May 2, 2019
Royal Dutch Shell: communication value
Royal Dutch Shell's chief bean counter argues that the crude producer should focus on value not volume. Unlike its rivals such as Total and ExxonMobil, Shell's oil volumes fell year on year. Probably more important for traders was that Shell exceeded the market's expectations for quarterly earnings by about a fifth. Shell's share performance, including dividends, was 8 percentage points behind that of BP. Despite this, the shares still look a tad pricey compared with its neighbours. Shell says capex will climb towards $25bn to 30bn annually from its $21.9bn three-year average.
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