We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Shell (RDS.A) to Divest 26.25% Interest in QCLNG for $2.5B
Read MoreHide Full Article
Royal Dutch Shell Plc. has announced that its fully-owned subsidiary QGC Common Facilities Company Pty Ltd decided to divest a 26.25% stake in its Queensland Curtis LNG (QCLNG) facilities to Global Infrastructure Partners Australia– a leading global infrastructure investment fund. The deal worth $2.5 billion is in sync with the company’s strategy to divest its non-core assets with the aim of further enhancing and streamlining its portfolio.
Shell intends to earn around $4 billion a year by selling its non-core assets. Its minority interest sale in Queensland Curtis LNG will enable it to achieve its target set for this year following the divestment of its Martinez refinery and Appalachia shale gas assets.
Further, the Queensland Curtis LNG sell-off will add to Shell’s anticipated divestment-generated funds minus any effect on the company's workforce or the activities of its QCLNG venture. The divestiture will align Shell’s share in the QGC Common Facilities with its 73.75% interest in the entire QCLNG project.
The transaction is estimated to close by the first half of next year. It is contingent on customary conditions and regulatory consents in Australia. Upon completion of the sale, Shell will remain the majority owner and operator of the Common Facilities alongside CNOOC Limited (CEO - Free Report) (50% equity in Train 1) and Tokyo Gas (2.5% equity in Train 2).
Company Profile
Shell is one of the primary oil majors — a group of U.S. and Europe-based big energy multinationals — with global operations. The company is fully integrated as it participates in every energy-related aspect, right from oil production to refining and marketing.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
Image: Bigstock
Shell (RDS.A) to Divest 26.25% Interest in QCLNG for $2.5B
Royal Dutch Shell Plc. has announced that its fully-owned subsidiary QGC Common Facilities Company Pty Ltd decided to divest a 26.25% stake in its Queensland Curtis LNG (QCLNG) facilities to Global Infrastructure Partners Australia– a leading global infrastructure investment fund. The deal worth $2.5 billion is in sync with the company’s strategy to divest its non-core assets with the aim of further enhancing and streamlining its portfolio.
Shell intends to earn around $4 billion a year by selling its non-core assets. Its minority interest sale in Queensland Curtis LNG will enable it to achieve its target set for this year following the divestment of its Martinez refinery and Appalachia shale gas assets.
Further, the Queensland Curtis LNG sell-off will add to Shell’s anticipated divestment-generated funds minus any effect on the company's workforce or the activities of its QCLNG venture. The divestiture will align Shell’s share in the QGC Common Facilities with its 73.75% interest in the entire QCLNG project.
The transaction is estimated to close by the first half of next year. It is contingent on customary conditions and regulatory consents in Australia. Upon completion of the sale, Shell will remain the majority owner and operator of the Common Facilities alongside CNOOC Limited (CEO - Free Report) (50% equity in Train 1) and Tokyo Gas (2.5% equity in Train 2).
Company Profile
Shell is one of the primary oil majors — a group of U.S. and Europe-based big energy multinationals — with global operations. The company is fully integrated as it participates in every energy-related aspect, right from oil production to refining and marketing.
Zacks Rank & Key Picks
Shell currently has a Zacks Rank #4 (Sell).
Some better-ranked players in the energy space are Hess Midstream Partners LP (HESM - Free Report) and China Petroleum & Chemical Corporation , each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>