|Bid||29.77 x 1200|
|Ask||29.70 x 900|
|Day's Range||29.70 - 31.31|
|52 Week Range||19.19 - 67.45|
|Beta (5Y Monthly)||0.93|
|PE Ratio (TTM)||7.63|
|Forward Dividend & Yield||3.76 (11.34%)|
|Ex-Dividend Date||Feb 12, 2020|
|1y Target Est||56.25|
A Saudi-Russia oil price war and economies shutting down from the coronavirus have dealt a harsh blow to the oil sector. Consolidation in some parts of the sector may come sooner than investors expect, say some.
Equinor will leave industry lobby group the Independent Petroleum Association of America (IPAA) over a disagreement about climate policy, the energy producer said on Friday. The Norwegian company is undertaking a review of its memberships of industry associations under an agreement with a group of institutional investors, the Climate Action 100+, signed last April. The Washington-headquartered IPAA represents thousands of independent oil and natural gas producers and service companies across the United States.
Biffa foresees significantly reduced demand for its industrial and commercial collection services as many clients cease or limit trading in response to the Covid-19 outbreak. Last month, Biffa published its long-term sustainability strategy Resourceful, Responsible. The company says the strategy will improve its capability to support its customers’ recycling efforts by unlocking an estimated £1.25bn of much-needed investment in UK green economy infrastructure by 2030.
In the latest trading session, Shell Oil (RDS.A) closed at $34.93, marking a +1.72% move from the previous day.
Transaction in Own Shares 27 March 2020 • • • • • • • • • • • • • • • • Royal Dutch Shell plc (the ‘Company’) announces that on 27 March 2020 it purchased the following.
NOTIFICATION AND PUBLIC DISCLOSURE IN ACCORDANCE WITH THE REQUIREMENTS OF THE EU MARKET ABUSE REGULATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES.
Oil prices reversed up as the U.S. sought to ease the Saudi-Russia rivalry, while Occidental further cut capital spending.
Oil tumbled Wednesday on demand concerns while Occidental Petroleum further cut capital spending and reduced executive pay.
Shell Chemical Pennsylvania has completed the temporary winding down of the construction of its Beaver County petrochemical complex, with 95 percent cut in the site's nearly 6,500-person workforce and plans a small staff to keep the site clean and safe while the governor's ban on construction is in place. Shell, under pressure from local and state leaders, announced Wednesday that it was temporarily suspending construction on the Potter Township polyethylene plant, a more than $6 billion project that it likely the largest in the United States as this time. It followed concerns by workers over COVID-19 and calls by the Beaver County Commission to stop construction temporarily.
Japanese trading house Mitsubishi Corp and Chubu Electric Power said on Wednesday that they have completed a 4.1 billion euro ($4.5 billion) acquisition of Dutch energy firm Eneco on March 24. In November, the Japanese companies were selected as the preferred buyers in a bid for the Dutch company, beating rival bids from Shell and private equity firm KKR. Eneco was owned by 44 Dutch municipalities and had a focus on renewable energy.
The world's biggest oil and gas firms should break an industry taboo and consider cutting dividends, rather than taking on any more debt to maintain payouts as they weather the fallout from the coronavirus pandemic, investors say. The top five so-called oil majors have avoided reducing dividends for years to keep investors sweet and added a combined $25 billion to debt levels in 2019 to maintain capital spending, while giving back billions to shareholders. Oil prices have slumped 60% since January to below $30 a barrel as demand collapsed because of the pandemic and as a battle for customers between Saudi Arabia and Russia threatened to flood the market with crude.
South Africa's largest refinery SAPREF will "minimise" maintenance to critical activities, a spokeswoman said on Wednesday, as a national lockdown looms to contain the spread of coronavirus. It accounts for 35% of the refining capacity in Africa's most advanced economy, which is a net importer of petroleum products.
Moody's Investors Service (Moody's) downgraded PERU LNG S.R.L.'s (PLNG) corporate family rating and senior unsecured rating on the company's existing notes to B1 from Ba3. The rating action was driven by Moody's expectation that PLNG will continue to post weak cash flows and that its credit metrics will remain weak in the foreseeable future given low liquified natural gas prices.
Shares of leading oil majors are rallying hard after they suspended buybacks and cut CAPEX--but maintained the all-important dividend
Even the 'Big Oil' companies don's seem to be immune to this price crash as evidenced by spending cuts by supermajors Royal Dutch Shell (RDS.A) and TOTAL S.A. (TOT).
Royal Dutch Shell (RDS.A) saw a big move last session, as its shares jumped nearly 7% on the day, amid huge volumes.
Apart from bridling costs, Shell (RDS.A) puts its $25- billion share buyback plan on the back burner to survive the current oil price distress.
The Netherlands-based Royal Dutch Shell PLC (NYSE: RDS) slashed at its spending plans for 2020, joining a growing list of oil and gas producers who have announced multibillion-dollar capital expenditure cuts for the year. At the same time, Shell plans to cut its operating costs by $3 billion to $4 billion per year over the next 12 months compared to 2019. “The combination of steeply falling oil demand and rapidly increasing supply may be unique, but Shell has weathered market volatility many times in the past.”
Oil markets are at a critical turning point, with demand plummeting and low prices forcing shale producers into a corner
Shell became the latest oil major to announce significant spending cuts to protect its balance sheet from crashing oil prices, joining other majors such as Exxon in the drive to optimize costs at oil below $30 a barrel
The two giant European oil companies announced major cuts to their budgets, will maintain their dividends.
Coronavirus cases keep rising, countries around the world are strengthening measures designed to keep people indoors — slowing the economy in the process—- and the U.S. is struggling to pass its $1 trillion-plus economic aid bill.