A joint venture between Shell (LON:SHEL) and Nickel Asia Corporation (PSE:NIKL) secured PHP 9.36 billion (USD 156 million). The financing funds the first two phases of the 240 MWp San Isidro solar project in Leyte, Philippines.
Wells Fargo raised its Shell price target to USD 94 from USD 77. The bank maintains an 'Equal-Weight' rating. A separate broker downgraded Shell to 'neutral'.
Middle East geopolitical events caused production disruptions and price swings. These factors contribute to broader market volatility for oil majors.