Topic
shell
Commodities Shell Profits Double as Oil Prices Rise Due to Iran War
Shell reported a doubling of second-quarter profits to $9.84bn, driven by soaring oil prices following the outbreak of the US-Israel war with Iran. The conflict caused major disruption to global oil and LNG supplies through the Strait of Hormuz. Shell's first-half earnings surged 70% to $16.76bn.
Commodities Jackdaw Gas Field Emissions Won't 'Materially Influence' Climate Change, Owner Says
The Jackdaw gas field in the North Sea will account for less than 0.02% of annual global greenhouse gases, according to a new Environmental Impact Assessment from its owner Adura, a joint venture between Shell and Equinor. The report was required after a court ruling that ministerial consent was unlawful, and fresh UK government approval is needed before production can begin.
Commodities Shell Weighs $1bn Offshore Wind Sell-Off as It Shifts Focus Back to Oil and Gas
Shell is reportedly preparing to launch a sale of its offshore wind farms worth over $1bn, advised by Rothschild & Co and PJT Partners. The move is part of CEO Wael Sawan's strategy to cut costs and focus on higher-returning oil and gas assets, following the divestment of European onshore renewables and Indian renewable firm Sprng Energy.