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...One option includes turning it into a cash-shell company that pursues acquisitions in new industries, the 63-year-old billionaire told the Financial Times in a rare interview....
...Shell said that “carbon credits are an important method of helping compensate for carbon emissions that come from the production of many things and their use, including by Mr Spencer,” adding that the company...
...The companies include Saudi Aramco, TotalEnergies, BP, Shell and ExxonMobil....
...The church said it would also exclude all remaining smaller companies involved in oil and gas exploration, production and refining by the end of the year....
...It may well sell down its stake to an international oil company. Candidates include Shell, Total and Chevron, which are all drilling, or planning to drill, in the same Orange oil basin....
...Shell was granted its first exploration licence to prospect for oil onshore in Nigeria in 1938 and drilled the country’s first successful well in 1956 in Bayelsa state in the Niger Delta....
...exploration and production....
...and production] industry”....
...Space-age design I Designers and furniture makers have been inspired by space exploration for decades....
...International companies have mined diamonds and uranium in Namibia for decades but there is no history of oil production....
...Shell, which picked up its first onshore exploration licence in Nigeria in 1938, has agreed terms to sell the 68-year old Shell Petroleum Development Company of Nigeria (SPDC) to a consortium of five predominantly...
...Zimbabwean pension funds are among the investors in Invictus and the company and the project will eventually need a production-sharing deal with the Zimbabwean state....
...“The private [exploration and production groups] were the last remaining vectors of that era of very price-cyclical boom and bust growth cycles,” said Matthew Bernstein, senior analyst at consultancy Rystad...
...However, rather than abandoning LNG more companies are trying to follow Shell’s lead....
...“It is fair to assume that virtually every company focused on oil and gas exploration, production and refining is continuously looking to expand its oil and gas activities,” said Hortense Bioy, global director...
...Among the US’s shale exploration and production specialists, analysts said larger remaining companies would look to combine to gain scale and present an attractive target for a supermajor buyout down the...
...The new financial discipline demanded by exploration and production investors — profits before growth — has given Opec a stronger hand. A surprisingly resilient global economy has helped....
...Seasoned oil and gas investors know new exploration permits do not mean the North Sea’s taps will suddenly be jammed open. Exploration success is far from guaranteed....
...“This year we will exceed our goals [and] surpass what we predicted,” said Joelson Falcão Mendes, director of exploration and production at Petrobras....
...In recent years the company helped transform the sleepy US state of North Dakota into a powerhouse oil producer and struck liquid gold with an exploration punt off the coast of Guyana that became the biggest...
...Now there are inklings of excitement in exploration. That is good news for the likes of Shell, TotalEnergies and drilling services groups....
...By contrast, oil and gas companies deplete their reserves. This means cashflows dry up if they make no new discoveries, and exploration costs are capitalised if fruitful....
...Northern Lights, a joint venture between oil companies Shell, Equinor and TotalEnergies, has welcomed 6,000 visitors — including politicians, industry leaders and climate campaigners — to its site in Øygarden...
...Exxon peers in Europe such as BP and Shell have sold parts of their fossil fuel portfolio in response to climate concerns. Both companies have cut oil output since 2019....
...to [its] substantial, ongoing, and expanding fossil fuel production”, the ASA said....
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