On the way?: Shell is confronted with questions about its future
Shell is facing questions from investors this week about its future on the London stock market amid fears it could move its listing to New York.
CEO 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”.
Although no decision is imminent, he will face questions when Shell publishes its figures on Thursday.
Shell and BP are valued lower than American competitors ExxonMobil and Chevron, which have doubled their oil and gas production.
Sawan hopes his strategy, including share buybacks to reward investors, will bridge the valuation gap.
A Shell spokesperson said: ‘A change in listing is something we will always monitor, but this is not a live discussion.’
Analysts at Jefferies expect Shell to post a 14 percent decline in net profit in the third quarter compared to the same period last year, reaching £4.1 billion.
Meanwhile, BP is expected to report a 30 percent drop in net profit to £1.7 billion.
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