Strategy update: Shell Capital Markets Day 2023

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Shell held its keenly anticipated Capital Markets Day (CMD23) on 14 June. It was the company’s first strategy update since February 2021 (SD21), and the first since Wael Sawan succeeded Ben van Beurden as CEO in January. In this note, we provide our take on the key points of guidance coming out of Shell's Capital Markets Day 2023.

Table of contents

Tables and charts

This report includes 7 images and tables including:

  • Shell cash capex guidance; latest (CMD23) vs previous (SD21); US$ billion and proportional
  • Shell free cash flow guidance (CMD23); latest (CMD23) by segment vs previous (SD21)
  • Shell guidance for shareholder distributions; Wood Mackenzie corporate cash flow breakeven
  • Shell oil & gas production, latest guidance (CMD23) vs previous (SD21) vs WoodMac base forecast
  • Key low carbon targets/aims, latest (CMD23) vs previous (SD21)

What's included

This report contains:

  • Document

    Strategy Update Shell Capital Markets Day 2023.pdf

    PDF 1.40 MB