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...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....
...Sluggishness in refining at Shell chimes with what other oil producers are seeing....
...Shell’s $54.2bn in cash flow from operations was the second highest in the company’s history....
...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....
...Among companies taking advantage is London-based oil supply company Prax Group, which in December agreed to buy a 37.5 per cent stake in the PCK refinery in Schwedt, north-east Germany, from Shell....
...used for energy with “locally sourced biomass from agricultural byproducts such as pistachio shells.”...
...Nigeria is Africa’s largest oil producer but has had to import fuels due to a lack of refining capacity....
...In its order intake, Nucera snagged contracts from Swedish producer H2 Green Steel, and from a Shell project in the Netherlands. That is helpful....
...Shell reported its lowest quarterly earnings in almost two years after oil and gas prices and refining margins all fell....
...It also plans to return to areas it sought to exit, such as petrochemicals, renewable power and fertilisers, alongside increased investments in refining and biofuels....
...At Ineos, which derives almost all its revenue from a global network of chemical and oil refining plants, every business review begins with an update on plant and worker safety....
...or refining projects....
...The disclosures relate to its oil production and refining operations there, where the company can trace its history back more than 140 years....
...Earnings at ExxonMobil and Shell were both down 56 per cent on last year, while TotalEnergies’ earnings plunged 49 per cent....
...But there is a huge wild card in China, which dominates in production as well as refining and processing of many of these....
...The regulator considers these concentrated investment vehicles “high risk” because of the chance that Indian company insiders could be controlling the funds through shell companies, and using them to influence...
...Meanwhile, UK rival Shell has become less apologetic about its role in climate change as an oil and gas company under new chief executive Wael Sawan....
...Higher natural gas prices, refining margins and lower costs have all helped push Shell’s return on capital employed to about 16 per cent, more than double the amount in 2014....
...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....
...Downstream earnings also fell at both groups as refining margins tightened....
...For Ferreira, the pre-salt riches can unlock the company’s future....
...Aramco expects to spend between $45bn and $55bn this year, which is double the capital expenditure planned by Europe’s biggest oil company Shell....
...Shell has warned that a drop in earnings from gas trading and lower refining margins will cut into its third-quarter profits....
...The renewables and energy solutions business, which includes Shell’s wind and solar projects, will be combined with the oil refining and marketing units to create a new downstream and renewables division...
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