Shell Plc: Pertamina and Petronas Plan Joint Takeover of Shell’s Participating Interest in Masela Gas Project

Shell PLC ADR Stock Forecast:

According to the analysis of 13 analysts, the average target price for Shell PLC ADR stock over the next 12 months is USD 71.67. The average analyst rating for the stock is Strong Buy. However, Stock Target Advisor‘s analysis suggests a Slightly Bearish outlook, considering 5 positive signals and 7 negative signals. At the last closing, the stock price of Shell PLC ADR was USD 60.20. Over the past week, the stock price has decreased by -0.25%, while it has increased by +2.42% over the past month and +18.25% over the last year.

Shell Plc. News:

In a significant development for Indonesia’s energy sector, state energy companies Pertamina and Petronas are reportedly in negotiations to jointly acquire Shell’s participating interest in the Masela gas project. The Indonesian energy minister, Arifin Tasrif, confirmed the ongoing discussions, expressing optimism that the deal would facilitate the advancement of the project, which has faced numerous delays.

Shell has been actively seeking to divest its 35% stake in the Masela gas project, located in Indonesia’s eastern province of Maluku. The project, estimated to hold significant reserves of natural gas, has been in the works for years, with multiple hurdles impeding its progress. Indonesian authorities are keen to see the project move forward, and the involvement of Pertamina and Petronas in the negotiations is viewed as a positive step toward its realization.

Energy Minister Arifin Tasrif revealed to Reuters that both Pertamina and Petronas are engaged in discussions regarding the acquisition of Shell’s participating interest in Masela. The involvement of two prominent state energy companies demonstrates the strategic importance of the project and the desire to expedite its development.

While Pertamina, Indonesia’s national oil company, has a strong presence in the domestic energy sector, Petronas, Malaysia’s state-owned oil and gas company, is renowned for its global reach. Petronas’ interest in the Masela project aligns with its ongoing efforts to secure new opportunities and ensure resilience in the evolving energy landscape. However, the company did not provide specific comments regarding the Masela project.

 

Top Trending Stocks

AVG Analyst Rating STA Analysis
StockTargetAdvisor
Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Bullish
N/A
StockTargetAdvisor
Neutral
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Hold
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Buy
StockTargetAdvisor
Slightly Bullish
Ad
Ad

Leave a Reply

Your email address will not be published. Required fields are marked *