Shell Plc Sponsored ADR (LSE:SHEL) faces a tense week as Kazakh authorities froze NCOC assets in a ~$5B dispute while arbitration looms, even as Pernis refinery units restart, Gulf output risks from Tropical Storm Bertha threaten its exposure, and Egypt negotiates 15–18 monthly LNG cargoes for 3–5 year deals.
Previous Week Recap
- Shell Kashagan Dispute: NCOC Assets Frozen: Shell Plc Sponsored ADR (SHEL) is a Kashagan oilfield partner via NCOC; Kazakh authorities froze NCOC assets July 21 over an alleged ~$5B environmental fine; dispute in international arbitration.
- Pernis Refinery Unit Restarted: Shell Plc ADR (SHEL) restarted its 200,000 bpd crude unit at Pernis refinery on July 20 after a brief outage; the 25,600 bpd vacuum distillation unit was shut on July 18.
- Bertha Storm Hits Gulf Output: Tropical Storm Bertha may disrupt Gulf oil output; Earth Science Associates said ~1.5 million b/d could be affected and listed Shell Plc Sponsored ADR (SHEL) as highly exposed.
- Egypt Talks LNG With Shell: Egypt talks with Shell Plc Sponsored ADR (SHEL) to secure 15–18 LNG cargoes monthly on 3–5 year deals as it seeks medium-term supply amid tight markets and rising import costs
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