shell annual report

 

We are affected by the global macroeconomic environment and the conditions of financial and commodity markets. We continue to develop and maintain a trade compliance programme with adequate resources, a comprehensive governance structure and established reporting lines. share share. While we expect the earlier closing down of the Groningen gas field to further reduce the number and strength of earthquakes in the region, any additional earthquakes could have further adverse effects on our earnings, cash flows and financial condition. How are we transforming our business? Over the past week, ExxonMobil, BP, and Shell have released annual reports showing huge damage from 2020. A printed copy of our Annual Report can be ordered free of charge. This announcement should be read in conjunction with, and is not a substitute for reading, the full 2020 Annual Report and Accounts. Disclosures in relation to the related party transactions are set out on page 185 of the 2020 Annual Report and Accounts. Management believes it has access to sufficient debt funding sources (capital markets) and to undrawn committed borrowing facilities to meet foreseeable requirements. The 2019 Annual Report and Form 20-F, the 2019 Sustainability Report and the 2019 Investors' Handbook are available on our report website. Read the report page by page using the arrows at the top. This includes a number of fines by the European Commission Directorate-General for Competition (DG COMP). We do it to be open and honest, and to demonstrate how we are contributing to sustainable development. Estimates also change to reflect acquisitions, divestments, new discoveries, extensions of existing fields and mines, and improved recovery techniques. It consists of the businesses of Upstream, Integrated Gas, Downstream, and Projects & Technology. Reporting We have voluntarily reported – openly and honestly - on our environmental and social performance since 1997. On February 27, 2020 the fully-consolidated Shell Midstream Partners, L.P. (SHLX) signed an agreement with its Shell-controlled general partner to eliminate all incentive distribution rights and economic general partner interest in SHLX and convert the general partner’s two per cent general partner interest in SHLX into a non-economic general partner interest in SHLX. Oil and gas prices can also move independently of each other. 2009 Quarter 2 Report. Failure to replace proved reserves could result in an accelerated decrease of future production, potentially having a material adverse effect on our earnings, cash flows and financial condition. 2020 Fourth Quarter Financial Results Call. Report identifies divestment and climate litigation as material risks to the company’s bottom line . If we are slower than society, customers may prefer a different supplier which would adversely impact our reputation and demand for our products. PRINCIPLE 2: COMPETITION Shell companies support free enterprise. We continue to address challenges with compliance in data-heavy companies controlled by Shell but not fully integrated into our systems. The TSM Governance Team examines opportunities for improving the mining industry’s performance and reputation with key communities of interest. Assurance. The Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of Shell and the Company and of the profit or loss of Shell and the Company for that period. In certain circumstances, directors may receive director disqualification orders. Violations of anti-bribery, tax-evasion and anti-money laundering laws carry fines and expose us and/or our employees to criminal sanctions, civil suits and ancillary consequences (such as debarment and the revocation of licences). Other than in exceptional cases, the use of external derivative instruments is confined to specialist trading and central treasury organisations that have the appropriate skills, experience, supervision, control and reporting systems. This would result in increased pressure on our cash position and potential impairments. We have substantial pension commitments, the funding of which is subject to capital market risks and other factors. Political or economic instability affects such markets. The number and breadth of such laws continue to expand. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. These factors continue to contribute to potential breaches and disruptions of critical IT services. We monitor the security situation, and liaise with host communities, governmental and non-governmental organisations to help promote peaceful and safe operations. We use our subsurface, project and technical expertise, and actively manage non-technical risks across a diversified portfolio of opportunities and projects. Reporting We have voluntarily reported – openly and honestly - on our environmental and social performance since 1997. We conduct detailed assessments for all our sites and activities, and implement appropriate measures to deter, detect and respond to security risks. Accordingly, when bidding on new leases or projects, we could find ourselves at a competitive disadvantage because these state-owned entities may not require a competitive return. The new technology is developed to ensure portfolio alignment with Shell’s strategic ambitions and deployment commitments. The Directors consider that the Annual Report, including the financial statements, taken as a whole, is fair, balanced and understandable and provides the information necessary for shareholders to assess Shell’s position and performance, business model and strategy. LINDA M. COULTER Company Secretary March 10, 2021, LEI number of Royal Dutch Shell plc: 21380068P1DRHMJ8KU70 Classification: Annual financial and audit reports, International: +44 20 7934 5550 Americas: +1 713 241 4544. Text only list of upcoming events . Introduction The Annual Report for 2019 is provided to the community of Shell Cove Public School as an account of the school's operations and achievements throughout the year. Khaliquzzaman Road Karachi - 75530 Pakistan. In compliance with 9.6.1 of the Listing Rules, on March 11, 2021, a copy of the 2020 Annual Report and Accounts was submitted to the National Storage Mechanism. Governments could require operators to adjust their future production plans, as has occurred in the Netherlands, affecting production and costs. The estimation of proved oil and gas reserves involves subjective judgements based on available information and the application of complex rules. The 2020 Annual Report and Accounts can be downloaded from www.shell.com/annualreport. Our country chairs are responsible for the implementation of country reputation plans which are updated annually. Downstream main activity is in the manufacturing, marketing and distribution of oil products namely various grade … These rules are part of a group wide global programme to ensure consistent levels of data protection across the group. We are exposed to treasury and trading risks, including liquidity risk, interest rate risk, foreign exchange risk and credit risk. Annual Report 2009 - Chairman's Review. The Directors are responsible for the maintenance and integrity of the Shell website (www.shell.com). See “Our people” on pages 108, “Other Regulatory and Statutory Information” on page 182 and Note 25 to the “Consolidated Financial Statements” on pages 260. Prolonged periods of low oil and gas prices, or rising costs, have resulted and could continue to result in projects being delayed or cancelled. If our assumptions prove to be incorrect, it could have a material adverse effect on our earnings, cash flows and financial condition. We use marking to fair value to assess trading exposures where appropriate, with a department that is independent of the traders reviewing the market values applied. Financial reports and articles of association Shell International Finance B.V. Fourth quarter 2020 results – February 4, 2021, 4 tips to excel in a Shell face-to-face interview, 7 tips to prepare Students & Graduates for an online video Interview, 10 employees share their first week at Shell, 9 ways to help you find the right career path, Find a Job in the Shell Graduate Programme, Shell publishes Annual Report and Accounts, https://data.fca.org.uk/#/nsm/nationalstoragemechanism, www.shell.com/investors/financial-reporting/sec-filings.html, Shell share of joint ventures and associates, Attributable to non-controlling interest in Shell subsidiaries. The effectiveness of the trade compliance programme is assessed annually (or more frequently if necessary). These policies include detailed credit analysis and monitoring of customers against counterparty credit limits. This involves adopting an integrated approach for all stages, from basin choice to development. According to press reports, some financial institutions have started to limit their exposure to certain fossil fuel projects. Royal Dutch Shell plc filed its Annual Report on Form 20-F for the year ended December 31, 2014 with the U.S. Securities and Exchange Commission. Shell Upstream concentrate on the efficient development and extraction of crude oil and natural gas offshore. Prolonged periods of low oil and gas prices could adversely affect the financial, fiscal, legal, political and social stability of countries that rely significantly on oil and gas revenue. Low oil and gas prices could also affect our ability to maintain our long-term capital investment programme and dividend payments. Technology and innovation are essential to our efforts to meet the world’s energy demands competitively. The Internal Audit function also provides further assurance through audits of the control framework, including the information disclosed in ‘’Supplementary information – oil and gas (unaudited). Tensions between nation states can also affect our business. Shell and its joint arrangements and associates have been fined for violations of antitrust and competition laws in the past. 11-Mar-2021 Royal Dutch Shell plc published its Annual Report and Accounts for the year ended December 31, 2020. These include compensating for damage caused by the earthquakes and paying to strengthen houses where this is required for safety considerations. Investors. See “Liquidity and capital resources” on page 81 and Note 19 to the “Consolidated Financial Statements” on pages 251-255. Consult our most recent Annual Report, our Form 20-F, and our Investors' Handbook to get the latest results on both our operational and fiscal performance. Pilipinas Shell Annual and Sustainability Report 2019; View Pilipinas Shell Annual and Sustainability Report 2019; Bitumen FreshAir Debuts in Bohol; First Integrated Hydrogen Manufacturing Facility in the Philippines; Be Well: Promoting a Speak-up Culture; Bida sa Kalsada: Shell Rimula Tsuperstar; Your Neighborhood Next-Gen Retail Station A pensions forum chaired by the Chief Financial Officer oversees Shell’s input to pension strategy, policy and operation. We test the resilience of our projects and other opportunities against a range of prices and costs for crude oil, natural gas, oil products and chemicals. Shell Pakistan Limited Annual Report ‘15 FUELLING JOURNEYS, DRIVING CONNECTIONS Shell Pakistan Limited Shell House 6, Ch. We test the economic and operational resilience of our Nigerian projects against a wide range of assumptions and scenarios. Shell only controls its own emissions. Our portfolio of cash investments is diversified to avoid concentrating risk in any one instrument, country or counterparty. Further mitigations include strengthening the security of sites, reducing our exposure as appropriate, journey management, information risk management, crisis management and business continuity measures. Sometimes the development of new technology is subject to delays. Annual Reports and publications. See “Other regulatory and statutory information” on page 182. Local trustees manage the funded defined benefit pension plans, and the contributions paid are based on independent actuarial valuations that align with local regulations. Downward adjustments could indicate lower future production volumes and could also lead to impairment of assets. We use competitive techniques and benchmark our approach internally and externally. Potential risks include: acts of terrorism; acts of criminality including maritime piracy; cyber-espionage or disruptive cyber-attacks; conflicts including war, civil unrest and environmental and climate activism (including disruptions by non-governmental and political organisations). The above risks can threaten the safe operation of our facilities and the transport of our products. The operation of many of our business processes depends on reliable information technology (IT) systems. We are exposed to commodity trading risks, including market and operational risks. Such insurance would not provide any material coverage in the event of a large-scale safety or environmental incident. Our reputation is an important asset. They both depend on various assumptions. Therefore, if HSSE risks materialise, they could have a material adverse effect on our earnings, cash flows and financial condition. We have credit risk policies in place which seek to ensure that products are sold to customers with appropriate creditworthiness. 2018 Annual Report (PDF, size 13MB) 2018 SEC … We also aim to maintain a strong balance sheet to provide resilience against weak market prices. Our Annual Report, Sustainability Report, Tax Contribution Report and other annual publications are available online and as PDF download. We use debt instruments, such as bonds and commercial paper, to raise significant amounts of capital. In a low oil and gas price environment, we would generate less revenue from our Upstream and Integrated Gas businesses, and parts of those businesses could become less profitable or incur losses. We maintain an antitrust programme with adequate resources, a comprehensive governance structure and established reporting lines. IT remediation work remains a priority in such companies, as does the strengthening of programmes to support data privacy compliance. We have a climate change risk management structure which is supported by standards, policies and controls, as part of our health, safety, security and environment and social performance (HSSE & SP) control framework. 12-Mar-2020. Some governments require immediate disclosure of information, including sensitive personal data, to identify infected individuals, with some mandating technologies such as tracing applications on all devices, including corporate mobile phones. In some cases, we have also retained certain liabilities following a divestment. In effecting commodity trades and derivative contracts, the company operates within procedures and policies designed to ensure that risks are managed within authorised limits. Some of these earthquakes have damaged houses and other structures in the region, resulting in complaints and lawsuits from the local community. If the breaches are not detected early and responded to effectively, they could harm our reputation and have a material adverse effect on our earnings, cash flows and financial condition. Shell must be able to adapt dynamically to such legislative changes and be capable of updating our internal programmes if necessary. We maintain committed credit facilities. On this page, TOTAL SE gives you access to its annual reports, and notably the Universal Registration Document (ex Registration Document) including the Annual Financial Report. Royal Dutch Shell plc is not incorporating by reference into those extracts or the 2020 Annual Report and Accounts any information posted on www.shell.com or in the Shell Sustainability Report. In addition to imposing fines, regulators may also issue orders to stop processing personal data, which could disrupt operations. These ranges help us to evaluate the robustness of our capital allocation for our evaluation of projects and commercial opportunities. We maintain a data privacy programme with adequate resources, a comprehensive governance structure and established reporting lines. Read the full, comprehensive operational and financial report for the year ended December 31, 2018. The Shell Center for Sustainability is a sustainable development research partnership between Rice University and Shell Oil Company. Accordingly, where we have limited influence, we are exposed to operational risks that could have a material adverse effect on our earnings, cash flows and financial condition. A further erosion of the business and operating environment in Nigeria could have a material adverse effect on us. In the crude oil, natural gas, Oil Products and Chemicals businesses we seek to differentiate our products, but many of them are competing in commodity-type markets. For example, our partners or members of a joint arrangement or an associate, (particularly local partners in developing countries), may be unable to meet their financial or other obligations to projects, threatening the viability of a given project. Pilipinas Shell Annual and Sustainability Report 2019; View Pilipinas Shell Annual and Sustainability Report 2019; Bitumen FreshAir Debuts in Bohol; First Integrated Hydrogen Manufacturing Facility in the Philippines; Be Well: Promoting a Speak-up Culture; Bida sa Kalsada: Shell Rimula Tsuperstar; Your Neighborhood Next-Gen Retail Station The 2019. Societal demand for urgent action has increased especially after the Intergovernmental Panel on Climate Change (IPCC) 1.5°C special report of 2018 and the Paris Agreement’s goal to keep the rise in global average temperature this century to well below two degrees Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5 degrees Celsius.