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Shell plc

$SHEL
LSEEnergy

335 stories mentioning Shell plcUpdated 2d 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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Equities

Market Chatter: Shell to Receive Nigeria Tax Incentive for Deepwater Project

Shell (SHEL) will receive a production-linked tax credit from Nigeria for its Bonga Southwest Aparo deepwater project, Bloomberg reported Tuesday, citing people familiar with the matter.The report said Shell and its partners will receive a tax rebate of $11.50 per barrel of crude produced, more than double the standard amount, under terms approved by President Bola Tinubu.The incentive will also be available for other producers for new deepwater projects through at least 2029, according to Bloomberg.Shell told Bloomberg it continues to advance the project toward development but declined to comment further.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.)

$SHEL
Sectors

Sector Update: Energy Stocks Gain Late Afternoon

Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index rising 3.2% and the State Street Energy Select Sector SPDR ETF (XLE) adding 3%.The Philadelphia Oil Service Sector Index climbed 0.9%, and the Dow Jones US Utilities Index was up 0.9%.Crude oil prices surged after reports that President Donald Trump will reinstate a blockade on Iranian ships transiting the Strait of Hormuz. Trump said the US would charge a 20% toll on eligible cargo, escalating tensions after a weekend of attacks by both nations to assert control of the critical waterway, the Associated Press reported.West Texas Intermediate crude oil jumped 8.8% to $77.70 a barrel, and global benchmark Brent climbed 9.1% to $82.90 a barrel. Henry Hub natural gas futures fell 2.2% to $2.88 per 1 million BTU.In sector news, the White House is organizing a voluntary agreement between utility companies and data center developers to prevent AI electricity demand from inflating consumer bills, Reuters reported.In corporate news, Shell (SHEL) said its Shell Overseas Investment unit agreed to sell Solenergi Power to Aditya Birla Renewables for $1.8 billion. Shell shares rose 2.1%.Pembina Pipeline (PBA) shares gained 4.2% after Wells Fargo upgraded the stock to overweight from underweight.Eni (E) agreed to fuel BMW corporate fleet vehicles in Italy with a diesel biofuel produced from renewable materials. Separately, Eni's Eni Industrial Evolution unit and Seri Industrial's FIB have established Faenix, a commercial platform focused on battery energy storage systems based on lithium iron phosphate technology. Eni shares climbed 3.7%.Fermi's (FRMI) co-founder and largest shareholder, Toby Neugebauer, said Miles Everson's resignation from the company's board stemmed from a governance dispute rather than personal reasons, according to a statement. Neugebauer said Everson, Fermi's former chief financial officer, resigned after the board was not notified of a $375 million convertible note offering before it was publicly announced. Fermi shares were down 4.9%.

$E$FRMI$PBA$SHEL
Commodities

Shell to Sell Sprng Energy Platform to Aditya Birla Renewables for $1.8 Billion

Shell Overseas Investment, a wholly owned subsidiary of Shell (SHEL), has agreed to sell its renewable energy platform, Sprng Energy, to Aditya Birla Renewables for $1.8 billion, Shell said in a statement on Monday.The transaction, which is expected to close by the end of the year, involves the sale of 100% of Solenergi Power, the holding company for the Sprng Energy group of companies.The divestment includes Sprng Energy's physical assets and commercial contracts.Sprng Energy supplies renewable power to electricity distribution companies across India. Its portfolio comprises 5 gigawatts-peak of solar and wind assets, including 3.3 GWp of operating capacity and 1.7 GWp of contracted projects.ABRen, the renewable energy platform of the Aditya Birla develops and operates a diversified portfolio of renewable energy projects across India, including solar, wind, hybrid, floating solar and battery storage assets.Global Infrastructure Partners, part of BlackRock, is a strategic investor in the company.Shell said the sale aligns with its strategy to reshape its power business portfolio, recycle capital, and focus on an asset-backed trading model.The company said it seeks to improve returns and progress toward a target of around 10% return on average capital employed by 2030.Price: $84.15, Change: $+1.91, Percent Change: +2.33%

$SHEL
Sectors

Sector Update: Energy Stocks Gain Monday Afternoon

Energy stocks advanced Monday afternoon with the NYSE Energy Sector Index rising 2.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 3.1%.The Philadelphia Oil Service Sector Index climbed 1.2%, and the Dow Jones US Utilities Index gained 0.9%.Crude oil prices surged after reports that President Donald Trump will reinstate a blockade on Iranian ships transiting the Strait of Hormuz. Trump said the US would charge a 20% toll on eligible cargo, escalating tensions after a weekend of attacks by both nations to assert control of the critical waterway, the Associated Press reported.West Texas Intermediate crude oil jumped 6.7% to $76.18 a barrel, and global benchmark Brent climbed 6.8% to $81.16 a barrel. Henry Hub natural gas futures fell 1.5% to $2.90 per 1 million BTU.In sector news, the White House is organizing a voluntary agreement between utility companies and data center developers to prevent AI electricity demand from inflating consumer bills, Reuters reported.In corporate news, Shell (SHEL) said its Shell Overseas Investment unit agreed to sell Solenergi Power to Aditya Birla Renewables for $1.8 billion. Shell shares rose 2%.Eni (E) agreed to fuel BMW corporate fleet vehicles in Italy with a diesel biofuel produced from renewable materials. Separately, Eni's Eni Industrial Evolution unit and Seri Industrial's FIB have established Faenix, a commercial platform focused on battery energy storage systems based on lithium iron phosphate technology. Eni shares rose 3.6%.SLB (SLB) said its OneSubsea joint venture received a multiwell engineering, procurement, and construction contract from Eni for phase 3 of the deepwater Baleine project offshore Ivory Coast. SLB shares eased 0.2%.

$E$SHEL$SLB
Sectors

Sector Update: Energy

Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 2.6% and the State Street Energy Select Sector SPDR ETF (XLE) adding 2.7%.The Philadelphia Oil Service Sector Index was climbing 1.1%, and the Dow Jones US Utilities Index was up 0.5%.Crude oil prices rose amid reports that President Donald Trump will reinstate a blockade on Iranian ships transiting the Strait of Hormuz. Trump said Monday that Iranian ships will no longer be able to travel through the Strait of Hormuz and that America would charge a 20% toll on eligible cargo, escalating tensions after a weekend of attacks by both nations to assert control of the critical waterway, the Associated Press reported. The US launched several waves of heavy strikes on Iran into Monday morning, hitting some 140 targets, in response to an Iranian attack on a container ship in the Strait of Hormuz, the news report said. Iran retaliated by targeting countries across the Middle East, it added.Front-month West Texas Intermediate crude oil jumped 5.9% to $75.64 a barrel, and the global benchmark Brent crude contract climbed 6% to $80.58 a barrel. Henry Hub natural gas futures fell 1.2% to $2.91 per 1 million BTU.In corporate news, Shell (SHEL) said Monday its Shell Overseas Investment signed a deal to sell 100% of Solenergi Power to Aditya Birla Renewables Limited for $1.8 billion. Shell shares were up 1.9%.

$SHEL
Asia Markets

European Equities Traded in US as ADRs Decline

European equities traded in the US as American depositary receipts fell in Monday trading with the S&P Europe Select ADR Index shedding 0.6% to 1,894.81.From continental Europe, the gainers were led by technology company Ericsson (ERIC) and healthcare company Fresenius Medical Care (FMS), which rose 2% and 1.6%, respectively. They were followed by software company SAP (SAP), which added 1.4%.The decliners from continental Europe were led by semiconductor company Sequans Communications (SQNS) and tech company Opera (OPRA), which fell 4.4% and 1.4%, respectively.From the UK and Ireland, the gainers were led by telecom giant Vodafone (VOD) and education group Pearson (PSO), which gained 4% and 3.2%, respectively. They were followed by energy giants BP (BP) and Shell (SHEL), which added 2.8% and 1.3%, respectively.The decliners from the UK and Ireland were led by banking group Lloyds (LYG) and pharmaceutical company AstraZeneca (AZN), which shed 1.7% and 1.1%, respectively.

$AZN$BP$ERIC$FMS$LYG$OPRA$PSO$SAP$SHEL$SQNS$VOD
Wire

Shell to Sell Solenergi Power to Aditya Birla for $1.8 Billion

Shell (SHEL) said Monday its Shell Overseas Investment signed a deal to sell 100% of Solenergi Power Private Limited to Aditya Birla Renewables Limited for $1.8 billion.The deal for Solenergi, which includes the Sprng Energy group of companies, is expected to be completed by the end of the year, subject to closing conditions and regulatory approval, Shell said.Price: $83.30, Change: $+1.07, Percent Change: +1.30%

$SHEL
Wire

Shell to Sell Solenergi Power to Aditya Birla for $1.8 Billion

Shell to Sell Solenergi Power to Aditya Birla for $1.8 Billion

$SHEL
Sectors

Sector Update: Energy Stocks Decline Pre-Bell Thursday

Energy stocks were declining pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.4% lower.The United States Oil Fund (USO) was down 1.5% and the United States Natural Gas Fund (UNG) was 2.1% lower.Front-month US West Texas Intermediate crude oil was 0.2% higher at $73.64 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.4% to $78.30 per barrel, and natural gas futures were down 0.7% at $3.19 per 1 million British Thermal Units.Shell (SHEL) received valid tenders for about $6.3 billion of outstanding unregistered notes in its previously announced exchange offers, the oil giant said. Shares of Shell were 0.6% lower premarket.TotalEnergies (TTE) stock was down 0.4% after the company said it sold its 170-megawatt distributed solar portfolio across seven European countries to Amarenco and AMPYR Distributed Energy.BP (BP) will push decision-making closer to the "frontline" and seek greater financial accountability and discipline, said Meg O'Neill, the British energy giant's new CEO, on social media platform Linkedin. BP shares were down more than 1% pre-bell.

$BP$SHEL$TTE$UNG$USO$XLE
Sectors

Sector Update: Energy

Energy stocks were declining pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.2% lower.The United States Oil Fund (USO) was down 0.4% and the United States Natural Gas Fund (UNG) was 0.8% lower.Front-month US West Texas Intermediate crude oil was 0.6% higher at $73.99 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.9% to $78.72 per barrel, and natural gas futures were down 0.6% at $3.19 per 1 million British Thermal Units.Shell (SHEL) received valid tenders for about $6.3 billion of outstanding unregistered notes in its previously announced exchange offers, the oil giant said. Shares of Shell were 0.3% lower premarket.

$SHEL
Equities

Shell Accepts $6.3 Billion of Notes in Exchange Offers

Shell (SHEL) received valid tenders for about $6.3 billion of outstanding unregistered notes in its previously announced exchange offers, the oil giant said Thursday.The company said about $6.3 billion of restricted notes were exchanged for an equal amount of newly registered notes issued by Shell Finance US and guaranteed by Shell.Settlement of the exchange offers is expected on July 13, it added.

$SHEL
Sectors

Sector Update: Energy Stocks Higher Late Afternoon

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 2.6% and the State Street Energy Select Sector SPDR ETF (XLE) adding 2.9%.The Philadelphia Oil Service Sector Index was climbing up 2.6%, and the Dow Jones US Utilities Index rose 1.4%.In geopolitical news, Iran's Revolutionary Guard Corps fired missiles at vessels in the Strait of Hormuz, striking a liquefied natural gas carrier, according to media reports. "Oil prices and especially LNG rose after a Qatari LNG ship was struck by a projectile near the Omani coast as it exited the Strait of Hormuz, raising unease among shipowners while once again testing a US-Iran agreement intended to halt attacks and keep the narrow strait open," Saxo Bank said in a note.Front-month West Texas Intermediate crude oil jumped 5% to $72.00 a barrel, and the global benchmark Brent crude contract climbed 5.1% to $75.69 a barrel. Henry Hub natural gas futures added 0.5% to $3.26 per 1 million BTU.In corporate news, Shell (SHEL) expects Q2 oil-and-gas production volumes will decline due to Persian Gulf hostilities, but profit margins will swell, the energy giant reported Tuesday. Separately, Shell has agreed to sell its Shell Downstream South Africa retail and wholesale fuel business to Abu Dhabi's ADNOC Distribution at an implied enterprise value of $1 billion, ADNOC said Tuesday. Shell shares gained 4.7%.TotalEnergies (TTE) will discuss moving toward an offshore exploration contract with Syria, but Chief Executive Patrick Pouyanne said security concerns prevent a return to onshore oil operations for now, Reuters reported. Shares were up 3.1%.Peabody Energy (BTU) was selected by the US Department of Energy for funding to advance rare earth and critical mineral recovery from its Wyoming Powder River Basin resources, the company said Tuesday. Peabody shares were 0.4% higher.Equinor's (EQNR) chief crude trader David Barratt resigned from the company this week, Bloomberg reported. Barratt led the company's global crude-trading book from London, according to the report. Equinor shares rose 6.3%.

$BTU$EQNR$SHEL$TTE
Sectors

Sector Update: Energy

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 2.6% and the State Street Energy Select Sector SPDR ETF (XLE) adding 2.9%.The Philadelphia Oil Service Sector Index was climbing 2.6%, and the Dow Jones US Utilities Index rose 1.4%.In geopolitical news, Iran's Revolutionary Guard Corps fired missiles at vessels in the Strait of Hormuz, striking a liquefied natural gas carrier, according to media reports. "Oil prices and especially LNG rose after a Qatari LNG ship was struck by a projectile near the Omani coast as it exited the Strait of Hormuz, raising unease among shipowners while once again testing a US-Iran agreement intended to halt attacks and keep the narrow strait open," Saxo Bank said in a note.Front-month West Texas Intermediate crude oil jumped 5% to $72.00 a barrel, and the global benchmark Brent crude contract climbed 5.1% to $75.69 a barrel. Henry Hub natural gas futures added 0.5% to $3.26 per 1 million BTU.In corporate news, Shell (SHEL) expects Q2 oil-and-gas production volumes will decline due to Persian Gulf hostilities, but profit margins will swell, the energy giant reported Tuesday. Separately, Shell has agreed to sell its Shell Downstream South Africa retail and wholesale fuel business to Abu Dhabi's ADNOC Distribution at an implied enterprise value of $1 billion, ADNOC said Tuesday. Shell shares gained 4.7%.

$SHEL
Oil & Energy

TotalEnergies Taken to Court by Environmental Groups Over Nigeria Oil Asset Sale

Environmental charity Friends of the Earth France and several other non-profit organizations are taking French energy major TotalEnergies (TTE) to court to obtain clarity on "opaque" sale terms regarding oil assets in the Niger Delta, it said Wednesday.Friends of the Earth France, along with Hawkmoth, HEDA Resource Centre and Social Action, have turned to a Paris judicial tribunal for clarification on the terms of Total's divestment in the Renaissance joint venture in Nigeria to verify whether the company has complied with its duty of vigilance."While the Niger Delta is known to be ravaged by oil exploitation, no information has been made public regarding the guarantees provided for addressing environmental damage and compensating affected people," the statement said."The documents, requested through summary proceedings and "before any legal action," would allow organizations to verify whether Total has complied with its duty of vigilance."About 9-13 million barrels of hydrocarbons have been spilled in the Niger Delta between 1958 and 2010 by oil companies, rendering its land unusable and water unfit for consumption, the statement said.As per the French law on the duty of vigilance, TotalEnergies is required to show that selling its stake will not further harm the people living near its oil and gas extraction sites and that adequate remediation are in place.According to the statement, a gradual withdrawal of established energy companies like Shell (SHEL), Total, and Eni from the region is hurting clean-up efforts and the future of affected populations.In March last year Shell sold its subsidiary Shell Petroleum Development Company, operator of the oil and gas assets held by the SPDC joint venture, to Renaissance Africa Energy, which is now its operator.The company has contributed to significant hydrocarbon pollution of the Niger Delta over the last 30 years, the statement said.Shell argues on its website, in detailing a case it is fighting in England over Niger Delta pollution, that illegal oil theft and illegal refining caused most of the spillage, that it has cleaned it up regardless and obtained Nigerian certification of this.Total subsidiary TotalEnergies EP Nigeria in January reached an agreement for the sale of its 10% stake in the Renaissance JV to Nigerian consortium, Vaaris, while ENI is also looking to sell its stake."This withdrawal of major European oil companies, conducted in complete secrecy, is causing serious concern among those most directly affected, as well as local and international associations: no information has been provided regarding guarantees for the remediation of polluted areas and compensation for those affected. The cleanup of the region could therefore be jeopardized," the statement said.

$SHEL$TTE
Commodities

Shell's Na Kika Sale Supports Portfolio Strategy With Limited Production Impact, TPH Says

Shell's (SHEL) agreement to sell its 50% non-operated interest in the Na Kika platform and associated fields is a modest positive because it advances the company's portfolio rationalization strategy with minimal production impact, TPH Energy Research Analyst, Jeoffrey Lambujon, said in a note on Wednesday.Shell said it would sell the assets, including its wholly owned Coulomb tieback, to a subsidiary of Talos Energy and Ridgewood Energy in a deal valued at up to $1.7 billion.According to TPH, the transaction is consistent with Shell's Gulf of America strategy of concentrating on operated, high-margin deepwater assets while monetizing mature, non-core holdings. The brokerage noted that Na Kika, which began production in 2003, was Shell's only non-operated platform in the region, while the Coulomb tieback entered production in 2005.Lambujon said the sale should have only a minimal effect on Shell's production. The assets accounted for approximately 37,000 barrels of oil equivalent per day, or about 1.2% of the company's upstream production in fiscal 2025, and were not expected to make a meaningful contribution by 2030.TPH also said proceeds from the sale could help offset the balance-sheet impact of Shell's recent acquisition of ARC Resources Ltd., supporting the company's framework for distributing 40% to 50% of cash flow from operations to shareholders.Under the agreement, Shell will retain production offtake rights through negotiated arrangements, while the buyers will assume certain decommissioning obligations. The transaction is expected to close by the end of 2026, although BP (BP), the operator of Na Kika, has a 30-day right of first refusal.Price: $76.63, Change: $-0.91, Percent Change: -1.17%

$BP$SHEL
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Wednesday Ahead of Fed Chair Warsh's International Debut

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.2%, and the actively traded Invesco QQQ Trust (QQQ) retreated by 0.5% in Wednesday's premarket activity, ahead of remarks from Federal Reserve Chair Kevin Warsh in his first international speech at the European Central Bank's annual forum in Portugal.US stock futures were also lower, with S&P 500 Index futures down 0.2%, Dow Jones Industrial Average futures slipping 0.3%, and Nasdaq futures retreating 0.4% before the start of regular trading.Mortgage applications rose by 0.04% in the week ended June 26, according to Mortgage Bankers Association data released Wednesday.Outplacement firm Challenger, Gray & Christmas said on Wednesday that companies planned to cut 45,849 jobs in June, well below 97,006 in May and down from 47,999 a year ago.ADP's monthly measure of private payrolls showed a 98,000 increase in June, well below expectations compiled by Bloomberg as of 7:35 am ET for an increase of 120,000.Warsh is slated to speak at 9 am ET.The final Purchasing Managers' manufacturing index for June will be released at 9:45 am ET, followed by the Institute for Supply Management's manufacturing index for the same month at 10 am ET.The weekly EIA domestic petroleum inventories report is due at 10:30 am ET.In premarket action, bitcoin was down by 0.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.6% lower, Ether ETF (EETH) retreated by 0.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.1%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.4%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were flat.Bloom Energy (BE) stock was up more than 7% before the opening bell after Brookfield Asset Management (BAM) expanded its strategic partnership with Bloom, increasing its financing framework for artificial intelligence infrastructure power projects to $25 billion from $5 billion.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.3%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.5% higher.Klarna (KLAR) shares traded up more than 7% in early hours activity after a court ruled in favor of its PriceRunner unit, awarding it $1.97 billion in damages in an antitrust lawsuit against Alphabet's (GOOG, GOOGL) Google.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.04%, the Vanguard Health Care Index Fund (VHT) was up 0.2%, while the iShares US Healthcare ETF (IYH) slipped 0.03%. The iShares Biotechnology ETF (IBB) was 0.1% lower.Alvotech (ALVO) stock was up more than 3% premarket after the company said it has amended its agreements with GoldenTree Asset Management and other lenders to obtain a term loan facility of up to $75 million in additional capital.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated by 0.2%, and the iShares US Consumer Staples ETF (IYK) was up 0.2%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained marginally by 0.02%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was inactive.Kroger (KR) shares were down more than 2% pre-bell after the company said it has agreed to acquire regional supermarket chain Giant Eagle in a $1.65 billion deal, expanding its presence across northern Ohio, western Pennsylvania, West Virginia, Maryland and Indiana.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.7%, and the iShares US Technology ETF (IYW) was 0.1% lower, while the iShares Expanded Tech Sector ETF (IGM) was up 0.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 0.6%, while the iShares Semiconductor ETF (SOXX) fell by 1.6%.Microsoft (MSFT) shares were up more than 1% in Premarket activity after Business Insider reported the technology giant is planning to cut "thousands" of roles in sales and consulting, in addition to its Xbox gaming division.EnergyThe iShares US Energy ETF (IYE) was 1.5% higher, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.3%.Shell (SHEL) stock was down more than 1% before market open, a day after Bloomberg News reported the company is close to a deal to sell over 600 retail fuel outlets in South Africa to Abu Dhabi National Oil's retail arm for a deal valued at around $1 billion.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.5% to $69.14 per barrel on the New York Mercantile Exchange. Natural gas was down by 1.3% to $3.23 per 1 million British Thermal Units. The United States Oil Fund (USO) declined by 1.5%, while the United States Natural Gas Fund (UNG) was 0.6% lower.Gold futures for July were up by 0.2% to $4,046.90 an ounce on the Comex. Silver futures was down by 0.9% to $59.40 an ounce. SPDR Gold Shares (GLD) advanced by 0.3%, and the iShares Silver Trust (SLV) was 0.6% lower.

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

Update: Market Chatter: Shell Close to Deal to Sell South Africa Fuel Outlets to Abu Dhabi National Oil's Retail Arm for $1 Billion

(Updates with Shell's response in the fifth paragraph.)Shell (SHEL) is close to a deal to sell over 600 retail fuel outlets in South Africa to Abu Dhabi National Oil's retail arm for a deal valued at around $1 billion, Bloomberg reported Tuesday, citing people familiar with the matter.The deal would give Adnoc Distribution control of 10% of South Africa's market, the report said.The sale would help Shell's plan of shedding non-core holdings, the report said.No final agreement has been reached, the report said.Shell declined to comment, and Adnoc Distribution did not immediately reply 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
Commodities

Shell to Sell Gulf of Mexico Assets to Talos, Ridgewood for $1.7 Billion

Shell Offshore, a unit of Shell (SHEL), agreed to sell Gulf of Mexico upstream assets to Talos Energy (TALO) and Ridgewood Energy for $1.7 billion, the company said Tuesday.Talos and Ridgewood subsidiaries will acquire Shell's 50% non-operated working interest in the Na Kika platform and associated fields, together with the company's 100% interest in the Coulomb tieback.The purchase price remains subject to customary closing adjustments and contingent payments, Shell said.Shell said its deepwater portfolio benefits from extensive infrastructure, operating efficiency and scale. It also noted that it remains the only international oil company with leading positions in both the Gulf of Mexico and Brazil, two of its highest-margin and lower-carbon producing regions.The transaction takes effect from July 1, 2025, and the companies expect to complete the deal by the end of 2026, subject to receiving the required regulatory approvals.Peter Costello, Shell's upstream president, said the company continues to optimize its Gulf of Mexico portfolio to strengthen the resilience and competitiveness of its upstream business."We remain focused on sustaining our material liquids production into the next decade," Costello said.

$SHEL$TALO
Equities

Talos Energy to Acquire Deepwater Gulf of America Assets From Shell for $850 Million

Talos Energy (TALO) on Tuesday agreed to jointly acquire deepwater assets in the Gulf of America from Shell Offshore (SHEL), alongside an affiliate of Ridgewood Energy, for $850 million in cash, with Talos expecting its net consideration to be approximately $450 million to $500 million after estimated interim cash flows from the assets.The acquired interests include a 50% working interest and operatorship in the Coulomb field and a 25% non-operated stake in the BP-operated Na Kika platform and four associated fields, the company said.Talos plans to fund the deal through cash on hand and debt, and has secured $150 million in incremental lender commitments, raising its borrowing base to $850 million from $700 million upon closing. The deal is expected to close by year-end 2026, according to the company.

$BP$SHEL$TALO
Sectors

Sector Update: Energy Stocks Decline Late Afternoon

Energy stocks were lower late Tuesday afternoon, with the NYSE Energy Sector Index easing 0.4% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.6%.The Philadelphia Oil Service Sector Index rose 0.5%, and the Dow Jones US Utilities Index retreated 1.2%.Front-month West Texas Intermediate crude oil fell 0.9% to $70.13 a barrel, and the global benchmark Brent crude contract eased 0.3% to $72.92 a barrel. Henry Hub natural gas futures rose 2.5% to $3.26 per 1 million BTU.In sector news, US envoy for the Middle East Steve Witkoff and President Donald Trump's son-in-law Jared Kushner are in Doha to meet Qatari mediators, CNN reported Tuesday, citing Qatar's Foreign Ministry spokesperson. The US duo will not meet with Iranian officials, the news report added.Separately, the US Federal Communications Commission is drafting a rule that would ban imports of foreign inverters, which connect solar projects and batteries to the grid, due to concerns China could disrupt power supplies with them, Reuters reported.In corporate news, Sable Offshore (SOC) shares tumbled 57%. Bloomberg reported that JPMorgan Chase (JPM), which is running a stock and note offering from Sable, has seen limited investor demand for a loan paying 15%.Air Products and Chemicals (APD) shares jumped 8% after it said Tuesday it will not proceed with the Louisiana Clean Energy Project due to expected financial returns that do not meet stringent return criteria.Shell (SHEL) is close to a deal to sell over 600 retail fuel outlets in South Africa to Abu Dhabi National Oil's retail arm for a deal valued at around $1 billion, Bloomberg reported. Shell shares rose 0.8%.Gulfport Energy (GPOR) has acquired roughly 4,700 net undeveloped acres in Ohio's Utica region for about $83 million, expanding its gas inventory in the area, the company said Monday. Its shares were up 2.5%.

$APD$GPOR$SHEL$SOC

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