| Shell Gets Exploration Permit for Silistar Block in Bulgaria | |
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Royal Dutch Shell plc RDS.A has been selected by Bulgaria for carrying out exploration activities at the country’s offshore oil and gas block. Although Shell and Bulgaria have not yet entered into a deal, an agreement is likely to be signed by the end of October.
Bulgaria depends primarily on natural gas imported from Russia. So to reduce its dependence, Bulgaria opened tenders for Silistar block 1-14 and Teres block 1-22 a few months back. Out of the two, Shell came up as the only bidder for Silistar, which is located off the coast of Black Sea and spreads over 7,000 square kilometers. Most importantly, Silistar is the largest block in the Black Sea.
According to Temenuzhka Petkova, energy minister of Bulgaria, the country has chosen Shell for the exploration permit at its Silistar Block for a period of five years. It is to be noted that Shell has promised to invest roughly $21 million for the block’s seismic surveys.
Shell is one of the largest integrated energy firms in the world with a strong and diversified portfolio of development projects that offer attractive long-term opportunities. Moreover, Shell’s $70-billion buyout of BG Group will boost its strong and diversified portfolio of global energy businesses that offer attractive long-term growth opportunities.
However, the oil price slump has affected Shell’s earnings and cash flows, in particular at its upstream unit. Moreover, Shell’s ADRs are expected to remain soft due to its major natural gas focus and lofty capital spending.
As a result, Shell currently carries a Zacks Rank #3 (Hold), which implies that the stock will perform in line with the broader U.S. equity market over the next one to three months.
Meanwhile, some better-ranked players in the energy sector are Tesoro Corporation TSO, Matrix Service Company MTRX and Alon USA Partners, LP ALDW. Each of these stocks sports a Zacks Rank #1 (Strong Buy).
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Royal Dutch Shell
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CODE : RDSA.AS |
ISIN : US7802592060 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Royal Dutch Shell est une société de production minière de pétrole basée au Pays-Bas. Royal Dutch Shell est cotée au Pays-Bas, au Royaume-Uni, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 187,4 milliards €UR (214,0 milliards US$, 191,9 milliards €). La valeur de son action a atteint son plus haut niveau récent le 24 mai 2018 à 31,38 €UR, et son plus bas niveau récent le 30 octobre 2020 à 10,10 €UR. Royal Dutch Shell possède 8 222 179 840 actions en circulation. |