壳牌公司Shell市场前景及投资研究报告-培训课件外文版2024.6中石油中石化

COMPANIES

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PRODUCTSShellCHAPTER

01OverviewOilproductionworldwidefrom1998to2022(inmillionmetrictons)Globaloilproduction1998-20225,0004,5004,0003,5003,0002,5002,0001,5001,00050001998

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20223/statistics/265229/global-oil-production-in-million-metric-tonsGlobaloilproductionhasbeenslowlyincreasingsince1998.In2022,globalcrudeoilproductionamountedtoapproximately4.4billionmetrictons.Figurepeakedin2018,whentheoilproductionworldwidenearlyreached4.5billionmetrictons.

ReadmoreNote(s):Worldwide;1998to2022Source(s):EnergyInstitute;Kearney;KPMGNaturalgasproductionworldwidefrom1998to2023(inbillioncubicmeters)Globalnaturalgasproduction1998-20234,5004,0003,5003,0002,5002,0001,5001,00050001998

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20234Description:Globalnaturalgasproductionamountedtosome4.08trillioncubicmetersin2023,signifyingaslightdecreasecomparedtothepreviousyear.TheUnitedStates,Russia,andandIranaresomeoftheworld'slargestnaturalgasproducers.

ReadmoreNote(s):Worldwide;1998to2023Source(s):BP;IEASelectedoilcompaniesworldwiderankedbydailycrudeoilproductionasof2022(in1,000barrelsofoilperday)Selectedglobaloilcompaniesbydailyproduction2022Productioninthousandbarrelsperday2,000

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6,00008,00010,00012,00014,00016,000SaudiAramco(SaudiArabia)PetroChina(China)**ExxonMobil(U.S.)13,6002,4822,354Petrobras(Brazil)2,142Pemex(Mexico)1,7641,700ConocoPhillips(U.S.)Shell(Netherlands)1,4601,4401,112769Chevron(U.S.)BP(UK)*ChinaPetroleum&Chemical[Sinopec](China)**Total(France)1.525Description:SaudiAramcoistheworld'slargestoilcompanybasedondailyoilproduction.Inthe2022fiscalyear,SaudiArabia'sstate-ownedoilcompanyreportedacrudeoiloutputofsome13.6millionbarrelsperday.Thiswasoverathreefoldincreasefromtheamountextractedbyitsclosestcompetitor.ReadmoreNote(s):Worldwide;2022;respectivecompanyfiscalyearsended2022.Figuresingrayexplicitlyincludenaturalgasliquids;*FigureforBPmanuallyaddedfromsubsidiaryandBPshareofequity-accountedentitiesdata.FiguresforPetroChinaand[...]

ReadmoreSource(s):Varioussources(companydata)BrandvalueofShellfrom2015to2024(inmillionU.S.dollars)Shell'sbrandvalue2015-202460,00050,30249,92548,20950,00040,00030,00020,00010,000047,52942,29542,15639,42336,78331,66530,71620152016201720182019202020212022202320246Description:TheUnitedKingdom-basedoilandgasproducerShellhadabrandvalueofsome50.3billionU.S.dollarsin2024.Thiswasthecompany'shighestbrandvalueintheperiodofconsideration,withShellremainingthemostvaluableoilandgascompanyintheworld.ReadmoreNote(s):Worldwide;2015to2024Source(s):BrandFinanceCHAPTER

02FinancialsRevenueofShellfrom2010to2023(inbillionU.S.dollars)Shell'srevenue2010-2023500470.17467.15451.2445040035030025020015010050421.11388.38381.3368.06344.88316.62305.18264.96261.5233.59180.540201020112012201320142015201620172018201920202021202220238Description:Shell,formerlyRoyalDutchShell,reportedatotalrevenueof316.62billionU.S.dollarsin2023.Thiswasanotabledecreasecomparedtothepreviousyear,whenthecompanyprofitedfromdecade-highgasandoilprices.Asoneofthelargestoilandgascompaniesintheworld,thecompanyreporteditsgreatestprofitsduringyearswhentheaveragebenchmarkoilprices,suchastheBrentcrude,wereparticularlyhigh.

ReadmoreNote(s):Worldwide;2010to2023Source(s):ShellRevenueofShellin2022and2023,bysegment(inmillionU.S.dollars)Shell'srevenue2022-2023,bysegmentRevenueinmillionU.S.dollars202360,0002022020,00040,00080,000100,000120,000140,000160,000ChemicalsandProductsMarketingRenewablesandEnergySolutionsIntegratedgasUpstream9Description:Shellgeneratedaround118.8billionU.S.dollarsthroughitschemicalsandproductssegmentin2023.Thismadeitthelargestbusinesssegmentintermsofsales.Revenuesdecreasedacrossallsegmentsbetween2022and2023.Shellisoneofthetopoilandgascompaniesworldwide,operatingineverysegmentoftheoilandgasindustry.ThecompanyisheadquarteredinLondon,UnitedKingdom.ReadmoreNote(s):Worldwide;2022and2023;Excludinginter-segmentsalesandrevenuesattributedtoitscorporatesegment.Source(s):ShellRevenueofShellfrom2011to2023,byregion(inbillionU.S.dollars)Shell'srevenue2011-2023,byregionAsia,Oceania,AfricaEuropeUnitedStatesOtherAmericas200180160140120100806040200201120132015201720192021202310Description:In2023,Shellgeneratedsome118.14billionU.S.dollarsofrevenueinEurope.Thecompanygeneratedmostofitsrevenueinthisregion,withtotalshavingincreasedintheprevioustwoyears.Shellisoneofthetopoilandgascompaniesworldwide,operatingineverysegmentoftheoilandgasindustry.ReadmoreNote(s):Worldwide;2011to2023;Excludinginter-segmentsales.Source(s):ShellNetincome/lossofShellfrom2010to2023(inbillionU.S.dollars)Shell'sincomefortheperiod2010-20235042.8740302010031.0926.9623.9120.4720.619.6316.5316.414.7313.444.772.2-10-20-30-21.52020201020112012201320142015201620172018201920212022202311Description:In2023,Shell'snetincomeamountedto19.63billionU.S.dollars.Thisisanoticeabledecreasecomparedtothepreviousyear,whentheAnglo-Dutchcompanyreportedahistoricnetprofitofroughly42.87billionU.S.dollars.HeadquarteredLondon,UnitedKingdom,Shellisnotonlyoneoftheworld’slargestoilandgascompanies,butalsooneofthelargestcompaniesworldwideingeneral.ReadmoreNote(s):Worldwide;2010to2023Source(s):ShellEarningsofShellin2022and2023,bysegment(inmillionU.S.dollars)Shell'sincome2022-2023,bysegmentEarningsinmillionU.S.dollars20232022-5,000Upstream05,00010,0008,52815,00020,00025,00016,2227,046IntegratedgasRenewablesandEnergySolutionsMarketing22,2123,038-1,0592,9502,1331,530ChemicalsandProductsCorporate4,515-2,811-2,46112Description:In2023,Shell'supstreamsegmenthadthehighestearnings,at8.5billionU.S.dollars.Thatyear,therewasanotabledecreaseinearningsfortheintegratedgassegment,fallingtoaround7billionU.S.dollarsfrom22.2billionU.S.dollarsthepreviousyear.Mostnotably,thecompany'srenewablesandenergysolutionsegmentreporteditsfirstyearofprofits.Shellisoneofthetopfiveoilandgascompaniesworldwide,operatingineverysegmentoftheoilandgasindustry.Thecompanyhas[...]

ReadmoreNote(s):Worldwide;2022and2023Source(s):ShellTotalassetsofShellfrom2010to2023(inbillionU.S.dollars)Shell'stotalassets2010-2023500450443.02411.28407.1406.27404.34404.38399.1940035030025020015010050379.27357.51353.12350.29340.16337.47317.2702010201120122013201420152016201720182019202020212022202313Description:Shell'stotalassetsvaluedat406.27billionU.S.dollarsin2023,adecreasecomparedtothepreviousyear.In2020,thecompanydivestedaconsiderablenumberofassets,losingabout25billionU.S.dollarscomparedtotheprioryear.

ReadmoreNote(s):Worldwide;2010to2023Source(s):ShellNumberofemployeesofShellfrom2010to2023Shell'semploymentfigures2010-2023120,000100,00080,00060,00040,00020,00002010201120122013201420152016201720182019*202020212022202314Description:Shell,formerRoyalDutchShell,employedapproximately103,000peopleworldwidein2023.Shellisoneofthetopsixpubliclytradedoilandgascompanies(alsoknownas‘BigOil)worldwide,operatingineverysegmentoftheoilandgasindustry.Itisalsooneofthelargestcompaniesworldwidebyrevenue.ThecompanyisheadquarteredinLondon,UnitedKingdomandwasestablishedthroughamergerofUnitedKingdom-basedShellTransportandTradingCompanyandtheRoyalDutch[...]

ReadmoreNote(s):Worldwide;2010to2023Source(s):ShellCHAPTER

03ReservesandproductionOilandgasreservesofShellfrom2010to2023(inmillionbarrelsofoilequivalent)Shell'soilandgasreserves2010-2023ShellsubsidiariesShellshareofjointventuresandassociates16,00014,0003,1094,0973,9462,2082,05612,00010,0008,0006,0004,0002,00003,7012,9001,2851,1169,9802,6309091,2618,3171,5048,283202390211,04010,835201310,176201010,320201110,181201410,177201710,2949,87320129,11720158,4568,22220162018201920202021202216Description:Shellreportednearly9.8billionbarrelsofoilequivalentoilandgasreservesasofDecember31,2023.Mostwerelistedundersubsidiaries,at8.3billionbarrels.Thefigureincludedbothprovedandundevelopedreserves.Intheperiodofconsideration,therecordlowwasin2020,at9.1billionbarrelsofoilequivalent.ReadmoreNote(s):Worldwide;2010to2023Source(s):ShellOilandnaturalgasliquidsproductionofShellfrom2015to2023(in1,000barrels)Shell'soilandNGLproduction2015-2023Shellsubsidiaries35,861Shellshareofjointventuresandassociates38,259700,00035,58638,326600,000500,000400,000300,000200,000100,000038,35835,98228,95122,98941,220627,276600,186605,576595,539576,170578,924503,971507,581454,32620152016201720182019202020212022202317Description:In2023,Shellproduced507.6millionbarrelsofcrudeoilandnaturalgasliquidsthroughsubsidiariesandfurtheraround23millionbarrelsthroughjointventuresandassociates.Shellisoneofthetopoilandgascompaniesworldwide,operatingineverysegmentoftheoilandgasindustry.ThecompanyisheadquarteredinLondon,UnitedKingdom.ReadmoreNote(s):Worldwide;2015to2023Source(s):ShellOilandnaturalgasliquidsproductionofShellin2023,byregion(in1,000barrels)Shell'soilandNGLproduction2023,byregionProductioninthousandbarrelsShellsubsidiaries

Shellshareofjointventuresandassociates60,000020,00040,00080,000100,000120,000140,000160,000180,00021,838200,000AsiaSouthAmericaNorthAmericaAfrica160,755150,40262113,50938,22134,324Europe52Oceania

10,37018Description:Shellproducedsome160.8millionbarrelsofoilandgasliquidsthroughsubsidiariesinAsia,morethaninanyotherregion.Thiswasinadditionto21.8millionbarrelsproducedviajointventuresandassociatesinthatregion.Shellisoneofthetopoilandgascompaniesworldwide,operatingineverysegmentoftheoilandgasindustry.ReadmoreNote(s):Worldwide;2023Source(s):ShellNaturalgasproductionofShellin2023,byregion(inmillionstandardcubicfeet)Shell'snaturalgasproductionbyregion2023ProductioninmillionstandardcubicfeetShellsubsidiaries

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1,100,000AsiaOceania735,660700,24829,77Europe259,67755,351SouthAmericaNorthAmericaAfrica320,67585241,739121,82419Description:In2023,ShellproducedmorenaturalgasinAsiathaninanyotherregion.Naturalgasproductionthatyearreachedatotalofmorethantwotrillionstandardcubicfeet,ofwhich990billionwasproducedthroughsubsidiariesinAsia.Shellisoneofthetopoilandgascompaniesworldwide,operatingineverysegmentoftheoilandgasindustry.ReadmoreNote(s):Worldwide;2023Source(s):ShellRenewableenergycapacityinstalledandinthepipelineofShellfrom2020to2023(ingigawatts)Shell'sinstalledandplannedrenewablescapacity2020-2023InstalledcapacityPipeline*4.54.03.53.02.52.04.24.12.52.32.21.71.51.00.50.00.70.4202020212022202320Description:Shellreportedaoperationalinstalledrenewablecapacityofsome2.5gigawattsfor2023.Thatwasanincreaseof0.3gigawattscomparedtothepreviousyear.Meanwhile,itsrenewablepipelineshrankby0.1gigawattsinthesametimeperiod.

ReadmoreNote(s):Worldwide;2020to2023;Shellinterest;*Includescapacityunderconstructionand/orcommittedforsaleafterlong-termofftakeagreements(Source(s):ShellReadmoreCHAPTER

04ExpenditureCapitalexpenditureofShellfrom2011to2023(inmillionU.S.dollars)Shell'scapitalspending2011-202345,00039,97540,00035,00030,00025,00020,00015,00010,0005,000032,57631,67626,30126,13123,01122,97122,99322,60022,11620,84519,00016,585201120122013*2014*20152016201720182019202020212022202322Description:Shellspent23billionU.S.dollarsoncapitalinvestmentsin2023,upfrom22.6billionU.S.dollarsthepreviousyear.Inthelastdecade,peakspendingwasrecordedin2013whenthecompanyboughtpartofRepsol'sLNGbusiness.

ReadmoreNote(s):Worldwide;2011to2023;*ThesourcenotesthatthisincludesconsiderationpaidfortheacquisitiononJanuary1,2014,ofRepsolliquefiednaturalgas(LNG)businessesoutsideNorthAmerica(2014:$730millionUSD;2013:$3,385million[...]

ReadmoreSource(s):ShellResearchanddevelopmentexpenditureofShellfrom2010to2023(inmillionU.S.dollars)Shell'sR&Dspending2010-20231,4001,3181,3071,2871,2221,2001,00080060040020001,1231,0931,0751,0191,0149869629229078152010201120122013201420152016201720182019202020212022202323Description:Shellspent1.29billionU.S.dollarsonresearchanddevelopmentinits2023fiscalyear.Thiswasanincreasecomparedtothepreviousyearandthehighestspendinginadecade.

ReadmoreNote(s):Worldwide;2010to2023Source(s):ShellExplorationexpensesofShellfrom2010to2023(inmillionU.S.dollars)Shell'sexplorationcosts2010-20236,0005,2785,0004,0003,1043,0002,3542,26620112,10820162,03620101,94520172,0001,00001,74720201,75020231,71220221,43920141,42320211,34020181,290201520122013201924Description:Shellspentsome1.75billionU.S.dollarsonexplorationactivitiesin2023.Thiswasslightlymorethanthepreviousyear.Bycomparison,thepeakwasrecordedin2013,atnearly5.3billionU.S.dollars.Shellisoneofthetopoilandgascompaniesworldwide,operatingineverysegmentoftheoilandgasindustry.ReadmoreNote(s):WorldwideSource(s):ShellCHAPTER

05SharesanddividendsNumberofShellsharesfrom2010to2023(inmillions)Shell'snumberofshares2010-20239,0008,2838,2238,0587,8347,7967,7628,0007,0006,0005,0004,0003,0002,0001,00007,6507,3476,2616,2916,3116,3206,2136,1332010201120122013201420152016201720182019202020212022202326Description:Shell’snumberofsharesamountedtoroughly7.65billionin2023.Thiswasanincreasefromthenumberofsharesavailablein2010;whichequaledabout6.1billionshares.

ReadmoreNote(s):Worldwide;2010to2023Source(s):ShellEarnings/lossesperShellsharefrom2010to2023(inU.S.dollars)Shell'searningspershare2010-202375.76654.974.2743.282.882.8232.62.592.361.9721.5810.580.310-1-2-3-4-2.782020201020112012201320142015201620172018201920212022202327Description:Shell'sbasicearningspersharestoodat2.88U.S.dollarsin2023.Thiswasanoticeabledecreasecomparedtothepreviousyear,whenthecompany'searningspersharestoodatarecord5.76U.S.dollarsfollowingprofitsmadeoffdecade-highoilandgasprices.ReadmoreNote(s):Worldwide;2010to2023Source(s):ShellDividendspaidbyShellfrom2010to2023(inbillionU.S.dollars)Shell'sdividendspaid2010-20231815.716141210815.210.99.989.79.449.378.397.397.27.277.286.886.3264202010201120122013201420152016201720182019202020212022202328Description:Shellpaid8.39billionU.S.dollarsindividendsin2023.Thiswasanincreasecomparedtothepreviousyear.Dividendpaymentpeakedin2018,at15.7billionU.S.dollars.Shellisoneofthelargestoilandgascompaniesworldwide,operatingineverysegmentoftheoilandgasindustry.ThecompanyisheadquarteredinLondon,UnitedKingdom.ReadmoreNote(s):Worldwide;2010to2023Source(s):ShellCHAPTER

06EnvironmentalfootprintDirectgreenhousegasemissionsofShellfrom2007to2023(inmilliontonsofcarbondioxideequivalent)Shell'sGHGemissions2007-2023908280706050403020100767675747373727272717069636051502007200820092010201120122013201420152016201720182019202020212022202330Description:ThevolumeofgreenhousegasesemittedbyShellworldwidedecreasedby32milliontonsofcarbondioxideequivalentbetween2007and2023.Inthelatteryear,thetotaldirectgreenhousegasemissionsofShellstoodat50milliontonsofcarbondioxideequivalent.ReadmoreNote(s):Worldwide;2007to2023Source(s):ShellVolumeofwastedisposedbyShellfrom2007to2023,bytype(in1,000metrictons)Shell'swasteproduction2007-2023,bytypeHazardousNon-hazardous3,5003,0002,5002,0002,2951,8992,0561,8501,0791,1081,1391,5001,00050001,1351,6191,4911,4201,6741,8201,3821,4071,4849961,04820101,025202196290786882074068869865869863863159255852947420072008200920112012201320142015201620172018201920202022202331Description:Shelldisposedof2.25millionmetrictonsofwastein2023.Ofthisamount,631,000metrictonswerehazardous.Wastevolumesincreasedbetween2022and2023.Shellisoneoftheworld'slargestoilandgascompaniesandactiveacrossthewholeoilandgasvaluechain.ReadmoreNote(s):Worldwide;2007to2023Source(s):ShellVolumeofoperationalandsabotagespillsofShellfrom2007to2023(in1,000metrictons)Shell'soilspillsvolume2007-2023OperationalspillsSabotagespills1816141210864202007200820092010201120122013201420152016201720182019202020212022202332Description:In2023,Shellrecordedoperationalspillsofsome370metrictons,comparedwith1,400metrictonsspilledduetosabotage.Thiswasanincreasecomparedtothepreviousyear,whichhasseenthelowestannualvolumespilled.ThecompanyindicatesthatamajorityofitssabotagespillswererelatedtoitsoperationsinNigeria.In2008and2009,equipmentfailureandcriminalactivityresultedinthecompany'smostsignificantoilspills,whenaround30,000metrictonsofoilfloodedthe[...]ReadmoreNote(s):Worldwide;2007to2023Source(s):ShellCHAPTER

07CompetitorsBrandvalueofleadingoilandgascompaniesworldwidein2024(inmillionU.S.dollars)Leadingoilandgascompanies'brandvalueworldwide2024BrandvalueinmillionU.S.dollars010,00020,00030,00040,00050,00050,30260,000ShellSaudiAramcoPetroChinaSinopec41,56228,50026,651BP18,53317,00916,75415,226TotalEnergiesEquinorAdnocChevron14,80614,561Petronas34Description:Shellhasthehighestbrandvalueofanyoilandgascompanyworldwide.In2024,itsbrandvaluewasestimatedat50.3billionU.S.dollars.ThisputitnotablyaheadofitsBigOilcompetitors,aswellasstate-ownedenterprisessuchasAramco.

ReadmoreNote(s):WorldwideSource(s):BrandFinanceLeadingoilandgascompaniesworldwidebasedonrevenueasof2023(inbillionU.S.dollars)Leadingglobaloilandgasproducersbasedonrevenue2023RevenueinbillionU.S.dollars050100150200250300350400Sinopec,China*PetroChina,ChinaExxonMobil,U.S.ShellPLC,UK372.52357.01313.9305.57TotalEnergies,FranceBP,UK204.96197.56184.75Chevron,U.S.MarathonPetroleum,U.S.Valero,U.S.139.66138.64Phillips66,U.S.133.81Equinor,NorwayEniSpA.,Italy113.08109.06Petrobras,BrazilIndianOilCorporationLtd,IndiaLukoil,Russia104.1391.890.7435Description:Sinopec(ChinaPetroleum&ChemicalCorporation)istheleadingglobaloilandgascompanybyrevenuesgenerated.Inits2022fiscalyear,theChinesestate-ownedenterprisegenerated372.5billionU.S.dollarsinrevenues.

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