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 and Russia. Cuts announced by nine major oil companies, including Saudi Aramco, Exxon Mobil and Royal Dutch Shell, come to
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 Transfer with the bidding process for a general contractor but will then exit the project in a phased handover. The
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.
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 world’s top oil exporter is planning to boost exports sharply after a three-year supply-cut deal between the Organization of the
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 Anglo-Dutch oil major said it would reduce capital expenditure to $20 billion or below from a planned level of about $25 billion
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 deal, shipping sources said on Wednesday. Shell has provisionally booked three 2 million barrel vessels, known as very large crude
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 a similar amount next year, said Alberto de La Fuente, Shell’s Mexico country chief. It’s part of a drilling campaign
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. Commenting on the signing of the SPA, Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs, said, “We are pleased to announce this new
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 said it would have a capacity of 120 megawatts. Work on the project is set to finish in 2021, with
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 fuel in an effort to slash greenhouse gas emissions is expected to accelerate in coming decades, leaving many oil companies
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 to the National Energy Board (NEB), filed late on Monday, calls on the regulator to delay Enbridge’s proposal to switch
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 for the title of the world’s largest LNG exporter over the first five months of 2019,” the Australian government said
