Royal Dutch Shell plc

Shell Management Day 2014: Balancing Growth and Returns
THE HAGUE, March 13, 2014/PRNewswire-FirstCall/ --
Shell's (NYSE:RDS.A) (NYSE:RDS.B) CEO, Ben van Beurden today reinforces his
priorities for the company in presentations to financial markets.
Shell's strategy is founded on technological expertise, disciplined capital
investment, integrated operations, and large scale. This is underpinned by an
unrelenting focus on safety. Investment in long term opportunities is balanced
with short term delivery.
Van Beurden said: "Shell has a strong asset base and industry leadership in many
of its growth themes. While this position of strength gives confidence for the
future, it is also clear that we need to get a tighter grip on performance
management in Shell. I am determined that, by focusing sharply on our three key
priorities - better financial performance, in particular in our Upstream
Americas and Downstream businesses, enhanced capital efficiency, and continuing
strong project delivery, we will continue to grow our cash flow and improve our
returns."
Shell will drive sharper performance management of the company's portfolio than
in the past, through a more detailed segmentation of the business, into
performance units.
Van Beurden said: "With sharper accountability in the company, this approach
will target growth investment more effectively, focus on areas of the business
where performance improvement is most required, and drive asset sales from
non-strategic positions."
Shell's investment strategy recognizes three distinct time horizons that can be
characterized as follows:

    - Maintaining the existing cash "engines" businesses, where Upstream is
      delivering high returns and strong cash flow, with further potential from
improved
      operational uptime and selective growth, and where Downstream faces
headwinds in Oil
      Products.
    - Delivering near-term cash flow from "growth priorities" - deep-water and
      integrated gas, with industry-leading positions and capabilities, high
returns and
      cash flow, and rich development funnels. Integrated gas earnings, for
example, have
      increased by some 400% from 2009, to $9 billion in 2013.
    - Identifying and maturing "future opportunities" for the longer term,
including
      Nigeria, Iraq, Kazakhstan and global resources plays, where returns in
2013 were
      impacted by factors such as losses in North America and the security
situation in
      Nigeria.

Van Beurden said: "Shell has considerable strengths in portfolio, technology and
management capabilities. However, we must improve profitability in several
areas. We are taking stock of our investment opportunities and operating
positions. Are our assets attractive economically, and are they resilient to
industry cycles? Are our plans credible, are they competitive and are they
affordable? This approach is driving hard choices on today's asset base, new
opportunities, and disposals plans, where we have recently announced exits from
Australia and Italy downstream, Wheatstone LNG in Australia, and US
gas-to-liquids."
Highlighting two areas that need improvement, the company updated on Upstream
Americas and Downstream today.


    - Upstream Americas profitability has been impacted by losses in resources
      plays such as shales. Shell is shrinking this portfolio and cost base,
with 2014
      spending to be reduced by 20% compared to 2013, and redirecting onshore
investment to
      the lowest cost gas acreage with the best integration potential, and into
on-going
      exploration in liquids-rich shales. At the same time, profitable growth
should
      continue in deep-water and heavy oil, where an industry-leading
development programme
      is underway.
    - Shell's Downstream results include strong performance from businesses such
as
      chemicals, lubricants and biofuels, but weaker and more volatile delivery
from
      refining and fuels marketing. By disaggregating this portfolio into
distinctive
      performance units, the company intends to drive hard choices on capital
allocation for
      selective growth, and divestment of non-strategic positions, to improve
cash flow and
      returns.

The $35 billion organic investment programme for 2014 and the $15 billion
divestment targets for 2014-15, announced earlier this year, reflect an on-going
commitment to grow the company and at the same time to increase divestments to
more typical levels, after a slow down in 2013. Asset sales announced so far in
2014 total some $4.5 billion. Project start-ups from 2010 onwards added $9
billion (over 20%) to our 2013 cash flow, with more growth to come, from Shell's
industry-leading project flow.
Commenting on the financial position of the company, Van Beurden said: "We've
delivered industry-leading cash flow growth in recent years, and we want to pick
up the pace again both on cash flow and returns, driven by financial
performance, capital efficiency and project delivery. Shell's dividend growth -
expected to be some 4% for Q1 2014 - underscores that momentum and the potential
for the future."

Cautionary note
The companies in which Royal Dutch Shell plc directly and indirectly owns
investments are separate entities. In this announcement "Shell", "Shell Group"
and "Royal Dutch Shell" are sometimes used for convenience where references are
made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the
words "we", "us" and "our" are also used to refer to subsidiaries in general or
to those who work for them. These expressions are also used where no useful
purpose is served by identifying the particular company or companies.
"Subsidiaries", "Shell subsidiaries" and "Shell companies" as used in this
announcement refer to companies in which Shell either directly or indirectly has
control, by having either a majority of the voting rights or the right to
exercise a controlling influence. The companies in which Shell has significant
influence but not control are referred to as "associated companies" or
"associates" and companies in which Shell has joint control are referred to as
"jointly controlled entities". In this announcement, associates and jointly
controlled entities are also referred to as "equity-accounted investments". The
term "Shell interest" is used for convenience to indicate the direct and/or
indirect (for example, through our 23 per cent shareholding in Woodside
Petroleum Ltd.) ownership interest held by Shell in a venture, partnership or
company, after exclusion of all third-party interest.
This announcement contains forward looking statements concerning the financial
condition, results of operations and businesses of Shell and the Shell Group.
All statements other than statements of historical fact are, or may be deemed to
be, forward-looking statements. Forward-looking statements are statements of
future expectations that are based on management's current expectations and
assumptions and involve known and unknown risks and uncertainties that could
cause actual results, performance or events to differ materially from those
expressed or implied in these statements. Forward-looking statements include,
among other things, statements concerning the potential exposure of Shell and
the Shell Group to market risks and statements expressing management's
expectations, beliefs, estimates, forecasts, projections and assumptions. These
forward looking statements are identified by their use of terms and phrases such
as "anticipate", "believe", "could", "estimate", "expect", "goals", "intend",
"may", "objectives", "outlook", "plan", "probably", "project", "risks", "seek",
"should", "target", "will" and similar terms and phrases. There are a number of
factors that could affect the future operations of Shell and the Shell Group and
could cause those results to differ materially from those expressed in the
forward looking statements included in this announcement, including (without
limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in
demand for Shell's products; (c) currency fluctuations; (d) drilling and
production results; (e) reserves estimates; (f) loss of market share and
industry competition; (g) environmental and physical risks; (h) risks associated
with the identification of suitable potential acquisition properties and
targets, and successful negotiation and completion of such transactions; (i) the
risk of doing business in developing countries and countries subject to
international sanctions; (j) legislative, fiscal and regulatory developments
including regulatory measures addressing climate change; (k) economic and
financial market conditions in various countries and regions; (l) political
risks, including the risks of expropriation and renegotiation of the terms of
contracts with governmental entities, delays or advancements in the approval of
projects and delays in the reimbursement for shared costs; and (m) changes in
trading conditions. All forward looking statements contained in this
announcement are expressly qualified in their entirety by the cautionary
statements contained or referred to in this section. Readers should not place
undue reliance on forward looking statements. Additional factors that may affect
future results are contained in Shell's 20-F for the year ended 31 December 2013
(available at http://www.shell.com/investor and http://www.sec.gov). These
factors also should be considered by the reader. Each forward looking statement
speaks only as of the date of this announcement, 13 March 2014. Neither Shell
nor any of its subsidiaries nor the Shell Group undertake any obligation to
publicly update or revise any forward looking statement as a result of new
information, future events or other information. In light of these risks,
results could differ materially from those stated, implied or inferred from the
forward looking statements contained in this announcement.


    Enquiries:
    Shell Media Relations:
    International +44-207-934-5550
    Americas +1-713-241-4544

    Shell Investor Relations:
    International +31-70-377-4540
    North America +1-713-241-1042

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		Royal Dutch Shell plc

Date: 13 March 2014	By:	/s/M.C.M. Brandjes
	Name:	M.C.M. Brandjes
	Title:	Company Secretary

Royal Dutch Shell plc ———————————————————————————————————
(Translation of registrant’s name into English)

30, Carel van Bylandtlaan, 2596 HR The Hague The Netherlands
——————————————————————————————————— (Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: [x] Form 20-F [ ] Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: [ ] Yes [x] No