Shell News – 2012

News summaries from company press releases and from unaffiliated news agencies are provided below. The summaries are sorted by month and are further categorized as upstream news, downstream news, and business/finance news.

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January

• Upstream news:

- Production has resumed from Nigeria's offshore Bonga oilfield, Royal Dutch Shell said. The company said in a statement output resumed on Jan. 1. The clean-up of an oil spill that occurred on Dec. 20 had now been completed, it added

• Downstream news:

-Indian utility Reliance Power, controlled by billionaire Anil Ambani, is in talks with energy major Royal Dutch Shell to jointly set up a liquefied natural gas (LNG) terminal to secure supplies for its gas-fired power plant, a person with direct knowledge of the matter said. The Economic Times reported the two companies were in talks to jointly set up an LNG terminal. A Shell India spokeswoman did not respond to phone calls seeking comment. Reliance Power is holding talks with Shell to form a joint venture in which the two companies will hold equal stake and Kakinada port in the southern Andhra Pradesh state will own a minority stake, the source with knowledge of the matter said. The proposed venture will likely invest 30 billion rupees($564.92 million) to set up an LNG terminal at Kakinada on India's east coast and would import and supply gas initially to Reliance Power's 2400-megawatt, gas-fired plant in Andhra Pradesh, slated to come onstream in 2012, the source said. India's gas-based power plants are facing uncertainty over fuel supply as gas output from the D6 block operated by Reliance Industries, off India's east coast, has declined, forcing power producers to look for other substitutes. Shares in Reliance Power, valued at $3.7 billion, ended up 3.57 percent at 72.45 rupees on Tuesday in a Mumbai market that gained 2.72 percent.

• Business/Finance news:

February

• Upstream news:

- Shell announces a successful appraisal operation at its Appomattox discovery in the deepwater Gulf of Mexico. The appraisal well in Mississippi Canyon block 348, in approximately 7,257 feet of water, was drilled to a total depth of 25,851 feet and encountered approximately 150 feet of oil pay. The announcement builds on Shell’s initial success at the Appomattox discovery well in Mississippi Canyon Block 392, completed in early 2010. Shell (80% WI and operator) and Nexen (20% WI) will continue to appraise Appomattox in 2012 with an appraisal well in the southwest fault block and a sidetrack appraisal into the northwest fault block to further delineate the hydrocarbon accumulation. Further Appomattox and Vicksburg appraisals, if warranted, may extend into early 2013.

- Woodside Petroleum , Australia's biggest oil and gas company, reported a 17 percent rise in annual profit before one-offs, just below market forecasts, and said it was in talks to line up supply for an expansion of its Pluto LNG project. Woodside, 24 percent owned by Royal Dutch Shell, has three multi-billion dollar LNG projects it wants to develop and is considering selling down part of its 50 percent holding in the Browse LNG project to cut its share of the costs. Underlying profit rose to $1.655 billion in 2011 from $1.418 billion a year earlier, compared with a consensus forecast of $1.684 billion, according to Thomson Reuters I/B/E/S. Woodside maintained its target for 2012 production at 73 to 81 million barrels of oil equivalent, including 17 to 21 mmboe from Pluto. It produced 64.6 mmboe last year. Woodside's shares have jumped 16 percent so far this year on the back of soaring oil prices, outstripping a 3.4 percent rise in the broader market.

• Downstream news:

• Business/Finance news:

- The Board of Royal Dutch Shell plc (“RDS”) announced an interim dividend in respect of the fourth quarter of 2011 of US$0.42 per A ordinary share (“A Share”) and B ordinary share (“B Share”), equal to the US dollar dividend for the same quarter last year. The Board expects that the first quarter 2012 interim dividend will be US$0.43, an increase of 2% over the US dollar dividend for the same quarter in the previous year. The first quarter 2012 interim dividend is scheduled to be announced on April 26, 2012.

- At 07.00 GMT (08.00 CET and 02.00 EST) on Thursday 2 February, 2012 Royal Dutch Shell plc released its fourth quarter and full year results and fourth quarter interim dividend announcement for 2011.

- Royal Dutch Shell says oil could fall to $70 a barrel this year, the middle of the range it uses to plan new projects, implying a possible $40 fall in oil prices from the current value for benchmark Brent crude. Brent traded at $111 a barrel, U.S. crude at $96. Shell's $50-$90 range appears to be more conservative than some of its rival oil majors. At the end of October BP Chief Executive Bob Dudley said an increasing number of industry players were measuring the profitability of projects against expectations of a $90-$100 a barrel market. Shell Chief Executive Peter Voser said Shell uses a $4-$6 per British thermal unit to plan U.S. natural gas projects, well above the $2.60 spot price for natural gas. Natural gas prices have fallen sharply this year, pressured by new supply from shale gas production. They were last above $4 per BTU in September of last year.

- Ambitious new growth plans from Royal Dutch Shell failed to impress investors and analysts who fretted that disappointing fourth-quarter and 2011 results pointed to ever reducing returns from the proposed new investments. Europe's largest oil company by market capitalization said it was targeting a 50 percent rise in cashflow and a 25 percent rise in oil and gas production in coming years. However, this expansion will require higher investment, which meant Shell was only able to offer a modest increase in its dividend. Hague-based Shell's London-listed B shares traded down 1.2 percent at 1606 GMT, against a 0.2 percent rise in the STOXX Europe 600 Oil and Gas index. Analysts at Investec said they were concerned about Shell's ever-rising investment expenditure, which they feared meant the company was spending "more for less." Analysts at Citigroup said the company needed to convince investors it could invest money more profitably than rivals to justify the outperformance in its shares compared with rivals in the past 18 months. Shell's planned return to strong production growth follows a long fallow period. Apart from a 5 percent rise in 2010, the group's production has fallen every year since 2002. Production averaged 3.215 million boe/d in 2011, a 3 percent drop on 2010. Capital investment expenditure will rise to $32-$33 billion this year from $31.5 billion last year, Shell said. Analysts had previously predicted that capex would fall, as Shell completed big new projects such as the pearl gas-to-liquids plant in Qatar, which will push output higher. The high capital being invested is one reason why Shell's return on average capital employed (ROACE) failed to sparkle, at 15.9 percent, compared with levels above 20 percent a few years ago when oil prices were considerably lower.Similarly, in spite of a record average Brent crude price of $111/barrel in 2011, the full year current cost of supply (CCS) net income of $28.6 billion still lagged Shell's earnings high of $31.4 billion in 2008 when Brent was under $100/barrel. Chief Financial Officer Simon Henry said he expected the return on capital employed to rise in coming years and that all the projects Shell was invested in offered "robust" returns. However, he did not commit to returning to the previous ROACE levels. Rivals also appear to be struggling with the same problem. Chevron said its ROACE was 20 percent lower in 2011 than in 2008, while industry leader Exxon, failed to come close to its 2008 profit peak last year, even though it spent over $30 billion buying gas producer XTO in the intervening period. Shell said its fourth quarter CCS net income was $6.46 billion, helped by one-off gains from the sale of assets. Excluding one-offs, the result rose 18 percent to $4.85 billion, shy of an average forecast of $5.17 billion from a Reuters poll of nine analysts. The miss was despite the fact analysts had recently cut back their forecasts in the light of weak trading statements from Shell's rivals. A big loss in the refining unit weighed on earnings, echoing a trend across the industry. CCS earnings strip out unrealised gains or losses related to changes in the value of inventories, and as such are comparable with net income under U.S. accounting rules. The company also announced a weaker rise in its dividend than some analysts expected, adding just 1 cent to its first quarter dividend for 2012, to $0.43 per share.

- Royal Dutch Shell, one of Europe’s biggest oil companies, said that profit fell 4 percent in the fourth quarter because of lower natural gas prices, and because of lower margins in its refining and distribution operations. Net income fell to $6.5 billion in the fourth quarter of last year from $6.8 billion in the same period a year earlier, the company said in a statement. A drop in refining margins from processing oil into fuels weighed on earnings and pushed the so-called downstream business into a loss. Shell also said it would continue with a far-reaching investment program. Profit for the full year rose 54 percent to $30.9 billion. The results missed some analyst expectations. Shell’s shares fell 1.5 percent in early trading in London. A relatively mild winter so far in Europe meant that demand for gas declined, while Shell also faced some disruptions to its production. For example, the company dealt with an oil spill off the coast of Nigeria in December by temporarily shutting off its Bonga facility. Shell also said that it plans to continue to invest heavily in current and new projects over the next four years while also selling some assets. It said it plans to “return to dividend growth” for this year after announcing more than $10 billion in dividends for last year. Shell plans to invest $30 billion in its operations this year, mostly into its upstream — exploration and production — business in the United States and Australia. Shell plans to increase spending on exploration by 35 percent to about $5 billion in 2012 from $3.6 billion in 2011. The company said that oil and gas production should average 4 million barrels of oil equivalent per day by 2018. Cash flow from operations is expected to rise between 30 percent and 50 percent in the four years including 2015 from the $136 billion the company generated in the previous four years, it said. Shell said it plans to raise between $2 billion and $3 billion through divestments this year.

- Shell updated shareholders on progress against its strategic plan to generate profitable growth. In today’s volatile economic environment, the company’s strategic aim remains to drive forward with its investment programme, to deliver sustainable growth and provide competitive returns to shareholders.- The Board of Royal Dutch Shell plc (“RDS”) announced the Reference Share Price in respect of the fourth quarter interim dividend of 2011, which was announced on February 2nd, 2012 at $0.42 per A ordinary share (“A Share”) and B ordinary share (“B Share”) and $0.84 per American Depository Share (“ADS”).

- Shell announces that Malcolm Brinded has agreed to step down as an Executive Director of the Company with effect from 1 April 2012. Mr Brinded has agreed to remain at Shell until 30 April 2012 in order to assist with the transition of his responsibilities. At the same time the Board of Royal Dutch Shell plc announced the appointment of Mr Andrew Brown as Upstream International Director. He will be a member of the Executive Committee and will be based in the Netherlands.- Shell, BP, Maersk and the Japanese shipping industry announced a joint initiative aimed at supporting community and job creation projects in the coastal regions of Somalia. This initiative is designed to make a contribution to the rebuilding of a stable and prosperous Somalia and, in so doing, reduce the risk of piracy to seafarers transiting the Indian Ocean. Each company will contribute around US$500,000 over a period of two years.

- In an attempt to avoid a last-minute challenge from environmental groups that could delay its plans to begin drilling for oil this summer off the coast of Alaska, Shell asked a federal court to review its Alaska Arctic oil spill response plan and decide whether it complied with the law’s requirements. Shell received tentative approval from the Interior Department for its spill response plan, a crucial step toward clearing the way for the oil company to begin drilling in the Chukchi Sea this year. Several more regulatory barriers remain, but the company hopes it can get past all the hurdles and expected appeals in the next few months, while the narrow window for summer drilling in ice-free waters remains open. In a statement, Shell said it was filing the request for a declaratory judgment against 13 environmental groups, including Greenpeace and the Sierra Club, which have been resisting Shell’s drilling plans for five years. The legal maneuver represents a risky tactic for the oil company since it will be seen as effectively suing various environmental groups in order to proceed with Arctic drilling. Shell has spent more than $4 billion so far on its efforts to drill off the North Slope in the Beaufort and Chukchi Seas but has faced opposition from environmentalists and some native groups that are concerned that the drilling activities would harm wildlife, including walruses and bowhead whales. Opponents say that the long nights, stormy seas and heavy winds would also make a cleanup of any spill difficult, especially since the region is so remote. The company’s response plan is intended to ensure that in the event of a blowout or spill, the well could be shut down quickly and any oil discharged contained quickly. Shell has promised to have specially trained personnel and spill control equipment near drilling rigs at all times. One skimmer, the 300-foot Nanuq, will be able to store 12,000 barrels of oil, and a tanker will have a 513,000-barrel capacity.

- Big energy companies like Royal Dutch Shell and commodity merchants like Cargill have a simple argument in pushing back against looming new swap market rules: We're not a bank, so don't regulate us like one. But their efforts to avoid being branded a "swap dealer," a designation that brings with it greater scrutiny and onerous new rules, tend to sidestep the fact that, in one small but important way, most of them trade exactly like a bank. For much of the past decade, companies including BP Plc, U.S. conglomerate Koch and Swiss-based trader Vitol have quietly offered their hedging strategies and risk management savvy to other firms, often going head to head with banks like Goldman Sachs and Morgan Stanley to pitch airlines, utilities or producers on ways to hedge prices. Now, a pivotal rule in the financial overhaul of the $700 trillion derivatives market may force them into a stark choice: retain their third-party swap-dealing desks and shoulder the mantle of extra regulation; or cede the hard-won and potentially lucrative prize back to the big banks. The Commodity Futures Trading Commission (CFTC) once again delayed a high-stakes vote on definitions for "major swap participant" and "swap dealer," designations that will determine which companies will face heightened regulations. The CFTC gave no reason for removing the rules from the agenda of its planned February 23 meeting. It is the latest in a series of delays on these controversial definitions that the CFTC is jointly working on with the Securities and Exchange Commission. Commodity companies argue that although they may trade billions of dollars a year in swaps, they should be spared the CFTC regulations because they use the market principally to shield themselves from risks associated with the physical assets they own -- be it an oil well, refinery, or power plant. While few dispute that the bulk of such trades are made on behalf of the company's own risks, these firms are also a visible presence in the world of third-party sales, said Chris Thorpe, executive director of energy derivatives at INTL FC Stone, a broker that also offers risk management services. Dodd-Frank requires swaps dealers and large participants to trade swaps on exchanges or platforms known as swap execution facilities, and use clearinghouses that guarantee the trades to lower risk. It will also require swaps dealer to post significant cash collateral against default risk. Much will depend on how and where the CFTC draws the line on what separates a "dealer" from a "major participant". So far, the CFTC has said it expected as many as 40 non-bank firms to be required to register as swap dealers. End-users would be exempted from some of the regulations. The Financial Times reported that the agency would increase the threshold for defining a swap dealer to $2 billion worth of swaps sold per year, up from $100 million initially proposed. But even that new ceiling may still capture most of the larger players in the space. BP reported the fair value of its derivatives holdings at $7.2 billion at the end of 2010, one-fifth as much as Goldman Sachs. But three-quarters of BP's total was in natural gas. Companies like Shell, BP and Vitol say the Dodd-Frank reforms were never intended to saddle commercial firms who are managing their own risk. They warn that a wide-sweeping definition that captures these merchants could very well be a boon to financial players who could exert more pricing power -- to the detriment of corporations who are already facing higher regulatory costs. Others dismiss such claims as spurious and say that banks and industry players should face equal regulation for equal opportunity. If Shell is dealing in derivatives in direct competition with Goldman Sachs, they shouldn't be held to a different standard than Goldman Sachs," said John Parsons, a professor at the Massachusetts Institute of Technology who is an expert on energy policy and corporate risk management. Energy merchants can be fierce competitors too, often offering greater flexibility in making or taking delivery of the physical commodity, or advantageous credit terms, bank sources say. Shell, BP, Vitol and Koch all declined to comment on the significance of their risk operations for this story. Two industry sources said BP was one of the biggest natural gas swap traders in the business, but none of the companies provide any data on the size or scale of their market-making operations. Even a cursory search on their websites yields only a brief mention of their services, such as the following for Shell: "Shell Trading (US) Company can deliver a market-smart edge to your price risk management program." But if merchant players opt to take on the regulatory burden, it could intensify competition with banks like JPMorgan Chase & Co., Barclays PLC and others that are working hard to maintain their billion-dollar commodities franchises and retain traders at a time of growing regulations, volatile markets and diminished bonuses. Key to many companies' future trading strategy will be how broadly the CFTC defines "swap dealer," especially the de minimis exemption that is meant to shield commercial end-users from the regulations. Prior to the FT report, a potential limit of $1 billion in swap trades was still seen as too low. Once the rules are made, every market player will have to decide whether the extra cost of regulation -- more compliance officers, more back-office support staff, rejiggered computer trading software -- will be worth the profits gained. Those costs are not trivial. A study by National Economic Research Associates Inc commissioned by the Working Group of Commercial Energy Firms found that it could cost $388 million for 26 non-financial energy companies to comply with the rules -- including $153 million in margin costs, $204 million in capital costs and $31 million in business compliance costs. Beyond the real costs, many say these commodity merchants may be loath to take on the burden of more intense federal regulation -- something banks have lived with for decades. At a minimum most expect smaller players to exit swap-dealing entirely rather than build out the new layer of compliance officers and trade-tracking programs required by the CFTC. After all, for most of them the profit from market-making is small relative to the revenues from producing oil or grains. Views are mixed about which way they will go. While merchants may fight tooth and nail to avoid being dubbed swap dealers, the executive had little doubt: "They have people showing up at all the same forums. They're all preparing to comply with this regulation." Another executive at a different Wall Street bank was blunt: "We think they'll get out of the business." Vincent Kaminski, a professor at the Jones Graduate School of Business at Rice University in Houston and a former Enron Corp quantitative analyst, says he wouldn't be surprised to see some of Houston's big firms lay off traders. All the while, commodity industry executives will remind anyone who listens that it wasn't energy or grain swaps that nearly brought down the financial system in 2008.

March

• Upstream news:

• Downstream news:

- The Pakistani government is expected to bring out a notification next month allowing import of certain goods, including petrol and food items from India, Energy Secretary Ejaz Chaudhry said. Global oil major Royal Dutch Shell and South Korea's Daewoo are among the four-to-five companies participating in a tender to supply liquefied natural gas to Pakistan, Chaudhry told reporters in the Indian capital.

• Business/Finance news:

- The Board of Royal Dutch Shell plc (“RDS”) announced the pounds sterling and euro equivalent dividend payments in respect of the fourth quarter 2011 interim dividend, which was announced on February 2, 2012 at US$0.42 per A ordinary share (“A Share”) and B ordinary share (“B Share”). Dividends on A Shares will be paid, by default, in euro at the rate of €0.3202 per A Share. Holders of A Shares who have validly submitted pounds sterling currency elections by March 2, 2012 will be entitled to a dividend of 26.74p per A Share. Dividends on B Shares will be paid, by default, in pounds sterling at the rate of 26.74p per B Share. Holders of B Shares who have validly submitted euro currency elections by March 2, 2012 will be entitled to a dividend of €0.3202 per B Share. This dividend will be payable on March 22, 2012 to those members whose names were on the Register of Members on February 17, 2012.

- At 07.00 BST (08.00 CEST and 02.00 EDT) on Thursday 26 April, 2012 Royal Dutch Shell plc will release its first quarter results and first quarter interim dividend announcement for 2012.- Royal Dutch Shell plc published its Annual Report and Form 20-F for the year ended December 31, 2011. The 2011 Annual Report and Form 20-F can be downloaded from www.shell.com/annualreport. Separately a 2011 Annual Review including Summary Financial Statements can be downloaded from www.shell.com/annualreport

- Royal Dutch Shell plc (the "Company") announces that Mr Hans Wijers, a Non-executive Director of the Company, Chairman of the Remuneration Committee and a member of the Nomination and Succession Committee, has been appointed Deputy Chairman and Senior Independent Director with effect from May 23, 2012. Mr Wijers will succeed Lord Kerr of Kinlochard who, as announced on February 1, 2012, will be standing down as a Non-executive Director of the Company with effect from the close of business of the 2012 Annual General Meeting.

- Royal Dutch Shell plc (the "Company") announces its intention to propose to the 2012 Annual General Meeting that Sir Nigel Sheinwald GCMG be elected a Non-executive Director of the Company with effect from July 1, 2012.

- Royal Dutch Shell plc filed its Annual Report on Form 20-F for the year ended December 31, 2011 with the U.S. Securities and Exchange Commission. The 2011 Annual Report and Form 20-F can be downloaded from www.shell.com/annualreport or www.sec.gov - opens in new window. Separately a 2011 Annual Review including Summary Financial Statements can be downloaded from www.shell.com/annualreport.- Royal Dutch Shell plc announces that it has issued 27,498,073 A Ordinary shares in relation to the scrip dividend programme for the fourth quarter 2011 interim dividend. Following this issue, the total number of A shares in issuance is 3,696,048,510 and the total number of B shares is 2,661,403,172. Royal Dutch Shell plc holds no ordinary shares in Treasury.

April

• Upstream news:

- Officials at Royal Dutch Shell are nearly 100 percent certain that a sheen near two of the company's Gulf of Mexico oil and gas platforms stems from a natural seepage at the seabed rather than any oil wells, a source familiar with the situation told Reuters.

- Royal Dutch Shell (RDSa.L) has agreed to buy Cove Energy (COVE.L) for 1.12 billion pounds ($1.8 billion), lifting its offer to access East Africa's huge gas reserves, but failing to quell hopes of a bid battle for the Mozambique-focused explorer. Cove's directors recommended the offer from oil major Shell, which matched rather than beat a rival offer made by Thai state-controlled oil firm PTT Exploration and Production Pcl PTTE.BK (PTTEP) in February, as Shell betted that its expertise would help secure the deal. Industry interest in East Africa has been gathering pace after huge gas discoveries were made there, with the region tipped to become a major natural gas producing region supplying liquid natural gas (LNG) to energy hungry Asian markets. Mozambique's bountiful natural resources have boosted hopes for development in the region, potentially paving the way for energy-intensive industries to spring up in the country provided some of the gas is available for domestic use. Shares in Cove traded above Shell's 220 pence per share offer, up 4.7 percent to 227.25 pence at 1353 GMT, signaling investors are hopeful of a higher bid. Shell said the deal was conditional upon approval from the government of Mozambique amongst other things, adding that it includes a break fee of 11.1 million pounds if Cove later accepts a rival bid. On a usual timetable, a competing offer would have a window of around one to two months to emerge. Cove's directors, in possession of a collective 4.38 percent stake in the company, said they would be accepting the offer. Both Cove and Shell declined to comment on how capital gains tax which will be owed to Mozambique upon the sale of assets in the country will be paid. Cove said earlier in April that it will be subject to a tax rate of 12.8 percent on the capital gains arising from the sale of its Mozambique assets, clarifying that a levy would be applicable after a period of uncertainty which analysts had warned could impact the sale. Cove's main asset is an 8.5 percent stake in the Rovuma Offshore Area 1 in Mozambique, where operator Anadarko (APC.N) has said recoverable reserves could top 30 trillion cubic feet of natural gas. Mirabaud Securities analysts said Cove's stake seems a small holding for a company the size of Shell, which is one of the world's biggest LNG players. Other companies with gas discoveries and looking to build LNG facilities in the region include Italy's Eni (ENI.MI), whose field neighbors Cove's Rovuma area, and Norway's Statoil (STL.OL) and Britain's BG Group (BG.L) off the coast of Tanzania. Some in Southern Africa expressed hopes that not all of the gas will be exported as LNG to Asia, where Japan's reduced focus on nuclear power has boosted demand, warning that this would minimize the benefits of the discoveries to the region's development. Shell had previously made a $1.6 billion approach for Cove in February, before PTTEP beat the offer, prompting hopes of a bidding war, with an Indian consortium saying at one point it was also considering entering the fray. Morgan Stanley advised Shell on the bid, while Standard Chartered advised Cove. Separately, Mozambique said that it will launch a new bidding round for exploration licenses in the southern part of the Rovuma basin by the end of this year.

- Royal Dutch Shell said a new capital gains tax being introduced by the Mozambique government would add around $200 million to its planned $1.8 billion takeover of Cove Energy. Chief Financial Officer Simon Henry told reporters on a call that the final cost of the deal, that aims to give Shell a foothold in the emerging Eastern Africa natural gas play, would be around $2 billion. Henry added that Shell believed oil markets were "fundamentally well supplied" and that high oil prices were eroding demand. Henry said Shell was evaluating sites in Texas and Louisiana for a possible plant that would convert natural gas into motor fuels such as diesel.

- Royal Dutch Shell gave a bullish outlook for the development of shale gas in China, saying the Anglo-Dutch oil major's drilling there suggested vast resources could be unlocked at a relatively low cost. Chief Financial Officer Simon Henry said Shell had not yet determined the cost of producing shale gas in China but that it would probably be within the $2 to $6 per million British thermal units (Btu) seen in North America, a level that would be competitive with alternative gas sources. The development of hydraulic fracturing, or "fracking", as a technique for extracting natural gas from shale rock has led to a surge in gas production in the United States that has driven down energy costs and reinvigorated U.S. industry. The U.S. Energy Information Administration has said China has even larger shale resources than the United States, but many companies have questioned whether the resources can be developed economically. Henry, who also has executive responsibility for overseeing Shell's China operations, said it was more difficult to extract gas from Chinese reservoirs, on average, than what Shell had seen in the United States. But he expects production costs to come down, making Chinese shale economic at the $5 to $6 per million Btu level that Shell receives for its current, conventional gas production in China, and well below liquefied natural gas (LNG) import prices of around $16 per million Btu. Shell is the most active of the western oil and gas groups in Chinese shale, and Henry's view that geology or economics should not prevent China from experiencing its own "shale gale", are among the most bullish from an industry executive so far. Nonetheless, he said Chinese energy policy remained the wild card. Whereas the U.S. explosion in shale drilling has been driven by the private sector, he said Beijing would have to give its approval for a similar expansion in China.

• Downstream news:

- Royal Dutch Shell said its Geelong oil refinery in Australia was meeting all of its supply commitments after taking a processing unit offline for repairs.The unit was disabled after an emergency incident was declared. Geelong has a crude processing capacity of 120,000 barrels per day (bpd), according to the company's website. Shell typically processes expensive low-sulphur crudes, such as grades from Vietnam, at the Geelong refinery. Following the incident it was now looking to sell some of the cargoes it has already purchased, according to trade sources. The company has delayed the loading of a Vietnamese Chim Sao crude cargo to June instead of May and is looking to sell at least one of four cargoes of Te Giac Trang crude it bought in a tender.

- Oil demand is being curbed by high prices, Royal Dutch Shell said as it reported first-quarter earnings, adding to signs of weaker global oil consumption growth so far this year. Shell, Europe's largest oil company by market value, said its first-quarter sales of fuels such as gasoline and diesel fell about 3 percent from the same period of 2011 including the impact of asset sales. Shell's comments follow reduced estimates by the International Energy Agency and other forecasters for oil demand growth in 2012. Shell sells fuel through a network of about 43,000 service stations in more than 80 countries. Crude oil prices surged in March to $128 a barrel for Brent, the highest since 2008, because of concern about possible supply shortages as Western sanctions target exports from Iran. Shell believes the crude market is "fundamentally well supplied," echoing the view of other players such as the Organization of the Petroleum Exporting Countries that there is no shortage and geopolitical tensions - such as over Iran - were supporting prices. Retail fuel prices are rising in many markets. In the UK, pump prices have set new records in 2012, according to motorists' group the AA, which said in a report this month the cost of gasoline had climbed to 142.5 pence ($2.30) per litre.

- The new 325,000 barrels-per-day atmospheric crude unit started processing crude oil at Motiva's Port Arthur, Texas, refinery, said Royal Dutch Shell Chief Financial Officer Simon Henry during the company's Q1 earnings call. The Port Arthur refinery, with the expansion, is rated at 600,000 bpd and is the largest in the United States. Motiva is a joint venture of Royal Dutch Shell and Saudi Aramco.

- Royal Dutch Shell Plc and Iogen Corp have scrapped plans for a commercial-scale biofuel plant in Manitoba, spelling the loss of 150 jobs and raising questions about widespread and near-term use of fuel made from agricultural waste in Canada. The Iogen Energy joint venture had been studying building a plant to make ethanol from straw and other plant waste, rather than from food crops such as corn and sugar. One location discussed was Portage la Prairie, west of Winnipeg, Manitoba. The proposal had been in planning stages and a spokesman for Shell could not provide an estimated cost. Shell first invested in Iogen 10 years ago and the partners have operated a demonstration plant in the Ottawa area since 2004. Iogen will still employ 110 people at its Ottawa headquarters and plans to expand new technology for production of the biofuels made from cellulose, the partners said. Cellulosic ethanol is made from the non-food portion of crops. Ethanol production from food grains, especially corn, has generated debate about the ethics of diverting food for use in fuel and has been a key reason why U.S. corn stocks are projected to fall to a 16-year low this summer. Chicago corn futures prices hit a record peak last summer and remain historically high. The Canadian and provincial governments spend about C$250 million ($253 million) annually, according to the agriculture think-tank George Morris Centre, to subsidize production by companies such as Husky Energy Inc and Suncor Energy Inc. One aim is to cut greenhouse gas emissions from conventional fuel. Ottawa wants gasoline across the country to contain an average of 5 percent ethanol, creating demand for 2 billion liters, but current production falls short of that level. The decision by Shell and Iogen doesn't threaten the future Canadian biofuels production, said Scott Thurlow, president of the Canadian Renewable Fuels Association. Thurlow said there are demonstration projects in Canada for cellulosic ethanol, but no commercial production to his knowledge. For its part, Shell is a partner with other ethanol producers, including Brazil's Cosan and a U.S. company called Virent, which has developed technology to convert plant sugars into hydrocarbon molecules.

• Business/Finance news:

- Shell published its Sustainability Report for 2011, which details how sustainable development helps it to deliver energy to meet the world’s growing energy demand in a responsible way. The report covers Shell’s environmental and social performance for the year and outlines its contribution towards building a sustainable energy future. Shell’s responsible approach includes investing steadily in natural gas resources and continued investment in technology and innovation to help it to deliver this energy. Shell is producing more cleaner-burning natural gas, producing low-CO2 biofuel, helping to develop carbon capture and storage technologies, and working to improve its own energy efficiency. Shell is also offering its customers more advanced fuels and lubricants that help save energy.- The Board of Royal Dutch Shell plc (“RDS”) announced an interim dividend in respect of the first quarter of 2012 of US$0.43 per A ordinary share (“A Share”) and B ordinary share (“B Share”), an increase of US$ 0.01 on the equivalent US dollar dividend for the same quarter last year.- At 07.00 BST (08.00 CEST and 02.00 EDT) on Thursday 26 April, 2012 Royal Dutch Shell plc released its first quarter results and first quarter interim dividend announcement for 2012.

 May

•           Upstream news:

•           Downstream news:

-       Shell, Korea Gas Corporation (KOGAS), Mitsubishi Corporation, and PetroChina Company Limited announced they are developing a proposed liquefied natural gas (LNG) export facility in Western Canada, near Kitimat, British Columbia. This project will help make Canada’s abundant supplies of cleaner-burning natural gas available to global markets including Asia’s dynamic and fast-growing economies. It brings together partners with a unique combination of strengths: innovation, financial muscle, development expertise and access to important markets. Shell holds a 40% interest in the LNG Canada project (www.LNGCanada.ca), with KOGAS, Mitsubishi and PetroChina each holding a 20% interest. The proposed project includes the design, construction and operation of a gas liquefaction plant and facilities for the storage and export of LNG, including marine off-loading facilities and shipping.

 •           Business/Finance news:

-       Offer by Shell for Cove Energy plc – Related Documents published May 2, 2012

-       Offer by Shell for Cove: Consent of the Office of the Republic of Mozambique’s Minister of Natural Resources published on May 9, 2012.

-       At 07.00 BST (08.00 CEST and 02.00 EDT) on Thursday 26 July, 2012 Royal Dutch Shell plc will release its second quarter results and second quarter interim dividend announcement for 2012.

-       The Board of Royal Dutch Shell plc (“RDS”) announced the Reference Share Price in respect of the first quarter interim dividend of 2012, which was announced on April 26th, 2012 at $0.43 per A ordinary share (“A Share”) and B ordinary share (“B Share”) and $0.86 per American Depository Share (“ADS”).

-       Offer by Shell for Cove: Extension of Offer and Offer Update published on May 24, 2012.

 June

•           Upstream news:

•           Downstream news:

•           Business/Finance news:

-       The Board of Royal Dutch Shell plc (“RDS”) announced the pounds sterling and euro equivalent dividend payments in respect of the first quarter 2012 interim dividend, which was announced on April 26, 2012 at US$0.43 per A ordinary share (“A Share”) and B ordinary share (“B Share”). Dividends on A Shares will be paid, by default, in euro at the rate of €0.3468 per A Share. Holders of A Shares who have validly submitted pounds sterling currency elections by May 25, 2012 will be entitled to a dividend of 27.92p per A Share. Dividends on B Shares will be paid, by default, in pounds sterling at the rate of 27.92p per B Share. Holders of B Shares who have validly submitted euro currency elections by May 25, 2012 will be entitled to a dividend of €0.3468 per B Share. This dividend will be payable on June 21, 2012 to those members whose names were on the Register of Members on May 11, 2012.

-       Offer by Shell for Cove: Extension of Offer published on June 14, 2012.

 July

•           Upstream news:

-       Shell announces that it has signed two offshore oil and gas Production Sharing Contracts (PSCs) with CNOOC, and a PSC amendment with CNPC for a new development phase for the Changbei gas field in China. Shell has also entered an agreement with CNOOC for its participation in two Shell exploration blocks offshore Gabon, West Africa. The two offshore oil and gas PSCs with CNOOC are for blocks 62/02 and 62/17 in the Yinggehai Basin. Shell, as operator, will apply advanced seismic acquisition and processing technologies to conduct 3D seismic data surveys in the Yinggehai blocks. Shell will cover the costs for  the acquisition of seismic data and will use advanced drilling technologies to drill exploration wells during the exploration phase. Shell will hold a 100% working interest during the exploration phase, that will be reduced to 49% in any eventual development phase, with CNOOC as majority partner. The onshore tight gas PSC amendment with CNPC represents a new phase for the development of the existing Changbei block with 1,692.5 square kilometers in the Ordos Basin, and adds scope to develop additional tight gas sands and further develop the already producing main reservoir. Subject to government approval and pending the outcome of the appraisal campaign, this additional development project could increase the current production plateau of 320mmscf/d. Shell will continue to be the operator at Changbei. In Gabon, CNOOC will acquire a 25% participating interest in offshore exploration blocks BC9 and BCD10. CNOOC will reimburse Shell for 25% of certain past exploration costs and carry part of the future exploration costs. Shell will remain operator with 75% interest. The agreement is subject to government approval.

 •           Downstream news:

 -       Shell, the current owner of 4.1% of the shares in Gasnor AS, has signed a Share Purchase Agreement for the acquisition of the remaining outstanding shares in the company for USD 74 million (NOK 455.5 million). Subject to Norwegian regulatory approvals, the transaction is expected to be closed in the 3rd quarter of 2012. Gasnor is a market leader in Norway in small scale LNG (Liquefied Natural Gas), supplying LNG as a fuel to industrial and marine customers and operating an end to end supply chain, with three small scale production plants and distribution assets including two tanker ships, a fleet of trucks and a network of terminals. The acquisition of Gasnor is an important step for Shell towards creating an LNG sales business.  LNG will be a reliable new addition to Shell’s commercial customers’ fuel mix.

 

•           Business/Finance news:

-       Update on proposed acquisition of Cove published on July 16, 2012.

-       The Board of Royal Dutch Shell plc (“RDS”) announced an interim dividend in respect of the second quarter of 2012 of US$0.43 per A ordinary share (“A Share”) and B ordinary share (“B Share”), an increase of US$ 0.01 on the equivalent US dollar dividend for the same quarter last year.

-       At 07.00 BST (08.00 CEST and 02.00 EDT) on Thursday 26 July, 2012 Royal Dutch Shell plc released its second quarter results and second quarter interim dividend announcement for 2012.

 August

•           Upstream news:

-       Shell Development (Australia) Pty Ltd (Shell) and Chevron Australia Pty Ltd (Chevron) announced that they have entered into a binding agreement for the exchange of Chevron’s 16.7% interest in the East Browse titles(1) and Chevron’s 20% interest in the West Browse titles(2) with Shell’s 33.3% interest in the Clio-Acme titles(3). In addition to the assets exchanged, a further cash payment from Shell to Chevron of $450 million USD has been agreed. Following completion of this transaction, Shell will hold a 35% interest in the West Browse titles and 25% interest in the East Browse titles. The transaction is subject to governmental approval and regular processes for approval and registration of the dealings. The transaction is consistent with Shell’s growth strategy, securing material direct interests in major LNG supply projects.

•           Downstream news:

•           Business/Finance news:

-       The Board of Royal Dutch Shell plc (“RDS”) announced the Reference Share Price in respect of the second quarter interim dividend of 2012, which was announced on July 26th, 2012 at $0.43 per A ordinary share (“A Share”) and B ordinary share (“B Share”) and $0.86 per American Depository Share (“ADS”).

 September

•           Upstream news:

-       Shell Petroleum Development Company of Nigeria Limited (SPDC), a subsidiary of Royal Dutch Shell plc (Shell), completed on August 31st 2012 the assignment of its 30% interest in Oil Mining Lease (OML) 40 in the Niger Delta to Elcrest Exploration and Production Nigeria Limited. Total cash proceeds for SPDC amount to some US$102million. This divestment is part of Shell’s strategy of refocusing its onshore interests in Nigeria and in line with the Federal Government of Nigeria’s aim of developing Nigerian companies in the country’s upstream oil and gas business.  Including this license, six onshore lease assignments have been completed by SPDC in Nigeria since 2010.

-       Shell announced that it will go ahead with the first carbon capture and storage (CCS) project for an oil sands operation in Canada. The Quest project will be built on behalf of the Athabasca Oil Sands Project joint venture owners (Shell, Chevron and Marathon Oil*) and with support from the Governments of Canada and Alberta. Alberta’s oil sands are a secure, reliable source of energy and an economic engine which drives employment, training and business development across Canada and beyond.  The Athabasca Oil Sands project produces bitumen, which is piped to Shell’s Scotford Upgrader near Edmonton, Alberta.  From late 2015, Quest will capture and store deep underground more than one million tonnes a year of CO2 produced in bitumen processing.  Quest will reduce direct emissions from the Scotford Upgrader by up to 35 per cent – the equivalent of taking 175,000 North American cars off the road annually.

-       The Shell Petroleum Development Company of Nigeria Limited (SPDC), a subsidiary of Royal Dutch Shell plc (Shell), has completed the assignment of its 30% interest in Oil Mining Lease 34 (OML-34) in the Niger Delta to ND Western Limited. Total cash proceeds for Shell amount to some US$400 million. This divestment is part of Shell’s strategy of refocusing its onshore interests in Nigeria and is in line with the Federal Government of Nigeria’s aim of developing Nigerian companies in the country’s upstream oil and gas business. This is the seventh onshore lease assignment that SPDC has completed in Nigeria since 2010.

-       Royal Dutch Shell plc announced it has agreed to sell its 50% working interest in the Holstein Field, comprised of Green Canyon Blocks 644, 645 and 688 in the Gulf of Mexico, to Plains Exploration & Production (PXP) for approximately $560 million, subject to closing. Shell received an unsolicited offer from PXP for Shell’s working interest. The transaction is effective October 1, 2012 and is expected to close by year-end 2012. Holstein is a mature deepwater asset and the sale is consistent with Shell’s continuing practice of reviewing our existing portfolio and evaluating new opportunities. The Holstein Unit is centered on a spar platform anchored in 1350 meters (4400 feet) water depth and first produced in December 2004.  Shell’s 50% interest represents about two percent of the company’s overall Gulf of Mexico net production and had a 30-day net average production of 7.4 kboe/d prior to Hurricane Isaac. Shell retains a major Gulf of Mexico presence and is a leading deepwater producer. The company recently noted three successful appraisal wells at the Appomattox and Vito fields, which are expected to begin producing in the second half of the decade.

-       Royal Dutch Shell plc (“Shell”) said it acquired acreage in Texas from Chesapeake Energy in a further step to build a leading portfolio of shale assets rich in oil and natural gas liquids. The $1.935 billion transaction is expected to close within 30 days. This announcement supports Shell’s strategy of further building an industry-leading liquids-rich shale resource.  The acquisition provides both existing production and near-term growth potential from a proven resource, as well as promising opportunities for expansion. The acquisition covers 618,000 net acres in the Permian Basin in West Texas that currently produces some 26,000 barrels of oil equivalent per day and has significant growth potential.

-       Royal Dutch Shell (“Shell”) is engaged in a multi-year drilling programme to explore for new oil & gas resources in high-potential blocks in offshore Alaska. Important progress has been made with this programme, with two drill ships, more than twenty support vessels, an approved capping stack, and other redundant oil spill response equipment already in position. Shell continues to demonstrate the strength and extent of its Arctic preparations. Shell has successfully completed a series of tests of the first-ever Arctic Containment System. However, during a final test, the containment dome aboard the Arctic Challenger barge was damaged. The time required to repair the dome, along with steps taken to protect local whaling operations and to ensure the safety of operations from ice floe movement, have led us to revise our plans for the 2012-2013 exploration program. In order to lay a strong foundation for operations in 2013, we will forgo drilling into hydrocarbon zones this year. Instead, we will begin as many wells, known as ‘top holes,’ as time remaining in this season allows. The top portion of the wells drilled in the days and weeks ahead will be safely capped and temporarily abandoned this year, in accordance with regulatory requirements. We look forward to the final receipt of our drilling permits for the multi-year exploration program upon the successful testing and deployment of the Arctic Containment System. These capabilities have, most recently, been evident in Shell’s ice management operations as it successfully moved one of its drill ships and support vessels safely out of the path of approaching sea ice. That drill ship, the Noble Discoverer, is expected to resume its position and drilling operations over the ‘Burger A’ prospect in the days ahead. Also, Shell is expected to begin exploratory drilling in the Beaufort Sea. These operations will follow the conclusion of the fall whale hunt and the anticipated receipt of a top hole drilling permit.     

•           Downstream news:

•           Business/Finance news:

-       The Board of Royal Dutch Shell plc (“RDS”) announced the pounds sterling and euro equivalent dividend payments in respect of the second quarter 2012 interim dividend, which was announced on July 26, 2012 at US$0.43 per A ordinary share (“A Share”) and B ordinary share (“B Share”). Dividends on A Shares will be paid, by default, in euro at the rate of €0.3421 per A Share. Holders of A Shares who have validly submitted pounds sterling currency elections by August 24, 2012 will be entitled to a dividend of 27.08p per A Share. Dividends on B Shares will be paid, by default, in pounds sterling at the rate of 27.08p per B Share. Holders of B Shares who have validly submitted euro currency elections by August 24, 2012 will be entitled to a dividend of €0.3421 per B Share. This dividend will be payable on September 20, 2012 to those members whose names were on the Register of Members on August 10, 2012.

-       Royal Dutch Shell plc ("Shell") announces that application has been made to the UK Listing Authority and the London Stock Exchange for 22,325,686 A ordinary shares of Eur 0.07 each in the capital of Shell (the "Shares") to be admitted to the Official List of the United Kingdom Listing Authority and to be traded on the main market of the London Stock Exchange. Application will also be made to Euronext Amsterdam for the Shares to be admitted to trading on Euronext Amsterdam. The Shares are to be issued as a scrip dividend alternative to receiving a cash dividend in respect of the second quarter 2012 interim dividend and dealings are expected to commence on September 20, 2012. These Shares will rank pari passu with the existing issued A ordinary shares of Eur 0.07 each.

-       Royal Dutch Shell plc announces that it has issued 22,325,686 A Ordinary shares in relation to the scrip dividend programme for the second quarter 2012 interim dividend. Following this issue, the total number of A shares in issuance is 3,738,139,035 and the total number of B shares is 

 October

•           Upstream news:

-       Shell announced the signing of an agreement with Hess Corporation to acquire its interests in the Beryl area fields and the Scottish Area Gas Evacuation System (“SAGE”), for US$ 525 million. The Beryl Area includes 12 fields located on the UK Continental Shelf. The fields are operated by Apache and with the acquisition Shell’s interest in the different fields will increase by a range of between 9-65% depending on the field. The Beryl cluster has a far longer anticipated lifetime than originally thought and may produce for a further two decades. The acquisition should help to enhance the performance and economic potential from key Shell North Sea operated and non-operated assets, lifting Shell’s production in the Beryl area fields from currently 9 thousand boe/d to 24 thousand boe/d. Shell intends to invest in these assets to substantially extend the production life, for potentially a further 20 years.

•           Downstream news:

-       Royal Dutch Shell plc (Shell) announced the appointment of Ben van Beurden as Downstream Director, effective January 1, 2013. In his new role, van Beurden will become a member of Shell’s Executive Committee and will take over from Mark Williams who will be returning to the United States and leaving the company after 33 years’ distinguished service. Van Beurden, a Dutch national and currently Shell’s Executive Vice President Chemicals, has a Masters degree in Chemical Engineering from Delft University in the Netherlands.  He joined Shell in 1983 and has held various engineering, plant management and operations and commercial roles in the Netherlands, Africa, Malaysia, UK and the USA.

-       Shell celebrated the cutting of first steel for the game-changing Prelude floating liquefied natural gas (FLNG) facility’s substructure with joint venture participants, Inpex and KOGAS, and lead contractor, the Technip Samsung Consortium, at Samsung Heavy Industries’ Geoje shipyard in South Korea. When completed, the Prelude FLNG facility will be 488 metres long and 74 metres wide, making it the largest offshore floating facility ever built.  When fully equipped and with its cargo tanks full, it will weigh more than 600,000 tonnes.  There will be over 3,000 kilometres of electrical and instrumentation cables on the FLNG facility, the distance from Barcelona to Moscow.

•           Business/Finance news:

-       At 07.00 GMT (08.00 CET and 03.00 EST) on Thursday, November 1, 2012 Royal Dutch Shell plc will release its third quarter results and third quarter interim dividend announcement for 2012.

 November

•           Upstream news:

-       The Shell Petroleum Development Company of Nigeria Limited (SPDC), a subsidiary of Royal Dutch Shell plc (Shell), has completed the assignment of its 30% interest in Oil Mining Lease 30 (OML30) in the Niger Delta to Shoreline Natural Resources Limited (Shoreline). Total cash proceeds for Shell amount to some US$567 million. This divestment is part of the re-shaping of SPDC’s onshore portfolio and is in line with the Federal Government of Nigeria’s aim of developing Nigerian companies in the country’s upstream oil and gas business. Shell has been in Nigeria for more than 50 years and remains committed to keeping a long-term presence there – both onshore and offshore. Through SPDC and its other Nigerian companies, Shell responsibly produces the oil and gas needed to fuel the economic and industrial growth that generates wealth for the nation and jobs for Nigerians. OML30 covers an area of some 1097 square kilometres and includes the Kokori, Afiesere, Oweh, Olomore, Eriemu, Evwreni, Oroni and Isioka fields and related facilities. The divested infrastructure includes most of the Trans Forcados major crude oil pipeline from OML30 to the Forcados River manifold. The remaining 8 km to the Forcados terminal will remain with the SPDC joint venture. The divested fields produced around 35,000 barrels per day of oil and condensate (100%).

-       Shell announced the signing of separate agreements for the acquisition of Murphy Schiehallion Limited 5.9% stake in the Schiehallion field west of Shetlands and for the sale of Shell’s interest in the Seal area within the Peace River oil sands of Alberta, Canada to Murphy Oil Company Ltd. The additional equity in the Schiehallion field brings Shell’s stake to 55% and offers Shell access to substantial additional reserves and redevelopment potential in the UK, a current and future heartland for Shell Upstream in Europe.  The deepening in Schiehallion is part of Shell’s continued portfolio optimization and our strategy of sustaining the existing upstream engine. Under the agreements Murphy, an active developer in the Seal Area in Canada and Shell’s partner in a number of assets, will take over Shell’s interest and operatorship of all the Seal facilities and leases.  This divestment does not impact Shell’s focus on growth activities within other parts of its Peace River leases.  Shell has significant land holdings in the Peace River oil sands and has a regulatory application under review to increase its thermal production to 80,000 barrels per day with its Carmon Creek Project.

-       Royal Dutch Shell plc (“Shell”) hosted a management day with investors, focusing on global gas and Asia Pacific Upstream. Global primary energy demand could double to 400 million barrels of oil equivalent per day (“Mboe/d”) in the first half of the 21st century, from some 200 Mboe/d in 2000, and 270 Mboe/d in 2011, driven by the non-OECD economies. Some two thirds of energy consumption in 2030 could be in the non-OECD, compared to 56% today. Meeting this growth in demand will require large scale and sustained investment in all forms of energy, with an energy mix that is 80% hydrocarbons today, and it will be dominated by hydrocarbons for some time to come. Natural gas, which is the cleanest burning fossil fuel, has an important role to play, with more than 250 years of global supply established, and emerging exploration potential, especially in shale gas. Shell expects global natural gas demand to increase by 60% from 2010 to 2030, reaching 25% of the global primary energy mix and within that, strong growth in LNG. LNG demand has doubled to 200 million tonnes per annum (“mtpa”) in the first decade of this century. Shell expects LNG demand to double again to 400 mtpa by 2020, and potentially reach 500 mtpa by 2025. Meeting this demand growth will require substantial industry investment – potentially more than $700 billion – and continued innovation and interdependency between supplier and customer countries.

-       Forty years ago, in 1972, work began on what many people regard as the first Shell Scenarios document, published the following year, though the roots of this work lie even further in the past. Since then, scenario planning has been at the heart of Shell’s business, developing senior leadership understanding of critical factors in the business environment and the possible directions which economic, geopolitical and social systems could take, decades into the future. In the last four decades, Shell Scenario planners have highlighted many key world trends and discontinuities, ensuring that Shell as a business has been able to plan for several eventualities and maintain business continuity through even the most turbulent times. For example, the original Scenarios helped Shell’s leaders to prepare for the possibility of an oil price shock – a prescient move given the Yom Kippur war, which broke out in October 1973.

•           Downstream news:

•           Business/Finance news:

-       The Board of Royal Dutch Shell plc announced the intended timetable for the 2013 quarterly interim dividends.

-       The Board of Royal Dutch Shell plc (“RDS”) announced an interim dividend in respect of the third quarter of 2012 of US$0.43 per A ordinary share (“A Share”) and B ordinary share (“B Share”), an increase of US$ 0.01 on the equivalent US dollar dividend for the same quarter last year.

-       The Board of Royal Dutch Shell plc (“RDS”) announced the Reference Share Price in respect of the third quarter interim dividend of 2012, which was announced on November 1st, 2012 at $0.43 per A ordinary share (“A Share”) and B ordinary share (“B Share”) and $0.86 per American Depository Share (“ADS”).

 December

•           Upstream news:

•           Downstream news:

           Business/Finance news:

-       On Thursday, January 31, 2013 at 07.00 GMT (08.00 CET and 02.00 EST) Royal Dutch Shell plc will release its fourth quarter and full year results and fourth quarter interim dividend announcement for 2012.

-       The Board of Royal Dutch Shell plc (“RDS”) announced the pounds sterling and euro equivalent dividend payments in respect of the third quarter 2012 interim dividend, which was announced on November 1, 2012 at US$0.43 per A ordinary share (“A Share”) and B ordinary share (“B Share”). Dividends on A Shares will be paid, by default, in euro at the rate of €0.3333 per A Share. Holders of A Shares who have validly submitted pounds sterling currency elections by November 30, 2012 will be entitled to a dividend of 26.86p per A Share. Dividends on B Shares will be paid, by default, in pounds sterling at the rate of 26.86p per B Share. Holders of B Shares who have validly submitted euro currency elections by November 30, 2012 will be entitled to a dividend of €0.3333 per B Share. This dividend will be payable on December 20, 2012 to those members whose names were on the Register of Members on November 16, 2012.

-       Royal Dutch Shell plc (the "Company") announces that Mr Gerrit Zalm has been appointed a Non-executive Director of the Company with effect from January 1, 2013. Mr Zalm is the Chairman of the Board of Management of ABN AMRO Bank N.V., a position he has held since February 2009. Prior to that Mr Zalm was the Minister of Finance of the Netherlands from 1994-2002 and from 2003-2007. Mr Zalm will seek re-appointment by shareholders at the next Annual General Meeting (AGM), scheduled to be held in May 2013. Mr Jeroen van der Veer, a Non-executive Director of the Company since July 2009 and a Member of the Corporate and Social Responsibility Committee, and previously Chief Executive from October 2004 until July 2009, has elected to retire from the Board at the close of business of the 2013 AGM.

-       Royal Dutch Shell plc announces that it has issued 34,249,652 A Ordinary shares in relation to the scrip dividend programme for the third quarter 2012 interim dividend.