Post Tagged with: "shell"

ConocoPhillips Makes Large Oil Discovery Offshore Norway

ConocoPhillips Makes Large Oil Discovery Offshore Norway

OilPrice

ConocoPhillips has made a large oil discovery in the Norwegian Sea close to a producing oilfield, the U.S. oil and gas company said on Tuesday.

Preliminary estimates point to the field containing between 75 million barrels and 200 million …

FG, Shell, Agip lose bid to stop Abacha’s suit to reclaim Malabu’s OPL 245

FG, Shell, Agip lose bid to stop Abacha’s suit to reclaim Malabu’s OPL 245

Shell 

A Federal High Court in Abuja has rejected moves by the Federal Government, Shell Nigeria Exploration, Nigeria Agip Exploration Company and others to prevent the hearing of a suit seeking to reclaim the Oil Prospecting License (OPL) 245 originally …

December 22, 2020 - 1:42 pm Exploration and Production (E&P)
Source: Reuters

Shell to write down assets again, taking cuts to more than $22 billion

Reuters


LONDON – Royal Dutch Shell on Monday said it will write down the value of oil and gas assets by $3.5 billion to $4.5 billion following a string of impairments this year as it adjusts to a weaker outlook.…

Source: Reuters

Special Report-How oil majors shift billions in profits to island tax havens

Reuters


Bermuda and the Bahamas aren’t exactly big players in the oil-and-gas world. They don’t produce any of the fuels at all. Yet the islands are deep wells of profit for European oil giant Royal Dutch Shell Plc.

In 2018 …

December 9, 2020 - 12:00 pm Closing Bell Story‎, Crude Oil News, Energy News, Finance
Source: Reuters

Exclusive: Shell eyes stake in Nayara’s $9 billion Indian petchem project, source says

Reuters


NEW DELHI/MOSCOW  – Oil major Royal Dutch Shell (RDSa.L) plans to buy a 50% stake in Indian-based Nayara Energy’s up to $9 billion planned petrochemical project, a source familiar with the matter said.

Global oil majors are …

Source: CNBC

Shell’s second-quarter profit slumps 82% on coronavirus hit to oil prices, energy demand

CNBC


Oil giant Royal Dutch Shell on Thursday reported a sharp drop in net profit for the three months through to the end of June, following an unprecedented period of energy market turmoil and significantly weaker oil and gas prices.

July 30, 2020 - 10:45 am Closing Bell Story‎, Earnings, Energy News
Source: Reuters

Global recovery unlikely to be v-shaped, says Shell chief

Reuters


LONDON  – The global economy will not achieve a v-shaped recovery after the coronavirus epidemic, which will curtail oil and gas demand for years, Royal Dutch Shell’s (RDSa.L) chief executive said.

Ben van Beurden told an online …

July 16, 2020 - 12:00 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: NPR

U.S. oil M&A activity rises in second quarter on Appalachian gas deals: Enverus

Reuters


Dealmaking activity in the U.S. oil patch improved in the second quarter, after a subdued start to the year, helped by deals targeting assets in the gas-rich Appalachian region, according to data from oil and gas analytics firm Enverus.…

Source: Reuters

Shell to cut asset values by up to $22 billion after coronavirus hit

Reuters


LONDON – Royal Dutch Shell (RDSa.L) plans to slash the value of its oil and gas assets by up to $22 billion after the coronavirus crisis hit demand for fuel and weakened the outlook for energy prices, …

June 30, 2020 - 9:30 am Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Shell weighs sale of $2 billion-plus stake in Queensland LNG facilities

Reuters


MELBOURNE/SYDNEY – Royal Dutch Shell (RDSa.L) is considering raising more than $2 billion from the sale of a stake in the common facilities at its Queensland Curtis LNG plant in Australia, according to a sale flyer reviewed …

Source: Reuters

Exclusive: China snaps up Russia’s expensive Urals oil in thirst for sour barrels

Reuters


MOSCOW  – China’s refiners have purchased a quarter of Russia’s Urals oil exports planned for June in the Baltic despite record high premiums for the grade due to a lack of sour barrels as result of the OPEC+ output …

Source: Reuters

Shell evacuates foreign staff from Iraq’s Basra Gas project: executives

Reuters


BASRA, Iraq – Royal Dutch Shell (RDSa.L) evacuated some 60 foreign staff from Iraq’s Basra Gas Company as a security measure following a protest over delayed pay, company officials said on Thursday, adding production was unaffected.

The …

Source: Reuters

Coronavirus widens climate rift between European and U.S. oil majors

Reuters


LONDON – Europe’s top oil and gas companies have diverted a larger share of their cash to green energy projects since the coronavirus outbreak in a bet the global health crisis will leave a long-term dent in fossil fuel …

Shell CEO Ben van Beurden

Updated: Shell cuts dividend for first time since 1940s in ‘prudent’ move to bolster finances

Energy Voice


Shell has opted to cut its dividend by two-thirds in response to the recent slump in oil prices and “significant” mid and long-term market uncertainty. The Anglo-Dutch giant will pay out 12.8p (16c) in the first quarter, down …

Source: Reuters

Graphic: Oil majors cut 2020 spending by 22% after prices slump

Reuters


LONDON- The world’s biggest oil and gas companies are cutting spending this year following a collapse in oil prices driven by a slump in demand because of the coronavirus crisis and a price war between top exporters Saudi Arabia …

Source: Houston Chronicle

Energy Transfer to proceed with Lake Charles LNG alone after Shell exits project

Houston Chronicle


Dallas pipeline operator Energy Transfer will proceed with the proposed Lake Charles LNG export terminal alone after European oil major Shell has decided to exit the multibillion project.

Shell announced Monday that company will continue to support Energy …

March 30, 2020 - 10:30 am Closing Bell Story‎, Energy News, LNG
Shell exits proposed Lake Charles LNG project

Shell exits proposed Lake Charles LNG project

HOUSTONMarch 30, 2020 /PRNewswire/ — Given current market conditions, Shell announces today it will not proceed with an equity interest in the proposed Lake Charles LNG project. Accordingly, Energy Transfer will take over as the project developer.

March 30, 2020 - 10:30 am LNG, Press Releases
Source: Reuters

Shell, other oil companies seek less Saudi crude in April due to weaker demand -sources

Reuters


Several European and Nordic oil refiners are taking less crude from Saudi Arabia in April, industry sources said, suggesting a lack of demand for the extra supplies the country has offered as it seeks to boost market share.

The …

Source: Reuters

Shell cuts 2020 spending by $5 billion, suspends share buyback

Reuters


LONDON – Royal Dutch Shell (RDSa.L) will lower spending by $5 billion and suspended its vast $25 billion share buyback plan in an effort to weather the recent collapse in oil prices, it said on Monday.

The …

Source: Reuters

Shell eyes tankers for oil floating storage after price collapse

Reuters


LONDON – Royal Dutch Shell is in talks to charter at least three supertankers to store crude oil at sea as traders brace for a sharp rise in global stocks after OPEC and its allies abandoned a production cut …

Source: Houston Chronicle

Shell plans major drilling in Mexico, but oil may take years

Houston Chronicle


Royal Dutch Shell Plc is pushing ahead on its massive deep-water drilling plan in Mexico, even as it doesn’t foresee production starting under the current government.

The global oil major plans to drill four wells this year, and …

February 26, 2020 - 11:00 am Closing Bell Story‎, Crude Oil News, Energy News, Mexico
Qatargas signs LNG SPA with Kuwait

Qatargas signs LNG SPA with Kuwait

LNG Industry


Qatargas has announced the signing of a new, long term LNG sale and purchase agreement (SPA) with Shell to deliver 1 million tpy of LNG to the State of Kuwait, commencing this year.

Qatargas signs LNG SPA with Kuwait -oilandgas360Commenting on the signing of …

February 11, 2020 - 6:31 am Closing Bell Story‎, International, LNG
Source: CNBC

Shell’s new solar farm to help power a natural gas plant in Australia

CNBC


Shell Australia is set to construct and operate a solar farm made up of around 400,000 photovoltaic panels in the state of Queensland.

In an announcement Friday, Shell Australia described the facility as its “first large-scale solar farm” and

Source: Reuters/Christopher Pike

Oil is our gold and we aim to use all of it, ADNOC official says

Reuters:


Abu Dhabi National Oil Co aims to exhaust its vast oil and gas reserves even as many consumers switch to cleaner sources of energy, a senior executive in the Gulf oil company said.

The world’s transition away from fossil …

Canada’s Largest Oil Producer Joins Opposition to Enbridge Pipeline Plan

Canada’s Largest Oil Producer Joins Opposition to Enbridge Pipeline Plan

From Reuters


Canadian Natural Resources Ltd, the country’s biggest oil producer, has joined a number of other firms asking Canada’s energy regulator to intervene in Enbridge Inc’s plan to overhaul shipping contracts on its Mainline pipeline network.

Canadian Natural’s letter …

An Oryx Midstream facility (source: Oryx Midstream Services)

Qatar May be Losing the Top Spot as World’s Biggest LNG Exporter

From CNBC


Qatar will lose its title as the world’s largest exporter of liquefied natural gas (LNG) within the next year, as Australia ramps up production on a slew of multi-billion dollar export projects.

“Australia and Qatar continued to jostle …

UPDATE: Venture Global Announces Final Investment Decision for Calcasieu Pass LNG

UPDATE: Venture Global Announces Final Investment Decision for Calcasieu Pass LNG

UPDATE: Venture Global Announces Final Investment Decision and Financial Close for Calcasieu Pass LNG...

Source: Venture Global LNG

Venture Global Closes on Project Financing for Calcasieu Pass LNG

By Tyler Losier, Energy Reporter, Oil & Gas 360

Proceeds from Venture Global’s debt and equity financing will fully fund the construction and commissioning of its Calcasieu Pass LNG facility
Venture Global LNG Inc., headquartered in Arlington, Virginia, has closed

Chevron Starts Burying CO2 off Australia at Huge Gorgon Storage Project

Chevron Starts Burying CO2 off Australia at Huge Gorgon Storage Project

From Reuters


Chevron Corp (CVX.N) said on Thursday it has launched one of the world’s largest carbon capture and storage projects, injecting CO2 into a deep reservoir under an island off Western Australia at its Gorgon LNG project.

The carbon …

Saudi Aramco Valuation Gap Persists as IPO Talks Resume – Sources

Saudi Aramco Valuation Gap Persists as IPO Talks Resume – Sources

From Reuters


Saudi Crown Prince Mohammed Bin Salman is insisting on a $2 trillion valuation of oil firm Aramco, even though some bankers and company insiders say the kingdom should trim its target to around $1.5 trillion, industry and banking …