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Royal Dutch Shell will not raise salaries for most of its employees this year as it looks to save cash amid an overhaul of the company. There will be as many as 9,000 job losses over the next two years, with cuts already announced in Netherlands, UK and Malaysia. In July, Chief Financial Officer Jessica Uhl told analysts that halted bonus payouts would save the company about $1billion.
Hungary inks a deal to buy 250 million cubic metres of liquefied natural gas per year from Royal Dutch Shell for six years. It’s Hungary’s first long-term deal with a western company. It will secure 10% of it’s supply from the west. Before, Hungry has relied mostly on Russian gas and has never had a long-term supply agreement with any supplier other than Russia’s Gazprom.
Royal Dutch Shell Plc shut on Saturday the gasoline-producing fluidic catalytic cracker at its 318,000 barrel-per-day joint-venture Deer Park, Texas, refinery after a fire, sources familiar with plant operations said on Sunday. All individuals were safe and accounted for at the Shell Deer Park Complex, which includes the refinery and adjoining chemical plant. The Deer Park refinery is a 50-50 joint venture between Shell and Pemex, Mexico’s national oil company.
China National Offshore Oil Corp, or CNOOC, will buy two cargoes of LNG with offset carbon emissions from Royal Dutch Shell, thus marking China's first gas imports of this kind. The companies will use carbon credits won in projects in China's northwest Xinjiang and Qinghai region to offset the carbon emissions involved in producing and consuming the two gas cargoes. The two cargoes will be auctioned at the Shanghai exchange.
Donning face masks and abiding by social distancing guidelines because of the coronavirus pandemic, climate activists gathered at Royal Dutch Shell's headquarters in The Hague Tuesday during the oil giant's annual shareholders meeting to declare that "Shell must fall." Shell and its investors must now take responsibility," Greenpeace biologist Helena Spiritus told Reuters. "Shell has earned billions from oil exploitation, now these dirty investments must come to an end."
Equinor, Total and Shell intend to set up a joint-venture company and initially invest close to NOK 6.9 billion (USD 682.3m/EUR 629.4m), with some 57% of the amount going to Norwegian contractors. Northern Lights is part of the Norwegian full-scale CCS project which will include capturing carbon dioxide (CO2) from up to two industrial plants.
China National Offshore Oil Corporation (CNOOC), the largest offshore oil and gas producer in China, and Royal Dutch Shell, the world's leading energy and petrochemical conglomerate, signed a strategic cooperation framework agreement worth 5.6 billion U.S. dollars on Sunday. The new cooperation, based on the CNOOC and Shell Petrochemical Company Limited, is the CNOOC and Shell Huizhou phase III ethylene project.
Oil supermajor, Royal Dutch Shell yesterday outlined one of the most extensive strategies yet in the oil and gas sector to drop greenhouse gas emissions to net-zero by 2050. As Shell plans to fully counterbalance carbon emissions from its own oil and gas production and the energy it uses by 2050, the company added that it will “pivot towards serving businesses and sectors that by 2050 are also net-zero emissions,”
Energy major Shell denied Russian Arctic oil JV with Gazprom, Meretoyakha Neftegaz. This decision has been taken keeping in mind the falling investment in the energy sector projects and fragile crude demand. Shell said, "Due to challenging external environment Shell will not pursue the completion of the deal to create a joint venture on the basis of Meretoyakha Neftegaz".
In the wake of the crash in energy prices, oil supermajor Shell Plc has withdrawn from a major U.S. liquefied natural gas (LNG) export plant under development. The move quickly followed Shell's partner, Energy Transfer postponing its final decision on whether to move forward with the project to next year. Analysts have forecasted a number of under-development projects not moving into execution mode due to sinking energy demand.
A car show in central Brussels met with staged demonstrations from protest group Extinction Rebellion on Sunday, who rallied against the role of auto-industry in CO2 emissions. The protests forced the police to detain 185 protesters, and the show’s security personnel briefly halted admittance to the area. Extinction Rebellion was said to have targeted the show because the car industry told “a lot of lies in order to sell more cars”.
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.