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Our strategy
Our strategy seeks to reinforce our position as a leader in the oil and gas industry in order to provide a competitive shareholder return while helping to meet global energy demand in a responsible way. Safety and corporate responsibility are at the heart of our activities.
Intense competition exists for access to upstream resources and to new downstream markets. But we believe our technology, project-delivery capability and operational excellence will remain key differentiators for our businesses.We expect around 75% of our capital investment in 2011 to be in our Upstream projects.
Meeting the growing demand for energy worldwide in ways that minimise environmental and social impact is a major challenge for the global energy industry. We are committed to improving energy efficiency in our own operations, supporting customers in managing their energy demands, and continuing to research and develop technologies that increase efficiency and reduce emissions in oil and gas production.
Our commitment to technology and innovation continues to be at the core of our strategy. As energy projects become more complex and more technically demanding, we believe our engineering expertise will be a deciding factor in the growth of our businesses. Our key strengths include the development and application of technology, the financial and project-management skills that allow us to deliver large oil and gas projects, and the management of integrated value chains. We leverage our diverse and global business portfolio and customer-focused businesses built around the strength of the Shell brand.
Strategy summary
Upstream
- Profitable growth; price upside
- >80% of total capital spending
- Sustained exploration investment
> More about our Upstream strategy
Downstream
- Stable capital employed
- Fewer refineries; upgrade chemicals assets
- More concentrated marketing positions
> More about our Downstream strategy
Financial outlook
- Generating surplus cashflow through cycle
- Investing for growth; competitive payout
- Substantial cashflow growth
