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...Top oil industry executives have hit out at US President Joe Biden’s decision to pause approvals for new liquefied natural gas export terminals, with Shell’s CEO warning it will “erode confidence” in an...
...British oil and gas giants Shell and BP have jointly given at least £19.7mn to the university in philanthropic and research funding between 2016 and 2023, according to FT analysis of university data, which...
...The report came after oil companies including Shell and BP trimmed back their climate targets this year and hundreds of other companies, including Microsoft, Unilever and JBS, failed to set goals that were...
...By the end of the year OCI had agreed to offload two fertiliser holdings for about $3.6bn apiece, to the Abu Dhabi National Oil Company and Koch Industries of the US....
...Gas and power trading has overtaken oil as the biggest source of profits in the sector, contributing almost half of the industry’s gross earnings in 2022, according to Oliver Wyman....
...Shell said the company’s excuse does not withstand scrutiny, as the facility has delivered more than 200 cargo shipments to customers....
...Candidates include Shell, Total and Chevron, which are all drilling, or planning to drill, in the same Orange oil basin....
...The valuation gap between US and European oil groups is a “major issue” making it more likely that companies will consider moving their listings to New York, said former Shell chief executive Ben van Beurden...
...On Tuesday, Shell’s former chief executive, Ben van Beurden, decried the growing gap with US-listed companies, saying the oil giant was “massively undervalued” in London....
...“The knowledge that this has partly been the result of Shell’s activities of pumping and burning oil and gas . . . for our argument towards the Dutch court, that is indeed favourable,” he said.Shell recently...
...The former head of Shell has said the oil major is “massively undervalued” in London and may benefit from switching its listing to the US, in another blow to sentiment surrounding the UK stock market....
...Darren Woods received salary, stock options and a bonus amounting to $36.9mn in 2023, the US’s biggest oil company reported in a securities filing on Thursday....
...“He really led Shell’s work during his tenure as CEO on transitioning it across oil and gas, renewables, sustainable aviation and transportation.”...
...Shell on Thursday introduced a new ambition to cut the absolute emissions from the oil products it sells by 15-20 per cent from 2021 levels by 2030, but it intentionally excluded gas as a “critical fuel...
...Sawan also said that the company “strongly, strongly believed” in liquified natural gas. The company expects 50 per cent growth in the global supply of the chilled fuel by 2040....
...However, he also emphasised the company’s continued investment in fossil fuel projects, which will add at least 200,000 barrels of oil equivalent a day to Shell’s production capacity....
...The oil major added that demand for natural gas “has peaked in some regions and globally is set to peak after 2040”. LNG is natural gas liquefied by cooling it to minus 162C....
...Weakness there bodes ill for the integrated oil companies — and for the global economy....
...The 68-year-old Shell Petroleum Development Company of Nigeria will be acquired by a consortium of local and international companies for at least $1.3bn, the UK-listed oil major said on Tuesday....
...Europe’s largest oil and gas company said on Thursday that adjusted earnings were $28.3bn, down about a third from the record set in 2022 but higher than any other year since 2011....
...Shell has claimed its targets are already Paris-aligned but the activist group wanted the company to do better....
...The oil company Shell has been on trial repeatedly in recent years — in court, in the theatre and now on the opera stage....
...Shareholders have rejected Australian oil and gas company Woodside’s climate plan with a record 58 per cent voting against it....
...Shell said the sale was part of the company’s strategy to cut down its global refining portfolio and focus on large sites integrated with its chemicals and trading businesses....
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