Shell Updates 2013 Reults

Posted by Michelle Howard
Friday, January 17, 2014

Royal Dutch Shell plc has updated its expected 2013 results. Fourth quarter 2013 figures, which are expected to be published on January 30, 2014 , are expected to be significantly lower than recent levels of profitability, considering current oil and gas prices and the downstream oil products industry environment.

Shell’s fourth quarter 2013 earnings on a current cost of supplies (CCS) basis excluding identified items are expected to be approximately $2.9 billion and were impacted by weak industry conditions in downstream oil products, higher exploration expenses and lower upstream volumes.

Chief Executive Officer Ben van Beurden commented, “Our 2013 performance was not what I expect from Shell. Our focus will be on improving Shell’s financial results, achieving better capital efficiency and on continuing to strengthen our operational performance and project delivery.”

When Shell announces its results on January 30, 2014, fourth quarter 2013 CCS earnings are expected to be approximately $2.2 billion, and full year 2013 CCS earnings are expected to be approximately $16.8 billion.

Fourth quarter 2013 identified items are expected to be a net charge of approximately $0.7 billion, mainly reflecting impairments in Upstream. Full year 2013 identified items are expected to be a net charge of approximately $2.7 billion, also mainly reflecting impairments in Upstream.

Excluding identified items, fourth quarter 2013 CCS earnings are expected to be approximately $2.9 billion, reflecting lower results in each of Upstream, Downstream and Corporate compared with the fourth quarter 2012.

Full year 2013 CCS earnings excluding identified items are expected to be approximately $19.5 billion, reflecting lower results in both Upstream and Downstream compared with the full year 2012.

Compared with the fourth quarter 2012, Upstream earnings excluding identified items were impacted by higher exploration expenses and lower volumes. A high level of maintenance activity during the fourth quarter 2013 affected high value oil and gas production volumes, including gas-to-liquids, as well as LNG sales volumes. Earnings were also impacted by the weakening of the Australian dollar. Upstream Americas continued to incur a loss. The security situation in Nigeria remained challenging.

Compared with the fourth quarter 2012, Downstream CCS earnings excluding identified items were mainly impacted by significantly weaker industry refining conditions, in particular in Asia Pacific and Europe. Marketing and trading contributions were lower. Chemicals earnings increased as a result of improved industry conditions and operating performance.

Cash flow from operating activities for the fourth quarter 2013 is expected to be approximately $6.0 billion. Full year 2013 cash flow from operating activities is expected to be approximately $40.4 billion.

Excluding working capital movements, cash flow from operating activities for the fourth quarter 2013 is expected to be approximately $7.7 billion, and approximately $37.5 billion for the full year 2013.

Net capital investment (see Note 1) for the fourth quarter 2013 is expected to be approximately $15.8 billion. Full year 2013 net capital investment is expected to be approximately $44.3 billion.

Gearing is expected to be approximately 16% at the end of 2013.

Shell’s fourth quarter and full year 2013 results and fourth quarter 2013 dividend are scheduled to be announced on January 30, 2014. Shell’s annual Management Day is scheduled for March 13, 2014 in London, United Kingdom, and will also be webcast on www.shell.com/investor. On March 17, 2014 a Management Day will be held in New York, United States.

  • Chart: Shell

    Chart: Shell

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

DP World's H1 Volumes Rise

Ports operator DP World reported on Tuesday first-half 2016 gross container volumes up 1.2 percent on a like-for-like basis and up 2.5 percent on a reported basis.

Samil PwC Okays Hyundai's Management Improvement Plan

Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement

Volvo Penta Names Brown Commercial Marine Sales Director

Dave Brown has joined Volvo Penta of the Americas as director of commercial marine sales.   In this new position, Brown will provide strategic and administrative

Finance

Bahri Q2 Net Profit Soars

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 percent increase in second-quarter net profit on Tuesday.

DP World's H1 Volumes Rise

Ports operator DP World reported on Tuesday first-half 2016 gross container volumes up 1.2 percent on a like-for-like basis and up 2.5 percent on a reported basis.

VesselValue.com: $28.4B Worth of Ships Delivered to Date

As the calendar now indicates we have passed the half year mark on 2016, VesselValue.com offers insight on the number and value of all the 2016 built vessels that

Energy

Bahri Q2 Net Profit Soars

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 percent increase in second-quarter net profit on Tuesday.

Fuel Consumption, Emissions Monitoring Software Updated

As part of the ongoing Blue Star Delos Renewable Energy Innovation Project, Eco Marine Power (EMP) stated that the Aquarius Management & Automation System (MAS)

Los Angeles Pushes for Valero Terminal Improvements

The Port of Los Angeles has released an Initial Study/Notice of Preparation (IS/NOP) — the first step in the Environmental Impact Report (EIR) process — for a Marine

News

Bahri Q2 Net Profit Soars

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 percent increase in second-quarter net profit on Tuesday.

DP World's H1 Volumes Rise

Ports operator DP World reported on Tuesday first-half 2016 gross container volumes up 1.2 percent on a like-for-like basis and up 2.5 percent on a reported basis.

Broad Declines drag Baltic Index down

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday on lower rates for capesize, panamax and supramax vessels.

Offshore Energy

Eni Cancels Vessel Deal with Viking Supply Ships

Viking Supply Ships A/S (VSS) has received an early termination notice of the contract for the Ice-class 1A AHTS “Njord Viking”. The vessel has been working for

MOL Signs Long-Term Charter with Uruguayan JV for FSRU

Japanese shipping company Mitsui O.S.K. Lines, has, through its wholly-owned subsidiary Lakler S.A., agreed to conclude a charter contract with Gas Sayago, for

Ithaca’s FPF-1 platform to be moved to Stella field

Ithaca Energy Inc. reports that the "FPF-1" floating production facility has completed the required inclination test as planned and departed the Remontowa shipyard in Gdansk, Poland.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1448 sec (7 req/sec)