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Shell in the 3rd quarter of 2020 have returned to profitability, but the financial discipline is not yet weakened

The company will continue to focus on reducing net debt

London, 30 Oct – IA Neftegaz.RU. The net profit of Shell in 3m quarter of 2020 decreased by 12 times compared to 3m quarter of 2019 and amounted to USD 489 million. USA.
Shell financial results released on 29 October 2020.

The indicator has improved compared to 2m quarter of 2020, when Shell received a loss of $ 18 billion. USA.

Revenue fell 2 times, up to USD 44.7 billion. USA.

Hydrocarbon production Shell 3m quarter of 2020 decreased by 14% year-on-year and amounted to 3,081 million boe/day.

Liquids production decreased by 9% to 1.69 million barrels./day, gas by 18%, to 8 billion CFT3/day (226 million m3/day).

The production of liquefied natural gas (LNG) decreased by 13%, to 7.8 million tons, while sales rose 9% to 17.13 million tonnes.

4m quarter of 2020, Shell expects to restore production to 7.9-8.5 million t of LNG.

Capex Shell 3m quarter of 2020 increased by 2.7% over the previous quarter, to 3.7 billion. USA.

However, in the annual comparison index fell by almost 2 times.

The Board of Directors of Shell took the decision to increase the dividend per share to 16.65 cents for 3th quarter 2020

Additionally, the Council approved scheme of allocation, which suggests that while reducing the company’s net debt to 65 billion dollars. U.S. shareholders will be allocated 20-30% of operating cash flow.

At the end of 3th quarter of 2020, the company’s net debt was 73.5 billion dollars. USA.

Shell will continue to adhere to strict discipline in capital management, capex will be 19-22 billion. United States, with the focus on reducing net debt.

The company also maintains a plan for the sale of assets for $ 4 billion. US/year.

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