UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of June 2026
Commission File Number: 1-32575
Shell plc
(Exact name of registrant as specified
in its charter)
England and Wales
(Jurisdiction of incorporation or organization)
Shell Centre
London, SE1 7NA
United Kingdom
(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.
Form 20-F [ X ] Form 40-F [ ]
Shell announces pause in share buyback programme
June 12, 2026
Further to its May 7, 2026 announcement of the start of a $3.0 billion
share buyback programme covering an aggregate contract term of approximately three months (the ‘programme’), Shell plc (the
‘Company’) today announces that, following publication of the ARC Resources Ltd. (“ARC”) shareholder circular
and due to related securities law requirements that apply to the Company, the programme is suspended from, and including, June 12, 2026
until, and including, market close on July 14, 2026, being the published date of the ARC shareholder meeting. Any buybacks not undertaken
due to such suspension will be part of the remaining 2026 programmes (subject to Board approval). The Company will provide a further update
if the suspension extends beyond the dates set out herein.
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
Cautionary Note
The companies in which Shell plc directly and indirectly owns investments
are separate legal entities. In this announcement “Shell”, “Shell Group” and “Group” are sometimes
used for convenience to reference Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and
“our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also
used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell
subsidiaries” and “Shell companies” as used in this announcement refer to entities over which Shell plc either directly
or indirectly has control. The terms “joint venture”, “joint operations”, “joint arrangements”, and
“associates” may also be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest
with one or more parties. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership
interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.
Forward-Looking statements
This announcement contains forward-looking statements (within the meaning
of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses
of Shell. 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 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 “aim”; “ambition”; ‘‘anticipate’’;
“aspire”, “aspiration”, ‘‘believe’’; “commit”; “commitment”; ‘‘could’’;
“desire”; ‘‘estimate’’; ‘‘expect’’; ‘‘goals’’; ‘‘intend’’;
‘‘may’’; “milestones”; ‘‘objectives’’; ‘‘outlook’’;
‘‘plan’’; ‘‘probably’’; ‘‘project’’; ‘‘risks’’;
“schedule”; ‘‘seek’’; ‘‘should’’; ‘‘target’’; “vision”;
‘‘will’’; “would” and similar terms and phrases. There are a number of factors that could affect the
future operations of Shell 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, including climate change; (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, judicial, fiscal and regulatory developments
including tariffs and 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; (m) risks associated with the impact
of pandemics, regional conflicts, such as the Russia-Ukraine war and the conflict in the Middle East, and a significant cyber security,
data privacy or IT incident; (n) the pace of the energy transition; and (o) changes in trading conditions. No assurance is provided that
future dividend payments will match or exceed previous dividend payments. 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 risk factors that may affect future results are contained in Shell plc’s
Form 20-F for the year ended December 31, 2025 (available at www.shell.com/investors/news-and-filings/sec-filings.html and www.sec.gov).
These risk factors also expressly qualify all forward-looking statements contained in this announcement and should be considered by the
reader. Each forward-looking statement speaks only as of the date of this announcement, June 12, 2026. Neither Shell plc nor any of its
subsidiaries 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.
Shell’s net carbon intensity
Also, in this announcement we may refer to Shell’s “net carbon
intensity” (NCI), which includes Shell’s carbon emissions from the production of our energy products, our suppliers’
carbon emissions in supplying energy for that production and our customers’ carbon emissions associated with their use of the energy
products we sell. Shell’s NCI also includes the emissions associated with the production and use of energy products produced by
others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell’s “net carbon intensity”
or NCI is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.
Shell’s net-zero emissions target
Shell’s operating plan and outlook are forecasted for a three-year
period and ten-year period, respectively, and are updated every year. They reflect the current economic environment and what we can reasonably
expect to see over the next three and ten years. Accordingly, the outlook reflects our combined Scope 1 and 2 target, NCI target and our
oil products ambition over the next ten years. However, Shell’s operating plan and outlook cannot reflect our 2050 net-zero emissions
target, as this target is outside our planning period. Such future operating plans and outlooks could include changes to our portfolio,
efficiency improvements and the use of carbon capture and storage and carbon credits. In the future, as society moves towards net-zero
emissions, we expect Shell’s operating plans and outlooks to reflect this movement. However, if society is not net zero in 2050,
as of today, there would be significant risk that Shell may not meet this target.
Forward-Looking non-GAAP measures
This announcement may contain certain forward-looking non-GAAP measures
such as free cash flow and underlying operating expenses. We are unable to provide a reconciliation of these forward-looking non-GAAP
measures to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the
most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and
gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide
a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect
of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent
with the accounting policies applied in Shell plc’s consolidated financial statements.
The contents of websites referred to in this announcement do not form
part of this announcement.
We may have used certain terms, such as resources, in this announcement
that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors
are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.
This Report on Form 6-K is incorporated by reference into:
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(a) |
the Registration Statement on Form F-3 of Shell plc, Shell Finance US Inc. and Shell International Finance B.V. (Registration Numbers
333-276068, 333-276068-01 and 333-276068-02); |
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(b) |
the Registration Statement on Form F-4 of Shell Finance US Inc. and Shell plc (Registration Numbers 333-296155 and 333-296155-01); and |
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(c) |
the Registration Statements on Form S-8 of Shell plc (Registration Numbers 333-262396, 333-272192 and 333-292109). |
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.
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Shell plc |
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(Registrant) |
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| Date: June 15, 2026 |
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/s/ SEAN ASHLEY |
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Sean Ashley |
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Company Secretary |
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