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Shell (SHEL) Plans to Build 6 Offshore Wind Farms in Brazil
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Shell plc (SHEL - Free Report) , which is one of the world’s biggest oil and gas conglomerates, stated that it applied for regulatory licenses and approval with the federal body — Institute for the Environment and Natural Resources of Brazil — for the construction of six wind projects. These projects will have a combined capacity of 17 gigawatts in the offshores of the South American nation.
The said wind farms are to be developed in offshore waters of the Brazilian states of Piaui, Ceara, Rio Grande do Norte, Espirito Santo, Rio de Janeiro, and Rio Grande do Sul. Shell said that it anticipates starting the environmental study later this year and is awaiting the definition of the remaining regulations, which will dictate the development of the projects.
"With more than 20 years of experience in wind energy worldwide and over 50 years of tradition in offshore projects, Shell intends to combine its expertise on these two fronts with the aim of providing more energy and clean energy to the country," per Shell Brazil’s renewable generation manager, Gabriela Oliveira.
The company already has offshore wind undertakings in Scotland, the Netherlands, South Korea and the United States, where it recently got success in the New York Bight leasing round.
Headquartered in London, Shell is one of the primary oil supermajors, a group of U.S. and Europe-based big energy multinationals with operations spanning worldwide. The company is fully integrated as it participates in every aspect related to energy, from oil production to refining and marketing. SHEL operates as an energy and petrochemical company. Shell plc was formerly known as Royal Dutch Shell.
The Zacks Consensus Estimate for Chevron’s 2022 earnings has been revised 27% upward over the past 60 days. Chevron is valued at around $320 billion.
CVX stock has gone up 66.3% in a year. The Zacks Consensus Estimate for Chevron’s 2022 earnings is pegged at $12.80 per share, up 57.4 % from the projected year-ago earnings of $8.13.
The Zacks Consensus Estimate for Vista’s 2022 earnings is pegged at $1.55 per share, up 187% from the projected year-ago earnings of 54 cents.
Vista stock has rallied 230.6% in a year. The Zacks Consensus Estimate for VIST’s 2022 earnings has been revised 11.5% upward over the past 60 days.
Ranger Oil beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters, the average being around 27.3%. Ranger Oil stock has increased 162.9% in a year.
The Zacks Consensus Estimate for ROCC’s 2022 earnings is projected at $9.62 per share, which is an increase of 75.5% from the projected year-ago earnings of $5.48.
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Shell (SHEL) Plans to Build 6 Offshore Wind Farms in Brazil
Shell plc (SHEL - Free Report) , which is one of the world’s biggest oil and gas conglomerates, stated that it applied for regulatory licenses and approval with the federal body — Institute for the Environment and Natural Resources of Brazil — for the construction of six wind projects. These projects will have a combined capacity of 17 gigawatts in the offshores of the South American nation.
The said wind farms are to be developed in offshore waters of the Brazilian states of Piaui, Ceara, Rio Grande do Norte, Espirito Santo, Rio de Janeiro, and Rio Grande do Sul. Shell said that it anticipates starting the environmental study later this year and is awaiting the definition of the remaining regulations, which will dictate the development of the projects.
"With more than 20 years of experience in wind energy worldwide and over 50 years of tradition in offshore projects, Shell intends to combine its expertise on these two fronts with the aim of providing more energy and clean energy to the country," per Shell Brazil’s renewable generation manager, Gabriela Oliveira.
The company already has offshore wind undertakings in Scotland, the Netherlands, South Korea and the United States, where it recently got success in the New York Bight leasing round.
Headquartered in London, Shell is one of the primary oil supermajors, a group of U.S. and Europe-based big energy multinationals with operations spanning worldwide. The company is fully integrated as it participates in every aspect related to energy, from oil production to refining and marketing. SHEL operates as an energy and petrochemical company. Shell plc was formerly known as Royal Dutch Shell.
Shell currently carries a Zacks Rank #3 (Hold). Investors interested in the energy space might look at the following companies. Chevron (CVX - Free Report) , Vista Oil & Gas (VIST - Free Report) and Ranger Oil each sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Chevron’s 2022 earnings has been revised 27% upward over the past 60 days. Chevron is valued at around $320 billion.
CVX stock has gone up 66.3% in a year. The Zacks Consensus Estimate for Chevron’s 2022 earnings is pegged at $12.80 per share, up 57.4 % from the projected year-ago earnings of $8.13.
The Zacks Consensus Estimate for Vista’s 2022 earnings is pegged at $1.55 per share, up 187% from the projected year-ago earnings of 54 cents.
Vista stock has rallied 230.6% in a year. The Zacks Consensus Estimate for VIST’s 2022 earnings has been revised 11.5% upward over the past 60 days.
Ranger Oil beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters, the average being around 27.3%. Ranger Oil stock has increased 162.9% in a year.
The Zacks Consensus Estimate for ROCC’s 2022 earnings is projected at $9.62 per share, which is an increase of 75.5% from the projected year-ago earnings of $5.48.