Downstream overview

Divestments

  • In the Kingdom of Saudi Arabia, we completed the sale of our 50% interest in Shell Saudi Arabia (Refining) Limited (SASREF), a joint venture in Jubail Industrial City, to Saudi Arabian Oil Company (Saudi Aramco) for $631 million.
  • In the USA, our subsidiary Equilon Enterprises LLC, doing business as Shell Oil Products US, announced in June 2019 that we reached an agreement for the sale of Martinez Refinery in California to PBF Holding Company LLC for a $1.0 billion consideration. The sale was concluded in February 2020 in exchange for $1.2 billion which includes the refinery and inventory.
  • Also in the USA, in March 2020, we announced our intention to sell the Puget Sound refinery in Washington and the Mobile site in Alabama.
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Downstream key statistics

 

2019

2018

2017

2016

2015

CCS earnings ($ million), of which:

6,277

7,601

8,258

6,588

10,243

Oil Products

5,798

5,717

5,576

4,940

8,654

Chemicals

479

1,884

2,682

1,648

1,589

CCS earnings excluding identified items ($ million)

6,680

7,567

9,082

7,243

9,748

Cash flow from operating activities ($ million)

7,296

13,928

12,429

3,556

14,076

Oil Products sales volumes (thousand b/d)

6,561

6,783

6,599

6,483

6,432

Chemicals sales volumes (thousand tonnes)

15,223

17,644

18,239

17,292

17,148

Refinery processing intake (thousand b/d)

2,564

2,648

2,572

2,701

2,805

Refinery availability (%)

91

91

91

90

90

Chemical plant availability (%)

89

93

92

90

85

Cash capital expenditure ($ million)

8,926

7,408

6,090

5,925

5,117

Capital employed ($ million)

70,859

56,633

56,431

52,672

46,280

Employees (thousands) [A]

36[A]

39[A][B]

42[A][B]

46[A]

43

[A]

Excludes employees seconded to joint ventures and associates.

[B]

As revised.

Downstream CCS earnings and ROACE [A]

$ billion

%

Downstream CCS earnings and ROACE for Marketing, Refining & trading and Chemicals (in $ billion); ROACE (RHS) (in %) – development from 2015 to 2019 (bar and line chart)

[A] Earnings and ROACE on CCS basis excluding identified items.

Downstream cash capital expenditure

$ billion

Downstream capital investment for Non-growth and Growth (in $ billion) – development from 2015 to 2019 (bar chart)
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