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On the move?: Shell faces questions about its future
Shell will face questions from investors about its future on the London stock market this week amid fears it could move 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 there is no imminent decision, it will face questions when Shell reports its figures on Thursday.
Shell and BP are valued below US competitors ExxonMobil and Chevron, which have doubled their oil and gas production.
Sawan hopes his strategy, which includes buying back shares to reward investors, will close the valuation gap.
A Shell spokesperson said: “A quote change is something we will always keep under review, but this is not a live discussion.”
Jefferies analysts expect Shell to post a 14 per cent decline in net income for the third quarter, compared to the same period last year, reaching £4.1 billion.
Meanwhile, BP is expected to post a 30 per cent drop in net income to £1.7bn.
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