Shell Global

Shell Global, (AMS: SHELL) is one of the big five oil and gas companies, headquartered in London. It is Europe’s largest energy company and the world’s largest mobility retailer by number of sites, having served ~33 million customers at over 47,000 retail stations daily as of March 2024. Shell produced 1.8 million barrels of oil equivalent per day (boe/d) in its upstream business and 0.9 million boe/d of gas in 2023. The company is also listed on the LSE and the NYSE. Shell generated USD 317 billion in revenue in 2023. 

Shell operates through five main segments: 1) Upstream encompasses the exploration and extraction of crude oil, natural gas, and natural gas liquids; 2) Integrated Gas offers liquefied natural gas (LNG) and converts natural gas into gas-to-liquids (GTL) fuels and other products; 3) Marketing includes the Mobility (Shell's retail network, which also includes electric vehicle charging services), Lubricants, as well as Sectors and Decarbonisation businesses (which offer fuels, specialty products, and services, including low-carbon energy solutions); 4) Chemicals and Products includes refineries which turn crude oil and other feedstocks into a range of products and chemical manufacturing plants with their marketing network; and 5) Renewables and Energy Solutions includes Shell's Integrated Power activities, digitally enabled customer solutions, decarbonized hydrogen, the development of commercial carbon capture and storage hubs, the trading of carbon credits, and investment in nature-based projects. 

Europe constituted Shell's largest market in 2023 (~37% of total revenue). The company adheres to a "Powering Progress" strategy, aiming to provide secure and affordable energy with progressively lower emissions in a profitable manner, aligning with its goal of reaching net-zero emissions by 2050. To support low-carbon energy solutions, including biofuels, hydrogen, electric vehicle charging, and carbon capture and storage, Shell plans to invest USD 10 billion–15 billion between 2023 and 2025. Additionally, the company aims to achieve structural cost reductions of USD 2 billion–3 billion by the end of 2025 through exit from high-cost and lower-return businesses.