Shell is at an important turning point. The bold counter-cyclical acquisition of BG will firmly establish IOC leadership in both the deepwater and LNG sectors, and will be a springboard for Shell to reshape its portfolio through an ambitious US$30 billion disposal programme. A more focused company will emerge, with a greater geographical concentration, a sharpened set of long-term resource opportunities and a streamlined downstream business, but we believe a lack of a material presence in low breakeven unconventionals relative to Supermajor peers will remain a significant portfolio gap.
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- Shell corporate report PDF - 2.69 MB 23 Pages, 9 Tables, 26 Figures
- Shell Corporate Report.xls XLS - 4.87 MB