Royal Dutch Shell (RDS) is an integrated oil & gas company operating in 90 countries. RDS has proved oil & gas reserves of 14,273 mmboe as on 31 December 2010, which corresponds to 11.8 years of their 2010 production of 3.3 mmboe per day. Europe accented for 37% of production in 2010, while European reserves are at 23% of total reserves. The largest reserve base is in Asia, at 37%. RDS is poised to deliver long term organic growth through planned capital investments of GBP 16bn-17.5bn per year till 2014 (2010: GBP 17.5bn). Acquisition of 1.3m acres in US Marcellus and Eagle Ford shale in 2010 is in line with RDS’ intentions to increase production from unconventional sources. RDS expects production to increase 6% and cash flow 50-80% by 2012. The oil & gas industry has potential for long term growth as the energy consumption in Emerging Markets is rising with the economic growth. Regulatory conditions and uncertain geologies remain a challenge for the company in developing large capital projects. Also, volatility in oil & gas prices remains a risk for the company’s operating results.