Shell Secures Major LNG Deal With Temasek’s Pavilion Energy: Details
Shell Eastern Trading Pte. Ltd., a subsidiary of Shell, has expanded its global energy footprint by acquiring Pavilion Energy Pte. Ltd.
Plug Power Down 6% Wednesday: What’s Going On?
Plug Power faces scrutiny as a leading Senate Republican calls for an investigation into $1.66 billion financing, citing concerns over conflicts of interest and financial risks.
Shell And Exxon Eye North Sea Asset Sales In $500M Deal: Report
Shell and Exxon Mobil are nearing a $500 million deal to sell their jointly-owned gas fields in the North Sea to British producer Viaro Energy.
Shell’s LNG Gambit: Aussie LNG To Reportedly Quench Asia’s Thirst
Shell expects Australian LNG to meet demand in Asia. Cecile Wake sees Philippines, Thailand, Vietnam, & Bangladesh as key growth markets.
Shell Shareholders Reject Activist Climate Resolution: Details
Shell PLC (NYSE:SHEL) shareholders rejected a climate resolution by activist group Follow This, which aimed to align Shell's carbon targets with the Paris Agreement. Supported by investors managing $4 trillion, the proposal received 18.6% backing, down from last year's 20%. CEO Wael Sawan viewed the result as a vote of confidence in Shell's energy transition strategy, despite ongoing scrutiny and a significant legal challenge from a 2021 Dutch court ruling.
Excerpt 2:
Energy Shift: Shell Offloads Singapore Energy And Chemicals Park To Glencore-Chandra Asri Capital Joint Venture
Shell plc announces the sale of its Energy and Chemicals Park in Singapore to CAPGC Pte. Ltd., a joint venture between Chandra Asri and Glencore, as part of its strategic business optimization. The agreement includes the transfer of all assets and contracts, enhancing CAPGC's position in the global market.
Why BP Shares Are Trading Lower Premarket Today
BP shares trading lower on Q1 FY24 results, sales at $48.88B, below consensus of $55.08B. Production down 3.5% Y/Y, Renewables pipeline at 58.5GW, Adjusted EBITDA at $10.3B, RC profit at $0.97/ADS, operating cash flow at $5.01B, net debt reduced to $24.02B. CEO optimistic about strategy, announces dividend of 7.270 cents per share. Q2 FY24 outlook: slightly lower production, guidance for higher production in FY24, capital expenditure of $16B, divestment proceeds of $2B-$3B.
Shell Q1: Earnings Power Shines Despite Revenue Headwinds
Shell's first-quarter FY24 results show a decline in net income but an increase in adjusted earnings and dividend. Share buyback program announced.
Shell Exits Chinese Power Market, Eyes Gas Growth: Report
Shell reportedly exits China's power markets, focusing on bolstering profitability in natural gas and oil sectors. The move reflects a commitment to invest selectively in profitable ventures within the power sector, aligning with CEO Wael Sawan's vision.
Nigeria Reportedly Audits Shell’s $1.3B Onshore Oilfield Sale
The Nigerian oil regulator evaluates Shell's divestment of its onshore subsidiary to Renaissance consortium. Assets have 6.73B barrels of oil & 56.27T cubic feet of gas.