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☆ Worried about lofty valuations? Berenberg names 5 top stocks in a 'cheap' sector
▼ + stars: | 2024-03-19 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

As concerns swirl about lofty valuations in the stock market and investors focus on AI companies, strategists at Berenberg see one sector as a relative bargain: energy. The global energy sector is trading around record low valuations relative to the broader market, according to the German investment bank. "The European energy sector has never been this cheap on trailing price/book multiples, both on an absolute and relative basis," the bank said. Aside from valuations, Berenberg also suggested that fundamentals support owning energy stocks. "Tight energy markets are likely to underpin oil prices and support an improving earnings backdrop for the energy sector," the Berenberg analyst said.

Persons: Jonathan Stubbs, Berenberg, Energean —, Stubbs Organizations: Mar, Shell, Harbour Energy Locations: TotalEnergies, U.S, Russia, Ukraine

“This agreement marks an important milestone for Shell in Nigeria, aligning with our previously announced intent to exit onshore oil production in the Niger Delta,” Zoe Yujnovich, Shell’s integrated gas and upstream director, said in a statement. The assets that Shell is selling are largely owned by the Nigerian government’s national oil company NNPC, which holds a 55% stake. However, pollution from oil and natural gas production has prevented residents from accessing clean water, hurt farming and fishing, and heightened tensions. Despite joint military operations and a government benefits program for former militants that accompanied the amnesty deal, the Niger Delta remains volatile. The oil industry faces risks of violence, including pipeline vandalism by oil thieves, whom companies often blame for oil spills.

Persons: — Shell, Shell, Zoe Yujnovich, France's TotalEnergies, ”, Ledum Mitee, Dumnamene Organizations: Shell, Aradel Energy, Nigerian, Eni, Movement, Ogoni, Youths, Environmental Advocacy, AP Locations: ABUJA, Nigeria, Niger Delta, West, London, Ogoni People, Niger, Guinea

The hundreds of fossil fuel-connected people make up just a tiny share of the 90,000 people who registered to attend the climate summit known as COP28. “Let history reflect the fact that this is the Presidency that made a bold choice to proactively engage with oil and gas companies,” al-Jaber said. COP28 comes as the planet faces a mounting imperative to reduce greenhouse gas emissions. David Hone, Shell's chief climate adviser, is in Dubai for at least his 17th appearance at the annual climate talks. At the moment, it's preventing about 0.1% of the energy sector's carbon emissions from reaching the atmosphere, according to the IEA.

Persons: Bob Deans, Deans, Sultan al, Jaber, “, ” al, COP28, TotalEnergies, Paul Naveau, Patrick Pouyanné, ” Naveau, Naveau, Shell, that's, ”, Arthur Lee, David Hone, Hone, Rachel Rose Jackson Organizations: The United Nations, U.S, Resources Defense, United Arab Emirates, Global, Coalition, Shell, TotalEnergies, BP, AP, Nations, UN, didn't, ”, International Energy Agency, IEA, Chevron, Corporate Locations: United Nations, Dubai, Chevron, Shell's

☆ ‘Go to hell, Shell’: Climate protesters try to storm stage at oil giant’s annual shareholders meeting
▼ + stars: | 2023-05-23 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

The protests come as Shell faces a shareholder vote on a measure to increase its climate ambitions following a year of record profits at the company. Bloomberg | Bloomberg | Getty ImagesLONDON — Shell Chief Executive Wael Sawan and the firm's board of directors on Tuesday were shielded by security staff as climate protesters unsuccessfully tried to storm the stage at the British oil giant's annual shareholders meeting. Follow This, a small Dutch activist investor and campaign group with stakes in several Big Oil companies, tabled a resolution at Shell's shareholders meeting. For the first time, Dutch pension managers MN and PGGM — both Shell shareholders — have endorsed the resolution. The company described Climate Resolution 26 as "unclear, generic and would create confusion as to Board and shareholder accountabilities."

☆ Shell Joins U.S. Oil Majors in Posting Record 2022 Profit
▼ + stars: | 2023-02-02 | by ( Jenny Strasburg | ) www.wsj.com time to read: 1 min

LONDON— Shell PLC became the latest oil giant to post a record annual profit last year, joining American peers in surging back from early pandemic losses on soaring energy prices. Shell’s $41.6 billion full-year profit surpassed the London-based company’s previous record of $31.4 billion in 2008, measured on a net current-cost-of-supplies basis—a figure similar to the net income that U.S. oil companies report.

☆ Shell Posts $42 Billion Profit, Adding to Industry’s Record Haul
▼ + stars: | 2023-02-02 | by ( Jenny Strasburg | ) www.wsj.com time to read: 1 min

Shell’s results are the first reported under Chief Executive Wael Sawan. LONDON— Shell PLC became the latest oil giant to post a record annual profit last year, joining American peers in surging back from early pandemic losses on soaring energy prices. Shell’s $41.6 billion full-year profit surpassed the London-based company’s previous record of $31.4 billion in 2008, measured on a net current-cost-of-supplies basis—a figure similar to the net income that U.S. oil companies report.

☆ Shell, Awash With Cash, to Boost Dividend, Share Buybacks
▼ + stars: | 2022-10-27 | by ( Jenny Strasburg | ) www.wsj.com time to read: 1 min

LONDON— Shell PLC said it plans to boost its dividend and buy back another $4 billion of its shares in the coming months, as the oil major continued to benefit from strong demand for natural gas in difficult-to-navigate markets. Shell on Thursday reported a higher third-quarter profit compared with the same period a year ago, even as price volatility in energy markets took a bite out of earnings in its core natural-gas trading business. Earlier this month, the company had warned that natural-gas price swings and lower margins from fuel-refining would cut into its third-quarter earnings.

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