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Shell plc

$SHEL
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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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Commodities

Sinopec Launches Low-Carbon Energy Initiative With Kazakhstan Partners

Sinopec joined partners in Kazakhstan to launch a low-carbon energy initiative focused on carbon capture, utilization and storage, the company announced Friday.At the 2026 International CCUS Technology Conference on Sept. 1 and 2, Sinopec joined Kazakhstan's Ministry of Energy and the Institute of New Materials and Energy Technologies at Nazarbayev University to launch the cooperation initiative.The program will promote collaboration on CCUS technologies and standards while encouraging greater knowledge sharing among industry professionals.More than 230 participants from China, Kazakhstan, the UK, the US, and Canada discussed carbon dioxide capture, geological storage, mineralization, and CCUS hubs.Tian Hongbin, vice president of Sinopec Group, said CCUS has become critical to global climate efforts, with Sinopec backing ICTO's growth and broader international cooperation across the sector.Sinopec operates China's first 100-kilometer dense-phase carbon dioxide pipeline and a CCUS demonstration project with an annual capacity of 1 million metric tons.The company is studying a 10-million-metric-ton open-access CCUS cluster with Shell (SHEL), BASF, and China Baowu and preparing a 1-million-metric-ton project at Shengli Oilfield.Price: $93.15, Change: $+0.82, Percent Change: +0.89%

$SHEL
Sectors

Sector Update: Energy Stocks Lower in Afternoon Trading

Energy stocks declined Friday afternoon, with the NYSE Energy Sector Index decreasing 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.8%.The Philadelphia Oil Service Sector Index was falling 1.5%, and the Dow Jones US Utilities Index was 0.4% lower.Front-month West Texas Intermediate crude oil shed 0.4% to $90.97 a barrel, and the global benchmark Brent crude contract rose 0.2% to $95.74 a barrel. Henry Hub natural gas futures added 1.6% to $2.96 per 1 million BTU.In corporate news, Shell (SHEL) and Equinor's (EQNR) Jackdaw gas field in the North Sea is expected to receive UK government approval for new drilling this month, news outlets reported Friday. Separately, Morgan Stanley upgraded Shell to overweight from equalweight and lifted its price target to $101.30 from $81.60. Shell shares were up 1%, while Equinor was shedding 1.2%.TotalEnergies (TTE) shares were down 0.8% after Morgan Stanley downgraded the stock to equalweight from overweight.Dominion Energy (D) shareholders have given consent to the company to proceed with the planned merger with NextEra Energy (NEE), according to regulatory filings Thursday. Dominion shares were shedding 0.5%, and NextEra was down 0.8%.

$D$EQNR$NEE$SHEL$TTE
Sectors

Sector Update: Energy

Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index decreasing 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.8%.The Philadelphia Oil Service Sector Index was falling 1.5%, and the Dow Jones US Utilities Index was fractionally lower.Front-month West Texas Intermediate crude oil shed 0.4% to $90.97 a barrel, and the global benchmark Brent crude contract rose 0.3% to $95.77 a barrel. Henry Hub natural gas futures added 1.3% to $2.95 per 1 million BTU.In corporate news, Shell (SHEL) and Equinor's (EQNR) Jackdaw gas field in the North Sea is expected to receive UK government approval for new drilling this month, news outlets reported Friday. Shell shares were up 1.1%, and Equinor was shedding 0.9%.

$EQNR$SHEL
Wire

Shell, Equinor's Jackdaw Gas Field Reportedly Expected to Get UK Drilling Approval

Shell (SHEL) and Equinor's (EQNR) Jackdaw gas field in the North Sea is expected to receive UK government approval for new drilling this month, news outlets reported Friday.Approval for the project, off the coast of Aberdeen, may come as soon as mid-September, just before Parliament breaks for party conferences, the BBC reported, citing government and industry sources.Energy Secretary Miatta Fahnbulleh is expected to approve Jackdaw with a decision on Rosebank, a separate oilfield, anticipated later, the Financial Times reported, citing people familiar with the matter"We do not comment on speculation," a spokesperson from the government's Department for Energy Security and Net Zero said in an emailed statement to. "The North Sea remains a vital national asset and oil and gas will continue to play an important role in our energy system for decades to come, alongside transitioning to clean power to protect jobs and tackle the climate crisis.""Any decision will take into account all relevant evidence, including environmental assessments and public representations received during the consultation process," the statement said.Shell and Equinor didn't immediately respond to requests for comment.Shell shares rose 0.8% in Friday trading, and Equinor fell 0.8%.Price: $93.09, Change: $+0.76, Percent Change: +0.82%

$EQNR$SHEL
Asia Markets

European Equities Traded in the US as American Depositary Receipts Marginally Higher in Friday Trading

European equities traded in the US as American depositary receipts were marginally higher late Friday morning, rising 0.08% to 1,976.36 on the S&P Europe Select ADR Index, which was up about 0.9% for the week so far.From continental Europe, the gainers were led by telecommunications company Nokia (NOK) and 3D printer company Materialise (MTLS), which rose 2% and 1.6%, respectively. They were followed by biotech firm BioNTech (BNTX), which gained 0.8%.The decliners from continental Europe were led by accommodations booking site trivago (TRVG) and oil and gas company Eni (E), which dropped 3.1% and 2.2%, respectively. They were followed by pharmaceutical company Novo Nordisk (NVO) and biopharmaceutical company DBV Technologies (DBVT), which were down 2.1% and 1.7%, respectively.The gainers from the UK were led by telecommunications operator Vodafone Group (VOD) and oil and gas company Shell (SHEL), which advanced 2.2% and 0.9%, respectively. They were followed by oil and gas company BP (BP) and medical device maker Smith & Nephew (SNN), which were up 0.7% and 0.6%, respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Mereo BioPharma Group (MREO) and biotech firm Trinity Biotech (TRIB), which lost 4.5% and 3%, respectively. They were followed by software firm Endava (DAVA) and communications company WPP (WPP), which fell 2.6% and 2.2%, respectively.

$BNTX$BP$DBVT$E$EVAX$MREO$MTLS$NOK$NVO$SHEL$SNN$TRIB$TRVG$VOD
Commodities

UK Reportedly Close to Approving Jackdaw Field; Rosebank Decision to Come Later

The UK government is expected to grant approval to the Jackdaw gas field in the North Sea this month, and may greenlight the Rosebank oil field later this year, media outlets reported Friday, citing sources.Energy Secretary Miatta Fahnbulleh is set to give her go-ahead to the Jackdaw field in Aberdeen as soon as next week, while a formal approval could follow a week later, The Guardian reported.The gas field could start production as early as this winter if the approval is given as expected, the Financial Times said, although this could be opposed by climate and environmental groups.The Rosebank project, which is still under environmental assessment, may also gather opposition if approved. A decision on the UK's largest undeveloped oil field is likely to be given later this year, sources told The Guardian.Environmental campaigners cited by the news agency said operating the fields could produce as much as 336 billion British pounds ($453.94 billion) in carbon pollution damages.Adura, a joint venture between Shell (SHEL) and Equinor (EQNR), is the developer of the Jackdaw and Rosebank fields. It received development consent for the projects in 2022 and 2023, respectively, but had to reapply for authorization following a 2025 court ruling favoring climate activists.The UK's energy department did not immediately respond to' request for comment.Price: $92.54, Change: $+0.21, Percent Change: +0.23%

$EQNR$SHEL
Research

Morgan Stanley Upgrades Shell to Overweight From Equalweight, PT to $101.30 from $81.60

Shell (SHEL) has an average rating of overweight and mean price target of $102.28, according to analysts polled by FactSet.

$SHEL
Oil & Energy

Ghana, Shell, Chevron Sign Deal to Advance South Deepwater Tano Exploration

Ghana has signed a memorandum of understanding with Shell (SHEL), Chevron (CVX) and state-owned petroleum entities to advance exploration and appraisal work on the South Deepwater Tano block, Ghana National Petroleum said in a social media post on Thursday.The block, located offshore, is estimated to hold over 3 billion barrels of hydrocarbon potential, according to Ghana National Petroleum, also known as the GNPC.The agreement brings together the Government of Ghana, GNPC Ghana, GNPC Explorco, Shell Overseas Holdings and Chevron Sub-Saharan Africa Ventures.The block covers about 3,482 square kilometers in the deep-to-ultra-deepwater Tano Basin off Ghana's Western Region, with water depths reaching nearly 3.5 kilometers. The conditions are expected to make exploration technically complex and capital-intensive, African Economy Inc. reported.South Deepwater Tano already contains a confirmed oil discovery. AGM Petroleum drilled the Nyankom-1X well in 2019, encountering oil in two reservoirs, before relinquishing its interest in the block in 2023.Under the new framework, Shell, Chevron, GNPC and GNPC Explorco will undertake further appraisal of the discovery and assess the block's broader oil and gas potential. The MoU provides for additional technical and commercial evaluation ahead of any decision on development.The agreement reportedly comes as Ghana seeks to attract fresh investment into its upstream petroleum sector and expand exploration across prospective offshore areas. Oil and gas remain important sources of export earnings, government revenue and foreign investment.Price: $93.07, Change: $+0.27, Percent Change: +0.29%

$CVX$SHEL
Sectors

Sector Update: Energy Stocks Rise Pre-Bell Thursday

Energy stocks were rising pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.6%.The United States Oil Fund (USO) was up 0.8% and the United States Natural Gas Fund (UNG) was 0.1% higher.Front-month US West Texas Intermediate crude oil was 0.9% higher at $91.84 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.6% to $96.22 per barrel, and natural gas futures were up 1.3% at $2.99 per 1 million British Thermal Units.Diversified Energy (DEC) has agreed to acquire Birch Permian and affiliates for a gross purchase price of about $1.8 billion, the company said. Diversified Energy shares were up more than 1% premarket.GeoPark (GPRK) has made a strategic entry into Venezuela through the acquisition of the Bare Block, a large producing asset in the Orinoco heavy-oil belt, the company said. GeoPark stock was up more than 7% pre-bell.Shell (SHEL) has completed its acquisition of ARC Resources after receiving all required shareholder, court and regulatory approvals, the company said. Shares of Shell were 0.1% lower premarket.

$DEC$GPRK$SHEL$UNG$USO$XLE
Commodities

Shell Completes Acquisition of Canadian Producer ARC Resources

UK's energy giant Shell (SHEL) has completed its acquisition of Canadian energy producer ARC Resources following the receipt of all necessary shareholder, court, and regulatory approvals, the company said on Wednesday.The transaction immediately adds about 370,000 barrels of oil equivalent per day across liquids and natural gas, supporting Shell's strategy to achieve a production compound annual growth rate of around 4% through 2030 compared to 2025 baselines, according to Shell.CEO Wael Sawan noted that the deal increases Shell's exposure to long-duration, low-cost liquids production while integrating ARC's technical expertise in the Montney basin of British Columbia and Alberta.Shell expects the integration to generate double-digit returns and be accretive to free cash flow per share starting in 2027.

$SHEL
Equities

Shell Completes $16.5 Billion Acquisition of ARC Resources

Shell (SHEL) has completed its acquisition of ARC Resources after receiving all required shareholder, court and regulatory approvals, the company said late Wednesday.The deal adds approximately 370,000 barrels of oil equivalent per day in liquids and gas production, it said.ARC shareholders received 8.20 Canadian dollars ($5.94) in cash and 0.40247 Shell shares per ARC share, it said. The transaction values ARC's equity at approximately $13.9 billion and enterprise value at $16.5 billion, including $2.5 billion of assumed net debt and leases, it added.The company said it expects the deal to generate double-digit returns and be accretive to free cash flow beginning in 2027.

$SHEL
Commodities

BP Agrees to Sell Stakes in Brazil, Gulf of Mexico Exploration Assets to Shell

BP (BP) agreed to sell stakes in two offshore oil and gas exploration projects in Brazil and the Gulf of Mexico to Shell (SHEL), as the British energy company seeks to streamline its portfolio, the company said in a statement on Wednesday.Shell Brasil Petroleo will acquire a 50% stake in the Tupinamba exploration block in Brazil's Santos Basin, while Shell Offshore will acquire a 30% stake in five leases containing the Conifer exploration prospect in the deepwater Gulf of Mexico.BP will retain a 50% stake in Tupinamba and a 70% stake in Conifer and will remain operator of both projects.The Tupinamba exploration well is expected to begin drilling soon, while the Conifer well is expected to be drilled in 2027, BP said.BP was awarded the Tupinamba block in December 2023 under Brazil's second cycle of the Production Sharing Permanent Offer. Pre-Sal Petroleo, a state-owned company, will continue to manage the production-sharing contract on behalf of the Brazilian federal government.BP was awarded four of the leases covering Conifer in August 2023 in the US Gulf of Mexico's Lease Sale 259. The fifth lease was awarded in February 2026 in the BBG-1 Lease Sale. Shell Offshore will acquire a stake in all five leases.Gordon Birrell, BP's executive vice president for upstream, said Brazil and the Gulf of Mexico are important regions for BP, and bringing together two experienced operators could help unlock the potential of both opportunities.Completion of the Tupinamba transaction remains subject to regulatory approval.

$BP$SHEL
Sectors

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 1.7% and the State Street Energy Select Sector SPDR ETF (XLE) up 1.2%.The Philadelphia Oil Service Sector Index increased 0.4%, and the Dow Jones US Utilities Index was up 0.7%.In geopolitical news, the US military launched fresh attacks on Iran, striking Islamic Revolutionary Guard Corps targets, the US Central Command said Tuesday in a post on social media platform X. Washington is striking "Iranian targets" near the Strait of Hormuz, US President Donald Trump said Tuesday. "If the failed nation of Iran retaliates for this very justified attack, they will be hit again at a much harder and higher level," Trump said in a social media post. The latest US military actions came a day after Iran reportedly attacked US bases in Jordan and the United Arab Emirates, in retaliation for Washington striking Iranian rocket launchers on Tehran's Larak Island.Front-month West Texas Intermediate crude oil jumped 5.4% to $90.39 a barrel, and the global benchmark Brent crude contract surged nearly 5% to $94.98 a barrel. Henry Hub natural gas futures rose 0.2% to $2.94 per 1 million BTU.In corporate news, Shell's (SHEL) Equilon Enterprises has signed an agreement to increase its equity in Tri Star Energy to 100% from 33%, the company said Tuesday. With the acquisition, Shell will become the full owner of an additional 320 fuel and convenience retail sites across the southeastern US. Shell shares rose 2.2%.Comstock Resources (CRK) shares jumped 11% after the company said it entered into a letter of intent under which the State Oil Co. of the Azerbaijan Republic, or SOCAR, would acquire interests in some of its Haynesville assets for $1.65 billion in cash.Chevron (CVX) is finalizing a deal for the operating rights to two giant oil fields in Venezuela's Orinoco Belt, Bloomberg reported. Chevron shares rose 2.1%.ExxonMobil (XOM) is among several major oil companies planning to pursue business in Venezuela, multiple news outlets including Reuters reported late Monday, citing comments made by US President Donald Trump at a press event in the Oval Office. Trump said ExxonMobil and Chevron are among companies preparing to bid for projects in the Venezuelan market, while other firms are also competing, the Reuters report said. ExxonMobil shares were up 2.1%.Fervo Energy (FRVO) shares surged 28% after the company said Tuesday it has signed a 396-megawatt power purchase agreement with Alphabet's (GOOGL) Google.

$CRK$CVX$FRVO$SHEL$XOM
Commodities

Shell to Acquire Full Ownership of Tri Star Energy in US Convenience Retail Expansion

Shell Oil Products US, a unit of Shell (SHEL), has agreed to acquire the remaining 67% stake in Tri Star Energy, Shell said in a statement on Tuesday.With this, Shell Oil Products US will take full ownership of the Nashville-based convenience store operator and fuel distributor in a deal that will expand Shell's company-owned retail footprint across the southeastern US.Shell currently owns a 33% interest in Tri Star. The transaction will give the energy major control of an additional 320 fuel and convenience retail sites in Tennessee and surrounding states, while adding supply agreements covering 552 dealer-owned locations.The acquisition is part of Shell's broader strategy to concentrate capital on businesses and markets where it has competitive advantages and can generate attractive returns.Shell said the investment is expected to deliver an internal rate of return above the hurdle rate for its marketing business.Shell already operates the largest branded fuel network in the US, with about 12,000 fuel and convenience retail locations, primarily wholesaler- and dealer-owned, across 49 states. The network serves over 7 million customers a day.The Tri Star transaction will significantly increase Shell's directly owned presence in the US. Upon closing, Tri Star will be operated by Texas Petroleum, a wholly owned subsidiary of Shell Mobility & Convenience US.Shell said its US Mobility & Convenience portfolio will then comprise almost 550 company-owned convenience retail sites and supply agreements with about 650 dealer-owned locations across the southern US.The deal also advances a capital-allocation strategy outlined at Shell's 2025 Capital Markets Day, when the company said it would shift investment away from lower-return activities toward businesses and markets where it has demonstrated stronger performance.Shell has said 80% of growth cash capital expenditure in its Mobility & Convenience business will be directed to 10 key markets, including the US, where the company generates the majority of its cash flow.Shell is acquiring the remaining Tri Star interest from Parman, Kimbro Oil, and their respective subsidiaries.The transaction is expected to close by the end of 2026, subject to regulatory approvals and other customary closing conditions.Globally, Shell and its affiliates serve about 29 million customers each day at Shell-branded mobility sites, offering fuel, electric-vehicle charging, convenience products and other services.Price: $93.59, Change: $+2.13, Percent Change: +2.33%

$SHEL
Wire

Shell to Acquire Remaining Stake in Tri Star Energy

Shell's (SHEL) Equilon Enterprises has signed an agreement to increase its equity in Tri Star Energy to 100% from 33%, the company said Tuesday.With the acquisition, Shell will become the full owner of an additional 320 fuel and convenience retail sites across the southeastern US.Financial terms of the deal, which is expected to close by the end of the year, were not disclosed.Price: $93.66, Change: $+2.21, Percent Change: +2.42%

$SHEL
Wire

Shell to Acquire Remaining Stake in Tri Star Energy

Shell to Acquire Remaining Stake in Tri Star Energy

$SHEL
Wire

Update: Market Chatter: Trump to Host Oil Company Executives on Tuesday

(Updates with White House comment in last paragraph.)President Donald Trump is expected to host executives of oil refining companies on Tuesday, Reuters reported Monday, citing people familiar with the plans.The companies received invitations last week that were light on details, and they were not told who else would attend, the report said."President Trump is laser-focused on ensuring his successful energy dominance agenda translates into the most cost savings possible at the pump for consumers," White House spokeswoman Taylor Rogers said in an email to. "As part of that commitment, the president will meet with industry leaders to collaborate on the best ways to increase refining capacity, further unleash American energy dominance across the entire supply chain, and bring down prices for the American people."(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: $160.22, Change: $+3.51, Percent Change: +2.24%

$BP$CVX$SHEL$TTE$XOM
Asia Markets

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

European equities traded in the US as American depositary receipts opened the week slightly lower late Monday morning, declining 0.12% to 1,952.52 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by pharmaceutical company Ascendis Pharma (ASND) and 3D printer company Materialise (MTLS), which rose 6.6% and 2.8%, respectively. They were followed by petroleum refiner Equinor (EQNR) and oil and gas company Eni (E), which were up 2.7% and 2.6%, respectively.The decliners from continental Europe were led by internet browser company Opera (OPRA) and biotech firm Evaxion (EVAX), which fell 1.9% and 1.7% respectively. They were followed by telecommunications company Nokia (NOK) and accommodations booking site trivago (TRVG), which were down 1.3% and 1.2% respectively.The gainers from the UK were led by biopharmaceutical company Mereo BioPharma Group (MREO) and software firm Endava (DAVA), which advanced 14% and 1.9% respectively. They were followed by oil and gas companies BP (BP) and Shell (SHEL), which increased 1.3% and 0.9% respectively.The decliners from the UK and Ireland were led by biopharmaceutical companies NuCana (NCNA) and Biodexa Pharmaceuticals (BDRX), which dropped 16% and 5.9% respectively. They were followed by biopharmaceutical company Akari Therapeutics (AKTX) and pharmaceutical company Silence Therapeutics (SLN), which increased 3.7% and 2.3% respectively.

$AKTX$ASND$BDRX$BP$DAVA$E$EQNR$EVAX$MREO$MTLS$NCNA$NOK$OPRA$SHEL$SLN$TRVG
Wire

Market Chatter: Trump to Host Oil Company Executives on Tuesday

President Donald Trump is expected to host executives of oil refining companies on Tuesday, Reuters reported Monday, citing people familiar with the plans.The companies received invitations last week that were light on details, and they were not informed who else would be in attendance, the report said, citing the people.The White House didn't immediately reply 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: $160.70, Change: $+3.99, Percent Change: +2.55%

$BP$CVX$SHEL$TTE$XOM
Wire

Trump to Host Oil Company Executives on Tuesday, Reuters Reports

Trump to Host Oil Company Executives on Tuesday, Reuters Reports

$BP$CVX$SHEL$TTE$XOM

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