Shell & CNOOC Greenlight Major Petrochemical Expansion In Southern China
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 15 2025
0mins
Source: Benzinga
Investment Decision: Shell PLC and CNOOC Petrochemicals announced a final investment decision to expand the Daya Bay petrochemical complex in southern China, adding a third ethylene cracker with an annual capacity of 1.6 million tonnes and a facility for high-performance specialty chemicals.
Market Impact: The expansion aims to meet growing domestic demand in China across various sectors, enhancing CSPC's competitiveness and integrating with existing operations, while Shell's shares saw a slight increase following the announcement.
Analyst Views on PWER
Wall Street analysts forecast PWER stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PWER is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
0 Buy
0 Hold
0 Sell
Current: 38.411
Low
Averages
High
Current: 38.411
Low
Averages
High
No data
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
