Shell plc

Shell to Sell Cyprus Gas Field Unit to MOL Group for Up to $720 Million

Sector Update: Energy Stocks Higher Late Afternoon

Energy stocks advanced late Thursday afternoon with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.5%.The Philadelphia Oil Service Sector Index advanced 2.5%, and the Dow Jones US Utilities Index fell 0.6%.Late Wednesday, the US Central Command forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to CENTCOM. Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.West Texas Intermediate crude oil shed 0.9% to $83.71 a barrel, and global benchmark Brent fell 1.8% to $89.09 a barrel. Henry Hub natural gas futures rose 0.8% to $2.75 per 1 million BTU.US natural gas stocks rose by 28 billion cubic feet in the week ended July 24, a smaller rise than the 35 billion cubic foot increase expected in a survey compiled by Bloomberg and following an increase of 32 billion cubic feet in the previous week.In corporate news, Shell (SHEL) shares gained 2.7% after the company reported Q2 results that beat consensus estimates.Exxon Mobil (XOM), Chevron (CVX) and other big oil companies are vying for Venezuela's choicest drilling spots, but talks with Venezuelan officials have recently hit an impasse, preventing them from making big moves, The Wall Street Journal reported. Exxon shares were up 0.4%, and Chevron added 0.3%.BP (BP) intends to cut around 700 non-frontline jobs from its global workforce, Reuters reported Thursday, citing an internal email it viewed. BP shares rose 2.1%.GE Vernova (GEV) is investing $166 million to expand its operations in Western Pennsylvania, Governor Josh Shapiro and Pennsylvania Department of Community and Economic Development Secretary Rick Siger said Thursday. GE Vernova shares rose past 8%.Emera (EMA) received final approval from the New Mexico Public Regulation Commission for the sale of New Mexico Gas to Bernhard Capital Partners in a $1.25 billion deal. Emera shares were up 0.2%.

Sector Update: Energy

Energy stocks gained late Thursday afternoon with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.5%.The Philadelphia Oil Service Sector Index advanced 2.5%, and the Dow Jones US Utilities Index fell 0.6%.West Texas Intermediate crude oil shed 0.9% to $83.71 a barrel, and global benchmark Brent fell 1.8% to $89.09 a barrel. Henry Hub natural gas futures rose 0.8% to $2.75 per 1 million BTU.In corporate news, Shell (SHEL) shares rose 2.6% after the company reported Q2 results that beat Wall Street estimates.

Update: Shell Shares Rise After Higher Q2 Results

(Updates with the latest stock movement in the first paragraph and headline.)Shell (SHEL) shares were up about 1.8% in Thursday trading after the company reported higher Q2 results.The company reported Q2 adjusted earnings Thursday of $1.76 per diluted share, up from $0.72 a year earlier.Analysts polled by FactSet expected $1.53.Revenue for the quarter ended June 30 rose to $94.66 billion, up from $65.41 billion a year earlier.Analysts expected $91.89 billion.Price: $89.89, Change: $+1.55, Percent Change: +1.75%

Sector Update: Energy Stocks Mixed Thursday Afternoon

Energy stocks were mixed Thursday afternoon, with the NYSE Energy Sector Index rising 0.4% and the State Street Energy Select Sector SPDR ETF (XLE) easing 0.2%.The Philadelphia Oil Service Sector Index was climbing up 2.1%, and the Dow Jones US Utilities Index decreased 0.5%.Late Wednesday, US Central Command forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to a CENTCOM statement. "The strikes aimed to further diminish threats posed by Iran and its proxies to American forces, commercial shipping, and neighboring Gulf countries." Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.Front-month West Texas Intermediate crude oil shed 0.4% to $84.09 a barrel, and the global benchmark Brent crude contract fell 1.3% to $89.58 a barrel. Henry Hub natural gas futures rose 1.5% to $2.76 per 1 million BTU.In corporate news, Exxon Mobil (XOM), Chevron (CVX) and other big oil companies are vying for Venezuela's choicest drilling spots, but talks with Venezuelan officials have recently hit an impasse, preventing them from making big moves, The Wall Street Journal reported. Exxon and Chevron shares were each shedding about 0.4%.BP (BP) intends to cut around 700 non-frontline jobs from its global workforce, Reuters reported Thursday, citing an internal email it viewed. BP shares rose 1.2%.Celanese (CE) said Thursday that the Amsterdam District Court dismissed the damages claim brought by Shell's (SHEL) Shell Chemicals Europe unit. The court also dismissed a claim from Repsol-related entities seeking declaratory judgement of liability of Celanese and its co-defendants, it said. The claims stemmed from a 2020 settlement with the European Commission regarding past ethylene purchases in North-Western Europe, according to the company. Celanese shares were up 1.3%, and Shell was adding 1.6%.

Celanese Says Shell Unit's Damages Claim Dismissed by Amsterdam Court

Celanese (CE) said Thursday that the Amsterdam District Court dismissed the damages claim brought by Shell's (SHEL) Shell Chemicals Europe subsidiary.The court also dismissed a claim from Repsol-related entities seeking declaratory judgement of liability of Celanese and its co-defendants, Celanese said.The claims stemmed from a 2020 settlement with the European Commission regarding past ethylene purchases in North-Western Europe, according to the company.Shell did not immediately respond to' request for comment.Celanese shares were up more than 2% in Thursday trading.Price: $44.87, Change: $+0.94, Percent Change: +2.13%

Sector Update: Energy Stocks Lean Lower Premarket Thursday

Energy stocks were leaning lower premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 1.1%.The United States Oil Fund (USO) was down 2% and the United States Natural Gas Fund (UNG) was 1.1% lower.Front-month US West Texas Intermediate crude oil was 0.6% lower at $83.96 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 0.9% to $89.96 per barrel, and natural gas futures were down 1.1% at $2.69 per 1 million British Thermal Units.Shell (SHEL) shares were up more than 1% after the company reported higher Q2 adjusted earnings and revenue.Cactus (WHD) stock was up nearly 6% after the company posted higher Q2 adjusted earnings and revenue.Valero Energy (VLO) stock was down more than 2% even after the company posted higher Q2 adjusted earnings and revenue.

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Thursday Amid Tech Earnings

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.7%, and the actively traded Invesco QQQ Trust (QQQ) advanced 1.5% in Thursday's premarket activity, amid earnings reports by big technology companies.US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 1% before the start of regular trading.US initial jobless claims rose to a level of 197,000 in the week ended July 25 from an upwardly revised 188,000 level in the previous week, compared with expectations for a larger increase to 200,000 in a survey of analysts compiled by Bloomberg.US economic growth, measured by gross domestic product, rose by 1.5% in Q2, after a 2.1% gain in Q1, below a 2.0% increase expected in a survey compiled by Bloomberg.Personal income rose by 0.2% in June following May's 0.7% gain, smaller than the expected 0.3% gain in a survey conducted by Bloomberg as of 7:35 am ET. The core PCE price index increased by 0.1%, below the 0.2% gain expected and following a 0.3% gain in May. The year-over-year rate dropped to 3.3% from 3.4% in the previous month.The weekly natural gas stocks will be released at 10:30 am ET.In premarket action, bitcoin was up by 1.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2% higher, Ether ETF (EETH) advanced 1.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was down 0.6%.Power Play:Microsoft (MSFT) shares were up more than 9% after the company reported higher fiscal Q4 adjusted earnings and revenue.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 1.3%, while the Vanguard Industrials Index Fund (VIS) was inactive and the iShares US Industrials ETF (IYJ) were up 2%.AGCO (AGCO) was down 7% before the opening bell after the company reported lower-than-expected Q2 adjusted earnings and net sales.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.3% lower.Banco Bilbao Vizcaya Argentaria (BBVA) shares traded up 5% in early hours activity after the company reported higher Q2 adjusted earnings and gross income.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 1.4%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 1.3%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.7%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.1% higher.Anheuser-Busch InBev (BUD) shares were down 2.2% pre-bell even after the company reported higher Q2 underlying earnings and revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 1.4%, the Vanguard Health Care Index Fund (VHT) was down 0.4%, while the iShares US Healthcare ETF (IYH) gained 1.7%. The iShares Biotechnology ETF (IBB) was up 1.4%.Bristol-Myers Squibb (BMY) was down 1.1% premarket even reporting higher Q2 non-GAAP earnings and revenue.EnergyThe iShares US Energy ETF (IYE) was up 2.8%, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.7%.Shell (SHEL) was up more than 1% before market open after the company reported higher Q2 adjusted earnings and revenue.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.6% to $83.99 per barrel on the New York Mercantile Exchange. Natural gas was down 1.1% to $2.69 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 1.1%, while the United States Natural Gas Fund (UNG) was 1.4% lower.Gold futures for August advanced by 0.9% to $4,133.20 an ounce on the Comex. Silver futures gained by 0.3% to $58.24 an ounce. SPDR Gold Shares (GLD) was up by 0.6%, and the iShares Silver Trust (SLV) rose by 1.1%.

Sector Update: Energy

Energy stocks were leaning lower premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.8%.The United States Oil Fund (USO) was down 0.9% and the United States Natural Gas Fund (UNG) was 1.3% lower.Front-month US West Texas Intermediate crude oil was 0.7% lower at $83.89 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 0.8% to $90.03 per barrel, and natural gas futures were down 1.4% at $2.68 per 1 million British Thermal Units.Shell (SHEL) shares were up 2% after the company reported higher Q2 adjusted earnings and revenue.

Shell Q2 Adjusted Earnings, Revenue Rise

Shell (SHEL) reported Q2 adjusted earnings Thursday of $1.76 per diluted share, up from $0.72 a year earlier.Analysts polled by FactSet expected $1.53.Revenue for the quarter ended June 30 rose to $94.66 billion, up from $65.41 billion a year earlier.Analysts expected $91.89 billion.

Shell Integrated Gas Production Tumbles in Q2

Shell (SHEL) produced an average of 631,000 barrels of oil equivalent per day of integrated natural gas in Q2, down about a third from Q1 output of 909,000 bpd prior to the start of conflict in the Middle East, it said on Thursday.The company's outlook for Q3 production is for similar to lower output of 570,000 to 630,000 boe/d.Natural gas liquefaction volumes were more stable at 7.7 million metric tons, down slightly from 7.9 million in Q1, with an outlook for 7.1 to 7.7 Mmt in Q3.Liquids production in Q2 was 1.37 million boe/d, rising from 1.35 mmboe/d in Q1.Natural gas production fell to 2.65 billion standard cubic feet per day, down from Q1's 2.88 billion.Total production was 1.82 million barrels of oil per day in Q2, down from 1.84 million in Q1. The outlook for Q3 is for 1.68 million to 1.88 million barrels of oil equivalent per day.Refinery utilization rose to 102% in Q2, up from 99% in Q1, the earnings update said, as the company sought to capitalize in a surge in refining margins.

Market Chatter: Shell, Phillips 66 Consider Divesting Explorer Pipeline Interests

Shell (SHEL) and Phillips 66 (PSX) are considering selling their majority stake in the company that owns the Explorer refined products pipeline, in a deal that could value the asset at about $3.5 billion, Reuters reported Wednesday, citing people familiar with the matter.Interest is initially focused on Shell's and Phillips 66's holdings, although Energy Transfer (ET) and MPLX (MPLX) could also decide to sell if bidders seek full ownership of the Explorer pipeline, Reuters reported. Greenhill, a Mizuho affiliate, and RBC Capital Markets are advising on the process.Explorer carries gasoline, jet fuel and other refined products from Texas into the Midwest, with terminals reaching the Chicago area. Shell and Phillips 66 control about 61% of the entity that owns the system, while the sources said discussions could still end without a transaction.Shell and Phillips 66 declined to comment, while Explorer did not immediately reply to' request for comment.

Update: Market Chatter: Shell, Phillips 66 Weighing Sale of Explorer Pipeline Stakes

(Updates to add companies declined to comment in fourth paragraph)Shell (SHEL) and Phillips 66 (PSX) are exploring a sale of their combined stakes in the Explorer refined products pipeline, in a deal that could value the asset at around $3.5 billion, Reuters reported Wednesday, citing people familiar with the matter.Shell and Phillips 66 together hold about 61% of the entity that owns the pipeline, with Energy Transfer (ET) and MPLX (MPLX) owning the rest, Reuters reported.Energy Transfer and MPLX could join the sale process if buyer interest is strong enough to pursue the full pipeline, the report said, adding that there is no guarantee a deal will be reached.Shell and Phillips 66 declined 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.)

Sector Update: Energy Stocks Gain Late Afternoon

Energy stocks rose late Wednesday afternoon, with the NYSE Energy Sector Index gaining 2.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.8%.The Philadelphia Oil Service Sector Index fell 0.8%, and the Dow Jones US Utilities Index shed 1.3%.In geopolitical news, President Donald Trump said Iran will be hit hard, according to Fox News. The US Central Command said it joined Saudi Arabian Armed Forces to conduct strikes in Iraq against Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure.West Texas Intermediate crude oil jumped 6.3% to $84.28 a barrel, and global benchmark Brent surged 7.4% to $90.32 a barrel. Henry Hub natural gas futures rose 2.4% to $2.73 per 1 million BTU.In corporate news, Shell (SHEL) and Phillips 66 (PSX) are exploring a sale of their combined stakes in the Explorer refined products pipeline in a deal that may value the asset at $3.5 billion, Reuters reported. Shell shares rose 2.5%, and Phillips 66 added 0.2%.Baker Hughes (BKR) shares were up 1.6% after the company said it secured a major order for 76 NovaLT 16 gas turbines from Dynamis Power Solutions.Woodside Energy (WDS) shares rose 4.9% after it reported higher Q2 operating revenue.Carlyle (CG), Energean, Dragon Oil, and Artemis Energy are among the companies that are anticipated to bid for BP's (BP) West Nile Delta natural gas development off Egypt this week, Reuters reported. BP shares were up 4.2%.

Sector Update: Energy

Energy stocks rose late Wednesday afternoon with the NYSE Energy Sector Index gaining 2.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.8%.The Philadelphia Oil Service Sector Index fell 0.8%, and the Dow Jones US Utilities Index shed 1.3%.West Texas Intermediate crude oil jumped 6.3% to $84.28 a barrel, and global benchmark Brent surged 7.4% to $90.32 a barrel. Henry Hub natural gas futures rose 2.4% to $2.73 per 1 million BTU.In corporate news, Shell (SHEL) and Phillips 66 (PSX) are exploring a sale of their combined stakes in the Explorer refined products pipeline in a deal that may value the asset at $3.5 billion, Reuters reported. Shell shares rose 2.4%, and Phillips 66 added 0.6%.

Market Chatter: Shell, Phillips 66 Weighing Sale of Explorer Pipeline Stakes

Shell (SHEL) and Phillips 66 (PSX) are exploring a sale of their combined stakes in the Explorer refined products pipeline, in a deal that could value the asset at around $3.5 billion, Reuters reported Wednesday, citing people familiar with the matter.Shell and Phillips 66 together hold about 61% of the entity that owns the pipeline, with Energy Transfer (ET) and MPLX (MPLX) owning the rest, Reuters reported.Energy Transfer and MPLX could join the sale process if buyer interest is strong enough to pursue the full pipeline, the report said, adding that there is no guarantee a deal will be reached.Shell and Phillips 66 did not immediately respond to requests 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: $88.44, Change: $+2.24, Percent Change: +2.60%

European Equities Traded in US as ADRs Ease in Wednesday Trading

European equities traded in the US as American depositary receipts eased late Wednesday morning with the S&P Europe Select ADR Index down 0.1% to 1,906.06.From continental Europe, the gainers were led by oil and gas company Eni (E) and energy company Equinor (EQNR), which climbed 6.9% and 6.2%, respectively. They were followed by software firm SAP (SAP) and travel-booking company trivago (TRVG), which increased 3% and 2.6%, respectively.The decliners from continental Europe were led by semiconductor company Sequans Communications (SQNS) and telecommunications company Nokia (NOK), which fell 4.8% and 3.6%, respectively. They were followed by lenders Banco Santander (SAN) and Banco Bilbao Vizcaya Argentaria (BBVA), which dropped 2.5% and 2.3%, respectively.The gainers from the UK were led by software firm Endava (DAVA) and oil and gas company BP (BP), which rose 4.2% and 3.7%, respectively. They were followed by oil and gas company Shell (SHEL) and biopharmaceutical company Amarin (AMRN), which climbed 2.5% and 2.4%, respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Biodexa Pharmaceuticals (BDRX) and pharmaceutical company Silence Therapeutics (SLN), which shed 25% and 4.6%, respectively. They were followed by biopharmaceutical company Akari Therapeutics (AKTX) and lender Barclays (BCS), which lost 3.3% and 2.8%, respectively.

Oil Producers Hoard Cash as $495 Billion Windfall Fails to Ignite Spending, Wood Mackenzie Says

The global oil and gas industry is on track to generate $495 billion in windfall cash flows this year, based on the assumption that Brent prices average $90 a barrel. Yet, their investment budgets remain flat, say analysts at Wood Mackenzie.The 49 international and national oil companies covered in the firm's analysis will earn a total of about $272 billion of the total windfall. That is in turn equal to about 70% of their combined annual investment budgets.Nonetheless, companies have largely kept their capital spending plans unchanged while allowing cash to accumulate on their balance sheets. Wood Mackenzie also expects share buybacks across the peer group to decline about 5% year-over-year based on announced plans ahead of second-quarter results.According to Tom Ellacott, Senior Vice President of Corporate Research at Wood Mackenzie, companies have largely adopted a "wait-and-see approach" amid continued geopolitical uncertainty, with capital discipline proving "more durable than either the bears or bulls expected."As a result, analysts have warned of significant long-term production challenges, noting that 155 upstream companies could face, on average, a 30% decline in production between 2030 and 2040, while more than 70 companies stand to see output dip by 50% over the same period.The report, however, noted resilience in M&A activities, with transactions reaching their highest levels in two years during the first-half of 2026.This included Shell's (SHEL) proposed $16 billion acquisition of ARC, Devon Energy's (DVN) $25 billion merger with Coterra (CTRA), and Mitsubishi's $7.5 billion purchase of Aethon.

Market Chatter: PetroChina Explores LNG Canada Development Stake Divestment

Chinese state-owned energy major PetroChina is considering selling a portion of its stake in LNG Canada Development and has hired an adviser to assess market interest, Bloomberg reported Tuesday, citing undisclosed sources.PetroChina, which owns a 15% stake in LNG Canada Development, potentially valued at a few billion dollars, may opt to cut its interest through several small deals, the report said, adding that the company is in early stage talks and no decision has been taken yet.The Chinese oil and gas company intends to use deal proceeds to fund the planned second phase expansion of the LNG Canada Development, which would double the facility's output. The project has been an important liquefied natural gas alternative for China amid the ongoing Middle East energy supply crisis and the disruptions to deliveries from Qatar, which accounted for 30% of the country's 2025 LNG imports, the report added.The first phase of the $31 billion LNG project in Kitimat, British Columbia, began exports last year. Other partners in the project include Shell (SHEL), Mitsubishi Corp, Petroliam Nasional Bhd, and Korea Gas.has reached out to PetroChina and LNG Canada for comments.(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.)