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) Signs MoU to Develop Hydrogen Facility in Norway
Read MoreHide Full Article
Royal Dutch Shell plc signed a memorandum of understanding (MoU) with Aker Clean Hydrogen and CapeOmega to explore the development of a large-scale hydrogen facility at Aukra on the west coast of Norway.
The proposed hydrogen facility will produce blue hydrogen from natural gas, while reducing greenhouse gas emissions. The natural gas will be supplied from Shell’s Nyhamna gas processing terminal in Aukra, which receives gas from its Ormen Lange gas-condensate field in the Norwegian Sea.
The facility will use the steam methane reforming method to break natural gas into hydrogen and carbon dioxide, the latter of which will be captured and stored permanently. Notably, hydrogen is considered clean when produced from natural gas.
Aker Clean Hydrogen and the municipality of Aukra have been seeking opportunities to develop a hydrogen-production facility in western Norway. Earlier this year, Aker Clean Hydrogen obtained exclusive rights for the clean hydrogen project to explore and develop a facility for the production of hydrogen, ammonia and related products in Aukra.
Countries across Europe are exploring ways to produce emission-free hydrogen to reduce emissions and avoid the consequences of climate change. Hence, Shell joined the clean hydrogen project, which intends to produce hydrogen by drawing natural gas from the gas processing terminal at Nyhamna.
The facility is expected to become a major supplier of alternative fuels for the shipping industry. Clean hydrogen can help decarbonize local industries, and be used as a sustainable fuel for ships and vehicles or be exported to Europe.
Above all, the project fits well with the Norway government’s strategy to develop hydrogen and create long-term value from the country’s energy resources. Shell aims to become a net-zero emission business by 2050. Its uniting efforts with the Norway-based firms to work on the exciting opportunity are helping it achieve its net-zero target.
Company Profile & Price Performance
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 aspect related to energy from oil production to refining and marketing.
Shares of the company have underperformed the industry in the past six months. Its stock has declined 5.9% against the industry’s 5.1% growth.
Image Source: Zacks Investment Research
Zacks Rank & Stock to Consider
The company currently carries a Zack Rank #3 (Hold).
Image: Bigstock
Shell (RDS.A) Signs MoU to Develop Hydrogen Facility in Norway
Royal Dutch Shell plc signed a memorandum of understanding (MoU) with Aker Clean Hydrogen and CapeOmega to explore the development of a large-scale hydrogen facility at Aukra on the west coast of Norway.
The proposed hydrogen facility will produce blue hydrogen from natural gas, while reducing greenhouse gas emissions. The natural gas will be supplied from Shell’s Nyhamna gas processing terminal in Aukra, which receives gas from its Ormen Lange gas-condensate field in the Norwegian Sea.
The facility will use the steam methane reforming method to break natural gas into hydrogen and carbon dioxide, the latter of which will be captured and stored permanently. Notably, hydrogen is considered clean when produced from natural gas.
Aker Clean Hydrogen and the municipality of Aukra have been seeking opportunities to develop a hydrogen-production facility in western Norway. Earlier this year, Aker Clean Hydrogen obtained exclusive rights for the clean hydrogen project to explore and develop a facility for the production of hydrogen, ammonia and related products in Aukra.
Countries across Europe are exploring ways to produce emission-free hydrogen to reduce emissions and avoid the consequences of climate change. Hence, Shell joined the clean hydrogen project, which intends to produce hydrogen by drawing natural gas from the gas processing terminal at Nyhamna.
The facility is expected to become a major supplier of alternative fuels for the shipping industry. Clean hydrogen can help decarbonize local industries, and be used as a sustainable fuel for ships and vehicles or be exported to Europe.
Above all, the project fits well with the Norway government’s strategy to develop hydrogen and create long-term value from the country’s energy resources. Shell aims to become a net-zero emission business by 2050. Its uniting efforts with the Norway-based firms to work on the exciting opportunity are helping it achieve its net-zero target.
Company Profile & Price Performance
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 aspect related to energy from oil production to refining and marketing.
Shares of the company have underperformed the industry in the past six months. Its stock has declined 5.9% against the industry’s 5.1% growth.
Image Source: Zacks Investment Research
Zacks Rank & Stock to Consider
The company currently carries a Zack Rank #3 (Hold).
Some better-ranked players in the energy space are Baker Hughes Company (BKR - Free Report) , Repsol SA (REPYY - Free Report) and EOG Resources, Inc. (EOG - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Baker Hughes’ earnings for 2021 are expected to rise 54.3% year over year.
Repsol’s earnings for 2021 are expected to grow 10.6% year over year.
EOG Resources’ earnings for 2021 are expected to increase 9.9% year over year.