Shell To Exhaust Dwindling Oil & Gas Reserves By 2040
Shell expects to have produced 75 percent of its current proved oil and gas reserves by 2030, and only around 3 percent after 2040, the supermajor said in its Energy Continue Reading
Shell to Make First Profit From Oil Output Since Pandemic
Royal Dutch Shell Plc said it expects to make the first profit from pumping oil since the start of the pandemic. Shell’s upstream unit, which largely handles the exploration and Continue Reading
As the Shift to Green Energy Speeds Up, Shell’s Big Natural-Gas Bet Is at Risk
Royal Dutch Shell RDS.A 2.33% PLC bet big on natural gas as the energy source of the future when it bought BG Group for $54 billion. Five years later, it appears the gas era won’t Continue Reading
Shell Doubled Its Oil Trading Profits In 2020
Shell doubled its crude and refined products trading profits in 2020 from 2019, with its trading offsetting some of the negative effects of the collapse in refining margins and fuel Continue Reading
Oil Giant Shell Appoints New Chairman to Navigate Energy Transition
Royal Dutch Shell RDS.A -1.01% PLC has appointed Andrew Mackenzie as its new chairman, tapping a mining veteran to oversee the oil and gas giant as it navigates the transition to low-carbon energy. The Continue Reading
Shell outlines steps to net-zero business by 2050; to cut production of traditional fuels 55% by 2030
Global oil and gas major Shell has outlined how it will achieve its target to be a net-zero emissions energy business by 2050, in step with society’s progress towards achieving Continue Reading
Shell Says Its Oil Production Has Peaked
Anglo-Dutch supermajor Shell has reaffirmed its commitment to becoming a net-zero company by 2050, saying that its oil production peaked in 2019 and is set for a continual decline over Continue Reading
Oil Major Total Sees 10 Million Bpd Supply Gap In 2025
France’s supermajor Total is warning that the world could find itself with a shortfall of supply of 10 million barrels per day (bpd) between now and 2025, due to continued Continue Reading
With oil past peak, Shell vows to eliminate carbon by 2050
Energy giant Royal Dutch Shell vowed to eliminate net carbon emissions by 2050, accelerating previous targets, as oil production was set to slowly decline from its 2019 peak. The Anglo-Dutch Continue Reading
Shell’s Falling Oil Output Ends Century-Long Business Model
Royal Dutch Shell Plc said its carbon emissions and oil production have peaked and will decline in the coming years as the company laid out a detailed plan for its Continue Reading
Shell expects 1%-2% annual cut in oil output as energy transition prioritized
Shell expects its oil production to decrease by 1%-2% annually as it prioritizes spending on transition projects in an acceleration of its strategy to achieve net zero emissions by 2050, Continue Reading
Shell Sees Return To ‘Normal’ Oil Demand In 2022
Royal Dutch Shell expects global oil demand to return to some sort of normalcy next year, chief executive Ben van Beurden said on Thursday as the supermajor reported another set Continue Reading
Shell’s profit slides 71% in 2020 as pandemic bites
Royal Dutch Shell’s profit last year dropped to its lowest in at least two decades as the coronavirus pandemic hit energy demand worldwide though the company said it expected to Continue Reading
Shell posts 87% earnings drop yet raises dividend
Royal Dutch Shell raised its dividend despite an 87 percent drop in earnings as the coronavirus pandemic hit energy prices, reduced production and weakened refining margins. For the three months Continue Reading
Shell To Cut UK Jobs As Part Of Global Workforce Reduction
Shell will be cutting 330 jobs from its North Sea operations, mostly office jobs based in Aberdeen, the supermajor said on Tuesday, as carried by the BBC . The Aberdeen Continue Reading
Shell’s 2020 Write Downs Could Soar To $22 Billion
Shell warned the market on Monday that it would book up to $4.5 billion more in post-tax charges in the fourth quarter, which would take the supermajor’s combined write-downs to Continue Reading
Shell Divests LNG Stake For $2.5 Billion
Shell has sold a 26-percent stake in an Australian LNG project to Global Infrastructure Partners for $2.5 billion as part of efforts to reduce the weight of non-core assets in Continue Reading
Shell Points to a Another Bleak Quarter for Big Oil
Investors expecting an end-of-year rebound in the oil and gas industry could be in for a disappointment, if figures published by Royal Dutch Shell Plc are any indication. The Anglo-Dutch energy giant Continue Reading
Shell executives quit amid discord over green push
Royal Dutch Shell has been hit by the departure of several clean energy executives amid a split over how far and fast the oil giant should shift towards greener fuels. The Continue Reading
Shell Wants Biden to Reverse Methane Emissions Rollback
Royal Dutch Shell Plc will push for the reversal of President Donald Trump’s rollback of methane emissions rules and the introduction of carbon pricing when Joe Biden moves into the Continue Reading
Shell To Shut Down Louisiana Refinery
Royal Dutch Shell will shut down its Convent refinery in Louisiana after failing to find a buyer for the facility, Bloomberg reports , citing a statement by the company. The Continue Reading
Royal Dutch Shell Grows Dividend as Third-Quarter Profit Beats Expectations
Royal Dutch Shell Plc set out to woo disgruntled investors by raising its dividend and pledging to grow it steadily, just six months after slashing the payout. Amid a painful Continue Reading
Shell plans to cut up to 9,000 jobs as oil demand slumps
Royal Dutch Shell said Wednesday it’s planning to cut between 7,000 and 9,000 jobs worldwide by the end of 2022 following a collapse in demand for oil and a subsequent Continue Reading
Rosneft warns BP and Shell creating ‘existential crisis’ for oil supplies
Russia’s Kremlin-controlled oil company has warned that BP and Royal Dutch Shell are creating an “existential crisis” for oil supplies that will lead to higher prices, attacking their shift towards Continue Reading
Shell to cut up to 40% from oil and gas production to prepare for energy transition
Royal Dutch Shell is looking to slash up to 40 per cent off the cost of producing oil and gas in a major drive to save cash so it can Continue Reading
Shell May Cut Upstream Oil Operations By 40%
Oil and gas supermajor Shell is looking to slash as much as 40 percent of its upstream oil and gas operations as it is redesigning its business toward a greener Continue Reading
Exclusive: Shell launches major cost-cutting drive to prepare for energy transition
Royal Dutch Shell is looking to slash up to 40% off the cost of producing oil and gas in a major drive to save cash so it can overhaul its Continue Reading
Shell files offshore drilling plans for Alaska’s North Slope
Shell Offshore Inc. has submitted plans to plans to drill for oil in the waters along the National Petroleum Reserve-Alaska in the coming years. The Dutch oil industry giant applied Continue Reading
Russia Looks To Lure Shell Into New Arctic Oil Project
Central now to Russia’s hydrocarbons-related power is its Arctic sector oil and gas reserves. These comprise over 35,700 billion cubic metres of natural gas and over 2,300 million metric tons Continue Reading
Shell to return to Basra with new head
Shell personnel will return to the Basra Gas Company (BGC) joint venture consortium next week, following their evacuation from Basra due to a payment dispute that nearly turned violent in Continue Reading
Shell Swings to Historic Loss as Pandemic Devastates Oil Demand
An abundance of fossil fuels combined with advances in technology has sent energy prices crashing around the world. Royal Dutch Shell PLC swung to a heavy loss in the second Continue Reading
Shell avoids loss with strong trading, wipes $17 billion off assets
Royal Dutch Shell ( RDSa.L ) avoided its first quarterly loss in recent history, helped by a booming trading business, but announced nearly $17 billion in impairment charges reflecting a Continue Reading
Shell’s Big Bet On Floating LNG May Be A Flop
It was the last of the large LNG projects that put Australia in the lead for global LNG exports. It was the biggest jewel in Shell’s LNG crown. But this Continue Reading
Oil Giant Considers Drastic Move As Pandemic Persists
Anglo-Dutch oil major Shell is not ruling out the possibility of moving its headquarters to the UK, the group’s chief executive Ben van Beurden told Dutch business newspaper Het Financieele Continue Reading
Big Oil’s Nightmare Is Coming True
Royal Dutch Shell said that it could cut the value of its oil and gas assets by as much as $22 billion , as it takes a dim view of Continue Reading
Shell to write down as much as $22 billion after coronavirus hit
Royal Dutch Shell ( RDSa.L ) said on Tuesday it would write off assets worth up to $22 billion after the coronavirus crisis knocked oil and gas demand and weakened Continue Reading
Shell Takes $22 Billion Write-Down, Expecting Lower Oil and Gas Prices
The energy industry’s earnings are under pressure and some companies are having to borrow to pay dividends. In April, Shell cut its dividend for the first time since World War Continue Reading
Shell weighs sale of $2 billion-plus stake in Queensland LNG facilities
Royal Dutch Shell ( RDSa.L ) is considering raising more than $2 billion from the sale of a stake in the common facilities at its Queensland Curtis LNG plant in Continue Reading
A Once-In-A-Lifetime Warnings For Oil Investors
Last week Royal Dutch Shell did something that would have been nearly unthinkable at the beginning of this year. The company cut its dividend for the first time in 75 Continue Reading
Shell Has A Dire Warning For Oil Markets
After months of a deep and harrowing slide, fuel demand across the world is finally starting to sputter back to life . Traffic data, pipeline flows, and sales at gas Continue Reading
Shell Says Oil Industry May Change Forever, Cuts Dividend
Europe’s largest oil company is bracing for permanent change in customer behavior, signaling demand may not fully recover once the coronavirus pandemic is over. The global spread of the virus has Continue Reading
Royal Dutch Shell (RDA) Cuts Dividend as Pandemic Hammers Oil
Royal Dutch Shell Plc cut its dividend for the first time since at least the Second World War as the oil slump triggered by the coronavirus pandemic reshapes the energy Continue Reading
Shell Cuts Dividend for First Time Since World War II
Royal Dutch Shell PLC cut its dividend for the first time since World War II after first-quarter profit fell by nearly half as the coronavirus pandemic hit. Energy demand and Continue Reading
Shell sees sharp second quarter oil, gas production fall over COVID-19 shut-ins
Highlights Non-LNG upstream output could fall to 1.75 mil boe/d Cuts first quarter dividend, suspends share buybacks Reports 48% slide in adjusted Q1 earnings London — Shell said Thursday that Continue Reading
Shell Postpones Investment On Two Major Oil Projects
As oil prices collapse, Shell is postponing the final investment decisions (FIDs) for two planned projects, one in the U.S. Gulf of Mexico and another in the UK North Sea, Continue Reading
Shell Plans Major Drilling in Mexico
Royal Dutch Shell Plc is pushing ahead on its massive deep-water drilling plan in Mexico, even as it doesn’t foresee production starting under the current government. The global oil major Continue Reading
Shell’s Profit Tumbles As Weak Prices Weigh On Oil Majors
The first of Big Oil corporations reported Q4 and full-year 2019 results on Thursday, and the financials Royal Dutch Shell ( NYSE:RDS.A ) released doesn’t bode well for the rest Continue Reading
Shell posts 6% oil output growth in Q4, as earnings suffer
Shell’s upstream oil production increased by 6% on the year to 1.77 million b/d in the fourth quarter of 2019, contributing to what CEO Ben van Beurden insisted is a Continue Reading
Shell ‘not spending enough’ on new energies: CEO
Shell CEO Ben van Beurden said Thursday the company was “not spending enough” on its new energies business, particularly in electricity. Speaking to journalists following the release of Q4 earnings, Continue Reading
Shell’s Slide Is A Major Red Flag For Oil Markets
Royal Dutch Shell reported a steep drop in earnings in the fourth quarter, and the financial squeeze may slow the pace of share buybacks and force more asset sales. Shell’s Continue Reading