Elon Musk's Crazy New Experiment...REVEALED

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.

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

Benzinga Neuro
June 13, 2024

Singapore-based Temasek Holdings is reportedly on the verge of sealing a deal with Shell Plc. (NYSE:SHEL) for the sale of assets from its liquefied natural gas trading firm, Pavilion Energy.

What Happened: The deal, which is expected to be finalized in the coming days, will provide Shell, the world’s leading LNG trader, with access to gas markets in Europe and Singapore. The deal’s value is estimated to be in the hundreds of millions of U.S. dollars, significantly lower than the initial asking price by Temasek, Reuters reported, citing two sources with knowledge of the matter.

The Pavilion Energy asset sale will exclude Gas Supply Pte Ltd, which holds a license to import natural gas from Indonesia via pipeline, due to energy security concerns.

Temasek had put the Singapore-based trader up for sale after Pavilion Energy turned a profit in the year to March 2023, driven by robust LNG prices following the Ukraine war.

Shell, which already supplies a quarter of Singapore’s natural gas needs, will become the city-state’s largest gas supplier as a result of this deal.

“Pavilion’s positions in both the Atlantic and Pacific, alongside LNG bunkering, fit nicely within Shell’s existing portfolio and LNG market growth ambitions,” said Saul Kavonic, an energy analyst at MST Marquee.

Temasek declined to comment on the report, while Pavilion Energy and Shell did not immediately respond to Benzinga's request for comment.

See Also: ‘Rich Dad Poor Dad’ Author Robert Kiyosaki Says Bitcoin Is The Simplest Way To Become A Millionaire: ‘Does The Hardwork For Me’

Why It Matters: The LNG market has been witnessing significant activity recently. In May, Shell and Exxon Mobil Corp. were reported to be considering the sale of their North Sea assets in a deal valued at $500 million. The potential deal would mark Exxon’s complete exit from the North Sea, where it has had a presence since 1964.

However, the energy industry is also facing challenges. On Tuesday, California Attorney General Rob Bonta filed an amended complaint targeting major fossil fuel companies like Exxon Mobil, Shell, BP, and ConocoPhillips, requiring them to forfeit profits earned through illegal activities related to climate change. This has led to increased scrutiny of the industry’s practices and could impact future deals and operations.

Price Action: Shares of Shell PLC closed at $70.41 on Wednesday, up 0.17%. Premarket trading on Thursday shows a slight dip of 0.27%, according to the data from Benzinga Pro.

Read Next: Bitcoin, Ethereum, Dogecoin Remain Choppy, Analyst Forecasts 2X-10X Increase For King Crypto This Bull Cycle

Photo courtesy: Shutterstock

This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote

Continue Reading...

Popular

Joe Biden's Biggest Mistake - Ad

On February 27, 2023, Joe Biden made a decision that could cost the U.S. government $9 trillion dollars...and cut the living standards of American citizens by 25%. How you handle this situation will be one of the most important financial decisions you ever make.

Wall Street's Most Accurate Analysts Spotlight On 3 Financial Stocks Delivering High-Dividend Yields

During times of turbulence and uncertainty in the markets, even when markets are at all-time highs, many investors turn to dividend-yielding stocks.

Vietnam's VinFast looks to tiny EV, priced at less than $10,000, to change its fortunes

HANOI, Vietnam (AP) — Vietnamese automaker VinFast, for a short time the third-most valuable car company in the world, has a big problem: It just can’t sell enough cars.

Big Tech Is Spending Billions Each Month on This AI Superproject - Ad

Big Tech is committing billions each month to the construction of these AI mega data centers. This is where Nvidia, comes in. It's quietly leaning on a set of what we call Silent Partners to get the job done. These companies could benefit greatly from this next wave of the AI boom.

Elon Musk Responds To Vivek Ramaswamy As To Who's Running The Country After Trump-Biden Debate: 'Maybe Nobody'

Tesla Inc. CEO Elon Musk gave a cryptic response to a comment from former GOP candidate Vivek Ramaswamy about who's actually running the country.

Top 3 Industrials Stocks That Are Ticking Portfolio Bombs

Three stocks in the industrials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

July 22nd - The Biggest Crypto Event in History - Ad

According to the man who called every major market top and bottom for the last 29 years... A single event triggering on June 24th will send the crypto market soaring. But what's more exciting... is that this event could send a small sector of the crypto market soaring 5X, 25X, and even 100X higher in just days.

Joe Biden Shares His Performance Enhancer Drink Ahead Of 2024 US Presidential Debate: 'I Don't Know What They've Got In These'

Ahead of the debate, Biden took to X, sharing a humorous post about his "performance enhancer" drink, DARK BRANDON'S SECRET SAUCE, and joked, "I don't know what they've got in these performance enhancers, but I'm feeling pretty jacked up. Try it yourselves, folks.

Man Who Predicted Trump 2016 Win: "Prepare for Election Meltdown" - Ad

In 2016, surveys were giving Hillary Clinton more than 99% chance of winning right up until election night. But right before the election... Former advisor to the CIA, Jim Rickards predicted Trump would win. You won't believe what he's predicting now. And it could have huge implications for the financial markets.

The End of America's Global Leadership - Ad

Believe it or not, this October surprise could end up being the real election story when historians write their books. And no matter who wins, it may be impossible to restore America's global standing afterwards.

Boeing Faces Sanctions From NTSB Over Unauthorized Release Of 737 MAX Investigation Details

The NTSB's action further strains the relationship between Boeing and government agencies, amid the planemaker's efforts to avoid criminal charges from the U.S. Department of Justice (DOJ) before a July 7 deadline.

CDC Advisor Panel Recommends RSV Shots In US For People Above 75 Years, Analyst Says Decision Negative For GSK

The CDC's ACIP recommends RSV vaccines for adults 75+, and for those 60-74 with chronic conditions. GSK's Arexvy is approved for adults 50-59 at risk. A decision on adults 50-59 is pending further data.

The Election Shock Nobody Expected... (But You'll See It Coming) - Ad

It comes down to just 9 words...Nine simple words which when spoken, will determine the outcome of the 2024 election...These words have nothing to do with Trump, the economy, or what's happening in Ukraine, China or Israel. This is the scandal that isn't being reported (yet.) But my political operatives tracked down this story.

Colorado's Youth Cannabis Use Hits Historic Lows, Survey Finds

Colorado's latest survey shows declining youth cannabis use alongside broader shifts in risky behaviors and mental health improvements.

Coinbase Shares Spike After Company Unveils Stripe Collaboration To Streamline Crypto Payouts

In a significant move for the cryptocurrency world, leading digital asset exchange Coinbase Global Inc. (NASDAQ:COIN) and payment processing giant Stripe have unveiled a strategic alliance aimed at enhancing cryptocurrency payment solutions.

The Ultimate October Surprise? - Ad

In 2016, the October Election Surprise was Hillary Clinton's email scandal...In 2020, it was the suppression of all the dirty material on Hunter Biden's "forgotten" laptop...Now, in 2024, we're forecasting an October Election Surprise that almost no one sees coming...It's not at all what you think.

What's Going On With Cheche Group Shares Today?

Cheche Group shares rise as it expands insurance collaborations with BAIC Group's Beijing Anpeng, enhancing ties with new energy vehicle manufacturers in China.

Nike Analysts Sour On Retailer's Short-Term Prospects Following Poor Outlook: 'No Quick Rebound'

Nike shares plummet after weak revenue numbers and lowered guidance. Analysts have mixed opinions, with some seeing a long-term play and others disappointed by lifestyle category trends.

Military to spend billions on "Living Missile" - Ad

We've just prepared a new report on the small defense contractor that makes this weapon - plus three other small defense firms best positioned to ride this mega-trend...

TikTok And Social Media Influencers Drive Gen Z's Shopping Habits In Asia-Pacific: Report

The shopping habits of Generation Z in the Asia-Pacific region are being significantly influenced by TikTok and social media influencers, a KPMG report has revealed.

Supreme Court Rejects Trump-Ally Steve Bannon's Appeal, Prison Sentence Looms

The Supreme Court dismissed Steve Bannon's final appeal to avoid prison, mandating him to report to prison by July 1 for his contempt of Congress conviction.

Billionaire Peter Thiel Voices Skepticism On Bitcoin's Future Growth: 'I'm Not Sure It's Going To Go Up That Dramatically'

Tech billionaire Peter Thiel has voiced doubts about Bitcoin’s (CRYPTO: BTC) capacity for significant price growth while also expressing regret for not purchasing more of the cryptocurrency.

New "Living Missile" to Replace Nuclear Missiles - Ad

CBS News Reports: "It's an entirely new type of weapon." The New York Times Reports: "No existing defense can stop it." And one small company is building them for the Pentagon!

Peter Schiff Says 'Things Will Likely Get Much Worse From Here' For Bitcoin Investors, But 3 BTC Metrics Are Flashing Bullish Signals, According To Expert

Economist and well-known Bitcoin (CRYPTO: BTC) critic Peter Schiff has issued a warning to investors, predicting a gloomy outlook. However, an investment expert has identified three bullish signals for the King Crypto.

Ford's Jim Farley Embraces EVs, Exciting Rival Tesla CEO Elon Musk, But Report Says Nearly Half Of EV Owners In US Want To Switch Back To Gas

Ford CEO Jim Farley on Friday wrote an article on X, detailing his long-standing love for gas vehicles and a newfound love for EVs, and rival CEO Elon Musk is excited. The sentiment, however, is not shared by EV owners across the U.S.

The AI Presentation 'They' Don't Want You to See - Ad

Wall Street legend confesses, "I feel a sense of duty to share what I know with as many people as I can... that's why I made this free for all to view."

65% Of New Hampshire Residents Support Legalizing Adult-Use Cannabis, New Poll Shows

New Hampshire poll shows 65% support for recreational cannabis legalization despite legislative setbacks. Public opinion pushes for reform.

Chipmakers, Cruise Lines, Crypto Rally, Nvidia Reclaims $3 Trillion; Blue Chips, Small Caps Dip: What's Driving Markets Tuesday?

Tech stocks are poised to break a three-day losing streak on Tuesday, driven by a robust rally in chipmakers, with Nvidia Corp. (NASDAQ:NVDA) rising over 4% and reclaiming its $3-trillion....

The 7th Trillion Dollar Company? - Ad

There are six American companies worth over $1 trillion. Could there be a seventh soon? This company signed a massive deal with Apple until 2040 and is also involved with Nvidia, Google, and Samsung. Could this be the next trillion-dollar company? A top stock expertpicker thinks so.

Ethereum Co-Founder Confident Cardano Will Flip Bitcoin To Emerge As World's Biggest Crypto: 'There's Nothing That Can Compete With It'

Cardano (CRYPTO: ADA) founder Charles Hoskinson expressed confidence that the native coin of the ecosystem will flip Bitcoin (CRYPTO: BTC) to become the world's largest cryptocurrency in the future.

Bitcoin Rebounds From ETF Outflows, Back Above $61K

Bitcoin (CRYPTO: BTC) has bounced from its poor showing in Monday trading and is trading back above $61,000, despite significant net outflows from spot ETFs.

China's Secret Plan to Bankrupt Millions of Americans? - Ad

A mountain of evidence compiled over the past 20 months makes it clear to us that China has put in a covert plan that will cost the U.S. government $9 trillion...and harm ordinary citizens. How you handle this situation will be one of the most important financial decisions you ever make.

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