Shell-Equinor tie-up ‘corporate tidying-up' as North Sea prospects wane
Shell PLC (LSE:SHEL, NYSE:SHEL) and Equinor's North Sea merger plans will offer a string of benefits but come against a backdrop of the region's shift from an oil and gas to a renewable powerhouse. The duo on Thursday unveiled a deal to merge their UK North Sea assets to create Britain's largest independent oil firm with daily production of 140,000 barrels of oil equivalent.
Shell Plans to Cut New Offshore Wind Spend, Split Power Division
SHEL announces plans to scale back new offshore wind investments and restructure its power division, focusing on oil, gas and biofuels amid economic challenges.
Shell and Equinor join forces to make new UK North Sea business
Shell PLC (LSE:SHEL, NYSE:SHEL) and Equinor have struck a deal to combine their respective UK North Sea assets into a new company, which will become Britain's largest independent oil company. The joint venture company, to be based in Aberdeen, will own Equinor's Mariner, Rosebank, and Buzzard, alongside Shell's Shearwater, Penguins operations as well as a portfolio of exploration and development assets.
Equinor, Shell to Combine U.K. Assets
The energy majors will create a joint venture they say will be the biggest independent producer in the North Sea to help sustain domestic oil-and-gas production and secure energy supply in the U.K.
Shell and Equinor to create Britain's largest independent oil and gas company in joint venture
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.
Equinor, Shell to form jointly owned oil and gas producer in Britain
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.
Exclusive: Shell slows investments in offshore wind, splits power business
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.
Shell to Strengthen Its LNG Portfolio With New QatarEnergy Deal
SHEL signs a deal with QatarEnergy to receive 3 million metric tons of LNG annually for delivery in China.
Shell Exits Carbon Offset Market: A Pivot for Strategic Shift
SHEL plans to sell its carbon-based projects to prioritize profits by investing in high-return ventures.
TotalEnergies, BP, Equinor and Shell commit $500 mln to boost energy access
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.
Shell CEO Wael Sawan: Shell's transition is underway and underlying value can now be unlocked
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.
Glut of oil predicted next year by key agency
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.
