Britain's Shell and Norway's Equinor on Thursday announced plans to combine their British offshore oil and gas assets to create a jointly owned energy company.
Norway's Equinor and Shell will combine their British offshore oil and gas assets to create a new company owned 50% each, the Norwegian group said on Thursday.
Shell is stepping back from new investments in offshore wind projects and is splitting its power division following an extensive review of the business under CEO Wael Sawan's drive to boost the company's returns, the company told Reuters.
SHEL signs a deal with QatarEnergy to receive 3 million metric tons of LNG annually for delivery in China.
SHEL plans to sell its carbon-based projects to prioritize profits by investing in high-return ventures.
Leading energy companies TotalEnergies , BP , Shell and Equinor announced a $500-million joint investment commitment, aimed at increasing people's access to sustainable modern energy sources.
Wael Sawan, Shell CEO, joins 'Money Movers' to discuss Sawan's expectations for policy changes under the Trump administration, if the U.S. will apply more sanctions on Iran, and much more.
Oil supply will exceed demand by more than one million barrels a day next year, according to the latest forecast by the International Energy Agency. That amounts to a glut of around 1% of global output even with recent capacity reductions by major oil producers.
The historic 2021 ruling against SHEL was dismissed by the Dutch Court, reversing its climate obligations to cut carbon emissions.
The cabinet chief to Argentine President Javier Milei cited oil major Shell as a potential investor in a future liquefied natural gas (LNG) project to be run by the country's state oil firm YPF , according to newspaper La Nacion.
A court in the Netherlands has overturned a 2021 ruling ordering Shell to cut carbon emissions by 45% by 2030, dealing a blow to climate activist groups.
Shell and Equinor on Tuesday urged a Scottish court to uphold Britain's approval for the development of two vast North Sea oil and gas fields, as environmental campaigners attempted to block the projects.