Shell to axe fifth of exploration staff starting with Britain
Shell PLC (LSE:SHEL, NYSE:SHEL) is to axe 20% of its exploration and development workforce as chief executive Wael Sawan accelerates his cost-cutting plans, according to Reuters. Hundreds of jobs will be cut around with Britain and the Netherlands to be hit hardest said the report.
Exclusive: Shell plans wide cuts in oil exploration division, sources say
Shell plans to scale back its oil and gas exploration and development workforce by 20% as CEO Wael Sawan widens his cost-saving drive to the highly profitable division after deep cuts in renewables and low-carbon businesses, company sources said.
Rosebank, Jackdaw development defence dropped by government
Britain's government will not defend legal challenges against the development of North Sea oil fields Rosebank and Jackdaw. Brought by Greenpeace and Uplift, the cases surround development at the sites, which are respectively west of Shetland and east of Aberdeen.
Shell's Nigerian Onshore Asset Sale Faces Regulatory Hurdles
SHEL states that it is not selling its onshore assets directly to Renaissance. The transaction involves a transfer of shares, which means that it will only transfer the ownership of the assets.
Petrol should be 6p cheaper a litre as drivers overcharged, RAC warns
Forecourt prices should be slashed as petrol is sold for 6p more a litre than it should currently be worth, according to RAC. The motor group said an average price of 142p was far ahead of the 103p a litre wholesale value last week, with a coinciding drop in oil and strengthening of the pound meaning drivers should be paying less at the pump.
Shell's Zydeco Pipeline to Undergo Maintenance in September
SHEL's Zydeco pipeline eases transportation bottlenecks for the crude that arrives in Houston from the prolific Eagle Ford shale, and the Permian and Bakken regions.
Royal Dutch Shell Has Strong Cash Flow That Justifies Its Valuation
Royal Dutch Shell is a large oil company with a market capitalization of $225 billion, offering low valuation and substantial shareholder returns. The company had a strong second quarter with $13.5 billion in CFFO, $6.3 billion in adjusted earnings, and $10 billion in FCF, supporting hefty shareholder returns. Royal Dutch Shell is focusing on new projects worldwide to generate over 500 thousand barrels/day, with a strong presence in LNG and impressive capital allocation for shareholder returns.
Shell Is Transitioning Back To Being An Oil And Gas Producer
Shell plc is shifting focus towards maximizing shareholder value by emphasizing liquids and gas production, expanding LNG trading, and pausing less profitable biofuel projects. Despite the shift towards hydrocarbons, Shell remains open to renewable fuels and biofuels, with a focus on long-term strategy and potential government mandates to drive demand. Shell's financials show a flat production rate, with investments in oil & gas developments and LNG terminals, as well as a focus on high grading their portfolio for future energy transition.
Shell (SHEL) Approves Waterflood Project to Boost Output at Vito
Shell (SHEL) believes that the waterflood project will contribute to additional production of high-margin, lower-carbon barrels and maximize the potential of the Vito field.
Shell (SHEL), PetroChina Surat Gas Project Expansion Underway
This development aligns with Shell's (SHEL) broader strategy to grow its LNG business by 20-30% by 2030.
Petrol prices at six-month low after falling back to February levels
Petrol prices fell to their lowest since February this week, motor firm the AA reported on Friday. At an average of 143.0p per litre, petrol hit a six-month low, while diesel fell to levels not seen since January at 147.9p.
3 Major Integrated Firms Leading the Energy Transition
There are abundant opportunities for energy companies with a footprint in oil and gas resources and the renewable energy space. Three such companies are BP, Shell (SHEL) and Eni (E).
