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    SHEL   GB00BP6MXD84

SHELL PLC

(SHEL)
  Report
Delayed London Stock Exchange  -  11:35 2022-09-30 am EDT
2246.50 GBX   +0.22%
09/30Transaction in Own Shares
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09/30European ADRs Move Higher in Friday Trading
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09/30Korean Air Signs MOU With Shell To Explore 5-Year SAF Supply From 2026 -- OPIS
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Shell sells oil stake from the sea floor: energy giant offloads Cambo project

08/12/2022 | 01:21am EDT

SHELL has kickstarted the sale process for its 30 per cent stake in the Cambo oil project in the North Sea, following months of speculation over its future role in the project.

The energy giant has hired investment bank Jefferies to run the sale process, according to news agency Reuters.

The move potentially paves the way for the field's development, which is operated and 70 per cent owned by Ithaca Energy.

Ithaca's chairman Gilad Myerson told Reuters it could deliver up to 170m barrels of oil during its 25-year operational life.

Alongside disagreements over its economic potential, the site has become the focus for climate activists seeking to halt the development of new oil and gas resources.

However, the government has come out in support of developing North Sea oil and gas resources following Russia's invasion of Ukraine.

A Shell spokesperson declined to comment.

(c) 2022 City A.M., source Newspaper

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Analyst Recommendations on SHELL PLC
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Financials (USD)
Sales 2022 400 B - -
Net income 2022 43 304 M - -
Net Debt 2022 37 115 M - -
P/E ratio 2022 4,23x
Yield 2022 4,00%
Capitalization 180 B 180 B -
EV / Sales 2022 0,54x
EV / Sales 2023 0,54x
Nbr of Employees 82 000
Free-Float 99,9%
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Mean consensus BUY
Number of Analysts 19
Last Close Price 25,03 $
Average target price 33,87 $
Spread / Average Target 35,3%
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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