Reuters LONDON/NEW YORK – Royal Dutch Shell is reviewing its holdings in the largest U.S. oil field for a potential sale, people familiar with the matter told Reuters, marking a key moment in its shift away from fossil fuels as it faces growing pressure to slash carbon emissions. The sale could be for part or all of Shell’s position in
Reuters Royal Dutch Shell (RDSa.L) was still evaluating plans for an idled Louisiana oil refinery, the company said on Monday, after a Baton Rouge investor said over the weekend his $1.25 billion offer was not accepted. American Clean Energy Refining LLC (ACER), based in Baton Rouge, submitted two bids for the refinery, the first last December, Chief Executive George R. Dabbs told
Fox Business HOUSTON/MEXICO CITY – Royal Dutch Shell agreed on Monday to sell its controlling interest in a Texas refinery to partner Petroleos Mexicanos (Pemex) for about $596 million, the latest move by the European oil major to cut its global refining footprint. The deal makes the Deer Park, Texas, facility the first foreign refinery that Mexico’s state-run oil company
Reuters LONDON -Royal Dutch Shell has agreed to sell its stake in an offshore gas field in the Philippines for $460 million as part of its strategy to narrow its oil and gas operations. Shell sold its 45% stake in Service Contract 38 (SC38), a deep water licence which includes the producing Malampaya gas field, to a subsidiary of the
Reuters LONDON – Royal Dutch Shell’s 2020 earnings from trading crude oil and refined products doubled from the previous year to $2.6 billion, helping to offset a sharp drop in fuel demand due to the coronavirus pandemic. Shell’s oil trading operations, known internally as Trading & Supply, accounted for 43% of the Oil Products division’s total earnings of $5.995 billion
Reuters LONDON – Royal Dutch Shell, owner of the world’s largest fuel retail network, said on Thursday its total greenhouse gas emissions dropped 16% in 2020 as oil and gas sales fell sharply due to the coronavirus pandemic. hell said in its annual report that total emissions from its oil wells to forecourt fuel sales fell to 1.38 billion tonnes
Reuters HOUSTON – Royal Dutch Shell Plc pushed back the restart of its 318,000 barrel-per-day (bpd) joint-venture Deer Park, Texas, refinery to March 13, said sources familiar with plant operations on Monday. Shell spokesman Curtis Smith declined comment. Shell had planned to restart the 270,000-bpd DU-2 crude distillation unit (CDU), the largest at the refinery, by early this week, the
Reuters LONDON – Global liquefied natural gas (LNG) demand is expected to almost double to 700 million tonnes by 2040, Royal Dutch Shell said in its annual LNG market outlook. Demand was 360 million tonnes last year, up slightly from 2019’s 358 million tonnes, despite volatility caused by lockdowns during the coronavirus pandemic. Global LNG prices hit a record low
Reuters LONDON – Energy giant Royal Dutch Shell vowed to eliminate net carbon emissions by 2050, raising its ambition from previous targets, as its oil output declines from a 2019 peak. The Anglo-Dutch company is in the midst of its largest overhaul yet as it prepares to expand its renewables and low-carbon business in the face of growing investor pressure
Reuters LONDON – Royal Dutch Shell is betting on its expertise in power trading and rapid growth in hydrogen and biofuels markets as it shifts away from oil, rather than joining rivals in a scramble for renewable power assets, company sources said. Shell and its European rivals are seeking new business models to reduce their dependency on fossil fuels and
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 barrels of recoverable oil equivalent, ConocoPhillips said, adding that additional appraisal would determine the flow rates and the ultimate resource discovery, as
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 awarded to Malabu Oil and Gas Limited. The suit, marked: FHC/ABJ/CS/201/2017 was filed in the name of Malabu Oil and
