0.1 - 0.4	Marketing results are expected to be lower than Q3'24, reflecting seasonality.
Chemicals and Products		Adjusted EBITDA ($ billions)	N/A	N/A	N/A
	Indicative Refining Margin ($/bbl)	$5.5	$5.5
	Indicative Chemicals Margin ($/tonne)	$164	$138	The Chemicals sub-segment adjusted earnings are expected to reflect a loss in Q4'24.
	Refinery Utilisation (%)	81	74 - 78
	Chemicals Utilisation (%)	76	73 - 77
	Underlying Opex ($ billions)	2.1	2.0 - 2.4
Renewables and Energy Solutions	Adjusted Earnings ($ billions)	(0.2)	(0.6) - (0.1)
	Pre-tax Depreciation ($ billions)	N/A	N/A	N/A
Corporate	Adjusted Earnings ($ billions)	(0.6)	(0.4) - (0.2)
	Pre-tax Depreciation ($ billions)	N/A	N/A	N/A
Shell Group	CFFO: Tax Paid ($ billions)	3.0	2.3 - 3.1
	Derivative Movements ($ billions)	0.1	(2) - 2
	Other ($ billions)	(0.4)	(2) - (1)	CFFO excluding working capital is expected to include an ~$1.3 billion outflow related to timing of payments of emissions certificates relating to the German BEHG* and US Biofuel programmes.
	Working Capital ($ billions)	2.7	(1) - 3	Q4'24 Working Capital movements are expected to include a ~$1.0 billion payment of German Mineral Oil Taxes.
Net Debt ($ billions)	N/A		Expected to include $4 - 6 billion of new lease liabilities recognized in Q4'24, including the recognition of the LNG Canada pipeline liability.

Please note that I have only included the financial metrics and debt information from the provided text. If you would like me to include additional information or make any changes to the table, feel free to let me know!

Go Back To AI Charts