|Bid||55.61 x 2200|
|Ask||55.62 x 3000|
|Day's Range||55.46 - 55.79|
|52 Week Range||54.56 - 66.48|
|Beta (5Y Monthly)||0.83|
|PE Ratio (TTM)||11.08|
|Forward Dividend & Yield||3.76 (6.72%)|
|Ex-Dividend Date||Nov 13, 2019|
|1y Target Est||75.30|
ROYAL DUTCH SHELL PLC DIRECTOR CHANGES, APPOINTMENT OF DEPUTY CHAIR AND SENIOR INDEPENDENT DIRECTOR AND BOARD COMMITTEE CHANGES Royal Dutch Shell plc (the "Company") announces.
Hess' (HES) fourth-quarter earnings are affected by lower commodity price realization and increased operating expenses, partially offset by higher hydrocarbon production.
TOTAL (TOT) decides to sell 50% of its current wind and solar assets in France. It is set to continue pursuing further development of renewable assets in the region.
(Bloomberg Opinion) -- Lots of companies talk a good game about cutting planet-heating greenhouse emissions but their disclosures and targets have tended to focus on the emissions over which they have direct control and which are easiest to measure. That’s fine in an industry such as cement, where the bulk of carbon pollution occurs during the production process. From an environmental perspective these direct, or “Scope 1,” emissions are the main problem caused by these particular companies.But the approach falls down in companies working in oil, mining, carmaking, finance, and even fashion, because oftentimes most of their carbon footprint is contained in the products they sell or help finance — not their own operations.An oil giant can boast all it likes about how it’s reduced gas flaring; if car drivers are still filling up with its gasoline, the planet will keep getting hotter. The same goes for an iron ore producer that touts how its mining trucks are incredibly fuel efficient but whose main product is the basis for steel production. Luxury goods suppliers may run the greenest workshops imaginable, but use fabrics and materials that are deeply damaging to the planet.In the past, so-called “Scope 3” emissions — the pollution contained in products sold to customers or in goods and services purchased from suppliers — either weren’t calculated or were seen as someone else’s problem. Thanks to pressure from institutional investors and activists, plus leadership from a few enlightened chief executives, corporate attitudes about this subject are evolving fast. “Scope 3 is the elephant in the room,” Mark van Baal of investor advocacy group Follow This told the Norwegian oil major Equinor ASA’s annual meeting last year.The new impetus is welcome because unless companies try to reduce the environmental damage of their products and purchasing decisions, efforts to limit catastrophic climate change will fail. At the World Economic Forum in Davos last week the bosses of some of the world’s biggest oil producers debated setting targets for Scope 3 emissions, which typically make up about 90% of their carbon footprint. BP Plc’s new boss Bernard Looney is poised to abandon his predecessor Bob Dudley’s opposition to targeting customer emissions, according to Reuters. Royal Dutch Shell Plc, Repsol SA and Total SA have already set Scope 3 targets.In mining, Rio Tinto Plc argued it had “very limited control” over customer emissions but later bowed to pressure by promising to work with its customer (and China’s top steel producer) Baowu Steel Group on lowering the steel sector’s emissions. BHP Group Ltd. and Vale SA have gone further by promising to set goals for Scope 3 emissions. In BHP’s cases these are almost 40 times greater than its direct pollution.The European Union’s new guidelines on climate reporting also recommend that large companies disclose customer and supplier emissions. Banks and insurers, whose direct emissions are typically pretty negligible, should focus on their counterparties’ emissions, the guidelines say. Unfortunately, this is not yet legally binding.Reluctance to target this stuff is hardly surprising because the numbers can be huge. Volkswagen AG acknowledged last year that its vehicles are responsible for about 2% of all the CO2 produced by humans.(3)Among the largest Scope 3 polluters are companies that the public probably don’t immediately think of as big climate sinners. It’s no surprise that Shell and Petrobras make the list, but I hadn’t thought about Cummins Inc., which sells truck engines and industrial power generators, Nexans SA, whose cables transport electricity and data, and Daikin Industries Ltd, which builds air-conditioning units.I’m not knocking these companies; at least they’re disclosing these emissions and some are setting targets to reduce them. Cummins plans to reduce absolute lifetime emissions from newly sold products by 25% by 2030, for example.Calculating the emissions from sold products is a pretty complicated exercise too. ThyssenKrupp AG’s massive Scope 3 emissions include those contained in the steel in the cars we drive around, the cement plants its factory construction unit helped build and the elevators in office buildings. Daikin has to consider the probable lifespan of its air conditioners, their energy consumption and what kind of electricity they’re powered by, plus probable leakage rates of planet-heating refrigerants.Fortunately there’s no shortage of organizations and methodologies to help compile these data. (Michael Bloomberg, founder of Bloomberg News and its parent Bloomberg LP, chairs the FSB Task Force on Climate-related Financial Disclosures).Regrettably, not all large manufacturers have seen the light through the smoke. The copious sustainability reports of some companies still don’t spell out the total emissions of the products they sell. Volvo AB told me there’s no globally harmonized standard on how to calculate and disclose Co2 from heavy duty trucks, but that it’s evaluating opportunities to report on this in future. Daimler AG, which wants a completely CO2 neutral truck fleet in key markets by 2039, plans to start disclosing Scope 3 emissions for trucks in its next sustainability report.(1) You know something’s up when it takes a hedge fund to tell a company to clean up its act. The shortcomings in aircraft maker Airbus SE’s Scope 3 emissions reporting were highlighted in a critical letter late last year from Chris Hohn’s TCI Fund Management, the world’s most profitable activist fund. Airbus and rival Boeing have committed to halving the aviation industry’s net emissions by 2050. It would help focus minds on that urgent task if they fully accounted for their own role in flight pollution.(2) If Shell can do it, why not them?(1) Like other truck manufacturers, VW doesn't report Scope 3 emissions for heavy trucks but made the estimate based on its market share andthe truck sector's contribution to global emissions (plus its carbon footprint from cars)(2) It already does so for cars.(3) Boeing's environment reportonly counts Scope 3 emissions from business travel. Airbus has urged the aviation sector to develop a common methodology for Scope 3 emissions to aid consistency in reporting.To contact the author of this story: Chris Bryant at email@example.comTo contact the editor responsible for this story: James Boxell at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
ExxonMobil (XOM), Chevron (CVX), Royal Dutch Shell plc (RDS.A) and BP plc (BP) are scheduled to come out with fourth-quarter earnings in the next few days.
Big Oil has faced an onslaught of negative sentiment in recent years as climate activists ramp up their rhetoric, but the supermajors aren’t going anywhere anytime soon
Shell (RDS.A) expects its fourth-quarter LNG liquefaction volumes to expand to 8.8-9.4 million tonnes from its previous year's quarterly output of 8.78 million tonnes.
(Bloomberg) -- The world’s largest energy traders enjoyed one of their best ever years in 2019 as pipeline outages, dramatic changes in ship fuel regulations and Middle East conflicts shook up the global oil market.The bonanza extended beyond the independent traders like Vitol Group and Trafigura Group Ltd. to the in-house units of oil giants Royal Dutch Shell Plc, Total SA and BP Plc, which made billions of dollars in profits.“By all accounts, 2019 was among the best years ever for the energy trading industry,” said Marco Dunand, the chief executive of Mercuria Energy Group Ltd., one of the five largest independent oil traders.For the independents, the bumper year all but guarantees a fat bonus season for a group of companies that’s largely owned by their executives and senior staff. For the European oil companies, the trading boom will help Shell, BP and Total to weather a tough year in other parts of their business.In interviews with senior traders and top executives, the consensus is that the industry benefited from a lucky mix of factors in the oil market. Recent investments in trading natural gas, power and liquefied natural gas also started to bear fruit.First, a series of supply outages boosted the premiums that oil refiners pay over the benchmark price for some crudes. Early in 2019, Washington imposed sanctions on Venezuela, disrupting flows. Then, Russian shipments into Europe via the key Druzhba pipeline were halted after oil was tainted with a corrosive pollutant. And in September, Saudi exports were hindered after a terrorist attack against the country’s most important petroleum facility.Some traders also profited from the so-called IMO2020 rules that force the world’s merchant shipping fleet to use fuel with a lower sulfur content. The rules have upended the oil-refining and maritime industries, causing gyrations in the price of fuel-oil and marine diesel.The results provide some breathing room for a sector that’s under assault from falling margins. Brent crude, the world’s most important benchmark, traded in a relatively narrow range of $52.51 to $75.60 a barrel through the year.Vitol, Glencore, Shell, BP and Total all declined to comment on their results.The trend was already clear in the results of Trafigura, which reports earlier than others due to a fiscal year ending in September. Trafigura said its oil unit delivered a record gross profit of $1.7 billion last year.$1 Billion YearElsewhere executives also expect a stellar year, even as they caution that they haven’t yet audited their financial statements or decided on the final writedowns against 2019 results. The oil-trading unit of Glencore Plc., for example, enjoyed its best ever result, according to people familiar with the matter. One person said Glencore expects to report earnings before interest and taxes of more than $1 billion in oil trading.At Gunvor, chief executive Torbjorn Tornqvist said 2019 was “up there among the best years ever” for the trading house, in part thanks to its expansion into LNG, super-cooled natural gas that can be transported by vessel. “We have a good year across the board.”Vitol, the world’s largest independent oil trader, expects to report earnings near $2 billion, one of its best results, according to a person familiar with the matter. Mercuria also enjoyed a “very good year,” its chief executive said.Inside Big Oil, it was also a trading bonanza. Although better known for their oil fields, refineries and pump stations, Shell, BP and Total also run in-house trading businesses that are larger than the better-known independent dealers. Shell alone trades the equivalent of 13 million barrels a day of oil, dwarfing the nearly 7.5 million barrels a day at Vitol.For BP and Shell, 2019 was one of the best years ever in trading, making several billions dollars, according to two people familiar with the matter. Shell alone made at least $1 billion in fuel-oil trading linked to the IMO2020 changes.The results came despite mounting legal and regulatory pressures on some of the biggest trading houses. Glencore is under investigation by the U.S. Department of Justice. Meanwhile, Vitol and Trafigura had their Geneva offices raided by Swiss prosecutors as part of a bribery investigation in Brazil. And Gunvor had to pay $95 million in Switzerland to settle a case that saw a former employee pay bribes to secure oil deals in the Republic of Congo and Ivory Coast.\--With assistance from Andy Hoffman, Jack Farchy, Ronan Martin and Francois de Beaupuy.To contact the reporter on this story: Javier Blas in Davos at email@example.comTo contact the editors responsible for this story: Will Kennedy at firstname.lastname@example.org, Emma Ross-Thomas, Helen RobertsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
One of Europe’s largest independent oil producers is pledging to become carbon neutral by the end of the decade and will drop “petroleum” from its name as the industry comes under increasing pressure on emissions from investors. in decades, is aiming to reduce emissions from its own operations to zero by 2030, largely by replacing gas turbines that power offshore platforms with renewable electricity from land but also by buying carbon offsets. , Lundin is not giving any targets yet for reducing emissions from when its oil is burnt or used — by far the largest part of greenhouse gas pollution — as it has no refining operations so has little direct influence over how its oil is consumed.
(Bloomberg) -- Sign up to our Next Africa newsletter and follow Bloomberg Africa on TwitterNigeria’s Economic and Financial Crimes Commission charged Mohammed Adoke, a former justice minister and attorney general, for allegedly taking a bribe to facilitate a $1.3 billion oil deal.The anti-graft body filed 42 charges against Adoke and accused him of receiving a 300 million naira ($831,000) payment from businessman Aliyu Abubakar in relation to the acquisition of Oil Prospecting License 245 in the Gulf of Guinea, the commission said in an emailed statement.Adoke pleaded not guilty to all the charges and the case was adjourned to Jan. 27 when bail applications will be heard, the EFCC said.Abubakar is also being tried alongside other parties, including the local units of Royal Dutch Shell Plc and Eni SpA. The two companies, who deny any wrongdoing, are accused of improperly settling disputes over the oil field.OPL 245 was created in 1998, when then-petroleum minister Dan Etete carved out the offshore license and awarded it to his own company, Malabu Oil and Gas Ltd. Through successive regimes it was taken from him, awarded to Shell, and then given back, locking the companies and government in legal disputes.To win control of OPL 245, Shell and partner Eni paid the Nigerian government $1.1 billion. The companies agree the payment was made, but disagree about whether those funds went to bribes.Read more:To contact the reporter on this story: Tope Alake in Lagos at email@example.comTo contact the editors responsible for this story: Anthony Osae-Brown at firstname.lastname@example.org, Hilton Shone, Jacqueline MackenzieFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Guyana's government next month plans to begin a search for an oil company or trading firm to market its share of the South American country's crude, the director of the Department of Energy, Mark Bynoe, said in an interview. The government is entitled to a portion of the light, sweet crude that a consortium led by Exxon Mobil Corp began producing last month after making 15 discoveries in recent years. The finds are set to transform the economy of Guyana, an impoverished country of fewer than 800,000 people.
Zambian economist Dambisa Moyo says it is "naive" to advocate for fossil fuel divestment, days after 17-year-old activist Greta Thunberg called on the world's elite to do so.
Shell (RDS.A) aims to tap the growing opportunities in the in-car payments space and offer better retail experience to its customers through payments from UConnect Market.
(Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.The bosses of some of the world’s biggest oil companies discussed adopting much more ambitious carbon targets at a closed-door meeting in Davos, a sign of how much pressure they’re under from activists and investors to address climate change.The meeting, part of a World Economic Forum dominated by climate issues, included a debate on widening the industry’s target to include reductions in emissions from the fuels they sell, not just the greenhouse gases produced by their own operations, people familiar with the matter said on Wednesday.The talks between the chief executive officers of companies including Royal Dutch Shell Plc, Chevron Corp., Total SA, Saudi Aramco, Equinor ASA and BP Plc showed general agreement on the need to move toward this broader definition, known as Scope 3, the people said, asking not to be named because the session was closed to the press. The executives didn’t take any final decisions.Shell and Aramco declined to comment. Media representatives for Chevron, Total and BP weren’t immediately able to respond to requests for comment. Equinor confirmed its CEO Eldar Saetre attended the meeting.Climate FocusTargeting Scope 3 emissions would be a big shift for an industry that produces the bulk of the world’s planet-warming emissions, once that could eventually require them to sell far less oil and gas. The simple fact that the industry’s top executives were considering it underscored how climate concerns suddenly came into focus in Davos this year.For the first time, environmental risks occupied the WEF’s top five long-term concerns. Business leaders from BlackRock Inc. CEO Larry Fink to Allianz SE boss Oliver Baete used their platform at the event to focus on sustainable investment. The two highest-profile attendees at the forum -- President Donald Trump and climate activist Greta Thunberg -- made headlines as they staked out opposing positions on the issue.The oil and gas executives debated a document produced by the WEF on “neutralizing emissions at the pump,” a reference to the gasoline and diesel sold to customers. There’s an urgent need to shift the industry’s target from production to emissions from end users, said one person.Several companies have already set targets for Scope 1 and 2 greenhouse gases, which come directly from pumping and refining hydrocarbons. Yet these account for less than 10% of total emissions from the life cycle of oil and gas. Some of their pledges have also focused on curbing emissions intensity -- the amount of carbon dioxide released per unit of energy -- which wouldn’t necessarily lead to a reduction in the volume of greenhouse gases produced if a company’s output is growing.Among major energy groups, only Shell, Total and Madrid-based Repsol SA have publicly announced that they are either targeting or monitoring Scope 3 emissions.The Spanish company made the boldest move, promising net-zero emissions in 2050 by diverting investment into wind and solar power. Shell has taken more modest steps, pledging to offset the greenhouse gases produced by fuel sold to drivers on their loyalty-card programs in the U.K. and Netherlands.Eni SpA Chairman Emma Marcegaglia said in a Bloomberg TV interview that the company is committed to becoming carbon neutral on a Scope 1 and 2 basis by 2030. The Italian oil and gas giant is in discussions about Scope 3 emissions, but needs more guidance from the government on how to do so, she said.Other companies, notably U.S. majors Exxon Mobil Corp. and Chevron have so far resisted specific pledges to cut total emissions, with the latter focusing instead on the carbon intensity of the energy it produces. BP CEO Bob Dudley, who retires later this year, has agreed aims for Scope 1 and 2 gases but in the past opposed a Scope 3 target.“We need to reduce our carbon intensity, everyone in the industry agrees on that,” Dudley said in an interview in Davos. However, he cautioned that shareholders and companies were using multiple definitions of Scope 3 emissions. “We need to get a common definition” so the industry “can work together in a powerful way.”(Updates with Aramco comment in fourth paragraph)\--With assistance from Laura Hurst, Francois de Beaupuy, Matthew Martin, Francine Lacqua and Mikael Holter.To contact the reporter on this story: Javier Blas in Davos at email@example.comTo contact the editors responsible for this story: James Herron at firstname.lastname@example.org, Rakteem KatakeyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Transaction in Own Shares 22 January 2020 • • • • • • • • • • • • • • • • Royal Dutch Shell plc (the ‘Company’) announces that on 22 January 2020 it purchased the following.
Shell (RDS.A) will acquire a working interest in two UK North Sea licenses of Egdon Resources and incur most of the 3D seismic survey costs to secure OGA's approval.
The Zacks Analyst Blog Highlights: Roche, Royal Dutch Shell, Citigroup, UnitedHealth and Costco Wholesale
Brazilian energy and logistic conglomerates Cosan SA and Raízen announced executive changes at their helms on Tuesday, with both appointing new chief executives, according to a market filing. Marcos Lutz, who headed Cosan for over a decade, will step down and become a member of the company's board.
Premier Oil (PMOIY) recently said that it will spend $625 million to acquire the Andrew and Shearwater assets from BP plc, plus another $246 million to buy a separate set of North Sea properties.