Latest news with #SHEL
Yahoo
19 hours ago
- Business
- Yahoo
Eni & Shell to Cease Gas Plant Development in Kazakhstan Amid Disputes
Eni SpA E and Shell plc SHEL have received orders from Kazakhstan government to terminate their plans for the construction of a gas processing plant at the Karachaganak gas and condensate development. Authorities in Kazakhstan have resorted to this move due to ongoing disputes over the project's cost and its timeline, both of which remain uncertain. On May 17, a government agency in Kazakhstan, responsible for overseeing the protection of state interests, sent a letter to the shareholders of the Karachaganak gas project. In this letter, the agency asked the shareholders to cease all activities related to the gas processing plant immediately. The letter mentioned that the reason for this decision was the rising costs associated with the project and the delay in its estimated time of completion. Per a Bloomberg report, the cost associated with the development of the gas processing plant has increased to $6 billion. The report further stated that the group of international companies involved in this project, led by Shell and Eni, has pushed back the planned completion of the facility to 2030 from the previously stated date in 2028. The companies have also asked the government of Kazakhstan to support them by contributing approximately $1 billion toward the project's expenses. The financial help from the government would help the companies make the project commercially feasible. In light of these developments, the Kazakh government is considering an alternative to develop the refinery independently. Both E and SHEL currently carry a Zacks Rank #4 (Sell). Some better-ranked stocks from the energy sector are Flotek Industries Inc. FTK and Energy Transfer ET. While Flotek Industries sports a Zacks Rank #1 (Strong Buy) at present, Energy Transfer carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Flotek Industries specializes in green chemistry, which provides innovative solutions aimed at reducing the environmental impact of the energy industry. Flotek develops specialty chemicals tailored for both domestic and international energy producers, as well as oilfield service companies. These chemicals not only help reduce the environmental impact of hydrocarbon production but also lower operational costs. Energy Transfer is a midstream player that owns and operates one of the most diversified portfolios of energy assets in the United States. Boasting a pipeline network extending more than 130,000 miles, its network spans over 44 states. With a presence in all the major U.S. production basins, ET's outlook seems positive. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Eni SpA (E) : Free Stock Analysis Report Energy Transfer LP (ET) : Free Stock Analysis Report Flotek Industries, Inc. (FTK) : Free Stock Analysis Report Shell PLC Unsponsored ADR (SHEL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
28-05-2025
- Business
- Yahoo
Shell Reshapes Operations in Indonesia With Fuel Business Divestment
Shell plc's SHEL Indonesian affiliate has taken a bold step in reshaping its business strategy by divesting fuel retail operations to a joint venture between Citadel Pacific Limited and Sefas Group. This transaction includes the transfer of around 200 gas stations and a fuel storage terminal located in Gresik, with completion expected by next year. Despite this move, Shell remains firmly rooted in Indonesia. The company emphasized that it will continue to operate under brand licensing agreements, maintaining visibility and legacy in the region. The acquiring joint venture brings together the strengths of two long-standing Shell partners. Citadel Pacific, a private holding company based in the Philippines, has its presence across various industries like aviation-related services, telecommunication, gas distribution and fuel marketing. The company licenses the Shell brand across multiple territories, including Guam, Hong Kong and Macau. Sefas Group, on the other hand, is Indonesia's largest Shell lubricants distributor. Their collaboration signals continuity for customers and partners, backed by a solid history of representing the Shell brand across various markets. While Shell is stepping away from fuel retailing, it is optimizing the portfolio by doubling down on the lubricants business in Indonesia, a market described as key for growth. Shell operates a major lubricant blending plant in the country with a capacity of up to 300 million litres annually and a new grease manufacturing plant is currently under construction. With this repositioning, Shell reinforces its strengths in high-growth, high-margin segments that can alleviate its profitability in the future. London-based Shell is one of the primary oil supermajors, a group of U.S. and Europe-based big energy multinationals with operations that span almost every corner of the globe. Currently, SHEL has a Zacks Rank #5 (Strong Sell). Investors interested in the energy sector might look at some better-ranked stocks like Flotek Industries, Inc. FTK, Global Partners LP GLP and RPC, Inc. RES. While Flotek Industries and Global Partners currently sport a Zacks Rank #1 (Strong Buy) each, RPC carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Flotek Industries develops and delivers prescriptive chemistry-based technology, including specialty chemicals, to clients in the energy, consumer industrials and food & beverage industries. The Zacks Consensus Estimate for FTK's 2025 earnings indicates 55.88% year-over-year growth. Global Partners is a Delaware limited partnership formed by affiliates of the Slifka family. The company owns, controls or has access to one of the largest terminal networks of refined petroleum products in New England. The Zacks Consensus Estimate for Global Partners' 2025 earnings indicates 17.84% year-over-year growth. Atlanta, GA-based RPC is an oilfield service provider in almost all of the prospective plays, like the Rocky Mountain regions, Appalachian area, Gulf of Mexico and other resources in the United States. The Zacks Consensus Estimate for RES' next quarter earnings indicates 33.33% growth. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Global Partners LP (GLP) : Free Stock Analysis Report RPC, Inc. (RES) : Free Stock Analysis Report Flotek Industries, Inc. (FTK) : Free Stock Analysis Report Shell PLC Unsponsored ADR (SHEL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
02-05-2025
- Business
- Yahoo
Shell Stock Climbs on Strong Earnings, $3.5B Buyback Boost
Shell shares climbed Friday after the energy giant posted stronger-than-expected quarterly results and announced a $3.5 billion share buyback program. The company said its $3.5 billion buyback plan, the same as in the fourth quarter of 2024, marked its 14th consecutive quarter of authorizing at least $3 billion in share repurchases. Unlike Shell, however, rival BP cut its first-quarter share buybacks amid economic (SHEL) shares climbed Friday after the energy giant posted stronger-than-expected quarterly results and announced a $3.5 billion share buyback program. Shell posted first-quarter adjusted earnings of $5.58 billion, or $0.92 per share, beating expectations from analysts polled by Visible Alpha. The company said its $3.5 billion buyback plan, the same as in the fourth quarter of 2024, marked its 14th consecutive quarter of authorizing at least $3 billion in share repurchases. 'Our strong performance and resilient balance sheet give us the confidence to commence another $3.5 billion of buybacks for the next three months, consistent with the strategic direction we set out at our Capital Markets Day in March,' Shell CEO Wael Sawan said. Like rival BP (BP), Shell is in the midst of pivoting away from a low-carbon strategy. These results are its first since it said in March at its capital markets day that it would grow its upstream and integrated gas business by 1% annually through 2030. Unlike Shell, however, BP cut its first-quarter share buybacks amid economic uncertainty. Shell shares rose about 3% in early trading Friday and have added about 6% since the start of the year. Read the original article on Investopedia
Yahoo
02-05-2025
- Business
- Yahoo
Shell: Q1 Earnings Snapshot
LONDON (AP) — LONDON (AP) — Shell plc (SHEL) on Friday reported first-quarter profit of $4.78 billion. On a per-share basis, the London-based company said it had net income of $1.58. Earnings, adjusted for non-recurring costs, were $1.84 per share. The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.54 per share. The oil and gas company posted revenue of $70.15 billion in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on SHEL at Sign in to access your portfolio
San Francisco Chronicle
02-05-2025
- Business
- San Francisco Chronicle
Shell: Q1 Earnings Snapshot
LONDON (AP) — LONDON (AP) — Shell plc (SHEL) on Friday reported first-quarter profit of $4.78 billion. On a per-share basis, the London-based company said it had net income of $1.58. Earnings, adjusted for non-recurring costs, were $1.84 per share. The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.54 per share. The oil and gas company posted revenue of $70.15 billion in the period.
