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    SHEL   GB00BP6MXD84

SHELL PLC

(SHEL)
  Report
Delayed London Stock Exchange  -  11:35 2022-10-05 am EDT
2378.50 GBX   +1.73%
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More U.S. sour crude heads to Germany to replace Russia oil

08/16/2022 | 12:09pm EDT

HOUSTON/LONDON, Aug 16 (Reuters) - A second shipment of crude from a U.S. Gulf of Mexico offshore field has sailed for Germany, according to vessel tracking data and trade sources on Tuesday, as European refiners test potential replacements for Russian oil.

Europe is aiming to cut 90% of its Russian oil imports by the end of this year. Refiners are expected to look to Norway, the Middle East, the United States and West Africa for alternative supplies, according to analysts.

The hunt for substitutes has led in two recent instances to Mars, a U.S. sour grade similar to Russia's Urals.

The Ise Princess tanker loaded Mars Sour crude off the Louisiana coast and is on its way to the Baltic Sea port of Rostock, Germany, according to Refinitiv Eikon ship tracking and sources.

The second ship of Mars crude in a month is carrying about 570,000 barrels and due in Rostock Aug. 30, shipping data showed.

Shell, which operates the oilfield that produces Mars crude, declined to comment.

Rostock connects via pipeline to two northern Germany oil refineries - PCK in Schwedt and TotalEnergies in Leuna.

The first tanker of Mars sour crude discharged in Rostock earlier this month for the 233,000 barrel-per-day PCK Schwedt refinery majority-owned by Russian state firm Rosneft, with Shell and Eni holding minority stakes.

Rosneft last week warned that fuel prices in Germany would likely jump if PCK replaces Russian oil with more expensive, seaborne non-Russian barrels. It did not reply to a request for a comment this week.

Both PCK's Schwedt and TotalEnergies' Leuna refineries have received Russia's main crude grade, medium sour Urals, through the Druzbha pipeline in compliance with EU sanctions.

Grades like Mars tend to produce more distillate fuels such as diesel, jet fuel and gasoil, than gasoline. Germany depends on Russia as a major source of diesel. (Reporting by Arathy Somasekhar in Houston and Julia Payne in London; Additional reporting by Shadia Nasralla in London and Stephanie Kelly in New York Editing by Marguerita Choy)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
DOW JONES AFRICA TITANS 50 INDEX -0.36% 416.34 Real-time Quote.-21.89%
ENI SPA 1.59% 11.724 Delayed Quote.-5.56%
LONDON BRENT OIL 0.19% 93.89 Delayed Quote.13.79%
S&P AFRICA 40 INDEX 0.28% 135.72 Real-time Quote.-22.12%
S&P GSCI GAS OIL INDEX 0.21% 1007.66 Real-time Quote.53.28%
SHELL PLC 1.73% 2378.5 Delayed Quote.46.66%
TOTALENERGIES SE 1.09% 51.87 Real-time Quote.14.97%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 1.67% 60 Delayed Quote.-22.58%
VESSEL CO., LTD. -3.77% 4975 End-of-day quote.40.14%
WTI 0.29% 88.327 Delayed Quote.14.86%
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Analyst Recommendations on SHELL PLC
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Financials (USD)
Sales 2022 399 B - -
Net income 2022 42 911 M - -
Net Debt 2022 36 753 M - -
P/E ratio 2022 4,51x
Yield 2022 3,75%
Capitalization 192 B 192 B -
EV / Sales 2022 0,57x
EV / Sales 2023 0,58x
Nbr of Employees 82 000
Free-Float 99,9%
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Technical analysis trends SHELL PLC
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 19
Last Close Price 26,76 $
Average target price 33,69 $
Spread / Average Target 25,9%
EPS Revisions
Managers and Directors
Bernardus Cornelis Adriana Margriet van Beurden Vice President-Manufacturing Excellence
Sinead Gorman Chief Financial Officer & Director
Andrew Stewart Mackenzie Chairman
Harry Brekelmans Director-Technology & Projects
Yiu Kiang Goh Deputy Chairman
Sector and Competitors
1st jan.Capi. (M$)
SHELL PLC46.66%191 870
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TOTALENERGIES SE14.97%129 191
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EQUINOR ASA56.59%112 290
PETROBRAS10.26%85 132