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2021-10-28

Royal Dutch Shell plc publishes third quarter 2021 press release

The Hague, October 28, 2021

"This quarter we've generated record cash flow, maintained capital discipline and announced our intention to distribute $7 billion to our shareholders from the sale of our Permian assets. Today, we also set a new 2030 target to halve the absolute emissions from our operations, compared to 2016 levels on a net basis. Altogether, this is clear evidence of how we are accelerating our Powering Progress strategy, purposefully and profitably." 

Royal Dutch Shell Chief Executive Officer, Ben van Beurden

QUALITY PORTFOLIO DELIVERING RECORD CASH

  • Highest ever CFFO excl. working capital of $17.5 billion, supported by outstanding cash generation across the businesses and boosted by commodity derivatives.
  • Disciplined cash capex of $13.2 billion in the first nine months; expected to be around $20 billion in 2021.
  • Share buybacks of $1.0 billion in Q3 2021 out of a total target of $2 billion in the second half of 2021. Additional shareholder distributions of $7 billion related to the Permian sale to start in 2022, post deal completion.
  • An absolute emissions reduction target of 50% by 2030, compared to 2016 levels on a net basis, covering all Scope 1 and 2 emissions under Shell’s operational control.
$ million Adj. Earnings1 Adj. EBITDA (CCS) CFFO ex. WC CFFO Cash capex
Integrated Gas 1,680 3,768 7,871 5,674 1,272
Upstream 1,686 6,766 5,889 5,777 1,502
Oil Products 1,212 2,360 3,262 3,757 976
Refining & Trading (3) 415     364
Marketing 1,215 1,945     612
Chemicals 395 715 684 840 1,053
Corporate (732)
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