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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...
...Shell said its work with academic partners “aims to accelerate the energy transition by bringing together the brightest minds . . . as well as the commercial ability to scale-up and implement new solutions...
...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....
...Shell has weakened some of its climate targets to accommodate plans to keep growing its giant gas business, ditching a 2035 greenhouse gas emissions reduction target even as it maintained a net zero goal...
...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...
...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....
...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....
...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....
...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....
...Oil companies across the world have reported bumper profits over the past two years as Russia’s full-scale invasion of Ukraine drove a surge in the price of crude....
...That process has involved streamlining the senior management team, re-emphasising the oil and gas business and trimming less profitable parts of the company’s low-carbon portfolio....
...Transport accounts for well over half of the consumption of oil. Refining helps produce industrial chemicals as well....
...“He really led Shell’s work during his tenure as CEO on transitioning it across oil and gas, renewables, sustainable aviation and transportation.”...
...fossil fuels as a “backbone” as it transitions to renewable energy sources....
...Like many other energy majors, Shell, the world’s largest private LNG trader, is keen to position natural gas as a transition fuel as the world aims to decarbonise....
...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....
...Shell has agreed to sell its onshore oil production business in Nigeria following a flood of other international groups seeking to withdraw from the country’s restive Niger Delta region....
...Shell raised its dividend as it reported annual profits for 2023 of more than $28bn....
...The oil company Shell has been on trial repeatedly in recent years — in court, in the theatre and now on the opera stage....
...He said that to meet global energy demand and maintain shareholder returns, Shell had to continue investing in oil production and growing its large gas business, even as it also invested in forms of energy...
...Fossielvrij NL, a group that campaigned for PFZW to divest, said the action showed the pension fund “recognises that fossil fuel companies such as Shell and BP will not move away from their core business...
...Hill, who joined Shell when it acquired BG Group in 2016, was a key architect in the growth of the oil major’s LNG business, which is now the biggest in the world after state-backed QatarEnergy....
...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....
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