Shell plc (SHEL)

BP Plc to reopen office in Libya by 2025, signs agreement with NOC for new exploration opportunities. Shell also involved in development initiatives.

Shell plc released updated financial outlook for Q2 2025, expecting reduced production in gas and upstream segments and stronger earnings in marketing. Tax, derivative, and working capital fluctuations contribute to overall cash flow uncertainty.

While Dow Jones futures edged lower by 0.06% at the time of writing, the S&P 500 futures were down 0.3%.

The company also forecasts production between 900,000 and 940,000 barrels of oil equivalent per day (boed) in its integrated gas unit.

Piper Sandler also raised its price target on Shell to $83 from $80 on Wednesday, while maintaining an ‘Overweight’ rating on the stock.

While Dow Jones futures surged 0.24% at the time of writing, the S&P 500 futures gained 0.36%.

Shell said it has no plans to acquire BP, rejecting media reports and confirming no talks have occurred under the UK Takeover Code's Rule 2.8.

Renowned television host Jim Cramer is cheering a potential mega merger between energy giants Shell PLC (NYSE: SHEL) and BP PLC (NYSE: BP), seeing it as a catalyst for a broader surge in deal-making activity.

Tech stocks climbed to new highs early Wednesday, with the Nasdaq 100 briefly touching 22,329 points after the opening bell, surpassing its previous peak from February 19.

According a report by The Wall Street Journal, discussions between Shell and BP are progressing slowly and remain preliminary, with no guarantee of a deal.

Shell is in early talks to acquire its rival BP, sending BP shares soaring. The landmark deal could combine two energy supermajors, but faces significant regulatory hurdles globally.

While crude oil transport has not been affected directly, concerns remain that Iran could move to block the Strait of Hormuz, a crucial passage for oil tankers.

The Benzinga Stock Whisper Index looks at five stocks seeing increased attention from readers during the week and a look at what could be causing the increased interest.

Shell Nigeria Exploration acquired TotalEnergies' 12.5% interest in OML 118 PSC for $510 million, increasing its ownership to 67.5%. This will boost Shell's production and growth in its Upstream portfolio, with the Bonga North project expected to contribute to sustained liquids production. Completion of the deal is expected by the end of the year. SHEH and ABLD are ETFs that provide exposure to Shell.

TotalEnergies SE (NYSE: TTE) shares are trading higher premarket on Tuesday as the company begins oil production from Mero-4 in Brazil's Santos Basin.

These oil services companies act as the picks and shovels for the oil and gas markets and could be set to soar if the price of oil rises for whatever reason