Transaction in Own Shares
Rhea-AI Summary
Shell (SHEL) purchased shares for cancellation on 15 January 2026 under its existing buy-back programme. Aggregated executed volumes reported: 658,369 shares on LSE at a volume-weighted average price of £27.3406, and 650,893 shares on XAMS at a volume-weighted average price of €31.6014. Purchases on other listed venues showed no trades that day. The buy-back programme runs from 30 October 2025 to 30 January 2026, with Merrill Lynch International making independent trading decisions within pre-set parameters. Transactions comply with UK MAR, EU MAR (as onshored) and Chapter 9 of the UK Listing Rules.
Positive
- Purchased 658,369 shares on LSE at VWAP £27.3406
- Purchased 650,893 shares on XAMS at VWAP €31.6014
- Buy-back conducted under programme running 30 Oct 2025–30 Jan 2026 with Merrill Lynch trading independently
Negative
- None.
News Market Reaction
On the day this news was published, CAG gained 1.46%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
SHEL up 1.6% with major integrated peers also higher: CVX +1.91%, XOM +2.24%, BP +2.43%, PBR +2.63%, TTE +0.57%, indicating a broad Energy move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 13 | Share buy-back | Positive | +2.1% | Disclosure of 1,677,480 shares repurchased and cancelled under buy-back programme. |
| Jan 12 | Share buy-back | Positive | +1.2% | Update on 1,961,992 shares repurchased and cancelled across LSE and XAMS. |
| Jan 09 | Share buy-back | Positive | +0.7% | Report of 2,089,933 shares bought back across multiple venues for cancellation. |
| Jan 08 | Share buy-back | Positive | -1.7% | Large 2,433,525-share buy-back update coincided with a negative price move. |
| Jan 08 | Q4 outlook update | Negative | -1.7% | Q4 2025 update with below break-even Chemicals and sizeable cash outflows. |
Recent buy-back disclosures generally coincided with modestly positive price reactions, while the Q4 2025 update with operational and cash outflow details saw a negative move.
Over recent months, SHEL has repeatedly reported on its on- and off-market share buy-back programmes, cancelling multi-million share blocks on 8–13 Jan 2026. These repurchases often aligned with small positive price moves, suggesting the market responded constructively to capital return updates. A separate Q4 2025 update note on 5 Feb 2026 outlined production ranges, refining and chemicals margins, and highlighted a significant $1.5bn cash outflow and below break-even Chemicals performance, which coincided with a negative price reaction.
Market Pulse Summary
This announcement is not directly tied to SHEL’s fundamentals, so context comes from recent disclosures. SHEL has focused on sizeable share repurchases and detailed operational updates, including Q4 2025 production ranges and a $1.5bn emissions-related cash outflow. Investors may watch for future buy-back reports, segment profitability—particularly in Chemicals—and the scale and timing of any additional large cash outflows in upcoming filings and trading updates.
AI-generated analysis. Not financial advice.
Transaction in Own Shares
15 January, 2026
• • • • • • • • • • • • • • • •
Shell plc (the ‘Company’) announces that on 15 January, 2026 it purchased the following number of Shares for cancellation.
Aggregated information on Shares purchased according to trading venue:
| Date of purchase | Number of Shares purchased | Highest price paid | Lowest price paid | Volume weighted average price paid per share | Venue | Currency |
| 15/01/2026 | 658,369 | 27.5400 | 27.0000 | 27.3406 | LSE | GBP |
| 15/01/2026 | - | - | - | - | Chi-X (CXE) | GBP |
| 15/01/2026 | - | - | - | - | BATS (BXE) | GBP |
| 15/01/2026 | 650,893 | 31.8150 | 31.2650 | 31.6014 | XAMS | EUR |
| 15/01/2026 | - | - | - | - | CBOE DXE | EUR |
| 15/01/2026 | - | - | - | - | TQEX | EUR |
These share purchases form part of the on- and off-market limbs of the Company's existing share buy-back programme previously announced on 30 October 2025.
In respect of this programme, Merrill Lynch International will make trading decisions in relation to the securities independently of the Company for a period from 30 October 2025 up to and including 30 January 2026.
The on-market limb will be effected within certain pre-set parameters and in accordance with the Company’s general authority to repurchase shares on-market. The off-market limb will be effected in accordance with the Company’s general authority to repurchase shares off-market pursuant to the off-market buyback contract approved by its shareholders and the pre-set parameters set out therein. The programme will be conducted in accordance with Chapter 9 of the UK Listing Rules and Article 5 of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes (“EU MAR”) and EU MAR as “onshored” into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time (“UK MAR”) and the Commission Delegated Regulation (EU) 2016/1052 (the “EU MAR Delegated Regulation”) and the EU MAR Delegated Regulation as “onshored” into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time.
In accordance with EU MAR and UK MAR, a breakdown of the individual trades made by Merrill Lynch International on behalf of the Company as a part of the buy-back programme is detailed below.
Enquiries
Media: International +44 (0) 207 934 5550; U.S. and Canada: https://www.shell.us/about-us/news-and-insights/media/submit-an-inquiry.html
Attachment
FAQ
How many shares did Shell (SHEL) repurchase on 15 January 2026?
What were the VWAPs for Shell (SHEL) repurchases on 15 January 2026?
Which venues executed Shell (SHEL) buy-back trades on 15 January 2026?
What is the time window for Shell's (SHEL) current buy-back programme?
Who made trading decisions for Shell's (SHEL) buy-back on behalf of the company?
Are Shell's (SHEL) repurchases compliant with market rules?
