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4-Traders Homepage  >  Equities  >  Euronext Amsterdam  >  Royal Dutch Shell    RDSA   GB00B03MLX29

ROYAL DUTCH SHELL (RDSA)
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ROYAL DUTCH SHELLA : Shell Remains Committed To Natural Gas Strategy - CEO Voser

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05/22/2012 | 01:51pm CEST

Royal Dutch Shell PLC (RDSB) believes rising natural gas demand will underpin its future profits, even though oil pricing still accounts for 80% of its margins, its Chief Executive Peter Voser said Tuesday.

The oil giant, which expects to produce more natural gas than crude oil for the first time this year, has invested heavily in gas assets in the U.S. and Australia. However, U.S. gas prices have fallen to decade-lows as new production techniques have resulted in a glut of supply from shale rock sources.

But despite this the long-term pricing outlook for natural gas remains strong, said Voser, as Asian-Pacific customers are increasingly switching from powering their industrial plants with oil to gas.

However "margins are driven 80% by the oil side," he said, referring to Shell's ability to transform gas into more valuable fuel products like diesel that sell at prices linked more closely to crude. The company, the world's largest shipper of liquefied natural gas, is also able to benefit from the difference in regional gas prices.

Voser also said Shell remains committed to the fully-integrated operating model, where a single oil company extracts, transports, refines and sells hydrocarbon products.

While some analysts have argued that major oil companies like Shell should sell off their refining businesses to better realize high commodity prices, Voser said the long-term outlook for the model was good.

"We will drive an integrated philosophy because that is where the future growth will lie," said Voser, who was addressing Shell's annual shareholder meeting.

-By Alexis Flynn, Dow Jones Newswires; +44 207 842 9471; [email protected]

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Financials ($)
Sales 2018 333 B
EBIT 2018 32 540 M
Net income 2018 21 420 M
Debt 2018 58 074 M
Yield 2018 5,31%
P/E ratio 2018 14,08
P/E ratio 2019 12,80
EV / Sales 2018 1,07x
EV / Sales 2019 1,01x
Capitalization 298 B
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 37,0 $
Spread / Average Target 4,8%
EPS Revisions
Managers
NameTitle
Bernardus Cornelis Adriana Margriet van Beurden Chief Executive Officer & Executive Director
Charles Otis Holliday Chairman
Jessica Rodgers Uhl Chief Financial Officer & Director
Harry Brekelmans Director-Technology & Projects
Gerardus Johannes Wijers Director
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1st jan.Capitalization (M$)
ROYAL DUTCH SHELL3.53%297 701
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ENI15.59%71 227