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the company uses lower case "plc". See https://www.shell.com/uk-modern-slavery-act/_jcr_content/root/main/section/call_to_action/links/item0.stream/1748540524225/f729ffe57bfa030aa8a57be57dee5e71f0214068/modern-slavery-act-statement-2024.pdf |
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| Royal Dutch Shell plc (2004{{endash}}2022)<ref name="CompaniesHouse">{{Cite web |date=5 February 2002 |title=Shell PLC overview – Find and update company information – GOV.UK |url=https://find-and-update.company-information.service.gov.uk/company/04366849 |access-date=30 January 2024 |website=[[Companies House]] |language=en}}</ref><ref>{{Cite web |title=Modern Slavery Act Statement 2022 |url=https://www.shell.com/uk-modern-slavery-act/_jcr_content/root/main/section/call_to_action/links/item0.stream/1678297669616/bc592f9f745abb7862b8395a156b54d2165eca47/shell-plc-modern-slavery-act-statement-2022.pdf |access-date=30 January 2024 |website=Shell}}</ref>
}}
| logo = [[File:Shell logo.svg]] <br> [[File:Shell wordmark 2019.svg|150px]]
| logo_size = 150
| logo_caption =
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* [[Shell V-Power]]
}}
| revenue = {{decrease}} US$284.3 billion<ref name=results>{{cite web|url=https://www.shell.com/investors/
| revenue_year = 2024
| operating_income = {{decrease}} US$34.7 billion<ref name=results/>
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* [[Shell Australia]]
* [[Shell Canada]]
* [[Brunei Shell Petroleum|Shell Brunei]]
* Shell Chile
* Shell Hong Kong
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| footnotes = {{unbulleted list|style= line-height 1.3|{{note label|reference_name_A|a|}} formerly known as "the Royal Dutch Company for the Exploitation of Petroleum Wells in the Dutch East Indies"}}
}}
'''Shell plc''' is a British [[Multinational corporation|multinational]] [[petroleum|oil]] and [[natural gas|gas]] company, headquartered in [[London]],
Shell was formed in April 1907 through the [[Mergers and acquisitions|merger]] of '''Royal Dutch Petroleum Company''' of the Netherlands and '''The "Shell" Transport and Trading Company''' of the United Kingdom. The combined company rapidly became the leading competitor of the American [[Standard Oil]] and by 1920 Shell was the largest producer of oil in the world.<ref>{{cite book |last1=Garavini |first1=Giuliano |url=https://books.google.com/books?id=_W6fDwAAQBAJ |title=The Rise and Fall of OPEC in the Twentieth Century |publisher=Oxford University Press |year=2019 |isbn=9780198832836 |page=14 |access-date=2 April 2021 |archive-date=17 March 2023 |archive-url=https://web.archive.org/web/20230317111213/https://www.google.co.uk/books/edition/The_Rise_and_Fall_of_OPEC_in_the_Twentie/_W6fDwAAQBAJ?hl=en&gbpv=1 |url-status=live }}</ref> Shell first entered the chemicals industry in 1929. Shell was one of the "[[Seven Sisters (oil companies)|Seven Sisters]]" which dominated the global petroleum industry from the mid-1940s to the mid-1970s. In 1964, Shell was a partner in the world's first commercial sea transportation of [[liquefied natural gas]] (LNG).<ref>{{cite book |last1=Peebles |first1=Malcolm |url=https://books.google.com/books?id=BFddDwAAQBAJ&q=shell+first+lng+cargo+1964 |archive-url=https://web.archive.org/web/20210816111115/https://books.google.com/books?id=BFddDwAAQBAJ&q=shell+first+lng+cargo+1964 |url-status=dead |archive-date=16 August 2021 |title=Evolution of the Gas Industry |publisher=Macmillan International Higher Education |year=1980 |isbn=9781349051557 |page=194 }}</ref> In 1970, Shell acquired the mining company [[BHP#Billiton|Billiton]], which it subsequently sold in 1994 and now forms part of [[BHP]]. In recent decades gas has become an increasingly important part of Shell's business<ref name="bloom8415">{{cite news |last=Fox |first=Justin |date=8 April 2015 |title=Stop Calling Shell an Oil Company |publisher=Bloomberg |url=https://www.bloomberg.com/view/articles/2015-04-08/maybe-it-s-time-to-stop-calling-shell-an-oil-company |url-status=live |access-date=29 October 2016 |archive-url=https://web.archive.org/web/20161030081338/https://www.bloomberg.com/view/articles/2015-04-08/maybe-it-s-time-to-stop-calling-shell-an-oil-company |archive-date=30 October 2016}}</ref> and Shell acquired [[BG Group]] in 2016.<ref name="bloom8415" />
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Shell is [[Vertical integration|vertically integrated]] and is active in every area of the oil and gas industry, including [[Hydrocarbon exploration|exploration]], [[Extraction of petroleum|production]], [[refining]], [[Petroleum transport|transport]], [[Midstream|distribution and marketing]], [[petrochemical]]s, [[power generation]], and trading. Shell has operations in over 99 countries,<ref>{{cite web|url=https://reports.shell.com/tax-contribution-report/2020/_assets/downloads/shell-tax-contribution-report-2020.pdf|title=Tax Contribution Report|year=2020|publisher=Shell|access-date=17 December 2021|archive-date=16 December 2021|archive-url=https://web.archive.org/web/20211216222908/https://reports.shell.com/tax-contribution-report/2020/_assets/downloads/shell-tax-contribution-report-2020.pdf|url-status=live}}</ref> produces around 3.7 million [[Barrel of oil equivalent|barrels of oil equivalent]] per day and has around 44,000 service stations worldwide.<ref>{{cite web|url=http://www.shell.com/home/content/aboutshell/at_a_glance/|title=Shell at a glance|access-date=30 August 2010|publisher=Royal Dutch Shell plc|url-status=dead|archive-url=https://web.archive.org/web/20100829175102/http://www.shell.com/home/content/aboutshell/at_a_glance/|archive-date=29 August 2010}}</ref><ref name="bgcombin">{{cite web|url=http://www.shell.com/investors/pre-combination-bg-group-publications/recommended-cash-and-share-offer-for-bg-group-plc-by-royal-dutch-shell-plc/_jcr_content/par/textimage_931903780.stream/1447807511882/0d4c28106256a8fda81c66a7abeca10ab78288bd4407420d3ae8f385a8870849/offer-announcement-royaldutchshellplc-bggroupplc.pdf|title=8 Apr 2015 – Recommended Cash and Share Offer Announcement|access-date=29 October 2016|publisher=Royal Dutch Shell plc|url-status=dead|archive-url=https://web.archive.org/web/20161030005314/http://www.shell.com/investors/pre-combination-bg-group-publications/recommended-cash-and-share-offer-for-bg-group-plc-by-royal-dutch-shell-plc/_jcr_content/par/textimage_931903780.stream/1447807511882/0d4c28106256a8fda81c66a7abeca10ab78288bd4407420d3ae8f385a8870849/offer-announcement-royaldutchshellplc-bggroupplc.pdf|archive-date=30 October 2016}}</ref> As of 31 December 2019, Shell had total proved reserves of {{convert|11.1|e9oilbbl}} of oil equivalent.<ref>{{cite web|url=https://reports.shell.com/annual-report/2019/servicepages/downloads/files/shell_annual_report_2019.pdf|title=Shell Annual Report and Accounts 2019Annual Report and Accounts 2019|publisher=Royal Dutch Shell|access-date=28 February 2021|archive-date=4 March 2021|archive-url=https://web.archive.org/web/20210304214440/https://reports.shell.com/annual-report/2019/servicepages/downloads/files/shell_annual_report_2019.pdf|url-status=live}}</ref> [[Shell Oil Company|Shell USA]], its principal subsidiary in the United States, is one of its largest businesses.<ref>{{cite web|url=http://www.shell.us/home/content/usa/aboutshell/shell_businesses/upstream/ |title=Exploration & Production in the United States |access-date=30 August 2010 |publisher=Royal Dutch Shell plc |url-status=dead |archive-url=https://web.archive.org/web/20110724200232/http://www.shell.us/home/content/usa/aboutshell/shell_businesses/upstream/ |archive-date=24 July 2011 }}</ref> Shell holds 44%<ref>{{Cite news|title=Shareholding Structure|url=https://ri.raizen.com.br/en/about-raizen/shareholding-structure/|access-date=17 December 2021|website=Raízen RI|language=en-US|archive-date=17 December 2021|archive-url=https://web.archive.org/web/20211217133038/https://ri.raizen.com.br/en/about-raizen/shareholding-structure/|url-status=live}}</ref> of [[Raízen]], a publicly listed joint venture with [[Cosan]], which is the third-largest Brazil-based energy company.<ref name="Sugarcane Ethanol" /> In addition to the main Shell brand, the company also owns the [[Jiffy Lube]], [[Pennzoil]] and [[Quaker State]] brands.
Shell is a constituent of the [[FTSE 100 Index]] and had a [[market capitalisation]] of US$199 billion on 15 September 2022, the largest of any company listed on the LSE and the 44th-largest of any company in the world.<ref>{{cite web |title=Largest Companies by Market Cap |url=https://companiesmarketcap.com/ |website=companiesmarketcap.com |access-date=15 September 2022 |language=en-us |archive-date=14 April 2021 |archive-url=https://web.archive.org/web/20210414112804/https://companiesmarketcap.com/ |url-status=live }}</ref>
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During the [[First World War]], Shell was the main supplier of fuel to the [[British Expeditionary Force (World War I)|British Expeditionary Force]].<ref name=autogenerated1>{{cite web|url=http://www.shell.com/global/aboutshell/who-we-are/our-history/early-20th-century.html|title=The early 20th century|work=shell.com|access-date=21 March 2015|archive-url=https://web.archive.org/web/20150331032656/http://www.shell.com/global/aboutshell/who-we-are/our-history/early-20th-century.html|archive-date=31 March 2015|url-status=live}}</ref> It was also the sole supplier of [[aviation fuel]] and supplied 80 percent of the British Army's [[TNT]].<ref name=autogenerated1 /> It also volunteered all of its shipping to the [[British Admiralty]].<ref name=autogenerated1 />
The [[Romanian Campaign (1916)|German invasion of Romania]] in 1916 saw 17% of the group's worldwide production destroyed.<ref name=autogenerated1 /> In 1919, Shell took control of the [[Mexican Eagle Petroleum Company]] and in 1921 formed Shell-Mex Limited, which marketed products under the "Shell" and "Eagle" brands in the United Kingdom. During the [[Genoa Conference (1922)|Genoa Conference]] of 1922 Royal Dutch Shell was in negotiations for a monopoly over Soviet oilfields in [[Baku]] and [[Grozny|Grosny]], although the leak of a draft treaty led to breakdown of the talks.<ref>{{Cite book|last=Steiner|first=Zara
During the [[Spanish Civil War]] the company sold oil to the Nationalist side of [[Francisco Franco]].<ref>{{cite book |last1=Casanova |first1=Julián |title=The Spanish Republic and Civil War |date=2010 |publisher=Cambridge University Press |page=233}}</ref>
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[[File:Filling station.jpg|thumb|Shell filling station in the UK, 2006]]
In November 2004, following a period of turmoil caused by the revelation that Shell had been overstating its [[oil reserves]], it was announced that the Shell Group would move to a single capital structure, creating a new parent company to be named Royal Dutch Shell plc, with its primary listing on the LSE, a secondary listing on [[Euronext Amsterdam]], its headquarters and tax residency in [[The Hague]], Netherlands and its registered office in London. The company was already incorporated in 2002 as '''Forthdeal Limited''', a [[shelf corporation]] incorporated by Swift Incorporations Limited and Instant Companies Limited, both based in Bristol.<ref name="chshell">{{cite web |title=SHELL PLC overview – Find and update company information – GOV.UK |url=https://find-and-update.company-information.service.gov.uk/company/04366849 |url-status=live |archive-url=https://web.archive.org/web/20220206214703/https://find-and-update.company-information.service.gov.uk/company/04366849 |archive-date=6 February 2022 |access-date=6 February 2022 |publisher=[[Companies House]]}}</ref> The unification was completed on 20 July 2005 and the original owners delisted their companies from the respective exchanges. On 20 July 2005, The "Shell" Transport and Trading Company plc was delisted from the LSE,<ref>[http://www.shell.com/home/content/investor/shareholder_information/unification_archive/st_archive/share_capital_history/ The Shell Transport & Trading Company plc] {{webarchive|url=https://web.archive.org/web/20120522212951/http://www.shell.com/home/content/investor/shareholder_information/unification_archive/st_archive/share_capital_history/ |date=22 May 2012 }} delisted from LSE,</ref> changing its name to The Shell Transport and Trading Company Limited<ref>{{cite web|url=https://find-and-update.company-information.service.gov.uk/company/00054485/filing-history?page=5 |title=Directors' Report and Accounts 2005|publisher=Shell Transport and Trading Company Limited|access-date=26 March 2025}}</ref> whereas Royal Dutch Petroleum Company was delisted from the [[New York Stock Exchange]] on 18 November 2005.<ref>{{cite web|url=https://www.sec.gov/rules/delist/1-03788_111805.pdf|title=N.V. Koninklijke Nederlandsche Petroleum Maatschappij (English translation, Royal Dutch Petroleum Company) to Withdraw its Ordinary Shares, par value 0.56 Euro, from NYSE|access-date=13 May 2019|archive-url=https://web.archive.org/web/20181109153338/https://www.sec.gov/rules/delist/1-03788_111805.pdf|archive-date=9 November 2018|url-status=live}}</ref> The shares of the company were issued at a 60/40 advantage for the shareholders of Royal Dutch in line with the original ownership of the Shell Group.<ref>[http://news.bbc.co.uk/1/hi/business/4628983.stm Shell shareholders agree merger] {{Webarchive|url=https://web.archive.org/web/20071214094846/http://news.bbc.co.uk/1/hi/business/4628983.stm |date=14 December 2007 }} BBC News, 2005</ref>
During the [[Economy of Iraq#2009 Oil services contracts|2009 Iraqi oil services contracts tender]], a consortium led by Shell (45%) and which included [[Petronas]] (30%) was awarded a production contract for the "Majnoon field" in the south of Iraq, which contains an estimated {{convert|12.6|Goilbbl|m3}} of oil.<ref name=GT-DEX-2009-47>{{cite news|title=Iraq holds oil auction, Shell wins giant field|url=http://in.reuters.com/article/idINIndia-44646120091211|access-date=22 August 2012|work=Reuters|date=11 December 2009|archive-url=https://web.archive.org/web/20130619230728/http://in.reuters.com/article/2009/12/11/idINIndia-44646120091211|archive-date=19 June 2013|url-status=dead}}</ref><ref>{{cite news|url=http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article6954091.ece|title=Shell secures vital toehold in 'the new Iraq' where oil is ready to flow|access-date=22 April 2011|work=[[The Times]]|date=12 December 2009|___location=London|first=Robin|last=Pagnamenta|archive-url=https://archive.today/20120712060026/http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article6954091.ece|archive-date=12 July 2012|url-status=bot: unknown}}</ref> The "West Qurna 1 field" production contract was awarded to a consortium led by [[ExxonMobil]] (60%) and included Shell (15%).<ref>[[Iraq oil#2009 Oil services contracts|2009 Iraqi oil services contracts tender]]</ref>
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In November 2024, Shell won a case in the Hague court of appeal against [[Friends of the Earth]] which would have required Shell to cut its carbon emissions by 45%, in line with the [[Paris Climate Accords]].<ref>{{Cite web |date=12 November 2024 |title=Shell wins landmark climate case against green groups in Dutch appeal |url=https://www.bbc.co.uk/news/articles/cx240l9xq2yo |access-date=2024-11-12 |website=BBC News |language=en-GB}}</ref>
==Corporate affairs==
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File:Logo Shell 1973.jpg|1955–70
File:Shell_logo.svg|1971–present{{refn|Designed by [[Raymond Loewy]].<ref name=dboom/>|group=n|name=loew}}
File:Shell wordmark 2019.svg|2019-present (wordmark)
</gallery>
;Notes
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[[File:Shell Pernis refinery 2019.jpg|thumb|Europe's largest refinery, Shell Pernis, in [[Rotterdam]], 2019]]
[[File:Shell filling station, Greece.jpg|thumb|Filling station in [[Argos, Peloponnese]] owned by Shell. Shell and local subsidiaries own and operate thousands of filling stations worldwide.]]
Shell's primary business is the management of a [[Vertical integration|vertically integrated]] oil company. The development of technical and commercial expertise in all stages of this vertical integration, from the initial search for oil (exploration) through its harvesting (production), transportation, [[Oil refinery|refining]] and finally trading and marketing established the core competencies on which the company was founded. Similar competencies were required for natural gas, which has become one of the most important businesses in which Shell is involved, and which contributes a significant proportion of the company's profits. While the vertically integrated business model provided significant [[economies of scale]] and [[barriers to entry]], each business now seeks to be a self-supporting unit without subsidies from other parts of the company.<ref>{{cite news|url=
Traditionally, Shell was a heavily decentralised business worldwide (especially in the downstream) with companies in over 100 countries, each of which operated with a high degree of independence. The upstream tended to be far more centralised with much of the technical and financial direction coming from the central offices in [[The Hague]]. The upstream oil sector is also commonly known as the "exploration and production" sector.<ref>{{cite web|url=http://www.psac.ca/business/industry-overview/|title=Industry Overview|publisher=Petroleum Services Association of Canada|access-date=11 April 2017|archive-url=https://web.archive.org/web/20170508053546/http://www.psac.ca/business/industry-overview/|archive-date=8 May 2017|url-status=live}}</ref>
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Prior to the 1960s, Shell was one of the major multinational corporations operating in Sri Lanka, alongside companies like [[Esso]] and [[Caltex]]. These companies played pivotal roles in importing, distributing, and retailing petroleum products across the country. However, in 1962, under the leadership of Prime Minister [[Sirimavo Bandaranaike]], the [[Government of Sri Lanka|Sri Lankan government]] [[Nationalization|nationalized]] the assets of these oil giants. This move aimed to reduce foreign dominance in key economic sectors and led to the establishment of the [[Ceylon Petroleum Corporation]] (CPC), granting it exclusive rights over the importation, sale, export, and distribution of most petroleum products in Sri Lanka.<ref name=":22">{{Cite journal |last=Amerasinghe |first=Chittharanjan |date=1964 |title=The Ceylon Oil Expropriations |url=https://www.cambridge.org/core/journals/american-journal-of-international-law/article/abs/ceylon-oil-expropriations/36A1188266D002CFBC109CA9FB0BA412 |journal=American Journal of International Law |language=en |volume=58 |issue=2 |pages=445–450 |doi=10.1017/S0002930000759859 |issn=0002-9300|url-access=subscription }}</ref>
After a period of reduced presence, Shell re-entered the Sri Lankan market in the mid-1990s. In 1996, Shell acquired a 51% stake in the [[Litro Gas|Colombo Gas Company]] for $37 million, marking its significant return to the country's energy sector. This acquisition led to the establishment of Shell Gas Lanka Limited, which managed the importation, storage, and distribution of liquefied petroleum gas (LPG) in Sri Lanka.<ref>{{Cite web |last=Sirilal |first=Ranga |publisher=Reuters |date=November 3, 2010 |title=Sri Lanka buys back gas business from Shell for $63 mln |url=https://www.reuters.com/article/business/energy/sri-lanka-buys-back-gas-business-from-shell-for-63-mln-idUSSGE6A20DK/?utm_source=chatgpt.com |website=Reuters}}</ref>
In recent years, Shell has signaled its intent to re-establish a presence in Sri Lanka's fuel retailing market. In collaboration with RM Parks and Tristar, Shell announced plans to introduce Shell-branded fuel stations in the country, marking a significant return to the Sri Lankan energy landscape. On 26 February 2025, Shell marked its return to Sri Lanka's fuel retail market by inaugurating its first Shell-branded fuel station in over six decades. This station is located at the B.S. Cooray Filling Station in Ambathale, Colombo District.<ref>{{Cite web |last=
===United Kingdom===
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On 25 February 2021, Shell announced the acquisition of German Virtual Power Plant (VPP) company Next Kraftwerke for an undisclosed amount. Next Kraftwerke connects renewable electricity generation- and storage projects to optimize the usage of those assets. The company mostly operates in Europe.<ref>{{Cite web|title=Shell acquires Next Kraftwerke to strengthen position in renewable energy trading|url=https://www.next-kraftwerke.com/news/shell-next-kraftwerke|access-date=22 December 2021|website=www.next-kraftwerke.com|language=en-US|archive-date=22 December 2021|archive-url=https://web.archive.org/web/20211222142347/https://www.next-kraftwerke.com/news/shell-next-kraftwerke|url-status=live}}</ref>
In November 2022, it was announced Shell's wholly
== Ownership ==
Shell is mainly owned by institutional investors. The 10 largest
* [[BlackRock|BlackRock Investment Management UK]] (4.061%)
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In 2017, a public information film ("Climate of Concern") unseen for years resurfaced and showed Shell had clear grasp of global warming 26 years earlier but has not acted accordingly since, said critics.<ref>{{cite news |last1=Carrington |first1=Damian |last2=Mommers |first2=Jelmer |date=28 February 2017 |title='Shell knew': oil giant's 1991 film warned of climate change danger |url=https://www.theguardian.com/environment/2017/feb/28/shell-knew-oil-giants-1991-film-warned-climate-change-danger |url-status=live |archive-url=https://web.archive.org/web/20170424174806/https://www.theguardian.com/environment/2017/feb/28/shell-knew-oil-giants-1991-film-warned-climate-change-danger |archive-date=24 April 2017 |access-date=25 April 2017 |work=[[The Guardian]]}}</ref><ref name="Jelmer Mommers Damian Carrington 2017">{{cite news |last1=Mommers |first1=Jelmer |last2=Carrington |first2=Damian |date=28 February 2017 |title=If Shell knew climate change was dire 25 years ago, why still business as usual today? |url=https://thecorrespondent.com/6286/if-shell-knew-climate-change-was-dire-25-years-ago-why-still-business-as-usual-today/692773774-4d15b476 |url-status=live |archive-url=https://web.archive.org/web/20170426061357/https://thecorrespondent.com/6286/if-shell-knew-climate-change-was-dire-25-years-ago-why-still-business-as-usual-today/692773774-4d15b476 |archive-date=26 April 2017 |access-date=25 April 2017 |work=The Correspondent}}</ref><ref name="Jelmer Mommers 2017">{{cite news |last=Mommers |first=Jelmer |date=28 February 2017 |title=Shell made a film about climate change in 1991 (then neglected to heed its own warning) |url=https://thecorrespondent.com/6285/shell-made-a-film-about-climate-change-in-1991-then-neglected-to-heed-its-own-warning/692663565-875331f6 |url-status=live |archive-url=https://web.archive.org/web/20170426151247/https://thecorrespondent.com/6285/shell-made-a-film-about-climate-change-in-1991-then-neglected-to-heed-its-own-warning/692663565-875331f6 |archive-date=26 April 2017 |access-date=25 April 2017 |work=The Correspondent}}</ref> During the years of 2010–2018, only 1% of Shell's long-term investments were dedicated to sources of low-carbon energy such as wind and solar. In the years of 2015–2017, just 0.4% of its revenue was put towards low-carbon technology.<ref name="auto2">{{Cite web |title=The Greenwashing Files – Shell {{!}} ClientEarth |url=https://www.clientearth.org/projects/the-greenwashing-files/shell/ |access-date=4 March 2024 |website=www.clientearth.org |language=en-US}}</ref>
Shell failed to meet its own target in 2020 to spend $6 billion on renewable energy.
In March 2024, Shell CEO Wael Sawan announced that the company would moderate its near-term carbon emissions reduction targets, revising its reduction in [[Emission intensity|net carbon intensity]] of third-party use of products down to 15% from 20% and dropping its target of a 45% reduction in carbon emissions by 2035 from a 2016 baseline.<ref>{{cite news|last=Meredith|first=Sam|date=14 March 2024|title=Oil giant Shell waters down its near-term emission cuts in strategy update|publisher=CNBC|url=https://www.cnbc.com/2024/03/14/oil-giant-shell-waters-the-down-pace-of-its-near-term-emission-cuts.html|access-date=14 March 2024}}</ref><ref>{{cite news|last=Laursen|first=Christian Moess|date=14 March 2024|title=Shell to Slow Pace of Carbon-Emission Cuts|work=The Wall Street Journal|publisher=News Corp|url=https://www.wsj.com/articles/shell-to-slow-pace-of-carbon-emission-cuts-4b24acce|access-date=14 March 2024}}</ref>
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