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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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Asia Markets

Update: US Equity Futures Slightly Lower Pre-Bell as US, Iran Resume Hostilities in Middle East

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging slightly lower pre-bell Monday as the US and Iran resumed hostilities for the first time since late July, raising oil prices and dampening hopes for an early resolution of the conflict between the two nations.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.2% lower.US forces on Sunday struck two rocket launchers on Iran's Larak Island, US Central Command told MS Now. Iran responded by attacking US bases in Jordan, Iranian state media reported.President Donald Trump posted on Truth Social an AI-generated video clip that he said showed Iran's oil hub Kharg Island being "blown to smithereens."Expected to report financial results this week are Dell Technologies (DELL), Palo Alto Networks (PANW), Medtronic (MDT), Broadcom (AVGO), Snowflake (SNOW), and Hewlett Packard Enterprise (HPE).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 5.5% at $90.85 per barrel and US West Texas Intermediate crude 3.4% higher at $86.26 per barrel.The Dallas Fed manufacturing survey for August will be released at 10:30 am ET.In other world markets, Japan's Nikkei closed 0.1% lower, Hong Kong's Hang Seng ended 0.1% lower, and China's Shanghai Composite finished 0.9% higher. Meanwhile, Germany's DAX index was 0.6% lower in Europe's early afternoon session. The UK's FTSE 100 was closed for a public holiday.In equities, stocks of Exxon Mobil (XOM), Chevron (CVX), and Shell (SHEL) were higher as oil prices increased. Exxon Mobil shares rose 2.1%, Chevron stock was up 2.4%, and Shell (SHEL) shares were 1.3% higher.On the losing side, PG&E (PCG) stock was more than 16% lower after an ABC7 report on Sunday that the company faces continued legal exposure after California amended legislation to protect wildfire survivors' right to sue utilities for equipment-caused blazes. Pinterest (PINS) shares were down 3.2% after the company disclosed late Friday that Chief Financial Officer Julia Brau Donnelly will leave the company on Oct. 30 after three years to pursue an opportunity at a private company.

Dow JonesNasdaq CompositeS&P 500$AVGO$CVX$DELL$HPE$MDT$PANW$PCG$PINS$SHEL$SNOW$XOM
Commodities

Venezuela to Earn $209 Billion From Oil Deal With US Over 25 Years

An oil production deal between Venezuela and the US that could revive the South American country's languishing energy sector, has a duration of 25 years, said Acting President Delcy Rodriguez, in an address posted on YouTube channel FirstPost.Reuters reported that the declaration was made on Saturday.Venezuela would earn about $209.3 billion from the deal with the US or about $19 per barrel extracted, based on an illustrative price of $65 per barrel, Rodriguez said.The deal with the US will add oil production of more than 1.5 million barrels per day, while the country will produce more through separate deals with producers including Chevron (CVX), Eni (E), Shell (SHEL) and BP (BP), she said."We want to be an energy power. Big producer of oil, important gas exporter and to have a big development of petrochemicals nationally," Rodriguez said.US President Donald Trump announced the deal on Friday, offering few details other than confirming the US had secured control over more than 65 billion barrels of Venezuelan proven reserves in a partnership with the private sector, Reuters said.Despite having the world's largest proven oil reserves, the country's output has declined amid political and economic instability that has stifled investment, to about 1.25 million bpd.Reuters reported that crowds of pro-government groups gathered in the capital Caracas on Saturday to protest the presence of the US in Venezuela, while other media reported that the deal has drawn ire on all sides of the political divide.Rodriguez stressed in her declaration that Venezuela retains sovereign control and ownership over the resources.

$BP$CVX$E$SHEL
Sectors

Sector Update: Energy Stocks Mixed Late Afternoon

Energy stocks were mixed late Thursday afternoon, with the NYSE Energy Sector Index up 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) fractionally lower.The Philadelphia Oil Service Sector Index was rising 3.5%, and the Dow Jones US Utilities Index was down 0.8%.In the Middle East, about 6 million to 8 million barrels a day of crude oil are now being shipped through the Strait of Hormuz, Bloomberg reported, citing estimates from traders monitoring cargo activity. Flows slipped in July, when an onslaught of Iran's attacks on supertankers led to the breakdown of an interim ceasefire agreement between Washington and Tehran and heightened risks to navigation, the news report said, adding that flows remain at roughly half prewar levels.Meanwhile, Qatar's Foreign Ministry said Iran and Qatar discussed an agreement to implement a "joint project" to clear mines from the Strait of Hormuz as well as "efforts to reduce escalation and create appropriate conditions for dialogue," according to a report from Al Jazeera, a Middle Eastern broadcaster.Front-month West Texas Intermediate crude oil rose 2.1% to $83.93 a barrel, and the global benchmark Brent crude contract advanced 2.6% to $90.11 a barrel. Henry Hub natural gas futures added 2.3% to $2.91 per 1 million BTU.In sector news, US natural gas stocks rose by 15 billion cubic feet in the week ended Aug. 21, as expected in a survey compiled by Bloomberg and following an increase of 16 billion cubic feet in the previous week.In corporate news, Shell (SHEL) ended talks with Unimot months ago over offloading its stake in Germany's Russia-linked Schwedt refinery, Bloomberg reported. The refinery, majority-owned by Russian oil firm Rosneft, has been stuck in an ownership deadlock since 2022, the report said. Shell shares were down 0.3%.BP (BP) is in exclusive talks with Energean to sell some of its upstream oil and gas assets in Egypt, Reuters reported. BP shares were down 0.3%.Enbridge (ENB) has entered into a definitive agreement with KKR (KKR) to form a joint venture that will invest about $2.7 billion Canadian dollars ($1.94 billion) to fund the expansion of the Aspen Point and Sunrise programs on the Westcoast natural gas pipeline system, the company said Thursday. Enbridge shares declined 0.9%.Canadian Solar (CSIQ) has hired Guggenheim Securities to help it evaluate strategic options for its Recurrent Energy unit, Bloomberg reported Wednesday. Canadian Solar shares were down 0.8%.

$BP$CSIQ$ENB$SHEL
Commodities

Update: Market Chatter: Shell-Unimot Talks on Russia-Linked Refinery Collapse

(Updated with Shell comment in the fourth paragraph).Shell (SHEL) has ended years of talks with Poland's Unimot over the sale of its stake in Germany's Russia-linked Schwedt refinery, Bloomberg reported on Thursday, citing industry sources.The discussions ended several months ago, marking the latest setback in efforts to resolve the ownership of the strategic refinery, which has been caught in limbo since Germany's energy ties with Moscow deteriorated in 2022.Shell and Unimot were in advanced negotiations as recently as February, when the German government disclosed that the companies were discussing a potential transaction. Italy's Eni (E), which also holds a minority stake in PCK, has been exploring options to sell its interest.Shell owns a 37.5% stake in PCK Raffinerie, the operator of the Schwedt refinery, while Russia's Rosneft remains the majority shareholder. Shell declined to comment in response to' request.(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: $90.77, Change: $-0.34, Percent Change: -0.38%

$E$SHEL
Sectors

Sector Update: Energy

Energy stocks were slightly higher late Thursday afternoon, with the NYSE Energy Sector Index up 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) fractionally higher.The Philadelphia Oil Service Sector Index was rising 3.5%, and the Dow Jones US Utilities Index was down 0.8%.Front-month West Texas Intermediate crude oil rose 2.1% to $83.93 a barrel, and the global benchmark Brent crude contract advanced 2.6% to $90.11 a barrel. Henry Hub natural gas futures added 2.3% to $2.91 per 1 million BTU.In corporate news, Shell (SHEL) ended talks with Unimot months ago over offloading its stake in Germany's Russia-linked Schwedt refinery, Bloomberg reported. The refinery, majority-owned by Russian oil firm Rosneft, has been stuck in an ownership deadlock since 2022, the report said. Shell shares were down 0.3%.

$SHEL
Wire

Market Chatter: Shell Ends Discussions With Unimot Regarding Germany's Schwedt Refinery

Shell (SHEL) ended talks with Unimot months ago over offloading its stake in Germany's Russia-linked Schwedt refinery, Bloomberg reported Thursday, citing people familiar with the matter.The refinery, majority-owned by Russian oil firm Rosneft PJSC, has been stuck in an ownership deadlock since 2022, according to the report.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: $90.88, Change: $-0.23, Percent Change: -0.25%

$SHEL
Commodities

Market Chatter: Shell-Unimot Talks on Russia-Linked Refinery Collapse

Shell (SHEL) has ended years of talks with Poland's Unimot over the sale of its stake in Germany's Russia-linked Schwedt refinery, Bloomberg reported on Thursday, citing industry sources.The discussions ended several months ago, marking the latest setback in efforts to resolve the ownership of the strategic refinery, which has been caught in limbo since Germany's energy ties with Moscow deteriorated in 2022.Shell and Unimot were in advanced negotiations as recently as February, when the German government disclosed that the companies were discussing a potential transaction. Italy's Eni (E), which also holds a minority stake in PCK, has been exploring options to sell its interest.Shell owns a 37.5% stake in PCK Raffinerie, the operator of the Schwedt refinery, while Russia's Rosneft remains the majority shareholder. 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: $90.96, Change: $-0.16, Percent Change: -0.17%

$E$SHEL
Commodities

TotalEnergies Sheds Stake in Russian Arctic LNG 2, Holds Out for $1.3 Billion Loan Repayment

French energy giant TotalEnergies (TTE) has completed the transfer of its entire 10% stake in Arctic LNG 2 to NordLine, a subsidiary of Russia's Novatek, it said in a statement on Thursday.While no longer a shareholder in the project, TotalEnergies said it retains its rights to be reimbursed by the project owners for the loans it has contributed, summing about $1.3 billion."Such reimbursement might be implemented in the future subject to applicable sanctions," it said.Bloomberg reported that the project has been under US sanctions since late 2023 and that TotalEnergies had previously written down the value of its stake acquired in 2018, from which it has said it has taken no revenue. Bloomberg said that Shell (SHEL) and Exxon Mobil (XOM) were previously shareholders, but had exited.

$SHEL$TTE$XOM
Commodities

Equinor Expects Equity Production Outside Norway to Grow to 950,000 BOE/D by 2030

Norwegian energy major Equinor (EQNR) is on course to increase equity production outside Norway to 950,000 barrels of oil equivalent per day by 2030 and generate $20 billion of free cash flow from 2026 to 2030, Executive Vice President Philippe Mathieu said on Tuesday.In Q2, the company reported equity production outside Norway of 750,000 boe/d, a growth of over 10% in two years, despite exiting legacy investments with high-quality assets in Azerbaijan and Nigeria, the company said in a statement.During the quarter, the US accounted for equity production of 433,000 boe/d, about 100,000 boe/d more than in Q2 2024.Addressing an Offshore Northern Seas media briefing in Stavanger on Tuesday, Mathieu said the US was Equinor's largest production market outside Norway, with the company having grown its onshore natural gas position in the country.Equinor recently disclosed power investments in the US and also supports operator Shell (SHEL) in the Sparta offshore project, which is expected to start production in 2028. Equinor owns a 49% interest in the project, Mathieu said.For future growth, he highlighted the Bay du Nord project in Canada and said the company was also pursuing exploration opportunities in Brazil and Angola, with several drilling prospects expected to be tested over the next few years.In June, the company along with operator Azule Energy approved the Greater Palas, Astrea and Juno project in Angola, which is expected to start production in 2029 and unlock around 250 million barrels of resources.Meanwhile, Brazil is expected to be a key driver of Equinor's international growth toward 2030, with equity production nearing 200,000 boe/d, supported by the ramp-up of the Bacalhau field and the Raia project, which is on track for 2028 start-up. Once operational, Raia could supply about 15% of Brazil's total projected gas demand, the statement said.Last week, Equinor entered a Chevron (CVX)-operated exploration license in Namibia with a drill-ready prospect targeted for testing by year-end. It is also evaluating opportunities in Argentina and the US. "We are gradually stepping up our exploration activity to support a focused strengthening and replenishment of our international portfolio," Mathieu said.The energy supply crisis due to the ongoing Middle East conflict is making it easier for the company to consider the development of a long-stalled liquefied natural gas export plant in Tanzania, Reuters reported Tuesday, citing Mathieu.Tanzania's huge gas deposit, discovered over a decade ago, would require around $42 billion in investment as per the country's estimates. However, years of negotiations between Equinor and Tanzania over investment terms have repeatedly stalled progress, the report said.In a separate statement on Tuesday, Equinor said additional gas is being supplied to the Troll A platform in the North Sea, with the Troll Phase 3 stage 2 subsea project commencing production from Aug. 22. The project is expected to speed up an output of about 55 billion standard cubic metres of gas from the Troll West reservoir, equivalent to almost two years of France's gas demand.The Phase 3 Step 2 project was initially expected to start by year-end at an estimated cost of 12.3 billion Norwegian kroner ($1.32 billion).The Troll partnership consists of operator Equinor with a 30.55% interest, Petoro at 55.93%, Shell (SHEL) unit Norske Shell at 8.19%, TotalEnergies' (TTE) TotalEnergies EP Norge at 3.69%, and ConocoPhillips (COP) unit ConocoPhillips Skandinavia at 1.64%, the statement said.The Troll gas field holds about 40% of the Norwegian continental shelf's gas reserves and supplies around 10% of Europe's gas demand, with annual energy production equivalent to three times Norway's hydropower output, the statement said.

$COP$CVX$EQNR$SHEL$TTE
Japan

US Equity Markets Higher as Crude Oil Prices, Bond Yields Drop After US Treasury Threatens Economic Sanctions on Iran

US equity indexes ended higher Tuesday as crude oil prices and government bond yields dropped, after the US Treasury Department started a campaign to impose economic sanctions on Iran.* The Treasury is targeting aviation, shipping, technology, gold and digital assets such as cryptocurrency to choke off Iran's economy, CNN reported. The US is also threatening new sanctions on countries that refuse to cut economic ties with Tehran.* Iran pledged to fight back against expanded US sanctions aimed at isolating its economy, expressing confidence that major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks, Reuters reported.* The Conference Board's measure of consumer confidence fell to 89.4 in August from 90.2 in July, compared with expectations for no change in a survey compiled by Bloomberg.* New-home sales fell to a 607,000 annual rate in July from an upwardly revised 678,000 in June, below the 620,000 expected in a survey compiled by Bloomberg, and down 6.3% from a year ago.* October West Texas Intermediate crude oil fell $3.96 to settle at $81.05 per barrel, while October Brent crude, the global benchmark, was last seen down $4.92 at $87.25.* Moderna (MRNA) shares were up roughly 14%, the top gainer on the S&P 500, after Wolfe Research upgraded the company's stock to peer perform from underperform.* Shell (SHEL) has drawn interest from potential bidders, including ExxonMobil (XOM), LyondellBasell (LYB) and Apollo Global Management (APO), for its US chemicals assets, which could fetch up to $8 billion, the Financial Times reported Monday, citing people familiar with the matter. LyondellBasell shares were down 4%, the worst performer on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$APO$LYB$MRNA$SHEL$XOM
Sectors

Sector Update: Energy Stocks Fall Tuesday

Energy stocks fell Tuesday with the NYSE Energy Sector Index declining 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1.7%.The Philadelphia Oil Service Sector Index shed 0.6%, and the Dow Jones US Utilities Index rose 0.1%.In geopolitical news, Iran pledged to fight back against expanded US sanctions aimed at isolating its economy, expressing confidence that major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks, Reuters reported.West Texas Intermediate crude oil fell 3.2% to $82.28 a barrel, and global benchmark Brent dropped 4% to $88.53 a barrel. Henry Hub natural gas futures rose 0.3% to $2.84 per 1 million BTU.In corporate news, SLB (SLB) has received access to Venezuela's oilfield data following a contract signed between the company and the state-run Petroleos de Venezuela, Reuters reported. SLB shares declined 1.3%.Shell (SHEL) put its Aphrodite offshore gas project in Trinidad and Tobago on hold following commercial disagreements with the country's National Gas Co., Reuters reported. The shares eased 0.5%.Eni (E) is working with project partners BP (BP) and Egyptian Petroleum to reach a final investment decision in a few months regarding the major gas discovery Denise West in Egypt's Temsah concession. Eni shares fell 2.1%, and BP shed 2%.NuScale Power (SMR) shares jumped 8.2%. The company is deploying nuclear-specific AI tools from Nuclearn and NPX to support engineering and knowledge management as it advances its next-generation SMR program.

$BP$E$SHEL$SLB$SMR
Sectors

Sector Update: Energy Stocks Fall Tuesday Afternoon

Energy stocks fell Tuesday afternoon, with the NYSE Energy Sector Index down 1% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.9%.The Philadelphia Oil Service Sector Index was down 0.4%, and the Dow Jones US Utilities Index added 0.4%.In geopolitical news, Iran pledged to fight back against expanded US sanctions aimed at isolating its economy, expressing confidence that major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks, Reuters reported. Hours after the US sanctioned dozens of Chinese entities and threatened to target an unspecified "major financial institution" for its dealings with Tehran, Beijing responded by saying its relationship with Iran "should not be disrupted or undermined," Bloomberg reported. China will take "all necessary measures" to safeguard its interests, Foreign Ministry spokesperson Lin Jian was cited as saying.Front-month West Texas Intermediate crude oil fell 3.2% to $82.32 a barrel, and the global benchmark Brent crude contract dropped 4% to $88.49 a barrel. Henry Hub natural gas futures shed 0.7% to $2.76 per 1 million BTU.In corporate news, Shell (SHEL) shares were down 0.6%. The company put its Aphrodite offshore gas project in Trinidad and Tobago on hold following commercial disagreements with the country's National Gas Co., Reuters reported.Equinor (EQNR) plans to boost production outside Norway to 950,000 barrels of oil equivalent per day (boepd) by 2030, while generating $20 billion of free cash flow from 2026 to 2030, said the oil giant's Executive Vice President Philippe Mathieu on Tuesday. Equinor's production outside Norway was 750,000 boepd in Q2, up more than 10% in two years, despite exits from positions in Azerbaijan and Nigeria. Separately, Equinor sees its long-delayed Tanzania liquefied natural gas project as more attractive amid disruptions to energy flows through the Strait of Hormuz, Reuters reported Tuesday, citing the company. The $42 billion project could provide Asian customers with an alternative source of natural gas that is less exposed to Middle East geopolitical risks, the report said. Equinor shares were shedding 2.3%.Energy Transfer (ET) was Smart Insider's stock pick of the week after Chair Kelcy Warren and Director James Perry bought company shares. Energy Transfer shares were fractionally lower.

$EQNR$ET$SHEL
Sectors

Sector Update: Energy

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index decreasing 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.8%.The Philadelphia Oil Service Sector Index was down 0.3%, and the Dow Jones US Utilities Index added 0.1%.Front-month West Texas Intermediate crude oil fell 3.3% to $82.17 a barrel, and the global benchmark while the Brent crude contract dropped 3.8% to $88.70 a barrel. Henry Hub natural gas futures shed 0.7% to $2.76 per 1 million BTU.In corporate news, Shell (SHEL) shares were down 0.6%. The company put its Aphrodite offshore gas project in Trinidad and Tobago on hold following commercial disagreements with the country's National Gas Co., Reuters reported.

$SHEL
Wire

Update: Market Chatter: Shell Pauses Aphrodite Offshore Gas Project in Trinidad and Tobago

(Updates with Shell's response in the fourth paragraph.)Shell (SHEL) put its Aphrodite offshore gas project in Trinidad and Tobago on hold following commercial disagreements with the country's National Gas Company, Reuters reported Monday, citing three unnamed people familiar with the decision.According to the sources, the company suspended the development after failing to agree on terms with the state-owned firm to sell the site's expected 100 million cubic feet of daily natural gas output, the news outlet reported.The company also released a jack-up rig previously hired to drill production wells for the operation, the report said.A Shell spokesperson toldthe company is negotiating and confirmed that the rig slot for Aphrodite has been released, and that it will continue to evaluate the project schedule for other opportunities.National Gas Company did not immediately respond to' request for comment.(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: $92.46, Change: $-0.54, Percent Change: -0.58%

$SHEL
Commodities

Market Chatter: Shell Puts Trinidad Aphrodite Project on Hold After Negotiations With NGC Fail

Shell (SHEL) has decided to put on hold its Aphrodite offshore gas project in Trinidad and Tobago after failing to reach an agreement with Trinidad's National Gas Company over commercial terms, Reuters reported Monday, citing three undisclosed sources familiar with the decision.The British energy giant, which approved the project's final investment decision last year, has set the project aside for now after negotiations with NGC over the sale of about 100 million cubic feet per day of natural gas failed, the report said.Shell has released a jack-up rig contracted to drill Aphrodite's production wells, a development confirmed by Shell in a statement to Reuters. Shell said negotiations are ongoing and it will continue to review the project's overall development schedule.NGC serves as Trinidad's gas aggregator, buying from producers and providing it to downstream users. NGC did not immediately respond to' request for comment."Shell is in ongoing negotiations and confirms that the initial rig slot for Aphrodite has been released. We will continue to evaluate the overall integrated project schedule to identify opportunities to maintain the first gas schedule," a Shell spokesperson said in an emailed response to.(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: $92.33, Change: $-0.67, Percent Change: -0.72%

$SHEL
Equities

Update: Market Chatter: Shell Draws Exxon, LyondellBasell Interest in US Chemicals Assets

(Updates with ExxonMobil's response in the fourth paragraph.)Shell (SHEL) has drawn interest from potential bidders, including ExxonMobil (XOM), LyondellBasell (LYB) and Apollo Global Management (APO), for its US chemicals assets, which could fetch up to $8 billion, the Financial Times reported Monday, citing people familiar with the matter.The assets span four sites in Louisiana, Texas and Pennsylvania, including Shell's $14 billion Monaca, Pennsylvania, complex, according to the report.Potential bidders submitted nonbinding offers last month for the entire business or parts of it, the people told the publication.ExxonMobil doesn't comment on "rumors or speculation," the company said in a statement e-mailed to.Shell declined to comment, while LyondellBasell and Apollo didn't immediately respond to' requests for comment.(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.)

$APO$LYB$SHEL$XOM
Equities

Market Chatter: Shell Pauses Aphrodite Offshore Gas Project in Trinidad and Tobago

Shell (SHEL) put its Aphrodite offshore gas project in Trinidad and Tobago on hold following commercial disagreements with the country's National Gas Company, Reuters reported Monday, citing three unnamed people familiar with the decision.According to the sources, the company suspended the development after failing to agree on terms with the state-owned firm to sell the site's expected 100 million cubic feet of daily natural gas output, the news outlet reported.The company also released a jack-up rig previously hired to drill production wells for the operation, the report said.Shell and National Gas Company did not immediately respond to' request for comment.(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.)

$SHEL
Equities

Equinor Begins Supplying Gas to Troll A Platform From Phase 3 Project

Equinor (EQNR) said Tuesday it started supplying additional natural gas to the Troll A platform from the second stage of the Troll Phase 3 subsea project on Aug. 22, ahead of its year-end start date.The 12.3 billion Norwegian kroner ($1.32 billion) project accelerates the extraction of 55 billion standard cubic meters of gas from the Troll West reservoir, the company said.A drilling campaign of eight wells was completed in five and a half months for the development, Equinor said.Petoro holds a 55.93% stake in the partnership, while operator Equinor owns 30.55%, Shell (SHEL) holds 8.19%, TotalEnergies (TTE) maintains 3.69%, and ConocoPhillips (COP) has 1.64%, it said.

$COP$EQNR$SHEL$TTE
Sectors

Sector Update: Energy Stocks Decline Monday

Energy stocks fell Monday with the NYSE Energy Sector Index dropping 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) declining 0.8%.The Philadelphia Oil Service Sector Index fell 2%, and the Dow Jones US Utilities Index rose 1.3%.In geopolitical news, the US will remove any entity facilitating money laundering on Iran's behalf from the US dollar system as part of "Operation Economic Outcast," Treasury Secretary Scott Bessent said at a press conference. In addition, Bessent said the Treasury's Office of Foreign Assets Control is currently sanctioning over 60 entities, individuals and vessels assisting Iran, and he expects a "major announcement" of sanctions against a financial institution later this week.West Texas Intermediate crude oil fell 2.1% to $85.25 a barrel, and global benchmark Brent declined 2.2% to $92.28 a barrel. Henry Hub natural gas futures increased 0.2% to $2.78 per 1 million BTU.In corporate news, Chevron (CVX) said its EMEA subsidiary signed a production sharing agreement with Libya's National Oil Corp. Chevron shares declined 1.1%.Braskem (BAK) said its board approved the filing of an out-of-court restructuring petition covering the company and certain subsidiaries, involving about $10.9 billion in unsecured financial obligations, Braskem shares fell 7%.ExxonMobil (XOM) plans to expand automated drilling technology to half of its Permian Basin rig fleet by 2028, Reuters reported. Exxon shares fell 0.6%.Shell (SHEL) has drawn interest from potential bidders including ExxonMobil, LyondellBasell (LYB) and Apollo Global Management (APO) for its US chemicals assets, which could fetch up to $8 billion, the Financial Times reported. Shell shares fell 0.4%.

$BAK$CVX$SHEL$XOM
Sectors

Sector Update: Energy Stocks Decline Monday Afternoon

Energy stocks were lower Monday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each falling 1.2%.The Philadelphia Oil Service Sector Index dropped 2.6%, and the Dow Jones US Utilities Index was up 0.9%.Front-month West Texas Intermediate crude oil fell 2% to $85.31 a barrel, and the global benchmark Brent crude contract declined 1.8% to $92.68 a barrel. Henry Hub natural gas futures increased 0.1% to $2.78 per 1 million BTU.In corporate news, ExxonMobil (XOM) plans to expand automated drilling technology to half of its Permian Basin rig fleet by 2028 as it seeks to improve efficiency and increase oil production, Reuters reported Monday, citing an executive. The oil giant currently operates two automated rigs in the Permian and plans to raise that share to 25% next year, using robotics to reduce workers' exposure to high-risk areas and accelerate drilling, the report said, citing Bart Cahir, Exxon's senior vice president of unconventionals. Exxon shares were down 1.4%.Shell (SHEL) has drawn interest from potential bidders including ExxonMobil, LyondellBasell (LYB) and Apollo Global Management (APO) for its US chemicals assets, which could fetch up to $8 billion, the Financial Times reported. Shell shares decreased 0.5%.Eni (E) is expanding its investment in nuclear fusion, targeting a commercial fusion plant in Europe by the early 2040s or sooner, the Financial Times reported. Eni shares were down 2.2%.TotalEnergies (TTE) will invest in the Fujairah oil export pipeline expansion in Abu Dhabi and continue investing in the Middle East despite ongoing conflict in the region, Reuters reported Monday, citing CEO Patrick Pouyanne at the ONS energy conference in Norway. TotalEnergies shares were shedding 0.8%.

$E$SHEL$TTE$XOM

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