$SHEL

Market Chatter: Shell Nears Sale of Sprng Energy's India Business to Aditya Birla

Shell's (SHEL) Sprng Energy Indian renewable power business could be acquired by Aditya Birla Group, which has emerged as the frontrunner for the unit, Bloomberg reported Monday, citing people familiar with the matter.An agreement for the unit could be signed in the coming weeks, according to the report. Shell is seeking a valuation of around $1.8 billion for the unit, but terms could change, Bloomberg cited the sources as saying.A Shell representative told Bloomberg the company is in initial discussions with potential partners interested in Sprng Energy and that it is too early to comment on any outcome.Shell did not immediately reply to' request for comment. Aditya Birla declined to comment to Bloomberg and could not immediately be reached by.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Update: Shell Secures Agreements for Venezuelan Energy Projects

(Updates throughout with statements from Shell, Venezuelan government.)Energy giant Shell (SHEL) confirmed tothat its Venezuelan unit on Thursday secured a government license to explore and exploit natural gas from the 7-trillion-cubic-feet Loran offshore gas field.The licence allows Shell to extract 1.7 tcf of gas from the Loran field in Block 2 of the Plataforma Deltana, located in Venezuelan waters, through its Manatee platform in Trinidadian waters, Shell said in a statement shared with.The Loran project is awaiting a final investment decision and Trinidad government approvals.In addition, Shell has signed agreements with Venezuelan state-owned oil and gas company PDVSA to provide services and equipment to help expand output capacity, improve operations and boost gas recovery at the Carito and Pirital oil and gas production units located onshore in the northern region of Monagas State, the statement added.In a statement issued on Friday, the Venezuelan government said it has signed phase 1 of the license with Shell for the development and production of the Loran field and the gas agreement has been ratified by interim President Delcy Rodriguez.The deal is part of the five cooperation agreements entered into by the Venezuelan government and Shell on Thursday."These agreements sought to boost the country's energy capacity for both domestic consumption and to consolidate Venezuela's position as a gas exporter, taking advantage of the vast reserves of the asset, which has seven fields, six of them cross-border with Trinidad and Tobago," according to a government statement issued Thursday.The agreements were a result of a technical-financial alliance formed in March to carry out projects in northern Monagas state. These projects aim to increase the production of light crude required for the Merey 16 Blend and ensure a steady supply of feedstock to the Puerto La Cruz Refinery for fuel production, the government said."The subscription also included the acquisition of spare parts for the compression fleet, which allowed for a reduction in flue gas and the recovery of the resource for its incorporation into the electrical, industrial, petrochemical and domestic sectors," the statement added.According to a Reuters report last week, the agreements will make Shell one of the top partners of PDVSA for energy development in the country.has also reached out to the Venezuelan Petroleum Ministry separately for a comment.

Sector Update: Energy Stocks Higher Late Afternoon

Energy stocks rose late Friday afternoon, with the NYSE Energy Sector Index increasing 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.7%.The Philadelphia Oil Service Sector Index shed 0.1%, and the Dow Jones US Utilities Index rose 0.9%.Oil prices fell following media reports that the US and Iran are nearing a potential peace deal, just days after the two sides exchanged strikes in a sharp escalation of tensions since a ceasefire in April.US Energy Secretary Chris Wright said about 7 million barrels of daily oil and fuel shipments are flowing through the Strait of Hormuz, or about half the volumes stranded at the start of the war with Iran, Bloomberg reported.West Texas Intermediate crude oil fell 3.7% to $84.51 a barrel, and global benchmark Brent dropped 3.8% to $86.99 a barrel. Henry Hub natural gas futures rose 1.3% to $3.13 per 1 million BTU.In corporate news, Exxon Mobil (XOM) is studying potential takeover targets, including Woodside Energy (WDS), as the energy giant looks to increase its presence in the liquefied natural gas sector and in Asian markets, Bloomberg reported. Exxon shares rose 0.2%, and Woodside jumped past 6%.Shell (SHEL) said Friday it has suspended its ongoing $3 billion share buyback program. The suspension, effective Friday through July 14, is related to securities law requirements following publication of the shareholder circular by ARC Resources, Shell said. Separately, Shell is planning to begin the sale of its offshore wind farms for over $1 billion by the end of this year as the company prioritizes its fossil fuel business, Bloomberg reported. Shell shares were 0.4% lower.BP (BP) started a process to sell minority stakes in its Kaskida and Tiber projects in the Gulf of Mexico, Reuters reported. BP shares were fractionally higher.Venture Global (VG) shares were rising 2%. The company and Greece-based Atlantic-SEE LNG Trade said late Thursday they expanded their existing sales and purchase agreement for US liquefied natural gas. Venture Global also said late Thursday it closed an offering of $1.13 billion of 6.375% senior secured notes due Dec. 15, 2034, and $1.13 billion of 6.625% senior secured notes due June 15, 2036.

Sector Update: Energy Stocks Advance Friday Afternoon

Energy stocks rose Friday afternoon with the NYSE Energy Sector Index gaining 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.9%.The Philadelphia Oil Service Sector Index eased 0.1%, and the Dow Jones US Utilities Index rose 0.6%.Oil prices fell following media reports that the US and Iran are nearing a potential peace deal, just days after the two sides exchanged strikes in a sharp escalation of tensions since a ceasefire in April.US Energy Secretary Chris Wright said about 7 million barrels of daily oil and fuel shipments are flowing through the Strait of Hormuz, or about half the volumes stranded at the start of the war with Iran, Bloomberg reported.West Texas Intermediate crude oil fell 3.4% to $84.76 a barrel, and global benchmark Brent dropped 3.6% to $87.17 a barrel. Henry Hub natural gas futures rose 1.2% to $3.13 per 1 million BTU.In corporate news, Exxon Mobil (XOM) is studying potential takeover targets, including Woodside Energy (WDS), as the energy giant looks to increase its presence in the liquified natural gas sector and in Asian markets, Bloomberg reported. Exxon shares rose 0.5%, and Woodside jumped 6.3%.Shell (SHEL) is planning to begin the sale of its offshore wind farms for over $1 billion by the end of this year as the company prioritizes its fossil fuel business, Bloomberg reported. Shell shares eased 0.1%.BP (BP) started a process to sell minority stakes in its Kaskida and Tiber projects in the Gulf of Mexico, Reuters reported. BP shares rose 0.2%.

Update: Market Chatter: Shell Plans Sale of Offshore Wind Farms

(Updates with company response in the fourth paragraph.)Shell (SHEL) is planning to begin the sale of its offshore wind farms for over $1 billion by the end of this year as the company prioritizes its fossil fuel business, Bloomberg reported Friday, citing people familiar with the matter.The company has engaged Rothschild & Co. and PJT Partners to lead the sale, according to the report.The transaction is likely to take place in 2027, sources told the media outlet.Shell declined to comment on the matter.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $86.21, Change: $+0.36, Percent Change: +0.42%

Market Chatter: Shell Plans Sale of Offshore Wind Farms

Shell (SHEL) is planning to begin the sale of its offshore wind farms for over $1 billion by the end of this year as the company prioritizes its fossil fuel business, Bloomberg reported Friday, citing people familiar with the matter.The company has engaged Rothschild & Co. and PJT Partners to lead the sale, according to the report.The transaction is likely to take place in 2027, sources told the media outlet.Shell did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $86.08, Change: $+0.23, Percent Change: +0.27%

Shell Suspends $3 Billion Share Buyback Program

Shell (SHEL) said Friday it has suspended its ongoing $3 billion share buyback program.The suspension, effective Friday through July 14, is related to securities law requirements following publication of the shareholder circular by ARC Resources, Shell said.Shell shares were nearly 1% lower in Friday premarket activity.

Street Color: Shell Suspends Stock Buyback Program

Shell Reportedly Secures Agreements for Venezuelan Energy Projects

UK energy giant Shell (SHEL) inked a deal with the Venezuelan government on Thursday, which will allow it to participate in the development of the 7-trillion-cubic-feet Loran offshore gas field, multiple media outlets reported, citing the government.The deal was part of five agreements signed between the company and the Venezuelan government to develop oil and gas projects in the country, according to a Reuters report.In January this year, Venezuela had signed initial agreements with the company for these and other projects.Oil produced by Shell will increase the supply of diluents needed to produce Venezuela's main export grade, Merey crude, and provide feedstock for domestic refineries, the government said.The agreements will make Shell one of the top partners of state-owned energy company PDVSA for energy development in the country, the Reuters report said.has reached out to Shell and the Venezuelan Petroleum Ministry for a comment.

European Equities Traded in the US as American Depositary Receipts Track Higher in Tuesday Trading

European equities traded in the US as American depositary receipts were trending higher late Tuesday morning, rising 0.80% to 1,882.97 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biopharmaceutical company Cellectis (CLLS) and semiconductor company Sequans Communications (SQNS), which rose 3.8% and 3.7% respectively. They were followed by healthcare tech company Royal Philips (PHG) and biopharmaceutical company Grifols (GRFS), which were up 2.9% and 2.5% respectively.The decliners from continental Europe were led by telecommunications company Ericsson (ERIC) and petroleum refiner Equinor (EQNR), which dropped 5% and 2.6% respectively. They were followed by telecommunications company Nokia (NOK) and SAP (SAP), which lost 1.5% and 1% respectively.The gainers from the UK were led by communications company WPP (WPP) and biopharmaceutical company Amarin (AMRN), which advanced 7.9% and 5.6% respectively. They were followed by pharmaceutical company Silence Therapeutics (SLN) and biopharmaceutical company Akari Therapeutics (AKTX), which increased 5.1% and 2.7% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Biodexa Pharmaceuticals (BDRX) and oil and gas company BP (BP), which fell 2.2% and 1.8% respectively. They were followed by oil and gas company Shell (SHEL) and lender HSBC (HSBC), which were down 1.3% and 1.1% respectively.

Shell Commences Exchange Offers for Outstanding Unregistered Notes Issued by Shell Finance US

Shell (SHEL) said Monday it has commenced offers to exchange validly tendered and accepted notes of certain series of outstanding unregistered notes issued by Shell Finance US.The exchange offers allow holders to exchange up to the entire aggregate principal amount of each series of restricted notes for an equal principal amount of the corresponding series of exchange notes, the company said.The exchange notes will represent the same debt as the restricted notes, and Shell will issue the exchange notes under the same indenture that governs the applicable series of restricted notes, according to the company.Shell said it will accept for exchange all restricted notes validly tendered and not withdrawn prior to 5:00 pm ET on July 8, unless extended.Price: $86.44, Change: $+1.04, Percent Change: +1.22%

Raizen to Reportedly Sell Downstream Argentinian Assets to Mercuria for $1.42 Billion

Brazilian sugar and ethanol producer Raizen, through its subsidiary Raizen Energia, will sell its downstream assets in Argentina to Mercuria Energy Group for $1.42 billion, according to media reports.The deal involves a cash payment and assumption of debt by the buyer, according to Reuters, citing a securities filing.The company is a joint venture between Shell (SHEL) and Brazil's Cosan and it has been seeking to reduce large debts amassed through capital spending and exacerbated by unfavorable weather and wildfires that destroyed some of the sugar cane crop, Reuters reported.Brazilian newspaper Valor Economico said the sale process has been in the works for about a year and a half and had attracted interest from commodities companies including Trafigura, Vitol and Saudi Aramco.Argentine businessman Jose Luiz Manzano, a partner at Mercuria in other ventures, is part of the buying consortium Valor Economico said, based on information from sources.Reuters reported that the company's creditors have been examining Raizen's final proposal for restructuring out of court, that would cover 65 billion reais ($12.83 billion) of debt.has reached out to Raizen for a comment.

European Equities Traded in the US as American Depositary Receipts Rise in Thursday Trading

European equities traded in the US as American depositary receipts were tracking higher late Thursday morning, advancing 0.79% to 1,889.50 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biotech firm Evaxion (EVAX) and software company SAP (SAP), which climbed 10.5% and 5.9% respectively. They were followed by pharmaceutical company Sanofi (SNY) and accommodations booking site trivago (TRVG), which advanced 4.9% and 4.5% respectively.The decliners from continental Europe were led by telecommunications company Nokia (NOK) and semiconductor company Sequans Communications (SQNS), which were down 4.1% and 1.3% respectively. They were followed by biopharmaceutical company DBV Technologies (DBVT) and biopharmaceutical company Cellectis (CLLS), which fell 0.7% and 0.3% respectively.The gainers from the UK were led by biotech company Autolus Therapeutics (AUTL) and communications company WPP (WPP), which rose 7.1% and 5.5% respectively. They were followed by biopharmaceutical company Akari Therapeutics (AKTX) and software firm Endava (DAVA), which were up 3.8% and 1.6% respectively.The decliners from the UK and Ireland were led by insurance company Prudential (PUK) and mining company BHP Group (BHP), which dropped 7.1% and 2.4% respectively. They were followed by lender HSBC (HSBC) and oil and gas company Shell (SHEL), which lost 1.6% and 0.3% respectively.

European Equities Traded in the US as American Depositary Receipts Decline in Monday Trading

European equities traded in the US as American depositary receipts started the trading week lower late Monday morning, declining 0.2% to 1,867.7 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by software firm SAP (SAP) and petroleum refiner Equinor (EQNR), which advanced 7.2% and 5.6% respectively. They were followed by accommodations booking site trivago (TRVG) and telecommunications company Nokia (NOK), which increased 5.2% and 4.8% respectively.The decliners from continental Europe were led by semiconductor company Sequans Communications (SQNS) and biotech firm Evaxion (EVAX), which dropped 7.2% and 4.8% respectively. They were followed by biotech firm BioNTech (BNTX) and lender Banco Bilbao Vizcaya Argentaria (BBVA), which fell 4.3% and 2.5% respectively.The gainers from the UK were led by software company Endava (DAVA) and oil and gas company BP (BP), which rose 5.9% and 3.6% respectively. They were followed by oil and gas company Shell (SHEL) and communications company WPP (WPP), which were up 2.2% and 0.9% respectively.The decliners from the UK and Ireland were led by biopharmaceutical companies Akari Therapeutics (AKTX) and Mereo BioPharma Group (MREO), which lost 13.4% and 9.5% respectively. They were followed by biopharmaceutical company NuCana (NCNA) and pharmaceutical company Silence Therapeutics (SLN), which were down 7.7% and 4.4% respectively.

European Equities Traded in the US as American Depositary Receipts Decline in Wednesday Trading

European equities traded in the US as American depositary receipts were tracking lower late Wednesday morning, declining 0.48% to 1,880.02 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by internet advertising firm Criteo (CRTO) and biopharmaceutical company argenx (ARGX), which rose 5% and 2.8% respectively. They were followed by consumer goods company Unilever (UL) and biotech firm BioNTech (BNTX), which were up 2.1% and 1.9% respectively.The decliners from continental Europe were led by telecommunications companies Ericsson (ERIC) and Nokia (NOK), which dropped 4.1% and 3.4% respectively. They were followed by semiconductor company Sequans Communications (SQNS) and oil and gas company Eni (E), which lost 3.3% and 3% respectively.The gainers from the UK were led by biotech firm Autolus Therapeutics (AUTL) and software company Endava (DAVA), which advanced 3.7% and 3.4% respectively. They were followed by pharmaceutical company Silence Therapeutics (SLN) and alcoholic beverage company Diageo (DEO), which increased 3% and 2.7% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Akari Therapeutics (AKTX) and oil and gas company BP (BP), which fell 13% and 3.2% respectively. They were followed by utilities company National Grid (NGG) and oil and gas company Shell (SHEL), which were down 2.2% and 2.1% respectively.

Market Chatter: Trinidad's Atlantic LNG Shuts Major Export Unit for Maintenance as Global Supplies Tighten

Trinidad and Tobago's Atlantic LNG facility has shut its 6 million metric tons per annum Train 4 unit for two months of planned maintenance, Reuters reported, citing Gerald Ramdeen, Chairman of the National Gas Company of Trinidad and Tobago.With the outage set to take nearly half of Atlantic LNG's production capacity temporarily offline, near-term LNG supplies are expected to tighten further when global markets are already grappling with disruptions from the closure of the Hormuz Strait.Ramdeen told Reuters on Tuesday that the plant, which is jointly owned by Shell (SHEL), BP (BP) and NGC, was undergoing scheduled maintenance, which wasn't linked to any particular fault or issue.With a total capacity of 12 million metric tons per annum of LNG, the Atlantic LNG facility is the largest in Latin America, and has struggled in recent years amid declining domestic natural gas supplies.The National Gas Company of Trinidad and Tobago did not immediately respond to' request for a comment on this story.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Market Chatter: TotalEnergies Weighs Partial Sale of 1.2 GW European Renewables Portfolio

TotalEnergies (TTE) is exploring the sale of a 50% stake in a portfolio of European renewable energy assets as the French energy major seeks partners to help finance its green expansion strategy, Bloomberg reported, citing sources familiar with the matter.The company is reportedly working with advisers on a potential transaction involving about 1.2 gigawatts of solar and wind farms across France, Germany, Poland, and Spain, with asset values of several hundred million euros.The planned sale is part of TotalEnergies' strategy to divest 50% stakes in renewable projects once they become operational to improve returns on capital-intensive green investments.While rivals including Shell (SHEL) and BP (BP) have scaled back parts of their clean-energy ambitions following weaker-than-expected returns, TotalEnergies has continued to pursue a diversification strategy under which electricity is expected to account for about 20% of its energy output by 2030.TotalEnergies did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $90.86, Change: $-1.49, Percent Change: -1.61%

Shell Inks Renewable Electricity Supply Deal With Makro, Statkraft in Spain

Shell (SHEL) has finalized a 10-year agreement with distribution company Makro and renewable energy firm Statkraft for the annual supply of 85 gigawatt-hours of renewable electricity across Spain, the company said on Thursday.Under a sleeving model, Shell will handle the physical delivery of power generated by Statkraft as per its supply agreement with Makro.A sleeved energy model refers to a Power Purchase Agreement in which power generated from a solar asset can be "sleeved" to other sites, even when not physically connected to the source of demand, via an energy supplier, according to the NGO, Net Zero Go.Moreover, Shell said it will provide additional electricity to ensure sufficient supply to Makro's 37 Cash & Carry stores in Spain and regional logistics platform in Catalonia."This type of agreement, which is new to the Spanish market, enables large energy consumers to balance sustainability, security of supply and competitiveness, providing a robust pathway to advance their energy transition through physical, traceable and long-term solutions," Shell said.Price: $86.60, Change: $-0.34, Percent Change: -0.39%

Sector Update: Energy Stocks Advance Pre-Bell Thursday

Energy stocks were advancing pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.8% higher.The United States Oil Fund (USO) was up 3.4% and The United States Natural Gas Fund (UNG) was 0.4% higher.Front-month US West Texas Intermediate crude oil was 0.8% lower at $107.77 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2.5% to $107.65 per barrel, and natural gas futures were up 1.5% at $3.05 per 1 million British Thermal Units.Shell (SHEL), BP (BP), PT Perusahaan Gas Negara, and PT PLN Energi Primer Indonesia signed agreements with Japan's Inpex for liquified natural gas offtake from the Abadi LNG Project at the Masela Block in offshore Indonesia, Inpex said. Shares of Shell and BP were up more than 1% premarket.Equinor (EQNR) and BP joint venture Aker BP have agreed on several transactions to support production across their portfolio on the Norwegian Continental Shelf, the companies said. Equinor shares were up more than 2% pre-bell.Borr Drilling (BORR) stock was down more than 6% after the company reported a wider Q1 net loss.

Sector Update: Energy

Energy stocks were advancing pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.6% higher.The United States Oil Fund (USO) was up 2.5% and the United States Natural Gas Fund (UNG) was 0.4% lower.Front-month US West Texas Intermediate crude oil was 0.8% lower at $107.77 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2% to $107.15 per barrel, and natural gas futures were up 0.8% at $3.03 per 1 million British Thermal Units.Shell (SHEL), BP (BP), PT Perusahaan Gas Negara, and PT PLN Energi Primer Indonesia signed agreements with Japan's Inpex for liquified natural gas offtake from the Abadi LNG Project at the Masela Block in offshore Indonesia, Inpex said. Shares of Shell and BP were up more than 1% premarket.