56.24 0.00 (0.00%)
After hours: 4:44PM EDT
|Bid||55.81 x 800|
|Ask||56.30 x 1800|
|Day's Range||56.05 - 56.45|
|52 Week Range||54.78 - 70.09|
|Beta (3Y Monthly)||0.61|
|PE Ratio (TTM)||11.33|
|Forward Dividend & Yield||3.76 (6.76%)|
|1y Target Est||80.49|
LONDON , Aug. 21, 2019 /PRNewswire/ -- Royal Dutch Shell plc (the 'Company') (NYSE: RDS.A) (NYSE: RDS.B) announces that on August 21, 2019 it purchased the following number of "A" Shares and ...
Equinor's (EQNR) initial estimate of recoverable resources from the Sputnik discovery is currently in the range of 20-65 million barrels of oil.
(Bloomberg) -- The rivalry between U.S. and Middle Eastern oil producers has jumped up a notch as American crude makes its way right to the heart of Asia, the world’s most-prized energy market.Royal Dutch Shell Plc has offered a cargo of U.S. West Texas Intermediate Midland crude that’s priced off the Dubai benchmark in its debut during Asian hours on S&P Global Platts’ widely-referenced trading platform, according to two traders and data compiled by Bloomberg.Offering the shipment -- scheduled to be delivered to Singapore, or Linggi or Nipah in Malaysia -- against the Middle East’s oil benchmark brings it into direct competition with Gulf grades produced in Saudi Arabia, Abu Dhabi and Qatar. Once considered a one-off arbitrage, the flow of American oil to Asia has increased in recent years.“It’s another tasty entree on the oil buffet table that may be quite appetizing for some of the Asian buyers,” said John Driscoll, chief strategist at JTD Energy Services Ltd. in Singapore. “Considering that U.S. crude exports have steadily been ramping up, this move could be disruptive for the traditional suppliers in the Middle East.”While U.S. shipments of grades such as WTI Midland and Eagleford are typically priced off the American benchmark WTI, Shell’s offer makes it easier for buyers to compare it against similar-quality oil that refiners across South Korea, Japan and China typically take. The crude can be transferred to other vessels in the Malacca Strait near Singapore, making the logistics less complicated for buyers across Asia.American exports have eroded the dominance of Middle Eastern crude in Asia, at a time when the Organization of Petroleum Exporting Countries and its allies are restricting their output in an effort to prop up prices. South Korean oil imports from the U.S. rose to about 8.5 million barrels in June, compared with 3 million barrels a year earlier. American shipments to Asia are likely to expand further due the start up of two Permian pipelines this year.The offer by Shell was made for a WTI Midland cargo for delivery on Oct. 15-25 at a premium of $4.55 a barrel to Dubai benchmark price, the traders said. The deal was subject to the buyer’s acceptance of a vessel named Phoenix Jamnagar.(Updates with chart.)To contact the reporter on this story: Sharon Cho in Singapore at firstname.lastname@example.orgTo contact the editors responsible for this story: Serene Cheong at email@example.com, Andrew JanesFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Royal Dutch Shell, the energy giant known for its fossil fuel production andhundreds of Shell gas stations, is creeping into the electric vehicle-powerbusiness
Royal Dutch Shell is launching electric vehicle chargers at petrol stations in Singapore, its first such foray in Southeast Asia, the company said on Monday. The electric vehicle charging service, 'Shell Recharge', will be available at 10 Shell petrol stations in Singapore by October, this year or about 20% of its retail network in the city-state, the company said in a statement. It added that the chargers typically provide from 0% to 80% charge in about 30 minutes, and are compatible with most electric vehicles in Singapore.
(Bloomberg Opinion) -- Two years ago, 10 sailors died when the U.S. Navy’s guided missile destroyer USS John S. McCain collided with a chemical tanker off Singapore. An investigation has determined that insufficient training and inadequate operating procedures were to blame, and both factors were related to a new touch-screen-based helm control system. The Navy has decided to revert its destroyers back to entirely physical throttles and helm controls.It’s worth exploring the Navy’s rationale for installing touch-screens (“Just because you can doesn’t mean you should,” says Rear Admiral Bill Galinis), as well as its rationale for getting rid of them:Galinis said that bridge design is something that shipbuilders have a lot of say in, as it’s not covered by any particular specification that the Navy requires builders to follow. As a result of innovation and a desire to incorporate new technology, “we got away from the physical throttles, and that was probably the number-one feedback from the fleet – they said, just give us the throttles that we can use.”There are lessons here — including a prescient one from 50 years ago — for other, more mundane transport-control interfaces as well.Large, interactive touch-screens are becoming increasingly prevalent in passenger cars; in the case of Tesla, they’re the only control interface. They’re lovely to look at, but as the Navy’s experience suggests, they might be more confusing than physical controls. That confusion isn’t academic, either: Distracted driving is an increasingly dangerous problem. According to the National Highway Traffic Safety Administration, 10% of all fatal crashes from 2012 to 2017 involved distracted drivers. Mobile phones are a major cause of distraction, as we’d expect, but they’re an even bigger problem for younger drivers.Almost 50 years ago, robotics professor Masahiro Mori wrote an extraordinary essay, “The Uncanny Valley,” on people’s reactions to robots as they became more and more humanlike. As Mori said, our affinity for robots rises as they more closely resemble humans. That affinity plunges, becoming negative and finally rising again once a robot reaches the (possibly unattainable) full likeness of a human being.Something similar is at work in our current touch-screen-filled vehicles. To an extent, adding more screen real estate give us more information, and with it more safety — until it begins to provide an overwhelming amount of information and an overly complex set of choices for visual navigation. And moving from one information-rich interface to another is increasingly difficult, as another Navy rear admiral said in reviewing the John S. McCain collision:When you look at a screen, where do you find heading? Is it in the same place, or do you have to hunt every time you go to a different screen? So the more commonality we can drive into these kind of human-machine interfaces, the better it is for the operator to quickly pick up what the situational awareness is, whatever aspect he’s looking at, whether it’s helm control, radar pictures, whatever. So we’re trying to drive that.There are two ways our in-car screens could evolve. The first is that, for safety’s sake, they’ll move back down the curve, so to speak, and be less ambiguous and more full of knobs and dials and physical throttles. That’s the Navy’s new approach. The second, though, is that we won’t go back, at least in passenger applications, to a more tactile interface of specific controls. We’re probably going to get more screens, with more information. Maybe the only way out of this valley is to shift the interface completely to voice or, in the very long run, to obviate the issue by having cars drive themselves. That could be how we navigate this uncanny valley of vehicle interfaces — the removal of any need to control the vehicle at all, and the chance to fill our cars’ screens with pure entertainment. Weekend readingA greener energy industry is testing investors’ ability to adapt. One coal CEO says “make money while you can” in an industry that is in terminal decline. The venture capital arm of Royal Dutch Shell Plc has invested in Corvus Energy, a maritime and offshore battery systems company. America’s obsession with beef is killing leather. A look at how Phoenix comes alive at night, and how other cities might too in a hotter world. An exploration of how extreme climate change has arrived in America. The Anthropocene is a joke. On a geological time scale, human civilization is an event, not an epoch. Three years of misery inside Google, the happiest company in tech. Here’s what happens when Apple Inc. locks you out of its walled garden after fraud suspicions. Machine vision can spot unknown links between classic artworks. When Midwest startups sell, their hometown schools often lose. A programmer in California got a “NULL” vanity license plate in the hopes that the word would not compute in a database of traffic offenders. Instead, he was fined $12,049. Robert Ballard, discoverer of the Titanic, is exploring a startling clue that may help him find Amelia Earhart’s plane. Bugatti’s one-off La Voiture Noire debuted at the Pebble Beach Concours D’Elegance. It’s already been sold, for $18.68 million. Bloomberg Businessweek’s Peter Coy looks back on the 40 years since the magazine declared “ the death of equities.” Get Sparklines delivered to your inbox. Sign up here. And subscribe to Bloomberg All Access and get much, much more. You’ll receive our unmatched global news coverage and two in-depth daily newsletters, the Bloomberg Open and the Bloomberg Close.To contact the author of this story: Nathaniel Bullard at firstname.lastname@example.orgTo contact the editor responsible for this story: Brooke Sample at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nathaniel Bullard is a BloombergNEF energy analyst, covering technology and business model innovation and system-wide resource transitions.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
A U.S. government report reveals that crude inventories rose by 1.6 million barrels for the week ending Aug 9, very different to the 2.7 million barrels drawdown that energy analysts had expected.
(Bloomberg Opinion) -- President Donald Trump delivered remarks on Tuesday afternoon about “American energy and manufacturing.” As you might expect, these also covered much non-contiguous ground, including Federal Reserve Chairman Jay Powell (“another beauty that I chose”), the president’s love of trucks “of all types” and a curiously extended bit about pouring cement at Central Park’s Wollman Rink – a subject “nobody wants to talk about,” apparently.The rink riff was part of an elaborate shout-out to the Teamsters; Trump was at a new petrochemicals complex in Pennsylvania to tout his support for the local workers and fossil-fuel industry. That the message was decidedly mixed may not come as a shock, but it also says something important about the line the president is walking on energy, particularly in Pennsylvania.For me, the most interesting part came about halfway through:The last administration tried to shut down Pennsylvania coal and Pennsylvania fracking. If they got in, your fracking is gone; your coal is gone. You guys, I don’t know what the hell you’re going to do. You don’t want to make widgets, right? [Pointing to audience] You want to learn how to make a computer? [Mimicking making something] A little tiny piece of stuff; you put it with those big beautiful hands of yours, look … Nah, you want to make steel and you want to dig coal and that’s what you want to do.It should be pointed out that while Pennsylvania’s coal production fell during President Barack Obama’s administration, it had been declining since at least 2001. That trend was accelerated by the arrival of cheap shale gas from states such as Pennsylvania – where, as you can see below, the Obama administration presented little obstacle. Incidentally, cheap gas from fracking is the main reason Royal Dutch Shell Plc built the plastics plant at which Trump spoke – making its final investment decision in June 2016, several months before the presidential election.Trump’s framing is the main thing, here, though. Toward the end of his speech, he lauded Americans’ ability to “outperform anyone,” adding “no one can beat us; nothing can stop us.” Yet, mere weeks after the 50th anniversary of the Apollo 11 moon landing, he links that greatness to production of raw commodities while mocking the idea of making “widgets” or – heaven forbid – “computers.”Let’s just get the obvious out of the way and say America is big and fortunate enough to support a range of industries, from fracking to fabrication. Private production of all goods – including agriculture, mining, construction and manufacturing – amounts to less than 18% of GDP, while private services are 70%. Setting sectors up in mutual exclusion to each other is ridiculous.More importantly, putting one’s faith in such raw-calorific concepts as “energy dominance” sells short the human ingenuity that has underpinned breakthrough after breakthrough – including, as it happens, the fracking for which the president professes such admiration. It also glosses over real trade-offs that must be addressed, such as climate change and the fact that promoting gas production is the single-biggest rival to Trump’s beloved coal miners – partly because shale operators have increased productivity under pressure from the energy crash.Trump was playing to a local crowd, of course, so he was bound to focus on their particular concerns and hopes. Pennsylvania is a particularly interesting arena in this regard, in part because it’s so finely balanced.Trump won the state by a margin of less than 1%, partly by focusing on factory workers who felt ignored by his opponent Hillary Clinton, during what was a mini-recession for the sector in the year leading up to November 2016. Yet, as my colleague Justin Fox wrote here, U.S. manufacturing job gains have slowed lately, and industrial production has outright declined in the past two quarters. Trump’s tariffs, while nominally aimed at protecting domestic industry, are piling pressure on a weakening global economy. Tuesday’s surprise decision to delay tariffs on what amounted to a Christmas gift list of products suggests they’re putting pressure on American consumers too. We’re a long way from the Trump-bump to industrial stocks that greeted his election.Besides being purple, Pennsylvania’s energy identity is also mixed. While it’s one of the country’s biggest producers of fossil fuels, it’s not in the same league as states traditionally seen as big energy producers. Less than 2% of Pennsylvania’s GDP relates to production of oil and gas, for example – much lower than in Texas or even Colorado, which went for Clinton in 2016(1). And as I wrote here ahead of last year’s midterms, Pennsylvania also looks “bluer” in terms of average income and gasoline consumption:This makes Pennsylvania a microcosm of the political trade-offs in U.S. energy. Tariffs boost Trump’s standing with steelworkers but pressure energy demand (and raise producers’ costs). Boosting fracking, meanwhile, modestly helps the state’s economy but exacerbates the pressure on coal miners from natural gas without necessarily paying much of a political dividend on the oil side, given Pennsylvania’s relatively low average gasoline burden. On the other hand, those relying on fuel oil for heating may be more sensitive to rising prices, which in turn bears on Trump’s confrontation with Iran and Venezuela. Meanwhile, Pennsylvania is the only one of 15 states with a low- or zero-emissions vehicle program where Trump won the popular vote in 2016, according to ClearView Energy Partners.Such complex networks of influence and impact perhaps explain why Trump has resorted to trying to end-run the energy market in certain respects. For example, trying to force through subsidies for coal-fired power plants offers one route to garnering votes from miners while also supporting fracking – and socializing the costs and inefficiencies more opaquely across the broader electorate. In what has become a hallmark of his administration, Trump’s electoral instincts push him to divide that which is inherently linked.(1) These data are taken from ClearView Energy Partners’ “Energy Policy by the Numbers, 2019 Update”To contact the author of this story: Liam Denning at firstname.lastname@example.orgTo contact the editor responsible for this story: Mark Gongloff at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Liam Denning is a Bloomberg Opinion columnist covering energy, mining and commodities. He previously was editor of the Wall Street Journal's Heard on the Street column and wrote for the Financial Times' Lex column. He was also an investment banker.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
ExxonMobil Corp. struck a $100 million research partnership with the Golden-based National Renewable Energy Lab this spring because teaming on research will be the only way to meet the giant task in front of energy industry today. What’s the pathway?” asked Vijay Swarup, vice president of research and development at ExxonMobil Corp.’s research and engineering company. Swarup spoke Tuesday at an NREL’s corporate partnership gathering, explaining with NREL Lab Director Martin Keller what drove ExxonMobil Corp. (NYSE: XOM) to reach a 10-year research agreement with NREL and other U.S. Department of Energy research arms.
Saudi Aramco, which could command a staggering valuation of $2 trillion when it makes stock market debut in 2020-2021, is the most profitable company in the world.
Inventories of U.S. crude is dropping, allowing oil prices to steady. The price of crude was boosted on an approximately 3 million barrel drop, twice as was expected. Yahoo Finance's Jared Blikre has Wednesday's commodities report.