All publications by tag «SHELL»
Shell, Eni, Total and Statoil have announced green energy investments with a combined value of around $2.5 billion in recent weeks in a bid to diversify away from their core oil and gas markets.
Nigeria's oil output fell close to a 22-year low this month due to attacks on oil pipelines in the southern Niger Delta, home to much of the country's oil and gas wealth, compounding the impact of low oil prices on Africa's largest economy.
The pullout comes as crude oil prices have plummeted to less than half their June 2014 levels, forcing oil companies to slash spending. For Shell and ConocoPhillips, the decision to abandon Arctic acreage was formalized just before a May 1 due date to pay the U.S. government millions of dollars in rent to keep holdings in the Chukchi Sea north of Alaska.
Royal Dutch Shell’s first quarter 2016 CCS earnings attributable to shareholders (see Note 3) were $0.8 billion compared with $4.8 billion for the same quarter a year ago.
“Our goal is to sell LNG,” she said. “We’re happy to help local developers by investing in infrastructure if it helps the market grow.”
Chevron Corp. and Royal Dutch Shell Plc had their ratings reduced by one level, while Total SA’s was cut two steps, according to statements by the New York-based rating company on Friday. Chevron will generate negative cash flow amid rising debt for at least the next two years, while Shell will have elevated leverage following its acquisition of BG Group Plc, Moody’s said. Prices are expected to stay low through this year and next and continue to pressure Total’s operating cash flows and credit metrics, Moody’s said.
The international oil company said on Wednesday it was co-operating with officials from both the Netherlands and Italy as they investigate the $1.1bn deal, which Shell signed five years ago alongside Eni, the Italian oil company.
Royal Dutch Shell has confirmed it is reviewing the case for selling some of its North Sea assets in the wake of its £35bn takeover of rival oil and gas producer, BG Group.
In November 2011, Iraq signed a $17 billion deal to form a joint venture to gather, process and market gas from three oil fields in the oil-rich province of Basra. The fields are the 17.8 billion-barrel Rumaila, the 4.1 billion barrel Zubair field and the 8.6 billion barrel West Qurna Stage 1.
The project includes the ongoing construction of a new ethylene cracker and ethylene derivatives units, which will increase ethylene capacity by more than 1 million tonnes of per year, about double the current capacity. It will also include a styrene monomer and propylene oxide (SMPO) plant, which will be the largest such plant ever built in China.