|Bid||1,158.20 x 0|
|Ask||1,158.40 x 0|
|Day's range||1,156.20 - 1,194.60|
|52-week range||8.89 - 2,419.50|
|Beta (5Y monthly)||0.82|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||0.50 (4.38%)|
|Ex-dividend date||13 Aug 2020|
|1y target est||36.11|
The Philippine unit of Royal Dutch Shell said on Tuesday it will permanently shut one of the country's two oil refineries, blaming a pandemic-led slump in margins, with other regional closures likely to follow, according to analysts. Pilipinas Shell Petroleum Corp said its 110,000-barrel-per-day Tabangao facility in Batangas province, which began operations in 1962, was no longer economically viable and would be turned into an import terminal. Singapore's complex refining margin <DUB-SIN-REF>, the bellwether in measuring profitability at Asian refineries, has been mostly negative since March prompting many refiners to cut output or temporarily shutter operations.
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Oil major Royal Dutch Shell <RDSa.L> plans to buy a 50% stake in Indian-based Nayara Energy's up to $9 billion planned petrochemical project, a source familiar with the matter said. Global oil majors are looking at expanding foothold in the vast Indian market, where local refiners are investing billions of dollars to boost their petrochemical capacities. Shell and Nayara - which is part-owned by Russian oil major Rosneft <ROSN.MM> - signed a memorandum of understanding in early June, the source said, adding an equal joint venture will be created for building the project.