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    SHEL   GB00BP6MXD84

SHELL PLC

(SHEL)
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Delayed London Stock Exchange  -  11:35 2022-08-15 am EDT
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Shell suspends sale of Nigerian onshore oil assets

06/30/2022 | 12:07pm EDT
European Business Aviation Convention & Exhibition (EBACE) in Geneva

LONDON (Reuters) - Shell has suspended plans to sell its onshore oil assets in Nigeria until the outcome of an appeal to a Supreme Court ruling over a 2019 oil spill, it said on Thursday.

"Shell welcomes the Nigerian Supreme Court's decision to hear the appeal of the Shell Petroleum Development Company of Nigeria Ltd (SPDC) in this case," the London-based company said in a statement.

"Until the outcome of SPDC's appeal, Shell will not progress the divestment of its interest in SPDC."

Nigeria's Supreme Court on June 16 upheld a lower court ruling that stopped Shell from selling its assets in Nigeria until a dispute over a lower court decision to award a Niger Delta community $1.95 billion in compensation over the spill is resolved.

(Reporting by Ron Bousso; Editing by Jan Harvey)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 0.58% 94.05 Delayed Quote.25.61%
SHELL PLC -1.49% 2182 Delayed Quote.34.54%
WTI 0.50% 88.522 Delayed Quote.21.92%
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Financials (USD)
Sales 2022 397 B - -
Net income 2022 41 807 M - -
Net Debt 2022 37 328 M - -
P/E ratio 2022 4,64x
Yield 2022 3,80%
Capitalization 193 B 193 B -
EV / Sales 2022 0,58x
EV / Sales 2023 0,59x
Nbr of Employees 82 000
Free-Float 99,9%
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Mean consensus BUY
Number of Analysts 20
Last Close Price 26,35 $
Average target price 33,72 $
Spread / Average Target 28,0%
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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 PLC34.54%196 639
SAUDI ARABIAN OIL COMPANY24.29%2 362 941
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PETROCHINA COMPANY LIMITED1.44%135 308
EQUINOR ASA51.63%119 307
PETROBRAS11.46%85 907