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Prices & Quotes - UK Markets - Royal Dutch Shell 'B' (RDSB)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 866.40p
Change Today:
-21.80p
Market Cap:
32,110m
Sector:
Oil & Gas Producers

Oil companies to ramp up plastic supply to counter shift to renewable energy

By Caoimhe Toman

Date: Friday 04 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Oil companies are set to ramp up their plastic production in a move to offset the shift towards renewable energy sources.


According to a report from Carbon Tracker, major oil companies, including Saudi Aramco and Royal Dutch Shell, plan to spend about $400bn to help grow the supply of virgin plastics by a quarter over the next five years.

Although plastic will be the main driver for oil demand growth in the near future, it is likely that it will stagnate as governments push to cut the use of single-use plastics and promote recycling.

The report said that demand for virgin plastics may peak in 2027, with growth slowing from 4% a year to 1%. This means that oil demand may have reached its peak in 2019.

"Remove the plastic pillar holding up the future of the oil industry, and the whole narrative of rising oil demand collapses," Kingsmill Bond, energy strategist at Carbon Tracker, said.

"It is simply delusional for the plastics industry to imagine that it can double its carbon emissions at the same time as the rest of the world is trying to cut them to zero," Bond said.

Other companies such as BP have decided to exit the industry. BP sold its petrochemicals business for $5bn to Ineos as it predicted that a ban on single use plastics would hit oil demand over the coming decades.

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RDSB Market Data

Currency UK Pounds
Price 866.40p
Change Today -21.80p
52 Week High 2,337.00p
52 Week Low 845.10p
Volume 8,036,669
Shares Issued 3,706.18m
Market Cap 32,110m

Performance Indicators

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Operating Margin
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What The Brokers Say

Strong Buy 12
Buy 0
Neutral 13
Sell 0
Strong Sell 2
Total 27
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

RDSB Dividends

  Latest Previous
  Q2 Q1
Ex-Div 13-Aug-20 14-May-20
Paid 21-Sep-20 22-Jun-20
Amount 16.00¢ 16.00¢

Trades for 28-Oct-2020

Time Volume / Share Price
16:37 10,000 @ 866.40p
16:35 391 @ 866.40p
16:35 1,629,344 @ 866.40p
16:30 574 @ 863.34p
16:29 35 @ 863.40p

RDSB Key Personnel

Chair Charles O Holliday
CEO Ben van Beurden
CFO Jessica Uhl