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Search resuls for: "Shell plc"


8 mentions found


☆ Biden says Shell is misusing its profits by not cutting gas prices
  + stars: | 2022-10-27 | by ( ) www.reuters.com   time to read: 1 min
[1/2] U.S. President Joe Biden arrives at Hancock Field Air National Guard Base in Mattydale, New York, U.S., October 27, 2022. REUTERS/Evelyn HocksteinSYRACUSE, N.Y., Oct 27 (Reuters) - U.S. President Joe Biden blasted Shell plc (SHEL.L) on Thursday for funneling profits to shareholders rather than lowering gas prices, after the British oil giant said it would boost its dividend and buy back shares. Shell earlier on Thursday said its third-quarter profit was a near-record $9.45 billion, as it sharply boosted its dividend by 15% and announced plans to buy $4 billion more of stock over the next three months. Reporting by Nandita Bose and Trevor Hunnicutt; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.
☆ UK stocks rise as investors count on upbeat earnings
  + stars: | 2022-10-27 | by ( ) www.reuters.com   time to read: +1 min
The blue-chip FTSE 100 (.FTSE) rose 0.2%, extending gains to hit a three-week high, while the mid-cap FTSE 250 (.FTMC) up 0.4% by 0724 GMT. Shell PLc (SHEL.L) rose 2.7% as the oil heavyweight said it would sharply boost dividend after reporting a third-quarter profit of $9.45 billion, which came in slightly ahead of expectations. read moreShares of Lloyds Banking Group (LLOY.L) gave up 1.7% after the lender posted a decline in third-quarter pre-tax profit due bad loan charges. read moreThe broader European index (.STOXX) shed 0.3%, as investors cautiously await a likely 75-basis-point rate hike by the European Central bank around 1215 GMT. read moreReporting by Johann M Cherian in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.
☆ Exxon Mobil shares surge to record intraday high
  + stars: | 2022-10-21 | by ( Sabrina Valle | ) www.reuters.com   time to read: +3 min
HOUSTON, Oct 21 (Reuters) - Exxon Mobil Corp (XOM.N) shares passed their all-time high on Friday as oil prices resumed their climb and analysts raised their long-term views of top U.S. oil producer's cash flow and earnings outlook. The stock hit $105.95 early Friday, above the prior record high close of $104.59 from June 8. The strategy paid this year as an international oil supply crunch accelerated by sanctions against Russia made oil prices hit 14-highs. Oil profits allowed the company to erase the $21 billion it borrowed in 2020 to pay its bills and keep dividend distributions intact. Gas prices are rose to multi-year highs on European demand.
☆ Exxon shares surge to record high on strong earnings outlook
  + stars: | 2022-10-21 | by ( Sabrina Valle | ) www.reuters.com   time to read: +3 min
HOUSTON, Oct 21 (Reuters) - Exxon Mobil Corp (XOM.N) shares passed their all-time high on Friday as oil prices resumed their climb and analysts raised their long-term views of top U.S. oil producer's cash flow and earnings outlook. The stock hit $106.40 on Friday before closing at $105.86, above the prior record high close of $104.59 from June 8. The strategy paid this year as an international oil supply crunch accelerated by sanctions against Russia made oil prices hit 14-highs. For a time, utility operator NextEra Energy overtook Exxon as the U.S. energy company with the largest market cap. The year's profits are largely from high energy prices.
☆ Shell ties up with renewables firm for Australia battery storage project
  + stars: | 2022-10-14 | by ( ) www.reuters.com   time to read: +2 min
SYDNEY, Oct 14 (Reuters) - Shell Energy Australia, global oil and gas major Shell Plc's (SHEL.L) renewable energy business in the country, and AMPYR Australia (AMPYR) signed an agreement to develop a battery energy storage system, the companies said on Friday. The proposed 500 megawatt (MW) battery project will be built in the central west region of Australia's New South Wales (NSW) state, Singapore-based renewable energy firm AMPYR said. "(This) will be one of the largest battery storage projects in NSW, contributing to the reliability of the national electricity market and further advancing Australia's clean energy future," AMPYR Director Ben Salmon said. The environmental impact statement of the battery energy storage system project is expected to be released for public consultation later this month. Battery energy storage is essential for preventing blackouts — amid coal-fired plants being retired in Australia — as it can absorb energy during the day when prices are cheap and release the energy when wind and solar power are not available, typically when prices are higher.
☆ Exxon signs with top ammonia maker as its first client for decarbonization business
  + stars: | 2022-10-12 | by ( Sabrina Valle | Nidal Al-Mughrabi | Ahmed Mohamed Hassan | ) www.reuters.com   time to read: +2 min
Exxon says it will transport and store underground 2 million metric tons of CO2 per year produced starting in 2025, when CF Industries opens a $200 million CO2 compression facility in Louisiana to process emissions from its ammonia production. He declined to comment on financial terms of the deal with CF Industries. Exxon signed a parallel agreement to use Enlink Midstream's network to transport the CO2 to the storage site. While critics view carbon sequestration as greenwashing by polluters, Exxon says the business can achieve double-digit percentage returns while limiting planet-warming gases. The Louisiana initiative is part of the company's planned $15 billion investment by 2027 in low carbon operations.
☆ Australia Withdraws Threat of Gas-Export Curbs After Deal With Producers
  + stars: | 2022-09-29 | by ( Rhiannon Hoyle | ) www.wsj.com   time to read: 1 min
ADELAIDE, Australia—Energy companies committed to direct more natural gas to Australian consumers when shortages flare, neutralizing a threat that the government would impose caps on exports to Asia and other major markets. Gas-export ventures operated by companies including Shell PLC and Santos have agreed to first offer uncontracted gas to local buyers before seeking overseas customers under a deal that Australia’s government said should avert a domestic supply crisis next year.
☆ Tellurian says Driftwood LNG deals with Shell, Vitol scrapped
  + stars: | 2022-09-23 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Toru HanaiSept 23 (Reuters) - Tellurian Inc (TELL.A) lost two of its biggest potential customers after the U.S. liquefied natural gas developer disclosed scrapped LNG supply deals with Shell Plc (SHEL.L) and Vitol SA on Friday. Register now for FREE unlimited access to Reuters.com RegisterHouston-based Tellurian said Shell had delivered it a notice to cancel its agreement to purchase LNG from Tellurian's two Driftwood LNG export plants. Tellurian also said it sent a termination notice to global energy trader Vitol related to their separate Driftwood LNG agreement. Tellurian would have sold 3 million tonnes per annum (mtpa) of LNG each to Shell and Vitol for 10 years from its 27.6-mtpa Driftwood plants as part of the separate deals signed in 2021. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ruhi Soni in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
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