|Bid||1,393.60 x 0|
|Ask||1,394.60 x 0|
|Day's range||1,377.80 - 1,435.60|
|52-week range||845.10 - 1,783.00|
|Beta (5Y monthly)||1.00|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||0.50 (3.44%)|
|Ex-dividend date||18 Feb 2021|
|1y target est||36.11|
(Bloomberg) -- Oman’s government is transferring its stake in one of the Middle East’s largest oil blocks to a newly-established energy firm as the cash-strapped sultanate looks to use the asset to raise debt.State-owned Energy Development Oman will hold the country’s 60% stake in Block 6, according to a royal decree published on Sunday. The stake is being moved from another government company, Petroleum Development Oman.Oman, which is struggling to finance a soaring budget deficit, aims to leverage its energy assets and EDO may issue around $3 billion of bonds in the first half of 2021, Bloomberg had previously reported.Block 6, off Oman’s coast, has a production capacity of 650,000 barrels a day. Royal Dutch Shell Plc holds 34%, while Total SE owns 4%.The government appointed Haifa Al Khaifi as head of EDO last month. She joined from PDO and is also chairwoman of the Saudi Arabian unit of State Street Corp., the Boston-based custodian and money manager.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
While there is still plenty of potential new oil supply on the market, particularly from OPEC+, analysts remain very bullish and banks are beginning to talk about $100 oil
Royal Dutch Shell in Germany aims to produce aviation fuel and naphtha made from crops and renewable power and to increase to commercial scale an electrolysis plant that makes fossil-free hydrogen, as it seeks to move away from crude oil. The energy major told an online conference on Friday it had applied for subsidies to carry out the work from the European Union and from German funds earmarked for decarbonisation. Fabian Ziegler, head of Shell Deutschland, said several hundred million euros should be spent per year, but he did not give a desired ratio between company and public funding.