Shell Divests 27% Non-Working Interest in North Cleopatra Block

Core Insights - Shell plc has signed an agreement with QatarEnergy to sell a 27% non-working interest in the North Cleopatra block in Egypt, retaining a 36% participating interest and operatorship of the block [1][7] - The North Cleopatra block covers over 3,400 square kilometers in the Herodotus basin, with water depths of nearly 8,530 feet [2][7] - QatarEnergy is expanding its global presence by acquiring stakes in oil and gas blocks in various countries, including Egypt [2] Company Analysis - Shell plc (SHEL) currently holds a Zacks Rank of 3 (Hold) [3] - Cheniere Energy Inc. (LNG) has a Zacks Rank of 1 (Strong Buy), while Oceaneering International (OII) and Galp Energia SGPS SA (GLPEY) both hold a Zacks Rank of 2 (Buy) [3] - Cheniere Energy is expanding its LNG production capacity with the Corpus Christi Stage 3 Liquefaction Project, which includes seven midscale LNG trains [4] - Oceaneering International provides integrated technology solutions for the offshore oilfield lifecycle, supporting client retention and revenue growth [5] - Galp Energia's exploration in the Orange Basin has led to the Mopane discovery, estimated to hold nearly 10 billion barrels of oil, enhancing its potential as a significant oil producer [6]