Shell NEWS

Shell CEO Wael Sawan sees “very robust” demand for oil and gas in the near and medium term, he told CNBC’s “Squawk Box” on Wednesday. British energy giant Shell is boosting its oil and gas production to book profits in the near term. It’s also building out electric vehicle charging stations across Asia.

New Shell chief Wael Sawan has shown his hand at the supermajor with a long-anticipated strategy shift confirmed today.

First published in 2022, the ban concerns a poster seen in Bristol in southwest England, a TV ad and a video posted on Shell’s YouTube channel.

Shell Plc (SHEL.L) will use AI-based technology from big-data analytics firm SparkCognition in its deep sea exploration and production to boost offshore oil output, the companies said on Wednesday.

Supermajor repurchase additional shares in second quarter, bringing total shareholder distributions for first half of 2023 to $12 billion

Brazilian oil giant Petrobras is preparing a pilot project for the capture and storage of industrial carbon dioxide emissions and is looking to build partnerships for the country's first full-scale CCS hub.

UK supermajor Shell has awarded the Serikandi Kent Energy Solutions joint venture a five-year commissioning and start-up services contract for its activities in Brunei Darussalam.

The UK’s production of oil and natural gas could be at risk from strike action in the coming weeks, according to the Unite union.

Sarawak Shell Berhad (SSB), a subsidiary of Shell plc, has completed the sale of its stake in two offshore production sharing contracts (PSC) in the Baram Delta to Petroleum Sarawak Exploration & Production Sdn. Bhd. (PSEP).

UK supermajor Shell and Brazil’s state-owned Petrobras have agreed to collaborate on identifying new upstream business, decarbonisation opportunities and social and environmental initiatives.

Shell Salym Development B.V. – a subsidiary of Shell plc – has completed the withdrawal from its 50% interest in the Salym project. The petroleum project had been jointly developed with Gazprom Neft, a subsidiary of Gazprom. This follows the receipt of all necessary regulatory approvals.

Shell said on Thursday surging demand for oil products that had almost tripled refining profits in the second quarter would boost earnings by up to $1.2 billion. In an update before second quarter results on July 28, Shell also said it would reverse up to $4.5 billion in write downs on oil and gas assets after it raised its energy prices outlook following Russia's invasion of Ukraine. Earnings from oil and refined products trading were expected to be strong in the quarter but lower than the first quarter of 2022, Shell said.

Shell said on Thursday surging demand for oil products that had almost tripled refining profits in the second quarter would boost earnings by up to $1.2 billion. In an update before second quarter results on July 28, Shell also said it would reverse up to $4.5 billion in write downs on oil and gas assets after it raised its energy prices outlook following Russia's invasion of Ukraine. Earnings from oil and refined products trading were expected to be strong in the quarter but lower than the first quarter of 2022, Shell said.

The UK’s two biggest listed oil companies will face an odd dilemma this week as they present what is likely to be their best set of results for years while facing calls to cough up more in tax.

The London-listed company is in joint talks with Chinese state-run oil companies CNOOC Ltd, CNPC and Sinopec over its 27.5 per centholding in the Sakhalin-2 liquefied natural gas venture, the British newspaper said.

The French oil major, which holds a 19.4% stake in Novatek, Russia's largest producer of liquefied natural gas, said it "will no longer provide capital for new projects in Russia".

LNG prices lurched from record lows under $2 per mmBtu in 2020 to record highs of $56 in October 2021 as markets struggled to keep pace with global economies recovering from the pandemic.

Mantashe said the pausing of operations in SA’s biggest refinery, SAPREF, will cause job losses and uncertainty of supply. Mineral Resources and Energy Minister, Gwede Mantashe has called Shell and Beyond Petroleum (BP) greedy and arrogant for pausing refinery operations at SAPREF, their Durban-based facility.