Shell agrees sale of French mobility unit to DCC Energy, source says
Shell is set to sell its domestic gas distribution business in Nigeria to Vaaris Energy, sharpening its focus on high-return projects.
In the latest trading session, Shell (SHEL) closed at $102.99, marking a +1.38% move from the previous day.
Shell to sell its Nigeria gas business to Vaaris Energy
SHEL is acquiring a 30% stake in Canada's proposed Bay du Nord oil project from EQNR, targeting long-term growth while maintaining capital discipline.
SHEL partially restarts its Pearl GTL plant in Qatar as naphtha shipments resume, but full recovery hinges on repairs and regional shipping security.
SHEL's Q3 outlook points to stronger Integrated Gas production and refining margins, while lower LNG volumes and upstream write-offs remain key factors to watch.
RBC has nudged down its third-quarter profit forecast for Shell PLC (LSE:SHEL, NYSE:SHEL) after the energy major's trading update, while simultaneously lifting its cash flow estimate, leaving a mixed but broadly constructive picture for the stock. The broker, which rates Shell sector perform with a 4,000 pence target, cut its adjusted net income estimate for the quarter from $12.0 billion to $11.5 billion, though that still sits well above the $9.5 billion consensus.
Shell (SHEL) is well positioned to outperform the market, as it exhibits above-average growth in financials.
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Shell PLC (LSE:SHEL, NYSE:SHEL), the global energy group, said refining margins strengthened sharply in the third quarter while integrated gas production increased following the acquisition of ARC Resources. Shell expects its indicative refining margin to rise to $42 a barrel from $24 in the second quarter, although its indicative chemicals margin is forecast to fall to $208 a tonne from $270.
Refining margins came in at $42 a barrel in the third quarter compared with $24 a barrel in the second, driven by volatility stemming from the conflict in the Middle East.