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MarketScreener Homepage  >  Equities  >  Tokyo  >  Mitsubishi Corporation    8058   JP3898400001

MITSUBISHI CORPORATION

(8058)
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Shell, Mitsubishi, Trafigura present bids for Ecuador oil contract - minister

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12/03/2019 | 03:44pm EST
The logo of Mitsubishi Corp is pictured at its head office in Tokyo

Royal Dutch Shell, Mitsubishi Corp and Trafigura presented bids for a contract to lift some 20.2 million barrels of Ecuadorean crude between 2020 and 2023, the Andean country's energy minister told reporters on Tuesday.

The country expects to pick a winner for the contract, which is expected to generate $950 million in export income for Ecuador, in the coming days, said the minister, Jose Agusto.

Ecuador invited some 51 companies to participate in the auction, the first of its kind in more than a decade. The price of the oil will be determined by a formula taking into account the price of the country's oil sales on the spot market plus a premium.

Shell, through its Shell Western Supply and Trading Unit, proposed the highest premium, according to state oil company Petroecuador.

Under the contract, Ecuador will deliver the winner four shipments of 360,000 barrels each of Oriente-grade crude in 2020 and 2021. In 2022 and 2023, the country will deliver the winner 24 shipments of the same amount per year.

Ecuador produces some 545,000 barrels per day of crude.

(Reporting by Alexandra Valencia; Writing by Luc Cohen; Editing by Jonathan Oatis)

Stocks treated in this article : London Brent Oil, Royal Dutch Shell, WTI, Mitsubishi Corporation
Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 0.03% 64.2 Delayed Quote.16.84%
MITSUBISHI CORPORATION -0.51% 2920.5 End-of-day quote.-1.47%
ROYAL DUTCH SHELL 0.12% 25.945 Delayed Quote.0.99%
WTI 0.02% 59.12 Delayed Quote.29.85%
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Financials (JPY)
Sales 2020 16 160 B
EBIT 2020 488 B
Net income 2020 515 B
Debt 2020 4 333 B
Yield 2020 4,52%
P/E ratio 2020 8,58x
P/E ratio 2021 7,85x
EV / Sales2020 0,54x
EV / Sales2021 0,54x
Capitalization 4 411 B
Technical analysis trends MITSUBISHI CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 3 112,50  JPY
Last Close Price 2 920,50  JPY
Spread / Highest target 25,0%
Spread / Average Target 6,57%
Spread / Lowest Target -10,3%
EPS Revisions
Managers
NameTitle
Takehiko Kakiuchi President, CEO & Representative Director
Ken Kobayashi Chairman
Mitsuyuki Takada Operations Manager & Executive Officer
Kazuyuki Masu Chief Financial Officer & Representative Director
Hidehiro Konno Independent Outside Director
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