Shell PLC has committed to buy three million tons per annum (MMtpa) of liquefied natural gas (LNG) from QatarEnergy for the British energy giant’s activities in China. Delivery under the long-term deal will start January 2025, QatarEnergy said in an online statement, not specifying the duration of the agreement. “This …
Read More »BP Looks to Sell a Minority Stake in Its U.S. Natural Gas Pipelines
BP is looking to sell up to 49% of its U.S. natural gas pipeline network in a deal that could fetch up to $3 billion, Reuters reported on Friday, citing anonymous sources with knowledge of the plans. The potential sale would be part of BP’s efforts to reduce its net …
Read More »European Oil Giants Commit $500 Million to Help Boost Access to Energy
European oil and gas supermajors BP, Equinor, Shell, and TotalEnergies are committing a joint investment of $500 million to help ensure access to affordable, reliable, sustainable, and modern energy for all. The joint investment commitment is part of the energy majors’ efforts to support promising, high-impact projects, primarily in Sub-Saharan …
Read More »Shell Turns Germany’s Top Refinery Green
Shell is gearing up to transform its largest German oil refinery, Rheinland, turning the crude-centric Wesseling site into a base-oil powerhouse. The overhaul, set to kick off next quarter, signals a major shift as Shell pivots from conventional oil refining toward high-grade lubricants. Goodbye crude processing at Wesseling—by 2025, that …
Read More »BP and Shell Brace for Profit Drop
BP and Shell are expected to post lower profits this week as the supermajors grapple with weak oil prices and a global slowdown in demand. BP is due to publish its third-quarter earnings on Tuesday, while Shell will report its results on Thursday. Earlier this month, the FTSE 100 firms …
Read More »Shell Abandons Norway’s Hydrogen Projects due to Lack of Demand
Shell Plc has ditched plans to build a low-carbon hydrogen plant on Norway’s west coast due to a lack of demand, Reuters reported on Monday. “We haven’t seen the market for blue hydrogen materialize and decided not to progress the project,” a Shell spokesperson has told Reuters. Shell’s announcement comes …
Read More »Rosneft Unlikely to Stop Shell’s Sale of German Refinery Stake
Rosneft is likely to fail in its legal challenge against a planned sale of a minority stake in a German refinery that it used to control before Germany took over the Russian oil giant’s assets in the country. Rosneft has a 54% stake in the Schwedt refinery, the fourth-largest refinery …
Read More »Oil Majors and Traders Vye for Shell’s South African Assets
Oil trading giants and the national oil companies of some of the Middle East’s biggest oil producers are in the race to buy Shell’s South African service stations as they look to expand their access to downstream assets. The world’s largest oil firm and oil exporter, Saudi Aramco, the national …
Read More »Shell Plans 20% Cut in Oil and Gas Exploration Workforce
Shell is looking to reduce its oil and gas exploration workforce by 20%, reported Reuters, citing sources. The news comes as CEO Wael Sawan makes cost-saving measures to the upstream division, which significantly contributes to the company’s earnings. According to sources, the planned cuts will affect offices globally, notably in …
Read More »Shell and PetroChina Invest in Australian Gas Project Expansion
Shell and PetroChina will invest in the second phase of a coal seam gas project in northeast Australia to boost supply to domestic customers and long-term LNG shipments, the UK-based supermajor said on Monday. Arrow Energy, a 50/50 joint venture between Shell and the Chinese giant, announced plans to develop …
Read More »