uploads///part

Key Energy Industry Updates for May 30–June 2

By

Dec. 4 2020, Updated 10:42 a.m. ET

Shell’s Brazilian Deep-Water Portfolio

Royal Dutch Shell (RDS.A) has started operations on the FPSO (floating production storage offloading) P-66 in the Lula South Field, Santos Basin, Brazil. This is its tenth FPSO in terms of working interest in the Compos and Santos basins. The company also operates two other FPSOs, the BC-10 and the Bijupirá and Salema, in the offshore Brazil region. Thus, offshore Brazil is a vital part of Shell’s robust upstream portfolio.

Article continues below advertisement

Why Schlumberger’s Stock Price Is Bearish

So far, Schlumberger (SLB), the largest oilfield equipment and services provider according to market capitalization, has had a sloppy run on Wall Street in 2017. On May 30, 2017, Schlumberger was trading at $68.74, which was ~19% lower than its price at the start of 2017. The VanEck Vectors Oil Services ETF (OIH), an ETF tracking an index of 25 OFS companies, has fallen 24% YTD (year-to-date). Schlumberger accounts for 21% of OIH. The Dow Jones Industrial Average (DJIA-INDEX) has fallen 8.5% YTD.

Why Phillips 66 Stock Fell in 2Q17

Since April 3, 2017, Phillips 66 (PSX) stock has fallen 2.0%, which is more than its peer Valero Energy (VLO). On the other hand, Tesoro (TSO) and Marathon Petroleum (MPC) have risen during the quarter.

Advertisement

Latest Schlumberger NV News and Updates

    Market Realist Logo

    © Copyright 2022 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.