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Nigeria’s crude oil revenue looks set to decline as Royal Dutch Shell Plc halted crude shipments from the country’s Forcados export terminal amid falling oil production. Bloomberg reported on Wednesday that Shell Petroleum Development Company of Nigeria Limited issued a notice of force majeure on Forcados shipments, effective from midday on Tuesday, and planned to issue a revised offtake programme in due course. More than 200,000 barrels per day of Nigerian crude normally pass through the terminal, according to the report. The shutdown comes just a month after Shell said it was restoring flows from the nearby Bonny facility. Force majeure is a clause that allows companies to skip contractual obligations following issues outside of their control. The stoppage occurred during replacement of one of the two single point moorings at Forcados, with the positioning of a jack-up barge preventing tanker access, export operations and resumption of full production into the terminal, Nigerian National Petroleum Company Limited was quoted as saying in a notice. The presence of the jack-up offshore support vessel Seacor Strength at the Forcados moorings was confirmed by ship tracking data monitored by Bloomberg. According to the report, neither NNPC nor Shell gave an indication of the likely duration of the stoppage.
RIO DE JANEIRO (Reuters) – France’s TotalEnergies, Royal Dutch Shell, Malaysia’s Petronas and Qatar Energy on Friday scooped up big offshore fields in Brazil together with state-owned Petrobras, paying nearly $2 billion to its cash-strapped government. While TotalEnergies (28%), Qatar Energy (21%) and Petronas (21%) made the top offer for Sepia field, Petrobras, formally Petroleo Brasileiro SA, later entered the consortium by exercising preference rights to take a 30% stake. Petrobras (52.5%), Shell (25%) and Total (22.5%) secured the nearby Atapu field.
Cape Town Dec. 06 Royal Dutch Shell's plans to explore for oil along a stretch of pristine coastline raised the ire of local activists on Sunday as hundred gathered on beaches around South Africa, calling for the oil giant to stop prospecting.
It is very much a feature of the media that some of the most important stories get the least attention – t'was ever thus. But the news that Royal Dutch Shell had scrapped plans to develop the North Sea Cambo oilfield is a major event. Reuters noted that the field, situated off the Shetland Isles, had become a "lightning rod" for climate activists who had been seeking to halt all development of oil and gas resources. And now, it looks as if Shell has given up the unequal struggle.
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.