Shell Share Discussion Threads

[xxxxxy] 02/9/2022 15:06

Global stocks pushed higher on Friday, clawing back some losses following a sharp sell-off, as the G7 backed a Russian oil price cap in blow for Russian president Vladimir Putin.In London, the FTSE 100 (^FTSE) rose 1.7% in afternoon trade, the CAC (^FCHI) was 1.9% higher in Paris and Frankfurt's DAX (^GDAXI) added 2.8% on the day.Britain's chancellor of the exchequer, Nadhim Zahawi said: "Since Putin's brutal and unprovoked invasion of Ukraine, the UK and our allies have imposed hugely damaging sanctions on the Kremlin war machine, pushing the Russian economy into a deep recession and putting the majority of Russia's $640bn (£552.5bn) foreign exchange reserves beyond use."We are united against this barbaric aggression and will do all we can to support Ukraine as they fight for sovereignty, democracy and freedom."... Yahoo Finance

[waldron] 02/9/2022 12:52

RIGZONE



Shell Walks Away From Major Russian LNG Project
by Bloomberg
|
William Mathis
|
Friday, September 02, 2022

Shell Plc will walk away from Russia's Sakhalin-2 liquefied natural gas project with nothing.

Shell Plc will walk away from Russia’s Sakhalin-2 liquefied natural gas project with nothing after President Vladimir Putin transferred the major facility to a new operating company.

The London-based firm’s decision is the latest indication that Putin won’t allow international energy companies to realize big financial gains as they exit Russia over the invasion of Ukraine. The president has also issued a decree that blocks Exxon Mobil Corp. from selling its interest in the Sakhalin-1 oil project until the end of the year.

Shell had already written off the $1.6 billion value of its 27.5% stake in Sakhalin-2 earlier this year. The company has a contract to receive LNG cargoes from the facility, and is currently assessing “options in line with applicable legal requirements and agreements” as the venture is transferred to the new operator, according to its website.

Shell will still be able to meet its commitments to supply customers with LNG regardless of its participation in the project, according to the website.

The other foreign participants in Sakhalin-2, Japan’s Mitsui & Co. Ltd. and Mitsubishi Corp. have already agreed to transfer their stakes of 12.5% and 10%, respectively, to the newly established company. The remaining partner, Russia’s state-run gas giant Gazprom PJSC, holds 50% of the current operator.

Shell’s decision not to join the new Sakhalin-2 operating company is in line with the push by European governments to lessen economic ties with Russia over the invasion of Ukraine. Even so, the move could hand even more energy revenue to Russia if Gazprom absorbs the rest of Shell’s stake. Demand for LNG has soared around the world, partially as a result of Russia’s reduction of pipeline gas supplies to Europe.

Earlier this year Shell sold its retail stations and lubricants business in Russia to Lukoil PJSC for an undisclosed sum. It’s working to get out of its 50% stake in Salym Petroleum Development N.V., a joint venture with Gazprom Neft to develop oil fields in western Siberia.

[geckotheglorious] 02/9/2022 09:45

Van Beurden leaving, great news.

Replacement coming internally, sigh.

[lippy4] 02/9/2022 09:07

its also part of the reason we have high gas prices..

[charggg] 02/9/2022 08:42

Makes you really wonder what these big II shareholders have in mind. They caused the current crisis in a way by forcing the majors like Shell to invest less in oil and gas and more towards renewables. ExxonMobil had the smartest management who didn't take these excel spreadsheet pushers suggestions, and instead kept investing in oil and gas and now their shareholders are reaping the rewards.ExxonMobil always gets the smartest management in the industry. Shell is pigeonholed by equality, diversity type fancy words, which doesn't allow the best candidate for the job.

[spud] 02/9/2022 07:55

Why oh why can't they look beyond the end of their noses for a replacement? I suspect it's a combination of keeping the status quo which in turn guarantees their bonuses. spud

[charggg] 02/9/2022 07:41

The other 4 successors seem to be again from within the company! We need fresh blood, someone from outside the company preferably a US exec to undo the damage the current CEO did by cutting the dividend. More of the same is not the answer. It will just be a name change with the same BS strategy being followed.

[garycook] 02/9/2022 06:31

Ben Van Buerden to step down as CEO next year.A Replacement named from within !

[waldron] 02/9/2022 06:26

Exxon Mobil Corp. and Shell PLC are selling their stakes in one of California's largest oil and gas producers to German asset manager IKAV Capital Partners GmbH.

Aera Energy LLC, a joint venture of the oil giants, accounts for nearly a quarter of the state's production, according to its website.

Shell Offshore Inc. said Thursday it agreed to sell its entire stake in Shell Onshore Ventures LLC, which owns 51.8% stake in Aera Energy, to IKAV for $2 billion in cash as well as additional contingent payments based on future oil prices.

Exxon Mobil said its affiliates agreed to sell their entire stake in Aera to Green Gate Resources E LLC, a unit of IKAV. Exxon Mobil didn't disclose the terms of the transaction.

Mobil California Exploration & Producing Co., an affiliate of Exxon Mobil, holds a 48.2% stake in Aera Energy and a 50% share of Aera Energy Services Co.

Shell said it secured and will maintain its current oil marketing agreements for at least five years after the sale is completed.

"This decision supports our strategy to create a resilient and competitive Upstream portfolio by focusing on positions with high growth potential and a strong integrated value chain," said Zoe Yujnovich, Shell's Upstream director.



Write to Denny Jacob at [e-mail]



(END) Dow Jones Newswires

September 01, 2022 17:22 ET (21:22 GMT)

[geckotheglorious] 01/9/2022 17:55

Spud
Fortunately I invested in solar panels, a generator, and a log burner
:)

[spud] 01/9/2022 17:21

Geck. Fortunately I fixed mine at 21p pkh for 3 years a while back. spud

[montyhedge] 01/9/2022 15:15

Interesting article out lunchtime.https://masterinvestor.co.uk/equities/why-glencore-and-shells-share-prices-can-continue-to-beat-the-ftse-100/

[geckotheglorious] 01/9/2022 10:00

Spud

People seem to be losing their minds across the board.

Time of year?

Autumn and Winter approacheth and news abounds of eye watering electricity bills for small businesses which will surely go bust. Most pubs will fold as well I suspect.

[spud] 01/9/2022 09:35

Geck. The wally's off his trolley. spud

[geckotheglorious] 01/9/2022 08:53

logan
"I think says it all - time to get out of Europe to a safe place, a country that puts the welfare of its own people first and where the people are treated well"

And a country fulfilling those requirements would be?

[loganair] 01/9/2022 08:38

German FM: I will put Ukraine first “no matter what my German voters think” or how hard their life gets.

That's NOT Democracy, this is real Dictatorship by the German FM.

I think says it all - time to get out of Europe to a safe place, a country that puts the welfare of its own people first and where the people are treated well.

[lippy4] 01/9/2022 08:26

loganair

when people lose an argument they then make ridiculous statements as you have just done..

i am afraid you are not worth talking to as you love the regime..

[xxxxxy] 01/9/2022 08:20

Rubbish. Just liquidation of Putin and KGB. Just hand them over to the Hague Court.

[xxxxxy] 01/9/2022 08:19

Very glad Shell did the right thing regarding Russia.Some things are more important than money.

[xxxxxy] 01/9/2022 08:17

Russia takes territory and rapes and tortures and steals and murders so nothing is left, just bombed out poisoned ground and genocide and Zone Zero, then calls that victory.Made in Russia. The Uncivilisation and Madness

[lippy4] 01/9/2022 08:16

loganair

have you seen all the military equipment that the russians had hidden in there including armoured cars,it was on video.

i dont see that as some one who wants to not make it a military target,the trucks looked big enough to be carrying missiles..i think they were using it to store munitions..