Shell

What Shell does

Shell plc (NYSE: SHEL, LSE: SHEL) is a globally integrated energy and petrochemicals company headquartered in London, with operations in more than 70 countries and approximately 85,000 employees. The company is organized across four primary segments — Upstream (oil and gas exploration and production, including deepwater), Integrated Gas (LNG liquefaction, gas-to-liquids conversion, and global gas trading), Downstream/Marketing/Chemicals (refining, fuels marketing, lubricants, aviation, marine, bitumen, petrochemicals), and Renewables and Energy Solutions (wind, solar, hydrogen, carbon capture, nature-based solutions, power trading). Its core technical capabilities include deepwater extraction, LNG liquefaction at scale (Pearl GTL in Qatar, LNG Canada), gas-to-liquids conversion, refining, and emerging battery immersion cooling and ester-based dielectric fluids for EVs and data centers.

The company's revenue model is overwhelmingly transaction-based across the energy value chain. Shell serves approximately 33 million retail consumers daily at Shell-branded stations worldwide and over 1 million commercial and industrial customers across transport, mining, manufacturing, power generation, agriculture and home energy, with B2B pricing negotiated through multi-year contracts and retail pricing set by local market conditions. Distribution channels include direct retail forecourts, enterprise field sales, aviation and marine refueling networks, brand licensing (against a $51.8 billion brand value per Brand Finance 2025), and one of the world's largest LNG carrier and oil tanker fleets operated through Shell Trading and Supply. Recent strategic actions demonstrate a deliberate portfolio pivot: the $16.4 billion acquisition of Canadian Montney producer ARC Resources (announced April 2026) raises production CAGR from 1% to 4% through 2030, while the $1.3 billion sale of Jiffy Lube, $1 billion sale of South African downstream operations, and $1.7 billion sale of the Na Kika platform stake redeploy capital toward integrated gas, LNG, lubricants adjacencies (MIDEL/MIVOLT), EV charging (Shell Recharge, evpass), and lower-carbon solutions, all framed by a 2050 net-zero ambition.

Name

Shell

Legal name

Shell plc

Website

https://shell.com

Company type

Public

Founded year

1907

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Shell plc is a London-headquartered global integrated energy company serving ~33 million daily retail consumers and 1M+ commercial customers across 70+ countries through upstream oil and gas, LNG, refining, lubricants, marketing, renewables, and one of the world's largest energy trading books.

Ownership category

akta.pro rank

Product category

Integrated Oil and Gas

NAICS

Petroleum Refineries (32411), Petroleum Bulk Stations and Terminals (424710), Petroleum and Coal Products Manufacturing (324), Petrochemical Manufacturing (32511)

SIC

Petroleum Refining (2911), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172), Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Branded Fuels Wholesaling & Jobber Distribution (EUALAIAB)

akta.pro secondary industries

Unbranded/Spot Fuels Distribution (Rack Sales) (EUALAIAC), CNG/LNG Refueling for Industrial Fleets (Private Stations, Yard Fueling) (EUALALAK), Fuel Cell CHP (SOFC/PEM—Natural Gas/Biogas/Hydrogen) (EUACAKAG), Carbon Auctions & Tender Management (Buyer/Seller Programs, RFPs) (EUABADAH)

Keywords

• Integrated oil and gas
• Petroleum refining products
• LNG and natural gas
• Industrial lubricants supply
• Renewable energy solutions

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Upstream: Exploration and extraction of crude oil, natural gas and natural gas liquids. Shell has deep water and conventional oil and gas operations globally, including activities in Brazil, Nigeria, US Gulf of Mexico, and other regions.
2. Integrated Gas: Exploration and extraction of natural gas processed into LNG or converted into GTL products. Includes operation of upstream and midstream infrastructure, plus trading, optimization, marketing and distribution of LNG, GTL and natural gas.
3. Marketing (Downstream): Supply of fuels and lubricants for transport, manufacturing, mining, power generation, agriculture and construction. Includes Shell Mobility retail network, EV charging, convenience retail, and biofuels blending.
4. Chemicals and Products: Manufacturing plants and refineries turning crude oil and other feedstocks into products for households, industry and transport. Includes pipeline business, trading and optimization of crude oil, oil products and petrochemicals, and oil sands activities.
5. Renewables and Energy Solutions: Generation, marketing and trading of power from wind, solar and pipeline gas. Includes hydrogen production and marketing, commercial carbon capture and storage hubs, carbon credits and nature-based solutions.
6. Trading and Supply: Trading of natural gas, electrical power, crude oil, refined products, chemical feedstocks and environmental products. Shell manages one of the world's largest fleets of LNG carriers and oil tankers.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels8 records

Core offering

Shell is a global integrated energy company that explores, produces, refines and markets oil, natural gas, LNG, GTL products, lubricants, bitumen, petrochemicals, and renewables. It operates one of the world's largest LNG fleets, an extensive retail fuel station network, and a global trading and supply business serving more than 1 million commercial and industrial customers plus approximately 33 million daily retail customers. Its portfolio also includes low-carbon solutions such as hydrogen, carbon capture and storage, EV charging, and nature-based solutions.

Product overview

Shell is a global integrated energy company organized into four main business segments: Upstream (oil and gas exploration and production), Integrated Gas (LNG and GTL products), Downstream, Renewables and Energy Solutions (Marketing, Chemicals, Products, and Renewables), and Trading and Supply. The company operates retail fuel stations serving 33 million customers daily, offers lubricants (Shell Lubricants including acquired MIDEL/MIVOLT brands), aviation and marine fuels, bitumen, commercial fuels, energy management services, hydrogen, renewables, and carbon capture solutions. Shell's portfolio includes proprietary technology offerings such as Shell GTL Fluids, Shell Catalysts & Technologies, and digital platforms like Shell MarketHub. Recent strategic actions include the acquisition of Canadian producer ARC Resources (2026) and divestment of downstream assets including Jiffy Lube and South African fuel stations.

Differentiator

Problem solved

Functional benefit

Brands

• Shell V-Power: Premium fuel brand for vehicles
• Shell Eco-marathon
• Shell Recharge
• Triple 10 Challenge
• Shell Brand Licensing
• Shell GTL Fluids
• Shell MarketHub

Products and services

• Shell Mobility
• Shell Lubricants

Quantifiable outcome

• Shell aims to sustain material liquids production of ~1.4 million barrels per day towards 2030
• +3 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Ten partnerships are on record, tiered major, core, flagship and minor.

• ADNOC DistributionmajorStrategic or Co-development Partner · 7 July 2026ADNOC Distribution agreed to acquire 100% of Shell Downstream South Africa for approximately $1 billion enterprise value. The deal includes 580 fuel stations and wholesale fuel, aviation, and lubricants operations. Upon completion, ADNOC Distribution will sell a 28% stake in SDSA to a local empowerment partner and employee stock option plan, while entering a long-term brand licensing agreement to retain the Shell brand.
• Talos EnergymajorStrategic or Co-development Partner · 7 July 2026Shell agreed to sell its 50% interest in the Na Kika platform and associated fields plus its 100% interest in the Coulomb tieback to Talos Energy and Ridgewood Energy for $1.7 billion, expected to close end of 2026.
• PV Gas (Vietnam)coreTechnology or Integration · 6 July 2026PV Gas, a subsidiary of Vietnam's state-owned Petrovietnam, signed a term LNG sale and purchase agreement with Shell Eastern Trading covering 2027-2031. This marks Vietnam's first-ever term LNG purchase and positions PV Gas as a reliable LNG importer sourcing competitively priced gas for Vietnamese users.
• ARC Resources Ltd. (Canada)flagshipStrategic or Co-development Partner · 1 July 2026Shell announced agreement to acquire ARC Resources Ltd., a Canadian energy company focused on the Montney shale basin. The $16.4 billion enterprise value deal makes Shell the third-largest natural gas producer in Canada and adds 370 kboe/d production. Expected to close H2 2026.
• Bharat Petroleum Corporation Limited (BPCL)coreStrategic or Co-development Partner · 29 June 2026BPCL acquired a 40% stake in Tiki Tar and Shell India Private Limited (TTSIPL), a joint venture between Tiki Tar Group and Shell Gas B.V., for Rs 85 crore. The partnership strengthens BPCL's Value-Added Bitumen business and captures growth in India's road infrastructure sector including Bharatmala Pariyojana highway program.
• M&I Materials Ltd. (UK)coreTechnology or Integration · 2 January 2024Shell Lubricants completed acquisition of MIDEL and MIVOLT from M&I Materials Ltd., expanding Shell's global lubricants portfolio with ester-based transformer fluids and cooling fluids for EV batteries and data centers.
• Impossible CloudminorStrategic or Co-development Partner · 3 March 2023Impossible Cloud received €7 million investment from venture capital firms including Protocol Labs to develop decentralized cloud storage based on web3 technology. Shell is mentioned as a potential technology partner in broader cloud storage solutions.
• evpass (Switzerland)coreChannel Partner/ Reseller/ Distributor · 28 February 2023Shell acquired evpass, the largest EV charging network in Switzerland, to expand its EV charging infrastructure. The deal enhances Shell's EV charging network in Switzerland with 3,000 charge points and coverage in a third of municipalities.
• Daystar Power GroupcoreStrategic or Co-development Partner · 28 September 2022Shell completed acquisition of Daystar Power Group, a solar power solutions provider focusing on West Africa. The deal positions Shell to expand its renewable energy capacity including 2.2 GW in operation and 40.9 GW potential capacity in pipeline.
• Savion LLC (US)coreStrategic or Co-development Partner · 17 December 2021Shell completed acquisition of Savion LLC, a US-based solar and energy storage developer, adding over 18 gigawatts of solar and storage projects to Shell's renewable energy portfolio. Supports Shell's shift toward net-zero emissions target by 2050.

Scale indicators11 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• ExxonMobil: The closest direct peer to Shell: a publicly traded integrated supermajor with comparable upstream, LNG, refining, chemicals, and branded retail operations across the same geographies. Both companies compete head-to-head in LNG, retail fuels, and lubricants.
• BP: London-listed integrated oil major with overlapping upstream, downstream, convenience retail, and energy transition strategies. BP is a direct Shell competitor in retail, LNG, offshore wind, and hydrogen.
• Chevron: US-based integrated oil major with global upstream, LNG, refining, and retail. Chevron competes with Shell in LNG offtake, lubricants, and convenience retail, and is pursuing a similar energy transition strategy.
• TotalEnergies: France-based integrated energy major with comparable portfolio breadth spanning oil and gas, LNG, refining, marketing, renewables, and electricity. Directly competes with Shell in European retail and African/LNG markets.
• Eni: Italy-based integrated oil and gas company with significant natural gas, LNG, refining, and renewables operations. Eni is a direct peer in European LNG procurement and Africa upstream.

Broad incumbents

• Equinor: Norway-based integrated energy company with strong upstream and LNG operations, plus growing renewables. Comparable to Shell's integrated gas and renewables segments though smaller in retail.
• Saudi Aramco: The world's largest integrated oil and gas company by production. Comparable to Shell in upstream and crude trading, though less diversified into retail and renewables.

Emerging players

• Repsol: Spain-based integrated energy company with upstream, refining, retail, and renewables. Smaller and more regionally focused than Shell, but directly comparable in Iberian retail and Latin American upstream.
• Phillips 66: US-based downstream and chemicals specialist that competes with Shell in petroleum refining, midstream logistics, and specialty products. Less upstream exposure but overlapping in petrochemicals and refined product marketing.

Regional players

• ADNOC Distribution: UAE-based fuel retail and bulk fuel distributor that acquired Shell Downstream South Africa for $1B. Comparable in retail station operations and is becoming a regional counterpart to Shell's downstream business in the Middle East and Africa.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries19 records

Funding overview

Funding rounds2 records

Investors2 records

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M&A20 records

Investments29 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shell