Shell Surges as Diesel Margins Smash $108

Dell (DELL), Roivant (ROIV), and Shell (SHEL) hit 52-week highs. Dell rose 1% on AI demand and S&P 100 inclusion, with Q2 AI server revenue near $74B. Roivant gained 18% on positive clinical trial results for mosliciguat. Shell climbed 2% on Gulf of Mexico expansion and a Morgan Stanley upgrade.

Shell is exploring the sale of a majority stake in its Bintulu GTL plant in Malaysia, potentially raising $1 billion. The plant, Shell's first commercial gas-to-liquids facility, processes 100 million cubic feet of natural gas daily. Shell owns 72% of the asset, with discussions ongoing and no final decision made. The move aligns with CEO Wael Sawan's strategy of portfolio optimization, following recent sales and acquisitions.

Oil prices neared $100 due to Middle East tensions, Houthi attacks, and U.S. strikes on Iranian tankers. European gas prices surged to €75/MWh amid low inventories. TotalEnergies (TTE) and ExxonMobil (XOM) advanced the Papua LNG project. Shell (SHEL) may sell its stake in a gas plant. Tamarack Valley Energy (TVE) and Headwater Exploration (HWX) merged in a $7.2B deal. BP (BP) appointed a new chair. ENI (ENI) secured a 25-year contract in Venezuela. OPEC+ kept October production targets unchanged

Shell (SHEL) completed its $13.9B ARC Resources deal, adding 370,000 boe/d. It is exploring a potential $8B sale of U.S. chemicals assets. Shell also bought a 50% stake in Brazil's Tupinambá block, executed share buybacks, and sold gasoline in Europe. Piper Sandler raised its price target to $100. UK approval for the Jackdaw gas field is expected soon.

Nigeria's Bonga South-West Aparo (BSWA) deepwater oil project, with a potential $15-21 billion investment, has taken a step closer to final approval. NNPC and partners Shell, Esso, and Agip signed agreements in August 2026, aiming to attract significant investment and boost Nigeria's oil production. The project could produce 175,000 barrels of oil and 140 million cubic feet of gas daily, potentially strengthening Nigeria's energy sector and economy.

Chevron plans to invest $7 billion in Venezuela over five years, aiming to double oil production to 600,000 bpd. NABEP secured control of oilfields with 65 billion barrels of reserves, planning $100 billion in investments. Chevron and Shell also signed a preliminary agreement for Ghana's South Deepwater Tano block. SOCAR acquired stakes in Comstock Resources' Haynesville shale assets for $1.65 billion. Shell bought into BP-operated prospects in the Gulf of Mexico and Brazil.