|Bid||59.66 x 3000|
|Ask||60.45 x 800|
|Day's Range||59.67 - 60.15|
|52 Week Range||54.64 - 67.45|
|Beta (3Y Monthly)||0.80|
|PE Ratio (TTM)||11.94|
|Forward Dividend & Yield||3.76 (6.30%)|
|1y Target Est||80.50|
(Bloomberg) -- Oil climbed to the highest in nearly two months amid optimism that the U.S. and China are close to locking down a partial trade deal.Futures jumped 1.7% on Friday in New York, pushing a weekly advance to 0.8% after White House economic adviser Larry Kudlow said late Thursday negotiations between the two countries were coming down to the final stages. That outweighed U.S. government data earlier this week that showed an expansion in crude stockpiles and oil production at record-high levels.“The most important factor is economic growth and demand growth and the trade talks are going to be the indicator for expectations about how that’s going to play out,” said Gene McGillian, senior analyst and broker for Tradition Energy Group in Stamford, Connecticut. “We’ve seen optimism surrounding the trade deal bring some length into the market.”Still, U.S. crude is down about 13% since late April. The Organization of Petroleum Exporting Countries has indicated it won’t cut output deeper to stave off the impending surplus and predicts worldwide supplies will exceed demand by about 645,000 barrels a day in the first half of next year. Meanwhile, the International Energy Agency said soaring production outside OPEC and high inventories will keep consumers comfortably supplied next year.West Texas Intermediate for December delivery gained 95 cents to settle at $57.72 a barrel on the New York Mercantile Exchange.Brent for January settlement rose $1.02 to end the session at $63.30 a barrel on the London-based ICE Futures Europe Exchange. The global benchmark crude traded at a $5.47 premium to WTI for the same month.Also see: Russia Is Making More Money From OPEC+ Deal Than Saudi ArabiaU.S. crude output increased by 200,000 barrels a day to 12.8 million a day last week, according to Energy Information Administration data on Thursday. While nationwide crude inventories rose, stockpiles at the key storage hub at Cushing, Oklahoma, declined for the first time in six weeks.To contact the reporter on this story: Jacquelyn Melinek in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: David Marino at email@example.com, Jessica Summers, Christine BuurmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Transaction in Own Shares 15 November 2019 • • • • • • • • • • • • • • • • Royal Dutch Shell plc (the ‘Company’) announces that on 15 November 2019 it purchased the following.
(Bloomberg) -- Royal Dutch Shell Plc has made $1 billion from trading fuel oil this year, making it one of the standout winners from rules designed to make the shipping industry greener.Shell said last month that it made substantial money in fuel-oil trading in the third quarter, but the company didn’t disclose the size of the profits. Shell traders celebrated hitting the $1 billion mark so far, likely the biggest by any one company in fuel oil this year, by ringing a bell on the company’s trading floor in London earlier this month, people familiar with the matter said.Shell declined to comment.The fuel-oil market has been shaken this year by the so-called IMO 2020 new regulations that ban the use of high-sulfur fuel oil, known as HSFO, to power ships. The rules are aimed at combating human health conditions such as asthma and environmental damage including acid rain. Prices are collapsing because the global shipping fleet, which burns more than 3% of the world’s oil, will instead have to consume very low sulfur fuel-oil, or VLSFO.Although better known for its oil fields, refineries and pump stations, Shell runs an in-house trading business that’s larger than the better-known independent oil traders like Vitol Group, Glencore Plc and Trafigura Group, handling 13 million barrels of oil equivalent per day. The company describes itself as “one of the largest and most experienced energy merchants in the world” with major trading floors in Houston, London, Dubai, Rotterdam and Singapore.Europe’s largest oil company told investors that its downstream business, which includes refining, oil trading and fuel stations, benefited during the third quarter from “stronger contributions from oil-products trading and optimization, mainly fuel oil.” In a conference call with analysts, Jessica Uhl, Shell’s head of finance, said the company’s traders benefited from “the change in the fuel standards” linked to IMO 2020, the name by which the ship-fuel rules are widely known.It’s unclear exactly how Shell’s traders made their profit, but premiums for fuel that’s lower in sulfur have surged this year, potentially benefiting those companies that produce more of the product. Shell’s refining system is a relatively sophisticated one, something that could put the company in a better position as the regulations enter into force. The margin to produce high-sulfur fuel oil in Europe recently slumped to a more than 10-year low, according to the International Energy Agency.The new shipping rules allow traders to produce blended fuels, including mixing so-called low sulfur fuel-oil, or LSFO, mainly used in power stations that burn the fuel to produce electricity, with diesel to produce VLSFO. The spread between high and low sulfur fuel-oil blew up to almost $30 a barrel in late October, compared with an average of about $2 a barrel in 2018, according to the International Energy Agency.\--With assistance from Jack Wittels.To contact the reporters on this story: Javier Blas in Dubai at firstname.lastname@example.org;Alaric Nightingale in London at email@example.comTo contact the editors responsible for this story: Will Kennedy at firstname.lastname@example.org, Alaric Nightingale, John DeaneFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Royal Dutch Shell Plc has made $1 billion from trading fuel oil this year, making it one of the standout winners from rules designed to make the shipping industry greener.
(Bloomberg) -- Royal Dutch Shell Plc is reassuring investors, workers, and anyone else who will listen that it’s the international oil major that’s staying in Canada as others pull up stakes.Shell’s future in the country is largely as a natural gas producer and exporter focused on the $30 billion LNG Canada project, though the company is also committed to its local chemicals and retail businesses, Shell Canada head Michael Crothers said in an interview.A number of large multinational energy companies have either left or reduced their presence in the country in recent years, including Norway’s Equinor ASA, France’s Total SA and ConocoPhillips. Independent explorers like Devon Energy Corp., Apache Corp. and Marathon Oil Corp., as well as pipeline giant Kinder Morgan Inc., have gotten in on the act, too. Even Encana Corp., a Canadian company born out of the nation’s 19th-century railway boom, said last month that it’s moving to the U.S. and dropping the link to its home country from its name.Shell stoked some concern that it would be among the pack leaving when it sold most of its stake in the Athabasca Oil Sands Project to Canadian Natural Resources Ltd. for about $8.2 billion in 2017. The company went a long way toward allaying those fears when LNG Canada announced it would build a massive export facility on British Columbia’s Pacific Coast that’s slated to operate for decades to come.“We’re the multinational that’s staying,” Crothers, 57, said from Shell Canada’s headquarters in Calgary. “We’re the multinational that’s investing. We see enormous opportunity here because of the resource base we have and the excellent people we have.”Shell has been in Canada for more than 100 years, evolving from a broad-based, integrated oil company -- at one point even mining coal -- into an oil-sands focused producer and now into a focus on gas, said Crothers, whose full title is president and country chair of Shell Canada.Aside from the liquefied natural gas project -- of which it owns 40% -- and the Groundbirch gas production complex in British Columbia that will partly supply it, Shell has some light oil production, the Scotford refinery, two chemicals plants and a carbon capture facility in Alberta, plus the Sarnia refinery and chemicals and lubricants plants in Ontario.The company sought to sell the Sarnia refinery and a chemicals plant this year as it focuses on LNG Canada, but pledged to keep operating the units if it didn’t get a good offer.Shell’s B shares were down 1.3% to 2,295 pence at 4:34 p.m. in London. They are down about 2% for the year. Shell also still owns a 10% stake in the Athabasca oil sands, which it sees as a core asset because it provides feedstock for the Scotford complex. Shell has no plans to sell that stake, Crothers said.“We need to be able to ensure that we have access to that supply, and without some kind of equity stake, we feel that would be a concern,” he said.The company has about 3,600 workers in the country and is hiring for LNG Canada, Crothers said. Other parts of the business are always facing cost pressures, keeping headcount in check, he said.Another growth area is Shell’s retail business, which is building 50 new stations a year in the country and experimenting with new services like electric-vehicle charging stations and hydrogen refueling stations for fuel-cell vehicles, he said.“We’re a big, integrated business,” Crothers said. “We’ve never left, but we keep evolving.”(Updates with sharels in ninth paragraph. A previous version corrected to say chemicals plant in eighth paragraph.)To contact the reporter on this story: Kevin Orland in Calgary at email@example.comTo contact the editors responsible for this story: Simon Casey at firstname.lastname@example.org, Carlos CaminadaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Royal Dutch Shell Plc is reassuring investors, workers and anyone else who will listen that it's the international oil major that's staying in Canada as others pull up stakes.
The oil giant’s attributes and drawbacks mean it should trade at a premium to emerging market competitors but a discount to Western oil companies, Bernstein analysts write.
The leader of Shell Pennsylvania Chemicals shrugged off comments against the petrochemical industry by Pittsburgh Mayor Bill Peduto, saying the company was focused on the job creation and the economic boost the Potter Township plant will represent in the region. VP Hilary Mercer, who is in charge of the construction and commissioning of the $6 billion polyethylene manufacturing plant, didn't directly address Peduto's comments two weeks ago to speak out against further development of the petrochemical industry in western Pennsylvania. Instead, in response to a question at the Business Times' VisionPittsburgh event Tuesday afternoon in downtown Pittsburgh, Mercer spoke about the impact the Shell plant was having.
(Bloomberg) -- Oil fell as equity markets faltered on concern chances of a U.S.-China trade settlement are slipping away.Futures in New York fell 0.7% on Monday. President Donald Trump dashed expectations over the weekend that a trade deal had been reached. Meanwhile, Oman’s oil chief said OPEC and allied producers probably won’t deepen output cuts when they meet next month.“Obviously we are a little concerned about the trade war,” said Phil Flynn, senior market analyst at Price Futures Group in Chicago.Oil has rallied more than 8% since early October amid signals the U.S. and China were moving closer to settling the protracted trade dispute that’s undermining energy demand. Hedge funds have cautiously revived bets on rising prices.West Texas Intermediate for December delivery fell 38 cents to close at $56.86 a barrel on the New York Mercantile Exchange.Brent for January delivery slid 33 cents to $62.18 on the London-based ICE Futures Europe Exchange. The global crude benchmark traded at a $5.28 premium to WTI for the same month.See also: Aramco IPO Prospectus Flags Peak Oil Demand Risk in 20 Years“These days it’s largely the trade war” that’s moving prices, Bob McNally, president of Rapidan Energy Group and a former oil official at the White House under President George W. Bush, said in a Bloomberg TV interview on Monday. “Folks are also looking into early next year and seeing an oversupplied market, and there’s questions whether OPEC+ will rise to the challenge.”To contact the reporter on this story: Jacquelyn Melinek in New York at email@example.comTo contact the editors responsible for this story: David Marino at firstname.lastname@example.org, Mike Jeffers, Joe CarrollFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.BP Plc, Royal Dutch Shell Plc, Total SA and Vitol Group are among partners in a new exchange to trade Abu Dhabi’s flagship oil grade in what could become a new price benchmark for a fifth of the world’s crude.Intercontinental Exchange Inc. Chairman Jeffrey Sprecher confirmed the partnerships, speaking on Monday to reporters in Abu Dhabi. Other partners in the exchange are Petrochina Co., Inpex Corp. and JXTG Holdings Inc. of Japan, PTT Pcl of Thailand, and South Korea-based GS Caltex Corp., he said.Although oil producers across the Persian Gulf pump about a fifth of the world’s oil, they have never had a region-wide, exchange-traded crude benchmark. Adnoc wants the Murban futures contract to become a benchmark for crude from the Middle East, the biggest oil-exporting area of the world.Abu Dhabi National Oil Co. will join major international oil companies, traders and customers as founding partners in a platform operated by ICE for the trading of futures contracts in Abu Dhabi’s flagship Murban crude, Adnoc Chief Executive Officer Sultan Al Jaber said in a speech earlier Monday. Murban futures will allow buyers to hedge in the open market, he said.Trading StartThe contracts are likely to begin trading around June, and are set to be the benchmark for other Abu Dhabi grades, Al Jaber said in an interview after ICE’s announcement. ICE will be a majority shareholder in the Abu Dhabi futures exchange, he said.Having a large number of well-known international partners “gives you instant credibility that what we’re doing is the right step forward,” Al Jaber said.ICE plans also to introduce swaps contracts on the Abu Dhabi exchange -- for example, between Murban and North Sea Brent -- to improve liquidity by offering more hedging options. The swaps would start trading at about same time as the Murban futures, Stuart Williams, president of ICE Futures Europe, said in an interview in Abu Dhabi.Murban is Adnoc’s most plentiful grade, at about 1.7 million barrels a day, and accounts for more than half of the crude pumped in the United Arab Emirates. Abu Dhabi holds most of the oil in the U.A.E., the third-largest producer in the Organization of Petroleum Exporting Countries.Crude BenchmarksAbu Dhabi won’t be the first regional producer to offer futures contracts for its crude. Oman and the neighboring U.A.E. emirate of Dubai joined with CME Group Inc. in 2007 to start the Dubai Mercantile Exchange to trade Omani crude futures. Oman, Dubai and Saudi Arabia are the only producers in the Gulf to price off the contract; most of the others base their monthly crude pricing on the Dubai and Oman crude price assessments by S&P Global Inc.’s Platts.There is room for more than one benchmark in the region, and the Oman and Murban markers could act as reference points for different crude grades and qualities, Al Jaber said. Murban is lighter and more sweet, while Oman is heavier and more sour, he said.Murban generally fetches higher prices on global markets and is similar in quality to Brent crude, the international benchmark. Brent futures are traded on the London-based ICE Futures Europe Exchange.To contact the reporters on this story: Anthony DiPaola in Dubai at email@example.com;Javier Blas in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Nayla Razzouk at email@example.com, Bruce Stanley, Amanda JordanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Investors can buy low cost index fund if they want to receive the average market return. But in any diversified...
At the vast Pernis refinery in Rotterdam, where Royal Dutch Shell processes 20m tonnes of crude oil a year, any glitches or unplanned downtime can be costly. The equipment and operating conditions at Europe’s largest refinery are monitored using 50,000 sensors that generate 100,000 measurements a minute. Last year Shell started using machine learning to better analyse and process that data.
BP, Shell and Total are among partners in a new exchange to trade Abu Dhabi's flagship oil grade in what could become a new price benchmark for a fifth of the world's crude.
After more than three years of planning and several false starts, Saudi Arabia on Sunday formally announced its intention to go ahead with a landmark initial public offering of state-owned oil firm Saudi Aramco. The IPO has been delayed several times in parallel to big swings in the oil price this year, which have made it challenging to value the company. Saudi didn’t say how much of Aramco it will sell or how much money it will raise, but it is widely reported to be looking to sell 1% to 2% of its shares on the local bourse.
Oil companies with complex refineries stand to benefit the most from supply and regulatory changes Continue reading...
Shell International Finance B.V. and Royal Dutch Shell plc 8 November 2019 Publication of Final Terms The following Final Terms are available for viewing: Final.
The shares now trade at a one per cent premium to their year-end forecast net asset value (NAV), writes Emma Powell. Given that Lok’n Store is trying to expand its store portfolio, there is a clear logic to the self-storage group’s efforts to keep “the balance sheet in trim”, in the words of chief executive Andrew Jacobs. Recycling proceeds from the sale of a document storage business, together with the “sale and manage back” of the Crayford store, meant the group was able to cut net debt by almost a tenth in the 12 months to July.