That is a big promise from the group which has traditionally been more dependent on higher oil prices than many of its peers. Shell has underperformed in recent years (up only 13.5% versus 22.5% at BP over two years) as BP began its transformation much earlier and has been able to grow its dividend despite lower oil prices. Speaking at a strategy meeting this week, Shell's management made a convincing case that it can do what it takes to turn its business around, prompting Soc Gen analysts to lift their price target to £22.30 and even the less optimistic UBS team lifted its target to £19. With analysts pretty evenly split between those advising investors to buy the shares and those who remain more cautious, the key now is whether Voser and his team can deliver on these ambitious plans. 'The underlying story for Royal Dutch Shell from 2012 is compelling,' said Richard Griffith analyst at Evolution Securities. 
Share:  That is a big promise from the group which has traditionally been more dependent on higher oil prices than many of its peers. <span class="company">Shell</span> has underperformed in recent years (up only 13.5% versus 22.5% at BP over two years) as BP began its transformation much earlier and has been able to grow its dividend despite lower oil prices. Speaking at a strategy meeting this week, <span class="company">Shell</span>'s management made a convincing case that it can do what it takes to turn its business around, prompting Soc Gen analysts to lift their price target to £22.30 and even the less optimistic UBS team lifted its target to £19. With analysts pretty evenly split between those advising investors to buy the shares and those who remain more cautious, the key now is whether Voser and his team can deliver on these ambitious plans.<span class="sent"> 'The underlying story for Royal Dutch <span class="company">Shell</span> from 2012 is compelling,' said <span class="analyst">Richard Griffith</span> analyst at Evolution Securities.</span>...That is a big promise from the group which has traditionally been more dependent on higher oil prices than many of its peers. <span class="company">Shell</span> has underperformed in recent years (up only 13.5% versus 22.5% at BP over two years) as BP began its transformation much earlier and has been able to grow its dividend despite lower oil prices. Speaking at a strategy meeting Tweet this 

Syme said he doesn't think Shell is mis priced based on its own profitability outlook and doesn't see any reason why investors should take the risk on a business that has: . Haskins believes Shell is being overly optimistic about the outlook for refining margins and that a mistake here could see the cashflow come in below Shell's guidance. But even she is lifting her price target to £20.50 to reflect the higher cash generation forecasts. And the top rated analysts , based on the accuracy of their forecasts  at Citigroup and Goldman Sachs are much more upbeat. Both Mark A Fletcher and Michele della Vigna have 'buy' views on the shares. 
Share:  Syme said he doesn't think <span class="company">Shell</span> is mis priced based on its own profitability outlook and doesn't see any reason why investors should take the risk on a business that has: . Haskins believes <span class="company">Shell</span> is being overly optimistic about the outlook for refining margins and that a mistake here could see the cashflow come in below <span class="company">Shell</span>'s guidance. But even she is lifting her price target to £20.50 to reflect the higher cash generation forecasts.<span class="sent"> And the top rated analysts , based on the accuracy of their forecasts  at Citigroup and Goldman Sachs are much more upbeat. Both Mark A Fletcher and <span class="analyst">Michele della Vigna</span> have 'buy' views on the shares.</span> Tweet this 

Shell plans to invest $25 billion $30 billion annually for 2011 14, funded in part by as much as $3 billion per year of asset sales. Cost cutting continues, with plans to carve another $1 billion in cost savings in 2011 and cut 2,000 staff positions by year end 2011. Shell expects excess cash flow to grow significantly after 2012, when it completes major projects including Qatar gas to liquid and liquefied natural gas facilities and oil sands expansion in Canada. 
Share:  <span class="company">Shell</span> plans to invest $25 billion $30 billion annually for 2011 14, funded in part by as much as $3 billion per year of asset sales. Cost cutting continues, with plans to carve another $1 billion in cost savings in 2011 and cut 2,000 staff positions by year end 2011. <span class="company">Shell</span> expects excess cash flow to grow significantly after 2012, when it completes major projects including Qatar gas to liquid and liquefied natural gas facilities and oil sands expansion in Canada. Tweet this 

At its annual strategy update, energy major Royal Dutch Shell PLC ( ) unveiled its business policy. In particular, the company outlined plans to increase production by 11% by 2012 and at the same time cut costs by selling some of its refining and retail assets and reducing more headcount. According to the company, these initiatives are expected to improve the organization's efficiency and sharply boost cash flow from operations. 
Share:  At its annual strategy update, energy major <span class="company">Royal Dutch Shell PLC</span> ( ) unveiled its business policy. In particular, the company outlined plans to increase production by 11% by 2012 and at the same time cut costs by selling some of its refining and retail assets and reducing more headcount. According to the company, these initiatives are expected to improve the organization's efficiency and sharply boost cash flow from operations. Tweet this 

Sites no longer operated directly would follow a model that Shell has pioneered in America, where its retail sites retain the Shell brand and are supplied wholesale by the company but are operated by third parties. Shell is selling fuel stations in Spain and Portugal. In France, it will leave many of its smaller, regional stations but plans to retain its more profitable, high volume motorway network. Britain, where Shell operates about 900 fuel stations and is the biggest player by volume in the retail market, is not expected to bear the brunt of the sales. Richard Savage, of Mirabaud Securities, said that the move reflected an effort "to release capital to spend more on production". 
Share:  Sites no longer operated directly would follow a model that <span class="company">Shell</span> has pioneered in America, where its retail sites retain the <span class="company">Shell</span> brand and are supplied wholesale by the company but are operated by third parties. <span class="company">Shell</span> is selling fuel stations in Spain and Portugal. In France, it will leave many of its smaller, regional stations but plans to retain its more profitable, high volume motorway network. Britain, where <span class="company">Shell</span> operates about 900 fuel stations and is the biggest player by volume in the retail market, is not expected to bear the brunt of the sales.<span class="sent"> <span class="analyst">Richard Savage</span>, of Mirabaud Securities, said that the move reflected an effort "to release capital to spend more on production".</span>...In France, it will leave many of its smaller, regional stations but plans to retain its more profitable, high volume motorway network. Britain, where <span class="company">Shell</span> operates about 900 fuel stations and is the biggest player by volume in the retail market, is not expected to bear the brunt of the sales.<span class="sent"> <span class="analyst">Richard Savage</span>, of Mirabaud Securities, said that the move reflected an effort "to release capital to spend more on production".</span> The announcement came as Mr Voser said that <span class="company">Shell</span> expected to boost crude oil production by 11 per cent to 3.5 Tweet this 

But we have seeded plenty of projects in other parts of the world where we also can achieve growth.' Hardly a ringing endorsement of the country's prospects. Some analysts, such as Collins Stewart's Gordon Grey, see Voser's latest strategy pronouncement as 'an important turning point operationally' for Shell. The respected and experienced Richard Griffith of Evolution has been following the company for far too long to be totally convinced: 'It's a positive statement, but there is still plenty to be delivered.' Other stories: Shell targets Australian gas reserves . 
Share:  But we have seeded plenty of projects in other parts of the world where we also can achieve growth.' Hardly a ringing endorsement of the country's prospects. Some analysts, such as Collins Stewart's Gordon Grey, see Voser's latest strategy pronouncement as 'an important turning point operationally' for <span class="company">Shell</span>.<span class="sent"> The respected and experienced <span class="analyst">Richard Griffith</span> of Evolution has been following the company for far too long to be totally convinced: 'It's a positive statement, but there is still plenty to be delivered.' Other stories: <span class="company">Shell</span> targets Australian gas reserves .</span>...But we have seeded plenty of projects in other parts of the world where we also can achieve growth.' Hardly a ringing endorsement of the country's prospects. Some analysts, such as Collins Stewart's Gordon Grey, see Voser's latest strategy pronouncement as 'an important turning point operationally' for <span class="company">Shell</span>.<span class="sent"> The respected and experienced <span class="analyst">Richard Griffith</span> of Evolution has been following the company for far too long to be totally convinced: 'It's a positive statement, but there is still plenty to be delivered.' Other stories: <span class="company">Shell</span> targets Australian gas reserves .</span>...<span class="sent">The respected and experienced <span class="analyst">Richard Griffith</span> of Evolution has been following the company for far to Tweet this 

Sites no longer operated directly would follow a model that Shell has pioneered in America, where its retail sites retain the Shell brand and are supplied wholesale by the company but are operated by third parties. Shell is selling fuel stations in Spain and Portugal. In France, it will leave many of its smaller, regional stations but plans to retain its more profitable, high volume motorway network. Britain, where Shell operates about 900 fuel stations and is the biggest player by volume in the retail market, is not expected to bear the brunt of the sales. Richard Savage, of Mirabaud Securities, said that the move reflected an effort "to release capital to spend more on production". 
Share:  Sites no longer operated directly would follow a model that <span class="company">Shell</span> has pioneered in America, where its retail sites retain the <span class="company">Shell</span> brand and are supplied wholesale by the company but are operated by third parties. <span class="company">Shell</span> is selling fuel stations in Spain and Portugal. In France, it will leave many of its smaller, regional stations but plans to retain its more profitable, high volume motorway network. Britain, where <span class="company">Shell</span> operates about 900 fuel stations and is the biggest player by volume in the retail market, is not expected to bear the brunt of the sales.<span class="sent"> <span class="analyst">Richard Savage</span>, of Mirabaud Securities, said that the move reflected an effort "to release capital to spend more on production".</span>...In France, it will leave many of its smaller, regional stations but plans to retain its more profitable, high volume motorway network. Britain, where <span class="company">Shell</span> operates about 900 fuel stations and is the biggest player by volume in the retail market, is not expected to bear the brunt of the sales.<span class="sent"> <span class="analyst">Richard Savage</span>, of Mirabaud Securities, said that the move reflected an effort "to release capital to spend more on production".</span> The announcement came as Mr Voser said that Tweet this 

The CEO is seeking to boost output with projects in Qatar, Malaysia and Brazil. Shell has earmarked net capital spending of $28 billion for 2010 and will spend $25 billion to $27 billion a year from 2011 until 2014. It replaced 288 percent of its production with new discoveries in 2009."The company is at an important turning point operationally, with both exploration and production volumes and free cash flow set to improve significantly on a 2 to 3 year view," Gordon Gray , a London based analyst at Collins Stewart Plc, said in a note. He has a "buy" rating on the stock. 
Share:  The CEO is seeking to boost output with projects in Qatar, Malaysia and Brazil. <span class="company">Shell</span> has earmarked net capital spending of $28 billion for 2010 and will spend $25 billion to $27 billion a year from 2011 until 2014.<span class="sent"> It replaced 288 percent of its production with new discoveries in 2009."The company is at an important turning point operationally, with both exploration and production volumes and free cash flow set to improve significantly on a 2 to 3 year view," <span class="analyst">Gordon Gray</span> , a London based analyst at Collins Stewart Plc, said in a note.</span> He has a "buy" rating on the stock. Tweet this 

As new projects come onstream, the company expects cash flow from operations to increase by around 50% from 2009 to 2012 in a $60 a barrel oil price world, and by over 80% with $80/bbl oil prices. "We are moving into a delivery window across the next five years, and beyond that, we have a tremendous opportunity set for the 2015 2020 time frame," Shell's Chief Executive Peter Voser said in a statement. Shell expects net capital investment of between $25 billion to $27 billion annually in 2011 2014, with up to $3 billion of asset sales annually and $25 $30 billion of organic investment annually. Oil analyst Jason Kenney of ING Group said the company's share price may rise due to the medium term growth outlook. "On a medium term basis, the headlines look positive 
Share:  As new projects come onstream, the company expects cash flow from operations to increase by around 50% from 2009 to 2012 in a $60 a barrel oil price world, and by over 80% with $80/bbl oil prices. "We are moving into a delivery window across the next five years, and beyond that, we have a tremendous opportunity set for the 2015 2020 time frame," <span class="company">Shell</span>'s Chief Executive Peter Voser said in a statement.<span class="sent"> <span class="company">Shell</span> expects net capital investment of between $25 billion to $27 billion annually in 2011 2014, with up to $3 billion of asset sales annually and $25 $30 billion of organic investment annually. Oil analyst <span class="analyst">Jason Kenney</span> of ING Group said the company's share price may rise due to the medium term growth outlook.</span> "On a medium term basis, the headlines look positive....As new projects come onstream, the company expects cash flow from operations to increase by around 50% from 2009 to 2012 in a $60 a barrel oil price world, and by over 80% with $80/bbl oil prices. "We are moving into a delivery window across the next five years, and beyond that, we have a tremendous opportunity set for the 2015 2020 time frame," <span class="company">Shell</span>'s Chief Executive Peter Voser said in a statement.<span class="sent"> <span class="company">Shell</span> e Tweet this 

Panmure Gordon analyst Peter Hitchens said: "If you look at the way Shell is positioned, it is really losing ground. 
Share:  <span class="sent">Panmure Gordon analyst <span class="analyst">Peter Hitchens</span> said: "If you look at the way <span class="company">Shell</span> is positioned, it is really losing ground.</span> Tweet this