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COVID-19 - News digest as of 30.04.2021

April 30/2021

1. Shell raises its dividend in Q1 as profits surge

MOSCOW (MRC) -- Royal Dutch Shell"s (RDSa.L) profits leapt to USD3.23 billion in the first three months of the year and the energy company raised its dividend as planned but warned that the outlook remained uncertain due to the coronavirus pandemic, said the company. Shell"s adjusted earnings were above an average analyst forecast of USD3.125 billion and also ahead of earnings of USD2.9 billion last year, boosted by assets sales as well as higher oil and liquefied natural gas (LNG) prices. Sales of oil and gas assets in countries including Nigeria, Canada and Egypt added USD1.4 billion to first-quarter profits. Shell"s London-listed shares were up 1.2% at 0736 GMT, outperforming a 1% gain for the broader European energy index (.SXEP).

2. Crude oil futures slip on weaker economic data from China and global pandemic concerns

MOSCOW (MRC) -- Crude oil futures ticked lower during mid-morning trade in Asia April 30, as prices pulled back from a six-week high due to weaker economic data from China, and persistent concerns over the progress of the pandemic in key economies around the world, reported S&P Global. At 11:23 am Singapore time (0323 GMT), the ICE Brent June contract was down 32 cents/b (0.47%) from the April 29 settle at USD68.24/b, while the June NYMEX light sweet crude contract was down 36 cents/b (0.55%) at USD64.65/b. The downturn in the market comes after oil prices had hit a six-week high on April 29, with front month ICE Brent and NYMEX light sweet crude contracts settling at USD68.56/b and USD65.01/b, respectively.
Author:Margaret Volkova
Tags:Asia, Europe, PP, PE, crude and gaz condensate, propylene, ethylene, gas processing, petrochemistry, Shell, COVID-19, Egypt, Canada, Nigeria, USA.
Category:General News
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