On the move?: Shell faces questions over its future
Shell will this week face questions from investors over its future on London’s stock market amid fears it could switch its listing to New York.
Chief executive Wael Sawan sparked speculation earlier this year when he said the FTSE 100 giant was looking at ‘all options’ as London was an ‘undervalued location’.
While no decision is imminent, he will face questions when Shell reports its figures on Thursday.
Shell and BP are valued lower than US competitors ExxonMobil and Chevron, which have doubled down on oil and gas production.
Sawan is hoping his strategy, including share buybacks to reward investors, will bridge the valuation gap.
A Shell spokesman said: ‘A change of listing is something we will always keep under review, but this is not a live discussion.’
Analysts at Jefferies expect Shell to post a 14 per cent decline in net income for the third quarter, versus the same period last year, coming in at £4.1billion.
Meanwhile, BP is expected to report a 30 per cent drop in net income to £1.7billion.
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