London, Jan 22, 2026, 08:36 GMT — Regular session
- Shell shares edged up in early London trading, as investors eyed buybacks and oil price movements.
- As the company restructures a vital technical unit, investors are closely watching for a potential leadership shift.
- Traders are focused on the upcoming batch of earnings and any hints about capital returns.
Shell Plc (SHEL.L) shares nudged higher in early London trade Thursday following the announcement of new share buybacks. The move lent support to the stock amid slipping crude prices. By 0837 GMT, shares ticked up 0.2% to 2,740 pence, having fluctuated between 2,735.5 and 2,757.0 pence. (Google)
This is significant now because Shell’s daily buyback updates have effectively become a live tally of cash returns, with the current programme approaching its planned conclusion. Investors often read into any shift in the buyback pace as a signal, even if the core business remains largely unchanged.
A separate management shake-up has also hit amid all this. It injects some uncertainty into executing major projects, just as the sector’s earnings remain tied to oil prices.
BP, Shell’s nearest rival on the London market, edged up roughly 0.2% to 446.05 pence by 0833 GMT. (Google)
Shell announced Wednesday it repurchased 1,320,967 shares for cancellation on Jan. 21. That included 659,237 shares in London at a volume-weighted average price of £27.3003, plus 661,730 shares in Amsterdam at a VWAP of €31.4427. The volume-weighted average price (VWAP) reflects prices weighted by the amount of stock traded at each price level. (GlobeNewswire)
Shell announced that Projects and Technology President Robin Mooldijk will leave the company on Feb. 28 as it moves to integrate technical expertise directly into its business units. CEO Wael Sawan praised Mooldijk’s leadership, calling it “critical to our progress.” The company also confirmed this shift will not affect its financial reporting segments. (Shell)
Oil once again set the tone. Brent slipped 0.43% to $64.96 a barrel by 0749 GMT, while U.S. WTI dropped 0.31% to $60.43. The American Petroleum Institute reported U.S. crude stocks climbed 3.04 million barrels last week, with gasoline inventories rising 6.21 million barrels. “Oil prices should hold at around $60 a barrel,” said Tony Sycamore, an IG analyst, as traders braced for official U.S. inventory figures due later Thursday. (Reuters)
Shell’s buybacks might steady the stock on slow days, but they can’t stop a sharp move in crude prices. If oil keeps falling—or if increasing inventories start to form a trend—energy shares could lose gains fast, despite ongoing capital returns.
Shell’s fourth-quarter results and dividend announcement arrive Feb. 5, serving as the next major catalyst. Investors are also keen to hear what will follow the current buyback window, which is nearing its close. (Shell)
