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    SHEL   GB00BP6MXD84

SHELL PLC

(SHEL)
  Report
Delayed London Stock Exchange  -  11:35 2022-10-04 am EDT
2338.00 GBX   +1.67%
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Rosneft says replacing Russian oil at German refinery will cause fuel price jump

08/12/2022 | 02:08pm EDT

Aug 12 (Reuters) - Russia's Rosneft said on Friday that fuel prices in Germany will likely jump if the PCK Schwedt refinery it owns alongside Shell and Eni replaces Russian pipeline oil supplies with more expensive, seaborne non-Russian barrels.

The European Union plans an almost-complete embargo of Russian barrels by year-end, and is trying to wean itself off Russian crude imports, which have fed inland refineries in Germany, Poland and other central European nations via pipeline.

Rosneft said the refinery's capacity would be cut by half if supplied only via pipeline from the German Baltic Sea port of Rostock. It currently receives all its supplies via the Druzhba pipeline from Russia.

"According to our estimates, the loss from PCK's operation in this mode will be about 300 million euros per year," Rosneft said.

"The replacement of even a part of Russian supplies will lead to underloading of the plant and a sharp increase in the cost of petroleum products, the shortage of which is already a serious threat to the German consumer market today."

A spokesman for Rosneft declined to give further details.

A tanker of U.S. sour crude oil was delivered to Rostock last week for the first time ever to feed into PCK Schwedt, according to sources, analysts and vessel tracking data. (Writing by Shadia Nasralla; Editing by Leslie Adler)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.29% 0.64922 Delayed Quote.-11.58%
BRITISH POUND / US DOLLAR (GBP/USD) -0.18% 1.143 Delayed Quote.-17.70%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.17% 0.73884 Delayed Quote.-8.29%
ENI SPA 2.65% 11.54 Delayed Quote.-8.00%
EURO / US DOLLAR (EUR/USD) -0.17% 0.99646 Delayed Quote.-13.52%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.07% 0.012268 Delayed Quote.-8.63%
LONDON BRENT OIL -0.40% 91.36 Delayed Quote.12.85%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.26% 0.5747 Delayed Quote.-17.80%
S&P GSCI CRUDE OIL INDEX -0.38% 472.2129 Real-time Quote.10.89%
SHELL PLC 1.67% 2338 Delayed Quote.44.16%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.03% 59 Delayed Quote.-19.64%
VESSEL CO., LTD. 2.38% 5170 End-of-day quote.45.63%
WTI -0.48% 86.068 Delayed Quote.10.63%
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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
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Mean consensus BUY
Number of Analysts 19
Last Close Price 26,74 $
Average target price 33,76 $
Spread / Average Target 26,3%
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
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