Royal Dutch Shell plc second quarter 2014 results presentations
Jul 31, 2014
CEO video comment and webcast & presentations of the second quarter 2014 results as released on July 31, 2014.
CEO video comment
CEO video comment
Ben van Beurden, CEO of Shell, comments on the Q2 2014 results
Hello, I am Ben van Beurden, the CEO of Royal Dutch Shell.
Today I’d like to give you an overview of our second quarter 2014 results
and update you on the progress on our strategic priorities.
Firstly on the results.
Second quarter earnings, excluding identified items, were $6.1 billion
a 33% increase in CCS earnings per share versus the same quarter last year.
Our financial performance for the second quarter of 2014 was more robust than year-ago levels,
but there’s no complacency here, we want to see a more competitive performance from Shell.
We are making progress with the priorities that I set out at the start of 2014
to balance growth and returns
by focusing on better financial performance, enhanced capital efficiency,
and continued strong project delivery.
In North America resources plays where we have taken some impairments today
we see growth potential in Western Canada gas, linked to LNG
and in liquids rich shales in Western Canada and the Permian.
Shell’s Lower 48 dry gas positions, where we have established production
and further exploration potential, remain under review
and there could potentially be further asset sales there.
We are taking firm actions to improve Shell’s capital efficiency
by selling selected assets and making tougher project decisions.
We have completed some $8 billion of asset sales so far in 2014
and this is good progress against plans for $15 billion of asset sales in 2014 and 2015 combined.
On the portfolio growth side
we have continued to ramp up production at Mars B in the Gulf of Mexico
which averaged nearly 40,000 boe per day in the quarter
and our exploration programme is delivering, with new finds in the Gulf of Mexico and Malaysia.
We aim to grow cash flow through the cycle and deliver competitive shareholder returns.
Dividends are Shell’s main route for returning cash to shareholders
and we have distributed more than $11 billion of dividends in the last 12 months
and we are expecting that shareholder distributions buybacks
and dividends should exceed $30 billion over 2014 and 2015 combined.
All of this underlines the company’s recent improved performance and future potential.
Webcasts & presentations
Ben van Beurden, Chief Executive Officer of Royal Dutch Shell plc, hosted audio webcasts of the second quarter 2014 results on Thursday July 31.