Shell expands its worldwide presence by re-entering the Italian market through a brand licence agreement with PAD Multienergy, one of Italy’s leading fuel retailers. As part of the agreement, PAD Multienergy will rebrand 500 service stations across Italy to the Shell brand. The first site is expected to open in March, with more sites to be rebranded in the following months.

The agreement with PAD Multienergy will help Shell to take a material position in the mobility market across Italy by offering customers a wide range of lower-carbon products and services.

Customers in Italy will soon have access to Shell’s premium products including Shell V-Power and Shell Lubricants. Fleet customers will be able to use the hybrid Shell Card to access Shell mobility solutions and one of the largest networks of service stations and charging offer with 24,000 locations.

Over time, Shell and PAD Multienergy will incrementally increase their offer of lower-emission fuels including biofuels, liquefied natural gas (LNG) and charging points for electric vehicles. A growing number of stations will become mobility hubs, offering the diverse solutions needed for the energy transition.

Giorgio Delpiano, Senior Vice President, Shell Fleet Solutions and E-Mobility said: “We are excited about re-establishing our retail presence in Italy. The Shell brand stands for quality, service and innovation and soon Shell intends to offer Italian motorists more solutions for their journeys, including EV charging and lower-carbon fuels. This agreement is yet another part our commitment to maintaining our position as the world’s leading mobility retailer and our ambition to be present in over 90 markets by 2025.”

Federico Petrolini, CEO of PAD Multienergy said: “The collaboration with Shell will allow us to introduce innovative products and services that will now be available to Italian users. Shell's consolidated know-how represents an important opportunity to strengthen our presence on the Italian market, above all through new collaborations with operators in the industry.”

Shell has had a presence in Italy for more than 100 years and is currently one of the main energy suppliers on the Italian market and one of the leaders in lubricants.

Notes for editors:

About Shell:

Shell is the world's largest mobility retailer. Currently, it has a presence in over 80 markets with 46,000 service stations visited by over 30 million daily customers. Shell has targets for supplying more low-emission fuels by 2025 as part of its broader target of becoming a net-zero emissions energy business by 2050, in step with society’s progress in achieving the goal of the UN Paris Agreement on climate change1.

About PAD Multienergy: 

PAD Multienergy SpA was established as an evolution of Petrolifera Adriatica, a historic leader in the distribution and marketing of traditional and innovative fuels and “non-oil” services (cafes, restaurants, car washes). Thanks to the contribution of its two partners, Goldengas Group and Brixia Group, PAD Multienergy now has over 700 fuel distribution stations in northern and central Italy.

1 Shell’s operating plan, outlook and budgets are forecasted for a ten-year period and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, Shell’s operating plans, outlooks, budgets and pricing assumptions do not reflect our net-zero emissions target. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans, outlooks, budgets and pricing assumptions to reflect this movement.

Cautionary Note

The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this release “Shell”, “Shell Group” and “Group” are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this release refer to entities over which Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

This release contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”, “ambition”, ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’, “milestones”, ‘‘objectives’’, ‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this release, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak; and (n) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc’s Form 20-F for the year ended December 31, 2020 (available at www.shell.com/investor and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this release and should be considered by the reader. Each forward-looking statement speaks only as of the date of this release, February 11, 2022. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this release.

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We may have used certain terms, such as resources, in this release that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.

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