Topic
shell
Commodities SLB wins Brunei Shell Petroleum contract to revive shut-in offshore wells
SLB has been awarded a production restoration contract by Brunei Shell Petroleum, a Shell subsidiary, targeting shut-in wells across multiple offshore fields. The integrated contract covers subsurface evaluation, well candidate selection, engineering, and offshore execution, and marks the first such solution for BSP, according to Splash247.
Logistics Minsheng expands Shell-backed MR tanker programme to 11 newbuilds
Minsheng Financial Leasing has expanded its Shell-backed MR tanker programme at Guangzhou Shipyard International to 11 ships, adding five newbuildings. All 11 vessels will be chartered to Shell Tankers, with delivery estimated between 2029 and 2030. Prices for the latest five are estimated at $228m to $230m.
Commodities ONGC and Shell Energy India sign MoU for deepwater blocks and LNG sourcing
Oil and Natural Gas Corp (ONGC) and Shell Energy India Private Ltd have signed a non-binding memorandum of understanding to jointly assess deepwater and ultra-deepwater offshore blocks under India's Open Acreage Licensing Policy, including OALP Rounds X and XI, and to explore LNG sourcing opportunities. The agreement, signed August 10, sets a framework for cooperation without committing either company to any specific investment or project.
Commodities Shell Greenlights Malikai Phase 3 in Malaysia to Lift Oil Output 60%
Shell's Sabah Shell Petroleum Company has taken a final investment decision on Phase 3 of the Malikai deepwater field offshore Malaysia, according to Splash247. The project will drill four wells, raising output by 60% to roughly 40,000 barrels per day, with first production expected in Q3 2028. The FID supports Shell's aim of sustaining around 1.4 million barrels per day of liquids production towards 2030.
Commodities MOL acquires Shell's Aphrodite gas field stake in Cyprus for up to $720m
Hungarian energy group MOL has signed a deal to buy BG Cyprus, Shell's subsidiary holding a 35% non-operated interest in the Aphrodite gas field offshore Cyprus, for up to $720m. The field holds an estimated 104bn cubic metres of contingent gas plus 8m barrels of condensate, with first gas expected in 2031.
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.