Royal Dutch Shell plc has underlined the important role downstream will play in delivering its world-class investment case.
"Our unique downstream business is fundamental to delivering a world-class investment case," said CEO Ben van Beurden. "Its unparalleled breadth, depth and the strength of our brand make our downstream business highly competitive, helping to generate strong free cash flows and returns while making Shell more resilient over the coming decades."
John Abbott, downstream director, said, "We have a customer-centric mindset and the most integrated downstream business in the world."
"This business will continue to create value for shareholders and customers. We believe our marketing business is the most profitable in the industry, and chemicals had a record year in 2017," Abbott said. "Downstream is helping Shell to thrive during the global shift to a lower-carbon energy system. We are making products from today's technologies as good as they can be, with better fuels and lubricants. We are also helping to deliver tomorrow's products, services and technologies from battery-electric vehicle charging to next-generation biofuels, LNG for transport to hydrogen and smartphone apps that enable more efficient driving. We are also working to reduce emissions from our own operations."
Shell reiterated its expectation of $6 billion-$7 billion annual organic free cash flow from downstream by 2020, at $60 per barrel (real terms 2016) and mid-cycle downstream conditions, with $9 billion-$12 billion expected by 2025. The company plans to invest $7 billion-$ 9 billion a year across downstream.
For more information, visit www.shell.com or call +31 70 377 9111.
