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 (SHEL) and Petrobras Join Forces for Energy Transition
Read MoreHide Full Article
Shell plc (SHEL - Free Report) , the U.K.-based energy giant, and Petrobras (PBR - Free Report) , Brazil's state-owned oil and gas company, have come together in an effort to explore new upstream and energy transition options, per the Memorandum of Agreement (MOU) recently signed by the two companies.
In accordance with the MOU, the companies will concentrate on oil and gas exploration potential within and outside the pre-salt region, including the Equatorial Margin. Additionally, Shell and Petrobras will exchange best practices and experiences in socio-environmental projects and other efforts to reduce carbon emissions. The five-year agreement will also encompass renewable energy and carbon capture, utilization, and storage (CCUS). There are also plans to provide credits to offset carbon emissions in order to protect and restore biodiversity.
The CEO of Petrobras, Jean Paul Prates, said that having partners like Shell to rely on is essential to the company’s future prospects. This is because Shell can bring its strength to areas where Petrobras is seeking for profitable diversification, like renewables and hydrogen.
According to the Brazilian giant's declaration, committees with members from both the companies will be built to track the development of numerous studies and discussions. Per the company, projects resulting from the agreement will have official estimates of cost and return, post the completion of technical evaluations by a multidisciplinary team.
Some better-ranked stocks for investors interested in the energy sector are CVR Energy (CVI - Free Report) and Valero Energy Corporation (VLO - Free Report) , both sporting a Zacks Rank #1.
CVR Energy, a diversified holding company with its main office in Sugar Land, TX, is an independent refiner and marketer of high value transportation fuels. Over the past seven days, CVI has seen an upward revision in earnings estimates for 2023 and 2024.
Valero Energy, a TX-based company, is one of the largest independent refiners and marketers of petroleum products in the U.S. With 15 refineries spread across Canada, the United States and the United Kingdom, it has a daily refining capacity of 3.1 million barrels. Over the past 30 days, VLO has seen an upward revision in earnings estimates for 2023 and 2024.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Shell (SHEL) and Petrobras Join Forces for Energy Transition
Shell plc (SHEL - Free Report) , the U.K.-based energy giant, and Petrobras (PBR - Free Report) , Brazil's state-owned oil and gas company, have come together in an effort to explore new upstream and energy transition options, per the Memorandum of Agreement (MOU) recently signed by the two companies.
In accordance with the MOU, the companies will concentrate on oil and gas exploration potential within and outside the pre-salt region, including the Equatorial Margin. Additionally, Shell and Petrobras will exchange best practices and experiences in socio-environmental projects and other efforts to reduce carbon emissions. The five-year agreement will also encompass renewable energy and carbon capture, utilization, and storage (CCUS). There are also plans to provide credits to offset carbon emissions in order to protect and restore biodiversity.
The CEO of Petrobras, Jean Paul Prates, said that having partners like Shell to rely on is essential to the company’s future prospects. This is because Shell can bring its strength to areas where Petrobras is seeking for profitable diversification, like renewables and hydrogen.
According to the Brazilian giant's declaration, committees with members from both the companies will be built to track the development of numerous studies and discussions. Per the company, projects resulting from the agreement will have official estimates of cost and return, post the completion of technical evaluations by a multidisciplinary team.
Zacks Rank & Key Picks
Currently, Shell carries a Zack Rank #3 (Hold). You can see the complete list of today’s Zacks #1Rank (Strong Buy) stocks here.
Some better-ranked stocks for investors interested in the energy sector are CVR Energy (CVI - Free Report) and Valero Energy Corporation (VLO - Free Report) , both sporting a Zacks Rank #1.
CVR Energy, a diversified holding company with its main office in Sugar Land, TX, is an independent refiner and marketer of high value transportation fuels. Over the past seven days, CVI has seen an upward revision in earnings estimates for 2023 and 2024.
Valero Energy, a TX-based company, is one of the largest independent refiners and marketers of petroleum products in the U.S. With 15 refineries spread across Canada, the United States and the United Kingdom, it has a daily refining capacity of 3.1 million barrels. Over the past 30 days, VLO has seen an upward revision in earnings estimates for 2023 and 2024.