Full publication: PDF (92 pages), XLS (95 tables) - Reports - Shell

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BUILDING AN ENERGY FUTURE GLOBAL ENERGY DEMAND IS RISING AND SO ARE CONSUMER EXPECTATIONS – MORE PEOPLE WANT ENERGY FROM CLEANER SOURCES. AT SHELL WE WORK WITH OTHERS TO UNLOCK NEW ENERGY SOURCES AND SQUEEZE MORE FROM WHAT WE HAVE. WE DO THIS IN RESPONSIBLE AND INNOVATIVE WAYS. IN BUILDING A BETTER ENERGY FUTURE WE ALL HAVE A PART TO PLAY. SHELL IS DOING ITS PART. KEY TO SYMBOLS web or email address QR code. Scan this code with the QR reader app on your smartphone and get a hyperlink to the mobile internet CONTENTS 1 Introduction from the CEO SUMMARY REVIEW 2 Our businesses 3 Highlights 2011 5 Strategy and outlook 8 Key projects under construction 10 Market overview 2007–2011 11 Results 2007–2011 UPSTREAM 12 Highlights 14 Exploration 16 Options for future growth 18 Integrated gas 20 Production 21 Proved reserves 22 Europe 23 Africa 24 Asia (including Middle East and Russia) 27 Oceania 28 Americas DOWNSTREAM 31 Highlights 32 Refining 33 Supply and distribution 33 Business to Business (B2B) 34 Retail 35 Lubricants 36 Chemicals 37 Portfolio actions 37 Trading ALTERNATIVE ENERGY 38 Biofuels 39 Wind PROJECTS & TECHNOLOGY 40 Delivering projects 41 Innovative technology 41 R&D expenditure 42 Safety 42 Contracting and procurement CORPORATE SEGMENT 43 Treasury 43 Headquarters and central functions 43 Risk and insurance MAPS 44 Europe 46 Africa 48 Asia 52 Oceania 53 Americas CONSOLIDATED DATA 56 Employees 57 Consolidated financial data UPSTREAM DATA 65 Upstream earnings 67 Oil and gas exploration and production activities earnings 69 Oil sands 70 Proved oil and gas reserves 73 Oil, gas, synthetic crude oil and bitumen production 76 Acreage and wells 78 LNG and GTL DOWNSTREAM DATA 79 Oil products and refining locations 81 Oil sales and retail sites 82 Chemicals and manufacturing locations ADDITIONAL INVESTOR INFORMATION 84 Share information 85 Dividends 86 Bondholder information 87 Financial calendar 89 Addresses 89 Abbreviations ABOUT THIS PUBLICATION This Investors’ Handbook contains detailed information about our annual financial and operational performance over varying timescales from 2007 to 2011 . Wherever possible, the facts and figures have been made comparable. The information in this publication is best understood in combination with the narrative contained in our Annual Report and Form 20-F 2011. All information from this and our other reports is available for online reading and downloading at: http://reports.shell.com
INTRODUCTION FROM THE CEO My colleagues on both the Board of Directors and the Executive Committee recognise how important it is to keep shareholders informed of Shell’s latest developments and we regularly communicate with them on strategy and performance. To aid investors in their analysis of Royal Dutch Shell, we publish this Investors’ Handbook: a compilation of five years’ worth of financial and operational information. But any analysis of the Company’s potential return must first be put into context. The current macroeconomic environment is uncertain and the global economy is likely to see continued high volatility in the coming years. Energy markets have been affected by unprecedented geopolitical events, such as the earthquake in Japan, the eurozone debt crisis and the Arab Spring. At the same time, rapid economic development in non-OECD countries is creating robust structural growth in energy demand. By 2030 global oil and gas demand could be 40% greater than it is today. This growth equates to seven times the current North Sea production. To meet that future demand will require a huge industry investment. The declining production of many traditional petroleum provinces makes the challenge all the more difficult. The industry has to grow production from new fields to more than offset the natural production declines of the old. As a result, intense competition exists for access to upstream resources and new downstream markets. But we believe our technology, project-delivery capability and operational excellence will remain key differentiators for Shell. As energy projects become more complex and more technically demanding, we believe our engineering expertise will be a deciding factor in the growth of our businesses. Innovation and a competitive mindset will also be crucial to our success. We have delivered the strategic drivers that made it possible for us to reach our latest performance targets: cost reduction, continual operational improvements and 16 successful project start-ups. Those achievements allowed us to offer some $10.5 billion of dividends in 2011, which is the largest dividend in our sector and more than 10% of the entire dividend payout of the FTSE 100. Our improving financial position also allows for a measured increase in both our investment levels and cash returns to shareholders in 2012. Over time, our performance is reflected in the returns we generate for our shareholders not only in terms of dividends we pay but also in the value of Royal Dutch Shell shares. Shell has built up a substantial portfolio of options for the next wave of production growth up to the end this decade. This portfolio has been designed to capture energy price upside and manage Shell’s exposure to industry challenges, such as cost inflation and political risk. We see significant opportunities in both greenfield exploration and established resource positions in the Gulf of Mexico, North American tight gas, liquids-rich shales and Australian LNG. Shell is working to mature these opportunities into viable projects, with an emphasis on financial returns. Our net spending in 2012 is expected to be $30 billion to support our growth programme for the medium term, with over 60 new projects under construction or in design. This investment is based on new cash-flow targets of up to $200 billion excluding working capital for 2012–15 assuming $100 oil prices, improved US gas prices and downstream environment from 2011. I hope you will find plenty of support for these encouraging plans in the Investors’ Handbook. Peter Voser Chief Executive Officer Shell Investors’ Handbook www.shell.com/intro_handbook_video 1
Page 1: BUILDING AN ENERGY FUTURE INVESTORS
Page 5 and 6: HIGHLIGHTS 2011 FIRST QUARTER SECON
Page 7 and 8: Shell Investors’ Handbook Summary
Page 9 and 10: FINANCIAL FRAMEWORK assuming that t
Page 11 and 12: KEY PROJECT S UPDATE AOSP DEBOTTLEN
Page 13 and 14: RESULTS 2007-2011 REVENUE $ million
Page 15 and 16: She Sh She Shell ll l In Inve ves e
Page 17 and 18: PHILIPPINES In October 2010, Shell
Page 19 and 20: TIGHT GAS AND LIQUIDS-RICH SHALES A
Page 21 and 22: At Shell, we are proud of our leade
Page 23 and 24: PROVED RESERVES In 2011, Shell adde
Page 25 and 26: AFRICA HIGHLIGHTS � Production am
Page 27 and 28: since October 2001. A pipeline expa
Page 29 and 30: OCEANIA HIGHLIGHTS � Production a
Page 31 and 32: The 2010 drilling moratorium in the
Page 33 and 34: DOWNSTREAM HIGHLIGHTS � Made good
Page 35 and 36: SUPPLY AND DISTRIBUTION A network o
Page 37 and 38: LUBRICANTS For the fifth consecutiv
Page 39 and 40: growth projects with partners and d
Page 41 and 42: In 2011, Shell and Cosan launched t
Page 43 and 44: Shell’s growth profile has recent
Page 45 and 46: CORPORATE SEGMENT The Corporate seg
Page 47 and 48: NORTH- WEST EUROPE ICELAND Corrib "
Page 49 and 50: GABON SAO TOME AND PRINCIPE SÃO TO
Page 51 and 52: SYRIA AND TURKEY [A] ANTALYA Antaly
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BRUNEI AND EAST MALAYSIA " " " " "
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AMERICAS NORTH-WEST USA Washington
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GREENLAND 0 100 200 300 400 km PANA
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CONSOLIDATED FINANCIAL DATA Shell I
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CONSOLIDATED STATEMENT OF CASH FLOW
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Shell Investors’ Handbook Consoli
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CAPITAL EMPLOYED [A] (AT DECEMBER 3
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UPSTREAM DATA UPSTREAM EARNINGS 201
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OIL AND GAS EXPLORATION AND PRODUCT
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2007 $ MILLION Revenue: OIL SANDS U
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Changes The tables present changes
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OIL, GAS, SYNTHETIC CRUDE OIL AND B
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TOTAL PRODUCTION AVAILABLE FOR SALE
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OIL AND GAS ACREAGE [A][B] (AT DECE
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DOWNSTREAM DATA OIL PRODUCTS AND RE
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OIL SALES AND RETAIL SITES OIL PROD
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SHELL SHARE PRODUCTION CAPACITY BY
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DIVIDENDS POLICY Shell’s policy i
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FINANCIAL CALENDAR Financial year e
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ADDRESSES REGISTERED OFFICE Royal D
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Full publication: PDF (92 pages), XLS (95 tables) - Reports - Shell

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