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Shell Russia sells over 400 petrol stations to oil rival

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2 years ago

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Energy giant Shell has agreed to sell more than 400 of its petrol stations in Russia

The lucky buyer of the stations is the country’s second largest oil producer, Lukoil

Shell in Russia will be sold for an undisclosed sum.

Many Western oil and gas firms have been looking to offload their Russian businesses following the country’s invasion of Ukraine.

Shell says be selling 411 petrol stations, it will protect 350 jobs

This comes as no surprise, as back in February, shell said it would sell its Russian assets because of the invasion of Ukraine.

Energy firms continue to benefit from surging oil and gas prices.

In the first three months of this year, Shell made just over $9 billion – nearly triple its $3 billion profit it announced for the same period last year.

But the firm said pulling out of Russian deals, had cost it almost $4 billion.

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ASX positioned for strong start after positive stock rebound

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1 day ago

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September 10, 2024

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The ASX is set for a solid opening today, bolstered by overnight gains in the banking, commodities, and energy sectors.

Despite these positive movements, analysts are suggesting that the stock rebound and bond decline appear to be technically driven, noting that it may not mark the beginning of a longer-term trend.

Market analyst David Scutt from StoneX joins to discuss the latest market movements. #featured #trending

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Elon Musk is projected to become the world’s first trillionaire

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2 days ago

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September 9, 2024

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Elon Musk, the visionary entrepreneur behind Tesla and SpaceX, is projected to achieve an unprecedented financial milestone by becoming the world’s first trillionaire by 2027.

Currently the richest person alive, Musk holds a staggering net worth of $251 billion, with Tesla playing a major role in his fortune.

At this rate, experts predict his wealth could skyrocket, reaching the trillion-dollar milestone in just three years.

Tesla itself is growing at a remarkable pace, with a market value nearing $670 billion. #featured #trending

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Treasury Secretary believes the U.S. are on track for a “safe landing”

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2 days ago

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September 9, 2024

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Treasury Secretary Janet Yellen pointed to a “soft landing” for the economy, with unemployment slightly down despite slower job creation.

In a recent interview on Bloomberg, Yellen stated that “For the US, the kinds of metrics that we would monitor that would summarise risks — whether it’s asset valuations or a good degree of leverage — things look good, I don’t see red lights flashing”. #featured #trending

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