ROYAL DUTCH SHELL PLC

10th ANNUAL GLOBAL OIL & GAS CONFERENCE DEUTSCHE BANK – LONDON SEPTEMBER 23, 2010 SIMON HENRY CHIEF FINANCIAL OFFICER

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Copyright of Royal Dutch Shell plc

23/09/2010

DEFINITIONS AND CAUTIONARY NOTE
Reserves: Our use of the term “reserves” in this presentation means SEC proved oil and gas reserves for all 2009 data, and includes both SEC proved oil and gas reserves and SEC proven mining reserves for 2007 and 2008 data. Resources: Our use of the term “resources” in this presentation includes quantities of oil and gas not yet classified as SEC proved oil and gas reserves or SEC proven mining reserves. Resources are consistent with the Society of Petroleum Engineers 2P and 2C definitions. Organic: Our use of the term Organic includes SEC proved oil and gas reserves and SEC proven mining reserves (for 2007 and 2008) excluding changes resulting from acquisitions, divestments and year-end pricing impact. To facilitate a better understanding of underlying business performance, the financial results are also presented on an estimated current cost of supplies (CCS) basis as applied for the Oil Products and Chemicals segment earnings. Earnings on an estimated current cost of supplies basis provides useful information concerning the effect of changes in the cost of supplies on Royal Dutch Shell’s results of operations and is a measure to manage the performance of the Oil Products and Chemicals segments but is not a measure of financial performance under IFRS. The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate entities. In this presentation “Shell”, “Shell group” and “Royal Dutch Shell” are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this presentation refer to companies in which Royal Dutch Shell either directly or indirectly has control, by having either a majority of the voting rights or the right to exercise a controlling influence. The companies in which Shell has significant influence but not control are referred to as “associated companies” or “associates” and companies in which Shell has joint control are referred to as “jointly controlled entities”. In this presentation, associates and jointly controlled entities are also referred to as “equity-accounted investments”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect (for example, through our 34% shareholding in Woodside Petroleum Ltd.) ownership interest held by Shell in a venture, partnership or company, after exclusion of all third-party interest. This presentation contains forward-looking statements concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘intend’’, ‘‘may’’, ‘‘plan’’, ‘‘objectives’’, ‘‘outlook’’, ‘‘probably’’, ‘‘project’’, ‘‘will’’, ‘‘seek’’, ‘‘target’’, ‘‘risks’’, ‘‘goals’’, ‘‘should’’ and similar terms and phrases. There are a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this presentation, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for the Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserve estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments including potential litigation and regulatory measures as a result of climate changes; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; and (m) changes in trading conditions. All forward-looking statements contained in this presentation are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional factors that may affect future results are contained in Royal Dutch Shell’s 20-F for the year ended 31 December, 2009 (available at www.shell.com/investor and www.sec.gov ). These factors also should be considered by the reader. Each forward-looking statement speaks only as of the date of this presentation, 23 September 2010. Neither Royal Dutch Shell nor any of its subsidiaries undertake any obligation to publicly update or revise any forwardlooking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this presentation. There can be no assurance that dividend payments will match or exceed those set out in this presentation in the future, or that they will be made at all. The United States Securities and Exchange Commission (SEC) permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this presentation that SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov. You can also obtain these forms from the SEC by calling 1-800-SEC-0330.

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Copyright of Royal Dutch Shell plc

23/09/2010

FINANCIAL PERFORMANCE AND PRIORITIES EARNINGS $ Bln 35 30 25 20 PRIORITIES COMPETITIVE PERFORMANCE PROFITABLE GROWTH 15 10 5 0 -5 2005 2006 2007 2008 2009 H1 2010 SHARPER DELIVERY UPSTREAM DOWNSTREAM CORPORATE DIVESTMENTS/OTHER CURRENT COST OF SUPPLY REPORTED EARNINGS 3 Copyright of Royal Dutch Shell plc 23/09/2010 .

OIL & REFINING OUTLOOK CRUDE OIL SUPPLY Global oil production million boe/d 120 80 40 0 1990 SOURCE: IEA Currently producing fields 2000 2007 Crude oil to be developed or found Unconventional oil NGLs Robust oil demand expected for medium term Natural field decline drives sustained industry upstream investment Oil expected to trade in $50-$90/bbl range 2020 2030 REFINING CAPACITY Million bbl/d 15 10 5 0 2000 2002 2004 SPARE REFINING CAPACITY SOURCE: SHELL ANALYSIS $/bbl 8 6 4 2 0 2006 2008 2010 E GLOBAL REFINING MARGINS (RHS) Refining industry excess capacity 4 Copyright of Royal Dutch Shell plc 23/09/2010 .

HSSE & SUSTAINABLE DEVELOPMENT PRIORITY STRENGTHENING DELIVERY & ACCOUNTABILITY FOCUS ON SAFETY: GOAL ZERO Injuries .TRCF per million working hours 4 Project profitability 3 2 1 Environment Technology Safety '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 Employees and contractors per million working hours. Shell operated facilities OPERATIONAL SPILLS Operational Spills – thousand tonnes 10 8 6 Social PARTNERSHIPS 4 2 0 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 Data 100% basis for companies and joint ventures where we are the operator 5 Copyright of Royal Dutch Shell plc 23/09/2010 .

STRATEGY TIMELINE MATURING NEXT GENERATION PROJECT OPTIONS NEW WAVE OF PRODUCTION GROWTH PERFORMANCE FOCUS 2009 2012 2015+ 6 Copyright of Royal Dutch Shell plc 23/09/2010 .

MAINTAINING GROWTH INVESTMENT IN DOWN-CYCLE PRUDENT BALANCE SHEET Gearing GROWTH RETURNS $ Bln 200 % 40 30 20 10 0 2005 2006 2007 2008 ROACE IN SERVICE TOTAL 2009 H1 2010 30% Gearing range 20% 10% 0% Q205 Q206 Q207 Q208 Q209 Q210 150 100 50 0 CAPITAL EMPLOYED IN SERVICE OTHER MAINTAINING PRUDENT BALANCE SHEET FINANCIAL GROWTH • 0-30% gearing range • Net capital investment 2010: $33 billion 2011-14: $25-27 billion • Selective acquisitions • $7-8 billion asset sales 2010-11 7 Copyright of Royal Dutch Shell plc 23/09/2010 • 2009-12 cashflow from operations +50% at $60 bbl scenario +80% at $80 bbl scenario • Reduced costs + growth • Surplus cashflow 2012 > $60 bbl after dividends .

ROYAL DUTCH SHELL PLC PERFORMANCE FOCUS 8 Copyright of Royal Dutch Shell plc 23/09/2010 .

000 staff reduction E&P UPSTREAM INTERNATIONAL UPSTREAM AMERICAS OIL SANDS GAS & POWER DELIVERING COST SAVINGS $ BLN 50 COST SAVINGS OIL PRODUCTS DOWNSTREAM CHEMICALS PROJECTS & TECHNOLOGY 45 40 35 FX PENSIONS PROVISIONS • FASTER DECISIONS AND IMPLEMENTATION • CLEAR ACCOUNTABILITIES • COMPETITIVE FOCUS 30 2008 Q2 2010 4 QUARTERS ROLLING 9 Copyright of Royal Dutch Shell plc 23/09/2010 .5 billion underlying cost savings • 7. ……new top level structure 1st July 2009 • >$3.GROUP RESTRUCTURING COMPLETED DELIVERY & EXCEEDING OUR TARGETS • Transition 2009 MATURING NEXT GENERATION PROJECT OPTIONS NEW WAVE OF PRODUCTION GROWTH PERFORMANCE FOCUS Previous structure…….

CONTINUOUS IMPROVEMENT: CAPTIAL EFFICIENCY ASSET SALES TRACK RECORD CUMULATIVE DIVESTMENT PROCEEDS $ BLN MATURING NEXT GENERATION PROJECT OPTIONS NEW WAVE OF PRODUCTION GROWTH PERFORMANCE FOCUS DIVESTMENTS 2010 40 CORPORATE UPSTREAM DOWNSTREAM $7-8 BILLION DIVESTMENTS 2010-11 30 20 10 0 05 06 07 08 09 10-11E DOWNSTREAM UPSTREAM ON STREAM • EXIT FROM NON-CORE POSITIONS • CAPITAL EFFICIENCY • PORTFOLIO ENHANCEMENT 10 Copyright of Royal Dutch Shell plc 23/09/2010 .

ROYAL DUTCH SHELL PLC GROWTH DELIVERY 11 Copyright of Royal Dutch Shell plc 23/09/2010 .

NEW WAVE OF PRODUCTION GROWTH RESOURCE BASE KEY POST-FID PROJECTS MATURING NEXT GENERATION OF PROJECT OPTIONS NEW WAVE OF PRODUCTION GROWTH PERFORMANCE FOCUS Longer-term upside Gjoa 30 AOSP-1 Corrib Sakhalin II CONCEPT SELECTION DESIGN 20 NA Tight gas Perdido 10 UNDER CONSTRUCTION • ~11 billion Boe resources • 12 start-ups 2010-11 • 5 already on stream Kashagan Ph 1 Port Schoonebeek Arthur Iraq SAS Pearl GTL Qatargas 4 Caesar Tonga Singapore Chemicals Gbaran Harweel Gumusut Ubie Ph 1 Qarn Alam Bonga NW Amal Steam North Rankin B BC-10 Gorgon Pluto T1-3 (Woodside) 0 ON ON STREAM STREAM DOWNSTREAM OIL & GAS INTEGRATED GAS ON STREAM START-UP DATE 2009 2010-11 2012+ 12 Copyright of Royal Dutch Shell plc 23/09/2010 .

$ Bln (Shell) 2.3 2 1 0.5 2000 2000 Base project start up Expansion 1 start up MATURING NEXT GENERATION PROJECT OPTIONS NEW WAVE OF PRODUCTION GROWTH PERFORMANCE FOCUS AOSP PHASE 1 EXPANSION Kbbl/d 200 100 JACKPINE MINE ON STREAM H2 2010 UPGRADER EXPANSION 2011 2002 2004 2006 2008 2010 2012 2014 2002 2004 2006 2008 2010 2012 2014 CASH FROM OPERATIONS CAPITAL INVESTMENT PRODUCTION (RHS) FORECAST AT $ 70/BBL OIL PRICE AOSP-1 mine expansion on stream Upgrader expansion start-up 2011 ~250.START-UP OF OIL SANDS EXPANSION PRODUCTION AND PROFITABILITY AOSP net cash flows .000 b/d capacity built in ~10 years Next focus: Optimization + debottlenecking 13 Copyright of Royal Dutch Shell plc 23/09/2010 .0 0 0 -1 -2 -0.5 0.3 -2.

$ Bln 6 PEARL 3 0 -3 CASH FLOW -6 2005 2010 2015 PRODUCTION (RHS) 2020 2025 2030 Production – Kboe/d 600 400 200 0 -200 -400 -600 LNG LIQUEFACTION GTL $ 70/bbl oil price 14 Copyright of Royal Dutch Shell plc 23/09/2010 .QATAR: NEW HEARTLAND FOR SHELL SHELL POSITIONS IN QATAR MATURING NEXT GENERATION PROJECT OPTIONS NEW WAVE OF PRODUCTION GROWTH PERFORMANCE FOCUS PROJECTS UNDER CONSTRUCTION QatarGas 3/4 Pearl GTL RAS LAFFAN • Pearl GTL + Qatargas 4 LNG • ~3 bcf/d offshore gas development • Significant onshore infrastructure • GTL • LNG • NGLs/Ethane PRODUCTION & PROFITABILITY Shell Qatar cash flow (Pearl + Qatargas 4) .

PROFITABLE GROWTH OIL & GAS PRODUCTION GROWTH Kboe/d 4. WHI CH IS DEFINED AS THE 2010-11 + 201213 + 2014+ BARS FROM SLIDE 24 MARCH Courtesy of Qatargas 0 2009 2012 2009+ start ups: 2012 impact ENTITLEMENT SHOWN AT $70/BBL 15 Copyright of Royal Dutch Shell plc 23/09/2010 .000 2009 ENTITLEMENT: 2010 OIL & GAS 2012 2014 MATURING NEXT GENERATION PROJECT OPTIONS NEW WAVE OF PRODUCTION GROWTH PERFORMANCE FOCUS ADDING TO UPSTREAM UNIT CASH FLOWS $/Boe 40 $60/BBL $80/BBL 20 ADD A SECOND COLOUR: 2010+ START-UPS.000 1.000 2.000 3.

ROYAL DUTCH SHELL PLC MATURING NEXT GENERATION PROJECT OPTIONS 16 Copyright of Royal Dutch Shell plc 23/09/2010 .

000 km2 net acreage • Condensate rich shale SHELL/COSAN JV • 50/50.250 km2 net acreage • Marcellus shale EAGLE FORD • 1.000 km2 shale gas IRAQ MAJNOON OIL FIELD • DPSC signed • Targeting 175 kboe/d ~ 2012 • Shell 45% ARROW ENERGY • PetroChina and Shell joint bid • 7-8 mtpa CBM-LNG potential EAST RESOURCES • 4.MATURING NEXT GENERATION OF PROJECT OPTIONS STRENGTHENING PORTFOLIO OF NEW OPTIONS NEW WAVE OF PRODUCTION GROWTH PERFORMANCE FOCUS CHINA TIGHT GAS • Jinqiu PSC: 4.000 km2 tight gas • Fushun JAA: 4. ~4500 Retail Stations • Biofuels in Brazil • Shell 2nd generation biofuels tech 2010 DEALS 2010 DISCOVERIES 17 Copyright of Royal Dutch Shell plc 23/09/2010 .

Australia UNDER CONSTRUCTION 10 ~9 billion Boe ON STREAM 0 3.UPSTREAM: INVESTING FOR GROWTH + PROFITABILITY Longer-term upside Investment decisions driven by Portfolio fit Affordability Profitability 30 CONCEPT SELECTION DESIGN 20 > 8 billion Boe ~ 35 new projects Growth potential to 2020 ~11 billion Boe 2009-12 production +11% 2009-15 LNG capacity +40% Prelude .1 mboe/d 18.5 mtpa LNG capacity ~25 countries 2009 18 Copyright of Royal Dutch Shell plc 23/09/2010 .

BIOFUELS: SHELL AND COSAN SHELL COSAN JV (50/50) Retail and aviation World’s largest biofuels distributor Advanced biofuels technology: IOGEN and Codexis Leading position in Brazil fuel distribution: ~4.500 stations Fully integrated leader in the biofuel sector Growth potential in sustainable biofuels Advanced biofuels technology in Brazil and USA/Canada ~1.600 retail stations in Brazil Leading producer of sugar and sugarcane ethanol (~2 billion litres) 21 plants and 2 under construction Automated sugarcane harvesting 19 Copyright of Royal Dutch Shell plc 23/09/2010 .

SUMMARY MATURING NEXT GENERATION OF PROJECT OPTIONS • Upstream growth potential to ~2020 • 8 billion Boe resources. LNG ~20% • Cashflow growth: +50-80% PERFORMANCE FOCUS • Continuous improvement + capital efficiency • $7-8 billion asset sales 2010-11 • Downstream restructuring Competitive performance – Profitable growth – Sharper delivery 20 Copyright of Royal Dutch Shell plc 23/09/2010 . 35 new projects • Financial growth in focus NEW WAVE OF PRODUCTION GROWTH • 2009-12: • Oil & gas growth +11%.

ROYAL DUTCH SHELL PLC Q&A 21 Copyright of Royal Dutch Shell plc 23/09/2010 .

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