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Shell plc

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144 stories mentioning Shell plcUpdated 36m 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.

Sectors

Sector Update: Energy Stocks Lower Pre-Bell Friday

Energy stocks were mostly lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining 4%.The United States Oil Fund (USO) was down 9.4%, while the United States Natural Gas Fund (UNG) was 1.4% higher.Front-month US West Texas Intermediate crude oil was down 11% to $84.67 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 9.6% to $09.10 per barrel, and natural gas futures were 0.3% higher at $2.64 per 1 million British Thermal Units.An Astana court upheld a 2.356 trillion tenge ($5 billion) environmental fine against North Caspian Operating Company, the operator of Kazakhstan's Kashagan oil field, whose shareholders include Exxon Mobil (XOM), Shell (SHEL), TotalEnergies (TTE), and Eni (E), among others, Bloomberg News reported Friday.Shell shares fell 4.7% premarket, while Exxon stock was down more than 4% before the opening bell.TotalEnergies stock fell 4.2%, and Eni was down 5.7%.

$E$SHEL$TTE$UNG$USO$XLE$XOM
Equities

Kazakhstan Court Upholds $5 Billion Kashagan Sulfur Fine Against Consortium Including Exxon, Shell, TotalEnergies

An Astana court upheld a 2.356 trillion tenge ($5 billion) environmental fine against North Caspian Operating Company, the operator of Kazakhstan's Kashagan oil field, whose shareholders include KazMunayGas, Exxon Mobil (XOM), Shell (SHEL), TotalEnergies (TTE), Eni (E), Inpex and China National Petroleum, Bloomberg reported Friday.Kazakhstan's Ministry of Ecology and Natural Resources told Bloomberg that the April 8 ruling confirmed penalties tied to excessive sulfur storage at the field. The decision has entered into legal force, the report said.The penalty is tied to a wider $166 billion arbitration dispute over environmental claims and state revenue from the project, the report added. Kashagan remains central to Europe's supply shift away from Russian energy after Russia's invasion of Ukraine, it said.Exxon Mobil, Shell, TotalEnergies, Eni, Inpex and China National Petroleum did not immediately respond to' request for comment.

$E$SHEL$TTE$XOM
Sectors

Sector Update: Energy

Energy stocks were lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining 0.9%.The United States Oil Fund (USO) was down 3.8%, while the United States Natural Gas Fund (UNG) was 0.1% higher.Front-month US West Texas Intermediate crude oil was down 3.7% to $91.19 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 3.1% to $96.27 per barrel, and natural gas futures were 1.4% higher at $2.69 per 1 million British Thermal Units.Shell (SHEL) shares fell 1.6% premarket after gaining 1.9% in the previous close. BNP Paribas downgraded the company to neutral from outperform, and lifted its price target to $101 from $81.

$SHEL
Research

BNP Paribas Downgrades Shell to Neutral From Outperform, Adjusts PT to $101 From $81

Shell (SHEL) has an average rating of overweight and mean price target of $98.59, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$SHEL
Commodities

Market Chatter: European Buyers Look to Canada for LNG Supplies

European energy giants, including Germany's Uniper, are in talks to secure long-term liquefied natural gas supplies from Canada's Pacific coast, Reuters reported Wednesday citing sources.The Iran conflict has sparked a strong interest in Canada's proposed Ksi Lisims LNG project from global buyers, the report said.Buyers are reportedly willing to absorb the high costs of Panama Canal transit to access stable energy sources, it said.The Ksi Lisims project is a partnership between Western LNG, Rockies LNG, and the Nisga'a First Nation.While the facility is years from completion, it has been placed on a fast-track for permitting by the government of Prime Minister Mark Carney, the report added.Energy giants Shell (SHEL) and TotalEnergies (TTE) have already secured 20-year purchase agreements with the terminal, it added.has contacted the parties involved seeking 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.)

$SHEL$TTE
Commodities

Viva Energy's Geelong Refinery Catches Fire

A fire broke out on Wednesday at Australia-based Viva Energy's Geelong refinery in Victoria, causing explosions and flames, according to the local fire and rescue service.Fire Rescue Victoria said in a statement that it responded to an incident at the MOGAS unit at the Viva Oil Refinery in Corio at 11.15 pm local time on Wednesday, following multiple calls reporting explosions and flames."The Fire is not yet under control although is currently contained to the plant / area of origin and involves liquid fuels and gases," Fire Rescue Victoria said in a statement.The Geelong refinery processes 120,000 barrels per day and is one of only two refineries still operational in the country, according to the firm's website.The plant accounts for about 10% of Australia's total fuel needs and supplies over 50% of Victoria's fuel, according to Viva's website.Viva Energy did not immediately respond to' request for comment.Viva operates 1,300 Shell (SHEL) gas stations across the country and runs a fuel and oil distribution network that supplies Australia, the Financial Review reported. It is the only Australian manufacturer of aviation fuel.

$SHEL
Sectors

Sector Update: Energy Stocks Fall Late Afternoon

Energy stocks fell late Tuesday afternoon with the NYSE Energy Sector Index declining 2.4% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2%.The Philadelphia Oil Service Sector Index shed 2.8%, and the Dow Jones US Utilities Index gained 0.4%.In sector news, oil prices fell amid optimism that the US and Iran may revive peace talks. The two countries could resume talks later this week, possibly in Pakistan, news outlets reported, citing US President Donald Trump. Trump continues to be open to resuming in-person negotiations soon if he believes Iran is ready to submit to his demands, CNN reported, citing people familiar with the matter.Separately, the International Energy Agency on Tuesday forecast global oil demand to turn negative this year due to the Middle East conflict, penciling in the sharpest consumption decline in Q2 since the COVID-19 pandemic.West Texas Intermediate crude oil tumbled 7.5% to $91.65 a barrel, and global benchmark Brent dropped 4.5% to $94.92 a barrel. Henry Hub natural gas futures decreased 0.9% to $2.60 per 1 million BTU.In corporate news, BP (BP) said its Q1 upstream production is expected to be "broadly flat" from the previous quarter, while cautioning that energy market volatility may pressure results and widen price fluctuations. BP shares shed 0.7%.Exxon Mobil (XOM) and Dow (DOW) are among companies raising prices for plastics as the US-Israel war with Iran drives fuel and feedstock costs higher, Bloomberg reported. Exxon shares fell 2.2%.Shell (SHEL) is in late-stage talks to sell its South African retail fuel network to Abu Dhabi National Oil, Bloomberg reported. The prospective $1 billion deal includes 600 fueling locations and would secure a 10% regional market share for the buyer, the report said. Shell shares fell 1.4%.Bloom Energy (BE) shares jumped 24%, a day after the company said it will provide up to 2.8 gigawatts of its fuel cell systems to Oracle (ORCL) under an expanded partnership to support the software giant's AI infrastructure buildout.

$BE$BP$SHEL$XOM
Oil & Energy

Market Chatter: Shell in Talks to Sell South Africa Stations to Adnoc for $1 Billion

Abu Dhabi National Oil Co. is in advanced talks to acquire Shell's (Shel) South Africa fuel stations in a deal valued at about $1 billion, Bloomberg said Tuesday, citing people familiar with the matter.Shell is negotiating the sale of its retail fuel network in South Africa to Adnoc, with discussions progressing toward a potential agreement as soon as this quarter, the report said.Adnoc has emerged as the leading bidder after earlier negotiations between Shell and Gunvor Group collapsed, the report added, citing sources.The acquisition would include roughly 600 service stations, giving Adnoc an estimated 10% share in South Africa's fuel retail market, according to the report.The sale process, which began in 2024, has continued despite Middle East tensions, highlighting Adnoc's broader strategy to expand its footprint across Africa, the report said.Adnoc has also been growing its presence in the region through other investments, including a $500 million agreement with BP to develop a gas project in Egypt, the report added.South Africa's fuel retail sector has seen consolidation in recent years, with Glencore acquiring Chevron's Caltex network and Vivo Energy purchasing Engen, the country's largest station operator, the report noted.Shell is divesting non-core assets globally, with several firms, including Puma Energy, Sasol, and PetroSA, previously expressing interest in the South African business, according to the report.has reached out to Shell and Abu Dhabi National Oil Co. for any 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.)Price: $91.28, Change: $-1.32, Percent Change: -1.43%

$SHEL
Sectors

Sector Update: Energy Stocks Fall Tuesday Afternoon

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index falling 2.5% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2.4%.The Philadelphia Oil Service Sector Index was shedding 2.3%, and the Dow Jones US Utilities Index was decreasing 0.2%.In sector news, optimism over the resumption of Iran peace talks sent crude oil futures sharply lower. President Donald Trump remains open to resuming in-person negotiations soon if he believes Iran is ready to submit to his demands, CNN reported, citing people familiar with the matter. He said that "something could be happening" over the next two days in Pakistan, where previous talks faltered.Separately, the International Energy Agency on Tuesday forecast global oil demand to turn negative this year due to the Middle East conflict, penciling in the sharpest consumption decline in Q2 since the COVID-19 pandemic.Front-month West Texas Intermediate crude oil was slumping 6.5% to $92.69 a barrel, and the global benchmark Brent crude contract was dropping 4.2% to $95.21 a barrel. Henry Hub natural gas futures fell 2.1% to $2.57 per 1 million BTU.In corporate news, Shell (SHEL) is in late-stage talks to sell its South African retail fuel network to Abu Dhabi National Oil, Bloomberg reported. The prospective $1 billion deal includes 600 fueling locations and would secure a 10% regional market share for the buyer, the report said. Shell shares were down 1.8%.BP (BP) said Tuesday its Q1 upstream production is expected to be "broadly flat" from the previous quarter, while cautioning that energy market volatility may pressure results and widen price fluctuations. BP shares fell 1.3%.Bloom Energy (BE) shares jumped 21% after it said late Monday it will provide up to 2.8 gigawatts of its fuel cell systems to Oracle (ORCL) under an expanded partnership to support the software giant's AI infrastructure buildout.

$BE$BP$SHEL
Sectors

Sector Update: Energy

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index falling 2.5% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2.4%.The Philadelphia Oil Service Sector Index was shedding 2.3%, and the Dow Jones US Utilities Index was decreasing 0.2%.In sector news, optimism over the resumption of Iran peace talks sent crude oil futures sharply lower. President Donald Trump remains open to resuming in-person negotiations soon if he believes Iran is ready to submit to his demands, CNN reported, citing people familiar with the matter. He said that "something could be happening" over the next two days in Pakistan, where previous talks faltered.Front-month West Texas Intermediate crude oil was slumping 6.5% to $92.69 a barrel, and the global benchmark Brent crude contract was dropping 4.2% to $95.21 a barrel. Henry Hub natural gas futures fell 2.1% to $2.57 per 1 million BTU.In corporate news, Shell (SHEL) is in late-stage talks to sell its South African retail fuel network to Abu Dhabi National Oil, Bloomberg reported. The prospective $1 billion deal includes 600 fueling locations and would secure a 10% regional market share for the buyer, the report said. Shell shares were down 1.6%.

$SHEL
Wire

Market Chatter: Shell, Abu Dhabi National Oil in Late-Stage Sale Talks Over South African Gas Stations

Shell (SHEL) is in late-stage discussions to sell its South African retail fuel network to Abu Dhabi National Oil, Bloomberg reported Tuesday, citing people with knowledge of the matter.The prospective $1 billion transaction includes 600 fueling locations and would secure a 10% regional market share for the buyer, the media outlet reported.A final agreement could be reached during the current quarter after earlier acquisition negotiations with Gunvor Group collapsed, according to the publication.Shell and Abu Dhabi National Oil 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: $91.37, Change: $-1.23, Percent Change: -1.33%

$SHEL
Asia Markets

European Equities Traded in the US as ADRs Rise in Tuesday Trading

European equities traded in the US as American depositary receipts rose late Tuesday morning with the S&P Europe Select ADR Index gaining 0.3% to 1,844.78.From continental Europe, the gainers were led by biopharmaceutical company Grifols (GRFS) and internet browser company Opera (OPRA), which rose 3.1% and 2.9%, respectively. They were followed by pharmaceutical company Novo Nordisk (NVO) and semiconductor company Sequans Communications (SQNS), which were up 2.3% and 1.6%, respectively.The decliners from continental Europe were led by petroleum refiner Equinor (EQNR) and biotech firm Evaxion (EVAX), which fell 2.5% and 1.2%, respectively. They were followed by oil and gas company Eni (E) and pharmaceutical company Ascendis Pharma (ASND), which were down 1% and 0.5%, respectively.The gainers from the UK were led by biopharmaceutical companies Bicycle Therapeutics (BCYC) and Biodexa Pharmaceuticals (BDRX), which advanced 6.2% and 4.2%, respectively. They were followed by biopharmaceutical company NuCana (NCNA) and cruise line operator Carnival (CUK), which increased 3.4% and 3%, respectively.The decliners from the UK and Ireland were led by biotech firm Trinity Biotech (TRIB) and pharmaceutical company Silence Therapeutics (SLN), which dropped 1.7% and 1.5%, respectively. They were followed by tobacco company British American Tobacco (BTI) and oil and gas company Shell (SHEL), which were off 1.4% and 1.1%, respectively.

$ASND$BCYC$BDRX$BTI$CUK$E$EQNR$EVAX$GRFS$NCNA$NVO$OPRA$SHEL$SLN$SQNS$TRIB
Sectors

Sector Update: Energy Stocks Mixed Late Afternoon

Energy stocks were mixed late Monday afternoon, with the NYSE Energy Sector Index shedding 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.3%.The Philadelphia Oil Service Sector Index added 1%, and the Dow Jones US Utilities Index was falling 1.2%.Front-month West Texas Intermediate crude oil was rising 1.4% to $97.89 a barrel, and the global benchmark Brent crude contract was advancing 3.3% to $98.32 a barrel. Henry Hub natural gas futures shed 0.8% to $2.63 per 1 million BTU.In sector news, the Organization of the Petroleum Exporting Countries on Monday lowered its Q2 oil demand forecast due to the Middle East conflict, but maintained its full-year estimates amid expectations for a rebound in H2. The cartel sees global oil consumption at 105.1 million barrels a day in the ongoing three-month period, it said in its latest monthly market report. Last month, the organization projected demand at 105.6 million barrels per day in Q2.In corporate news, TotalEnergies (TTE) shares added 0.8% after it said Monday that it has signed a memorandum of understanding with Turkey's state energy company TPAO to pursue exploration opportunities.Chevron (CVX) and Shell (SHEL) are set to sign agreements involving oil and gas areas in Venezuela, Reuters reported. Chevron shares rose 1.7%, and Shell added 0.4%.GFL Environmental (GFL) agreed to acquire Secure Waste Infrastructure in a 6.4 billion-Canadian-dollar ($4.63 billion) deal that is expected to boost its waste management operations in Western Canada. GFL shares fell 9.6%.Equinor (EQNR) shares added 0.5% after it said Monday its board has decided to propose a share capital reduction to shareholders through the cancellation of own shares and redemption of shares held by the Norwegian state following its 2025 buyback program.

$CVX$EQNR$GFL$SHEL$TTE
Sectors

Sector Update: Energy Stocks Advance Monday Afternoon

Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 0.3% and the State Street Energy Select Sector SPDR ETF (XLE) fractionally higher.The Philadelphia Oil Service Sector Index was climbing 1.4%, and the Dow Jones US Utilities Index was falling 1.2%.In sector news, the US military blockade on all traffic entering and leaving Iranian ports started at 10 am ET Monday, after weekend peace talks in Pakistan faltered, CNN reported. "If any of these ships [that the president refers to as Iran's 'fast attack ships'] come anywhere close to our BLOCKADE, they will be immediately ELIMINATED," Trump said on a social media post.Separately, the Organization of the Petroleum Exporting Countries on Monday lowered its Q2 oil demand forecast due to the Middle East conflict, but maintained its full-year estimates amid expectations for a rebound in H2. The cartel sees global oil consumption at 105.1 million barrels a day in the ongoing three-month period, it said in its latest monthly market report. Last month, the organization projected demand at 105.6 million barrels per day in Q2.Front-month West Texas Intermediate crude oil was rising 3.2% to $99.72 a barrel, and the global benchmark Brent crude contract was advancing 5% to $99.93 a barrel. Henry Hub natural gas futures shed 0.6% to $2.63 per 1 million BTU.In corporate news, Chevron (CVX) and Shell (SHEL) are set to sign agreements involving oil and gas areas in Venezuela, Reuters reported. Chevron shares rose 1.2%, and Shell added 0.4%.GFL Environmental (GFL) agreed to acquire Secure Waste Infrastructure in a 6.4 billion-Canadian-dollar ($4.63 billion) deal that is expected to boost its waste management operations in Western Canada. GFL shares fell nearly 8%.Equinor (EQNR) shares added 1.3% after it said Monday its board has decided to propose a share capital reduction to shareholders through the cancellation of own shares and redemption of shares held by the Norwegian state following its 2025 buyback program.

$CVX$EQNR$GFL$SHEL
Sectors

Sector Update: Energy

Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 0.4% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.3%.The Philadelphia Oil Service Sector Index was climbing 1.4%, and the Dow Jones US Utilities Index was falling 1.2%.In sector news, oil prices rose Monday as a deadline passed for the start of a US blockade of maritime traffic around Iran's ports. The blockade of maritime traffic entering and exiting Iranian ports was set to start at 10 am ET on Monday, according to a statement issued by the US Central Command, or CENTCOM, on Sunday.Front-month West Texas Intermediate crude oil was rising 3.2% to $99.72 a barrel, and the global benchmark Brent crude contract was advancing 5% to $99.93 a barrel. Henry Hub natural gas futures shed 0.6% to $2.63 per 1 million BTU.In corporate news, Chevron (CVX) and Shell (SHEL) are set to sign agreements involving oil and gas areas in Venezuela, Reuters reported. Chevron shares rose 1%, and Shell added 0.5%.

$CVX$SHEL
Wire

Update: Market Chatter: Chevron, Shell to Sign Deals for Venezuelan Oil, Gas Assets

(Updates with decline to comment from Shell in fourth paragraph.)Chevron (CVX) and Shell (SHEL) are set to sign agreements involving oil and gas areas in Venezuela, Reuters reported Monday, citing three sources close to the discussions.Chevron is expected to agree to return an offshore gas field to the Venezuelan government and take part in an extra-heavy crude project in the country's main oil region, the report said.Shell is expected to sign a deal to receive the Loran gas field for operation, the report said.Shell declined to comment, while Chevron did not immediately respond to a request for comment from.Chevron shares rose 1.1% in Monday trading, and Shell gained 0.4%.(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: $190.68, Change: $+2.13, Percent Change: +1.13%

$CVX$SHEL
Commodities

Correction: Market Chatter: Chevron, Shell Advance Venezuela Projects With New Oil, Gas Pacts

(Adds the "Market Chatter" moniker as the article is based on a Reuters report.)Chevron (CVX) and Shell (SHEL) are set to sign Venezuela energy deals on Monday, covering offshore gas and heavy crude areas, Reuters reported Monday, citing three sources familiar with the matter.Chevron is expected to finalize agreements to hand back control of an offshore gas asset while gaining participation in an extra-heavy crude zone within Venezuela's key oil-producing region, the sources said.Separately, Shell is poised to take over operations of the Loran offshore gas field under a new pact, the sources added.Chevron and Shell 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: $190.54, Change: $+1.99, Percent Change: +1.06%

$CVX$SHEL
Commodities

Chevron, Shell Advance Venezuela Projects With New Oil, Gas Pacts

Chevron (CVX) and Shell (SHEL) are set to sign Venezuela energy deals on Monday, covering offshore gas and heavy crude areas, Reuters reported Monday, citing three sources familiar with the matter.Chevron is expected to finalize agreements to hand back control of an offshore gas asset while gaining participation in an extra-heavy crude zone within Venezuela's key oil-producing region, the sources said.Separately, Shell is poised to take over operations of the Loran offshore gas field under a new pact, the sources added.Chevron and Shell did not immediately respond to' request for comment.Price: $190.75, Change: $+2.19, Percent Change: +1.16%

$CVX$SHEL
Wire

Market Chatter: Chevron, Shell to Sign Deals for Venezuelan Oil, Gas Assets

Chevron (CVX) and Shell (SHEL) are set to sign agreements involving oil and gas areas in Venezuela, Reuters reported Monday, citing three sources close to the discussions.Chevron is expected to agree to return an offshore gas field to the Venezuelan government and take part in an extra-heavy crude project in the country's main oil region, the report said.Shell is expected to sign a deal to receive the Loran gas field for operation, the report said.The companies didn't immediately respond to requests from comment from.Chevron shares rose 1.2% in Monday trading, and Shell gained 0.4%.(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: $190.72, Change: $+2.17, Percent Change: +1.15%

$CVX$SHEL
Commodities

TotalEnergies, TPAO Sign MOU to Explore Black Sea

TotalEnergies (TTE) has signed a memorandum of understanding with Turkey Petrolleri Anonim Ortakligi to pursue joint exploration opportunities in the Black Sea, the companies said on Monday.The pact establishes a framework for technical cooperation between the two firms, including a joint assessment of exploration prospects in the Black Sea and potential international projects."We are pleased to launch this cooperation with TPAO, leveraging the technical expertise of both companies to evaluate exploration opportunities in the Black Sea region and internationally on a mutually beneficial basis," said Nicola Mavilla, senior vice-president for exploration at TotalEnergies.TPAO signed an agreement with Shell (SHEL) in February to jointly explore for oil and natural gas in Bulgaria's offshore Black Sea waters.Since the beginning of the year, the Turkish state energy firm has signed energy cooperation agreements with ExxonMobil (XOM), Chevron (CVX) and BP (BP) for possible exploration work in the Black Sea and the Mediterranean.Price: $93.13, Change: $+0.48, Percent Change: +0.52%

$BP$SHEL$TTE$XOM

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