Shell plc’s (SHEL - Free Report) 35% stake in the Masela gas project in Maluku region is anticipated to be acquired by Pertamina, an Indonesia state-owned energy company, by the end of the month, per media reports.
Masela, popularly known as the Abadi LNG project, is presently operated by the Japanese energy company Inpex that holds a 65% interest.
The development followed a report that the Indonesia government told Shell that its interest in the Masela project would be reclaimed if it failed to sell it by the next year. The company has been attempting to sell its stake in the project since 2019.
SHEL has received many requests from representatives of the Indonesia government to complete the sale of its share. In order to execute the selling process, a consortium was formed with Petronas — the Malaysian state-owned oil and gas company.
The Abadi LNG project, with an annual production capacity of 9.5 million tons, is expected to enhance energy security in Indonesia, Japan and other Asian countries. Indonesia expects to hasten the project's construction activities in order to increase local natural gas output.
Zacks Rank & Key Picks
Currently, Shell carries a Zack Rank #3 (Hold).
Some better-ranked stocks for investors interested in the energy sector are Sunoco LP (SUN - Free Report) , Murphy USA Inc. (MUSA - Free Report) and RGC Resources Inc. (RGCO - Free Report) . While both Sunoco and Murphy USA sport a Zacks Rank #1 (Strong Buy), RGC Resources carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Sunoco, a distributor of motor fuel to approximately 10,000 convenience stores, has a stable business model with sustainable and predictable cash flow. For this year, SUN has witnessed an upward earnings estimate revision in the past 30 days.
Murphy USA, a leading retailer of gasoline, operates stations close to Walmart supercenters and sells low-cost, high-volume fuel. MUSA, with more than 1,700 stores, has witnessed an upward earnings estimate revision for 2023 and 2024, in the past 30 days.
RGC Resources is a holding company that offers energy and associated products and services through its operational subsidiaries —Roanoke Gas Company and RGC Midstream, LLC. RGCO has thousands of customers through its natural gas distribution companies that serve the Roanoke Valley and Bluefield, Virginia and West Virginia areas. For this year, the company has witnessed an upward earnings estimate revision in the past 30 days.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
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Shell plc’s (SHEL - Free Report) 35% stake in the Masela gas project in Maluku region is anticipated to be acquired by Pertamina, an Indonesia state-owned energy company, by the end of the month, per media reports.
Masela, popularly known as the Abadi LNG project, is presently operated by the Japanese energy company Inpex that holds a 65% interest.
The development followed a report that the Indonesia government told Shell that its interest in the Masela project would be reclaimed if it failed to sell it by the next year. The company has been attempting to sell its stake in the project since 2019.
SHEL has received many requests from representatives of the Indonesia government to complete the sale of its share. In order to execute the selling process, a consortium was formed with Petronas — the Malaysian state-owned oil and gas company.
The Abadi LNG project, with an annual production capacity of 9.5 million tons, is expected to enhance energy security in Indonesia, Japan and other Asian countries. Indonesia expects to hasten the project's construction activities in order to increase local natural gas output.
Zacks Rank & Key Picks
Currently, Shell carries a Zack Rank #3 (Hold).
Some better-ranked stocks for investors interested in the energy sector are Sunoco LP (SUN - Free Report) , Murphy USA Inc. (MUSA - Free Report) and RGC Resources Inc. (RGCO - Free Report) . While both Sunoco and Murphy USA sport a Zacks Rank #1 (Strong Buy), RGC Resources carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Sunoco, a distributor of motor fuel to approximately 10,000 convenience stores, has a stable business model with sustainable and predictable cash flow. For this year, SUN has witnessed an upward earnings estimate revision in the past 30 days.
Murphy USA, a leading retailer of gasoline, operates stations close to Walmart supercenters and sells low-cost, high-volume fuel. MUSA, with more than 1,700 stores, has witnessed an upward earnings estimate revision for 2023 and 2024, in the past 30 days.
RGC Resources is a holding company that offers energy and associated products and services through its operational subsidiaries —Roanoke Gas Company and RGC Midstream, LLC. RGCO has thousands of customers through its natural gas distribution companies that serve the Roanoke Valley and Bluefield, Virginia and West Virginia areas. For this year, the company has witnessed an upward earnings estimate revision in the past 30 days.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
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