Courtesy of Benzinga.
Shell (NYSE: RDS.A) (NYSE:RDS.B) today updated shareholders on progress against its strategic plan to generate profitable growth. In today’s volatile economic environment, the company’s strategic aim remains to drive forward with its investment programme, to deliver sustainable growth and provide competitive returns to shareholders.
Key highlights:
Global economy and energy markets likely to see continued high volatility. Shell remains focused on through-cycle investment for sustainable growth.
Delivery of underlying strategic drivers for 2012 targets established, underpinned by 14 project start-ups 2009-11, and Shell’s continuous improvement programmes.
Shell declared ~$10.5 billion of dividends in 2011 and expects to grow the dividend in 2012, reflecting an improving financial position.
Net capital investment in 2012 of $30 billion – 80% in Upstream – as Shell invests for a new tranche of growth.
Measured increase in spending and payout underpinned by a new outlook for cashflow from operations for the period 2012-15 some 30-50% higher than the 2008-11 total.
Growth outlook driven by over 60 new projects and options, maturing ~20 billion boe of new resources potential, including major projects in liquefied natural gas, deep water, tight gas, liquids-rich shales and traditional plays.
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