Shell Archives - Page 5 of 24

Trinidad’s court reaffirms recognition of ConocoPhillips’ claim against Venezuela

July 19, 2024

Yahoo Finance Trinidad and Tobago’s High Court reaffirmed on Thursday a decision recognizing U.S. oil producer ConocoPhillips’ arbitration claim against Venezuela, which could freeze the Caribbean country’s payments to its neighbor for joint natural gas projects. In late May, the court’s original decision opened the door for ConocoPhillips to enforce in that country a $1.33 billion claim against Venezuela for

Shell begins Perdido evacuation as Hurricane Beryl threatens operations

July 3, 2024

Oil Price Shell announced on Wednesday that it had safely paused some drilling operations in the Gulf of Mexico as Hurricane Beryl was preparing to deliver a massive blow to Jamaica, Reuters reported, noting that so far no impact on GOM production had been noted. On Wednesday, Shell said it had begun evacuating non-essential crew at its Perdido asset in

The duo atop the biggest and most contentious US LNG exporter

June 11, 2024

BOE Report U.S. liquefied natural gas (LNG) exporter Venture Global LNG this year became one of the country’s largest producers of the superchilled gas and the industry’s most contentious supplier, facing contract claims by six customers. The duo who founded the company, co-chairs Michael Sabel and Robert Pender, have turned the booming business upside down through strong contracts, good timing

Oil price plunge hits BP and Shell shares

June 4, 2024

Oil Price The slump in oil prices so far this week has dragged down shares in the top UK-based oil and gas supermajors, Shell and BP, with their stock falling on Tuesday and pushing London’s main FTSE 100 index in the red. As oil prices fell by more than 3% on Monday and continued to drop early on Tuesday, shares

World’s top sovereign wealth fund seeks more climate disclosure from Shell

May 17, 2024

Oil Price Norway’s $1.66-trillion sovereign wealth fund, the world’s biggest, is encouraging UK-based supermajor Shell to shed more light on its eased climate targets. The fund, which is commonly referred to as ‘Norway’s oil fund’ because it was created with oil and gas revenues, is a shareholder in many large companies in the world, including Big Oil, and has the

Shell smashes forecasts with $7.7 billion quarterly profit

May 2, 2024

Yahoo Finance LONDON -Shell reported first-quarter profit of $7.7 billion on Thursday, exceeding expectations as disruption to Red Sea shipping and Russian refining boosted oil trading and liquefied natural gas production rose. The company said it will buy back a further $3.5 billion of its shares over the next three months, at a similar rate to the previous quarter. Its

U.S.-listed international oil and gas companies benefit from “friendlier” investor base, former Shell CEO says

April 9, 2024

World Oil (Bloomberg) – International oil companies listed in the U.S. benefit from higher multiples, greater access to capital and a friendlier investor base, according to Shell Plc’s former chief executive officer. “It’s a major issue,” Ben van Beurden said when discussing the valuation gap between European and North American oil and gas players at the FT Commodities Global Summit

Shell sees significantly lower Q1 LNG trading results

April 5, 2024

Investing LONDON -Shell said on Friday it expects significantly lower results from its liquefied natural gas trading business in the first quarter of 2024 compared with the previous three months. In an update ahead of quarterly results on May 2, Shell (LON:RDSa) also said its oil trading results are expected to be significantly higher than the last quarter of 2023. Shell, the world’s

Support for energy transition will wane if people can’t afford energy, Shell lawyer says in Dutch climate case

April 2, 2024

World Oil (Bloomberg) – Support for the energy transition will wane if ordinary citizens aren’t able to keep the lights on, a lawyer for Shell Plc argued as a crucial climate case got underway. Lawyers for Shell said on the first day of the appeal in The Hague that a 2021 ruling ordering the oil and gas giant to slash

Shell sells interest in U.S. offshore wind joint venture as company refocuses on oil and gas

March 25, 2024

World Oil (WO) – Shell New Energies US LLC has sold its 50% equity share in SouthCoast Wind Energy LLC to joint venture partner Ocean Winds North America LLC. SouthCoast Wind is a 50-50 joint venture between Shell and Ocean Winds, established to develop offshore wind projects off the coast of Massachusetts. “In-line with our Powering Progress strategy, Shell continues

Shell considers slowing its carbon emissions cuts

March 12, 2024

Yahoo Finance UK-based supermajor Shell has been updating its strategy on climate targets and could announce a slower pace of its emissions reductions later this week, anonymous sources with knowledge of the discussions have told Bloomberg. Shell is set to announce an update to its energy transition strategy on Thursday, March 14. The oil and gas major has been considering slowing

Shell’s LNG trading head to step down weeks after posting $2.4 billion profit

March 11, 2024

Oil Price Just weeks after posting $2.4 billion in trading profits from liquefied natural gas (LNG) in the fourth quarter of last year, the long-time head of Shell’s LNG, natural gas and power trading unit, Steve Hill, is stepping down, the supergiant announced on Monday. Hill will officially step down from his position as head of Shell Energy on March

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