LONDON, UK / ACCESSWIRE / October 6, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Royal Dutch Shell PLC (NYSE: RDS-A), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=RDS-A. The Company announced on October 04, 2017, that its subsidiary, BG Asia Pacific Holdings Ltd, and KUFPEC Thailand Holdings Pte Ltd, a subsidiary of Kuwait Foreign Petroleum Exploration Co., have mutually agreed upon the cancellation of the Sale & Purchase agreement for the share sale of Shell Integrated Gas Thailand Pte. Ltd (“SIGT”) and Thai Energy Co. Ltd. (“TEC”). For immediate access to our complimentary reports, including today’s coverage, register for free now at:
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SIGT and TEC currently hold a 22.222% equity stake in the Bongkot field and relating offshore acreage in Thailand, consisting of blocks 15, 16, 17, and block G12/48. The Company’s partners in the Bongkot assets are operators of the field where PTT Exploration & Production (“PTTEP”) holds 44.445% equity while Total holds 33.333% equity. Both SIGT and TEC have agreed to continue supporting PTTEP in the safe and efficient operation and further development of Bongkot. SIGT also plans to participate in the licensing round for the extension of the Bongkot concession.
The Company’s divestment program have made good developments on both raising cash and re-shaping the Company. To date, Royal Dutch Shell announced that it has more than $25 billion in completed, announced, or in-progress divestments, hence placing the Company on its target of $30 billion of divestments between 2016 and 2018.
The Technical Cooperation Agreement
On September 11, 2017, Royal Dutch Shell and Petrobras signed a memorandum of understanding (MoU) to establish a long-term mutual collaboration in developing pre-salt fields in Brazil. Under the agreement, Royal Dutch Shell is set to benefit from technical solutions, contract management expertise, and cost-effective initiatives that Petrobras implements in pre- and post-salt projects. Royal Dutch Shell had agreed to share with Petrobras its global deepwater experience, primarily on the cost efficiency efforts and the use of technology.
The MoU also involved sharing best practices and learnings on safety and governance management, technical and operational solutions, contract management, logistics, wells construction, and air transportation safety. The agreement, from the date of signing, would be valid for five years and can be renewed. Royal Dutch Shell is currently the strategic partner of Petrobras in the pre-salt, with minority interests in the Libra and Lula fields and other important areas, including Sapinhoa, Lapa, and Lara, all of them located in the Santos basin.
Company Growth Prospects
Royal Dutch Shell has aimed to divest and unify its business since last year when it executed a merger with British energy Company, BG Group. The Company’s net profit for Q2 2017 was $3.6 billion, up from $1 billion observed in Q2 2016. In July 2017, the Company stated that the $1.23 billion gained from spare parts of the Irish energy sector places it past the halfway point for the total divestment goals. In March 2017, the Company received $587 million for the sale of its assets to Gabon, where in May, it received $250 million for the sale of its aviation subsidiary.
Last Close Stock Review
At the closing bell, on Thursday, October 05, 2017, Royal Dutch Shell’s stock slightly climbed 0.21%, ending the trading session at $61.03. A total volume of 3.73 million shares have exchanged hands, which was higher than the 3-month average volume of 3.27 million shares. The Company’s stock price rallied 15.28% in the last three months, 14.93% in the past six months, and 18.48% in the previous twelve months. Moreover, the stock surged 12.23% since the start of the year. The stock is trading at a PE ratio of 31.31 and has a dividend yield of 6.16%. The stock currently has a market cap of $253.13 billion.
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