|Bid||2,342.50 x 0|
|Ask||2,342.50 x 0|
|Day's range||2,314.50 - 2,352.87|
|52-week range||2,227.00 - 2,725.50|
|Beta (3Y monthly)||1.16|
|PE ratio (TTM)||9.44|
|Forward dividend & yield||1.52 (6.52%)|
|1y target est||36.11|
Investors managing $15 trillion in assets turned up the heat on oil and gas sector on Wednesday ahead of a United Nations summit in New York aimed at accelerating efforts to fight climate change. Energy companies are on the front line of the global transition to a low-carbon economy, with investors potentially on the hook for hefty losses if the companies do not overhaul their business models in time.
Today we are going to look at Royal Dutch Shell plc (AMS:RDSA) to see whether it might be an attractive investment...
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Oil sank from a 3 1/2-month high amid signs Saudi Arabia is restoring production after a debilitating weekend attack on key installations.Futures closed 6.5% lower in London after the Saudi state oil company said it revived 41% of capacity at a key crude-processing complex just days after a devastating aerial attack that wrecked vital equipment and rocked global energy markets. The global benchmark sank to an intraday low of $63.55 a barrel.The announcement followed conflicting media reports about the pace and probable duration of Saudi Aramco’s efforts to repair the damaged Abqaiq facility. Despite the kingdom’s reassurances at a media briefing in Jeddah, crude remained almost 7% higher than the pre-attack price, a signal of the risk premium factored in by traders.The Saudis pledged to lift output capacity to 11 million barrels a day by the end of this month and grow to 12 million in November, Energy Minister Prince Abdulaziz bin Salman said at the briefing. Customers will be getting their supplies, and the company will tap reserves if needed to fulfill commitments, he said.Oil futures swung wildly in London and New York for the past two days after the attack on the Abqaiq complex and an important oil field crippled Saudi production and prompted U.S. Secretary of State Mike Pompeo to allege Iran was behind the incident.Adding to the bearish sentiment, the industry-funded American Petroleum Institute reported a 592,000-barrel increase in stocks for the week ended September 13, in contrast with analyst expectations for a 2.25 million-barrel decline. If government data Wednesday confirms the stock increase, it would break a four-week streak of inventory declines. The API also reported an 846,000-barrel drop in stocks at Cushing, Oklahoma, and a combined 3.6 million barrel build in gasoline and distillate inventories.Brent for November delivery fell $4.87 to $64.15 a barrel on the ICE Futures Europe exchange at 5:11 p.m. in New York.West Texas Intermediate for October delivery fell $4.09 to $58.81 on the New York Mercantile Exchange. The U.S. benchmark’s discount to Brent for the same month was $5.47 a barrel.Meanwhile, U.S. President Donald Trump said he saw no reason to allow refiners to dip into the nation’s emergency reserves.“I don’t think we need to. Oil has not gone up very much,” Trump told reporters Tuesday aboard Air Force One. “There’s a lot of oil in the world.“Saudi Aramco is firing up idle offshore oil fields -- part of its cushion of spare capacity -- to replace some lost production, a person familiar with the matter said. Some customers are being asked to accept different grades of crude. The kingdom’s domestic inventories are sufficient to cover about 26 days of exports, according to consultant Rystad Energy A/S.\--With assistance from Joe Carroll.To contact the reporters on this story: David Marino in New York at email@example.com;Sheela Tobben in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: David Marino at email@example.com, Mike Jeffers, Catherine TraywickFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Transaction in Own Shares September 17, 2019 • • • • • • • • • • • • • • • • Royal Dutch Shell plc (the ‘Company’) announces that on September 17, 2019 it purchased the following number of "A" ...
(Bloomberg) -- Oil plunged nearly 7% in London after Reuters reported Saudi Arabia is close to restoring 70% of the oil production it lost after this weekend’s attack on a key crude facility in the kingdom.Brent crude dropped to as low as $64.48 a barrel on the report, which cited an unidentified Saudi source saying the OPEC member would return to full production in the next two to three weeks. Energy Minister Prince Abdulaziz bin Salman is scheduled to hold a press briefing on Tuesday evening in Jeddah.Estimates of when, and how much, of the 5.7 million barrels a day of shut output would be back online have fluctuated since the attack. Significant volumes could come back within days, people familiar with the matter said over the weekend, adding that it could still take weeks to restore full capacity. Brent futures rose 19% in a matter of seconds at the open on Monday and ended the day up 15%, their biggest single-day advance.The worst ever sudden disruption to global oil supplies continues to reverberate as geopolitical risk premiums soar on concern over instability in the Middle East and a potential retaliation against Iran, which the U.S. has blamed for the strikes.Brent for November settlement fell $4.09 to $64.92 a barrel at 10:12 a.m. in London. Ten unmanned drones damaged one of the Saudis’ flagship fields and a key processing complex Saturday, triggering one of the wildest bouts of trading seen in oil markets.WTI for October slid $3.48 to $59.42 a barrel, after declining as much as 5.6% The U.S. benchmark’s discount to Brent for the same month narrowed to $5.54.Saudi Aramco is firing up idle offshore oil fields -- part of its cushion of spare capacity -- to replace some of the lost production, a person familiar said earlier. Customers are also being supplied using stockpiles, though some are being asked to accept different grades of crude. The kingdom has enough domestic inventories to cover about 26 days of exports, according to consultant Rystad Energy A/S.The disruption surpasses the loss of Kuwaiti and Iraqi petroleum output in August 1990, when Saddam Hussein invaded his neighbor. It also exceeds the loss of Iranian oil production in 1979 during the Islamic Revolution, according to the International Energy Agency.To contact the reporters on this story: David Marino in New York at firstname.lastname@example.org;Sheela Tobben in New York at email@example.comTo contact the editors responsible for this story: David Marino at firstname.lastname@example.org, Pratish NarayananFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Trade wars and the threat of Brexit were acting as a "profit warning" for the Dutch economy, and the government intended to increase investments to protect its future, Dutch King Willem-Alexander told parliament on Tuesday, in an address prepared by the government. The address came as Prime Minister Mark Rutte's government released details of its 2020 budget, which featured spending increases on healthcare and housing. The government also confirmed it plans to create a national investment fund next year to take advantage of its ability to borrow at negative rates.
JPMorgan has upgraded its outlook for Europe's top oil and gas companies, forecasting sharp growth in shareholder returns while striking a downbeat note on the pace of a transition to low-carbon energy. JPMorgan's bullish tone comes amid calls from some investors and activists for reduced investment in oil and gas companies due to a gradual shift towards cleaner, renewable energy. The brokerage Redburn downgraded the sector earlier this month, citing increased risks from a global transition to renewables.
With each 24-tonne steel pipe laid on the seabed of the Baltic Sea, the vessel Solitaire is edging closer to what could be a costly hold-up for the Russian-led gas pipline project which has divided the European Union. The crew onboard the Solitaire expect to reach Danish waters early next month, but Denmark has yet to approve the pipeline, which is planned to begin transporting natural gas from Russia to Germany at the end of this year. "We are now heading for the Danish border and then basically waiting for the further development of the project to be continued from the Danish border towards Germany," Captain Kenny Houben told Reuters.
Britain's blue-chip index dropped on Monday as non-oil stocks took a hit from mounting geopolitical risks and growth concerns after crude prices rose due to the attacks on Saudi Arabian production facilities. The FTSE 100 slipped 0.6% overall, but a 4% gain in BP and 2% in Shell kept a lid on losses. The FTSE 250 was down 0.7%.
U.S. shale producers have added millions of barrels to global crude supply in recent years, but that does not mean they can quickly replace barrels lost from weekend attacks on Saudi Aramco facilities, energy experts said on Sunday. Shale producers this year have been cutting budgets and workers and trimming production goals after years of heavy spending. Producers will see increased demand, especially from Asian buyers.
Chevron (CVX) stock has fallen 1.4% since July 1, 2019, the beginning of the current quarter. Prices of WTI crude oil have fallen 6.0% in the quarter.