New York, Feb 27, 2026, 03:06 EST — The market has closed.
- Shell’s U.S. shares slipped 1.3% on Thursday, finishing at $81.18.
- Shell is taking another look at segments of its Shell Ventures portfolio, Reuters reported, and could opt to sell off certain holdings.
- Shell reported reduced production at Norway’s Ormen Lange gas field, tying the duration of the cutback to weather conditions.
Shell Plc’s U.S. shares slipped 1.3% Thursday, ending the session at $81.18. Investors weighed portfolio trimming and the risks tied to operations and joint ventures. Shares barely budged after hours.
Why does this hit Shell right now? The company is pitching investors on its plan to keep a lid on spending—even as it promises steady buybacks and dividends. But priorities are clashing: Shell’s scaling back on some smaller low-carbon projects, managing fallout from a gas outage in Europe, and fielding concerns about possible extra backing for its Brazil biofuels business.
Shell is weighing a possible sale of part of its Shell Ventures portfolio, according to two people with knowledge of the situation who spoke to Reuters on Thursday. Most investments will likely stay put, one of the sources noted.
Shell is working to resolve issues with subsea equipment at Norway’s Ormen Lange gas field, which has been running below capacity since Feb. 16. According to Shell Norway, the company has sent out a vessel equipped with a remotely operated vehicle (ROV) to check the impacted underwater gear.
Production is down by roughly 11.9 million cubic metres per day from a total capacity of 26 million, with the most recent guidance pointing to a March 12 resolution, according to regulatory filings cited by Reuters. Shell says “other subsea equipment is working as normal,” and noted that further updates would appear on the Gassco market portal. Reuters
Shell kept up its share buyback, scooping up 1,287,020 shares on Feb. 26 in London and other European markets. The company, which typically cancels repurchased stock, said these transactions fell under the buyback programme announced on Feb. 5.
Energy stocks have been moving alongside oil, as Brent crude ticked up roughly 0.7% in early Friday trading, Reuters market data showed.
Raizen, the Brazilian sugar and ethanol joint venture between Shell and Cosan, has been in the spotlight. According to Reuters late Thursday, creditors are pushing back against plans to break up the company and instead want shareholders to put in additional capital. Shell, for its part, said it’s still working with both Raizen and Cosan to help reduce leverage.
Shell faces a tricky situation here. If Ormen Lange stays offline for longer, that might overlap with a period of weaker trading. And if Raizen’s cash demands overshoot forecasts, Shell’s commitment to buybacks at this pace could get stretched.
Traders, ahead of the next U.S. session, are watching for Shell to clarify what exactly “under review” signals for its venture holdings. They’re also waiting on new details about the Ormen Lange curtailment, especially as North Sea weather continues to shift.
Investors are eyeing March 12 for Shell’s annual report and Form 20-F, with first-quarter 2026 earnings and dividend details scheduled for May 7.
