Shell (SHEL) Company Report

Analyst Coverage

Research analysts who have asked questions during Shell earnings calls.

Biraj Borkhataria

Royal Bank of Canada

7 questions for SHEL

Also covers: BP, CVX, E +3 more

Christopher Kuplent

Bank of America

7 questions for SHEL

Also covers: BP, EQNR, TS +1 more

Lydia Rainforth

UBS

6 questions for SHEL

Also covers: BP, E, EQNR +1 more

Martijn Rats

Morgan Stanley

6 questions for SHEL

Also covers: BP, E, EQNR +1 more

Michele Della Vigna

Goldman Sachs

6 questions for SHEL

Also covers: BP, E, EQNR +2 more

Peter Low

Redburn Atlantic

6 questions for SHEL

Also covers: , BP, E +3 more

Lucas Herrmann

BNP Paribas

5 questions for SHEL

Also covers: BP, CVX, TTE

Ryan Todd

Simmons Energy

5 questions for SHEL

Also covers: BP, COP, CVX +9 more

Alastair Syme

Citigroup

4 questions for SHEL

Also covers: BP, COP, CVX +4 more

Doug Leggate

Wolfe Research

4 questions for SHEL

Also covers: APA, AR, BP +21 more

Irene Himona

Sanford C. Bernstein

4 questions for SHEL

Also covers: BP, E, EQNR +1 more

Joshua Eliot Stone

UBS

4 questions for SHEL

Also covers: BP, E, OMVKY

Paul Cheng

Scotiabank

4 questions for SHEL

Also covers: APA, BP, CLNE +20 more

Giacomo Romeo

Jefferies

3 questions for SHEL

Also covers: BP, E, EQNR +1 more

Kim Fustier

HSBC

3 questions for SHEL

Also covers: BP, E, EQNR +1 more

Matthew Lofting

JPMorgan

3 questions for SHEL

Also covers: BP, E, EQNR +2 more

Matt Lofting

JPMorgan Chase & Co.

3 questions for SHEL

Also covers: E, EQNR, TTE

Douglas George Blyth Leggate

Wolfe Research

2 questions for SHEL

Also covers: APA, BP, COP +18 more

Jason Gabelman

TD Cowen

2 questions for SHEL

Also covers: BP, CLMT, CLNE +19 more

Joshua Stone

UBS Group AG

2 questions for SHEL

Also covers: BP, E, OMVKY

Mark Wilson

Jefferies

2 questions for SHEL

Also covers: BP, FTI, KOS

Roger Read

Wells Fargo & Company

2 questions for SHEL

Also covers: APA, AR, BP +22 more

Alastair Roderick Syme

Citi

1 question for SHEL

Henry Tarr

Berenberg

1 question for SHEL

Also covers: , BP, E +2 more

Josh Stone

UBS

1 question for SHEL

Also covers: BP

Lydia Rose Emma Rainforth

Barclays

1 question for SHEL

Matthew Peter Charles Lofting

JPMorgan Chase & Co.

1 question for SHEL

Latest news

Recent press releases and 8-K filings for SHEL.

Shell Enters North Sea Oil Offtake Agreement with DNO

SHEL

New Projects/Investments

Debt Issuance

Shell plc subsidiaries have entered an agreement with DNO ASA to place DNO's North Sea oil production, effective January 1, 2026.
The agreement with Shell Trading and Shipping Company Limited (STASCO) covers approximately half of DNO's North Sea oil output.
This agreement has an initial tenor of one year and includes a related prepayment facility with a European bank of up to USD 225 million.

Dec 18, 2025, 6:00 AM

Press Release

Shell Seeks Partner for Brazil Offshore Project

SHEL

New Projects/Investments

M&A

Shell is seeking to divest a 20% stake in its Gato do Mato oilfield cluster in Brazil to help fund the project's multibillion-dollar offshore development.
The Gato do Mato project, now comprising the Orca and Sul fields, is projected to start production in 2029 with an anticipated capacity of 120,000 barrels per day.
The development cost is estimated at nearly $3 billion, and this project is vital for Shell to sustain its position as a leading oil producer in Brazil.

Dec 9, 2025, 2:16 PM

Bloomberg

Shell plc Announces Final Results of Exchange Offers

SHEL

Debt Issuance

Shell plc announced the final results of its Exchange Offers for notes issued by Shell International Finance B.V. and BG Energy Capital plc.
The Exchange Offers were conducted to optimize the Shell Group's capital structure by migrating existing Old Notes to Shell Finance US Inc., aligning indebtedness with its U.S. business.
A total aggregate principal amount of $6,347,729,000 of Old Notes was validly tendered and accepted for exchange.
The settlement and issuance of the new notes are expected to occur on December 8, 2025.

Dec 4, 2025, 11:10 AM

6-K

Shell plc Announces Share Repurchases in November 2025

SHEL

Share Buyback

Shell plc purchased a total of 14,735,409 shares for cancellation across the LSE and XAMS venues on various dates in November 2025.
These share purchases are part of an existing buy-back programme that was previously announced on October 30, 2025.
Merrill Lynch International is independently managing the trading decisions for this programme from October 30, 2025, up to and including January 30, 2026.

Dec 2, 2025, 5:42 PM

6-K

Shell plc Announces Early Participation Results and Extension of Exchange Offer Premium

SHEL

Debt Issuance

Shell plc announced that $6,222,581,000 in Old Notes were validly tendered by the November 17, 2025, Early Participation Deadline for its Exchange Offers.
The company has extended the Early Participation Premium to all eligible holders who tender Old Notes by the final Expiration Time of December 3, 2025, 5:00 p.m., New York City time.
The Exchange Offers aim to optimize Shell Group's capital structure by migrating existing notes from Shell International Finance and BGEC to Shell Finance US, aligning indebtedness with its U.S. business.
Eligible holders will receive $1,000 principal amount of corresponding New Notes and a $1.00 cash component for each $1,000 principal amount of Old Notes tendered.

Nov 18, 2025, 11:27 AM

6-K

Shell Divests Volta Media Network to JOLT

SHEL

M&A

New Projects/Investments

JOLT is set to acquire a significant portion of the Volta Media Network from Shell, marking its official entry into the US market and expanding its footprint to 34 states and 64 designated marketing areas.
This acquisition will create the world's largest combined electric vehicle (EV) charging and digital out-of-home (DOOH) network, operating across Australia, New Zealand, Canada, the UK, and the US.
Shell's shares declined by 0.3% initially and then by another 0.7% during the announcement period, influenced by a broader downturn in energy shares linked to falling oil prices.
The integration builds on JOLT's model of combining EV charging with DOOH advertising, aiming to accelerate the transition to electric vehicles and provide advertisers with global scale and data-driven insights.

Nov 12, 2025, 2:55 PM

Morningstar

CMG Signs Multi-Year Software Licensing Agreement with Shell

SHEL

Product Launch

New Projects/Investments

Computer Modelling Group Ltd. (CMG) has entered into a multi-year software licensing agreement with Shell for CMG's suite of simulation solutions.
The agreement specifically includes CoFlow™, which is described as the industry's first enterprise solution integrating reservoir and production simulation workflows.
This milestone signifies the transition of CoFlow™ from a joint research initiative to a full commercial software product, following over a decade of collaboration between CMG and Shell.

Nov 10, 2025, 11:55 AM

Press Release

Shell Withdraws from Scottish Offshore Wind Projects

SHEL

New Projects/Investments

M&A

Shell Plc has withdrawn from two offshore wind projects off the coast of Scotland, selling its 50% stake in MarramWind and returning the CampionWind lease, as part of a strategy to reduce significant investments in renewable energy.
This move reflects a strategic shift back to its core oil and gas business, driven by rising development costs, regulatory challenges, high interest rates, and a prioritization of energy security and affordability.
Despite these withdrawals, Shell maintains a robust financial position with a market capitalization exceeding $214 billion and globally diversified oil and gas production and reserves.

Nov 10, 2025, 10:47 AM

Bloomberg

Shell plc Announces Issuance of Guaranteed Notes

SHEL

Debt Issuance

Shell Finance US Inc., with guarantees from Shell plc, entered into an underwriting agreement on November 3, 2025, for the issuance of new guaranteed notes.
The notes issued include Floating Rate Guaranteed Notes due 2030, 4.125% Guaranteed Notes due 2030, and 4.750% Guaranteed Notes due 2036.
The aggregate principal amount of these notes totals US $2,350,000,000, consisting of US $350,000,000 for the Floating Rate Notes, US $1,000,000,000 for the 4.125% Notes, and US $1,000,000,000 for the 4.750% Notes.

Nov 6, 2025, 9:29 PM

6-K

Shell plc Announces Share Buyback Activities in October 2025

SHEL

Share Buyback

Shell plc engaged in share buyback activities for cancellation throughout October 2025, purchasing a total of 14,631,333 shares.
The company completed purchases under a program announced on July 31, 2025, managed by HSBC Bank plc, which ran until October 24, 2025. Under this program, 13,264,176 shares were bought between October 3 and October 21, 2025.
A new share buy-back program was announced and commenced on October 30, 2025, with Merrill Lynch International managing trading decisions until January 30, 2026. On its first day, 1,367,157 shares were purchased under this new program.