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Shell second quarter 2026 update note
The following is an update to the second quarter 2026 outlook and gives an overview of current expectations for the second quarter.
Shell completes sale of Jiffy Lube International and Premium Velocity Auto to Monomoy Capital Partners
Houston − Pennzoil Quaker State Company DBA SOPUS Products, a wholly owned subsidiary of Shell USA, Inc., that comprises Shell’s United States (“U.S.”) lubricants business, has completed the previously announced sale of Jiffy Lube International (JLI) and its subsidiary Premium Velocity Auto (PVA) LLC business to an affiliate of Monomoy Capital Partners (Monomoy) for $1.3 billion.
Shell to sell interest in Gulf of America platform
Houston − Shell Offshore Inc., a subsidiary of Shell plc, has agreed to sell its 50% non-operated working interest in the Na Kika platform and associated fields in the Gulf of America as well as its 100% owned Coulomb tieback. The assets will be acquired by subsidiaries of Talos Energy and Ridgewood Energy for a total consideration of $1.7 billion, subject to customary adjustments and certain contingent payments.