Shell’s trading activities
Let’s discuss Royal Dutch Shell’s (RDS.A) trading volumes as a percentage of refined product sales. Shell’s trading volumes made up ~54% of sales volumes in 1Q16.
The company’s trading percentage has been calculated as sales volume in excess of refining output divided by sales. This rose from ~51% in 1Q15. Usually, all else being equal, trading margins on refined products are lower than sales margins on refined products.
Peers’ trading activities
Shell’s peer BP’s (BP) trading volumes stood at ~51% of its refined product sales volumes in 1Q16. ExxonMobil’s (XOM) trading volumes stood at ~22% of its refined product sales volumes during the same period.
For exposure to integrated energy sector stocks, you can consider the iShares Global Energy ETF (IXC). The ETF has ~56% exposure to the sector.