Royal Dutch Shell Plc. RDS.A formed a partnership with UK software specialist AVEVA Group Plc to accelerate the adoption of the latter’s cloud software solutions across the production facilities of Shell’s Global Solutions International as part of its digital transformational strategy.
Shell will install the software firm’s Engineering Data Warehouse technology to form a common digital network across engineering, operations and maintenance. The technology will also deliver reliable information in context from a single source to policymakers across the key responsibilities, while maintaining industrial workers’ safety.
Since AVEVA’s technology is increasingly being recognized as a globally demanding agent of change regarding engineering and industrial software, Shell believes that the state-of-the-art technology will ensure instantaneous improvements for its manufacturing activities. This will enable Shell to improve asset reliability, enhance efficiency and minimize unplanned leisure. The cloud software solution will also provide relevant insights directly from the site operator to the asset leadership team.
Per Johan Krebbers, vice president at Shell’s IT Innovation, the oil major is already receiving benefits from the collaboration with AVEVA for the digital transformation as the current prevailing situation demands remote access to monitor, manage and optimize production facilities. This allowed Shell to carry forward the activities, remotely resulting in smooth access to the necessary applications to provide insights, guidance and tools for a safe, effective and steady productive output.
On its part, Shell aims to ensure frontline industrial laborers’ safety, with continuous service and operational resilience.
Company Profile & Price Performance
Shell is one of the primary oil supermajors — a group of U.S. and Europe-based big energy multinationals — with global operations. The company is fully integrated, as it participates in every aspect related to energy — from oil production to refining and marketing. Its shares have outperformed the industry in the past month. Its shares have gained 1.6% against the industry’s 6.9% decline.
Zacks Rank & Stocks to Consider
Shell currently carries a Zack Rank #3 (Hold). Some better-ranked players in the energy space are Equitrans Midstream Corporation ETRN,Sunoco LP SUN and DCP Midstream Partners LP DCP, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, the Zacks Consensus Estimate for 2020 earnings for Equitrans Midstream has been raised by 18.8%.
Sunoco is expected to see earnings growth of 52.3% in 2021, whereas DCP Midstream is likely to see earnings growth of 169.1% in 2021.
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