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Shell (SHEL) & QatarEnergy Ink a Major Five-Year Crude Oil Pact
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Shell plc (SHEL - Free Report) entered into a significant five-year crude oil supply agreement with QatarEnergy, the state-owned oil and gas company. Under the agreement, Qatar is set to provide Shell with up to 18 million barrels of oil annually, marking a milestone for the Gulf state's energy industry.
This long-term deal, regarded as QatarEnergy's first-ever five-year crude sales agreement, was announced after negotiations with Shell International Eastern Trading Company. The agreement encompasses the supply of both Qatar Land and Qatar Marine crude oils. The commencement of the supply is scheduled for January, setting the stage for a long-term partnership between the two energy giants.
Saad Sherida Al-Kaabi, QatarEnergy's chief executive officer, conveyed his excitement about the deal, stating that the collaboration not only represents a strategic partnership between the two entities but also emphasizes the stability and reliability of Qatar as a pivotal player in the global energy market.
The agreement aligns with QatarEnergy's broader strategy of establishing enduring strategic business relationships and fostering cooperation within the energy industry. By securing a long-term commitment from Shell, QatarEnergy aims to enhance stability and reliability in its crude oil supply chain.
The enduring partnership between QatarEnergy and Shell extends beyond this latest agreement, with a history of collaboration in various energy ventures both in Qatar and abroad.
The Williams Companies is well-positioned to capitalize on the anticipated substantial long-term growth in U.S. natural gas demand, thanks to its impressive portfolio of large-scale projects that create significant value. The company’s debt maturity profile is in good shape with its $4.5-billion revolver maturing in fiscal 2023.
WMB’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 13.68%.
Sunoco is among the biggest motor fuel distributors in the U.S. wholesale market in terms of volumes. By distributing more than 10 fuel brands via 10,000 convenience stores under long-term distribution contracts, the partnership will continue to generate stable cash flow.
SUN’s earnings beat estimates in two of the trailing four quarters and missed twice, delivering an average surprise of 28.33%.
Murphy USA is a low-cost, high-volume fuel seller, whose stations are located near Walmart supercenters. This enables the company to attract significantly more transactions than its peers. MUSA’s sourcing infrastructure is another key competitive advantage.
The company’s earnings beat estimates in two of the trailing four quarters and missed twice, delivering an average surprise of 7.04%.
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Shell (SHEL) & QatarEnergy Ink a Major Five-Year Crude Oil Pact
Shell plc (SHEL - Free Report) entered into a significant five-year crude oil supply agreement with QatarEnergy, the state-owned oil and gas company. Under the agreement, Qatar is set to provide Shell with up to 18 million barrels of oil annually, marking a milestone for the Gulf state's energy industry.
This long-term deal, regarded as QatarEnergy's first-ever five-year crude sales agreement, was announced after negotiations with Shell International Eastern Trading Company. The agreement encompasses the supply of both Qatar Land and Qatar Marine crude oils. The commencement of the supply is scheduled for January, setting the stage for a long-term partnership between the two energy giants.
Saad Sherida Al-Kaabi, QatarEnergy's chief executive officer, conveyed his excitement about the deal, stating that the collaboration not only represents a strategic partnership between the two entities but also emphasizes the stability and reliability of Qatar as a pivotal player in the global energy market.
The agreement aligns with QatarEnergy's broader strategy of establishing enduring strategic business relationships and fostering cooperation within the energy industry. By securing a long-term commitment from Shell, QatarEnergy aims to enhance stability and reliability in its crude oil supply chain.
The enduring partnership between QatarEnergy and Shell extends beyond this latest agreement, with a history of collaboration in various energy ventures both in Qatar and abroad.
Zacks Rank & Key Picks
Shell currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the energy sector are The Williams Companies, Inc. (WMB - Free Report) , Sunoco LP (SUN - Free Report) and Murphy USA, Inc. (MUSA - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Williams Companies is well-positioned to capitalize on the anticipated substantial long-term growth in U.S. natural gas demand, thanks to its impressive portfolio of large-scale projects that create significant value. The company’s debt maturity profile is in good shape with its $4.5-billion revolver maturing in fiscal 2023.
WMB’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 13.68%.
Sunoco is among the biggest motor fuel distributors in the U.S. wholesale market in terms of volumes. By distributing more than 10 fuel brands via 10,000 convenience stores under long-term distribution contracts, the partnership will continue to generate stable cash flow.
SUN’s earnings beat estimates in two of the trailing four quarters and missed twice, delivering an average surprise of 28.33%.
Murphy USA is a low-cost, high-volume fuel seller, whose stations are located near Walmart supercenters. This enables the company to attract significantly more transactions than its peers. MUSA’s sourcing infrastructure is another key competitive advantage.
The company’s earnings beat estimates in two of the trailing four quarters and missed twice, delivering an average surprise of 7.04%.