Shell And PetroChina To Develop Phase 2 Of Surat Gas Project: Details
Portfolio Pulse from Lekha Gupta
Shell plc (NYSE:SHEL) and PetroChina's joint venture, Arrow Energy, will develop Phase 2 of the Surat Gas Project in Queensland, Australia. The project aims to add 22,400 barrels of oil equivalent per day at peak production by 2026. Shell's QCLNG facility will receive the gas to meet long-term contracts and domestic demand. Shell stock has gained around 16% in the last 12 months, and investors can gain exposure via Direxion Hydrogen ETF (NYSE:HJEN) and VanEck Natural Resources ETF (NYSE:HAP).
August 12, 2024 | 9:51 am
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NEUTRAL IMPACT
Shell and BP units in South Africa are expected to pay about $15 million to the state-run Central Energy Fund for operational costs at the Sapref refinery, which they are selling to the government.
The payment for operational costs at the Sapref refinery is a minor financial event and is unlikely to have a significant impact on BP's stock price in the short term.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to Shell stock via VanEck Natural Resources ETF (NYSE:HAP), which includes Shell among its holdings.
As Shell's stock is expected to benefit from the Surat Gas Project development, ETFs holding Shell, like HAP, may also see a positive impact.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 30
POSITIVE IMPACT
Investors can gain exposure to Shell stock via Direxion Hydrogen ETF (NYSE:HJEN), which has Shell as one of its holdings.
As Shell's stock is expected to benefit from the Surat Gas Project development, ETFs holding Shell, like HJEN, may also see a positive impact.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 30
POSITIVE IMPACT
Shell plc (NYSE:SHEL) and PetroChina's joint venture, Arrow Energy, will develop Phase 2 of the Surat Gas Project, expected to add 22,400 barrels of oil equivalent per day by 2026. This development will support Shell's QCLNG facility and meet long-term contracts and domestic demand.
The development of Phase 2 of the Surat Gas Project is a significant investment that will boost Shell's production capacity and support its long-term contracts and domestic demand. This is likely to positively impact Shell's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100