Oil prices retreated sharply Monday, pulling energy shares lower after the United States and Iran paused military strikes over the weekend, easing immediate concerns about disruptions to global crude supplies.Energy producers and refiners moved lower in premarket trading alongside the drop in crude…
Adnoc Distribution, Abu Dhabi National Oil Co.'s fuel retail unit, has agreed to acquire Shell Plc's NYSE:SHEL fuel station business in South Africa at a $1 billion enterprise value, giving the state-backed company its first foothold in Africa's biggest economy. The transaction includes 580 retail…
Shell NYSE:SHEL signaled a mixed but resilient Q2 update as stronger refining margins and gas trading helped offset pressure from lower Middle East-linked volumes.The company guided Integrated Gas production at 610 to 650 kboe/d, down from 909 kboe/d in Q1, reflecting the impact of the Middle East…
Shell Plc's NYSE:SHEL energy trading chief David Wells is set to retire after four years leading one of the company's most important earnings engines, according to people familiar with the matter. Wells, who has run the roughly 800-person unit since March 2022, will be succeeded by Bob Kijkuit, She…
Shell NYSE:SHEL may be close to another major portfolio cleanup move.Bloomberg reported that Shell is in advanced talks to sell its South African fuel station network to ADNOC's retail arm in a deal worth about $1 billion. The transaction could be announced within days and would hand ADNOC roughly…
