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Shell Acquires 30% Stake in BP's Conifer in Gulf of Mexico
Shell Offshore, a subsidiary of Shell plc (SHEL), announced the acquisition of a 30% interest in Conifer, an exploration prospect operated by BP Exploration and Production (BP) in the U.S. Gulf of America near BP's Kaskida host development. The Conifer prospect in the GoA is located offshore within Keathley Canyon, approximately 250 miles southwest of New Orleans. BP currently holds 100% Working Interest in Kaskida and would retain operatorship following the completion of this deal. The initial exploration well for Conifer is currently expected to spud in 2027, Shell stated.
Shell Acquires 100% Stake in Tri Star Energy
Equilon Enterprises LLC, doing business as Shell Oil Products US, has signed an agreement to increase its equity from 33% to 100% in Tri Star Energy, LLC, a convenience store operator and fuel distributor operating across the southeastern United States and anchored in the Nashville market. The acquisition makes Shell the full owner of an additional 320 fuel and convenience retail sites in Tennessee and surrounding states, as well as supply agreements with 552 more dealer-owned locations. "Tri Star has built a strong business with high-quality assets, a dedicated team and a loyal customer base. The transaction is fully aligned with our growth strategy to focus capital on businesses in which we have distinctive advantages and can create long-term shareholder value," said Machteld de Haan, President of Downstream, Renewables and Energy Solutions, Shell plc. Shell is acquiring the remaining interest in Tri Star Energy from The Parman Corporation, Kimbro Oil Company, and their subsidiaries. The deal is expected to be completed by the end of 2026, subject to regulatory clearance and the satisfaction of closing conditions. Once the acquisition is complete, Tri Star Energy will be operated by Texas Petroleum Group, LLC, a wholly owned subsidiary of Shell Mobility & Convenience US LLC. SMC's portfolio will consist of nearly 550 company-owned convenience retail sites and supply agreements with approximately 650 dealer-owned sites across the southern US.
Trump Announces Historic Oil Deal with Venezuela
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.DEAL WITH VENEZUELA:President Trumpon social media, "The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY! At my direction, Secretary of State Marco Rubio, and Secretary of War Pete Hegseth, working closely with Highly Respected Interim President of Venezuela, Delcy Rodriguez, and, through a partnership with private business, have secured majority U.S. control of more than 65 BILLION BARRELS of proven Oil Reserves in Venezuela, at no cost to the American Taxpayer. This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future, while helping to continue to set Venezuela on a course toward Tremendous Success and Great Prosperity. This Transaction will greatly strengthen the already growing relationship between Venezuela and the United States!" Publicly traded companies in the oil space include BP, Chevron, ConocoPhillips, Exxon Mobil, Shelland TotalEnergies.AGREEMENTS WITH GD, LOCKHEED:The Department of Warthe signing of two framework agreements with General Dynamics Ordnance and Tactical Systemsand Lockheed Martin. These agreements initiate seven-year multiyear procurement contracts designed to increase production quantities and accelerate delivery schedules for critical missile subcomponents supporting the Terminal High Altitude Area Defense and Patriot Advanced Capability-3 Missile Segment Enhancement interceptor programs. "Today's announcement represents an example of the evolution of how we partner with industry to expand the Arsenal of Freedom, outpace emerging threats, and ensure the Warfighter never faces a fair fight. General Dynamics and Lockheed Martin have answered the call. We are cutting red tape, shortening timelines, and rapidly scaling our domestic manufacturing capacity to deliver the advanced air and missile defense capabilities," said Under Secretary of War for Acquisition and Sustainment Michael Duffey.DOJ SETTLEMENT:The Justice Department, together with the Drug Enforcement Administration, announced a $50M settlement with Walmartto resolve allegations that Walmart pharmacies illegally filled thousands of invalid prescriptions for opioids and other controlled substances in violation of the Controlled Substances Act. "Today's settlement proves this Department is committed to putting Americans' flourishing first," said Associate Attorney General Stanley Woodward.
Trump Considers Investment in Venezuela's Oil Industry
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.VENEZUELAN OIL:The U.S. is considering taking an ownership stake in Venezuela's oil industry, potentially giving American companies access to a massive resource base, Marc Caputo of Axios. While strategically significant, the production impact would likely take years to materialize, according to two U.S. officials. "President Trump is close to securing America's energy future for generations to come, not just in the U.S. but in the hemisphere," one of the officials says. Publicly traded companies in the space include BP, Chevron, ConocoPhillips, Exxon Mobil, Shelland TotalEnergies.MEAT PROCESSORS:President Donald Trump said in aon Truth social that, "Ranchers and Farmers have always been a number one priority for me. They work very hard, are smart, efficient, and immaculately CLEAN, but for years I have heard that they have had a tremendous problem with the Big Processors, who many say are a nasty Monopoly. There are, essentially, 4 of them, a very non competitive number, and they make life miserable for our wonderful Farmers and Ranchers, and I can't let that happen, can I? So, in order to break this powerful monopoly, with much of its ownership based outside of the U.S., I am authorizing legal documents to be drawn in order to allow Farmers and Ranchers to be given the right to PROCESS THEIR OWN FOOD. This should move quickly. Thank you for your attention to this matter! President DONALD J. TRUMP." Shares of Tyson Foodsand Pilgrim's Pridetraded lower on Friday. Other publicly-traded meat processors include JBSand Smithfield Foods.'HOTTEST' COMPANY:President Donald Trump said in aon Truth Social that, "GREAT NEWS! Micron, one of the 'HOTTEST' Companies in the World, just announced a MASSIVE 10 BILLION DOLLAR Investment in new Research Labs right here in America. They are keeping us at the absolute forefront of A.I. and Advanced Computing! Combined with their previous TREMENDOUS 250 BILLION DOLLAR commitment, they are creating over tens of thousands of Great American Jobs. We are bringing Critical Technologies BACK to the U.S.A. Because of our Great Policies, Companies are investing TRILLIONS. I have made it clear that America will lead the way to a new Golden Age of Science. The results speak for themselves: During my Administration, Companies are investing TRILLIONS of Dollars because they know the United States is the best place in the World to Build, Invent, and Grow. Congratulations to Micron's fantastic CEO, Sanjay Mehrotra. We are strengthening our Economy and WINNING BIG! The Golden Age of America is HERE. MAGA! President DONALD J. TRUMP."OUTSIDE EO:Wells Fargo notes that following the recent foreign inverter ban, the Trump administration issued an Executive Order increasing scrutiny of foreign-sourced grid equipment. While investor concerns are centered on Generac'suse of Baudouin engines in its 2.25-3.25 MW generator platform, the firm believes the company is largely outside the scope of the EO. With that said, Wells awaits DOE guidance to determine the ultimate impact. The firm has an Overweight rating on the shares with a price target of $280.DEAL WITH IRAN:The Trump administration has told mediators it has no interest in going back to the terms of the memorandum of understanding it reached with Iran in June, people familiar with the matter told's Summer Said, Alexander Ward and Benoit Faucon. President Trump is willing to wait and see if a policy of squeezing Iran economically bears fruit, the sources said.FAVOR WITH DEMOCRATS:Some U.S. companies with close ties to President Trump are trying to gain favor with Democrats in case they become targets if Republicans lose control of the House, Annie Linskey and Emily Glazer of The Wall Street Journal. Big tech companies are preparing for congressional and criminal investigators, some advisers, lobbyists, and board members told the Journal. Metaand others are writing big checks for Democrats; Paramount, Kalshi, and others are hiring former Democratic aides to bolster government relations; and Meta and Palantirare among the companies concerned about future requests for information, congressional hearings, and subpoenas, sources told the Journal. Additionally, executives from Amazon, Chevron, Pfizer, UnitedHealthand others attended a summer seminar hosted by the U.S. Chamber of Commerce that focused on "managing potential congressional oversight and investigations," according to documents reviewed by the Journal.AI REGULATOR:The Trump administration's proposed AI self-regulatory body appears to be stalling, suggesting uncertainty around the administration's approach to AI oversight, The Information's Leo Schwartz. A formal framework could still emerge, but the delay reinforces the broader regulatory vacuum as states continue pursuing their own AI rules, according to the report.
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