Post Tagged with: "shell"
FG, Shell, Agip lose bid to stop Abacha’s suit to reclaim Malabu’s OPL 245
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 …
Shell to write down assets again, taking cuts to more than $22 billion
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.…
Special Report-How oil majors shift billions in profits to island tax havens
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 …
Shell’s second-quarter profit slumps 82% on coronavirus hit to oil prices, energy demand
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.
U.S. oil M&A activity rises in second quarter on Appalachian gas deals: Enverus
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.…
Exclusive: China snaps up Russia’s expensive Urals oil in thirst for sour barrels
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 …
Coronavirus widens climate rift between European and U.S. oil majors
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 …
Updated: Shell cuts dividend for first time since 1940s in ‘prudent’ move to bolster finances
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 …
Graphic: Oil majors cut 2020 spending by 22% after prices slump
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 …
Energy Transfer to proceed with Lake Charles LNG alone after Shell exits project
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 …
Shell exits proposed Lake Charles LNG project
HOUSTON, March 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.
…
Shell, other oil companies seek less Saudi crude in April due to weaker demand -sources
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 …
Shell eyes tankers for oil floating storage after price collapse
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 …
Shell plans major drilling in Mexico, but oil may take years
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 …
Qatargas signs LNG SPA with Kuwait
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.
Commenting on the signing of …
Shell’s new solar farm to help power a natural gas plant in Australia
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
Oil is our gold and we aim to use all of it, ADNOC official says
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
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 …
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 …
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
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 …
