Shell’s 2010 oil and natural gas production volumes were 3.3 million boepd, an increase of 5%, LNG sales volumes increased by 25%, with continued growth in Downstream. The company’s fourth quarter and full year 2010 earnings were supported by higher oil prices and chemicals margins.
Key highlights in 2010:
- Oil and natural gas production volumes were 3.3 million boepd, an increase of 5% from 2009.
Production in the fourth quarter increased by some 160 kboepd (170 kboepd for the full year 2010) from new field start-ups and the continuing ramp-up of fields, more than offsetting the impact of field declines
-Disposals of $7 billion of non-core assets in 2010, meeting 2010-11 asset sales targets ahead of schedule.
- $7 billion of acquisitions
- $3 billion in exploration activities and 8 new discoveries