Shell's Upcoming Earnings: A Beat Seems Likely, Don't Expect A Surging Share Price
Shell is expected to beat earnings and likely revenue, but this doesn't translate into a buy recommendation due to my expectation of a muted market response. Shell's earnings history under CEO Wael Sawan shows mixed results, with a rough start but a recent string of beats. The company continues to make significant buybacks, but oil and gas sector weakness and valuation concerns suggest holding rather than buying.
Shell set for low key third quarter after refining warning
Shell PLC (LSE:SHEL, NYSE:SHEL) has already flagged a sharp decline in refining profit margins for the third quarter due to weaker global demand though it upgraded its LNG and upstream oil forecasts. Jefferies expects the Anglo-Dutch giant, which will release its results on October 31, to post a net income of $5.4 billion for the third quarter.
Shell setback upsets Nigeria's quest to lure investment
Nigeria's decision this week to block Shell's $2.4 billion sale of its onshore assets has sent a negative signal to investors the country urgently needs to strengthen its all-important oil sector, analysts said.
Shell enters deal to buy RISEC Holdings
Shell plc said on Wednesday its unit, Shell Energy North America, has agreed to acquire 100% equity stake in RISEC Holdings, the owner of a 609-megawatt gas power plant in Rhode Island.
German court rejects Rosneft's challenge to Shell's refinery stake sale
A German court on Wednesday dismissed a complaint by Russian oil firm Rosneft against Shell's planned sale of a stake in Germany's Schwedt refinery, a spokesperson for the court said.
Nigeria fails to approve Shell asset sale to Renaissance
Nigeria has failed to approve the sale of Shell's entire onshore and shallow-water oil and gas in the Niger Delta region to Renaissance, the country's upstream regulator said on Monday.
Shell's Onshore Oil Field Sale Worth $1.3B in Nigeria Suffers Setback
SHEL's onshore oil market divestment gets stalled by the Nigerian oil regulator as the Renaissance Group is deemed unqualified to manage the assets.
Shell and Singapore Port Authority contain pipeline leak
Major energy company Shell and Singapore's Maritime and Port Authority deployed clean-up measures after a leak from a land-based pipeline, they said on Sunday.
Shell (SHEL) Beats Stock Market Upswing: What Investors Need to Know
In the latest trading session, Shell (SHEL) closed at $66.64, marking a +0.85% move from the previous day.
Petrobras, Shell and CNOOC Sign Contracts to Expand in Brazil
PBR signs contracts for offshore blocks in Brazil along with Shell and CNOOC, solidifying its diversification plan and boosting energy reserves for the future.
Shell's $1.3bn Nigerian business sale reportedly blocked
Shell PLC (LSE:SHEL, NYSE:SHEL) has reportedly seen proposals to sell its Nigerian business blocked by the country's oil regulator. Local newspaper ThisDay reported on Wednesday that the US$1.3 billion sale had not been approved since buyer Renaissance Group was not qualified to manage the projects.
Nigeria rejects Shell's $1.3 billion oil asset sale, ThisDay reports
Nigeria's oil regulator has rejected Shell's proposed $1.3 billion sale of its onshore oilfields to Renaissance group because the buyer is not qualified to manage the assets, Lagos-based ThisDay newspaper reported on Wednesday.
