Royal Dutch Shell

Ticker RDSB

Today's data summary

Market open
% change
+3.32%
Price Pence
1275.20
Change
+41.00
As of 11:21 01 Dec 2020
Market cap. Pound sterling
47,283.49 million
As of 11:21 01 Dec 2020

Latest updates

  1. Oil company stocks knocked down in market open

    oil refineries

    BP and Royal Dutch Shell have both tumbled by 20%.

    Oil exploration companies suffered a devastating rout.

    UK oil company stocks sunk sharply in early trading. Tullow Oil fell 57% to 11.57 - its lowest level since 2004 and Premier Oil dropped 67% to 20.30.

  2. Profits fall at Shell

    Shell tanker

    Profits at oil giant Royal Dutch Shell fell last year as the price of oil and gas declined.

    Shell said annual earnings attributable to shareholders sank by 36% $15.3bn (£11.8bn), with earnings in the final quarter of the year tumbling 88% to $871m.

    Its fourth quarter profits were hit by charges the company took for impairments on its onshore natural gas fields in North America.

    Chief executive Ben van Beurden said Shell still intended to complete its $25bn share buyback programme but warned the pace of it could slow.

    "Our intention to complete the $25bn share buyback programme is unchanged, but the pace remains subject to macro conditions and further debt reduction," he said.

  3. Good morning!

    Welcome to Business Live.

    The Bank of England will announce at midday whether it will hold or cut the interest rate from its current 0.75%. It will also be the final rate announcement led by governor Mark Carney before he steps down.

    After the government said it will renationalise Northern rail, it is now set to give the green light to HS2 - Chancellor Sajid Javid has thrown his backing behind the controversial project.

    The number of people infected by the coronavirus is continuing to rise and with that, so are the concerns about what impact it will have on the global economy.

    On the results calendar is consumer goods giant Unilever, oil major Shell, telecoms group BT, drinks firm Diageo and estate agency Foxtons.

    Over in the US, expect financials from online retail giant Amazon, Coca-Cola and Levi's.

    As always, we'd love to hear from you. Email Business Live at bizlivepage@bbc.co.uk

  4. Can an oil firm be environmentally sound?

    BBC Radio 5 Live

    oil

    Sinead Lynch, Shell UK chair, chatted to 5 live about how Shell is trying to be more environmentally friendly.

    "We have to transform," she admits. "we are rolling out rapid electric vehicle charging," she said, as well as offering carbon-neutral offsetting for customers.

    Is it enough, however? Shell is still an oil company, really. It is spending up to $2bn year on green initiatives, out of a total of $25bn capital investing, with the remainder spent on oil and gas. So, 8% on green initiatives. When will Shell, one of the top polluters in the world, be carbon neutral?

    It will reduce its net carbon output by 50% by 2050, she says. Oil and gas will be needed for a while, she adds.

  5. Video content

    Video caption: Climate change: Extinction Rebellion blocks Shell's Aberdeen HQ

    Extinction Rebellion protesters arrived at the base in Altens on Thursday morning.

  6. Oil prices trim gains

    Oil prices have fallen back a little from earlier rises.

    Brent crude is now up 1.2% at $69.42 a barrel and West Texas Intermediate is ahead 0.95% at $63.65.

    Oil giant BP remained at the top of the FTSE 100 risers with its share price up 1.8% at 503.1p. Shell's share price is up 1% at £23.22.

  7. Oil giants lead FTSE 100 risers

    BP logo on building

    Oil companies dominate the FTSE 100 risers this morning as tensions between the US, Iran and Iraq sent crude prices higher.

    BP's share price is up 1.9% at 503.9p while Shell's stock is ahead 1.5% at £23.32.

    Morrisons is one of the biggest blue chip fallers, down 3.5% at 191.97p, ahead of its Christmas trading figures which are due out on Tuesday.

    The supermarket group is expected to report like-for-like sales down 2.5% for the nine weeks to 5 January, according to analysts at Barclays.

    The FTSE 100 is down 0.91% at 7,553.25.

  8. Update from Shell

    shell

    Anglo-Dutch company Shell has issued a fourth quarter trading update it which it says its post-tax impairment charges are expected to be in the range of $1.7bn (£1.3bn) to $2.3bn

    For the full year, its 2019 cash capital expenditure is expected to be around the lower end of the $24-29 billion range.

  9. What's in the papers?

    from page of the Mirror

    That Whirlpool story has made the front page of the Daily Mirror, as shown in the BBC's paper review which is here.

    On the front page of the Financial Times is a story about the oil company Royal Dutch Shell paying no corporate income tax in the UK in 2018 despite generating pre-tax profits of nearly $731m, after receiving tax refunds related to the decommissioning of North Sea oil platforms.

    It quotes Jessica Uhl, Shell’s chief financial officer: "Shell is committed to compliance. Specifically, we seek to comply with the applicable tax laws in all the countries and locations in which we have a taxable presence".