Shell to Use Artificial Intelligence in Deep Sea Oil Exploration
Shell Pl will use AI-based technology from analytics firm SparkCognition for deepwater exploration and offshore oil production, the companies said on Wednesday. SparkCognition’s artificial intelligence algorithms will process and analyze large volumes of seismic data as Shell searches for new oil fields, the company says. In a statement, Shell’s vice …
Shell to Merge LNG and Upstream Business
Shell will merge its oil and gas and LNG operations as part of changes made by CEO Wael Sawan to the structure of the energy giant. The new division, which brings together Shell’s most profitable operations, will be led by Exploration and Production Director Zoya Yujnovich, Shell said in a …
Shell Expects $2.4 Billion Loss in 2022 Due to Taxes on Energy Company Excess Profits
Losses for Q4 2022 alone are expected to be around $2 billion. Shell expects to incur approximately $2.4 billion in losses in 2022 due to the imposition of taxes on excess profits of energy companies in the UK and the European Union (EU). The information comes from Shell reporting. Company …
LUKOIL Completes Acquisition of Russian Retail and Lubricants Assets of Shell
The final agreement on acquisition of Shell’s Russian retail and lubricants assets was signed in Moscow. The assets include the chain of filling stations primarily located in the Central and Northwestern federal districts of Russia, and lubricants blending plant located in Tver region. The sale was approved by Russia’s Federal …
Shell Signs Agreement to Sell Retail and Lubricants Businesses in Russia
Shell Overseas Investments B.V. and B.V. Dordtsche Petroleum Maatschappij – subsidiaries of Shell plc – have signed an agreement to sell Shell Neft LLC, which owns Shell’s retail and lubricants businesses in Russia, to PJSC LUKOIL. The deal includes 411 retail stations, mainly located in the Central and Northwestern regions …
Shell Leads All Oil and Gas Brands as COVID, Ukraine and ESG Issues Disrupt Global Brand Values
Shell is world’s most valuable brand in oil and gas, valued at US$49.9 billion Aramco retains second place globally with 16% brand value growth ADNOC grows strongly, benefits from top brand guardian CEO in industry China’s PetroChina and Sinopec struggle, behind continuing COVID curtain Petronas is world’s strongest oil and …
Shell: To Exit the Entire Russian Hydrocarbon Sector in a Phased Manner
Shell plc (Shell) today announced its intent to withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and liquefied natural gas (LNG) in a phased manner, aligned with new government guidance. As an immediate first step, the company will stop all spot purchases of Russian …
Shell: Appoints Sinead Gorman as CFO
Shell plc (“Shell”) today announced the appointment of Sinead Gorman as chief financial officer (CFO), effective April 1, 2022. She will become a member of both Shell’s Executive Committee and Board of Directors. After a distinguished career of 17 years with Shell, the last five years as CFO, Jessica Uhl …
Shell: Intends to Exit Equity Partnerships Held with Gazprom Entities
The Board of Shell plc (“Shell”) today announced its intention to exit its joint ventures with Gazprom and related entities, including its 27.5 percent stake in the Sakhalin-II liquefied natural gas facility, its 50 percent stake in the Salym Petroleum Development and the Gydan energy venture. Shell also intends to …
Shell: Ed Daniels Appointed Strategy, Sustainability and Corporate Relations Director
Shell plc (Shell) today announces the appointment of Ed Daniels to the newly created role of Strategy, Sustainability and Corporate Relations Director. The appointment is effective February 15. In his new role, Ed will become a member of Shell’s Executive Committee and will have accountability for the company’s existing Strategy, …