Shell – Oil & Gas 360

Exxon set to surge ahead of European competitors in low-carbon investment race

April 28, 2025

(Oil Price) – After years of watching Europe’s Big Oil commit growing shares of capex to low-carbon energy solutions, U.S. supermajor Exxon is now set to overtake Shell and BP in investments planned for low-emission projects. Exxon’s pledge largely depends on the Trump Administration not repealing key provisions in Biden’s flagship Inflation Reduction Act of 2022, which offered incentives to companies

BP, Shell, and Exxon signal one thing: Oil isn’t going anywhere

March 31, 2025

(Oil Price) – Ever since BP admitted that its attempt to go green had ended in a disaster, the flow of news from the energy industry has been in one single direction: back to oil and gas, which make money. Indeed, Big Oil has finally accepted it will not transform into Big Green Power and has gone back to what it

Shell CEO seen focusing on LNG as key part of growth strategy

March 25, 2025

(World Oil) – Shell Plc will update its strategy on Tuesday, just a month after rival bp Plc unveiled a fundamental “reset.” Shell CEO Wael Sawan is in the final stages of a two-year effort to shake up Shell by cutting costs, improving reliability and shedding under-performing units. Analysts and investors will be looking for plans for growth at the company’s

Japex shifts focus back to oil and gas exploration

February 20, 2025

(Oil Price) – Japanese oil and gas firm Japex is pivoting back to its core business after seeing poor returns in the renewable energy sector, as it becomes the latest major company to scale back green energy investments. “For now, the investment focus will remain on oil and gas exploration and production… as securing a fair return from renewable energy sources

Shell starts production at Whale in the US Gulf of Mexico

January 9, 2025

(Oil & Gas 360) – January 2025- Houston− Shell Offshore Inc. (Shell), a subsidiary of Shell plc, announced that production has started at the Shell-operated Whale floating production facility in the Gulf of Mexico. Whale replicates the simplified, cost-efficient host design of the Vito platform, which began production in early 2023. The Whale development is owned by Shell Offshore Inc. (60%, operator) and

SLB awarded multi-region contracts by Shell to deploy AI-enhanced deepwater drilling

January 9, 2025

(World Oil) – SLB has been awarded a series of major drilling contracts by Shell to support capital-efficient energy development across its deep- and ultra-deepwater assets in the UK North Sea, Trinidad and Tobago, the Gulf of Mexico and others. The projects, which will be delivered over a three-year timeframe, will combine SLB’s AI-enabled digital drilling capabilities with its expertise in

Shell approves deepwater oil project offshore Nigeria

December 16, 2024

(Oil Price) – Shell’s Nigerian subsidiary has approved the Bonga North deep-water project off the coast of Nigeria, the UK-based supermajor said on Monday, announcing the final investment decision for the development. The Bonga North project will be a subsea tie-back to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility which Shell operates with a 55% interest. The project will sustain

Shell, Equinor join to create UK’s largest independent oil and gas company

December 6, 2024

(World Oil) – Equinor and Shell will combine their UK offshore oil and gas assets and expertise to form a new company which will be the UK North Sea’s biggest independent producer, the companies’ UK subsidiaries have announced. The incorporated joint venture (IJV) will be set up to sustain domestic oil and gas production and security of energy supply in

Galp confirms quality light oil discovery offshore Namibia

December 2, 2024

(Oil Price) – Namibia’s offshore has yielded quality discovery as the African country continues to be an exploration hotspot for international companies. Portugal’s Galp has just successfully drilled and logged the Mopane-1A appraisal well in block PEL83, encountering light oil and gas-condensate in high-quality reservoir-bearing sands. The findings of this third appraisal well are “once again indicating good porosities, high permeabilities, and high

European oil giants commit $500 million to help boost access to energy

November 15, 2024

(Oil Price) – European oil and gas supermajors BP, Equinor, Shell, and TotalEnergies are committing a joint investment of $500 million to help ensure access to affordable, reliable, sustainable, and modern energy for all. The joint investment commitment is part of the energy majors’ efforts to support promising, high-impact projects, primarily in Sub-Saharan Africa, South, and Southeast Asia. These projects are aimed at

Shell's $6 bln profit smashes forecasts as LNG offsets weak refining- oil and gas 360

Shell’s $6 billion profit smashes forecasts as LNG offsets weak refining

October 31, 2024

(Yahoo Finance) – LONDON – Shell reported on Thursday third-quarter profits of $6 billion that exceeded forecasts by 12% as higher liquefied natural gas (LNG) sales offset a sharp drop in oil refining and trading results. The results, together with a drop in debt and strong cash flow, could lift investor confidence in CEO Wael Sawan’s efforts to boost the company’s

Chevron shuts In Gulf of Mexico oil and gas platform ahead of Hurricane Milton

October 7, 2024

(Oil Price) – Chevron has shut in its Blind Faith platform in the U.S. Gulf of Mexico and evacuated all personnel from the facility in preparation for Hurricane Milton, the supermajor said on Monday. “Production from our other Chevron-operated Gulf of Mexico assets remains at normal levels,” Chevron said in a media update as weather services, forecasters, and Gulf of Mexico producers are

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