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Shell plc

$SHEL
LSEEnergy

335 stories mentioning Shell plcUpdated 1d ago

Shares fell amid a broad energy-sector decline Monday as oil prices dropped on US-Iran peace progress and prospects of the Strait of Hormuz reopening.

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Sectors

Sector Update: Energy

Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index decreasing 0.3% and the State Street Energy Select Sector SPDR ETF (XLE) down 0.1%.The Philadelphia Oil Service Sector Index was climbing 1.6%, and the Dow Jones US Utilities Index shed 0.4%.In sector news, US forces disabled two Iranian-flagged unladen oil tankers on Friday attempting to dock at an Iranian port on the Gulf of Oman in violation of the US blockade, US Central Command said on X.Front-month West Texas Intermediate crude oil was rising 1.1% to $95.81 a barrel, and the global benchmark Brent crude contract was advancing 1.3% to $101.32 a barrel. Henry Hub natural gas futures shed 0.4% to $2.76 per 1 million BTU.In corporate news, Shell (SHEL) CEO Wael Sawan said the global oil market faces a shortage of nearly 1 billion barrels of crude due to the ongoing Iran conflict, warning that the supply deficit is "deepening every single day." Speaking during Shell's Q1 earnings call on Thursday, Sawan said the market has lost significant volumes either through "locked-in barrels or unproduced barrels," adding that the recovery process would take time. Shell shares were down 0.3%.

$SHEL
Commodities

Australia Orders LNG Exporters to Reserve 20% of Gas for Local Market, IEEFA Says

Australia will force LNG exporters on the country's east coast to reserve 20% of their supply for domestic users from July 2027, to ease shortages and lower prices, strategists at the Institute for Energy Economics and Financial Analysis said in a note on Friday.IEEFA analysts said the reservation policy is expected to create a modest oversupply of gas in eastern Australia and to put downward pressure on prices that have about tripled since LNG exports from Queensland began in 2015.The policy comes as the Australian Energy Market Operator has warned that eastern Australia could face gas shortages by 2029 as output from legacy offshore fields in the Gippsland Basin declines.The country's Federal Resources Minister Madeleine King said the government would legislate the domestic supply obligation while allowing exporters to honor existing long-term export commitments signed before Dec. 22, 2025.Kevin Morrison, energy finance analyst, Australian Oil and Gas, IEEFA, said Australia is one of the world's largest LNG exporters, shipping about 80% of its gas production mainly to Asian buyers, including Japan, China and South Korea.Morrison said concerns over domestic supply have intensified as manufacturers and chemical producers grapple with high energy costs.The reservation policy will apply to LNG producers operating in Queensland, where three major export plants at Gladstone were developed over the past decade.IEEFA said the rapid expansion of LNG exports from eastern Australia's domestic gas market to international prices is contributing to the closure of some gas-dependent industries, including fertilizer plants.Meanwhile, the consultancy said the policy could also reshape dynamics among LNG exporters.Two Queensland LNG ventures, Origin Energy's Australia Pacific LNG and Shell-operated (SHEL) Queensland Curtis LNG, already supply the domestic market. Santos-led Gladstone LNG has relied heavily on buying gas from third-party producers to meet export commitments.Morrison said the practice reduced gas available to local users and contributed to higher prices and supply concerns.The reservation policy mirrors Western Australia's domestic gas policy, introduced in 2006, which broadly requires LNG exporters to reserve 15% of output for local use. However, IEEFA noted compliance has been weak, with only 8% of gas supplied domestically in 2023.IEEFA said the effectiveness of the new policy would depend on the final legislation and consultation process, noting that loopholes could dilute its impact on domestic supply.Price: $84.53, Change: $+0.29, Percent Change: +0.34%

$SHEL
Equities

Shell CEO Says Oil Market Faces Nearly 1 Billion Barrel Shortage Due to Iran War

Shell (SHEL) CEO Wael Sawan said the global oil market faces a shortage of nearly 1 billion barrels of crude due to the ongoing Iran conflict, warning that the supply deficit is "deepening every single day."Speaking during Shell's first-quarter earnings call on Thursday, Sawan said the market has lost significant volumes either through "locked-in barrels or unproduced barrels," adding that the recovery process would take time.He said Shell was already seeing the impact across the refining market, with some demand destruction emerging in sectors such as aviation.Sawan added that the extent of future demand weakness remained uncertain and would depend on how the conflict evolved in coming months.The comments come as disruptions linked to the Iran conflict continue to tighten global crude and fuel markets, particularly around the Strait of Hormuz, a key route for oil and LNG shipments.Shell executive said up to 15% of global crude supplies have been disrupted by the conflict.

$SHEL
Sectors

Sector Update: Energy Stocks Slide Late Afternoon

Energy stocks declined late Thursday afternoon, with the NYSE Energy Sector Index dropping 1.9% and the State Street Energy Select Sector SPDR ETF (XLE) falling 1.8%.The Philadelphia Oil Service Sector Index lost 2.5%, and the Dow Jones US Utilities Index shed 1.5%.In sector news, Iran has created a government agency to vet and tax vessels seeking passage through the Strait of Hormuz, the Associated Press reported, citing Lloyd's List Intelligence. Tehran is reviewing the latest US proposals for ending the war.West Texas Intermediate crude oil rose 1.5% to $96.53 a barrel, and global benchmark Brent gained 0.8% at $102.11 a barrel. Henry Hub natural gas futures rose 1.6% to $2.77 per 1 million BTU.US natural gas stocks rose 63 billion cubic feet in the week ended Friday, smaller than the 72 billion rise expected in a Bloomberg survey and following the gain of 79 billion in the previous week.In corporate news, BKV (BKV) shares fell 2.5% after it reported Q1 adjusted earnings Thursday of $0.22 per diluted share, down from $0.44 a year earlier. An analyst polled by FactSet expected $0.36.Cheniere Energy (LNG) shares dropped nearly 4% after the company reported a Q1 loss of $16.65 per diluted share, swinging from earnings of $1.57 a year earlier.Shell (SHEL) shares fell 3.5% after the company reported lower-than-expected Q1 revenue.Tenaris (TS) shares slumped 5.3% after the company said Q2 sales will be affected by lower shipments in the Middle East. Tenaris also named Gabriel Podskubka CEO.

$BKV$LNG$SHEL$TS
Sectors

Sector Update: Energy Stocks Lower Thursday Afternoon

Energy stocks declined Thursday afternoon with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each falling 1.7%.The Philadelphia Oil Service Sector Index dropped 1.9%, and the Dow Jones US Utilities Index shed 1.1%.In sector news, Iran has created a government agency to vet and tax vessels seeking passage through the Strait of Hormuz, the Associated Press reported, citing Lloyd's List Intelligence. Tehran is reviewing the latest US proposals for ending the war.West Texas Intermediate crude oil rose 1% to $96 a barrel, and global benchmark Brent gained 0.2% at $101.45 a barrel. Henry Hub natural gas futures rose 2.1% to $2.79 per 1 million BTU.US natural gas stocks rose 63 billion cubic feet in the week ended Friday, smaller than the 72 billion increase expected in a survey compiled by Bloomberg and following the gain of 79 billion in the previous week.In corporate news, Cheniere Energy (LNG) shares fell 5.2% after the company reported a Q1 loss of $16.65 per diluted share, swinging from earnings of $1.57 a year earlier.Shell (SHEL) shares fell 3.1% after the company reported lower-than-expected Q1 revenue.Tenaris (TS) shares dropped 5.3% after the company said Q2 sales will be affected by lower shipments in the Middle East. Tenaris named Gabriel Podskubka CEO.

$LNG$SHEL$TS
Asia Markets

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

European equities traded in the US as American depositary receipts were tracking lower late Thursday morning, losing 0.87% to 1,830.89 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by medical device maker EDAP TMS (EDAP) and accommodations booking company trivago (TRVG), which advanced 12% and 8%, respectively. They were followed by internet advertising firm Criteo (CRTO) and software company SAP (SAP), which increased 3.8% and 3.5%, respectively.The decliners from continental Europe were led by telecommunications company Nokia (NOK) and petroleum refiner Equinor (EQNR), which fell 4.4% and 4.3%, respectively. They were followed by semiconductor company Sequans Communications (SQNS) and pharmaceutical company Ascendis Pharma (ASND), which were down 2.7% and 2.3% respectively.The gainers from the UK were led by biopharmaceutical companies Akari Therapeutics (AKTX) and Biodexa Pharmaceuticals (BDRX), which rose 5.3% and 3.8% respectively. They were followed by communications company WPP (WPP) and hospitality company InterContinental Hotels Group (IHG), which were up 2.7% and 2.3% respectively.The decliners from the UK and Ireland were led by pharmaceutical company Silence Therapeutics (SLN) and biopharmaceutical company Bicycle Therapeutics (BCYC), which lost 4.9% and 3.2% respectively. They were followed by biotech firm Autolus Therapeutics (AUTL) and oil and gas company Shell (SHEL), which dropped 2.7% and 2.6% respectively.

$AKTX$ASND$AUTL$BCYC$BDRX$CRTO$EDAP$EQNR$IHG$NOK$SAP$SHEL$SLN$SQNS$TRVG$WPP
Sectors

Sector Update: Energy Stocks Decline Pre-Bell Thursday

Energy stocks were lower premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) retreating by 1.6%.The United States Oil Fund (USO) was down 3.5%, while The United States Natural Gas Fund (UNG) was 0.6% lower.Front-month US West Texas Intermediate crude oil was down 4.1% at $91.20 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 3.7% to $97.56 per barrel, and natural gas futures were 1% lower at $2.70 per 1 million British Thermal Units.Shell (SHEL) shares were down nearly 2% in early activity after the company reported lower-than-expected Q1 revenue.Tenaris (TS) shares were 4% lower in premarket activity after the company said its Q2 sales will be affected by lower shipments in the Middle East. Tenaris also named Gabriel Podskubka its chief executive officer.MGE Energy (MGEE) stock was down 4.4% before the opening bell after the company said late Wednesday it has launched an underwritten public offering of $250 million common shares, including about $75 million of shares to be sold directly by the company and roughly $175 million to be sold through forward sale agreements.

$MGEE$SHEL$TS$UNG$USO$XLE
Asia Markets

Peace Deal Hopes, Strong Earnings Nudge US Equity Futures Higher Pre-Bell

US equity futures were slightly higher pre-bell Thursday as hopes for a finalized peace deal between the US and Iran continue, on top of a strong earnings season to date.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.1% higher.A final peace agreement would end the conflict and reopen the Strait of Hormuz, President Donald Trump said in a Truth Social post on Wednesday. The White House had said it was nearing an agreement with Iran that would end the war and establish a framework for more detailed nuclear negotiations, according to an Axios report.However, Trump said Iran's acceptance of the US proposal would be "perhaps, a big assumption," and warned that bombing would resume "at a much higher level and intensity than it was before" if an agreement was not reached. An Iranian foreign ministry spokesperson told CNBC on Wednesday that Iran was evaluating the proposal.Traders absorbed the most recent round of earnings, with Shell (SHEL) and McDonald's (MCD) posting higher Q1 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 4.3% at $96.96 per barrel and US West Texas Intermediate crude 4.9% lower at $90.45 per barrel.The weekly jobless claims bulletin, released at 8:30 am ET, showed 200,000 new unemployment claims for the week ended May 2, compared with the upwardly revised figure of 190,000 in the prior week, and it came in below the 205,000 expected, according to estimates compiled by Bloomberg. Q1 nonfarm productivity increased at a 0.8% annual rate, topping forecasts for 0.6%, while unit labor costs increased 2.3%, compared with the 2.5% expected.The February and March construction spending reports are due at 10 am ET.Federal Reserve Minneapolis President Neel Kashkari, Cleveland President Beth Hammack, and New York President John Williams are slated to speak today.In other world markets, Japan's Nikkei closed 5.6% higher, Hong Kong's Hang Seng ended 1.6% higher, and China's Shanghai Composite finished 0.5% higher. Meanwhile, the UK's FTSE 100 was down 0.6%, and Germany's DAX index was 0.1% lower in Europe's early afternoon session.In equities, Tesla (TSLA) stock was up 1.9% after the company's China-made electric vehicle sales rose for the sixth consecutive month on a year-over-year basis, according to a Reuters report. DoorDash (DASH) shares rose 8.7% after the company posted Q1 earnings that topped analysts' consensus. Fortinet (FTNT) stock was up 17% after the company posted a stronger-than-expected jump in Q1 earnings and sales, as well as boosted its full-year 2026 guidance.On the losing side, Shell stock was down 1.8% after the company reported its Q1 financial results. ARM (ARM) shares fell 7% despite the company posting higher fiscal Q4 adjusted earnings and revenue.

Dow JonesNasdaq CompositeS&P 500$ARM$DASH$FTNT$MCD$SHEL$TSLA
Sectors

Sector Update: Energy

Energy stocks were lower premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) retreating by 1.7%.The United States Oil Fund (USO) was down 4.9%, while the United States Natural Gas Fund (UNG) was 0.8% lower.Front-month US West Texas Intermediate crude oil was down 4.1% to $91.20 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 3.7% to $97.56 per barrel, and natural gas futures were 1% lower at $2.70 per 1 million British Thermal Units.Shell (SHEL) shares fell 2.3% in early activity after the company reported lower-than-expected Q1 revenue.

$SHEL$UNG$USO$XLE
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Thursday Amid Corporate Earnings, Economic Data Deluge

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% higher in Thursday's premarket activity amid a deluge of corporate earnings results and economic data.US stock futures were also higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures advancing 0.1%, and Nasdaq futures gaining 0.1% before the start of regular trading.US layoff intentions rose in April, led by the technology sector due to increased use of AI, outplacement firm Challenger, Gray & Christmas reported Thursday.US initial jobless claims rose to a level of 200,000 in the week ended May 2 from an upwardly revised 190,000 level in the previous week, compared with expectations for a larger increase to 205,000 in survey of analysts compiled by Bloomberg.Nonfarm productivity rose by 0.8% in Q1 after a downwardly revised 1.6% increase in Q4, above expectations for a 0.6% gain in a survey compiled by Bloomberg as of 7:40 am ET, data released by the Bureau of Labor Statistics showed.Construction spending data for February and March will be released at 10 am ET, followed by weekly natural gas stocks at 10:30 am ET.The consumer credit data for March posts at 3 pm ET.Minneapolis Fed President Neel Kashkari and New York Fed President John Williams are slated to speak on Thursday.In premarket activity, bitcoin was down by 0.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.8% lower, Ether ETF (EETH) retreated 1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.3%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was inactive.MDA Space (MDA) stock was up more than 8% before the opening bell after the company reported higher Q1 adjusted earnings and revenue.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.1%, the Vanguard Health Care Index Fund (VHT) retreated 0.3%, while the iShares US Healthcare ETF (IYH) slipped 1.5%. The iShares Biotechnology ETF (IBB) was 0.8% higher.Viatris (VTRS) stock was down more than 3% premarket after gaining 2.8% at the prior close. The company reported higher Q1 financial results and reaffirmed its 2026 guidance.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% higher.Carlyle (CG) shares were down more than 3% pre-bell after the company reported lower Q1 after-tax distributable earnings and revenue.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.01%, and the iShares US Technology ETF (IYW) was 0.03% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 0.03%, while the iShares Semiconductor ETF (SOXX) rose by 0.4%.Alphabet (GOOG, GOOGL) shares were up more than 2% in premarket activity after closing the prior session with a 2.8% rise. Bloomberg reported that Google has proposed changes to how it shows news results in its search engine to avoid further EU competition fines.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.3%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.03%, while the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.7%. The VanEck Retail ETF (RTH) was 0.6% higher, while the State Street SPDR S&P Retail ETF (XRT) retreated by 0.3%.Tesla (TSLA) shares were up more than 1% pre-bell after Reuters reported the EV maker's China-made electric vehicle sales rose for a sixth consecutive month on a year-over-year basis.EnergyThe iShares US Energy ETF (IYE) was down 0.9%, while the State Street Energy Select Sector SPDR ETF (XLE) was 1.1% lower.Shell (SHEL) stock was down more than 1% before the opening bell after the company reported lower-than-expected Q1 revenue.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 3.3% to $91.97 per barrel on the New York Mercantile Exchange. Natural gas was down by 1% at $2.70 per 1 million British Thermal Units. The United States Oil Fund (USO) fell by 3.3%, while the United States Natural Gas Fund (UNG) was 0.3% lower.Gold futures for May gained by 1.2% to reach $4,748.30 an ounce on the Comex. Silver futures advanced by 5.4% to $81.44 an ounce. SPDR Gold Shares (GLD) was 1% higher, and the iShares Silver Trust (SLV) rose by 4.7%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$CG$EEM$EETH$EXI$FAS$FAZ$GLD$GOOG$GOOGL$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$MDA$PMR$QQQ$RTH$SHEL$SLV$SOXX$SPY$TSLA$UNG$USO$VDC$VHT$VIS$VRTS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Japan

Peace Agreement Hopes, Strong Earnings Nudge US Equity Futures Higher Pre-Bell

US equity futures were marginally higher pre-bell Thursday as hopes for a finalized peace deal between US and Iran continue, on top of a strong earnings season to date.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.1% higher.A final peace agreement would end the conflict and reopen the Strait of Hormuz, President Donald Trump said in a Truth Social post on Wednesday. The White House had said it is nearing an agreement with Iran that would end the war and establish a framework for more detailed nuclear negotiations, according to an Axios report.However, Trump said Iran's acceptance of the US proposal would be "perhaps, a big assumption," and warned that bombing would resume "at a much higher level and intensity than it was before" if an agreement was not reached. An Iranian foreign ministry spokesperson told CNBC on Wednesday that Iran was evaluating the proposal.Traders absorbed the most recent round of earnings, with Shell (SHEL) and McDonald's (MCD) posting higher Q1 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3% at $98.25 per barrel and US West Texas Intermediate crude 3.2% lower at $92.02 per barrel.The weekly jobless claims bulletin, scheduled for release at 8:30 am ET, is expected to show 205,000 new unemployment claims for the week ended May 2, compared with 189,000 in the prior week, according to estimates compiled by Bloomberg. The Q1 nonfarm productivity report is expected to show an annual gain of 0.6% after a 1.8% increase in the prior quarter. Unit labor costs are projected to rise 2.5%, compared with 4.4% previously.The February and March construction spending reports are due at 10 am ET.Federal Reserve Minneapolis President Neel Kashkari, Cleveland President Beth Hammack, and New York President John Williams are slated to speak on Thursday.

Dow JonesNasdaq CompositeS&P 500$MCD$SHEL
Research

Research Alert: CFRA Maintains Hold Opinion On Shares Of Shell Plc

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target price for Shell to USD93 (from USD84) due to higher earnings forecast and based on a 2026 P/E of 10.2x, which reflects 0.25 standard deviation below its 10-year average of 11.2x, given Shell's large scale of integrated operation with its downstream division being able to partially cushion the impact of potentially lower crude oil prices in 2027. Shell's Q1 2026 adjusted net profit of USD6.9B (+24% Y/Y) was within market expectations but above ours, coming in at 26% of the consensus' 2026 estimates and 38% of our forecast. Hence, we revise upwards our EPS forecasts to USD9.10 (USD6.11) for 2026 and USD8.19 (USD6.29) for 2027 on higher crude oil and gas price assumptions but maintain production estimates. Our rating is maintained at Hold as we expect continued share price consolidation following the recent crude oil price rebound, which benefited from the stock's fairly strong positive correlation to Brent oil prices.

$SHEL
Research

Research Alert: Shell: Q1 2026 Net Profit Meets Consensus View; Guides For Lower Gas Output

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Shell's Q1 2026 adjusted net profit of USD6.9B (+24% Y/Y) was within market expectations but above our forecast, doubling sequentially from USD3.3B in Q4 2025 due to volatile energy markets from the Middle East conflict that caused Brent crude to reach USD81/bbl (+27% from Q4). We have reservations about the sustainability of these results given the exceptional trading conditions rather than operational improvements, with broad-based earnings led by Chemicals & Products swinging to USD1.9B profit from a USD66M loss as refinery utilization surged to 99%. Q2 2026 guidance signals significant disruptions, with Integrated Gas production forecast to be down 30%-36% and LNG volumes declining 9%-14% due to conflict impacts, including on its Qatar operations. Balance sheet deteriorated materially, with net debt rising to USD52.6B and gearing to 23%, while a USD11.2B working capital outflow, including USD6.7B inventory increases, raises concerns about potential reversals if commodity prices normalize, in our view.

$SHEL
Research

Research Alert: Shell: Q1 2026 Net Profit Meets Consensus View; Guides For Lower Gas Output

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Shell's Q1 2026 adjusted net profit of USD6.9B (+24% Y/Y) was within market expectations but above our forecast, doubling sequentially from USD3.3B in Q4 2025 due to volatile energy markets from the Middle East conflict that caused Brent crude to reach USD81/bbl (+27% from Q4). We have reservations about the sustainability of these results given the exceptional trading conditions rather than operational improvements, with broad-based earnings led by Chemicals & Products swinging to USD1.9B profit from a USD66M loss as refinery utilization surged to 99%. Q2 2026 guidance signals significant disruptions, with Integrated Gas production forecast to be down 30%-36% and LNG volumes declining 9%-14% due to conflict impacts, including on its Qatar operations. Balance sheet deteriorated materially, with net debt rising to USD52.6B and gearing to 23%, while a USD11.2B working capital outflow, including USD6.7B inventory increases, raises concerns about potential reversals if commodity prices normalize, in our view.

$SHEL
Commodities

Shell Upstream Production Slips in Q1, Refinery Usage Intensifies due to Lighter Maintenance Schedule

Shell's (SHEL) total production in upstream segment available for sale in Q1 slipped to 1.84 million barrels of oil equivalent per day, down from 1.86 mmboe/d in Q1, 2025, it said in an earnings statement on Thursday.Natural gas production available for sale in Q1 was 2.88 billion standard cubic feet per day, down from 3.02 billion.Liquids production available for sale rose to 1.35 million barrels per day in the quarter, up from 1.34 mmbbl/d in the same quarter a year prior.Natural gas production available for sale in Q1 fell to 4.61 million standard cubic feet per day in the integrated gas segment, down from 4.64 mmscf/d a year earlier and falling from 4,760 in Q4 2025.Gas liquefaction volumes rose to 7.86 million metric tons in Q1, up from 6.60 million in the same quarter of 2025. LNG sales rose strongly year over year, to 19.16 million metric tons, up from 16.49 million.The company said that oil and gas production fell 4% compared with Q4 2025, due to the impact of the Middle East conflict on volumes it produced in Qatar.The 1% increase it achieved in LNG liquefaction volumes was mainly due to a rampup at LNG Canada, partly offset by bad weather in Australia.Refinery utilization was 99%, up from 95% in Q4, 2025, an increase that reflected lower maintenance activity in Q1.Chemicals manufacturing plant capacity usage was 85%, up from 76% in Q4, also reflecting less intense planned and unplanned maintenance work.The company expects integrated gas production of 580,000 to 640,000 barrels of oil equivalent in Q2 while LNG liquefaction volumes are seen in a range of 6.8 million to 7.4 million tonnes, with a more intense maintenance schedule expected in Q2.Upstream production is seen in the range of 1.62 million to 1.82 million barrels of oil equivalent. Refinery capacity utilization is forecast in a range between 91% and 99%, Shell said.Chemicals manufacturing plant capacity usage is expected to be between 76% and 84%.

$SHEL
Equities

Shell Q1 Adjusted Earnings, Revenue Rise

Shell (SHEL) reported Q1 adjusted earnings Thursday of $1.22 per share, up from $0.92 a year earlier.Analysts polled by FactSet expected $1.04.Revenue for the quarter ended March 31 was $69.69 billion, up from $69.23 billion a year ago.Analysts surveyed by FactSet expected $81.4 billion.The company also launched a $3 billion share repurchase program and increased its quarterly interim dividend by 5% to $0.3906, payable June 29 to holders on record as of May 22.

$SHEL
Asia Markets

European Equities Traded in the US as American Depositary Receipts Climb Sharply Higher in Wednesday Trading

European equities traded in the US as American depositary receipts were tracking higher late Wednesday morning, rising 1.98% to 1,843.18 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by accommodations booking company trivago (TRVG) and lender ING Group (ING), which advanced 14% and 5% respectively. They were followed by biopharmaceutical company Cellectis (CLLS) and lender Banco Santander (SAN), which climbed 4.8% and 4.2% respectively.The decliners from continental Europe were led by internet advertising firm Criteo (CRTO) and petroleum refiner Equinor (EQNR), which shed 18% and 8.4% respectively. They were followed by semiconductor company Sequans Communications (SQNS) and oil and gas company Eni (E), which dropped 5.8% and 4.5% respectively.The gainers from the UK were led by biopharmaceutical company Akari Therapeutics (AKTX) and insurance company Prudential (PUK), which rose 9.4% and 6.2% respectively. They were followed by mining company BHP Group (BHP) and lender Barclays (BCS), which were up 5.3% and 5.2% respectively.The decliners from the UK and Ireland were led by biopharmaceutical companies Mereo BioPharma Group (MREO) and NuCana (NCNA), which fell 5.1% and 4% respectively. They were followed by oil and gas companies BP (BP) and Shell (SHEL), which lost 3.7% and 2.7% respectively.

$AKTX$BCS$BHP$BP$CLLS$CRTO$E$EQNR$ING$MREO$NCNA$PUK$SAN$SHEL$SQNS$TRVG
Sectors

Sector Update: Energy Stocks Higher Late Afternoon

Energy stocks were rising late Tuesday afternoon, with the NYSE Energy Sector Index adding 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.2%.The Philadelphia Oil Service Sector Index was decreasing 0.5%, and the Dow Jones US Utilities Index was up 0.1%.Crude oil futures slumped after Defense Secretary Pete Hegseth said the ceasefire agreement with Iran remains in force. Hegseth, speaking at a Tuesday morning press conference, said the Iran ceasefire remains in effect while promising to continue to press ahead with opening the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows.Front-month West Texas Intermediate crude oil declined 3.5% to $102.69 a barrel, and the global benchmark Brent crude contract dropped 3.8% to $110.11 a barrel. Henry Hub natural gas futures fell 3.5% to $2.77 per 1 million BTU.In corporate news, Shell (SHEL) and Ineos Energy have agreed to jointly invest in oil and gas exploration and development opportunities in the Gulf of Mexico, Ineos Energy said. Shell shares rose 0.5%.Diamondback Energy (FANG) said operators may add 20 to 30 oil rigs in the US Permian Basin this year as elevated crude prices and supply disruptions tied to the Middle East conflict support higher activity. Diamondback shares were down 3.2%.GE Vernova (GEV) and Blue Energy are planning to develop a 2.5 gigawatt power facility in Texas that will combine nuclear and natural gas, the companies said Tuesday. GE Vernova shares added 2%.Enlight Renewable Energy (ENLT) shares climbed 2.8% after it reported higher-than-expected Q1 earnings and revenue.

$ENLT$FANG$GEV$SHEL
Sectors

Sector Update: Energy

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.6%.The Philadelphia Oil Service Sector Index was decreasing 0.2%, and the Dow Jones US Utilities Index was up 0.6%.Front-month West Texas Intermediate crude oil declined 3.7% to $102.45 a barrel, and the global benchmark Brent crude contract dropped 4% to $109.92 a barrel. Henry Hub natural gas futures fell 2.6% to $2.79 per 1 million BTU.In corporate news, Shell (SHEL) and Ineos Energy have agreed to jointly invest in oil and gas exploration and development opportunities in the Gulf of Mexico, Ineos Energy said. Shell shares rose 0.7%.

$SHEL
Commodities

INEOS Energy and Shell Expand Gulf of Mexico Exploration Partnership

INEOS Energy said on Tuesday that it has acquired a 21% stake in Gulf of Mexico assets operated by Shell (SHEL), partnering on three key exploration projects near the Appomattox platform to drive disciplined offshore growth.This stake adds to INEOS's existing assets in the Appomattox and Rydberg fields, the Nashville discovery, and the Mattox pipeline, the company said.The partnership initially targets three high-priority projects including the pre-FID Fort Sumter discovery, the drilling of the Sisco exploration well, and a third exploration well slated for completion by 2030, it added."We are focusing on areas close to existing infrastructure where we can move quickly, control costs and unlock new production," said David Bucknall, INEOS CEO.

$SHEL

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