Royal Dutch Shell plc: Buyback of Own Shares (SYS-CON Media)
Royal Dutch Shell plc (ADR) (NYSE:RDS.A) announces that on 27 August, 2013 it purchased for cancellation 300,005 “B” Shares at a price of 2151.73 pence per share. Following the cancellation of these shares, the remaining number of “A” Shares of Royal Dutch Shell plc will be 3,821,611,712 and the remaining number of “B” Shares of Royal Dutch Shell plc will be 2,516,137,286.
Total Buys Chevron Businesses in Egypt (Capital.gr)
TOTAL S.A. (ADR) (NYSE:TOT) and Cairo-based Beltone Private Equity said Tuesday they have bought the Egyptian retail fuel stations and aviation businesses of Chevron Corporation (NYSE:CVX), creating Total’s largest marketing and services subsidiary outside of Europe. The purchase, for an undisclosed sum, covers 66 service stations, two oil depots and aviation fuel operations at the Cairo and Marsa Alam airports, with an annual sales volume in excess of 1.4 million tons, the companies said in a statement. The deal, which is subject to regulatory approval, will allow the French oil giant “to pursue its growth and significantly strengthen its local footprint following the partnership between the Total Group and its Egyptian partner, Beltone,” the statement added.
Petrobras Falls After Mantega Says No Decision on Fuel Prices (Bloomberg)
Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), Brazil’s state-run oil company, extended losses after Finance Minister Guido Mantega said a weaker currency won’t prompt an increase in domestic fuel prices. Rio de Janeiro-based Petrobras fell 1.7 percent to 18.23 reais at the close in Sao Paulo. Losses for the year widened to 6.6 percent, compared with a 15 percent drop in the benchmark index. The government hasn’t made a decision on adjusting the price Petrobras, as the biggest producer in deep waters is known, uses to sell gasoline and diesel to distributors, Mantega said today at an event in Sao Paulo. Mantega is the chairman of Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), which the government controls through a majority of voting shares.
Shell opens bidding for ethane at proposed Beaver County cracker plant (Pittsburgh Post Gazette)
Shell has began a two-month bidding period to solicit ethane commitments from Marcellus Shale operators for its proposed Beaver County cracker, the company said today. Ethane, a natural gas liquid found in shale gas in western Pennsylvania, can be turned into ethylene, a feedstock for the petrochemical industry. If Shell Chemical, a division of Royal Dutch Shell plc (ADR) (NYSE:RDS.A), decides to build the first world-scale cracker in the Marcellus region, some of its ethane would come from Shell’s own oil and gas production in the region. In addition, the company has already secured commitments from Consol Energy Inc., Noble Energy Inc., Seneca Resources Corp., and Hilcorp Energy Co.