Discount retailer B&M on Tuesday forecast a 28% plunge in first-half core earnings and lower annual profit, and said it would take actions including price adjustments to return its UK sales to growth. ...

Group 1 - The core outlook for Shell's third quarter includes an expected liquefied natural gas production of 7 to 7.4 million tons [1] - The upstream business production is projected to be between 1.79 million to 1.89 million barrels of oil equivalent per day [1] - The integrated gas business production is anticipated to be between 910,000 to 950,000 barrels of oil equivalent per day [1] - The refining margin for the chemicals and products business is indicated to be $11.6 per barrel [1]

Core Insights - The company provides an updated outlook for Q3 2025, with results to be finalized and published on October 30, 2025 [1] Integrated Gas - Production is expected to be between 910 and 950 kboe/d, slightly lower than Q2 2025's 913 kboe/d [2] - LNG liquefaction volumes are projected to increase to between 7.0 and 7.4 million tonnes from 6.7 million tonnes in Q2 2025 [2] - Underlying operating expenses (opex) are expected to remain stable at 1.0 to 1.2 billion [2] - Pre-tax depreciation is forecasted to be between 1.4 and 1.8 billion, down from 1.6 billion in Q2 2025 [2] - Taxation charge is anticipated to be between 0.4 and 0.7 billion, a decrease from 0.5 billion in Q2 2025 [2] Upstream - Production is expected to rise to between 1,790 and 1,890 kboe/d, up from 1,732 kboe/d in Q2 2025 [4] - Underlying opex is projected to be between 1.9 and 2.5 billion, slightly lower than Q2 2025's 2.0 billion [4] - Pre-tax depreciation is expected to be between 2.3 and 2.9 billion, down from 2.4 billion in Q2 2025 [4] - Taxation charge is forecasted to be between 1.5 and 2.3 billion, a decrease from 2.2 billion in Q2 2025 [4] Marketing - Sales volumes are projected to be between 2,650 and 3,050 kb/d, down from 2,813 kb/d in Q2 2025 [6] - Underlying opex is expected to be between 2.4 and 2.8 billion, slightly lower than Q2 2025's 2.5 billion [6] - Pre-tax depreciation is forecasted to be between 0.5 and 0.7 billion, down from 0.6 billion in Q2 2025 [6] - Taxation charge is anticipated to be between 0.2 and 0.6 billion, a decrease from 0.4 billion in Q2 2025 [6] Chemicals and Products - Indicative refining margin is expected to increase to $11.6 per barrel from $8.9 per barrel in Q2 2025 [8] - Indicative chemicals margin is projected to decrease slightly to $160 per tonne from $166 per tonne in Q2 2025 [8] - Refinery utilization is expected to remain stable at 94% to 98% [8] - Chemicals utilization is projected to increase to between 79% and 83% from 72% in Q2 2025 [8] Shell Group Financials - Cash flow from operations (CFFO) is expected to be impacted by a tax payment decrease to between 2.1 and 2.9 billion from 3.4 billion in Q2 2025 [10] - Non-cash post-tax impairments of approximately $0.6 billion are anticipated in the Marketing segment due to the Rotterdam HEFA project cancellation [11] - An increase in gearing of 0.4% is expected in Q3 2025 related to new pension legislation in the Netherlands [11] Adjusted Earnings - Adjusted earnings for Q3 2025 are expected to reflect a loss in the Renewables and Energy Solutions segment, estimated between (0.2) and (0.4) billion [21][22] - Corporate adjusted earnings are projected to be between (0.5) and (0.3) billion, consistent with Q2 2025 [22]

Shell Plc.’s LNG Canada is currently on track to load its first liquefied natural gas cargo from the facility’s second unit as soon as this week as the project continues to ramp up in the next month, according to people familiar with the matter https://t.co/Mw2MaHjBUM ...

美股周一早盘，壳牌（SHEL）股价上涨0.9%，此前卡塔尔能源公司从该公司收购埃及近海North Cleopatra区块27%的权益。壳牌作为作业者保留36%的权益，雪佛龙和Tharwa石油公司持有剩余权益。 该区块位于希罗多德盆地，覆盖面积超过3400平方公里。 来源：环球市场播报 ...

Group 1 - QatarEnergy has signed an agreement with Shell to acquire a 27% participating interest in the North Cleopatra exploration block offshore Egypt, pending approval from the Egyptian Government [1] - Shell will retain a 36% participating interest and will operate the block, with Chevron and Tharwa Petroleum Company holding 27% and 10% stakes respectively [1] - The North Cleopatra block covers over 3,400 km² in water depths of up to 2,600 meters and is adjacent to the North El-Dabaa block, where QatarEnergy already has a 23% interest [2] Group 2 - QatarEnergy's president and CEO, Saad Sherida Al-Kaabi, expressed satisfaction in securing additional exploration acreage, enhancing their upstream exploration activities in Egypt [2][3] - QatarEnergy has been expanding its portfolio in various oil and gas basins globally, including regions such as Guyana, Lebanon, Namibia, and South Africa [3] - The collaboration between QatarEnergy and Shell includes various projects, such as LNG ventures and the Pearl GTL plant, indicating a strong partnership [4] Group 3 - In May, QatarEnergy signed a 25-year condensate supply agreement with Shell for the delivery of up to 285 million barrels of condensate [4] - Last year, a long-term agreement was established to supply three million tonnes per annum of liquefied natural gas to China, further solidifying the relationship between the two companies [5]

Group 1 - Archer Aviation Inc. was named a conviction long for Q4 by Deutsche Bank despite reporting a second-quarter loss of $0.36 per share, missing analyst estimates of a loss of $0.26 per share [1] - Archer Aviation shares increased by 13.7% to close at $11.57 [5] Group 2 - JPMorgan Chase & Co. is expected to report third-quarter earnings of $4.81 per share on revenue of $45.27 billion [2] - JPMorgan Chase shares rose by 0.8% to settle at $310.03 [5] Group 3 - Shell plc received a Hold rating from Melius Research with a price target of $70 [3] - Shell shares gained 2% to settle at $73.21 [5] Group 4 - Capital One Financial Corporation was selected as a final trade, with an Outperform rating maintained by Evercore ISI Group and a price target increase from $240 to $255 [3] - Capital One Financial shares rose by 0.3% to close at $214.40 [5]

Core Viewpoint - The Trump administration's decision to halt fully permitted offshore wind energy projects is seen as "very damaging" to investment in the energy sector, according to Shell US President Colette Hirstius [1][4]. Group 1: Impact on Offshore Wind Projects - The cancellation of $679 million in federal funding for 12 offshore wind projects by the Trump administration is a significant setback for the industry, which was a key focus of former President Joe Biden's climate and energy agendas [5]. - Hirstius emphasized that energy projects with proper permits should be allowed to continue, indicating a need for stability in the regulatory environment [2][4]. Group 2: Regulatory Environment and Future Outlook - Hirstius warned that the political pendulum in the US could swing back against the oil and gas sector, highlighting the uncertainty in the regulatory environment as a major concern for investment [2][4]. - The potential for regulatory changes could impact the development of energy projects, with Hirstius expressing a desire to see previously permitted projects continue to be developed [4].

Core Viewpoint - The Trump administration's decision to halt fully permitted offshore wind energy projects is considered "very damaging" to investment according to Shell U.S. President Colette Hirstius [1] Group 1 - The halt on offshore wind energy projects could negatively impact investment in the renewable energy sector [1] - Shell U.S. emphasizes the importance of offshore wind energy for future energy strategies [1]

Core Points - QatarEnergy has reached an agreement with Shell to acquire a 27% participating interest in an offshore block in Egypt from the oil and gas major [1] Company Summary - QatarEnergy is expanding its portfolio by acquiring a significant stake in an offshore oil and gas block in Egypt, indicating a strategic move to enhance its presence in the region [1] - Shell is divesting a portion of its interest in the offshore block, which may reflect its broader strategy in managing its asset portfolio [1] Industry Summary - The acquisition highlights ongoing investment activities in the oil and gas sector, particularly in offshore exploration and production, which remains a critical area for energy companies [1] - The deal underscores the competitive landscape in the oil and gas industry, where companies are actively seeking partnerships and acquisitions to bolster their operational capabilities and market reach [1]