Shell Energy B2B brand to expand across USA

MP2 Energy, along with other affiliate entities, will now go to market for commercial customers in the United States as Shell Energy, in a move designed to provide one energy brand serving customers' transition needs.

The Shell Energy brand will encompass the customer-facing elements under which affiliates market wholesale and retail power, natural gas and environmental products, demand response, asset management, and energy solution sales to commercial and industrial customers. Under the rebrand, MP2 Energy and other affiliates' existing customer contracts will not change.

These integrated solutions allow Shell Energy to create tailored energy roadmaps based on business' individual needs. Existing and prospective customers will also benefit from direct access to Shell's global expertise, supported by one of the industry's largest energy trading operations.

"Integrating our energy offers under one brand is a positive step as we work to support our customers' decarbonization goals," said Glenn Wright, Vice President of Renewables and Energy Solutions for Shell in the Americas. "Our customers expect a certain level of expertise and support and providing them a consistent and recognizable brand offering allows us to build on the heritage of customer service and energy expertise that we've brought to the market for more than 20 years."

Electricity is the fastest-growing part of the energy system and, when generated from renewable sources, has a big role to play in reducing greenhouse gas emissions.

Shell Energy is working to build momentum in the energy transition by providing more and cleaner energy solutions to commercial customers across a portfolio of gas, power, and environmental products. Shell Energy is supporting the evolving energy needs of commercial customers, helping them navigate their business challenges.

The news coincided with a Q3 update in which Shell reported a $400 million hit from Hurricane Ida, and also announced:

Integrated Gas (adjusted EBITDA)

• Production is expected to be between 890 and 950 thousand barrels of oil equivalent per day.
• LNG liquefaction volumes are expected to be between 7.0 and 7.5 million tonnes, reflecting feedgas constraints and additional maintenance.

Upstream (adjusted EBITDA)

• Production is expected to be between 2,025 and 2,100 thousand barrels of oil equivalent per day including impacts from Hurricane Ida (~90kboe/d).
• Underlying Opex is expected to be between $100 and $350 million higher than the second quarter 2021.

Oil Products (adjusted EBITDA)

• Marketing margins are expected to be in line with the second quarter 2021.
• Refining indicative margin is around $5.70/bbl, higher than the $4.17/bbl in second quarter 2021.