- Betting on oil companies is betting on the price of oil, and this is a thesis for higher oil prices long term.
- Management remain competent and have done the right thing by focusing on cash flow conservation during these uncertain times.
- Shell is continuing to look beyond oil, and into the shape of the energy sector decades down the line, and this has huge potential for long-term upside.
"The world has fundamentally changed" was the opening line of CEO Ben van Beurden this morning before he went on to "rebase" (read: cut) the Royal Dutch Shell (RDS.A) dividend from $0.47 to $0.16 cents per share, a 66% reduction. This led to stock price declines of circa 7% on the announcement and falling further since, for those interested my own purchase price is £11.99 per share of (RDS.B) for my personal portfolio on the 1st of May.
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