Court in the Netherlands Rejects Claims Against Minimum Gas Production at the Groningen Field
Dismissed lawsuits against the government’s decision to allow a minimum level of gas production at the Groningen field in 2023, despite seismic risks. This was reported on August 30, 2023 by the Netherlands’ highest court. The Court ruled: the government was guided by security concerns when it decided to limit …
Shell Starts Development of Timi Field in Malaysia
Sarawak Shell Berhad (SSB, a subsidiary of Shell plc) has started natural gas production at the Timi field in Malaysia. This was reported by the press service of Shell. Timi field low-sulfur (sweet) gas field; opened in 2018; located approximately 252 km northwest of Bintulu in the Sarvak region, where …
The Head of Shell Called the Decline in Oil and Gas Production Dangerous and Irresponsible
Cutting oil and gas production would be dangerous and irresponsible, Shell CEO Wael Savan told the BBC. According to the top manager, the world is still “desperately in need of oil and gas”, and the speed of transition to renewable energy is not yet sufficient to replace them. Wael also …
First Gas Produced at Gorgon Stage 2 in Western Australia
Chevron said on Tuesday it has begun gas production from its Gorgon Stage 2 development project off the coast of Western Australia. The development expands the Gorgon project’s existing subsea gas gathering network, which exports LNG to customers across Asia and produces gas for the Western Australian domestic market, Chevron …
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 …