64.04 -0.06 (-0.09%)
After hours: 4:28PM EDT
|Bid||64.11 x 1200|
|Ask||64.37 x 1800|
|Day's Range||63.90 - 64.58|
|52 Week Range||56.26 - 73.60|
|Beta (3Y Monthly)||0.57|
|PE Ratio (TTM)||11.33|
|Forward Dividend & Yield||3.76 (5.81%)|
|1y Target Est||81.75|
LONDON , July 16, 2019 /PRNewswire/ -- Royal Dutch Shell plc (the 'Company') (NYSE: RDS.A) (NYSE: RDS.B) announces that on 16 July 2019 it purchased the following number of "A" Shares for cancellation. ...
Jefferies has cut its target prices for integrated energy stocks ExxonMobil (XOM), Chevron (CVX), and Royal Dutch Shell (RDS.A).
(Bloomberg) -- Barry risks causing life-threatening floods after making landfall in Louisiana on Saturday, as the tropical storm lashes the state with as much as two feet of rain. The system is forecast to weaken further on Sunday as it treks inland.The storm came ashore near Intracoastal City -- about 125 miles west of New Orleans -- in Louisiana and has top winds of 65 miles (105 kilometers) per hour, the U.S. National Hurricane Center said in an advisory at 5 p.m. in New York. Up to 25 inches (64 centimeters) of rain could fall in some areas of the state, according to the NHC.The National Hurricane Center looks for a few tornadoes to be triggered across Louisiana, Mississippi, western Alabama and eastern Arkansas as Barry slowly marches north, although flooding is the primary threat. Early Sunday, Barry was near Peason Ridge, Louisiana, moving north at about 6 miles (10 km) per hour, and that general motion is expected to prevail, carrying the storm as far as Arkansas tonight and Monday, the center said. Barry, which was earlier a Category 1 hurricane, has cut energy production in the Gulf of Mexico, helped lift oil and natural gas prices, threatened crops from cotton to sugar and disrupted ship traffic on the Mississippi.While it had threatened to raise the river’s levels in New Orleans to the most in almost seven decades, the National Weather Service now estimates a peak of about 17 feet, or almost three feet below prior forecasts. That would still be the highest since 1995.“The worst is yet to come,” said Jim Rouiller, chief meteorologist at the Energy Weather Group near Philadelphia. “This is a very different kind of storm. It will continue to consolidate and be a severe flooding event for the state of Louisiana.”Over 110,000 utility customers across Louisiana are being affected by power outages, according to data compiled from company maps.Entergy Louisiana LLC, the main provider in the state with a total of 1.08 million customers, reported that about 71,600 were affected. Almost 43,500 out of Cleco Corp.’s nearly 285,000 customers were without power.The storm is now about 20 miles southwest of the city of Lafayette. It’s expected to move generally northward through the Mississippi Valley through Sunday night.Barry will weaken to a depression by Sunday and could degenerate completely by Monday or Tuesday, the hurricane center said. Moisture from the storm will still bring rain through the Mississippi and Ohio Valleys.“Life-threatening, significant flash flooding and river flooding will become increasingly likely later today and tonight as Barry moves inland, especially across portions of south-central and southeast Louisiana and Mississippi,” Jack Beven, a senior hurricane specialist at the NHC in Miami, wrote in an earlier forecast analysis.In the last three years, 83% of storm deaths have been a result of inland flooding, Ken Graham, the NHC’s director, said in an online presentation. The moisture heading toward the Gulf coast “is off the charts,” he said.For more, listen to this mini-podcast on the stormCompanies have cut 70% of oil and about 56% of natural gas output in the Gulf. Tropical-storm-force winds are reaching as far as 175 miles out of Barry’s center, according to the NHC’s advisory.While New Orleans -- where an emergency was declared Wednesday -- hasn’t undergone a mandatory evacuation, Mayor LaToya Cantrell had urged residents to be prepared to shelter in place because the slow-moving storm could bring heavy rain for 48 hours.Also read: New Orleans Told ‘Do Not Drop Your Guard’ as Barry Brings RainsWhile the threat to levees along the Mississippi isn’t as great, many secondary rivers throughout Louisiana are going to rise rapidly and flood, said Graham at the NHC. “We’re still dealing with Barry. It isn’t a hurricane anymore but it doesn’t matter, there is going to be a ton of rain out there,” he said.The storm will likely cause about $800 million to $900 million in damage, Chuck Watson, a disaster modeler with Enki Research in Savannah, Georgia, said on Friday.For a map showing assets in the storm’s path, click here(Updates with storm weakening, threat of tornadoes.)\--With assistance from Sheela Tobben, Michael Hirtzer, Kevin Varley, Shruti Date Singh, Will Wade, Mark Chediak, Stephen Stapczynski, Rachel Adams-Heard and Andres Guerra Luz.To contact the reporter on this story: Brian K. Sullivan in Boston at firstname.lastname@example.orgTo contact the editors responsible for this story: Tina Davis at email@example.com, Pratish Narayanan, Ros KrasnyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Tropical Storm Barry is expected to bring heavy rain and cause dangerous flooding across southeastern Louisiana.
Credit Suisse analyst Thomas Adolff expects Total to become more “assertive” in terms of its distributions to shareholders.
LONDON , July 11, 2019 /PRNewswire/ -- Royal Dutch Shell plc (the 'Company') (NYSE: RDS.A) (NYSE: RDS.B) announces that on 11 July 2019 it purchased the following number of "A" Shares for cancellation. ...
About 53 percent of oil production and 45 percent of natural gas production in the Gulf of Mexico has been shut down.
(Bloomberg) -- Oil rode a tide of bullish news to its highest price in almost two months as a potential hurricane roiled the Gulf of Mexico and U.S. crude inventories dropped.Futures advanced 4.5% to the highest settlement since May 22. The storm brewing in the Gulf could reach hurricane status before slamming ashore this weekend, according to government meteorologists. Chevron Corp., Exxon Mobil Corp. and other major oil producers are evacuating crews from offshore installations and almost one-third of Gulf crude output has been halted.The Energy Department. meanwhile, reported that U.S. crude stockpiles shrank by 9.5 million barrels last week, surpassing all 13 estimates in a Bloomberg survey. President Donald Trump vowed to increase sanctions on Iran “substantially,” adding to already simmering tensions in the Persian Gulf.“The market is reacting to the impact of the storm and the price is getting further support from the crude oil inventory draw,” said Andy Lipow, president of Lipow Oil Associates LLC in Houston.In Washington, Federal Reserve Chairman Jerome Powell said the central bank is concerned about the economic implications of global trade disputes, which investors took as a sign the Fed is ready to cut interest rates.West Texas Intermediate crude for August delivery rose $2.60 to settle at $60.43 a barrel on the New York Mercantile Exchange.Brent for September settlement climbed $2.85 to $67.01 on the ICE Futures Europe Exchange. The global benchmark crude traded at a $6.49 premium to WTI for the same month.“We started the morning pretty strong and on top of that the tropical depression in the Gulf was already leading us higher,” said Brian Kessens, a portfolio manager and managing director at Tortoise in Leawood, Kansas. “And Powell certainly didn’t hurt any markets with his dovish comments.”The Gulf storm system was about 155 miles (250 kilometers) from the mouth of the Mississippi River, the U.S. National Hurricane Center said in an advisory at 2 p.m. New York time. It could turn into a tropical storm by Thursday and turn into Hurricane Barry on Friday, according to the agency.Chevron said Tuesday that it began shutting in five of its platforms and is starting to evacuate all associated personnel. Royal Dutch Shell Plc slightly reduced production on two platforms and is removing non-essential personnel. BP Plc and Exxon also began evacuations.\--With assistance from James Thornhill, Sharon Cho, Grant Smith and Harkiran Dhillon.To contact the reporter on this story: Alex Nussbaum in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Simon Casey at email@example.com, Joe Carroll, Catherine TraywickFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
BP (BP) plans to post its second-quarter earnings results on July 30. Let's see how its performance is expected to turn out.
London-based asset manager Sarasin & Partners has sold nearly 20% of its holdings in Royal Dutch Shell, saying the oil and gas company's spending plans are out of synch with international targets to battle climate change. The 33.8 million pounds ($42.1 million) sale represents a fraction of Shell's $261 billion market value. Sarasin is reviewing its remaining holdings in Shell of around 120 million pounds, according to a spokesman.
UK asset manager Sarasin & Partners has sold more than 20 per cent of its shares in Royal Dutch Shell and put the rest of its stake under review, saying the energy group is falling short of the Paris climate goals. Sarasin, which invests on behalf of charities, private clients and institutions, said it had sold about 1.3m shares, worth around £33.8m, linked to its “Climate Active” and “Thematic Global Equities” strategies, which take into account climate risk. In a letter sent to Shell’s chairman Chad Holliday on Monday, and seen by the Financial Times, Sarasin said the company’s plans to use shareholder funds to invest in fossil fuels and grow production were not aligned with global ambitions to limit temperature rises.
(Bloomberg) -- An oil tanker run by BP Plc is being kept inside the Persian Gulf in fear it could be seized by Iran in a tit-for-tat response to the arrest by Gibraltar last week of a vessel hauling the Islamic Republic’s crude.The British Heritage, able to haul about 1 million barrels of oil, was sailing toward Iraq’s Basrah terminal in the south of country when it made an abrupt u-turn on July 6. It’s now off Saudi Arabia’s coast and a person with knowledge of the matter says BP’s concern is that it could become a target if Iran seeks to retaliate for the seizure near Gibraltar -- by British Royal Marines -- of the tanker Grace 1 on July 4.BP’s decision shows how rising tensions between Iran and the west are having an impact on the oil tanker industry that’s vital to the global trade in crude. Tehran’s foreign ministry said the arrest of Grace 1 was an act of piracy and a former leader of Iran’s Revolutionary Guard said on Twitter the Islamic Republic should take a British tanker in response. The U.S. accused Iran of recent attacks on tankers just outside the Persian Gulf.“It’s a psychological game that’s being played,” said Olivier Jakob, managing director of energy consultant Petromatrix GmbH. “Nobody wants to be that one whose vessel is seized in a ‘tit-for-tat’.”The overall oil market impact will probably be limited because Iran is unlikely to escalate the conflict beyond seizing one vessel in retaliation, he said, adding that companies will work hard to avoid being targeted.The ship, registered in the Isle of Man and flying under the British flag, had been chartered by Royal Dutch Shell Plc to transport crude from Basrah to northwest Europe, tracking data and shipbrokers said. It didn’t collect that cargo and the booking was canceled.British Heritage won’t be able to exit the Strait of Hormuz, the chokepoint through which about a third of global seaborne oil moves, without sailing close to Iran’s coast, thereby placing it at greater risk.Legal IssuesTensions between Iran and the U.K. may remain high until the legal issues surrounding the arrest in Gibraltar are smoothed out, Jakob said. That could take months, according to Anna Bradshaw, a partner at the law firm Peters & Peters, who specializes in sanctions.Tensions have escalated since the U.S. resumed sanctions on Iran, prompting the country to say it would enrich uranium in defiance of a global pact that was meant to stop that from happening.Iran may choose to enrich uranium at a higher purity level as its next step in a new policy that’s gradually undoing the restrictions imposed by a 2015 nuclear pact with world powers, the official Islamic Republic News Agency reported on Monday, citing Behrouz Kamalvandi, the spokesman for the Atomic Energy Organization of Iran.The escalation has heightened the risks for shipping companies exporting crude from the Persian Gulf. Insurance costs for both tankers and their cargoes soared in the aftermath of the attacks, while some wary owners are now choosing to refuel elsewhere.(Updates with analyst comment from fourth paragraph.)\--With assistance from Ladane Nasseri, Alex Longley, Anthony DiPaola and Sarah Chen.To contact the reporters on this story: Kelly Gilblom in London at firstname.lastname@example.org;Serene Cheong in Singapore at email@example.comTo contact the editors responsible for this story: James Herron at firstname.lastname@example.org, Alaric NightingaleFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Eon, one of the “Big Six” UK energy providers, is to shift all of its residential customers to 100 per cent renewable electricity, becoming the largest utility yet to move to green supply. The company, which supplies 3.3m British homes, said all of its customers would be moved to renewable electricity supplies from Tuesday, adding that it wanted to signal to the market that more wind and solar power will be needed in the future. “First of all, this is what customers want,” said Michael Lewis, chief executive of Eon UK.
Royal Dutch Shell has been walking a fine line between investing in its traditional oil and gas businesses while pledging to develop new ones for a low-carbon future. The Anglo-Dutch group sees part of its future in the power business, which chief executive Ben van Beurden says could be “very significant”, sitting alongside oil, gas and chemicals. Shell has “big aspirations” in the electricity sector, Mr van Beurden said at its strategy update last month, but “we are investing with care”.