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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...
...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 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....
...Industry heavyweight Shell last week weakened its target for reducing carbon dioxide emissions....
...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....
...Last month, a group of 27 investors filed a shareholder resolution at Shell, calling on the oil and gas company to set a medium-term target to cut its greenhouse gas emissions....
...Steve Hill, head of liquefied natural gas trading at Shell, will depart the company after eight years....
...The Oil and Gas Climate Initiative, which includes Shell, Saudi Aramco and ExxonMobil among its members, told the Financial Times it plans to extend its year-long monitoring campaign, which ended in August...
...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...
...Under the scheme, Trafigura and its co-conspirators agreed to make illicit payments of up to 20 cents per barrel of oil products bought from or sold to Petrobras, and to conceal the bribes via shell companies...
...Inevitably, the successes of Total, Shell and Galp will encourage large oil companies to direct more investment into exploration....
...That has spiralled into an increasingly public dispute, with Shell alleging Venture’s actions have allowed the company to reap an $18bn windfall because of a surge in gas prices following Russia’s 2022 full-scale...
...He argued that companies such as Shell and ING had an influence at “such a systemic level” that they had a legal responsibility for a contribution to climate change....
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