178 articles
Shell CEO confirms deep discussions on selling its US chemical portfolio, potentially valued at $8 billion, as bidders including ExxonMobil express interest. The move follows positive Q3 earnings desp
Shell reported a $5.4 billion increase in shipping lease costs adding to its net debt, while TotalEnergies saw liquid fuel price realization drop by $6 per barrel due to soaring freight rates between
Shell reported a record third-quarter net profit of $10.81 billion, driven by strong refining margins and higher LNG prices amid global supply disruptions. The company also increased its share buyback
Shell reported higher third-quarter earnings in its chemicals and products segment driven by strong refining margins. Chemical sales volumes rose 4% to 2.37 million tonnes while indicative chemical ma
Geopolitical conflicts have slashed global refining capacity, driving margins to record highs and sparking a historic profit comeback for major oil refiners like ExxonMobil and Shell. Analysts predict
Shell and ExxonMobil are exploring an $8 billion sale of their joint venture Infineum, a UK-based chemicals unit, after hiring Bank of America to advise on the potential transaction.
Infineum, a joint venture between Shell and ExxonMobil, is exploring an $8 billion sale to allow energy majors to refocus on core operations.
The UK government approved the Hawk gas field project to boost domestic energy supply by 6% amid high prices, operated by Shell and Equinor's Adura unit.
The UK approved the Jackdaw North Sea gas field, boosting domestic production by 6% to enhance energy security. Run by Shell and Equinor, the project begins supply soon alongside a new £2 billion Ener
Oil majors anticipate record third-quarter profits driven by Iran war-induced energy price spikes, prompting investor scrutiny on capital allocation strategies like debt reduction versus buybacks. Maj
Shell has agreed to sell its French mobility business, comprising 70 sites and eight LNG installations, to DCC Energy, with completion expected in Q2 2027. The transaction value remains undisclosed as
Shell has acquired a 30% non-operating interest in Equinor's Bay du Nord offshore project in Canada, with total investment estimated at 14 billion CAD and production expected by 2031.
TotalEnergies expects Q3 refining margins to nearly quadruple to $33.2 per barrel as the Iran conflict drives up energy prices. Competitors Shell and BP are also reporting record or tripled margins du
Western refineries report record profits amid a global diesel shortage expected to persist until 2027 per the IEA. Major firms like TotalEnergies and Shell capitalize on high margins while supply cons
Energy firms are projected to account for over half of Europe's earnings growth driven by high refining margins amid geopolitical tensions. Major players like Shell and Equinor report record profits,
Shell agreed to sell its Nigeria Gas Group to Vaaris Energy to simplify its portfolio, while simultaneously raising its third-quarter integrated gas production forecast.
Tanzania nears finalizing a $42 billion LNG deal led by Equinor and Shell to unlock gas reserves for industrialization. The project aims to establish East Africa as an energy hub while attracting crit
Shell criticized Australia's new domestic gas reservation policy, warning it acts as a heavy-handed intervention that could drive prices below production costs and cause market failure. The legislatio
BP canceled its attendance at the World Petroleum Council Energy Congress in Riyadh following a missile attack on the international airport that killed 13 people. Executives from other major oil firms
Riyadh's King Khalid International Airport faced renewed attacks after a strike killed 12 people. Security concerns caused major energy firms like BP and Shell to withdraw from the World Petroleum Con
Shell acquires 30% stake in Equinor's Bay du Nord offshore oil project in Canada, advancing the project toward an investment decision targeted for early 2027.
Canadian oil and gas M&A exceeds $30 billion CAD this year, driven by high prices and conflict. Shell's $16.4 billion ARC acquisition leads a healthy consolidation wave expected to surpass 2017 totals
Aditya Birla Renewables aims to secure $1.5 billion in rupee loans to fund the $1.8 billion acquisition of Shell's Indian renewable energy arm Solenergi, avoiding costlier bridge debt.
Australia plans to legislate a Domestic Gas Reservation Scheme requiring LNG producers to reserve up to 20% of output for local buyers amid projected domestic shortfalls. The policy impacts major proj
Oil prices surged 5% to $105.3 per barrel amid escalating Middle East tensions and Hurricane Isaias disrupting Gulf of Mexico production. Shell and Chevron halted operations, raising inflation concern
Shell partially restarted its Pearl gas-to-liquids plant in Qatar to test facilities and build inventory after March damage, with full repairs expected by Q1 next year pending regional security condit
Shell and Chevron are curtailing offshore Gulf of Mexico operations and evacuating personnel as Tropical Storm Isaias approaches, with specific assets like Mars and Olympus being shut in ahead of the
Shell forecasts record refining margins of $42 per barrel in Q3 due to global fuel shortages, boosting Q2 profits to nearly $10 billion. The company also raised its gas production outlook following it
Shell CEO Wael Sawan states Middle East oil flows are near 80% of prewar levels, highlighting supply resilience amidst regional conflict. He cautions that prolonged war risks future disruptions, leadi
Shell CEO Wael Sawan identifies a competitive advantage in Venezuelan gas over heavy oil, citing five new agreements including participation in the 7-trillion-cubic-feet Loran offshore gas field.
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