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SHELL SETTLES WITH IRAQ FOR A $12 BILLION GAS DEAL (RDA.A)
Jul 08, 2011 (SmarTrend(R) News Watch via COMTEX) -- Oil and gas company Royal Dutch Shell PLC (NYSE:RDA.A) Iraq have settled throughout legal issues that have postponed a $12 billion gas deal for more than two years and a first round contract could be signed by the middle of next week, a senior Iraqi oil official said Friday.
The oil ministry has been effectively to finalize a combined venture between South Gas Co. since the signing agreement in 2008.
An official told Dow Jones, "We are meeting with Shell and Mitsubishi in the middle of next week to finalize some points and we are hoping to sign an initial contract the following day,"
Royal Dutch Shell (NYSE:RDS.A) has a potential upside of 15.6% based on a current price of $72.55 and an average consensus analyst price target of $83.83.
Royal Dutch Shell is currently above its 50-day moving average (MA) of $70.84 and above its 200-day of $68.31.
In the last five trading sessions, the 50-day MA has fallen 0.23% while the 200-day MA has risen 0.29%.
Royal Dutch Shell PLC, through subsidiaries, explores for, produces, and refines petroleum. The Company produces fuels, chemicals, and lubricants. Shell owns and operates gasoline filling stations worldwide.
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Jul 08, 2011 (SmarTrend(R) News Watch via COMTEX) -- Oil and gas company Royal Dutch Shell PLC (NYSE:RDA.A) Iraq have settled throughout legal issues that have postponed a $12 billion gas deal for more than two years and a first round contract could be signed by the middle of next week, a senior Iraqi oil official said Friday.
The oil ministry has been effectively to finalize a combined venture between South Gas Co. since the signing agreement in 2008.
An official told Dow Jones, "We are meeting with Shell and Mitsubishi in the middle of next week to finalize some points and we are hoping to sign an initial contract the following day,"
Royal Dutch Shell (NYSE:RDS.A) has a potential upside of 15.6% based on a current price of $72.55 and an average consensus analyst price target of $83.83.
Royal Dutch Shell is currently above its 50-day moving average (MA) of $70.84 and above its 200-day of $68.31.
In the last five trading sessions, the 50-day MA has fallen 0.23% while the 200-day MA has risen 0.29%.
Royal Dutch Shell PLC, through subsidiaries, explores for, produces, and refines petroleum. The Company produces fuels, chemicals, and lubricants. Shell owns and operates gasoline filling stations worldwide.
[You must be registered and logged in to see this link.]
