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Royal Dutch Shell Management Discusses Q2 2012 Results - Earnings Call Transcript

I think if you look at Shell's growth profile in the last few years, the investment profile was really dominated by Qatar and by Canada. Now there is an important shift in our project flow here because these 3 are now onstream, with a large number of projects driving the next wave of growth. This, of course, diversifies shareholder risk compared to the position in the last few years.

Some 60% of our Upstream spending this year, for example, is in North America and in Australia. We have around 8 billion barrels of resources under construction, over 20 projects underway, and more than 30 more on the drawing board to sustain our growth profile. Now all of this built into the cash flow and production targets that we have set for the company, which I mentioned earlier.

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