In preparing these financial statements, the Directors are required to: The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the transactions of Shell and the Company and disclose with reasonable accuracy, at any time, the financial position of Shell and the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006 (the Act) and, as regards the Consolidated Financial Statements, with Article 4 of the IAS Regulation and therefore are in accordance with IFRS as adopted by the EU. Accordingly, when bidding on new leases or projects, we could find ourselves at a competitive disadvantage because these state-owned entities may not require a competitive return. Also, the prevalence of remote working introduces additional risk because it expands the IT threat landscape. Staff receive clear guidance which includes requirements in Shell’s Ethics and Compliance Manual, a website focusing on data privacy, training modules where completion is monitored, and regular messages from Shell leaders on the importance of managing data privacy risks. -1 Directors’ Remuneration Report Shell Annual Report 2018 The Directors’ Remuneration Report for the year ended December 31, 2018 sets out the work of the Remuneration Committee (REMCO) in 2018 and how the policy that was approved by shareholders at the 2017 Annual … See “Our people” on pages 108, “Other Regulatory and Statutory Information” on page 182 and Note 25 to the “Consolidated Financial Statements” on pages 260. Our operations are subject to extensive HSSE regulatory requirements that often change and are likely to become more stringent over time. Our future performance depends on the successful development and deployment of new technologies and new products. For example, in Trading and Supply we have promoted a particular focus on compliance with trade controls in high-risk areas such as port agency, inspections and terminal operations. An important part of NAM’s gas production comes from the onshore Groningen gas field, in which EBN, a Dutch government entity, has a 40% interest and NAM a 60% interest. We continue to explore for and mature hydrocarbons across our Deep Water, Conventional Oil and Gas, Shales and Integrated Gas businesses. The effectiveness of the trade compliance programme is assessed annually (or more frequently if necessary). Governments could require operators to adjust their future production plans, as has occurred in the Netherlands, affecting production and costs. Annual Report 2009 Accounts 2009 Quarter 3 Report. We routinely practise implementing our emergency response plans to significant risks (such as a spill, toxic substances, fire or explosion). Violations of data protection laws carry fines and expose us and/or our employees to criminal sanctions and civil suits. Introduction The Annual Report for 2019 is provided to the community of Shell Cove Public School as an account of the school's operations and achievements throughout the year. On this page quarterly and full year results announcements, annual reports and publications. Facebook link opens in a new window Twitter link opens in a new window Linkedin link opens in a new window 1 Email link opens in a new window copy to clipboard. We monitor market risk exposure daily, using value-at-risk (VAR) techniques. This could have a material adverse effect on our earnings, cash flows and financial condition. 2009 Quarter 1 Report. Our Government Relations department engages with governments in countries where we operate to understand and influence local policies and to advocate Shell’s position on topics relevant to our industry. Accordingly, failure to manage our costs and our operational performance could result in a material adverse effect on our earnings, cash flows and financial condition. A printed copy of our Annual Report can be ordered free of charge. We expect to reduce our carbon intensity primarily through altering our product mix as customer (Scope 3) emissions represent the largest component of our carbon intensity. Investors should also consider the following, which could limit shareholder remedies. 11-Mar-2021 Royal Dutch Shell plc published its Annual Report and Accounts for the year ended December 31, 2020. Where appropriate, netting arrangements, credit insurance, prepayments and collateral are used to manage credit risk. State-owned entities could be motivated by political or other factors in making their business decisions. We continually assess the safety performance of our operations and make risk mitigation recommendations, where relevant, to keep the risk of an accident as low as possible. A printed copy of our Annual Report can be ordered free of charge. London, April 15, 2021 ROYAL DUTCH SHELL PLC NOTICE OF 2021 ANNUAL GENERAL MEETING AND SHELL ENERGY TRANSITION STRATEGY Virtual attendance and participation enabled for the Annual General Meeting (“AGM”) Shareholders encouraged to vote in advance of the AGM, but voting is also enabled during the meeting Board requests support for energy sector’s first shareholder [Read more] We actively monitor societal developments, such as regulation-driven carbon-pricing mechanisms and customer-driven preferences for products. ExxonMobil, BP, and Shell reports show massive losses from Covid-19 Matthew Farmer 5 February 2021 (Last Updated February 5th, 2021 11:32) Over the past week, ExxonMobil, BP, and Shell have released annual reports showing huge damage from 2020. We maintain a diversified portfolio to mitigate the impact of price volatility. The Shell Center for Sustainability is a sustainable development research partnership between Rice University and Shell Oil Company. If breaches occur, all entities, including ones that have yet to be fully integrated into Shell's systems and processes, are required to report the incident and use Shell's information security capabilities. state whether international accounting standards in conformity with the requirements of the UK Companies Act 2006, International Financial Reporting Standards adopted pursuant to Regulation (EC) No 1606/2002 as it applies in the European Union and International Financial Reporting Standards as issued by the IASB have been followed. Potential impacts include: forced divestment of assets; expropriation of property; cancellation or forced renegotiation of contract rights; additional taxes including windfall taxes, restrictions on deductions and retroactive tax claims; antitrust claims; changes to trade compliance regulations; price controls; local content requirements; foreign exchange controls; changes to environmental regulations; changes to regulatory interpretations and enforcement; and changes to disclosure requirements. These drivers include the extent and pace of the energy transition. We are exposed to treasury and trading risks, including liquidity risk, interest rate risk, foreign exchange risk and credit risk. These forums seek to address, monitor and review climate change issues. In developing new technologies and new products, unknown or unforeseeable technological failures or environmental and health effects could harm our reputation and licence to operate or expose us to litigation or sanctions. Technology and innovation are essential to our efforts to meet the world’s energy demands competitively. Financial Result Qtr 1 0809 Shell Gas Pakistan Ltd Annual Report 09. Shell Pakistan Limited Annual Report ‘15 FUELLING JOURNEYS, DRIVING CONNECTIONS Shell Pakistan Limited Shell House 6, Ch. Our response to the evolving risk landscape requires transparency and clarity around our plans and actions to achieve our climate target. Non-compliance with data protection laws could expose us to regulatory investigations, which could result in fines, penalties and harm to our reputation. The EU and the USA introduced sectoral sanctions against Venezuela in 2017, with the USA expanding them in 2018 and 2019. Annual Reports and publications. We have revised our approach to privacy impact assessments, also to comply with GDPR reporting requirements. Defined terms used in the Appendix below refer to terms as defined in the 2020 Annual Report and Accounts. Read about Shell’s energy transition strategy as we work to become a net-zero emissions energy business by 2050, in step with society’s progress towards the goal of the UN Paris Agreement on climate change. Our ability to achieve our strategic objectives depends on how we react to competitive forces. This information, together with the information set out in the Appendix below, which is extracted from the 2020 Annual Report and Accounts constitutes the material required for the purposes of compliance with DTR 6.3.5R. Assurance. For further explanations of how we manage the risk of the physical effects of climate change affecting our operations and supply chains, please refer to the risk factor "The nature of our operations exposes us, and the communities in which we work, to a wide range of health, safety, security and environment risks". The Shell General Business Principles (Principles) govern how Shell and its individual companies conduct their affairs, and the Shell Code of Conduct tells employees and contract staff how to behave in line with the Principles. Violation of data protection laws is a criminal offence in some countries, and individuals can be imprisoned or fined. Therefore, we may incur significant losses from different types of risks that are not covered by insurance from third-party insurers, potentially resulting in a material adverse effect on our earnings, cash flows and financial condition. If a major risk materialises, such as an explosion or hydrocarbon leak or spill, this could result in injuries, loss of life, environmental harm, disruption of business activities, loss or suspension of permits, loss of our licence to operate and loss of our ability to bid on mineral rights. Our challenge is to ensure that all employees and contract staff comply with the Principles and the Code of Conduct. close. We have credit risk policies in place which seek to ensure that products are sold to customers with appropriate creditworthiness. Where we are the operator of a joint arrangement, the other partner(s) could still be able to veto or block certain decisions, which could be to our overall detriment. Royal Dutch Shell plc will also file its Form 20-F for the year ended December 31, 2020, with the U.S. Securities and Exchange Commission today. These require the Directors to prepare financial statements for each financial year. Feb 4, 2021 . Any violation of sanctions could lead to loss of import or export privileges and significant penalties on or prosecution of Shell or its employees. We continue to address challenges with compliance in data-heavy companies controlled by Shell but not fully integrated into our systems. If we fail to continue developing or deploying technology and new products, or fail to make full, effective use of our data in a timely and cost-effective manner, there could be a material adverse effect on the delivery of our strategy and our licence to operate. The range of commodity prices used in our project and portfolio evaluations is subject to a rigorous assessment of short-, medium- and long-term market drivers. We face competition in all our businesses. The full, comprehensive operational and financial report for the year ended Dec 31, 2018. Senior Management regularly reviews mandated trading limits. We also benefit from working with start-ups. The Board of Directors of Royal Dutch Shell plc (the “Company”) has announced the appointment of Sir Andrew Mackenzie as the new Company Chair with effect from the conclusion of Shell’s 2021 Annual General Meeting, scheduled for May 18, 2021. Annual Report 2009 Accounts 2009 Quarter 3 Report. The 2019 Annual Report and Form 20-F, the 2019 Sustainability Report and the 2019 Investors' Handbook are available on our report website. [C] Natural gas volumes are converted into oil equivalent using a factor of 5,800 scf per barrel. Shell Malaysia is growing the country’s energy sector. While we believe these lawsuits to be without merit, losing any of them could have a material adverse effect on our earnings, cash flows and financial condition. Page numbers and section cross-references in the Appendix below refer to pages and sections in the 2020 Annual Report and Accounts. Shell’s Audit Committee reviews all proved reserves bookings and Shell's Executive Committee is responsible for final approval. SHELL PUBLISHES ANNUAL REPORT AND ACCOUNTS 12-Mar-2020 Royal Dutch Shell plc published its Annual Report and Accounts for the year ended December 31, 2019. They can harm the well-being of our people, inflict loss of life and injuries, damage the environment and disrupt our operational activities. Our portfolio of cash investments is diversified to avoid concentrating risk in any one instrument, country or counterparty. See “Other regulatory and statutory information” on page 182. A central group of reserves experts undertakes the primary assurance of the proved reserves bookings. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. We conduct detailed assessments for all our sites and activities, and implement appropriate measures to deter, detect and respond to security risks. In our Shell Ventures scheme, we invest in and partner with start-ups and small and medium-sized enterprises that are in the early stages of developing new technologies. If we move much faster than society, we risk investing in technologies, markets or low-carbon products that are unsuccessful because there is limited demand for them. The Directors are also responsible for safeguarding the assets of Shell and the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Because of DG COMP’s fining guidelines, any future conviction of Shell or any of its joint arrangements or associates for violation of EU competition law could potentially result in significantly larger fines and have a material adverse effect on us. Even in cases where we have not expressly retained certain liabilities, we may still be held liable for past acts, failures to act or liabilities that are different from those foreseen. Text only list of upcoming events . We have standards and a clear governance structure to help manage HSSE risks and avoid potential adverse effects. Published proved oil and gas reserves estimates could also be subject to correction because of errors in the application of published rules and changes in guidance. See “Other Regulatory and Statutory Information” on page 182 and "Our people" on page 108. Societal expectations of businesses are increasing, with a focus on business ethics, quality of products, contribution to society, safety and minimising damage to the environment. See “Liquidity and capital resources” on page 81. Should our access to debt markets become more difficult, the potential impact on our liquidity could have a material adverse effect on our operations. We carefully tailor our sales processes to buyers’ perceived expectations so we can deliver the most competitive outcomes. Rising climate change concerns and the effects of the energy transition have led and could lead to a decrease in demand and potentially affect prices for fossil fuels. Shell is a global group of energy and petrochemicals companies. Find a job. Consult our most recent Annual Report, our Form 20-F, and our Investors' Handbook to get the latest results on both our operational and fiscal performance. Our insurance subsidiaries are adequately capitalised and they may transfer risks to third-party insurers where economical, effective and relevant. Challenges include: uncertain geology; frontier conditions; the existence and availability of necessary technology and engineering resources; the availability of skilled labour; the existence of transportation infrastructure; project delays; the expiration of licences; delays in obtaining required permits; potential cost overruns; and technical, fiscal, regulatory, political and other conditions. In preparing these financial statements, the Directors have also elected to comply with IFRS as issued by the International Accounting Standards Board (IASB). Violations of anti-bribery, tax-evasion and anti-money laundering laws carry fines and expose us and/or our employees to criminal sanctions, civil suits and ancillary consequences (such as debarment and the revocation of licences). The TSM Governance Team examines opportunities for improving the mining industry’s performance and reputation with key communities of interest. The EU General Data Protection Regulation (GDPR), which came into effect in May 2018, imposed increased financial penalties of up to a maximum of 4% of global annual turnover. Achieving our target to become net zero on all emissions from our operations will result in additional cost. The USA continues to impose comprehensive sanctions against Iran, while the EU and other nations continue to maintain targeted sanctions. Certain governments and regulatory bodies have, in Shell’s opinion, exceeded their constitutional authority by: attempting unilaterally to amend or cancel existing agreements or arrangements; failing to honour existing contractual commitments; and seeking to adjudicate disputes between private litigants. This could negatively affect our brand, reputation and licence to operate, which could limit our ability to deliver our strategy, reduce consumer demand for our branded and non-branded products, harm our ability to secure new resources and contracts, and restrict our ability to access capital markets or attract staff. We continually measure and improve our cyber-security capabilities. The Joint Venture Asset Manager seeks to influence operators and other partners to adapt their practices in order to drive value appropriately and to mitigate identified risks. Pilipinas Shell Annual and Sustainability Report 2019; View Pilipinas Shell Annual and Sustainability Report 2019; Bitumen FreshAir Debuts in Bohol; First Integrated Hydrogen Manufacturing Facility in the Philippines; Be Well: Promoting a Speak-up Culture; Bida sa Kalsada: Shell Rimula Tsuperstar; Your Neighborhood Next-Gen Retail Station In certain circumstances, directors may receive director disqualification orders. Real or perceived failures of governance or regulatory compliance or a perceived lack of understanding of how our operations affect surrounding communities could harm our reputation. Reporting We have voluntarily reported – openly and honestly - on our environmental and social performance since 1997. An annual assurance review assesses how the joint venture’s standards and processes align with those of Shell. We use various financial instruments for managing exposure to foreign exchange and interest rate movements. [B] Includes proved reserves associated with future production that will be consumed in operations. We monitor the security situation, and liaise with host communities, governmental and non-governmental organisations to help promote peaceful and safe operations. We may be unable to divest assets at acceptable prices or within the timeline envisaged because of market conditions or credit risk. Staff receive clear guidance which includes requirements in Shell’s Ethics and Compliance Manual, an ABC/AML-specific website, training modules where completion is monitored and regular messages from Shell leaders on the importance of managing ABC/AML risks. Oil and gas production available for sale. Financial calendar; Financial calendar. Downstream main activity is in the manufacturing, marketing and distribution of oil products namely various grade … The gas field is in the process of being closed down due to earthquakes induced by gas production. Changes in assumptions for mortality, retirement age or pensionable remuneration at retirement could also cause significant changes to the funding level of future liabilities. Violations of trade compliance laws and regulations, including sanctions, carry fines and expose us and our employees to criminal sanctions and civil suits. Accordingly, where we have limited influence, we are exposed to operational risks that could have a material adverse effect on our earnings, cash flows and financial condition. 2009 Quarter 2 Report. This could reduce our degree of control and our ability to identify and manage risks. Find a job. Shell only controls its own emissions. Show all. We have updated our strategy and organisational structure to be more focused on the sectors where our customers operate, in order to make us better able to compete in the current evolving energy landscape. It also features a 2017 report comparison tool, download centre, chart generator and … If we are unable to find economically viable, publicly acceptable solutions that reduce our GHG emissions and/or GHG intensity for new and existing projects and for the products we sell, we could experience financial penalties or extra costs, delayed or cancelled projects, potential impairments of our assets, additional provisions and/or reduced production and product sales. This involves adopting an integrated approach for all stages, from basin choice to development. Low oil and gas prices could also affect our ability to maintain our long-term capital investment programme and dividend payments. Shell publishes Annual Report and Accounts. Prolonged periods of low oil and gas prices, or rising costs, have resulted and could continue to result in projects being delayed or cancelled. Our country chairs are responsible for the implementation of country reputation plans which are updated annually. Both transactions completed on April 1, 2020. The principal risks and uncertainties relating to the Company are set out on pages 28-37 of the 2020 Annual Report and Accounts. If this were to continue, it could have a material adverse effect on the price of our securities and our ability to access capital markets. The standards and governance structure also help us to develop mitigation strategies aimed at ensuring that if an HSSE risk materialises, we avoid catastrophic consequences and have ways of trying to remediate any environmental damage. the financial statements, which have been prepared in accordance with international accounting standards in conformity with the requirements of the UK Companies Act 2006, International Financial Reporting Standards adopted pursuant to Regulation (EC) No 1606/2002 as it applies in the European Union and International Financial Reporting Standards as issued by the IASB, give a true and fair view of the assets, liabilities, financial position and profit of Shell and the Company; and. We could also be subject to litigation from persons or entities allegedly affected by data protection violations. The exact shut-in date depends on security of supply considerations and is still to be decided. by oilandgaspress . GLOBAL — Shell’s Annual Report should be seen as a clear warning to investors that the age of fossil fuels is coming to an end, according to campaigners with 350.org. Khaliquzzaman Road Karachi - 75530 Pakistan. Accordingly, price fluctuations could have a material adverse effect on our earnings, cash flows and financial condition. Subscribe to Shell World UK Magazine or download copies of the latest Annual or Sustainability Report. Specific remediations within the agreed scope of responsibilities are planned. We use competitive techniques and benchmark our approach internally and externally. Our business exposes us to risks of social instability, criminality, civil unrest, terrorism, piracy, cyber-disruption and acts of war that could have a material adverse effect on our operations. The Scotford Upgrader is owned by the Athabasca Oil Sands Project, a joint venture operated by Shell and owned by Shell, Chevron Canada Corporation, and Marathon Oil Sands LP. 10 | ANNUAL REPORT 2020 Criteria for investment and divestment decisions include sustainable development considerations (economic, social and environmental) and an appraisal of the risks of the investment. Shell’s major projects show our technology and expertise in action. We seek to obtain the best possible information to enable us to assess threats and risks. We maintain an anti-bribery and anti-money-laundering (ABC/AML) programme with adequate resources, a comprehensive governance structure and established reporting lines. On this page, TOTAL SE gives you access to its annual reports, and notably the Universal Registration Document (ex Registration Document) including the Annual Financial Report. We expect that a growing share of our GHG emissions will be subject to regulation, resulting in increased compliance costs and operational restrictions. Higher prices could also reduce demand for our products, which could result in lower profitability, particularly in our Oil Products and Chemicals business. Reporting We have voluntarily reported – openly and honestly - on our environmental and social performance since 1997. TIDMRDSA TIDMRDSB 11-Mar-2021 Royal Dutch Shell plc published its Annual Report and Accounts for the year ended December 31, 2020. The Shell Sustainability Report 2019, published April 7, 2020, is our 23rd report. The physical effects of climate change such as, but not limited to, increases in temperature and sea levels and fluctuations in water levels could also adversely affect our operations and supply chains. 2019 Annual Report 4641 Page 1 of 21 Shell Cove Public School 4641 (2019) Printed on: 30 March, 2020. Our aim is to achieve this by shifting the focus of our portfolio as we build our power, hydrogen, biofuels, carbon capture and storage and nature-based solutions businesses and activities; demonstrating resilience by adopting the guidance on disclosure by the Task Force on Climate-related Financial Disclosures; and.