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    RDSA   GB00B03MLX29

ROYAL DUTCH SHELL PLC

(RDSA)
  Report
Real-time Quote. Real-time Euronext Amsterdam - 12/07 11:39:05 am
19.968 EUR   +1.05%
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Royal Dutch Shell : Oil giants revel in profits amid gas price crisis

10/25/2021 | 01:21am EST

OIL GIANTS such as Shell and BP are set to reveal massive profits after global gas prices soared.

Shell will forecast post-quarterly revenue of £1.5bn for its natural gas division, when it reports on Thursday, Gas prices have risen globally amid a worldwide shortage in supplies.

The cost of gas has increased for suppliers by over 250 per cent since the start of the year.

Asian liquified natural gas (LNG) has reported prices four times higher than the third quarter of 2020.

The sharply increasing wholesale costs has resulted in an energy crisis in the UK, with 13 firms ceasing trading since the start of September.

This includes four companies - Pure- Planet, Colorado Energy, Daligas and Goto Energy - collapsing in the past fortnight alone. While consumers domestically are currently protected by Ofgem's £1,277 price cap, this is expected to increase at the next review in April 2022.

Oil prices have also climbed, with Brent rising more than 60 per cent since the start of the year, reaching a nine-year-high of $86.10 last week.

Shell's shares have rocketed 35 per cent during the same period to £17.49 while BP's have increased 40 per cent to 356p.

BP will announce is third-quarter results in November. Shell is seen to be reaping the rewards of its £47bn acquisition of rival BG Group, a major LNG producer in 2016.

The sector is now under pressure to invest more in renewables, with governments set to meet in Glasgow for the COP26 climate conference.

The UK wants the G20 nations to continue their commitment to limiting global temperature rises to 1.5 degrees, and for net zero carbon emissions by 2050.

The carbon emissions commitment is being matched by BP, which has also announced plans to increase low carbon investment tenfold by 2030.

It is also revealed plans to decrease oil and gas production 40 per cent by the end of the decade. Shell is targeting carbon footprint cuts of 20 per cent by 2030, and 100 per cent by 2050 for all its products.

(c) 2021 City A.M., source Newspaper

Stocks mentioned in the article
ChangeLast1st jan.
BP PLC 1.30% 351 Delayed Quote.33.77%
ROYAL DUTCH SHELL PLC 1.05% 19.968 Real-time Quote.36.64%
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Financials (USD)
Sales 2021 259 B - -
Net income 2021 15 763 M - -
Net Debt 2021 50 608 M - -
P/E ratio 2021 10,6x
Yield 2021 3,98%
Capitalization 172 B 172 B -
EV / Sales 2021 0,86x
EV / Sales 2022 0,74x
Nbr of Employees 87 000
Free-Float 99,2%
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Technical analysis trends ROYAL DUTCH SHELL PLC
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Mean consensus BUY
Number of Analysts 14
Last Close Price 22,51 $
Average target price 27,48 $
Spread / Average Target 22,1%
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Managers and Directors
Bernardus Cornelis Adriana Margriet van Beurden Chief Executive Officer & Executive Director
Jessica Rodgers Uhl Chief Financial Officer & Director
Andrew Stewart Mackenzie Chairman
Harry Brekelmans Director-Technology & Projects
Gerrit Zalm Independent Non-Executive Director
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