Shell Share Discussion Threads

[sarkasm] 03/2/2021 18:33

Shell Q4 2020 Earnings Preview
Feb. 03, 2021 12:30 PM ETRoyal Dutch Shell plc (RDS.A)By: Akanksha Bakshi, SA News Editor

Shell (NYSE:RDS.A) is scheduled to announce Q4 earnings results on Thursday, February 4th, before market open.
The consensus EPS Estimate is -$0.16 and the consensus Revenue Estimate is $47.45B (-43.5% Y/Y).
Over the last 2 years, RDS.A has beaten EPS estimates 50% of the time and has beaten revenue estimates 75% of the time.
Over the last 3 months, EPS estimates have seen 1 upward revisions and 2 downward. Revenue estimates have seen 4 upward revisions and 5 downward.

[maywillow] 03/2/2021 08:59

Advance notice Royal Dutch Shell plc 2021 Strategy Day

Feb 3, 2021

Royal Dutch Shell plc will provide an update on the company during Strategy Day on Thursday February 11, 2021.

Strategy Day materials will be available on www.shell.com/investor on February 11 from 09:05 GMT (10:05 CET / 4:05 EST).


Webcast

Ben van Beurden, Chief Executive Officer and Jessica Uhl, Chief Financial Officer of Royal Dutch Shell plc will host a live Q&A analyst webcast of the 2021 Strategy Day on Thursday February 11, 2021 14:00 GMT (15:00 CET / 09:00 EST).

Registration is possible on www.shell.com/investor starting on February 8 and closing 2 hours before the webcast begins.

[la forge] 03/2/2021 05:47

Shell said to buy most on Platts in at least 10 years
Feb. 02, 2021 1:07 PM ETRoyal Dutch Shell plc (RDS.A)By: Carl Surran, SA News Editor4 Comments

Royal Dutch Shell (RDS.A, RDS.B) reportedly bought up the largest amount of North Sea oil in more than a decade during the market's main trading window for physical cargoes.

The company purchased five cargoes - Brent, Oseberg, Forties and two Ekofisk cargoes - on Monday during a period in which traders offer to buy and sell cargoes to determine benchmark crude prices published by S&P Global Platts, the largest in Platts' Market-on-Close since late 2008, according to data compiled by Bloomberg.

Even before Shell's move, the oil market had been strengthening, with prices trading in backwardation - effectively meaning traders are willing to pay hefty premiums to get hold of immediate supplies.

Brent crude futures soared today to a fresh 11-month high of more than $57/bbl, helped by Saudi Arabia's deep unilateral cuts to its oil production in February and March.

[waldron] 31/1/2021 21:26

4th quarter 2020

Event Date

Announcement date February 4, 2021

February 11, 2021 Shell Strategy Day

Ex- Dividend Date for ADS.A and ADS.B February 18, 2021

Ex- Dividend Date for RDS A and RDS B February 18, 2021

Record date February 19, 2021

Closing of currency election date (see Note below) March 05, 2021

Pounds sterling and euro equivalents announcement date March 15, 2021

Payment date March 29, 2021

Note
A different currency election date may apply to shareholders holding shares in a securities account with a bank or financial institution ultimately holding through Euroclear Nederland. This may also apply to other shareholders who do not hold their shares either directly on the Register of Members or in the corporate sponsored nominee arrangement. Shareholders can contact their broker, financial intermediary, bank or financial institution for the election deadline that applies.

[waldron] 27/1/2021 06:13

Rating agency S&P warns 13 oil and gas companies they risk downgrades as renewables pick up steam

Firms including Woodside, Chevron, Shell and Exxon Mobil, told they could be downgraded within weeks

Oil and gas companies have been told they could be downgraded between one and two notches as S&P increases risk rating for the entire sector.


Ben Butler
Wed 27 Jan 2021 02.02 GMT

Last modified on Wed 27 Jan 2021 02.22 GMT

167

Rating agency S&P has warned 13 oil and gas companies, including the some of the world’s biggest, that it may downgrade them within weeks because of increasing competition from renewable energy.

On notice of a possible downgrade are Australia’s Woodside Petroleum as well as multinationals Chevron, Exxon Mobil, Imperial Oil, Royal Dutch Shell, Shell Energy North America, Canadian Natural Resources, ConocoPhillips and French group Total.

S&P said it was also considering downgrading four large Chinese producers – China Petrochemical Corp, China Petroleum & Chemical Corp, China National Offshore Oil Corp and CNOOC.
Energy agency forecasts lower demand for oil as Covid cases surge


The rating agency said it had increased its risk rating for the entire oil and gas sector from “intermediate” to “moderately high” because due to the move away from fossil fuels, poor profitability and volatile prices.

It said it also had a negative outlook for two other big oil and gas companies, British multinational BP and Canadian group Suncor, but did not plan to immediately reassess their credit ratings.
Business Council of Australia backs Zali Steggall's climate change bill for 2050 net zero target


“In particular, we note significant challenges and uncertainties engendered by the energy transition, including market declines due to growth of renewables; pressures on profitability, specifically return on capital, as a result of high dollar capital investment levels over 2005-2015 and lower average oil and gas prices since 2014; and recent and potential oil and gas price volatility,” S&P said on Wednesday.

It said it did not plan to downgrade companies by more than one notch as a result of the risk to the industry as a whole.

“This said, we cannot exclude a combination of the industry risk revision and other material factors leading to a two-notch downgrade, especially given the potential for negative surprises after the Covid-19 impacts in 2020,” it said.

A two-notch downgrade would put Woodside at BBB-, which is one notch above a junk rating.

Woodside shares fell 3.25% on Wednesday morning.
BlackRock holds $85bn in coal despite pledge to sell fossil fuel shares
Read more

A lower credit rating can make it harder or more expensive for companies to borrow money. In particular, many fund managers will not invest in companies with a junk rating.

S&P’s move came after the world’s biggest funds manager, BlackRock, said it might dump shares in big greenhouse gas emitters in support of limiting global heating to 1.5C by 2050.

“I believe that the pandemic has presented such an existential crisis – such a stark reminder of our fragility – that it has driven us to confront the global threat of climate change more forcefully and to consider how, like the pandemic, it will alter our lives,” BlackRock chief executive Larry Fink said in a letter to CEOs.

[florenceorbis] 25/1/2021 10:22

Monday 25 January 2021 9:48 am
Shell to buy electric vehicle charging firm Ubitricity
Edward Thicknesse

Oil giant Shell has today announced that it will buy Ubitricity, the UK’s biggest electric vehicle charging network, for an undisclosed sum.

Read more: Shock to the system: Ofgem proposes new body to run electricity network

The Berlin-founded firm currently owns 2,700 EV charging points in the UK, about 13 per cent of market share.

The acquisition will allow Shell to expand its own charging network, which currently comprises over 1,000 charge points.

Ubitricity works with local authorities to integrate charging points into existing physical infrastructure, such as lampposts.

This is particularly helpful for those electric car drivers who do not have access to a private charger.

Before the Open: Get the jump on the markets with our early morning newsletter

Shell’s executive vice-president of global mobility, said: “Working with local authorities, we want to support the growing number of Shell customers who want to switch to an EV by making it as convenient as possible for them.

“On-street options such as the lamp post charging offered by ubitricity will be key for those who live and work in cities or have limited access to off-street parking.”

Shell is one of several oil behemoths to be targeting a wholesale revamp of its business as it seeks to embrace the coming “energy transition”.

The Anglo-Dutch firm has set itself the goal of being a net zero emissions outfit by 2050.


Last year it cut 9,000 jobs as the oil price collapse caused by the coronavirus pandemic expedited plans for restructuring the firm.

[waldron] 24/1/2021 12:02

Shell Egypt, Emirati Mubadala to explore for oil, natural gas in Red Sea
FeatureIndustry & TradeInvestment
By Amwal Al Ghad English On Jan 24, 2021
Shell's Egypt assets
Share

Egypt signed a new production sharing contract between the state-owned Ganoub El-Wadi Petroleum Holding Company (Ganope) and Shell Egypt to explore for oil and natural gas in the deep waters of the Red Sea.

Egypt’s Minister of Petroleum and Mineral Resources Tarek El-Molla has signed the agreement.

According to the agreement, Shell Egypt will explore in the Red Sea’s Bloc 4, an area of 3084 sq km, Shell Egypt said in a statement.

Shell Egypt acquired 63 percent equity share, Emirati Mubadala Petroleum 27 percent share, and Egyptian Tharwa Petroleum Company 10 percent of the contractor’s share, states the contract.

Khaled Kacem, country chairman and managing director of Shell companies in Egypt, said the new awarded concessions are in line with the company’s strategy to grow its business in gas projects in Egypt’s offshore areas, which supports the country’s sustainable development goals.

In December 2019, Ganope gave Shell Egypt the right to explore in two blocs in an international bid for oil and gas exploration in the Red Sea.

Shell Egypt has conducted several exploration missions in Egypt’s deep waters, such as the West Delta Deep Marine Phase 9B project.

In 2018, the Egyptian Natural Gas Holding Company held an international bid for oil and gas exploration in which Shell Egypt was granted exploration rights in blocs 4 and 6.

[florenceorbis] 24/1/2021 10:12

23 Jan, 22:33
Nord Stream 2 project stoppage may result in legal proceedings - German Minister
According to the Minister of Environment Protection and Nuclear Safety Svenja Schulze, Germany will need natural gas during the transitional period after the abandonment of coal-fired and nuclear power generation

BERLIN, January 24. /TASS/. The Nord Stream 2 gas pipeline project is close to completion and all the permits for its implementation were issued in line with principles of the rule of law, Germany’s Minister of Environment Protection and Nuclear Safety Svenja Schulze says in an interview with the Redaktionsnetzwerk Deutschland (RND).

"The decision on the pipeline construction was made many years ago. It is close to completion and received permits in accordance with principles of the rule of law," the Minister said. "If we stop the project now, we will inflict a great deal of harm, casting a doubt on reliability of decisions made on the basis of principles of the rule of law and would probably face court proceedings," Schulze noted.

Germany will need natural gas during the transitional period after the abandonment of coal-fired and nuclear power generation until it will be fully able to ensure energy supplies on account of renewable sources, the Minister said. "Germany barely has its own natural gas reserves, so we depend on import in this regard," she noted.

The Nord Stream 2 project contemplates the construction of two pipeline strings with a total capacity of 55 bln cubic meters per year from the coast of Russia through the Baltic Sea to Germany. To date, 94% of Nord Stream 2 has been finished.

[florenceorbis] 23/1/2021 10:55

February 4, 2021 Fourth quarter 2020 results and fourth quarter 2020 interim dividend announcement

February 11, 2021 Shell Strategy Day

[florenceorbis] 22/1/2021 09:16

Oil Majors Are Eyeing A Suriname Offshore Boom
By Felicity Bradstock - Jan 21, 2021, 12:00 PM CST
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Majors are eying Suriname as the next big oil player. With recent success in neighbouring Guyana, Suriname offers hope for low-cost oil exploration and production going into 2021. Exxon Mobil, Royal Dutch Shell, Total, Apache are all showing interest in the South American state, hoping Suriname will provide oil for as little as $30 to $40 a barrel thanks to lower production costs. This is well below the average US production cost of almost $50 per barrel.

After years of political unrest, Suriname is eager to make a name for itself in the oil world and encourage economic stability and growth. The hard-hit economy has been further hampered by the Covid-19 pandemic, with the new government looking at the country’s oil potential to drag them out of economic disaster.

Attracting oil investment from foreign companies only became possible after the successful discovery of oil in deep wells in 2015, following around 60 years of failure in shallow waters. At present, state-owned Suriname’s national oil company Staatsolie controls most of the industry.

To encourage investment, Suriname is offering companies 30-year production-sharing agreements, around 10 years longer than those of Latin America’s other oil-rich countries. Following a difficult 2020, emerging oil states such as Suriname and Guyana are expected to dominate licensing rounds this year with such attractive terms.

Oil experts believe there to be at least three to four billion barrels of reserves in Suriname’s waters, providing foreign companies with a bet worth taking for the future of the region’s oil.

Related: Canada Is Cleaning Up Its Oil Sands

Earlier this month, Total and Apache Corporation made an important oil and gas discovery off the coast of Suriname at the Keskesi East-1 well, in Block 58. This brings the total number of oil discoveries in the country to four in 2020, or 1.4 billion barrels of oil equivalent. Total’s Senior Vice President Exploration Kevin McLachlan stated “We are… excited, as new operator of the block, to start the appraisal operations designed to characterize the 2020 discoveries, while in parallel start a second exploration campaign on this prolific block in 2021.”.

In addition, ExxonMobil announced oil and gas finds in Suriname in December. Mike Cousins, Exxon’s Senior Vice President of exploration and new ventures, explained “Our first discovery in Suriname extends ExxonMobil’s leading position in South America, building on our successful investments in Guyana. We will continue to leverage our deepwater expertise and advanced technology to explore frontier environments with the highest value resource potential.”

One recent partnership that’s caught attention in the region is the contract between Maersk Drilling and Total E&P, valued at $100 million. The partnership’s deepwater oil rigs Maersk Valiant and Maersk Develop in Block 58 are expected to start operations this month.

Suriname hopes to follow in the footsteps of neighbouring Guyana, which has attracted significant foreign investment in its oil industry in recent years. Exxon in particular has been investing heavily in the region, commencing production in Guyana’s Liza oilfield in 2019; an area capable of pumping 120,000 bpd. Exxon is now looking to develop the Stabroek Block, having signed a sharing agreement with the government, expected to produce 750,000 bpd by 2026.

Oil production in Guyana could extend beyond the next 30 years, presenting an attractive opportunity for longer-term exploration and low-cost production. In 2020, Guyana had an anticipated economic growth of around 50 percent, mainly owing to its burgeoning oil industry. According to the IMF, the country can expect an average annual real GDP growth of around 13 percent over the next four years.

As companies are less willing to become entangled with neighbouring Venezuela, due to its complex political situation and current US sanctions, with the country’s oil exports falling to its lowest levels in 77 years in 2020, Guyana and Suriname offer a bright alternative.

While it is early days for drilling in Suriname, success in Guyana and a clear interest from international oil majors could put the small South American state on the map.

By Felicity Bradstock for Oilprice.com

[the grumpy old men] 21/1/2021 18:19

SHELL A : Gets a Buy rating from Jefferies
01/21/2021 | 08:47am GMT


Jefferies is positive on the stock with a Buy rating. The target price is unchanged at GBX 1780.

[maywillow] 19/1/2021 16:12

Shell: What It Will Take To Be Investible Again
Jan. 19, 2021 5:15 AM ET|
34 comments
|
About: Royal Dutch Shell plc (RDS.A), RYDAF, RDS.B, Includes: XOM
Retirement Pot
Retirement Pot
Long Only, Deep Value, Growth, Foreign Companies
(998 followers)
Summary

Shell's dividend cut and unpredictability last year cost it a lot of shareholder confidence.

I outline three metrics I think show whether it's investable again.

On all three metrics, I continue to see it as uninvestable with confidence.

U.K.-based oil major Shell (RDS.A, OTCPK:RYDAF) didn’t have a great time of it last year when it came to shareholder relations. With its mammoth dividend cut and poor signaling thereof before it was made, a lot of shareholders ditched the holding. I sold my entire stake and reinvested the proceeds in more Exxon Mobil (XOM).

Below, I outline what I think are the key challenges to Shell being investable at this point.
1. Shareholders Need Faith in Management

The single biggest challenge facing Shell’s prospects right now, in my view, is the low quality of its management from an investor’s perspective. The way that the dividend cut was handled was terrible. Shell is a key holding for many U.K. and Dutch holders, including pension funds and the like. So, a 70% cut just a couple of months after guiding investors not to expect a cut is simply not professional at all, in my view. It doesn’t behoove management of as large and economically important a listed company as Shell to behave in this way.

Management lost credibility with many shareholders, and frankly, it was on such a scale that I won’t have faith in current management again, period. I thought the chief executive ought to have done the decent thing and resigned.

But I also don’t see evidence that current management deserves to regain investor confidence even if one isn’t as critical of how they handled the dividend cut. For example, in comments accompanying the third quarter earnings presentation, the finance chief said:

“we re-based our dividend to protect our balance sheet in response to the profound impacts of the pandemic”.

That feels disingenuous to me. A 70% cut on an ongoing basis is not justifiable purely in terms of pandemic impact. The company seems to continue to message its shareholders without respecting their intelligence.

For me, this is the biggest issue at the moment when it comes to the investment case for Shell. Whatever its asset base or strategy, if it doesn’t have appropriately skilled, reliable management, it’s a speculative punt, not an investment.
2. Visibility on Future Earnings Streams

One of the big debates in the energy sector is future demand for oil and gas versus other forms of energy. I’ve set out elsewhere why I don’t think oil demand is going to fall anytime soon, but there are well-considered and very different perspectives across the spectrum of the debate. For an example, I recommend Tudor Invest Holdings’ piece Royal Dutch Shell: More Than Just Oil And Gas.

One approach, which I would say Exxon is taking, is doubling down on the core business of oil and gas. That is a straightforward play on future oil and gas demand and pricing.

An alternative approach is to move to an asset portfolio which over time produces more energy from sources other than oil and gas. Some are more environmentally damaging, in my view (wind turbines, for example), so I don’t use the moniker “green”. The point is, they’re not from oil and gas. A number of – primarily European – energy majors have committed to this approach. While it’s the case for Shell, it is also happening at BP (NYSE:BP), Total (NYSE:TOT) and Equinor (NYSE:EQNR), for example. So, Shell management is basically moving in lockstep with the European energy sector in its approach here, rather than acting independently.

However, in terms of being investable, the question is what this means for future earnings. Exxon’s approach is simple to understand: one needs to look at future demand, pricing and the company’s production volume and costs. While those are all moving parts, it’s fairly easy to construct different models depending on one’s broad thesis about future oil and gas demand.

By contrast, earnings from the sorts of energy sources Shell is getting into now are much harder to forecast. Markets remain heavily subsidized and immature, so the long-term economics are unclear. I set out in my piece Shell And The Myth Of Oil Major Green Energy my concerns that the company’s strategy was slow to execute, with unproven results. That remains the case. In its third quarter earnings, upstream and midstream results both came with financial figures attached. The so-called “growth” business did not.

Shell now sees its upstream energy business as a cash cow to fund its move into other areas, and pay shareholder distributions. This is clear from a slide it shared with its Q3 earnings.

Source: Q3 earnings presentation

That also matches the approach the company management is taking to its oil production. The CEO is reported as saying that Shell’s oil production probably peaked in 2019. So, the company expects to reduce its output of its cash cow product, meanwhile expanding in other areas whose profitability is unproven and unknown.

The key point here is not whether oil demand peaks, factor outside the company’s control. The issue is that the company is proactively planning to move to a product mix, which seems less profitable, and which is likely, therefore, to lead to structurally lower earnings in the long term, notwithstanding fluctuations in the oil price.
3. A Clear Dividend Logic

Shell set out its new, clear dividend policy with its third quarter result: a dividend increase of c. 4% annually, subject to board approval.

Additionally, it set out (as a lower priority) total shareholder distributions of 20-30% of operating cash flow on reaching net debt of $65 billion. Net debt at the end of September stood at around $73.5 bn. Once the debt comes down, these additional distributions could include both share buybacks and dividends.

That means that, at its current price, Shell has a prospective forward yield around 3.5%, which is decent for an FTSE-100 constituent. The cut has also increased dividend cover, something the company highlighted alongside its inaugural 4% increase last year, although it's hard to say for now what the long-term cover is likely to be.

So, there is a dividend policy. But I do not see a solid logic in it. First, why a meaty (4%) raise just months after a 70% cut? I just stole your wallet but, hey, here’s your cab ride home! Longer term, why 4%? It sounds attractive to potential investors. But with oil price movements and the unproven economics of Shell’s future focus, setting out a plan for a consistent annual rise lacks logic.

While the clear dividend policy is welcome, I would like for a clear dividend logic also. Currently, I think it’s missing. That matters because if the dividend keeps growing by 4%, sooner or later (perhaps later), the company will come up against the same challenge it faced last year: how to sustain a payout level which has been rising, if oil prices crash?
Conclusion: I Regard Shell As Uninvestable

I sold my Shell position at a loss and reinvested it in Exxon, because I maintain faith in oil and gas as a long-term investment theme but don’t maintain faith in Shell. For me to consider it as being investable again, it would need to demonstrate that management is capable, it has a plan to sustain or increase earnings in so far as it can do so with the levers it can pull (of which oil price isn’t one) and that the dividend has a logic which doesn’t just run it up for years or decades and then heavily cut it again in future. For now, I consider it to fail on all three metrics.

[grupo] 18/1/2021 12:10

Velocys PLC said Monday that energy giant Royal Dutch Shell PLC has withdrawn from the joint agreement to develop the Altalto waste-to-jet fuel project in the U.K. by mutual consent.

"The Altalto project has no immediate funding calls and will continue according to its existing development plan," the sustainable-fuels technology company said.

Velocys said it will continue to work together with its other joint partner, U.K. airline British Airways, owned by International Consolidated Airlines Group S.A.

"Preparations are underway to apply for significant government funding," Velocys said.

The Altalto project aims to build the first commercial scale waste-to-transport-fuels plant in the U.K.



Write to Matteo Castia at [e-mail]



(END) Dow Jones Newswires

January 18, 2021 03:00 ET (08:00 GMT)

[grupo] 16/1/2021 12:14

Heirs Holdings expands oil and gas portfolio, acquires 45% of OML 17 from Shell, Total, ENI
Business News
By Tribune Online On Jan 15, 2021
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Heirs Holdings, the leading African strategic investor, in partnership with affiliated company, Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s largest publicly listed conglomerate, announced on Friday the acquisition of a 45 per cent participating interest in Nigerian oil licence OML 17 and related assets, through TNOG Oil and Gas Limited (a related company of Heirs Holdings and Transcorp), from the Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited and ENI.

In addition, TNOG Oil and Gas Limited will have sole operatorship of the asset.

The transaction is one of the largest oil and gas financings in Africa in more than a decade, with a financing component of $1.1 billion, provided by a consortium of global and regional banks and investors.

OML 17 has a current production capacity of 27,000 barrels of oil equivalent per day and, according to estimates, 2P reserves of 1.2 billion barrels of oil equivalent, with an additional one billion barrels of oil equivalent resources of further exploration potential.

The investment demonstrates a further important advance in the execution of Heirs Holdings’ integrated energy strategy and the Group’s commitment to Africa’s development, through long term investments that create economic prosperity and social wealth. Heirs Holdings’ heritage and approach to business fundamentally underscores its commitment to inclusive development and shared prosperity with its host communities. Heirs Holdings is fully invested in the development of the Niger Delta region.

Heirs Holdings’ strategy of creating the leading integrated energy business in Africa is executed through a series of strategic portfolio holdings. Transcorp is one of the largest power producers in Nigeria, with 2,000 MW of installed capacity, through ownership of Transcorp Power Plant and the recent acquisition of Afam Power Plc and Afam Three Fast Power Limited. Transcorp closed the $300 million Afam acquisitions in November 2020.

Transcorp supplies electricity to the Republic of Benin, as part of an emphasis on promoting regional integration and delivering robust power supply to catalyse development in Africa. Transcorp also operates OPL 281, under a production sharing contract with the Nigerian National Petroleum Corporation (NNPC).

Similarly, Heirs Holdings’ subsidiary, Tenoil is the operator of OPL 2008, under a production sharing contract with NNPC. Tenoil also owns the Ata Marginal Field, which will commence production in Q2, 2021, with 3,500 barrels of oil per day.

Chairman of Heirs Holdings, Tony Elumelu stated: “We have a very clear vision: creating Africa’s first integrated energy multinational, a global quality business, uniquely focused on Africa and Africa’s energy needs. The acquisition of such a high-quality asset, with significant potential for further growth, is a strong statement of our confidence in Nigeria, the Nigerian oil and gas sector and a tribute to the extremely high-quality management team that we have assembled.

“As a Nigerian, and more particularly an indigene of the Niger Delta region, I understand well our responsibilities that come with stewardship of the asset, our engagement with communities and the strategic importance of the oil and gas sector in Nigeria. We see significant benefits from integrating our production, with our ability to power Nigeria, through Transcorp, and deliver value across the energy value chain.”

Speaking further, he said “I would like to thank Shell, Total and ENI, for the professionalism of the process, the Federal Government of Nigeria, the Ministry of Petroleum Resources, and the NNPC for the confidence they have placed in us.”

Speaking on the investment, the President/GCEO of Transcorp, Owen Omogiafo, said “This deal further demonstrates Transcorp’s integrated energy strategy and our determination to power Africa.”

Heirs Holdings was advised by Standard Chartered Plc, as Global Coordinator, and United Capital Plc, with a syndicate of lending institutions including Afreximbank, ABSA, Africa Finance Corporation, Union Bank of Nigeria, Hybrid Capital, and global asset management firm Amundi. The deal also involves Schlumberger as a technical partner, as well as the trading arm of Shell as an offtaker.

[grupo] 16/1/2021 11:22

Shell declares force majeure on Nigeria’s Forcados crude
Jan. 15, 2021 8:59 AM ETRoyal Dutch Shell plc (RDS.A)By: Carl Surran, SA News Editor2 Comments

Royal Dutch Shell (RDS.A, RDS.B) says loadings of Nigeria's key export grade Forcados are on force majeure due to the shutdown of the Trans Forcados pipeline.
The pipeline initially had shut down for maintenance but "community disturbances" disrupted the exercise; the pipeline thus remained shut for longer than scheduled, causing Shell to declare force majeure.
Forcados is one of Nigeria's top export grades; production has fallen sharply to ~250K bbl/day in recent months, as it has come under pressure to adhere to its OPEC+ cut obligations.
Exports of Qua Iboe also are currently on force majeure due to production issues triggered by a fire at the Qua Iboe terminal last month.
Shell's November-December gains are "just the beginning - now is a great time to buy," Portfolio Navigator writes in a bullish analysis published recently on Seeking Alpha.

[sarkasm] 13/1/2021 08:56

Royal Dutch Shell a
1,507.6 +1.13%



Royal Dutch Shell b
1,449.2 +1.09%

certainly A shares at a nice premium despite the withholding tax

[grupo] 13/1/2021 07:45

correct

most uk investors buy B due to not wanting to be subject to the dutch dividend withholding tax

A fact that always amused me was in the unlikely event of liquidation,it would be A
shareholders would be first in line for the assets if any

i must look at volumes now

all the best

[riskvsreward] 13/1/2021 07:35

Thanks Grupo. Agree with your post. But surely the Dutch withdrawal tax for rdsa is a negative for UK investors. The other factor is why nobody (Institutional investors)
make arbitrage trade considering that this share is very liquid.

[grupo] 13/1/2021 07:15

I BELIEVE In short they are two different companies containing different aspects of the group

The other imoacts is tax and currency impacts

RDSA is subject to Dutch tax law

EDIT


riskvsreward
13 Jan '21 - 07:03 - 2812 of 2812
0 0 0
Any good reason why rdsa is quite a bit (3-4%) higher than rdsb?

[riskvsreward] 13/1/2021 07:03

Any good reason why rdsa is quite a bit (3-4%) higher than rdsb?

[grupo] 13/1/2021 05:39

Royal Dutch Shell PLC (NYSE: RDS-A) was started in coverage with a Buy rating and a $51 price target at Mizuho.

The consensus target for the integrated energy leader is $45.77.