|Bid||2,245.00 x 0|
|Ask||2,246.50 x 0|
|Day's range||2,235.50 - 2,266.50|
|52-week range||2,209.50 - 2,637.50|
|Beta (3Y monthly)||1.25|
|PE ratio (TTM)||902.50|
|Forward dividend & yield||1.52 (6.76%)|
|1y target est||N/A|
Britain has agreed to hold further talks with other European countries before deciding whether to approve Shell's plans to decommission four disused oil rigs in the Atlantic. Germany had called a special meeting Friday of the OSPAR Commission, which oversees a treaty on protecting the Northeast Atlantic, because of concerns the rigs containing about 11,000 metric tons (12,125 tons) of crude oil residue could pose an environmental risk. The OSPAR secretariat said after the meeting in London that Britain "will further engage in discussions with parties before taking a decision on whether to issue the permit" exempting Shell from having to remove all of the huge steel and concrete platforms.
Documents from Saudi Aramco show that the world's largest oil firm earns only a limited proportion of its profit from foreign refining ventures, an area in which the company plans huge investment. The news comes as Aramco, according to two sources familiar with the matter, has delayed the planned launch of its initial public offering in hopes that pending third-quarter results will bolster investor confidence. Saudi Refining Inc, through which Aramco operates the largest U.S. oil refinery, made $423 million last year, separate accounts showed.
Pieridae Energy moved closer to building a liquefied natural gas (LNG) export terminal on Canada's East Coast after taking ownership of fields from Royal Dutch Shell which will feed gas into the plant, the company said. The Goldboro LNG terminal would be the first on Canada's East Coast and compete with the growing number of plants on the U.S. Gulf Coast, hoping its shorter distance to Europe and further west will help sell its LNG by cutting shipping costs.
Natural Gas is coming up against increasingly strong resistance from environmental activists and the public in general, leading some to question whether it will face the same fate as coal
The German government said Wednesday it has called an international meeting over Shell's refusal to dismantle old oil rigs containing thousands of tons of crude in the Northeast Atlantic. A spokesman for Germany's environment ministry told reporters in Berlin that the OSPAR Commission, which oversees a treaty on protecting the Northeast Atlantic, will hold an unprecedented special session in London to discuss the issue Friday. Stephan Gabriel Haufe said the four Shell platforms in question — known as Brent Alpha, Bravo, Charlie and Delta — contain about 11,000 metric tons (12,125 tons) of crude oil residue.
Royal Dutch Shell still sees abundant opportunity to make money from oil and gas in coming decades even as investors and governments increase pressure on energy companies over climate change, its chief executive said. Shell, which supplies around 3% of the world's energy, set out in 2017 a plan to halve the intensity of its greenhouse emissions by the middle of the century, based in large part on building one of the world's biggest power businesses. A defiant van Beurden rejected a rising chorus from climate activists and parts of the investor community to transform radically the 112-year-old Anglo-Dutch company's traditional business model.
Greenpeace activists boarded two Royal Dutch Shell oil platforms in the British North Sea on Monday in protest against plans to leave parts of the giant structures in place after production shuts down. Shell confirmed that protesters boarded the Brent Alpha platform and the Brent Bravo concrete legs.
Ten companies on Thursday agreed to pay more than $2 billion for the exploration and production rights in 12 offshore oil blocks in Brazil, in what could be a promising sign for even bigger upcoming oil auctions. The most heavily sought after areas in the Thursday auction directly border Brazil's so-called pre-salt area, a coveted zone in which billions of barrels of oil are trapped under a thick layer of salt beneath the ocean floor. The biggest move came from a France's Total SA, which, in a consortium with Malaysia's Petronas and Qatar Petroleum, dropped 4.029 billion reais for one block abutting the pre-salt area.
Royal Dutch Shell , Japan's Mitsubishi Corp and private equity firm KKR have made the final round in an auction for Dutch utility Eneco, three sources close to the matter said. Eneco, estimated by analysts to be worth about 3 billion euros, aims to wrap up the process by Christmas. Royal Dutch Shell has teamed with Dutch pension fund manager PGGM while KKR has teamed with Dutch lender Rabobank, the sources said.
Royal Dutch Shell, Japan's Mitsubishi Corp and private equity firm KKR have made the final round in an auction for Dutch utility Eneco, three sources close to the matter said. Eneco, estimated by analysts to be worth about 3 billion euros ($3.4 billion), aims to wrap up the process by Christmas. Royal Dutch Shell has teamed with Dutch pension fund manager PGGM while KKR has teamed with Dutch lender Rabobank, the sources said.
Royal Dutch Shell said on Thursday it would offset the carbon dioxide emissions of around 1.5 million road users in Britain starting later this month under a loyalty scheme. Shell, like other oil companies, has come under pressure from shareholders to show how it plans to reduce its carbon footprint and help cut greenhouse gas emissions, a major cause of global warming. Britons are increasingly concerned about their environmental impact, with thousands of students striking earlier this year and green group Extinction Rebellion carrying out civil disobedience to push for more ambition on climate change.
Royal Dutch Shell's chief executive took aim beyond the energy sector to call on leaders of other industries including aviation, shipping and steel to jointly draw up plans to tackle greenhouse gas emissions. Ben van Beurden also warned on Wednesday that energy companies that do not collaborate in the fight against climate change under the 2015 Paris agreement risk going out of business. "Climate change is the biggest challenge facing the energy industry, but the energy industry isn't the biggest challenge for the world trying to tackle climate change," van Beurden told the Oil & Money conference.
Wide variations in the way oil companies report their efforts to reduce carbon emissions make it difficult to assess the risk of holding their shares as the world shifts away from fossil fuels, senior fund managers say. Fund managers are also applying environmental, social and governance (ESG) criteria more widely in traditional investments to help them judge how companies will fare over the long term. There is a growing realisation that some companies' profits will shrink faster than others as governments prioritise low-carbon energy to meet the U.N.-backed Paris agreement's goal of cutting emissions to "net zero" by the end of the century.
with BP, citing the alienation of young theatregoers, and protesters have dubbed its head office in London a “crime scene”. against climate change this week, oil companies are as reviled as banks and tobacco companies. Given that the world will rely on fossil fuels for decades, even with the most stringent government policies to reduce energy use, oil companies face their own climate emergency.
Berenberg cut its target price on ExxonMobil (XOM) stock from $73 to $63, according to Reuters. Analysts’ mean target price on ExxonMobil stock is $80.
Bill Gates’ advice to investors that are looking to invest in climate change projects was valid, but not everyone can afford to invest in ‘disruptive technologies’
European supermajors BP and Shell occupy the top spots on opposite sides of Rystad Energy’s M&A ranking for the oil and gas sector during the last five-year period
Britain's National Theatre has decided to end its partnership with energy group Royal Dutch Shell as part of a broader "climate emergency" initiative to reduce its carbon impact. The move came in the week that the Royal Shakespeare Company said it would drop BP Plc as its sponsor after young people told the theatre group its association with the energy company turned them off going to its plays. "The National Theatre has declared a climate emergency today ... Shell have been valued and longstanding supporters of the National Theatre ... This membership will come to an end in June 2020," a National Theatre spokeswoman said.
Royal Dutch Shell has promoted its current Australia chief, Zoe Yujnovich, to the role of executive vice president for conventional oil and gas from Jan. 1, based in the group's headquarters in The Hague, Shell Australia said on Friday. In her new role, Yujnovich will report to Shell's upstream director and be responsible for delivering growth across 18 countries, including Kazakhstan, Nigeria, Oman, the UK and Iraq. Yujnovich, an Australian, joined Shell in Canada in 2014 from the mining industry and since February 2017 has run its Australian business, which accounts for about a quarter of the group's invested capital.
Royal Dutch Shell and Ithaca Energy have given the go-ahead for upgrading the Pierce oilfield in the British North Sea so that it can produce natural gas, Shell said on Thursday. The project involves modifying the existing floating production, support and offloading (FPSO) vessel and installing a sub-sea gas export line from the FPSO to the SEGAL pipeline. "This important development of the Pierce field will allow us to unlock additional gas reserves for the UK," said Steve Phimister, head of Shell's North Sea.
Integrated energy stocks slumped in the third quarter. Lower oil prices, equity market volatility, and macro concerns hammered the stocks.
Norway's $1.1 trillion sovereign fund will divest its stakes in companies that are solely dedicated to oil and gas exploration and production, while maintaining ownership of refiners and other downstream firms, the country's Finance Ministry said on Tuesday. Norway's Parliament earlier this year endorsed a plan to cut some oil firms from the fund's portfolio, but it was left to the government to define the scope of the exclusion.