On July 7, Shell rose 3.37% in regular trading, trading at $80.735/share, with turnover of $250 million. The move was driven by the formal announcement of its South Africa downstream divestiture and an upbeat Q2 operational update highlighting downstream margin recovery.

Shell officially confirmed the sale of its Shell Downstream South Africa retail and wholesale fuel business to Abu Dhabi's ADNOC Distribution at an implied enterprise value of $1 billion. The deal encompasses 580 company and dealer-owned fuel stations along with wholesale fuel, aviation fuel, and lubricants operations, with closing expected next year. ADNOC Distribution will enter into a long-term brand licensing agreement to retain the Shell brand for retail stations and lubricants.

Simultaneously, Shell issued a Q2 operational update indicating integrated gas production is expected to decline to 610,000-650,000 barrels of oil equivalent per day, down significantly from Q1's 909,000 boe/d due to Persian Gulf disruptions. However, oil price volatility has powered trading operations into a profit bright spot, with downstream margins recovering sharply to offset production headwinds. Shell's next earnings report is scheduled for July 30, with consensus EPS of $2.51.

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