schreef:
Shell Group
CFFO
Tax paid is expected to be between $3.3 and $3.7 billion.As of the end of May, CFFO was impacted by working capital outflows of around $6 billion.
Prevailing volatility could lead to material additional movements in CFFO in June from price impacts on inventory, changes in inventory volumes, margining effects on derivatives and movements in accounts payable and receivables balances. Share Buybacks
The share buyback programme of $8.5 billion announced for the first half of 2022 was completed on July 05, 2022.
Revised commodity price outlook and impairment impacts
In the second quarter 2022, Shell has revised its mid and long-term Oil and Gas commodity prices reflecting the current macroeconomic environment as well as updated energy market demand and supply fundamentals. This resulted in a review of Shell’s Upstream and Integrated Gas previously impaired assets.The following Brent outlook has been assumed for impairment reversal testing: $80/bbl (2023), $70/bbl (2024), $70/bbl (2025) and long-term $65 (real terms 2022).Aggregate post-tax impairment reversals in the range of $3.5 to $4.5 billion of previously impaired assets are expected in the second quarter, primarily due to changes in commodity price outlook.Impairment reversals are reported as identified items and have no cash impact.