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Shell Sees Up to $2 Billion Charge in Q2 Related to Singapore, Rotterdam Plants
Shell (SHEL) said Friday it expects to book $1.5 billion to $2 billion of non-cash post-tax impairments in Q2, mainly related to its plants in Singapore and Rotterdam, Netherlands. Earlier in the week
Shell, BP, and other companies may invest in Adnoc's largest LNG project, attracting a flurry of interest.
According to insiders, Shell, Total, BP plc, and Mitsui & Co. have agreed to invest in Adnoc's next LNG export project in Ruwais, expected to have an annual output of 9.6 million tons and elevate the UAE's LNG capacity to the second-largest in the Middle East after Qatar. Adnoc signed a construction contract worth $5.5 billion last month.
Four international giants including Shell (SHEL.US) and Total (TTE.US) will invest in ADNOC's liquefied natural gas project.
According to insiders, four international companies have agreed to invest in the next liquefied natural gas export project of Abu Dhabi National Oil Company (ADNOC) in the United Arab Emirates.
Shell Likely to Have Consensus Downgrades Despite In-Line Update -- Market Talk
Shell has given an overall in-line update, although consensus earnings should still fall by 5% to 10% from around $6 billion currently, Jefferies analyst Giacomo Romeo says. "Trading guidance was bett
Shell (SHEL.US) is expected to write off nearly $2 billion in Q2, and natural gas sales are expected to be the same as last year.
The impairment related to the suspension of work at the Dutch and Singapore factories has emerged; after achieving outstanding performance in the previous quarters, henry hub natural gas trade business may experience a slight decline.
Shell, Total and Others Said to Take Stakes in Adnoc's LNG Plant