Shares in Shell opened 1.6% higher yesterday, while with the broader index opened 0.5% lower. “Shell was free cashflow positive by US$1bil in the quarter. Its reserve replacement ratio was 208% in 2016, meaning it more than doubled its reserves following the BG buy. Shell booked a US$763mil impairment charge in its integrated gas business, primarily due to the effect of a weakening Australian dollar on a deferred tax position. The impairment was partly offset by gains in the refining business, which brought the charge down to US$500mil.

Source: The Star February 03, 2017 00:11 UTC