How does Shell's revenue from renewables compare to traditional segments in 2024?

Shell's revenue from renewables is expected to be slightly lower than its traditional segments in 2024, but still show a positive performance. 1. **Renewables Revenue Overview**: Shell's revenue from renewables, although not explicitly broken down by specific segments like traditional oil and gas, is expected to contribute to the overall revenue figure. For instance, in Q2 2024, Shell's revenue was $74.46 billion, which included contributions from renewables. |code|Ticker|Name|Date|Business Composition|Revenue By Business|market_code| |---|---|---|---|---|---|---| |SHEL|SHEL.N|Shell|20240101-2024|Corporate|4.3E7|169| |SHEL|SHEL.N|Shell|20240101-2024|Corporate|3.3E7|169| |SHEL|SHEL.N|Shell|20240101-2024|Corporate|2.2E7|169| |SHEL|SHEL.N|Shell|20240101-2024|Corporate|1.1E7|169| |SHEL|SHEL.N|Shell|20240101-2024|Integrated Gas|9.195E9|169| |SHEL|SHEL.N|Shell|20240101-2024|Corporate|1.1E7|169| |SHEL|SHEL.N|Shell|20240101-2024|Upstream|1.759E9|169| |SHEL|SHEL.N|Shell|20240101-2024|Marketing|3.0041E10|169| |SHEL|SHEL.N|Shell|20240101-2024|Chemicals|2.3735E10|169| |SHEL|SHEL.N|Shell|20240101-2024|Renewables and Energy Solutions|7.737E9|169| 2. **Comparison with Traditional Segments**: Shell's traditional segments, such as Upstream, Integrated Gas, Marketing, and Refinery processing, have shown varying levels of performance. For example, in Q2 2024, Total production at Integrated Gas fell 1% Q/Q to 980 kboe/d, and Upstream declined 5% Q/Q at 1,783 kboe/d. However, sales volumes at Marketing rose to 2,868 thousand b/d from 2,763 thousand b/d the previous quarter. 3. **Growth and Outlook**: Shell has been actively investing in renewables, with a focus on biofuels, hydrogen, and electric vehicle charging. The company's FY24 Outlook indicates a continued emphasis on renewable growth. For example, Shell expects cash capital expenditure of $22 billion – $25 billion, which includes investments in renewable energy projects. 4. **Dividend and Buyback Program**: Shell's decision to increase its dividend by 4% and initiate a $3.5 billion buyback program reflects confidence in its financial stability, which is supported by its renewable energy contributions. In conclusion, while specific figures for Shell's revenue from renewables in 2024 are not available, it is clear that the company's renewable energy activities are growing and contributing to the overall revenue, with a trajectory that suggests a strong commitment to low-carbon investments.