Royal Dutch Shell (LON:RDSa) is trading up 2.02% at 1387.00
Shares of Royal Dutch Shell (LON:RDSa) ADR (NYSE:RDSa) were up by more than 2% in Monday’s premarket trading following a Reuters report that said the energy giant is considering stake sale in its largest U.S. oil field, an exercise which could fetch it as much as $10 billion.
Separately, a CNBC report said a sale is not imminent but some of the acreage in question is part of a joint venture with Occidental (NYSE:OXY).
The sale could be for part or all of Shell’s position in the U.S. Permian Basin, located mostly in Texas, which accounted for around 6% of the Anglo-Dutch company’s total oil and gas output last year, the Reuters report said.
Shell’s energy transition plan, one of the sector’s most ambitious, aims to reduce oil and gas output gradually and boost spending on renewables, hydrogen and low-carbon technologies.
The Anglo-Dutch giant’s energy transition plan, one of the sector’s most ambitious, aims to reduce oil and gas output gradually and boost spending on renewables, hydrogen and low-carbon technologies.
On technical fronts Royal Dutch Shell (LON:RDSa) RSI stood at 61.74 and currently stock is trading above all Moving Average. So, BUY position can be taken with following target and stoploss:
TRADE SIGNAL – : Royal Dutch Shell (LON:RDSa) – BUY: 1367.00, TARGET: 1403.80, STOP LOSS : 1356.40
