Your Second Chance to Profit from AI

If you missed out on Nvidia, don't worry. A 244-year-old pattern is about to trigger a $25.6 trillion AI surge... And send three overlooked stocks soaring 1,000%+

Shell Exits Chinese Power Market, Eyes Gas Growth: Report

Shivani Kumaresan
May 01, 2024

Oil major Shell PLC (NYSE:SHEL) has reportedly decided to exit China’s power markets, aligning with CEO Wael Sawan’s focus on bolstering profitability in its natural gas and oil sectors.

Shell has withdrawn from China’s power value chain, encompassing generation, trading, and marketing, effective since the close of 2023, according to a report from Reuters. 

This move reflects a commitment to selectively invest in profitable ventures within the power sector.

The decision to exit China’s power market comes amid a broader effort to streamline operations and save up to $3 billion annually. 

The changes do not apply to Shell’s electric vehicle charging business, the report noted, citing a spokesperson.

Also ReadLegal Battle Unmasks Shell’s Under-The-Radar Oil Trading Earnings: Report

Recently, the company set a new ambition to reduce customer emissions from the use of its oil products by 15%-20% by 2030 compared with 2021 and against its previous target of 20%.

Interestingly, Shell had urged shareholders in an AGM notice to vote against an independent resolution, co-filed by a group of 27 investors, that demanded the company set tighter climate targets.

In April, Shell reportedly inked a deal with the Nigerian government to supply gas to the proposed $3.8 billion Brass menthol facility.

Shell stock has gained more than 15% in the last 12 months. Investors can gain exposure to the stock via Direxion Hydrogen ETF (NYSE:HJEN) and VanEck Natural Resources ETF (NYSE:HAP).

Price Action: SHEL shares are trading lower by 1.20% at $70.80 at the last check Wednesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Read NextNigeria Reportedly Audits Shell’s $1.3B Onshore Oilfield Sale

Photo via Wikimedia Commons

Continue Reading...

Popular
Julia Roberts And George Clooney Back Joe Biden In Presidential Race, Yet Hollywood Has Largely Hesitated On Endorsing A Candidate -- Here's Why

Julia Roberts And George Clooney Back Joe Biden In Presidential Race, Yet Hollywood Has Largely Hesitated On Endorsing A Candidate -- Here's Why

Julia Roberts and George Clooney have publicly supported President Joe Biden in the presidential race, although many in Hollywood have been hesitant to endorse anyone.

Morgan Stanley Picks This Taiwanese Chip Designer As 'Unique Nvidia Proxy'

Morgan Stanley Picks This Taiwanese Chip Designer As 'Unique Nvidia Proxy'

They anticipate Aspeed will gain additional traction in smart city and factory projects, which should positively influence the company's gross margins.

PASSIVE INCOME (by this evening) - Ad

Hey, I have an unique opportunity for those looking for additional ways to earn income right now. It can be done from home. You can do it in your spare time. And it only takes 6 clicks and as little as $50.

Donald Trump Ally Kari Lake Sparks Controversy With Speech In Front Of Confederate Flag: 'They Stole Our Government'

Donald Trump Ally Kari Lake Sparks Controversy With Speech In Front Of Confederate Flag: 'They Stole Our Government'

Republican Senate candidate Kari Lake sparks controversy by speaking in front of a Confederate flag, echoing debunked election fraud claims.

Trump's Niece Says Insane To Pardon 'Convicted Criminal Who's Trying To Destroy America': 'Absolutely Terrible Idea'

Trump's Niece Says Insane To Pardon 'Convicted Criminal Who's Trying To Destroy America': 'Absolutely Terrible Idea'

Donald Trump's niece Mary Trump recently slammed the idea of pardoning the ex-president after he was found guilty in the first of his four criminal trials.

After Conviction, There Could Be More Bad News for Trump - Ad

Former advisor to the CIA, the Pentagon and the White House Jim Rickards just dropped this Trump election bombshell. For the sake of our country...I hope he's wrong. Because if he's right, you need to prepare now.

Tesla Tequila Is Back: Here's How Much Latest Collectible Will Cost You

Tesla Tequila Is Back: Here's How Much Latest Collectible Will Cost You

Tesla has reintroduced tequila in collectible lightning-shaped bottles. Here's how you can get one and how much it will cost you.

Cybersecurity Provider CrowdStrike And These 2 Companies Make The Cut For S&P 500 Inclusion, Palantir Misses Out Yet Again

Cybersecurity Provider CrowdStrike And These 2 Companies Make The Cut For S&P 500 Inclusion, Palantir Misses Out Yet Again

Palantir was once again overlooked, while an asset manager and two tech companies were deemed worthy of being added to the prestigious index.

Elon Musk's Crazy New Experiment...REVEALED - Ad

On January 28th of 2024... Elon Musk launched a crazy AI experiment involving a real human in California. Elon already invested $100 million of his own money into this AI project... Because he knows the profits here could be ridiculous.

Nvidia's AI Muscle Propels Stock Past Apple To No. 2 Spot On SPY Holdings: What Investors Need To Know

Nvidia's AI Muscle Propels Stock Past Apple To No. 2 Spot On SPY Holdings: What Investors Need To Know

As of Tuesday's close, Nvidia's $2.864 trillion market cap trails Apple's $2.98 trillion by just $116 billion.

As the need for copper rises, cable manufacturers recycle more

As the need for copper rises, cable manufacturers recycle more

MONTREAL (AP) — In an industrial suburb of Montreal, sheets of copper move along a conveyor belt suspended four stories above the floor of a foundry — a metals plant — until they drop into a lava-hot furnace. Next come pieces of discarded copper wire.

5 Wall Street Legends Just Bought This One Stock - Ad

"If you're not at the table, you're on the menu," says former Goldman Sachs VP, Dr. David Eifrig.

Wall Street Holds Breath After Record Close For Fed Decision, CPI Data: Why This Analyst Sees Positive Inflation Trends Ahead

Wall Street Holds Breath After Record Close For Fed Decision, CPI Data: Why This Analyst Sees Positive Inflation Trends Ahead

U.S. stock futures point to a weak start on Tuesday, signaling a pause after Monday’s record run. Global cues are negative and commodity prices weakened as well.

In Wyoming, Bill Gates moves ahead with nuclear project aimed at revolutionizing power generation

In Wyoming, Bill Gates moves ahead with nuclear project aimed at revolutionizing power generation

Bill Gates and his energy company are starting construction at their Wyoming site for a next-generation nuclear power plant he believes will “revolutionize” how power is generated.

MAJOR BUY SIGNAL: Move Fast, Washington/Pelosi/Mill... - Ad

His system has found stocks that soared 1,174%, 2,123%, and 11,422%. But one investment he just uncovered in Washington D.C. could be his biggest discovery yet. It involves President Biden, Nancy Pelosi, trillions of dollars -- and the biggest economic shift since 1958.

AI 'gold rush' for chatbot training data could run out of human-written text

AI 'gold rush' for chatbot training data could run out of human-written text

systems like ChatGPT could soon run out of what keeps making them smarter — the tens of trillions of words people have written and shared online.

Shell To Acquire Pavilion Energy Assets From Temasek, Expanding LNG Market Reach In Europe And Singapore: Report

Shell To Acquire Pavilion Energy Assets From Temasek, Expanding LNG Market Reach In Europe And Singapore: Report

Temasek Holdings is reportedly on the verge of sealing a deal with Shell for the sale of assets from its liquefied natural gas trading firm, Pavilion Energy.

Could This New Project Top $1T? - Ad

This billionaire has predicted that his new venture - something I'm calling "X-9840" - could become "a trillion dollar company." Today, only three companies in the US are worth more than $2 trillion. Microsoft... Apple...and Nvidia. This has nothing to do with electric vehicles... Self-driving cars, rockets, brain chips, or satellites.

California lawmakers fast-track bill that would require online sellers to verify their identity

California lawmakers fast-track bill that would require online sellers to verify their identity

SACRAMENTO, Calif. (AP) — A California bill that would require marketplaces like eBay and Nextdoor to start collecting bank accounts and tax identification numbers from high-volume sellers who advertise online but collect payments offline was fast-tracked by Democratic lawmakers with committees voting on it Tuesday.

Visa's Mark Nelsen wants to make your plastic credit card obsolete

Visa's Mark Nelsen wants to make your plastic credit card obsolete

Mark Nelsen, Visa’s global head of consumer payments, sees a world where the plastic card in your wallet becomes increasingly obsolete and the standard 16-digit account number becomes worthless.

Amazon's Betting Big on This Unknown AI Company - Ad

Amazon has just made a stunning $144 million investment in one small AI company. Why? Because this under-the-radar firm holds the key to unleashing the full potential of next-gen AI... Its technology is crucial for the most advanced AI chips, including Nvidia's latest breakthrough.

What the new 'buy now, pay later' rule means for small businesses offering the service

What the new 'buy now, pay later' rule means for small businesses offering the service

NEW YORK (AP) — “Buy now, pay later” services are a popular way that shoppers pay for goods.

Chrysler recalls more than 211,000 SUVs and pickup trucks due to software malfunction

Chrysler recalls more than 211,000 SUVs and pickup trucks due to software malfunction

NEW YORK (AP) — Stellantis-owned Chrysler is recalling more than 211,000 SUVs and pickup trucks in the U.S., due to a software malfunction that could disable the cars' electronic stability control systems.

What President Biden's New Law Means for Investors - Ad

President Biden just signed a new law approving billions of dollars for one small but growing industry, and investors like Bill Gates and Peter Thiel are all over it. This expert just went public with all the details, including which stocks to jump on immediately.

From Trump's Possible Re-Election, Biden's Georgia Lead, To Michael Cohen's Family Being Doxxed: This Week In Politics

From Trump's Possible Re-Election, Biden's Georgia Lead, To Michael Cohen's Family Being Doxxed: This Week In Politics

Political news dominated by Trump and Biden, from inflation concerns to polls in Georgia. Experts weigh in on potential re-election and jail time.

Toyota's Certification Crisis Extends Beyond Japan, Could Impact EU Operations

Toyota's Certification Crisis Extends Beyond Japan, Could Impact EU Operations

Toyota Motor Corp. faces severe implications worldwide after discrepancies in vehicle certifications breach United Nations standards, impacting operations across 62 countries including the EU.

Elon Musk's Chilling Warning for Humanity - Ad

Elon Musk warned that humanity will soon be 'obsolete.' Every port, railroad, highway, and airport in America is facilitating a kind of 'invasion' that will bring about centuries worth of change in the next few years. If Elon and the research are correct -- the results could be devastating for the average American.

What's New In the Consumer Tech World Last Week? News That You Should Know (June 2-June 8, 2024)

What's New In the Consumer Tech World Last Week? News That You Should Know (June 2-June 8, 2024)

Earlier this week, former President Donald Trump made a surprising move by joining TikTok, the social media platform he once sought to ban.

What's Going On With Woodside Energy Shares Premarket Tuesday?

What's Going On With Woodside Energy Shares Premarket Tuesday?

Woodside Energy achieved first oil from the Sangomar field offshore Senegal, a deepwater project with a standalone FPSO facility and 23 wells.

A Dark Economic Force Is Coming... - Ad

This force is more powerful than the Fed, the IMF, the World Bank, and BlackRock combined -- and it's coming for your money in 2024. Take these three steps to protect your wealth now.

Benzinga Bulls And Bears: GameStop, Nvidia, Tesla, Amazon And Dogecoin Trader Predicts 'Breakout To Occur Any Day'

Benzinga Bulls And Bears: GameStop, Nvidia, Tesla, Amazon And Dogecoin Trader Predicts 'Breakout To Occur Any Day'

Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories.

Martha's Vineyard is about to run out of pot. That's led to a lawsuit and a scramble by regulators

Martha's Vineyard is about to run out of pot. That's led to a lawsuit and a scramble by regulators

VINEYARD HAVEN, Mass. (AP) — An 81-year-old woman on Martha's Vineyard drove up to the Island Time dispensary last week seeking her usual order of pot. But owner Geoff Rose had to tell her the cupboard was bare — he'd been forced to temporarily close three weeks earlier after selling every last bud and gummy.

Wall Street Icon Warns: "A Great Financial Reset Is Underway" - Ad

The man CNBC called "The Prophet" predicted the 2008 housing crisis and the 2022 sell-off... Now, he says that despite the bull market, he's worried older Americans are holding the WRONG stocks in their portfolios for this stage of their lives. So, he's urging folks to buy "America's No. 1 Legacy Stock," which could help them build wealth they could pass on for generations.

Missile attacks by Yemen's Houthi rebels strike 2 ships in the Gulf of Aden, US military says

Missile attacks by Yemen's Houthi rebels strike 2 ships in the Gulf of Aden, US military says

MANAMA, Bahrain (AP) — Missile attacks by Yemen's Houthi rebels struck two ships in the Gulf of Aden, authorities said Sunday, the latest assaults on shipping in the region.

Inflation data this week could help determine Fed's timetable for rate cuts

Inflation data this week could help determine Fed's timetable for rate cuts

WASHINGTON (AP) — After Federal Reserve officials meet this week, a statement they will issue may suggest that they’ve seen meaningful this year — a prelude to eventual interest rate cuts.

Warren Buffett's "Mystery Stock" - Ad

Billionaires are plowing millions of dollars into a new technology that early estimates say could generate more wealth than A.I. -- and determine the future of companies like Microsoft. The problem? Most investors have no idea it's happening, or how to profit on it. This expert just went public with all the details, including which stocks to jump on immediately.

Stock market today: Asian markets mixed following hotter-than-expected US jobs report

Stock market today: Asian markets mixed following hotter-than-expected US jobs report

HONG KONG (AP) — Asian markets were mixed on Monday after a released Friday came in hotter than expected, while the euro fell after French President Emmanuel Macron dissolved the National Assembly following a setback in Sunday's parliamentary election.

Trump's company: New Jersey golf club liquor license probe doesn't apply to ex-president

Trump's company: New Jersey golf club liquor license probe doesn't apply to ex-president

ATLANTIC CITY, N.J. (AP) — Former president Donald Trump is not the holder of liquor licenses at his three New Jersey golf clubs, his company said Tuesday in response to an inquiry by the New Jersey attorney general's office into whether his convictions in a New York case might affect those licenses.

Out of Control - Ad

If you're an American, you cannot deny... The situation at America's southern border is out of control. But there's another invasion happening at the same time -- and I'd wager the majority of Americans have no idea it's happening all around them. I dug into the information -- and what I've found is startling.

GM board approves another $6 billion share repurchase as the automaker gains momentum

GM board approves another $6 billion share repurchase as the automaker gains momentum

WASHINGTON (AP) — General Motors approved another $6 billion share repurchase as the Detroit automaker continues to build momentum in 2024.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright markethundred.com
Privacy Policy | Terms of Service