Market overview

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Shell realised pricesYear average

 

2019

2018

2017

2016

2015

 

SUBS

JV&A

SUBS

JV&A

SUBS

JV&A

SUBS

JV&A

SUBS

JV&A

Crude oil and natural gas liquids ($/b)

 

 

 

 

 

 

 

 

 

 

Europe

65.11

58.08

68.23

64.24

50.52

46.88

38.62

40.75

49.77

89.68

Asia

58.16

65.25

64.06

70.66

49.08

53.44

38.11

43.95

47.73

96.85

Oceania

51.51

–

61.63

–

45.64

–

36.64

33.76[B]

43.39

88.07

Africa

65.39

–

71.02

–

53.39

–

42.73

–

51.80

–

North America – USA

54.56

–

61.87

–

47.23

–

37.50

–

44.99

–

North America – Canada

36.61

–

43.72

–

36.00

–

25.76

–

25.45

–

South America

56.68

–

62.67

–

48.10

–

38.58

–

42.38

–

Total

57.56

65.05

63.96

70.43

49.00

53.23

38.60

43.58

47.52

95.87

Natural gas ($/thousand scf)

 

 

 

 

 

 

 

 

 

 

Europe

5.59

4.95

7.08[A]

4.06

5.48

4.77

4.75

4.19

7.10

8.26

Asia

2.66

6.34

2.99

7.06

2.84

5.45

2.32

4.63

3.02

11.50

Oceania

8.22

3.91

8.66[A]

4.15

6.21

3.11

5.31

4.33[B]

6.80

11.01

Africa

2.92

–

3.02

–

2.44

–

2.33

–

2.10

–

North America – USA

2.27

–

3.12

–

3.00

–

2.21

–

2.39

–

North America – Canada

1.37

–

1.35

–

1.85

–

1.71

–

2.29

–

South America

2.33

–

3.50

–

2.93[A]

–

1.83

–

2.46

–

Total

3.95

5.80

4.63[A]

5.74

3.90[A]

5.11

3.16

4.41

4.07

9.72

Other ($/b)

 

 

 

 

 

 

 

 

 

 

North America – Synthetic crude oil

50.27

–

48.90

–

45.90

–

37.61

–

40.87

–

North America – Bitumen

–

–

–

–

34.46

–

25.74

–

30.25

–

[A]

As revised, following a reassessment.

[B]

Included Shell’s 14% share of Woodside from January 2016 to April 2016. Woodside is a publicly listed company on the Australian Securities Exchange for which we have limited access to data; accordingly, the numbers are estimated. The accounting classification of Woodside was changed from an associate to an investment in securities in April 2016.

Oil marker industry prices

$/barrel

Oil marker industry prices (in $/barrel) for Brent, WTI, JCC, WCS – development from 2015 to 2019 (line chart)

[A] Based on available market information up to the end of the year.

Gas marker industry prices

$/MMBtu

Pence/therm

Gas marker industry prices (in $/barrel) for Henry Hub, JKM, NBP (RHS) – ($/MMBtu) – development from 2015 to 2019 (line chart)

[A] Based on available market information up to the end of the year.

Industry refining margins [A]

$/barrel

Industry refining margins (in $/barrel) for US West Coast, US Gulf Coast coking, Rotterdam complex and Singapore – development from 2015 to 2019 (bar chart)

[A] The refining and cracker industry margins do not represent actual Shell realised margins for the periods.

Industry chemicals margins [A]

$/tonne

Industry chemicals margins (in $/tonne) for US ethane, Western Europe naphtha, North-east/South-east Asia naphtha – development from 2015 to 2019 (bar chart)

[A] The refining and cracker industry margins do not represent actual Shell realised margins for the periods.

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