On June 15, Shell fell 4.16% in regular trading, trading at $82.35/share, with turnover of $240 million. The decline followed the company's announcement on June 12 that it would suspend its $3 billion share buyback program.
Shell stated the suspension is effective from June 12 through July 14, citing securities law compliance requirements triggered by the publication of a shareholder circular by ARC Resources. The buyback program was originally launched on May 7 with an approximate three-month contract period. Shell noted that any unexecuted repurchase volume will be carried forward to subsequent buyback plans, subject to board approval.
Additionally, Shell is reportedly preparing to sell over $1 billion in offshore wind farm assets, having engaged Rothschild & Co. and PJT Partners to lead the transaction. The move signals the company's continued retreat from renewable energy and further pivot toward its core fossil fuel business.
Within the Integrated Oil & Gas sector, the overall sector declined broadly. Among individual stocks, Exxon Mobil down 4.56%, Petroleo Brasileiro SA Petrobras down 4.50%, Occidental down 3.98%, Chevron down 3.65%, BP PLC down 3.14%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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