RICHARD GRIFFITH | EVOLUTION SECURITIES
Dare we say it but things appear to be going very smoothly for Shell. Key projects are ramping up on time, there appears to be no operation reliability issues and it is making play opening exploration discoveries. It is in a sweet spot and should continue to get stronger as over 20 major projects come on stream.
RICHARD HUNTER | HARGREAVES LANDSDOWN
One market adage... is “Never sell Shell”. Today’s update is a timely reminder why this is still the case. A doubling of earnings has been possible through both higher oil prices and stronger refining margins. Shell’s aggressive investment policy continues apace, helped along by the extra income it has generated.
IAIN ARMSTRONG | BREWIN DOLPHIN
We are talking about a cash machine here. I believe that the conditions within the company, with a sharp change in underlying trading, would suggest that they will be free cash flow positive next year, which gives them the opportunity to hand money back to shareholders in the form of higher dividends next year.