Shell to invest $5 billion in Nigeria’s Bonga North oil project. This investment aims to address Nigeria’s recent challenges of falling oil production and theft. President Tinubu prioritizes expanding oil and gas production. Shell has disclosed plans for a substantial $5 billion investment in an offshore oil opportunity in the country. This announcement follows a … Read more
Aramco announced a record profit of $161.1 billion in 2022. Aided by rising energy prices and higher volumes. Aramco made a profit of $161bn in 2022, but is a significant source of greenhouse gas emissions. Aramco, the largest oil company in Saudi Arabia, has announced a record profit of $161.1 billion (£134 billion) for 2022, … Read more
Nigerians from the oil-producing Niger Delta have brought a claim for compensation against Shell. UK law firm Leigh Day filed the lawsuit on behalf of 11,317 individuals. And 17 organizations at the London High Court. At the London High Court, more than 11,000 Nigerians from the oil-producing Niger Delta have brought a claim for compensation … Read more
Profits will reach $39.9 billion (£32.2 billion) in 2022. Rise in energy prices contributed to an increase in household and business bills. Since the invasion of Ukraine, oil and gas prices have skyrocketed. Shell reported record annual profits after energy prices skyrocketed last year following Russia’s invasion of Ukraine. Profits will reach $39.9 billion … Read more
KARACHI: The Shell Pakistan Limited (SPL) posted a loss-after-tax of Rs4.644 billion during the third quarter of FY22, translating into the cumulative profit-after-tax of Rs2.863 billion for the nine months, compared with the last year’s profit-after-tax of Rs297 million and Rs2.447 billion for the quarter and nine months, respectively, a statement said on Wednesday. The … Read more
Royal Dutch Shell is exploring increasing shareholder payouts. Record earnings from rising energy prices will also enable the company to move more quickly toward renewable and low-carbon energy sources. This would be the first increase in dividends since the 1940s, according to CEO Ben van Beurden. According to the chief executive, Shell is exploring … Read more
I will be Europe’s largest renewable hydrogen plant, according to Shell. 200 megawatt electrolyzer will produce up to 60,000 kg of renewable hydrogen daily. Electrolysis is a technique that utilizes an electric current to split water into oxygen and hydrogen. Subsidiaries of oil and gas tycoon Shell have made a final investment decision, which would … Read more
Shell owns a 27.5 percent share in an oil and gas project that Russia has tried to take over. Vladimir Putin issued an executive order on Thursday to take control of the Sakhalin-2 project. The decision may push Shell and Japan’s Mitsui and Mitsubishi to sell off their investments. Shell owns a 27.5 percent share … Read more
The oil giant estimates that selling its Russian assets could result in a loss of up to $5bn (£3.8bn). Russia is one of the biggest producers of oil in the world. In exchange for leaving the Russian market, Shell will end its joint partnerships with Gazprom. Oil tycoon Shell has acknowledged that selling its Russian … Read more
Shares in Mitsui & Co and Mitsubishi Corp fell about 5% on Friday. Russia moves to create a new firm to take charge of the Sakhalin-2 oil and gas project. Japan has said it would not give up interest in the project, even if asked to leave. Japan continues to import LNG from Sakhalin-2. Shares … Read more
The amended proposal of Shell to develop a North Sea natural gas field was authorized by Britain’s regulator on Wednesday, as the government strives to enhance domestic energy supply following Russia’s invasion of Ukraine. Shell said it wants to proceed with the development of the Jackdaw gas field, which has the potential to provide 6.5 … Read more
Greenpeace campaigner Ami McCarthy deplores move as bad for the environment. Environmentalists slam Britain for allowing Shell to develop Jackdaw gas field. UK looking to boost energy security amid fears Ukraine war will lead to severe shortages. Environmentalists slammed Britain on Wednesday for allowing Shell to develop the Jackdaw gas field off the coast of … Read more
GasTerra, a Dutch firm, announces that it will no longer receive gas from Russia’s Gazprom as of Tuesday after refusing to comply with Moscow’s requests for payment in roubles. GasTerra, which purchases and markets gas on behalf of the Dutch government, finds a replacement for the two billion cubic meters of gas it had expected … Read more
Shell has agreed to sell almost 400 of its gas outlets in Russia to Lukoil, the country’s second-largest oil company. Shell Neft, the company’s Russian business, will be sold for an unknown value. Following Russia’s invasion of Ukraine, several Western oil and gas companies have been trying to sell their Russian operations. The transaction, which … Read more
Shell is selling part of its Russian assets to Lukoil, the country’s second-largest oil producer. In Torzhok, the sale will contain 411 retail gas stations and a lubricant blending factory. The financial parameters of the purchase, which is anticipated to close later this year, were not disclosed. Shell said on March 8 that it would … Read more
LONDON: Following a jump in oil prices, energy giant Shell reported record first-quarter earnings, increasing calls for the British government to slap a tax on energy corporations’ windfall revenues to help households struggling with rising living costs. Shell said adjusted earnings increased to $9.1 billion from $3.2 billion in the same period last year, excluding … Read more
Shell Energy, British Gas, EDF and Scottish Power have has all found themselves under fire as customers face difficulty in submitting meter readings on their websites and applications. Finance guru Martin Lewis has issued urgent advice for customers to take meter readings today ahead of the huge hike in prices expected to arrive tomorrow. He says that … Read more
KARACHI: The global trade in liquefied natural gas (LNG) increased 6 per cent to 380 million tonnes during 2021, as many countries rebounded from the Covid-19 pandemic, according to the Shell’s latest annual LNG Outlook. The rising LNG demand, combined with supply constraints, caused gas and LNG prices to remain volatile throughout the year. The … Read more
LONDON: Royal Dutch Shell said on Friday that it will win a boost from soaring gas prices in the fourth quarter despite supply problems, but cautioned that Omicron weighs on oil demand. Shell expects “significantly higher” gas revenues in the three months to December thanks to the “high liquid natural gas spot price environment” as it … Read more
ISLAMABAD: The government and the All Pakistan Petroleum Dealers Association (PPDA) are still at loggerheads on the issue of increase in the profit margins. In a statement, Federal Minister for Energy Hammad Azhar said that some groups of the petroleum dealers want to pressurise the government for an increase in their margins to Rs9, which … Read more
KARACHI: Shell Pakistan organised the Shell Eco-Marathon (SEM) 2021 Student event at Rawalpindi, where engineering students from leading Pakistani universities demonstrated the performance of their self-built vehicles across two categories, ‘Prototype’ (battery powered) or ‘Urban Concept’ (gasoline run) in line with Shell’s mission to power progress with innovative and cleaner energy solutions. The vehicles were … Read more
KARACHI: Shell Tameer is Shell’s flagship social investment programme, aimed at developing and strengthening young Pakistani entrepreneurs and driving innovation and enterprise development in the country, a statement said. This year Tameer launched its 8th Shell Tameer Awards, with young entrepreneurs from across Pakistan competing to win and be recognised for their ideas and innovative … Read more
