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Oil major Royal Dutch Shell and ExxonMobil have taken on lease offshore block for 30 years. The companies have paid Somalia $1.7 mn as the preliminary rent. According to the information from Shell, these charges are for retrospective charges. Also, the operation will be withheld in what is known as force majeure.
In an unfortunate event on Sunday morning, two crew members at the Shell Auger Tension Leg Platform were killed during a routine test. A Shell spokesperson informed that the accident happened while crews were performing a mandatory test of the lifeboat launch at the rig in the Gulf of Mexico. Apart from the two killed during the accident, another one was hospitalized with non-life threatening injuries.
Canadian energy firm, Pieridae Energy has agreed to buy out Shell Canada’s gas assets in Alberta for $144.77 million. The deal will gain Pieridae the ownership to Shell’s midstream and upstream assets in Alberta, apart from three sour gas plants. Shell’s Alberta assets produce 29,000 barrels of natural gas, natural gas liquids and condensate. The acquisition secures for Pieridae the remaining supply needed for the proposed Goldboro LNG plant.
A deal was signed between Shell and Augean North Sea Services (ANSS) in January. As a part of that deal, Shell's Curlew vessel has arrived in Dundee for cleaning and waste disposal. “This is a significant project for Augean and the port and clearly demonstrates the unrivalled capability of our infrastructure and the supply chain", said the Chief Operating Officer at Forth Ports.
Cyprus struck a gas production deal worth $9 billion after Nicosia renegotiated a contract with Noble, US based Shell, and Israel’s Delek for exploiting its Aphrodite gas field. The agreement also involves the transfer of natural gas by underwater pipeline to the Idku LNG terminal in Egypt. According to the Energy Minister Giorgos Lakkotropis, this deal is expected to bring in approximately $9.4 billion for the agreed 18-year contract.
Initial tests on Shpirag 4 well of Shell in central Albania showed "a flow potential of several thousand barrels of oil per day". Shell has informed that it is yet to determine the commercial volume of the well. Shell's Executive VP of exploration said, "We are pleased that these initial tests have confirmed the potential of this discovery and look forward to growing our business in Albania".
Oil and gas group, BP's annual shareholder meeting on Tuesday was disturbed by the protestors. “this is a crime scene” was the frequent noise disrupting the meeting. Shell, on the other hand, has been praised by the investors for its recent emissions policies. Both the companies are working with the shareholders to meet the 2015 Paris climate agreement. BP's overall carbon emission were the highest in 2018 in six years.
According to the recent analysis by GlobalData, Shell has a major decommissioning cost in UK, an approximate total of more than $3billion. The list was revealed by the firm with Shell topping the list, followed by Apache, Total, ExxonMobil and BP. Further, Shell is planning to spend $1.5bn on decommissioning in the North Sea over the next six years.
Awilco Drilling is a Westhill-based firm which has been awarded contract extension with Shell. The company has been rewarded decommissioning contract extension and now will also be covering the abandonment of five further wells. This contract is valid until Q1 2020. The initial contract for the WilPhoenix rig was for 18 wells and was expected to be worth £30 million.
Shell's unit Shell Offshore Inc informed on Wednesday that it has made a discovery at Blacktip in the deep water U.S. Gulf of Mexico. The Upstream Director of the energy giant Shell commented, "Blacktip is Shell’s second material discovery in the Perdido Corridor and is part of a continuing exploration strategy to add competitive deep water options to extend our heartlands".
Energy giant Shell has informed about its ongoing talk with BP to procure its Shearwater oil and gas field stakes in the British North Sea. The cost of acquisition will be $250 million. In Shearwater, Shell holds 28% stake, BP has 27.5% and the remaining 44.5% stakes are held by ExxonMobil. The gas export capacity of Shearwater at the time of peak production is expected to be 70,000 boped.
The acquisition of one of the biggest oil fields in the West African country in 2011 has now been surrounded by controversy. A court in Nigeria has ordered the arrest of two former ministers and others allegedly connected with the deal's illegal payments. Parties to the transaction, Shell and Eni are accused of settling the dispute over the oil field in an unlawful manner.
According to the sources, India's Reliance Industries Limited and Royal Dutch Shell are planning to exit the Panna-Mukta oilfields. Their contract with the government will expire this year. Currently, both the companies hold 30% participating interest in the field and another 40% is owned by the state-run ONGC. After the two companies will leave the field, the task of managing these depleting fields will go to ONGC.
Energy major, Royal Dutch Shell has decided to leave a Baltic LNG project which is led by Russia's Gazprom. This will pose a challenge for the Russian state gas major to take forward this project with limited access to Shell's technology and no funds from the Anglo-Dutch company. Shell has taken this decision after witnessing the struggle of Western firms to expand because of the pressure of US sanctions.
China is making efforts to penetrate into massive unconventional resources and is developing its shale gas assets. As a part of this initiative, oil major Shell has signed an agreement with Sinopec to study an East China block. Presently, shale oil makes up to only 1% of the nation's crude output. Sinopec has now put its hope on Shell's expertise in shale oil exploration for the development of China's resources.
In order to meet carbon emission targets, oil giant Shell has designed a range of Europe-wide plans worth £230m. The programme will start from this year as a part of Shell's three-year target in order to reduce its Net Carbon Footprint by 2% – 3%. The energy major will also invest in the creation of a 300-hectare forest project in Spain. "Shell will play its part", emphasized the firm's CEO.
The steps taken by Shell to reduce carbon footprint has made an investor group "Follow This", withdraw its filing for 2019. Initially, the activist shareholder filed climate change resolutions for three years in order to pressurise Shell. Follow This' founder informed that after “intensive discussions with the investors who have voted for our resolution in the past”, the company has decided to pull back its filing.
According to the sources, Chevron has closed some of its oil production facilities in the Gulf of Mexico. Chevron has taken this step after the operator, Shell Pipeline Company shut down its almost 350,000 bpd Amberjack pipeline system. Amberjack connects the fields of the Gulf of Mexico to the Texas and Louisiana Gulf Coast refiners. The facilities shut down by Chevron include Jack/St. Malo, Tahiti, Big Foot and Genesis.