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...In recent months, Shell has also become embroiled in a dispute with US-based Venture Global LNG, alleging the company is refusing to honour a multibillion-dollar supply contract....
...700,000 rounds of artillery shells compared with 70,000 a year before in 2022 — thanks to investments in new production lines before war returned to Europe....
...The companies include Saudi Aramco, TotalEnergies, BP, Shell and ExxonMobil....
...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....
...It would risk Shell having to sell parts of its business to companies that may produce or sell the fuels in even more carbon-intensive ways, it says....
...exploration and production....
...The changes reflect chief executive Wael Sawan’s plans to keep oil production flat and expand sales of liquefied natural gas while being more selective about the types of low-carbon energy products it sells...
...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....
...What is striking is that shares in US-listed gas-focused exploration and production companies have performed surprisingly well year to date....
...and production] industry”....
...Inevitably, the successes of Total, Shell and Galp will encourage large oil companies to direct more investment into exploration....
...While work was ongoing on making cellulose from wood, the company said this was not yet in production....
...Weakness there bodes ill for the integrated oil companies — and for the global economy....
...Shell has claimed its targets are already Paris-aligned but the activist group wanted the company to do better....
...Only the wealthiest nations and companies can afford such risk. And even then, western oil companies, such as Shell and BP, have withdrawn from the region after investing billions of dollars....
...At the Munich Security Conference in February, chief executive Armin Papperger said the company aimed eventually to produce a six-digit number of 155mm-calibre shells per year in Ukraine with a local joint...
...Scope 3 targets force the value chain collaboration needed to scale up the production of clean materials such as green steel....
...BAE has increased production of 155mm artillery shells under a contract with the UK Ministry of Defence that will see it raise its production capacity eight-fold....
...Nigeria’s Dangote refinery, one of the largest in the world, has edged closer to production after it received its first batch of crude from Shell’s oil trading arm....
...The midstream company was spun off from EQT in 2018 after activist pressure, with EQT retaining its upstream business, focusing on natural gas exploration and production, and Equitrans Midstream on storage...
...International companies have mined diamonds and uranium in Namibia for decades but there is no history of oil production....
...Europe has been slow to ramp up its artillery production because national governments and EU and Nato entities were slow to sign contracts with manufacturers, making it harder for companies to access finance...
...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...
...Despite state-led production cuts, which reduced Saudi Aramco’s oil production about 7 per cent year-on-year, the state-owned company was able to juice its total annual dividend by 30 per cent to a whopping...
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