Shell plc (SHEL) is facing challenges in its efforts to divest its stake in the Shell Petroleum Development Company of Nigeria Limited to Renaissance. The Nigerian Upstream Petroleum Regulatory Commission ("NUPRC") has rejected Shell International's proposal to sell its onshore assets in Nigeria to Renaissance. The deal was valued at $2.4 billion during the time of the announcement. However, the value has reportedly dropped to $1.3 billion at present. Per the Petroleum Industry Act, the regulatory commissio ...

Shell plc (SHEL) , the British energy major, has stated that it will shut down certain parts of its Zydeco pipeline system to conduct maintenance activities. The shutdown, which is expected to last for three to four days, beginning Sept. 24, 2024, will likely restrict the flow of some light crude to Louisiana. Per Shell Midstream Partners, the Zydeco pipeline eases transportation bottlenecks for the crude that arrives in Houston from the prolific Eagle Ford shale, and the Permian and Bakken regions. The shu ...

Jeremy Poland Providing energy security, Enabling the energy transition $6.3 billion Performance Adia sted Earnings Discipline ook for 2024 $13.5 billion Simplification CFFO $0.344 es in Q2 2024; $6.1 billion' Enhancing Dividend per shore Shareholder $13.5 billion of $3.5 billion Returns 43% of CFFO diatributed over the last tw Buyback progra Royal Dutch Shell (NYSE: SHEL) is one of the largest oil companies in the world, with a market capitalization of roughly $225 billion. European oil companies are known ...

Shell plc (SHEL) , the British energy major, has proceeded with the Final Investment Decision ("FID") on a waterflood project at its Vito deepwater field, located in the U.S. Gulf of Mexico. Shell Offshore Inc., a subsidiary of Shell, has taken the FID on the project to enhance the production capacity at the deepwater field. The project involves injecting water into the hydrocarbon reservoir. Waterflood is a secondary recovery method where water is injected into the hydrocarbon formation. The injected water ...

London-based energy giant Shell plc (SHEL) and Asian behemoth PetroChina's ongoing expansion of the Surat Gas Project ("SGP") marks a significant step in enhancing their liquefied natural gas ("LNG") production capacity. Surat Gas Project: Things to Know As partners in the Arrow Energy joint venture, the two companies are committing to phase two of this ambitious Australian development, set to produce 130 million cubic feet per day at peak. By 2026, gas from SGP North will supply Shell's Queensland Curtis L ...

Global economies are progressively shifting toward cleaner energy sources, and energy companies are facing growing pressure to address climate change from various angles. While most analysts agree that renewable energy will play a significant role in meeting future energy demands, it is unlikely to entirely eliminate the need for oil and natural gas. Fossil fuel demand is expected to continue growing, albeit at a slower rate. The U.S. Energy Information Administration, in its Annual Energy Outlook 2023, sta ...

Wilmington, Delaware, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Badaam (Almond With Shell) Snack Market by Product Type (Roasted, Spicy, Salted and Others), and Distribution Channel (Supermarkets/hypermarkets, Franchised Stores, Online Stores and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the badaam (Almond with shell) snack market was valued at $3.3 billion in 2023, and is estimated to reach $5.2 billion by 20 ...

Core Viewpoint - Shell reported a solid H1 performance with increased production, particularly in gas, and improved chemical margins, supported by a $2-3 billion structural cost savings plan aimed at enhancing efficiency and streamlining operations [1][6]. Production and Financial Performance - H1 profit decreased by 5% due to lower prices, despite a 2% increase in average daily production to approximately 2.9 million barrels of oil equivalent per day (Mboe) [2][3]. - Liquids production slightly declined, with a liquids mix falling to 52% [2][3]. - LNG production remained stable at around 14.53 million tonnes (Mt) [2][3]. - Adjusted earnings for H1 2024 were $14.0 billion, down 5% from H1 2023, but earnings per share increased by 2% to $4.38 [2][3]. Cost Management and Capital Expenditure - Shell achieved approximately $1.7 billion in structural cost savings as of H1 2024, with a target of $2-3 billion by 2025 [6][7]. - Cash capital expenditures for H1 were $9.2 billion, about 21% lower than the previous year, with full-year guidance maintained at $22-25 billion [4][5]. Strategic Acquisitions and Growth Initiatives - The acquisition of Pavilion Energy is expected to enhance LNG trading capabilities, with a contracted supply volume of about 6.5 million tonnes per year, supporting a projected 20-30% LNG growth through 2030 [2][6]. - New projects in Oman, the Gulf of Mexico, Brazil, and Malaysia have contributed to an additional 250,000 barrels of oil equivalent per day (kboe/d) of production, with a target of 500,000 kboe/d by the end of 2025 [7][9]. Future Outlook - Shell's focus on low-risk, high-margin projects is anticipated to improve barrel margins, with a majority of upcoming completions being liquids-rich developments [9][10]. - Namibia's potential reserves of approximately 4.9 billion barrels of oil equivalent (bboe) could play a significant role in extending production levels into the next decade [10].

Shell NYSE: SHEL, the world's fifth-largest oil and gas company, reported Q2 2024 financial results on Aug. 1, 2024. The company has delivered returns above its sector in 2024, with a total return of 13%. The Energy Select Sector SPDR Fund NYSEARCA: XLE has returned 10%. An improved understanding of Shell's business will be provided by examining key sections of the company's annual report, reviewing the latest earnings release, and discussing Shell's capacity to deliver shareholder value. Get Chevron alerts ...

Investment Rating - The report maintains a positive outlook on Shell, with an expectation of strong performance in the upcoming quarters, particularly due to robust growth in upstream and marketing sectors [1][2]. Core Insights - Shell's adjusted net income for Q2 2024 is projected at $6.293 billion, exceeding market expectations of $5.980 billion, driven by strong performance in upstream and marketing divisions [1][2]. - The company has reaffirmed its capital expenditure guidance for FY 2024 at $22-25 billion, slightly below market expectations of $22.8 billion [1]. - A new share buyback program of $3.5 billion has been announced, expected to be completed by Q3 2024 [1]. Summary by Sections Overall Performance - Shell reported an adjusted net income of $6.293 billion for Q2 2024, a 24% increase year-over-year from $5.073 billion in Q2 2023, and a decrease of 19% from $7.734 billion in Q1 2024 [2][3]. - The company's revenue for Q2 2024 was $74.463 billion, showing a 3% quarter-over-quarter increase and no change year-over-year [3]. Upstream Business - The upstream segment's adjusted net income reached $2.336 billion, a 21% increase quarter-over-quarter and a 39% increase year-over-year [2][3]. - Oil and gas production was reported at 1,783 thousand barrels of oil equivalent per day, a 5% decrease from the previous quarter [2]. Marketing Business - The marketing segment achieved an adjusted net income of $1.082 billion, a 39% increase quarter-over-quarter and a 21% increase year-over-year [2][3]. - Sales volume expectations for Q3 2024 remain stable at 2,700-3,200 thousand barrels per day [2]. Chemicals and Products - The chemicals and products segment reported an adjusted net income of $1.085 billion, a 33% decrease quarter-over-quarter due to declining refining margins [2][3]. - Refinery utilization was at 92%, with expectations for Q3 2024 dropping to 83-91% [2]. Renewable Energy and Solutions - The renewable energy and solutions segment reported an adjusted net loss of $187 million, a significant decline attributed to seasonal demand fluctuations [2][3].