The boss of Shell’s Canadian operation will step down from her role by the end of the year. Lorraine Mitchelmore has held the role of president for the company’s operations in the country for the past six years.
Energy giant Statoil is to exit Alaska following recent exploration results in neighbouring leases.
Oil major Shell’s Turritella FPSO (floating production storage and offloading unit) has set sail from Singapore bound for the Gulf of Mexico. It will head to the Stones Project, 200miles southwest of New Orleans, in the Walker Ridge area. The vessel set sail from Singapore earlier this month and will connect to subsea infrastructure in water depths of 9500ft.
Qatar’s sovereign wealth fund has sold shares in Shell and BG worth almost £1billion, raising fresh questions about support for oil firms’ proposed £47billion mega-merger.
Established oil and gas investors have long been aware that in this market you need to take a ‘through-cycle’ strategy, managing the up cycle in the knowledge that tougher times are always on the horizon. The execution of the strategy in down cycle, organic or inorganic, can play a decisive role in determining the winners when the market recovers. And the market will recover.
Oil major Shell has opened a landmark new CCS (Carbon Capture and Storage) project in Canada. The new Quest facility at the Athabasca Oil Sands project is designed to capture, transport and store more than one million tonnes of carbon dioxide CO2 each year. The amount is equivalent to the emissions from an estimated 250,000 cars.
Carbon capture and storage projects need a $60 to $80 price for carbon dioxide to justify building them, Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden said. That’s more than five times the current price of C$15 ($11.27) a ton in Alberta, Canada, where the oil company began commercial operations for a CCS project Friday.
Shell has been accused of making false claims about its clean-up operations in Nigeria in a joint report by Amnesty International and the Centre for Environment, Human Rights and Development. The findings claimed the oil giant had also failed to implement UN recommendations. The report also alleged several sites Shell had claimed to have cleaned up remained polluted.
Royal Dutch Shell Plc said its record takeover of BG Group Plc will still deliver value to investors even in a prolonged oil-industry downturn and reshaped its business in preparation for the acquisition.
Royal Dutch Shell and BG Group were strong risers in the top flight after the oil firm said its £43billion merger with the gas giant was on track to complete in early 2016.
Shell has appointed Maarten Wetselaar integrated gas director as part of a wider upstream reorganisation.
Shell's chief executive will address shareholders today, breaking down the oil giant's plans to reorganise its upstream business.
Royal Dutch Shell Plc has failed to clean up four oil-spill sites in the crude-producing Niger River delta, three of which an under-resourced Nigerian regulator dealing with leakages said had been decontaminated, Amnesty International said in a report on Tuesday.
Oil major Shell has been handed an improvement notice by the HSE (Health and Safety Executive) after a gas leak earlier this year. The company launched an investigation in January this year after a suspected gas leak near to the Curlew FPSO(Floating, Production, Storage and Offloading) vessel in the North Sea. Shell has now been ordered to make improvements by the HSE following the incident.
Shell has sold off parts of its global downstream portfolio in the wake of disappointing financial results.
A stubborn 16-month crude rout with no end in sight is driving the largest US oil producers away from costly, high-risk mega-projects long touted as the industry’s future and toward safer shale operations that generate the cash needed to satisfy anxious investors.
BG Group has posted its third quarter results and said it remains on track for its takeover by oil major Shell to be completed early next year. The company reported a third-quarter decline in profit of 63% as it feels the force of the oil price decline. Net income fell to $280million form $759million a year previously. Meanwhile BG said its exploration and production was up 26% while full year guidance has increased to between 680-700kboed.
More than $19 billion in oil and gas writedowns have been reported in a single week as producers acknowledge what investors already knew. Royal Dutch Shell Plc leads the pack in recognizing that drilling prospects are worth a lot less than they used to. The producer announced its worst loss in 16 years on Thursday, including $8.2 billion in impairments. Southwestern Energy Co., Whiting Petroleum Corp. and Anadarko Petroleum Corp. have likewise written off acreage value. For investors, those charges aren’t much of a surprise after oil tumbled 44 percent in the past year, dragging stock prices along with it. Shell has declined 15 percent in the past 12 months, Whiting is down 73 percent and Anadarko fell 26 percent.
Blue chip stocks in London were down, dragged lower by worse-than-expected results from Barclays and Royal Dutch Shell.
Shell chief financial officer Simon Henry said the company's Central North Sea assets would continue to be under review as the company moves towards its mega merger with BG Group.
Industry giant Shell suffered a major financial hit after it recorded a $6.1billion loss in its third quarter earnings report.
A new study reveals almost half of oil and gas executives believe they have fallen short of their innovation goals in 2015 - nearly twice as many since early 2014.
Royal Dutch Shell Plc made its second major strategic change in as many months, saying it will take a $2 billion charge as it shelves an oil-sands project in Alberta after walking away from an Arctic drilling program.
Wood Group PSN (WGPSN) is in consultation with its staff over a move to three on, three off rotation on Shell assets in the North Sea. The company said it was working with employees who would be affected by the changes as well as the oil major and unions. Earlier this year Shell revealed it would be moving to a three on, three off shift pattern in January next year.
The boss of ConocoPhillips, Ryan Lance, has been confirmed as a speaker at ONS 2016, which takes place in Stavanger between August 29-September 1.