Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksShell Share News (SHEL)

Share Price Information for Shell (SHEL)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2,834.00
Bid: 2,835.00
Ask: 2,836.00
Change: 20.50 (0.73%)
Spread: 1.00 (0.035%)
Open: 2,835.50
High: 2,855.00
Low: 2,827.50
Prev. Close: 2,813.50
SHEL Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

IN BRIEF: Reabold Resources resumes buyback as dissenters oppose board

Wed, 13th Dec 2023 11:06

Reabold Resources PLC - invests in "low-risk, near-term" oil and gas projects - Resumes GBP750,000 share buyback programme started in April, after receiving payment from Shell PLC for the oil major's purchase of Reabold's Victory asset. Reabold has returned GBP156,154 of the total so far, and now will complete the programme with up to a further GBP593,846 in purchases. Reabold has received from Shell GBP5.2 million out of a total GBP9.5 million in deferred net proceeds from the sale of Victory, a project offshore the UK. Reabold eventually plans to return GBP4 million of this to shareholders. "Reabold's board evaluates many investment opportunities consistent with its investing policy and believes that the current market value of the company's ordinary shares makes the buyback an appropriate use of capital," the company says on Wednesday.

Not all Reabold investors are pleased. The company also sets January 10 as the date for a general meeting requisitioned by 7.8% shareholder Pershing Nominees Ltd. The individuals behind Pershing Nominees want to remove the entire Reabold board and name four new directors. Reabold says the board unanimously recommends that shareholders vote against all the resolutions.

"The requisitioning shareholders are, once again, attempting to gain control of Reabold, its operational asset base and its cash, without paying a control premium," it says. Reabold notes the Pershing shareholder group includes Kamran Sattar, who with associates has a 40% interest in Daybreak Oil & Gas, a company in which Reabold holds a 42% stake. "Given Sattar's significant interest in Daybreak, the board fears that Sattar has a strong motive to take control of Reabold in order to prioritise the company's cash resources towards Daybreak ahead of investments in West Newton and Colle Santo, and making capital returns to shareholders," it argues.

Current stock price: 0.12 pence, up 4.2% in London on Wednesday

12-month change: down 51%

By Tom Waite, Alliance News editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
24 Apr 2024 14:40

Namibia to finalise local participation policy for oil and gas sector by Dec

WINDHOEK, April 24 (Reuters) - Namibia expects to finalise its policy on local participation in the oil and gas sector by year-end, the energy minister said on Wednesday, as the country looks to industrialize and share economic benefits to its people.

Read more
24 Apr 2024 13:24

Pressure on gas and LNG prices to help switch from coal, says J.P. Morgan

LONDON, April 24 (Reuters) - Global natural gas prices will come under pressure through the end of the decade as supply and shipping infrastructure grow rapidly, particularly in Qatar and the U.S., J.P. Morgan said in a report.

Read more
24 Apr 2024 11:26

OPEC excited about Namibia partnership, offers support

WINDHOEK, April 24 (Reuters) - The Organization of the Petroleum Exporting Countries (OPEC) is excited about a potential partnership with Namibia and ready to support the southern African country in its oil journey, OPEC Secretary General Haitham Al Ghais said on Wednesday.

Read more
23 Apr 2024 16:37

Nigeria's NNPC resumes Awoba oil output, targeting 12,000 bpd

ABUJA, April 23 (Reuters) - Nigeria's NNPC and joint venture partner Newcross Exploration and Production have resumed output at the Awoba oilfield that ceased operations in February 2022 due to oil theft that curbed exports, the state oil company said on Tuesday.

Read more
23 Apr 2024 10:30

Mitsui says no decision yet on ADNOC LNG project tie-up after Nikkei report

TOKYO, April 23 (Reuters) - Japan's Mitsui & Co said on Tuesday nothing has been decided on a liquefied natural gas (LNG) project in the United Arab Emirates, after the Nikkei reported it was teaming up with Abu Dhabi National Oil Company (ADNOC) on it.

Read more
23 Apr 2024 08:26

Britain's FTSE 100 blue-chip stock index hits record high

LONDON, April 23 (Reuters) - Britain's blue-chip FTSE 100 index hit a record high on Tuesday, following last week's sharp selloff, as fears of the Middle East crisis escalating eased and investors looked ahead to top U.S. earnings later in the week.

Read more
22 Apr 2024 13:17

Oman LNG signs supply deal with TotalEnergies

DUBAI, April 22 (Reuters) - Oman LNG and TotalEnergies, one of its shareholders, have signed a sale and purchase agreement to supply 800,000 metric tons per year of liquefied natural gas, the companies said on Monday.

Read more
22 Apr 2024 11:49

Investors push Equinor to align strategy with global climate goal

Comes as company plans to expand production

*

Read more
22 Apr 2024 11:00

Investors push Equinor to align strategy with global climate goal

Comes as company plans to expand production

*

Read more
22 Apr 2024 08:32

Oman LNG signs supply deal with TotalEnergies

DUBAI, April 22 (Reuters) - Oman LNG and TotalEnergies, one of its shareholders, have signed a sale and purchase agreement to supply 800,000 metric tons per year of liquefied natural gas, the companies said on Monday.

Read more
21 Apr 2024 19:54

Portugal's Galp says field off Namibia could contain 10 bln barrels of oil

LISBON, April 21 (Reuters) - Portuguese oil company Galp Energia said on Sunday it had concluded the first phase of exploration in the Mopane field off the coast of Namibia and estimated it could have at least 10 billion barrels of oil.

Read more
18 Apr 2024 14:45

BP's gas and renewables boss steps down, as CEO shrinks leadership

LONDON, April 18 (Reuters) - BP said on Thursday its head of natural gas and low carbon energy Anja-Isabel Dotzenrath will step down after just over two years, while CEO Murray Auchincloss announced plans to simplify its management structure.

Read more
18 Apr 2024 12:02

LONDON MARKET MIDDAY: FTSE 100 up despite hawkish Fed rates outlook

(Alliance News) - Stock prices in London were higher on Thursday afternoon, despite the prospect of higher for longer US interest rates hanging over stocks.

Read more
17 Apr 2024 18:58

Shell urges investors to reject shareholder group's climate demands

LONDON, April 17 (Reuters) - Shell on Wednesday urged shareholders to vote against an independent resolution, co-filed by a group of 27 investors, that called on the energy company to set tighter climate targets.

Read more
17 Apr 2024 13:55

Shell urges investors to reject shareholder group's climate demands

LONDON, April 17 (Reuters) - Shell on Wednesday urged shareholders to vote against an independent resolution, co-filed by a group of 27 investors, urging the energy company to set tighter climate targets.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.