ADVFN Logo

Hot Features

Registration Strip Icon for charts Inscrivez-vous pour des graphiques en temps réel, des outils d'analyse et des prix.

Retourner à la liste

Ajouter une Discussion

Rafraîchir

Utilisateurs Filtrés

Mes Alertes

Mon Profil

Règles

Royal Dutch Shell

- 28/10/2015 10:53
Grupo GuitarLumber Messages postés: 1715 - Membre depuis: 24/6/2003

(CercleFinance.com) - Après avoir renoncé, le mois dernier, à un projet offshore au nord de l'Alaska, la major pétro-gazière Royal Dutch Shell continue de sabrer ses actifs d'Amérique du Nord. C'est cette fois le projet de Carmon Creek, situé dans l'Etat canadien de l'Alberta réputé pour ses sables bitumineux et dont le potentiel était chiffré à 80.000 barils/jour, qui passe à la trappe. Ce qui occasionnera une charge pour dépréciation de l'ordre de deux milliards de dollars sur les comptes du 3e trimestre, attendus le 29 octobre.

Le projet était sur la sellette depuis mars 2015. Hier, Shell a annoncé qu'après avoir passé en revue le projet d'un point de vue technique et avoir mis à jour ses hypothèses de coûts, il ne considérait plus, en l'état actuel des choses, que Carmon Creek pouvait figurer au sein de son portefeuille d'actifs.

Le directeur général, Ben van Beurden, a déclaré que cette décision s'était imposée au groupe en raison notamment de la faiblesse actuelle des cours du pétrole.

L'un de problèmes dénoncés le plus clairement : l'absence d'infrastructure permettant de transporter le brut qui aurait été extrait de ce projet vers les “marchés pétroliers globaux”.

Les travaux de développement du gisement seront gelés et jusqu'à ce qu'une décision soit prise, une maintenance minimale des infrastructures actuelles sera de rigueur.

De ce fait, les comptes du 3e trimestre seront grevés par une provision pour dépréciation de l'ordre de deux milliards de dollars (1,8 milliard d'euros environ).



Réponses
245 Réponses
   4   ... 
61 de 245 - 01/4/2016 12:04
maywillow Messages postés: 1324 - Membre depuis: 27/1/2002

(CercleFinance.com) - Toujours à l'achat sur l'action Royal Dutch Shell (Xetra: A0ET6Q - actualité) , UBS (London: 0QNR.L - actualité)

a relevé ce matin son objectif de cours de 1.800 à 1.950 pence (soit

24,60 euros). Les analystes saluent la refonte stratégique mise en place

par la 'major' pétro-gazière anglo-néerlandaise, notamment le rachat de

BG Group (EUREX: 1007667.EX - actualité) . Et ils jugent que le marché ne la prend pas suffisamment en compte.



A la Bourse de Londres, l'action Shell (London: RDSB.L - actualité) de classe A se tass ecependant de 0,8% à 1.670 pence, quand à Amsterdam elle plie de 1,4% à 21 euros.



'Dans

un secteur de l'énergie en plein bouleversement, Shell a entrepris de

se réformer avec audace', indique une note de recherche. Selon UBS,

l'acquisition de BG Group permet au groupe de concentrer son

portefeuille sur des actifs de haute qualité, un bon point étant donné

l'historique de Shell en termes opérationnels.



En outre, cette

opération devrait aussi être l'occasion de 'réinitialiser' le profil de

l'action Shell en tant qu'investissement en mettant davantage l'accent

sur la rentabilité et la génération de cash. Et finalement en réduisant

le profil de risque du groupe dans un marché énergétique très volatil.

UBS a notamment revu à la hausse ses prévisions de synergies entre Shell

et BG Group.



Prochain catalyseur en vue : la journée investisseurs que Shell organisera le 7 juin prochain.

62 de 245 - 01/4/2016 15:18
maywillow Messages postés: 1324 - Membre depuis: 27/1/2002

(CercleFinance.com) - Le (Taiwan OTC: 8490.TWO - actualité)

bureau d'études Nomura a confirmé ce matin son conseil d'achat sur

l'action de la 'major' anglo-néerlandaise Royal Dutch Shell (Xetra: A0ET6Q - actualité) . Selon les analystes, l'action Shell (London: RDSB.L - actualité)

offre le plus fort potentiel de hausse via des restructurations de son

secteur. L'objectif de cours reste fixé à 1.750 pence (environ 23,7

euros).



A Londres ce midi, l'action Shell de classe A perd 1,3% à 1.662 pence, quand à Amsterdam elle cède 1,8% à 20,9 euros.



L'intégration de BG Group (EUREX: 1007667.EX - actualité)

, sujet sur lequel Shell devrait faire le point le 7 juin prochain dans

le cadre de sa journée investisseurs, est la clé de voûte de

l'argumentation de Nomura. Selon eux, l'éventuelle dégradation de la

notation crédit du groupe de 'Aa1' à 'A+' par les agences Moody's et

Standard & Poor's devrait inciter le directeur général, Ben van

Beurden, à accélérer les cessions et les réductions d'investissements

avant d'envisager de toucher au dividende.



Les analystes

rappellent que la major américaine Exxon, considérée comme la valeur la

plus proche de Shell, a d'ailleurs réduit de 25% son budget

d'investissement pour 2016. 'C'est cette stratégie que le patron

opérationnel de Shell devrait suivre', pronostique une note de

recherche.

63 de 245 - 03/4/2016 20:01
grupo Messages postés: 1061 - Membre depuis: 11/5/2004

Iran says Shell cleared all debts


Iran says Shell cleared all debts

An Iranian official said on Sunday that
the global energy giant Royal Dutch Shell has cleared all outstanding
payments from previous oil sales and other related deals.


The announcement was made by Ali-Asqar Hendi, the head of the Debts Settlement Committee of the Ministry of Petroleum of Iran.


Hendi had previously said that Shell owes Iran over $2 billion.


The company had in early March announced that it had paid €1.77 billion
(£1.4 billion) it owed the National Iranian Oil Company (NIOC),
settling debts after sanctions against the country were lifted in
January.


The outstanding debt to Iran was a result of Iranian oil deliveries
which Shell had been unable to pay for due to sanctions, Reuters
reported on 7 March.


The Anglo-Dutch company resumed talks with Tehran on the debt after
most Western sanctions were lifted in January. The payments were made
over the next few weeks after the removal of the sanctions in euros as
dollar transactions are still under US sanctions, Reuters added.


Analysts believe that the move will now allow Shell to access the
Iranian oil market. This is because the NIOC has been working to recover
its debt, as a precondition to start exporting oil to Shell.


Shell, along with its European peers, has already showed a keen
interest to return to the Iranian oil and gas projects. The Anglo-Dutch
oil giant alongside BP, Total, and Statoil, sent a delegation to Tehran
in November last year, to explore opportunities in the upstream sector
of the country.


The company was involved in the development of Iran’s Soroush and
Norouz oil fields in Persian Gulf waters. It was also planning to
develop a gas liquefaction project called Persian LNG in Iran’s South
Pars energy zone. However, it later cancelled its plans to that effect
as a result of the sanctions.


The sanctions - that were lifted in January - for multiple years
imposed tight limits on Iran’s financial transactions with the world.
They also prevented companies from investing in the country’s energy
projects among other restrictions.

64 de 245 - 05/4/2016 08:57
grupo Messages postés: 1061 - Membre depuis: 11/5/2004

3 Reasons Royal Dutch Shell's Stock Could Rise



April 04, 2016, 09:55:05 AM EDT
By Tyler Crowe, The Motley Fool, Motley Fool






Comment

































shell-olympus-platform-via-flickrcom_lar



Image Source: Royal Dutch Shell via flickr.com



The past half decade has not been too kind to shares of
Royal Dutch Shell

. Even when oil was at $100 a barrel or more, troubles with
overspending led to shares going pretty much nowhere. Once the
oil price plunge hit a little less than two years ago, things
got even worse.





RDS.B Chart





RDS.B

data by
YCharts



Like so many other companies, the prospects of Shell's stock
price is going to wax and wane with the price of oil. Beyond
that, though, there are a few things that management is doing
that could help boost its share price over the long term. Let's
look at three catalysts that could help Shell put its shares
back on track in the coming years.




Robust LNG demand




For the most part, integrated oil companies avoid being overly
concentrated to a single aspect of the oil and gas industry.
They all have similar percentages of upstream & downstream
assets, and the same for a balance between oil and gas
production. The theory is that by having a broad, balanced
portfolio of assets, it helps to smooth out some of the
volatility in the market.



That being said, Royal Dutch Shell is making a pretty
outsized bet on the globalization of natural gas through LNG
shipments. With BG Group into the fold now, Shell's LNG
footprint is larger than the next two integrated oil companies
combined




rds-lng-plans_large.png



Image Source: Royal Dutch Shell investor presentation



We have started to see a bit of a decline in LNG prices, and
that has led some companies to rethink some of their LNG
investments a few years down the road. Ultimately, though, LNG
is a strong business for integrated oil companies because it's
mostly conducted with long term supply contracts that aren't
influenced too much by the fluctuation of

natural gas prices

. If Shell can realize some strong demand across its LNG
portfolio, it would likely provide a strong source of free cash
flow that can be used to pay dividends and other shareholder
friendly initiatives.




Strong cost savings from BG Group integration




Royal Dutch Shell pretty has much no control of the price of
the commodities which it sells, so the only real thing that the
company can control is its costs and its capital allocation.
This issue has come to the forefront for oil and gas producers
as they try to handle the low price environment, but it's quite
pertinent for Shell because it has just recently completed the
$50 billion acquisition of BG Group.



According to Shell, it believes that it can realize pre-tax
cost savings of $3.5 billion by 2018. To meet that sort of
ambitious savings, it will involve lots of job cuts and
consolidating operations in places were the company has large
overlap like Brazil, Australia, Egypt, and North America.




rds-explroation-overlap_large.png



Image Source: Royal Dutch Shell investor presentation



So there are plenty of opportunities to be more selective
about capital spending and to reduce costs in overlapping
regions. The real challenge now, though, is to actually execute
on those cost cuts. Trying to reshape the corporate culture and
operating procedures can be a daunting task, and the size of BG
Group will make it that much more challenging in the first
several months.



If management can indeed meet its stated goals for lower
operational expenses and more targeted capital spending, then
it should really help the company boost its returns on capital,
something Shell has struggled with in recent years. A boost in
returns could go a long way in earning Shell a higher valuation
multiple and send its share price higher.




Making good on shareholder return program




For a long term shareholder, this is probably the most
important catalyst for the company's stock in the coming years.
In 2017, when management believes the BG integration will be
mostly complete and
oil
prices

were be in a better place, the company intends on buying back
about $25 billion worth of the company's stock over a three
year period. The company is waiting until 2017 to start the
program because it can't cover today's capital spending and
dividend payments with cash from operations. Management
estimates that by 2017, all capital spending and dividend
payments will be covered with cash, and some remaining from
asset sales and excess cash flow can go into repurchases.



A large portion of that is to help recover the share
dilution that took place following the BG acquisition, but if
the combined companies were to lead to much higher overall
earnings, then removing that many shares should go a long way
in boosting per share profits.



So much of this shareholder return program is predicated on
oil prices, though. The combined company and its estimated cost
cutting is expected to bring the company's production
break-even price from $70 per barrel to the low-to-mid $60
range. It's an improvement, but still quite a ways off from
today's oil prices. If we don't see a decent rebound in oil
prices between now and 2017, though, this major share
repurchase program may need to be put on the back burner.




What a Fool believes




I -- and no one, really -- can predict where Shell's stock will
go in the next couple of months. With so many factors
influencing oil prices, Shell's stock could go in any direction
that oil prices go in the short term. Longer term, though,
strong LNG demand, realizing the cost benefits from the BG
merger, and making good on its shareholder return program would
go a long way in boosting Shell's per share value. For
investors, the thing to watch out for in the near term is any
news or progress related to cost savings related to the Shell
merger, if that goes off well, then it should help to set up
that large buyback program.






The stupid-simple way to score a 22% dividend




There's nothing better than cold, hard cash. That's why the
savviest investors are using five simple dividend "tricks" to
unlock the mountains of cash stocks are delivering to
investors on a silver platter. to learn how you could score
your cut of the profits too!






The article
3 Reasons Royal Dutch Shell's Stock Could
Rise

originally appeared on Fool.com.




Tyler Crowe

has no position in any stocks mentioned.





















You can follow
him at Fool.com


or on
Twitter




@TylerCroweFool



.























The Motley Fool has no position in any of the stocks
mentioned. Try any of our Foolish newsletter services
free for 30 days

. We Fools may not all hold the same opinions, but we all
believe that
considering a diverse range of insights

makes us better investors. The Motley Fool has a
disclosure policy

.


Copyright © 1995 - 2016 The Motley Fool, LLC. All rights
reserved. The Motley Fool has a

disclosure policy


.






The views and opinions expressed
herein are the views and opinions of the author and do not necessarily
reflect those of Nasdaq, Inc.


Read more: http://www.fool.com/investing/general/2016/04/04/3-reasons-royal-dutch-shells-stock-could-rise.aspx#ixzz44vtBeTVx

65 de 245 - 05/4/2016 19:52
La Forge Messages postés: 1338 - Membre depuis: 03/8/2000


  • @oilandenergy

10:51 AM ET



hand-holding-petrol-pump



Getty Images


A violent crossing of the demand and supply may cause a steep rise in oil prices





RECOMMENDED FOR YOU





Watch Taylor Swift Fall Off a Treadmill While Rapping to Drake





Watch Taylor Swift Fall Off a Treadmill While Rapping to Drake







Donald Trump Sells Another Condo at Trump Park Avenue



Promoted



Donald Trump Sells Another Condo at Trump Park Avenue








Recommended by



Today, I’m going to try and tackle the reasoning for my ‘wild’ predictions
for oil reaching triple digits by the end of 2017. While I am nearly
alone in these forecasts, they are not just pulled out of space, but
with deep regard for the fundamental supply/demand picture that everyone
mostly agrees upon, combined with what I think is a deeper insight into
the likely trajectory of oil company leverage, financing and the role
of financial oil derivatives.

Despite the technical nature of this discussion, I think I can make a
strong case for $120 oil in 2018 using only two charts of my own making
– one charting global demand, which is more universally agreed upon,
and then an overlay of global production, which is more open to
prediction.

Oilprice.com: Advantage U.S. In The Global Petroleum Showdown?

First, demand: Almost all analysts including the EIA and IEA agree
that demand continues to grow at a steady pace throughout the rest of
the decade, and even a minor economic downturn will only slow the pace
of growth (green line), but not upend the upward trend line of demand.
Sorry to those environmentalists who pray for an end to carbon use
growth in the next decade – virtually no one currently believes it will
happen.

demand-curve-1
Courtesy of Oilprice.com

Now, let’s overlay the rudimentary global production line(s) on top,
put some likely dates on this chart and describe some of the possible
scenarios:

full-curve-1Courtesy of Oilprice.com

First, we notice that the blue line of production going back before
the oil crash is steeper than the demand line – hence the current gluts
we are experiencing and low barrel prices. Low prices have made
production growth begin to slacken, which I’ve indicated by easing the
slope of the light blue line. It’s clear that if nothing else happened
from here, we’d still see future production outstrip demand – hence some
analysts’ fear of never seeing triple digit oil prices, or at least a
much lower for much longer scenario.

Oilprice.com: Saudi Arabia Tries to Slow Iran Oil Exports, Without Much Success

But most analysts agree that the sharp drop in Capex budgets, not
just among shale producers, will have its effect on sharply lowering
production this year and putting growth in reverse, efficiencies and
well cost reductions notwithstanding. What’s critical to note is how the
media, and surprisingly most analysts, see global oil merely through
the prism of U.S. independent shale players. To me, this is the critical
grave mistake they make. Recent lease outcomes in the Gulf of Mexico,
problems in Brazil and the likely end of spending for all new Russian
oil projects are just a few of the other gargantuan gaps in global
production we’re likely to see after 2016.

I’ve drawn two lines in black on production; one that most of the
analysts including the EIA are making in how they see this production
curve playing out, and mine – how I see it likely playing out.

While the EIA and most other analysts agree that sharp capex drops
will begin to have their halting effects on oil production, they tend to
argue over when those production drops come and how steep they will be.
In all cases, they argue that any drop in production will be answered
by a rally in oil prices, to the degree that U.S. shale players again
‘turn on the spigots’ and reestablish the gluts that have kept us under
$50 a barrel for most of the last year. In this scenario, production
never – or at least exceedingly slowly – rebalances to match demand.

I see it much differently.
I could argue that the shale players, even with their low well drilling
costs and backlog of ‘drilled but uncompleted wells’ (DUCs) cannot in
any way repeat their frantic production increases they achieved from
2012-2014 ever again. I believe this because of financing constraints
and the lack of quality acreage among other reasons – but I don’t have
to even “win” this predictive argument.

Oilprice.com: Why We Could See An Oil Price Shock In 2016

Longer-term projects from virtually all other conventional and
non-conventional sources that have not been funded for the past two
years will see their results, in that there won’t be the oil from them
that was planned upon. Chevron estimated in 2013 that oil companies
would have to spend a minimum of $7-10 trillion dollars to 2030 to
merely keep up with demand growth and the natural decline of current
wells. And this was without factoring in the drop in exploration
spending that is occurring now and throughout the next two years. Severe
capex cuts from virtually every oil company and state-run producer over
the last two years has put this necessary spending budget way behind
schedule.

You can see why I tend to have a much more radical view of the decline line in production beginning in late 2016
and lasting, in my view, at least until the middle of 2018, when
production again only begins to get the funding (and time) it needs to
try and “catch up”.

Meanwhile, there will be, as I see it, a violent crossing of the
demand and supply lines in my graph – and an equally violent move in the
price of oil because of it.

Finally, when this trajectory becomes obvious, the financial markets
will waste no time taking full advantage of it – with a massive influx
of speculative money, driving up prices even more quickly and steeply.

I’ve seen that before – and am currently alone in believing how close we are in seeing it again.

This article originally appeared on Oilprice.com

66 de 245 - 05/4/2016 20:18
La Forge Messages postés: 1338 - Membre depuis: 03/8/2000



How Risky Is Royal Dutch Shell's Stock?


Despite its massive size and vertically integrated
business model, there are still some risks that anyone invested in Royal
Dutch Shell should consider.




Shell Fpso Via Flickr

Image source: Royal Dutch Shell via Flickr.

Investors looking for some form of stability over the long term have
turned to integrated oil and gas stocks. Their ability to throw off gobs
of cash and pay generous dividends over time has been a pretty
attractive proposal. One thing that makes investors in these companies
nervous is when the market for oil and gas tanks, or when one of these
companies makes a transformative acquisition.

Royal Dutch Shell (NYSE:RDS-A) (NYSE:RDS-B) is in the middle of both right now.

With Shell working through the BG merger while the energy market is
working through one of its toughest periods in recent history, some
might be curious as to how risky Shell's stock is today. Let's take a
quick look at the two biggest risks for shareholders today.

An over-promise on the dividend?
Over the past
couple years, as oil prices have declined, dozens of companies across
the space have been forced to preserve cash by cutting dividends. The
one last bastion where dividends have remained consistent is with
integrated oil companies. Having assets across the entire value chain of
oil has helped to make up for the massive losses experienced on the
production side of the business.

However, with oil prices this low, those Big Oil dividend payments
are becoming rather onerous. Dividend yields for almost all of these
companies are at multi-decade highs, and with dividend payments at Shell
and BP (NYSE:BP) pushing the 8% mark, there are questions about whether those payments can actually continue.

RDS.B Dividend Yield (TTM) Chart

RDS.B Dividend Yield (TTM) data by YCharts.

Shell's management has said on multiple occasions that its dividend
is a priority, but we've heard many other companies say that and
subsequently cut dividends. To help offset the more than $9 billion in
annual dividend payments, Shell has enacted a scrip dividend program via
which investors can take dividend payments in the form of newly issued
shares. This will help to offset some of the cash outlays for the
company, but that's typically only necessary when a company is
cash-strapped. Another thing to consider is that now, thanks to the BG
merger, Shell has a lot more shares that need to receive a dividend each
quarter.

Shell's dividend payment isn't something that will completely break
the company. If the operating environment for oil and gas companies were
to deteriorate much further, then Shell has the option to cut the
dividend to preserve a lot of cash. From an investor's standpoint,
though, a dividend cut would mean two things: 1) We would likely see a
large price drop in the short term, and 2) those invested in Shell over
the long term will generate much lower total returns. That's something
the company can ill afford as its total returns over the past 20 years
have wildly underperformed its peers, and it hasn't even been able to
keep pace with the S&P 500.

RDS.B Total Return Price Chart

RDS.B Total Return Price data by YCharts.

Making a big bet on megaprojects...again
Typically,
integrated oil and gas companies are rather risk-averse. To mitigate
risk, they build balanced portfolios with production coming from a wide
variety of sources so they aren't tied too closely to a single market.
That is why it's a little surprising to see Shell make two pretty
concentrated bets on LNG and deepwater production. By acquiring BG
Group, Shell's LNG production will be more than double that of the
next-largest LNG producer, ExxonMobil (NYSE:XOM).

Looking even further down the road, Shell has another large suite of
LNG projects under consideration that could expand Shell's lead in LNG
over the next decade.

Rds Lng Hopper

Image source: Royal Dutch Shell investor presentation.

Another realm in which Shell is doubling its efforts is in deepwater
projects, especially in Brazil, where BG Group has sizable investments
over the next few years.

Rds Lng Hopper

Image source: Royal Dutch investor presentation.

The reason these investment plans stick out is because they are very
much the same kind of investments that -- some say -- got big oil
companies in trouble over the past couple of years. These
multibillion-dollar projects with long lead times mean there's very
little wiggle room in capital spending budgets as oil prices wax and
wane. So, it's a little surprising to see Shell double-down on these
kinds of investments.

Other companies, notably Chevron (NYSE:CVX)
and ExxonMobil, have shifted more toward other investments such as
shale, which have lower upfront capital obligations and shorter
investment cycles. In doing so, they can make their capital spending
budgets a little bit more responsive to current market conditions.

This isn't to say Shell is wrong in making these kinds of
investments. LNG could be a very lucrative market for it, and global
demand for oil suggests that more deepwater production will be needed.
However, by making more concentrated bets on LNG and deepwater rather
than trying to balance its production portfolio with a more diverse
stream, Shell exposes itself to a bit more risk than some of its peers.

What a Fool believes
In the grand scheme of
things, Royal Dutch Shell isn't what you would call a "risky" stock. As
the world's second largest publicly traded oil and gas company, it has
immense competitive advantages such as economics of scale and access to
cheap credit in a capital-intense industry. When you compare Shell
specifically to its peers, though, some aspects of its look slightly
riskier than the others. Shell's decision to make concentrated bets on
megaprojects (again) and the possibility of a dividend cut if market
conditions were to deteriorate any more could really hurt long-term
returns for investors.

I can't fault investors who want to invest in Shell's stock because of the potential benefits, but there are better options in the integrated oil and gas space today that seem slightly less risky based on today's market.

A secret billion-dollar stock opportunity
The
world's biggest tech company forgot to show you something, but a few
Wall Street analysts and the Fool didn't miss a beat: There's a small
company that's powering their brand-new gadgets and the coming
revolution in technology. And we think its stock price has nearly
unlimited room to run for early-in-the-know investors! To be one of
them, just click here.

Tyler Crowe owns shares of ExxonMobil. You can follow him at Fool.com or on Twitter @TylerCroweFool.

The Motley Fool owns shares of and recommends ExxonMobil. The
Motley Fool recommends Chevron and Total (ADR). Try any of our Foolish
newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

67 de 245 - 08/4/2016 18:42
La Forge Messages postés: 1338 - Membre depuis: 03/8/2000

Royal Dutch Shell - More Reasons To Buy

Apr. 8, 2016 11:10 AM ET|3 comments

|

About: Royal Dutch Shell plc (RDS.A), RDS.B

Alpha Investor

Alpha Investor Follow (1,521 followers)

Long/short equity, value, special situations, growth

Send Message

Summary

Royal
Dutch Shell’s downstream business was a tailwind last year due to
strong refining margins, but it has got off to a rough start this year.

However, refining crack spreads have started improving of
late due to an increase in demand for gasoline and heating oil, which
had taken a hit during the winter season.

Gasoline demand in 2016 has grown impressively after a
weak January and is tracking ahead of last year’s levels, which is good
news for Shell as crack spreads will improve.

Shell has improved the efficiency of its downstream
business by using advantaged feedstocks, which has enabled it to reduce
capacity and volumes but improve margins.

Shell’s refining business will improve due to the Norco
refinery in Louisiana since it produces high-value gasoline blendstock
and is closely integrated with a petrochemical plant nearby.

Last month, I had focused on why the upstream business of Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B)
is in for better times going forward on the back of a recovery in crude
oil prices. However, of late, the oil rally has started losing steam as
the Brent has dropped below
$40 a barrel once again. But, even if the upstream business of Shell
faces weakness due to low oil prices, its downstream business will act
as a tailwind due to low input costs.

For instance, in the fourth quarter last year, earnings from Shell's downstream business stood at
$1.5 billion as compared to $1.6 billion in the year-ago quarter. In
comparison, earnings from the upstream business had dropped to $500
million from $1.7 billion in the year-ago period. This clearly indicates
that Shell is witnessing strength in the downstream business, and it is
likely that this momentum will continue this year despite a rough
start. Let's see why.

Improving crack spreads will be a tailwind

So far this year, refining crack spreads have remained weak as compared to last year. For instance, the East Coast 6-3-2-1 refining crack spreads
have averaged $6.31 per barrel in the first quarter of 2016 as compared
to $10.44 a barrel in the year-ago period. Similarly, the Gulf Coast
refining spreads are down to $9.22 a barrel as against $13.62 a barrel
in the year-ago quarter.

This weakness in the refining crack
spreads so far this year is a result of low demand for gasoline and
heating oils, as the usage of these refining products has dropped due to
the winter season in the U.S. as this has kept cars off the roads. For
instance, according to the latest data, demand for gasoline in U.S. in
the month of January dropped
0.6% on a year-over-year basis, marking the first decline in 14 months.
As a result, the oversupply in the market increased and led to a drop
in refining crack spreads.

According to Phil Flynn of Price Futures Group:

"The
historic late January blizzard that buried much of the U.S. Northeast
under mountains of snow hurt demand, Flynn said. "People in New York
City couldn't find their car, so this was probably a one-off," Flynn
said."

But, the good thing is that refining crack
spreads have started picking up pace of late and are now close to 2015
levels. This is shown in the charts given below:

41314476-14600920795018919.png

Source: Howard Weil

Thus,
as evident from the charts above, refining margins across all regions
in the U.S. have now improved. This is not surprising as gasoline prices
and demand usually pick up pace in the spring and summer seasons as
more cars get on the road. For instance, last year, gasoline consumption
by motorists in America stood at 9.16 million bpd, and this year,
demand is already tracking ahead of last year's rate at 9.4 million bpd.

Now,
looking ahead, this positive trend in gasoline consumption will
continue as sales of motor vehicles in the U.S. are expected to rise
once again this year. For instance, after hitting sales
of around 17.5 million units in 2015, which was the highest in 15
years, auto sales in the U.S. are expected to rise once again in the
coming two years. For instance, according to IHS, the U.S. auto market
will grow to 18 million units in the next couple of years, which will lead to higher consumption of gasoline.

Therefore,
the weakness in the gasoline market should be short-lived due to higher
demand, and allow Shell to gradually improve its downstream performance
going forward. More importantly, Shell is well-placed to make the most
of an increase in gasoline demand and refining crack spreads going
forward as the company has streamlined its refining segment to achieve
higher margins.

Shell's efficient downstream business will be a tailwind

Shell
has managed to improve the efficiency of its downstream business by
deploying higher grade feedstock and improving supply. As a result, the
company has been able to generate stronger returns from a more
streamlined portfolio, improving its earnings, cash flow, and returns
over the years. Additionally, despite lowering its marketing volumes by
30% and refining capacity by 20%, the company has managed to retain its
margins in the refining business. This is shown in the chart below:

41314476-14600921039583237.png

Source: Royal Dutch Shell

Going forward, Shell's feedstock footprint is anticipated to improve further after the break-up of
its joint venture with Saudi Aramco last month. As a result of the end
of this relationship, Shell will now be able to increase gasoline
production from the Norco refinery in Louisiana since it produces
high-value gasoline blendstock. Additionally, the Norco refinery is
closely integrated with a petrochemical plant of Shell that's located
nearby, giving shell integration benefits and lower costs.

Conclusion

Thus,
an improvement in the gasoline market will gradually lift crack spreads
going forward, and this will be a tailwind for Royal Dutch Shell's
downstream business. Moreover, since Shell has focused on improving the
efficiency of its downstream operations, it will be able to improve its
earnings and returns as the crack spreads improve. So, apart from a
potential improvement in the upstream business, strength in the
downstream is another reason why investors should be positive about
Royal Dutch Shell.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this
article myself, and it expresses my own opinions. I am not receiving
compensation for it (other than from Seeking Alpha). I have no business
relationship with any company whose stock is mentioned in this article.

68 de 245 - 08/4/2016 23:10
La Forge Messages postés: 1338 - Membre depuis: 03/8/2000

Well, this is a bit of a disappointment. We have
oil flying (up nearly 7 percent!), we have a weak dollar, we have China
quiet all week, and we have a dovish Fed that traders believe have put some kind of floor under the market.

And this is all we get? The Dow Industrials
up 40 points in a lackluster, average-volume session? In the past
months, if oil would be up 7 percent and the dollar would be weak, we
would have been up 200-250 points. What's wrong?

You can argue oil may be
decoupling from the markets. Maybe. But the usual suspects that would
benefit from a weak dollar are all up: energy, materials, industrials.
In fact, there's more than four stocks advancing for every one
declining.

So, why the crummy point action?













Traders work on the floor of the New York Stock Exchange. Pisani: Here's what's next for stocks

I think the problem is that the "V" rally is over.

Remember, we dropped big in
January and February on fears of a recession. We rallied back when it
became clear that: 1) a recession is highly unlikely, and 2) the Fed is
so dovish that they are putting a "floor" under the markets.

So, a good part of the rally was
predicated on a dovish Fed, which we now have. A more dovish Fed is now
priced in to the market.

As for oil, if you believe $26 is
the bottom — and as time goes by it is increasingly looking like that is
the case — it is getting harder to get an equity reaction. The main
worry was, where's the bottom?

The problem is not finding a
bottom, it's how much upside there is to the market. Investors are not
enthusiastic about buying at these levels because they're not at all
sold on paying up with stocks near historic highs and no appreciable
global growth outside the U.S.




















<p>Pisani: Energy is dominating</p>
<p>CNBC&#039;s Bob Pisani looks ahead at the
markets as the energy sector is up over 1.5 percent after a surge in oil
prices.</p>


What about earnings? We all know that earnings
are down four consecutive quarters. Intuitively, this sounds like it is
not good news, and I certainly agree.

But all weak earnings does is put a ceiling on stocks. And there is a ceiling: the markets topped out a year ago. Right?

So, we have a floor to the market, and we have a ceiling. What's this all mean?

Trading range. I said the market
was a "solid hold" two weeks ago, and nothing I have seen since then has
made me change my mind.













Traders work on the floor of the New York Stock Exchange. Here's how earnings declines affect stock markets

What would change this dynamic? If we could inch
our way to a new high — 2,130 was the old historic high, way back in May
2015 — it would be a breakout from the range and might force some
marginal money back in.

What could go wrong? We got an inkling this week: if investors come to believe that central bankers are toothless tigers. Haruhiko Kuroda, governor of the Bank of Japan, implied more quantitative easing was coming this week, and the yen rallied. Not good. Confidence eroding.

There's still confidence in ECB President Mario Draghi and Fed Chair Janet Yellen,
as worry, but the cat is out of the bag, and worry about the limits of
central bank intervention can now be added as a risk factor.

Bob Pisani

Bob PisaniCNBC "On-Air Stocks" Editor

69 de 245 - 09/4/2016 21:02
Grupo GuitarLumber Messages postés: 1715 - Membre depuis: 24/6/2003

Moody's abaisse la note de Total

  • email.png
  • print.png

  • fb.png

  • tw.png

  • lk.png

  • vd.png







Soyez le premier à réagir !



Publié le 09/04/2016 à 20h46

L'agence de notation
Moody's met la pression sur le groupe pétrolier français Total, et
ajuste son approche des dossiers Royal Dutch Shell et BP au regard de
cours du pétrole attendus à 38 $ le baril en 2017...



Moody's abaisse la note de Total


Crédit photo © Reuters

(Boursier.com) — Dans une revue des sociétés pétrolières, Moody's
Investors Service a abaissé la note de crédit long terme non garantie de
Total
de 'Aa1' à 'Aa3'. En outre, la note junior subordonnée du groupe
pétrolier est ramenée de 'Aa3' à 'A2'. La note court terme P-1 est
confirmée. Ces perspectives de notations sont toutes à 'stable'. Moody's
a par ailleurs procédé à des ajustements de notation sur BP et Shell.

PUBLICITÉ

inRead invented by Teads

Sanctionné à cause de la faiblesse des prix pétroliers

Pour
l'agence de notation, il s'agit de refléter par cette approche "la
pression continue sur le flux de trésorerie d'exploitation et de
traduire la faiblesse durable des prix du pétrole". Moody's explique
encore :: "La dégradation des notes de Total reflète principalement
notre anticipation d'un maintien prolongé de bas prix du pétrole en 2016
et 2017. Ils continueront à peser sur le cash-flow opérationnel et les
critères de crédit de Total".

Désendettement difficile

Moody's
ajoute que Total a réduit ses coûts opérationnels et d'investissement,
mais peine à se désendetter à court terme. La compagnie désinvestit pour
compenser le free cash flow négatif des deux prochaines années, ce qui
permet à Moody's de maintenir une perspective de notation à 'stable'.
Moody's est susceptible de revoir sa notation à moyen terme, quand les
prix du pétrole remonteront et si Total reprend le paiement du dividende
en espèce. L'agence de notation anticipe néanmoins de la part du groupe
pétrolier français des cash flows modérément négatifs dans les 3
prochaines années.

Ajustements des notes de Shell et BP

Moody's
-qui table sur un cours du baril à 33 dollars en 2016, 38 $ en 2017 et
43 $ en 2018- a par ailleurs dégradé de 'Aa1' à 'Aa2' la notation crédit
de Royal Dutch Shell. Cette nouvelle appréciation s'accompagne d'une
perspective crédit 'negative'. En d'autres termes, Moody's maintient la
pression sur le groupe en agitant la perspective d'une future
dégradation. Moody's a enfin confirmé à 'A2' la notation long terme de
BP. Celle-ci est assortie d'une perspective 'positive'.

70 de 245 - 12/4/2016 10:41
La Forge Messages postés: 1338 - Membre depuis: 03/8/2000

Shell (RDSA.LN) envisagera d'investir dans des
opportunités en Iran, a indiqué mardi son directeur général Ben Van
Beurden. "Nous savons que l'industrie pétrolière et gazière en Iran a
été un peu privée d'innovations technologiques de tout premier ordre.
C'est ce que des entreprises comme la nôtre peuvent apporter", a-t-il
déclaré, en marge d'une conférence sur le gaz naturel liquéfié en
Australie. "Mais nous savons aussi que les responsables iraniens avec
lesquels nous devrons traiter sont de formidables négociateurs." Il a
ajouté que le groupe ne savait pas encore quels termes et conditions
l'Iran pourrait offrir, et que si Shell étudiera les occasions dans ce
pays, elles devront se mesurer aux autres opportunités du groupe.





-Robb Stewart, Dow Jones Newswires (Version française Céline Fabre) ed: VLV





(END) Dow Jones Newswires



April 12, 2016 03:56 ET (07:56 GMT)

71 de 245 - 12/4/2016 12:42
La Forge Messages postés: 1338 - Membre depuis: 03/8/2000

Shell 'A' (NYSE:RDSA)
Graphique Intraday de l'Action

Aujourd'hui : Mardi 12 Avril 2016

Plus de graphiques de la Bourse Shell

Shell (RDSA.LN) envisagera d'investir dans des opportunités en Iran, a
indiqué mardi son directeur général Ben Van Beurden. "Nous savons que
l'industrie pétrolière et gazière en Iran a été un peu privée
d'innovations technologiques de tout premier ordre. C'est ce que des
entreprises comme la nôtre peuvent apporter", a-t-il déclaré, en marge
d'une conférence sur le gaz naturel liquéfié en Australie. "Mais nous
savons aussi que les responsables iraniens avec lesquels nous devrons
traiter sont de formidables négociateurs." Il a ajouté que le groupe ne
savait pas encore quels termes et conditions l'Iran pourrait offrir, et
que si Shell étudiera les occasions dans ce pays, elles devront se
mesurer aux autres opportunités du groupe.





-Robb Stewart, Dow Jones Newswires (Version française Céline Fabre) ed: VLV





(END) Dow Jones Newswires



April 12, 2016 03:56 ET (07:56 GMT)

72 de 245 - 12/4/2016 23:15
sarkasm Messages postés: 1319 - Membre depuis: 26/2/2009

Les cours pétroliers ont fini mardi au plus haut de l'année,
poursuivant leur rebond à la faveur de rumeurs sur un nouvel accord
entre Ryad et Moscou pour stabiliser leur offre, en pleine spéculations
sur l'issue d'une réunion dimanche entre pays producteurs.




Le cours du baril de référence (WTI) pour livraison en mai a gagné
1,81 dollar à 42,17 dollars sur le New York Mercantile Exchange (Nymex),
soit un niveau où il n'avait plus terminé depuis novembre.




Les cours, qui avaient déjà fortement monté depuis une semaine, ont
accéléré mardi après que l'agence de presse russe Interfax "a annoncé
que la Russie et l'Arabie saoudite étaient parvenus à un consensus sur
un plafonnement de leur production", a rapporté dans une note Tim Evans,
de Citi.



Ces rumeurs viennent alimenter les
spéculations des investisseurs à l'approche d'une réunion entre pays
producteurs dimanche à Doha, au Qatar, à laquelle participeront l'Arabie
saoudite, membre dominant de l'Organisation des pays exportateurs de
pétrole (Opep), et la Russie, qui ne fait pas partie du cartel. Le but
affiché est de trouver un accord susceptible de limiter l'actuelle
surabondance d'or noir.



"Il faut quand même noter que
(l'Arabie et la Russie) étaient déjà parvenues à un accord,- conditionné
à la participation d'autres producteurs -, lors d'une réunion le 16
février à Ryad", a relativisé M. Evans, pour qui le consensus évoqué
mardi appartient donc "aux archives" plutôt qu'à l'actualité.




L'accord de février, également accepté par le Qatar et le Venezuela,
avait déjà permis aux cours de massivement rebondir après être tombés au
plus bas depuis 2003. Mais les marchés avaient peu à peu commencé à
s'interroger, non seulement sur son extension à d'autres participants
mais aussi sur l'éventualité d'une baisse concertée de l'offre, au-delà
d'un simple gel.



Désormais, la confiance semble revenir
et "les investisseurs se projettent sur la réunion de Doha", a reconnu
Mike Lynch, de Strategic Energy & Economic Research. "Le sentiment
général, c'est que l'on a atteint un plancher... Mais je crains
franchement que ce soit exagéré et que l'on soit allés trop vite."




Ce sentiment était partagé par de nombreux observateurs, qui mettent
déjà en garde sur un brusque repli du marché au cas où la réunion de
Doha déboucherait sur une issue décevante, même si la prudence des
commentaires contraste avec l'ampleur du rebond des cours.



jdy/jld/elc






(END) Dow Jones Newswires



April 12, 2016 16:19 ET (20:19 GMT)

73 de 245 - 15/4/2016 17:35
waldron Messages postés: 9806 - Membre depuis: 17/9/2002

04/05/16 | 08:00 Q1 2016 Publication de résultats

74 de 245 - 18/4/2016 00:02
maywillow Messages postés: 1324 - Membre depuis: 27/1/2002

Pas d'accord à Doha sur le pétrole




Actualités des marchés


  • Toute l'info
  • Séance en direct
  • A ne pas manquer demain
  • Opinions
  • Calendrier
  • Dossiers










REUTERS |
Le 17/04/16 à 22:50


Les tensions entre l'Arabie saoudite et l'Iran persistent. Ryad exige
que la république islamique s'associe au gel de la production. Pour
Téhéran, stabiliser la production effacerait les bénéfices attendus de
la levée des sanctions. L'échec à Doha devrait tirer les cours du brut
vers le bas.





1544647_1460897883_1544641-1460884487-15

Les tensions Iran-Arabie menacent un accord sur le pétrole | Crédits photo : Sophie James / Shutterstock.com





Les tensions Iran-Arabie menacent un accord sur le pétrole | Crédits photo : Sophie James / Shutterstock.com

par Rania El Gamal et Reem Shamseddine

DOHA, 17 avril (Reuters) - Les discussions de Doha entre pays producteurs de pétrole membres de l'Opep ou extérieurs au cartel se sont achevées ce dimanche sans accord sur un "gel" de la production, l'Arabie saoudite ayant exigé que l'Iran se joigne au mouvement.

PUBLICITÉ

inRead invented by Teads

Même si les concertations vont se poursuivre, l'issue de cette réunion entre ministres du Pétrole
va raviver les inquiétudes des acteurs du secteur, qui redoutent que
les pays producteurs ne relancent la course aux parts de marché, ce qui
risquerait de porter un coup d'arrêt à la remontée du prix du baril.

L'Arabie saoudite notamment a menacé d'accroître sa production si aucun n'accord n'était trouvé.

Dix-huit pays, dont la Russie
qui ne fait pas partie de l'Organisation des pays exportateurs de
pétrole (Opep), étaient représentés à Doha pour finaliser un accord dans
les tuyaux depuis février et qui aurait stabilisé la production
jusqu'en octobre prochain à ses niveaux de janvier.

Mais Ryad,
chef de file de l'Opep, a insisté pour que tous les pays membres de
l'Opep soient partie prenante à ce gel concerté de la production, y
compris l'Iran. Or, la République islamique, absente dimanche à Doha, se
refuse à stabiliser sa production au moment où la levée des sanctions
occidentales liées à son programme nucléaire peut lui permettre de
reprendre pied sur le marché mondial de la production de brut.

"Si
l'Iran gèle sa production pétrolière au niveau de février, cela
signifiera qu'il ne peut pas bénéficier de la levée des sanctions", a
expliqué le ministre iranien du Pétrole, Bijan Zanganeh.

SOUS LES 40 DOLLARS ?

Au
terme de cinq heures de discussion tendue, notamment entre l'Arabie
saoudite et la Russie, sur la formulation d'une éventuelle déclaration
finale, délégués et ministres ont annoncé qu'aucun accord n'avait été
trouvé.

"Nous avons conclu que nous avions tous besoin de temps
pour de nouvelles consultations", a déclaré le ministre qatari de
l'Energie Mohamed al Sada. Plusieurs sources au sein de l'Opep ont
précisé que si l'Iran acceptait de s'associer au gel de la production
lors de la prochaine réunion du cartel, prévue le 2 juin, les
discussions avec les autres pays producteurs pourraient reprendre.

Le ministre russe du Pétrole, Alexander Novak,
a regretté les exigences "déraisonnables" de l'Arabie saoudite et s'est
dit déçu de l'issue de la réunion de Doha. Alors, dit-il, qu'il était
arrivé au Qatar
avec le sentiment qu'il s'agissait de parvenir à un accord, et non de
débattre, il s'est dit surpris par ces nouvelles exigences formulées
dimanche matin.

L'échec de la réunion de Doha pourrait mettre un terme à la récente remontée des cours pétroliers.

"Avec
l'absence d'accord aujourd'hui, la confiance des marchés dans la
capacité de l'Opep à parvenir à un accord équilibrant la production va
probablement baisser et cela va certainement avoir un effet baissier
sur les marchés pétroliers, où les cours se sont en partie redressés
sur l'anticipation d'un accord. Sans accord, les probabilités d'assister
à un rééquilibrage des marchés sont désormais repoussées à la mi-2017",
a résumé Abhishek Deshpande, spécialiste du pétrole chez Natixis.

L'espoir d'une limitation concertée de l'offre mondiale avait permis au baril de Brent
de rebondir à près de 45 dollars, en progression de 60% par rapport aux
plus bas touchés en janvier autour de 27 dollars, après la chute qui
lui avait fait perdre plus de 75% depuis le pic à 115 dollars de la
mi-2014.

Anticipant une réaction impulsive des marchés, Amrita
Sen, experte chez Energy Aspects, estime que le baril pourrait retomber
sous le seuil des 40 dollars ce lundi.

"Même si l'absence d'un
accord de gel n'a pas de conséquence négative sur les équilibres --
puisque l'Iran est véritablement le seuil pays susceptible d'accroître
sa production de manière substantielle --, elle va avoir un immense
impact négatif sur le sentiment (des marchés), surtout au vu du battage
médiatique qu'il y a eu autour de cet accord", explique-t-elle.
(Bertrand Boucey, Eric Faye, Marc Angrand et Henri-Pierre André pour le
service français)


En savoir

plus sur

http://investir.lesechos.fr/marches/actualites/les...

75 de 245 - 27/4/2016 18:24
grupo Messages postés: 1061 - Membre depuis: 11/5/2004

Royal Dutch Shell Filing of Annual Financial Report

27/04/2016 3:10pm

UK Regulatory (RNS & others)


 
TIDMRDSA TIDMRDSB

Filing of Annual Financial Report
· · · · · · · · · · · · · ·· ·· ·· ··

A copy of the annual financial report for:

* Shell International Finance BV

has been submitted to the National Storage Mechanism and available for
inspection at :

http://www.morningstar.co.uk/uk/NSM

The accounts can also be viewed on the Shell website at:

http://www.shell.com/investors/financial-reporting/
shell-international-finance-bv-reports.html

Enquiries

Shell Media Relations

International, UK, European Press: +44 (0)207 934 5550

Shell Investor Relations

Europe: + 31 70 377 3996

United States: +1 713 241 1042



END


(END) Dow Jones Newswires


April 27, 2016 11:10 ET (15:10 GMT)

76 de 245 - 28/4/2016 22:30
La Forge Messages postés: 1338 - Membre depuis: 03/8/2000

Les cours du pétrole ont confirmé jeudi leur bonne disposition en
finissant comme la veille au plus haut de l'année, malgré l'absence
d'actualités notables sur le marché de l'or noir.



Le
cours du baril de référence (WTI) pour livraison en juin a gagné 70
cents à 46,03 dollars sur le New York Mercantile Exchange (Nymex),
terminant pour la troisième séance de suite à un niveau de clôture sans
précédent depuis novembre.



A Londres, le prix du baril
de Brent de la mer du Nord pour livraison en juin a monté de 96 cents à
48,14 dollars sur l'Intercontinental Exchange (ICE), lui aussi au plus
haut depuis novembre.



"Les investisseurs se détournent
de la surabondance actuelle et passent à l'achat sur des considérations
techniques", notamment le passage de cours jugés symboliques, a résumé
Bart Melek, de TD Securities. "On vise probablement les 50 dollars pour
le Brent".



L'actualité de jeudi n'a guère donné
d'éléments susceptibles de justifier cette nouvelle hausse qui s'inscrit
dans la foulée d'un rebond de quelque 75% depuis la mi-février. Les
cours étaient alors tombés au plus bas depuis 2003, face à la pléthore
d'or noir dans le monde.



"C'est dur de comprendre pourquoi les cours du pétrole sont si hauts!", a reconnu James Williams, de WTRG Economics.




Les observateurs en étaient donc réduits à remonter aux nouvelles de
la veille, en premier lieu les chiffres hebdomadaires sur l'offre
américaine.



"Même si les chiffres sur les réserves
étaient décevants", puisqu'elles ont monté à un niveau historiquement
élevé, "la production américaine continue à décliner", a remarqué M.
Melek.



Le recul persistant de la production américaine,
qui s'installe désormais sous les neuf millions de barils par jour
(bj), est devenu la principale lueur d'espoir de résorption de la
surabondance mondiale, après l'échec de négociations entre d'autres pays
producteurs à la mi-avril.



Autre facteur de soutien
depuis le début de la semaine, le dollar s'affaiblit, ce qui rend plus
intéressants les cours pétroliers, libellés en monnaie américaine.




Même si la Réserve fédérale a contribué mercredi à cet affaiblissement
en s'abstenant comme prévu de relever ses taux, c'est surtout "le yen
japonais (qui) fait de son mieux pour supporter les cours en montant
comme un fou face à l'inertie de la Banque du Japon (Boj)", a remarqué
dans une note Matt Smith, de ClipperData.



Le dollar
chutait de quelque 3% face à la devise japonaise après la décision de
politique monétaire de la BoJ, qui, en renonçant à accélérer une
politique déjà très interventionniste, a déçu les fortes attentes des
marchés mais a éclairci les perspectives du yen.






(END) Dow Jones Newswires



April 28, 2016 15:13 ET (19:13 GMT)

77 de 245 - 02/5/2016 22:09
Ariane Messages postés: 1317 - Membre depuis: 29/9/2002

Royal Dutch Shell plc 1Q 2016 -- Forecast

02/05/2016 2:28pm

Dow Jones News


Shell B (LSE:RDSB)
Intraday Stock Chart

Today : Monday 2 May 2016

Click Here for more Shell B Charts.


FRANKFURT--The following is a summary of analysts' forecasts for Royal
Dutch Shell plc (RDSA) first-quarter results, based on a poll of six
analysts conducted by Dow Jones Newswires. Figures in million dollars,
EPS and dividend in dollar, target price in pence, production in
thousand barrel of oil per day (kboe/d), according to IFRS). Earnings
figures are scheduled to be released May 4.

=== 
CSS CCS
Earnings EPS Production
1st Quarter adjusted(a) adj.(a) (kboe/d)
AVERAGE 849 0.12 3,531
Prev. Year 3,246 0.52 3,166
+/- in % -74 -76 +12
Prev. Quarter 1,825 0.29 3,039
+/- in % -53 -57 +16

MEDIAN 949 0.13 3,495
Maximum 1,330 0.18 4,007
Minimum 200 0.07 3,027
Amount(b) 6 6 6

Canaccord 200 0.08 4,007
Deutsche Bank 1,017 0.14 3,194
Jefferies 1,330 0.18 3,469
Morgan Stanley 1,188 0.15 3,521
Santander 880 0.12 3,969

Target price Rating
Canaccord 1,550 Hold
Deutsche Bank 2,035 Buy
Jefferies 2,404 Buy
Santander 1,953 Buy
Morgan Stanley -- Overweight
===


Year-earlier figures are as reported by the company.


(a) Clean cost of supplies.


(b) Including anonymous estimates from one more analyst.

DJG/mus 


(END) Dow Jones Newswires


May 02, 2016 10:13 ET (14:13 GMT)

78 de 245 - 03/5/2016 17:17
Grupo GuitarLumber Messages postés: 1715 - Membre depuis: 24/6/2003

Shell B (LSE:RDSB)
Graphique Intraday de l'Action

Aujourd'hui : Mardi 3 Mai 2016

Plus de graphiques de la Bourse Shell B

Le géant pétrolier et gazier anglo-néerlandais Royal Dutch Shell
(RDSA.LN) devrait annoncer mercredi un bénéfice ajusté, qui exclut les
éléments exceptionnels, de 1,5 milliard de dollars au titre du premier
trimestre, en baisse de 52% par rapport aux 3,2 milliards de dollars
enregistrés un an auparavant, d'après les prévisions de deux analystes
sondés par Thomson Reuters. Il s'agit des premiers résultats que Shell
publiera depuis son acquisition de BG Group cette année, pour 50
milliards de dollars environ. L'intégration de son rival de moindre
envergure permettra à Shell d'être davantage présent dans le secteur en
plein essor du gaz naturel liquéfié et les actifs en eaux profondes au
large du Brésil. Les investisseurs s'intéresseront plus particulièrement
aux indications relatives aux synergies promises.

79 de 245 - 04/5/2016 10:37
The Grumpy Old Men Messages postés: 1134 - Membre depuis: 02/1/2007

Shell 'A' (NYSE:RDSA)
Graphique Intraday de l'Action

Aujourd'hui : Mercredi 4 Mai 2016

Plus de graphiques de la Bourse Shell

Royal Dutch Shell (RDSA.LN) a annoncé mercredi qu'il continuait de
réduire ses coûts et ses investissements, alors que le géant pétrolier
anglo-néerlandais intègre la récente acquisition de BG Group, d'un
montant d'environ 50 milliards de dollars, dans un contexte de chute
historique des cours du pétrole.



Lors de la publication
de ses premiers résultats trimestriels depuis l'acquisition en début
d'année de BG, Shell a fait état d'un fort recul de son bénéfice mais le
groupe a souligné que la baisse des coûts lui avait permis de compenser
l'impact de l'affaiblissement des cours du pétrole et du gaz ainsi que
l'augmentation des charges d'exploitation liées à BG.




Shell a déclaré qu'il prévoyait d'investir 30 milliards de dollars cette
année dans l'exploration et le développement de projets pétroliers et
gaziers, soit 3 milliards de dollars de moins que sa précédente
prévision.



L'intégration de BG a contribué à la hausse
de 16% des volumes de production du groupe au premier trimestre, à 3,7
millions de barils d'équivalent pétrole par jour.



Le
bénéfice trimestriel hors coûts de remplacement des stocks s'est établi à
800 millions de dollars, une chute de 83% par rapport au résultat du
premier trimestre 2015. Le bénéfice ajusté, qui exclut les éléments
exceptionnels comme les plus-values de cessions, s'est replié à 1,6
milliard de dollars, contre 3,7 milliards de dollars, mais il a
néanmoins dépassé les attentes des analystes.



A 9h33, le titre cédait 0,3%, à 1.756 pence.





-Sarah Kent, Dow Jones Newswires



(Version française Aurélie Henri) ed: VLV - ECH





(END) Dow Jones Newswires



May 04, 2016 03:39 ET (07:39 GMT)

80 de 245 - 04/5/2016 13:43
Ariane Messages postés: 1317 - Membre depuis: 29/9/2002

Shell : bénéfice net divisé par dix au 1er trimestre.




share with twitter




share with LinkedIn


http://www.zonebourse.com/ROYAL-DUTCH-SHELL-A-6273/actualite/Shell-benefice-net-divise-par-dix-au-1er-trimestre-22292755/" target="popup">
share with facebook




share via e-mail







0





0



04/05/2016 | 11:21

Royal Dutch Shell cède
1% à Amsterdam après la publication d'un bénéfice net part du groupe
divisé par dix à 484 millions de dollars au premier trimestre 2016, par
rapport à la même période l'année dernière.

A coûts
d'approvisionnement constant (CCS) et hors éléments exceptionnels, la
compagnie pétro-gazière anglo-néerlandaise a vu son bénéfice net chuter
de 58% à 1,55 milliard de dollars, soit 22 cents par action.

Cette
chute en comparaison annuelle traduit essentiellement un creusement de
la perte des activités amont (exploration et production), à -1,44
milliard, liée au déclin des cours alors que la production s'est accrue à
2,828 millions de barils équivalent pétrole par jour.

Shell
indique toutefois avoir bénéficié dans cette branche d'une réduction de
ses dépenses opérationnelles, les mesures prises pour réduire ses coûts
ayant compensé l'augmentation de dépenses liée à la consolidation de BG
Group.

La contribution des activités aval (raffinage et
commercialisation) a quant à elle baissé d'un quart à deux milliards de
dollars, à cause de conditions de raffinage plus difficiles dans le
secteur et malgré une performance sous-jacente plus forte en
commercialisation.

245 Réponses
   4   ... 
Messages à suivre: (245)
Dernier Message: 05/Mai/2022 07h24

Titres Discutés
EU:RDSB 22.75 0.0%
Indices Mondiaux
Australia 0.8%
Brazil 0.4%
Canada 0.4%
France 0.0%
Germany 0.1%
Greece 0.4%
Holland 0.3%
Italy 0.0%
Portugal 0.1%
US (DowJones) 0.1%
US (NASDAQ) -0.1%
United Kingdom 0.3%
Palmarès Hausse (%)
EU:OXUR 0.00 100.0%
EU:MLSTR 14.00 75.0%
EU:VACBT 0.30 50.0%
EU:CHSR 9.70 42.6%
EU:MLFTI 0.05 38.9%
EU:NXFIL 4.29 28.1%
EU:RAL 0.09 25.7%
EU:ALBOO 0.00 25.0%
EU:ALFLO 3.88 21.3%
EU:BUI 8.70 20.8%